Waystar Holding (WAY) Net Margin (2023 - 2026)
Waystar Holding (WAY) posted quarterly Net Margin of 12.78% for Q2 2026, up 89.0% year-over-year from 6.76% in Q2 2025, and down 7.29% quarter-over-quarter from 13.79% in Q1 2026.
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 12.78% for Q2 2026.
- In Q2 2026, Net Margin rose 89.0% year-over-year to 12.78%; the TTM figure through Jun 2026 stood at 11.18% (up 268.0% YoY), while the FY2025 annual figure was 10.2%, up 1222.0% from the prior year.
- Net Margin for Q2 2026 stood at 12.78%, down from 13.79% in the prior quarter.
- The five-year high for Net Margin was 13.79% in Q1 2026, with the low at 11.8% in Q2 2024.
- The 4-year median for Net Margin is 6.59% (2025), against an average of 2.98%.
- The sharpest annual moves came in 2024 and 2025: Net Margin tumbled 629 bps in 2024, then surged 2370 bps in 2025.
- Waystar Holding's Net Margin stood at 6.97% in 2023, then soared by 212 bps to 7.82% in 2024, then dropped by 16 bps to 6.59% in 2025, then jumped by 94 bps to 12.78% in 2026.
- Business Quant data shows WAY's Net Margin at 12.78% in Q2 2026, 13.79% in Q1 2026, and 6.59% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 2.18% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | -11.87% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 20.25% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 12.78% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 15.53% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | -24.57% |
| 10 | Privia Health | 2.78 Bn | 2.42 Bn | - | 1.54% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 12.78% |
| Mar 31, 2026 | 13.79% |
| Dec 31, 2025 | 6.59% |
| Sep 30, 2025 | 11.40% |
| 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% |