WAY (Waystar Holding) Operating Income: $265 Mil (TTM As of Mar. 2026)


WAY Waystar Holding Corp WAY
14 GF Score
Price $23.91
! 2 Warning Signs
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What is Waystar Holding Operating Income?

Waystar Holding WAY +1.92% 14 Operating Income is $265 Mil as of Mar. 2026. GuruFocus rates WAY with a GF Score™ of 14/100. The stock has 2 warning signs investors should review.

Waystar Holding's Operating Income for the three months ended in Mar. 2026 was $80 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $265 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Waystar Holding's Operating Income for the three months ended in Mar. 2026 was $80 Mil. Waystar Holding's Revenue for the three months ended in Mar. 2026 was $314 Mil. Therefore, Waystar Holding's Operating Margin % for the quarter that ended in Mar. 2026 was 25.64%.

Waystar Holding's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Waystar Holding's annualized ROC % for the quarter that ended in Mar. 2026 was 4.17%. Waystar Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 352.19%.

Waystar Holding  (NAS:WAY) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Waystar Holding's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=321.86 * ( 1 - 27.64% )/( (5610.745 + 5563.117)/ 2 )
=232.897896/5586.931
=4.17 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5785.1 - 88.123 - ( 86.232 - max(0, 218.063 - 308.412+86.232))
=5610.745

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=5838.993 - 116.946 - ( 158.93 - max(0, 219.96 - 386.612+158.93))
=5563.117

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Waystar Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=321.86/( ( (64.621 + max(17.903, 0)) + (72.732 + max(27.518, 0)) )/ 2 )
=321.86/( ( 82.524 + 100.25 )/ 2 )
=321.86/91.387
=352.19 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(177.037 + 0 + 38.706) - (88.123 + 67.855 + 41.862)
=17.903

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(172.532 + 0 + 55.15) - (116.946 + 64.68 + 18.538)
=27.518

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Waystar Holding's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=80.465/313.874
=25.64 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Waystar Holding Operating Income Related Terms

Waystar Holding Operating Income Historical Data

* Premium members only.

The historical data trend for Waystar Holding's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Waystar Holding Operating Income Chart

Waystar Holding Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
60.32 89.45 142.08 123.73 249.31

Waystar Holding Quarterly Data
Dec21 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 65.21 64.85 60.23 59.02 80.47
WAY
14GF Score
Waystar Holding Corp WAY
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Waystar Holding Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $265 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $265 Mil mean?
Waystar Holding (WAY) has a Operating Income of $265 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Waystar Holding and its competitors.
Is Waystar Holding's Operating Income too high?
Waystar Holding's current Operating Income is $265 Mil. Overall, Waystar Holding has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Waystar Holding's Operating Income compare to DOCS and PRVA?
Waystar Holding's Operating Income of $265 Mil can be compared against companies in the Healthcare Providers & Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Healthcare Providers & Services company?
A good Operating Income depends on the Healthcare Providers & Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Waystar Holding and its competitors. Waystar Holding's current Operating Income is $265 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Waystar Holding stock overvalued right now?
Waystar Holding (WAY) has a current Operating Income of $265 Mil. The current Operating Income is $265 Mil. Waystar Holding's overall GF Score™ is 14/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Waystar Holding (WAY), the current Operating Income is $265 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Waystar Holding Business Description

Other Exchanges T8Z:Germany
Address 1550 Digital Drive, Suite 300, Lehi, UT, USA, 84043
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.
14GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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