Waystar Valuation Multiples

Waystar Overview

About Waystar

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.

Founded

2019

HQ

Employees

1.7K

Website

waystar.com

Sectors

Revenue Cycle ManagementHealthcare SoftwareHealthTechB2B SaaSVertical SaaS

Financials (LTM)

Revenue: $1B

EBITDA: $484M

EV

$6B

Valuation Multiples

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Waystar Financials

Waystar reported last 12-month revenue of $1B and EBITDA of $484M.

In the same LTM period, Waystar generated $792M in gross profit, $484M in EBITDA, and $282M in net income.

Waystar P&L

In the most recent fiscal year, Waystar reported revenue of $1B and EBITDA of $462M.

Waystar expects next 12-month revenue of XXX and NTM EBITDA of XXX

Waystar Stock Performance

Waystar has current market cap of $5B, and enterprise value of $6B.

Waystar's stock price is $25.80.

Waystar Valuation Multiples

Waystar trades at 5.5x EV/Revenue multiple, and 13.1x EV/EBITDA.

Waystar Financial Valuation Multiples

As of April 20, 2026, Waystar has market cap of $5B and EV of $6B.

Equity research analysts estimate Waystar's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Waystar has a P/E ratio of 17.6x.

Waystar Margins & Growth Rates

Waystar's revenue in the last 12 month grew by 15%.

Waystar's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.3M for the same period.

Waystar's rule of 40 is 59% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Waystar's rule of X is 84% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Waystar Public Comps

See public comps and valuation multiples for other Revenue Cycle Management and Healthcare Software comps.

Waystar M&A Activity

Waystar acquired XXX companies to date.

Last acquisition by Waystar was on XXXXXXXX, XXXXX. Waystar acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Waystar Investment Activity

Waystar invested in XXX companies to date.

Waystar made its latest investment on XXXXXXXX, XXXXX. Waystar invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).