Waystar Holding Corp.

WAYNASDAQTechnology● Active

$20.00

$-0.22(-1.09%)

Market Cap$3.8B

P/E Ratio—

52W High$41.49

52W Low$17.89

Avg Volume2.5M

Open$20.41

Beta0.10

Free Cash Flow Financials Revenue

Waystar Holding Corp. (WAY) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

WAY · free cash flow · updated Jun 8, 2026

Core FCF metrics

WAY · FCF · TTM · margin & CAGR

Free cash flow was $283.2M for FY2025 (fiscal year ending 2025-12-31), up 98.7% year-over-year The FCF margin was 25.8%.

FY2025 Free Cash Flow$283.2M▲ +98.7% YoY

Trailing 12M (TTM)$294.0Mtrailing 4 quarters sum

FCF Margin25.8%$283.2M ÷ revenue

3-Year CAGR+49.2%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

WAY · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$309.7M(26M)$283.2M▲ +98.7%25.8%

FY2024$169.8M(27M)$142.5M▲ +375.9%15.1%

FY2023$51.5M(22M)$29.9M▼ 64.9%3.8%

FY2022$102.6M(17M)$85.2M▼ 7.3%12.1%

FY2021$106.4M(15M)$91.9M—15.9%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

WAY · P/FCF · FCF yield · FCF per share

Waystar Holding Corp. (WAY) trades at a FCF yield of 7.66% and a price-to-free-cash-flow ratio of 13.0x. FCF per share stands at $1.54, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

7.66%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.54

TTM FCF ÷ Shares Outstanding

Price / FCF

x13.0

Share Price ÷ FCF per Share

EV / FCF (TTM)

x13.0

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

WAY · cash flow statement · operating / investing / financing

For FY2025, Waystar Holding Corp. generated $309.7M in operating cash flow and spent 26M in capital expenditures, yielding $283.2M in free cash flow.

Operating Activities

+$309.7M

Cash from core business operations

2025-12-31

Investing Activities

−$680.9M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$243.4M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($309.7M) − |CapEx| (26M) = FCF ($283.2M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

WAY vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Waystar Holding Corp.YOU

WAY

$283.2M+98.7%25.8%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Waystar Holding Corp. (WAY) reported free cash flow of $283.2M for FY2025 (fiscal year ending 2025-12-31), up 98.7% year-over-year. The FCF margin was 25.8%.

Based on available data, Waystar Holding Corp. has maintained positive free cash flow for at least 5 fiscal year(s). FCF peaked at $283.2M in FY2025.

Waystar Holding Corp.'s FCF yield is 7.66% and price-to-FCF ratio is 13.0x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

WAY free cash flow · 8 questions

Waystar Holding Corp. free cash flow was $283.2M for FY2025, up 98.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $294.0M.

WAY free cash flowWAY FCFWAY FCF 2025WAY free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Waystar Holding Corp. · Waystar Holding Corp. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026