Waystar HoldingWAY +9.47%14 ROC (Joel Greenblatt) % is 352.19% as of Mar. 2026, which is 280% above its 10-year median of 92.63. GuruFocus rates WAY with a GF Score™ of 14/100. The stock has 2 warning signs investors should review. Among 670 Healthcare Providers & Services companies, Waystar Holding ranks better than 94.33% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Waystar Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 352.19%.
The historical rank and industry rank for Waystar Holding's ROC (Joel Greenblatt) % or its related term are showing as below:
WAY'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 79.45 Med: 92.63 Max: 251.57
Current: 251.57
During the past 5 years, Waystar Holding's highest ROC (Joel Greenblatt) % was 251.57%. The lowest was 79.45%. And the median was 92.63%.
WAY's ROC (Joel Greenblatt) % is ranked better than 94.33% of 670
companies
in the Healthcare Providers & Services industry
Industry Median: 12.485
vs WAY: 251.57
Waystar Holding's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Waystar Holding ROC (Joel Greenblatt) % Related Terms
Waystar Holding ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Waystar Holding's ROC (Joel Greenblatt) % 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.
WAY vs DOCS, PRVA, HTFL: ROC (Joel Greenblatt) % Comparison
For the Health Information Services subindustry, Waystar Holding's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Waystar Holding ROC (Joel Greenblatt) % vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Waystar Holding's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Waystar Holding's ROC (Joel Greenblatt) % falls into.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 352.19% mean?
Waystar Holding (WAY) has a ROC (Joel Greenblatt) % of 352.19% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Waystar Holding and its competitors. This is 280% above median its historical median of 92.63. Over the past decade, Waystar Holding's ROC (Joel Greenblatt) % has ranged from 79.45 to 251.57. According to the industry distribution chart, Waystar Holding ranks #38 out of 670 companies in the Healthcare Providers & Services industry, placing it in the top 5.7%.
Is Waystar Holding's ROC (Joel Greenblatt) % too high?
Waystar Holding's current ROC (Joel Greenblatt) % of 352.19% is 280% above median its 10-year median of 92.63. Over the past 10 years, this metric has ranged from a low of 79.45 to a high of 251.57. The Healthcare Providers & Services industry median ROC (Joel Greenblatt) % is 12.49. Waystar Holding's value of 352.19% is 2720.9% above this industry median. Based on the distribution chart, Waystar Holding ranks #38 out of 670 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. 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 ROC (Joel Greenblatt) % compare to DOCS and PRVA?
According to the Healthcare Providers & Services industry distribution chart, Waystar Holding ranks #38 out of 670 companies for ROC (Joel Greenblatt) %. This places Waystar Holding in the top 6% of its industry — outperforming the majority of peers. The industry median ROC (Joel Greenblatt) % is 12.49. Waystar Holding's value of 352.19% is 2720.9% above this benchmark. Historically, Waystar Holding's own ROC (Joel Greenblatt) % has ranged from 79.45 to 251.57 over the past decade. While the company's 10-year median is 92.63 vs. the industry median of 12.49, Waystar Holding has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Healthcare Providers & Services company?
The median ROC (Joel Greenblatt) % among Healthcare Providers & Services companies is 12.49, based on 670 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Waystar Holding's current ROC (Joel Greenblatt) % of 352.19% is 2720.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Waystar Holding and its competitors. For the Healthcare Providers & Services industry, the median ROC (Joel Greenblatt) % is 12.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Waystar Holding's current ROC (Joel Greenblatt) % is 352.19%, which is 280% above median its own 10-year median of 92.63. 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 ROC (Joel Greenblatt) % of 352.19%. The current ROC (Joel Greenblatt) % is 352.19%, which is 280% above median its 10-year median of 92.63 and 2720.9% above the Healthcare Providers & Services industry median of 12.49. 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 ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Waystar Holding (WAY), the current ROC (Joel Greenblatt) % is 352.19% 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 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.
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