Waystar Holding (WAY) Net Margin (2023 - 2026)

Waystar Holding's (WAY) quarterly Net Margin came in at 13.79% in Q1 2026, up 238.0% year-on-year from 4.08% in Q1 2025, and up 109.58% quarter-over-quarter from 6.58% in Q4 2025.

Waystar Holding (WAY) Net Margin (2023 - 2026) Analysis & Trends

Waystar Holding's Net Margin history runs 4 years deep, the most recent figure standing at 13.79% for Q1 2026.

  • On a quarterly basis, Net Margin rose 238.0% year-over-year to 13.79% in Q1 2026; TTM through Mar 2026 was 10.9%, a 823.0% increase from a year earlier, with the FY2025 full-year figure at 10.2%, up 1222.0% from the prior year.
  • Net Margin advanced to 13.79% in Q1 2026 per WAY's latest filing, from 6.58% in the prior quarter.
  • Across five years, Net Margin topped out at 13.79% in Q1 2026 and bottomed at 11.8% in Q2 2024.
  • The 4-year median for Net Margin is 4.42% (2024), against an average of 2.16%.
  • Across the five-year window, Net Margin plunged 629 bps in 2024 and surged 2370 bps in 2025, its largest moves.
  • Year by year, Net Margin stood at 6.97% in 2023, then jumped by 212 bps to 7.82% in 2024, then slipped by 16 bps to 6.58% in 2025, then surged by 110 bps to 13.79% in 2026.
  • Per Business Quant, the three latest WAY Net Margin figures stand at 13.79% (Q1 2026), 6.58% (Q4 2025), and 11.41% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Margin (Qtr)
1 Veeva Systems 29.34 Bn 22.03 Bn 662.02 Mn 29.55%
2 BrightSpring Health Services 13.49 Bn 12.59 Bn 482.22 Mn 4.12%
3 Healthequity 7.96 Bn 7.70 Bn 256.31 Mn 19.57%
4 10x Genomics 6.17 Bn 5.63 Bn 106.18 Mn -8.93%
5 Hinge Health 6.02 Bn 5.70 Bn 154.23 Mn 18.66%
6 MiniMed 4.19 Bn 3.89 Bn 480.00 Mn -22.10%
7 Waystar Holding 4.14 Bn 4.07 Bn 216.84 Mn 13.79%
8 Doximity 3.82 Bn 3.08 Bn 125.97 Mn 13.15%
9 Privia Health 3.10 Bn 2.73 Bn - 0.61%
10 Omnicell 1.81 Bn 1.57 Bn 140.36 Mn 3.67%

Historic Data

Download Data
DateValue
Mar 31, 2026 13.79%
Dec 31, 2025 6.58%
Sep 30, 2025 11.41%
Jun 30, 2025 11.89%
Mar 31, 2025 11.41%
Dec 31, 2024 7.82%
Sep 30, 2024 2.25%
Jun 30, 2024 -11.80%
Mar 31, 2024 -7.09%
Dec 31, 2023 -6.97%
Sep 30, 2023 -7.85%
Jun 30, 2023 -5.52%