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Waystar Holding Corp is a provider of mission-critical cloud technology to healthcare organizations. its enterprise-grade platform transforms the complex and disparate processes comprising healthcare payments received by healthcare providers from payers and patients, from pre-service engagement through post-service remittance and reconciliation. its platform enhances data integrity, eliminates manual tasks, and improves claim and billing accuracy, which results in transparency, reduced labor costs, and faster, more accurate reimbursement and cash flow. The market for solutions extends throughout the United States and includes Puerto Rico and other USA Territories.
2019
1.5K+
LTM Revenue $963M
LTM EBITDA $390M
$7.4B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Waystar has a last 12-month revenue of $963M and a last 12-month EBITDA of $390M.
In the most recent fiscal year, Waystar achieved revenue of $944M and an EBITDA of $310M.
Waystar expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Waystar valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $791M | $944M | XXX | XXX | XXX |
| Gross Profit | $490M | $541M | XXX | XXX | XXX |
| Gross Margin | 62% | 57% | XXX | XXX | XXX |
| EBITDA | $319M | $310M | XXX | XXX | XXX |
| EBITDA Margin | 40% | 33% | XXX | XXX | XXX |
| Net Profit | -$44.0M | -$51.3M | XXX | XXX | XXX |
| Net Margin | -6% | -5% | XXX | XXX | XXX |
| Net Debt | $2.2B | $2.2B | XXX | XXX | XXX |
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As of April 15, 2025, Waystar's stock price is $37.
Waystar has current market cap of $6.3B, and EV of $7.4B.
See Waystar trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $7.4B | $6.3B | XXX | XXX | XXX | XXX | $1.15 |
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Sign UpAs of April 15, 2025, Waystar has market cap of $6.3B and EV of $7.4B.
Waystar's trades at 7.7x LTM EV/Revenue multiple, and 18.9x LTM EBITDA.
Analysts estimate Waystar's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Waystar and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $7.4B | XXX | XXX | XXX |
| EV/Revenue | 7.8x | XXX | XXX | XXX |
| EV/EBITDA | 23.8x | XXX | XXX | XXX |
| P/E | -329.3x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | 51.8x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpWaystar's NTM/LTM revenue growth is 8%
Waystar's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $0.3M for the same period.
Over next 12 months, Waystar's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Waystar's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Waystar and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 19% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 33% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -3% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 41% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.6M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.3M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | 17% | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 12% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 5% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 53% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Craneware | XXX | XXX | XXX | XXX | XXX | XXX |
| CareCloud | XXX | XXX | XXX | XXX | XXX | XXX |
| TruBridge | XXX | XXX | XXX | XXX | XXX | XXX |
| Claritev | XXX | XXX | XXX | XXX | XXX | XXX |
| MultiPlan | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Waystar acquired XXX companies to date.
Last acquisition by Waystar was XXXXXXXX, XXXXX XXXXX XXXXXX . Waystar acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Waystar founded? | Waystar was founded in 2019. |
| Where is Waystar headquartered? | Waystar is headquartered in United States of America. |
| How many employees does Waystar have? | As of today, Waystar has 1.5K+ employees. |
| Who is the CEO of Waystar? | Waystar's CEO is Mr. Matthew J. Hawkins. |
| Is Waystar publicy listed? | Yes, Waystar is a public company listed on NAS. |
| What is the stock symbol of Waystar? | Waystar trades under WAY ticker. |
| When did Waystar go public? | Waystar went public in 2024. |
| Who are competitors of Waystar? | Similar companies to Waystar include e.g. Craneware, CareCloud, TruBridge, Claritev. |
| What is the current market cap of Waystar? | Waystar's current market cap is $6.3B |
| What is the current revenue of Waystar? | Waystar's last 12-month revenue is $963M. |
| What is the current EBITDA of Waystar? | Waystar's last 12-month EBITDA is $390M. |
| What is the current EV/Revenue multiple of Waystar? | Current revenue multiple of Waystar is 7.7x. |
| What is the current EV/EBITDA multiple of Waystar? | Current EBITDA multiple of Waystar is 18.9x. |
| What is the current revenue growth of Waystar? | Waystar revenue growth between 2023 and 2024 was 19%. |
| Is Waystar profitable? | Yes, Waystar is EBITDA-positive (as of the last 12 months). |
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