WAY Waystar Holding Corp. - Common Stock
$25.38
Price · Aug 18, 2026
Fundamentals as of Jul 29, 2026
52W Range
$17–$41
34% of range
Analyst Rating
BUY
28 analysts
Price Target
$33
+31% upside
P/E (TTM)
41.6
ROE
3.2%
Net Profit Margin
10.2%
WAY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$25.38
Market Cap
$4.86B
P/E (TTM)
41.6
EPS (TTM)
$0.61
Revenue (TTM)
$1.10B
Div Yield
—
ROE
3.2%
Debt/Equity
0.4
52W Range
$17 – $41
WAY Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$1.10B
2022-12-31
→
2025-12-31
EPS
$0.61
2022-12-31
→
2025-12-31
Free Cash Flow
$283M
2024-12-31
→
2025-12-31
Margins
10.2%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
WAY
Peer Median
P/E (TTM)
41.6
39.8
P/S (TTM)
4.4
3.5
P/B
1.3
2.1
EV / EBITDA
16.1
—
Price / FCF
17.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
WAY
Peer Median
Operating Margin
22.7%
—
Net Profit Margin
10.2%
1.5%
ROA
2.2%
0.92%
ROE
3.2%
3.3%
ROIC
3.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
WAY
Peer Median
Debt / Equity
0.4
—
Current Ratio
1.4
2.2
Quick Ratio
1.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
WAY
Peer Median
Revenue YoY
16.5%
—
Revenue CAGR 3Y
16.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
WAY
Peer Median
WAY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
28 analysts
- Strong Buy 8 28.6%
- Buy 18 64.3%
- Hold 2 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
23 analysts · 2026-08-15
Median
$32.00
← Below all targets
$25.38
Low
$27.00
High
$44.00
Median target
$32.00
+26.1%
Mean target
$33.17
+30.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.43 | $0.40 | 0.03% |
| March 31, 2026 | $0.42 | $0.39 | 0.03% |
| Dec. 31, 2025 | $0.36 | $0.40 | -0.04% |
| Sept. 30, 2025 | $0.37 | $0.35 | 0.02% |
| June 30, 2025 | $0.36 | $0.34 | 0.02% |
| March 31, 2025 | $0.32 | $0.32 | -0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| WAY | $6.27B | 53.7 | 16.5% | 10.2% | 3.2% | — |
| VEEV | $33.40B | 37.5 | 16.3% | 28.4% | 13.1% | 75.5% |
| DOCS | $4.27B | 23.8 | 13.1% | 30.4% | 19.2% | 89.1% |
| HTFL | $2.49B | -9.2 | 39.9% | -66.3% | 39.3% | 76.8% |
| SDGR | — | -12.7 | 23.3% | -40.4% | -29.2% | 55.7% |
| GDRX | — | 30.1 | 0.57% | 3.8% | 4.8% | — |
| CERT | $1.40B | -881.0 | 8.8% | -0.38% | -0.15% | — |
| TDOC | $1.25B | -6.1 | -1.5% | -7.9% | -14.3% | — |
| HSTM | $682M | 37.8 | 4.3% | 6.0% | 5.2% | — |
| PHR | — | 335.8 | 14.5% | 0.48% | 0.73% | — |
| CTEV | $708M | -2.5 | 3.7% | -29.4% | 265.9% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $1.10B | $944M | $791M | $705M | |
| R&D Expense | $55M | $49M | $35M | $33M | |
| SG&A Expense | $129M | $112M | $63M | $73M | |
| Operating Expenses | $850M | $820M | $649M | $615M | |
| Operating Income | $249M | $124M | $142M | $89M | |
| Pretax Income | $172M | $-23M | $-64M | $-66M | |
| Income Tax | $60M | $-3M | $-12M | $-14M | |
| Net Income | $112M | $-19M | $-51M | $-51M | |
| EPS (Basic) | $0.63 | $-0.13 | $-0.42 | $-0.42 | |
| EPS (Diluted) | $0.61 | $-0.13 | $-0.42 | $-0.42 | |
| Shares (Basic) | 177,926,745 | 149,915,839 | 121,675,430 | 121,684,771 | |
| Shares (Diluted) | 184,783,285 | 149,915,839 | 121,675,430 | 121,684,771 | |
| EBITDA | $390M | $310M | · | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $61M | $182M | $36M | $65M | |
| Receivables | $177M | $145M | $126M | · | |
| Prepaid Expense | $20M | $14M | $13M | · | |
| Other Current Assets | $3M | $4M | $30M | · | |
| Current Assets | $308M | $371M | $222M | · | |
| Goodwill | $4.02B | $3.02B | $3.03B | $3.01B | |
| Intangibles | $1.29B | $1.04B | $1.19B | · | |
| Other Non-current Assets | $8M | $7M | $7M | · | |
| Total Assets | $5.79B | $4.58B | $4.58B | · | |
| Accounts Payable | $51M | $47M | $45M | · | |
| Current Liabilities | $218M | $146M | $123M | · | |
| Capital Leases | $12M | $13M | $14M | · | |
| Deferred Tax | $211M | $101M | $174M | · | |
| Other Non-current Liabilities | $692.0K | $278.0K | $3M | · | |
| Total Liabilities | $1.91B | $1.50B | $2.53B | · | |
| Long-term Debt | $1.48B | $1.24B | $2.22B | · | |
| Total Debt | $1.47B | $1.23B | · | · | |
| Common Stock | $2M | $2M | $1M | · | |
| Paid-in Capital | $3.99B | $3.30B | $2.23B | · | |
| Retained Earnings | $-109M | $-221M | $-202M | · | |
| Treasury Stock | $0 | · | · | · | |
| AOCI | $-632.0K | $881.0K | $16M | · | |
| Stockholders' Equity | $3.88B | $3.08B | $2.05B | $2.11B | |
| Liabilities + Equity | $5.79B | $4.58B | $4.58B | · | |
| Shares Outstanding | 191,587,193 | 172,108,240 | 121,679,902 | · |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $141M | $187M | $176M | $183M | |
| Stock-based Comp | $42M | $54M | $9M | $8M | |
| Deferred Tax | $45M | $-59M | $-62M | $-27M | |
| Amort. of Intangibles | $119M | $148M | $159M | $168M | |
| Other Non-cash | $-30M | $7M | · | · | |
| Operating Cash Flow | $310M | $170M | $51M | $103M | |
| CapEx | $26M | $27M | $22M | $17M | |
| Investing Cash Flow | $-681M | $-27M | $-62M | $-17M | |
| Debt Issued | $390M | $576M | $20M | · | |
| Net Debt Issued | $238M | $-1.01B | · | · | |
| Stock Issued | · | $2M | $425.0K | $649.0K | |
| Stock Repurchased | $0 | $844.0K | $688.0K | $2M | |
| Net Stock Activity | $0 | $839.0K | · | · | |
| Financing Cash Flow | $243M | $17M | $-17M | $-67M | |
| Net Change in Cash | $-128M | $159M | $-27M | · | |
| Taxes Paid | $32M | $50M | $50M | $6M | |
| Free Cash Flow | $283M | $142M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | 22.7% | 13.1% | · | · | |
| Net Margin | 10.2% | -2.0% | · | · | |
| Pretax Margin | 15.6% | -2.4% | · | · | |
| EBITDA Margin | 35.5% | 32.9% | · | · | |
| ROA | 2.2% | -0.42% | · | · | |
| ROE | 3.2% | -0.62% | · | · | |
| ROIC | 3.0% | 2.4% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.4 | 2.5 | · | · | |
| Quick Ratio | 1.1 | 2.2 | · | · | |
| Debt / Equity | 0.4 | 0.4 | · | · | |
| LT Debt / Equity | 0.4 | 0.4 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | · | |
| Receivables Turnover | 6.8 | 7.0 | · | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 16.5% | 19.3% | 12.2% | · | |
| Revenue CAGR 3Y | 16.0% | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $1.10B | $944M | · | · | |
| Net Income TTM | $112M | $-19M | · | · | |
| Market Cap | $6.27B | $6.32B | · | · | |
| Enterprise Value | $7.69B | $7.37B | · | · | |
| P/E | 53.7 | -282.3 | · | · | |
| P/S | 5.7 | 6.7 | · | · | |
| P/B | 1.6 | 2.1 | · | · | |
| P / Cash Flow | 20.3 | 37.2 | · | · | |
| P / FCF | 22.2 | 44.3 | · | · | |
| EV / EBITDA | 19.7 | 23.7 | · | · | |
| EV / FCF | 27.1 | 51.7 | · | · | |
| EV / Revenue | 7.0 | 7.8 | · | · | |
| Earnings Yield | 1.9% | -0.35% | · | · |
Income Statement 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $320M | $314M | $304M | $269M | $271M | $256M | $244M | $240M | $235M | $225M | $207M | $197M | |
| R&D Expense | $18M | $18M | $19M | $12M | $13M | $11M | $11M | $11M | $16M | $10M | $10M | $9M | |
| SG&A Expense | $36M | $31M | $44M | $32M | $29M | $23M | $23M | $23M | $40M | $26M | $16M | $17M | |
| Operating Expenses | $244M | $233M | $245M | $208M | $206M | $191M | $191M | $213M | $226M | $190M | $169M | $165M | |
| Operating Income | $76M | $80M | $59M | $60M | $65M | $65M | $53M | $27M | $8M | $35M | $38M | $32M | |
| Interest Income | · | · | · | $1M | · | · | · | · | · | · | · | · | |
| Pretax Income | $56M | $60M | $36M | $43M | $47M | $46M | $33M | $9M | $-42M | $-22M | $-15M | $-20M | |
| Income Tax | $16M | $17M | $16M | $12M | $14M | $17M | $14M | $3M | $-15M | $-6M | $-757.0K | $-5M | |
| Net Income | $41M | $43M | $20M | $31M | $32M | $29M | $19M | $5M | $-28M | $-16M | $-14M | $-15M | |
| EPS (Basic) | $0.21 | $0.23 | $0.09 | $0.18 | $0.19 | $0.17 | $0.18 | $0.03 | $-0.21 | $-0.13 | $-0.12 | $-0.13 | |
| EPS (Diluted) | $0.21 | $0.22 | $0.10 | $0.17 | $0.18 | $0.16 | $0.18 | $0.03 | $-0.21 | $-0.13 | $-0.12 | $-0.13 | |
| Shares (Basic) | 191,868,642 | 191,666,913 | -341,971,953 | 174,352,079 | 173,358,382 | 172,188,237 | -276,865,536 | 171,578,311 | 133,527,766 | 121,675,298 | 1,241 | 121,673,852 | |
| Shares (Diluted) | 194,513,042 | 195,155,126 | -358,747,875 | 181,240,033 | 181,599,133 | 180,691,994 | -281,468,736 | 176,181,511 | 133,527,766 | 121,675,298 | 1,241 | 121,673,852 | |
| EBITDA | $76M | $122M | · | $60M | $65M | $99M | · | $27M | $8M | · | · | · |
Balance Sheet 25
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13M | $34M | $61M | $421M | $290M | $224M | $182M | $127M | $68M | · | $36M | · | |
| Receivables | $186M | $173M | $177M | $146M | $143M | $147M | $145M | $138M | $148M | · | · | · | |
| Prepaid Expense | $25M | $23M | $20M | $21M | $16M | $17M | $14M | $14M | $15M | · | · | · | |
| Other Current Assets | $4M | $3M | $3M | $2M | $3M | $2M | $4M | $4M | $16M | · | · | · | |
| Current Assets | $439M | $387M | $308M | $614M | $524M | $441M | $371M | $305M | $271M | · | · | · | |
| Goodwill | $4.01B | $4.01B | $4.02B | $3.02B | $3.02B | $3.02B | $3.02B | $3.02B | $3.03B | · | $3.03B | · | |
| Intangibles | $1.22B | $1.26B | $1.29B | $955M | $983M | $1.01B | $1.04B | $1.07B | $1.11B | · | · | · | |
| Other Non-current Assets | $8M | $8M | $8M | $8M | $6M | $6M | $7M | $7M | $8M | · | · | · | |
| Total Assets | $5.87B | $5.84B | $5.79B | $4.75B | $4.68B | $4.62B | $4.58B | $4.54B | $4.57B | · | · | · | |
| Accounts Payable | $56M | $59M | $51M | $51M | $47M | $45M | $47M | $48M | $51M | · | · | · | |
| Current Liabilities | $238M | $220M | $218M | $158M | $153M | $141M | $146M | $133M | $126M | · | · | · | |
| Capital Leases | $10M | $11M | $12M | $12M | $11M | $12M | $13M | $13M | $12M | · | · | · | |
| Deferred Tax | $175M | $210M | $211M | $123M | $108M | $105M | $101M | $101M | $131M | · | · | · | |
| Other Non-current Liabilities | $278.0K | $277.0K | $692.0K | $1M | $2M | $278.0K | $278.0K | $2M | $278.0K | · | · | · | |
| Total Liabilities | $1.88B | $1.90B | $1.91B | $1.52B | $1.50B | $1.49B | $1.50B | $1.49B | $1.62B | · | · | · | |
| Long-term Debt | $1.47B | $1.47B | $1.48B | $1.23B | $1.23B | $1.23B | $1.23B | $1.23B | $1.35B | · | · | · | |
| Total Debt | $1.47B | $1.47B | · | $1.23B | $1.23B | $1.23B | · | $1.23B | $1.35B | · | · | · | |
| Common Stock | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | · | · | |
| Paid-in Capital | $4.02B | $4.00B | $3.99B | $3.35B | $3.33B | $3.32B | $3.30B | $3.29B | $3.18B | · | · | · | |
| Retained Earnings | $-25M | $-66M | $-109M | $-129M | $-159M | $-192M | $-221M | $-240M | $-245M | · | · | · | |
| Treasury Stock | $13M | · | · | · | · | · | · | · | · | · | · | · | |
| AOCI | $1M | $846.0K | $-632.0K | $-542.0K | $-431.0K | $316.0K | $881.0K | $192.0K | $11M | · | · | · | |
| Stockholders' Equity | $3.99B | $3.94B | $3.88B | $3.22B | $3.17B | $3.13B | $3.08B | $3.05B | $2.95B | · | $2.05B | · | |
| Liabilities + Equity | $5.87B | $5.84B | $5.79B | $4.75B | $4.68B | $4.62B | $4.58B | $4.54B | $4.57B | · | · | · | |
| Shares Outstanding | 191,923,976 | 191,685,290 | 191,587,193 | 174,667,840 | 174,146,070 | 172,963,709 | 172,108,240 | 172,086,129 | 166,659,634 | · | · | · |
Cash Flow 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $41M | $41M | $40M | $33M | $33M | $33M | $38M | $60M | $44M | $44M | $45M | $44M | |
| Stock-based Comp | $14M | $11M | $12M | $12M | $12M | $7M | $7M | $8M | $37M | $3M | $2M | $2M | |
| Deferred Tax | $-35M | $-2M | $22M | $16M | $3M | $5M | $-1M | $-16M | $-23M | $-20M | $-15M | $-21M | |
| Amort. of Intangibles | $34M | $34M | $34M | $28M | $28M | $28M | $31M | $39M | $39M | $39M | $39M | $40M | |
| Other Non-cash | · | $-9M | · | · | · | $-10M | · | · | · | · | · | · | |
| Operating Cash Flow | $59M | $85M | $67M | $82M | $97M | $64M | $65M | $79M | $15M | $11M | $11M | $-10M | |
| CapEx | $16M | $15M | $9M | $6M | $6M | $5M | $6M | $9M | $7M | $6M | $6M | $6M | |
| Investing Cash Flow | $-70M | $-112M | $-664M | $45M | $-32M | $-30M | $-6M | $-9M | $-7M | $-6M | $-16M | $-36M | |
| Debt Issued | $0 | $20M | $390M | $0 | $0 | $0 | $31M | $10M | $0 | $535M | · | · | |
| Net Debt Issued | · | $-4M | · | · | · | $-3M | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | $11M | · | $2M | $-104.0K | $71.0K | · | $1.0K | |
| Stock Repurchased | · | · | $0 | $0 | · | · | $0 | $0 | $619.0K | $225.0K | $0 | $1.0K | |
| Net Stock Activity | · | · | · | · | · | $11M | · | · | · | · | · | · | |
| Financing Cash Flow | $-7M | $13M | $229M | $7M | $-3M | $11M | $2M | $-6M | $1M | $20M | $-3M | $-5M | |
| Net Change in Cash | $-17M | $-14M | $-369M | $134M | $62M | $45M | $60M | $64M | · | · | · | · | |
| Taxes Paid | $43M | $154.0K | $22M | $1M | $8M | $532.0K | $12M | $12M | $26M | $-54.0K | $13M | $31M | |
| Free Cash Flow | · | $70M | · | · | · | $59M | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.8% | 25.6% | · | 22.4% | 24.0% | 25.4% | · | 11.3% | 3.5% | · | · | · | |
| Net Margin | 12.8% | 13.8% | · | 11.4% | 11.9% | 11.4% | · | 2.2% | -11.8% | · | · | · | |
| Pretax Margin | 17.6% | 19.1% | · | 15.9% | 17.2% | 18.1% | · | 3.6% | -18.0% | · | · | · | |
| EBITDA Margin | 23.8% | 38.8% | · | 22.4% | 24.0% | 38.5% | · | 11.3% | 3.5% | · | · | · | |
| ROA | 0.77% | 0.83% | · | 0.66% | 0.70% | 1.3% | · | 0.24% | -1.2% | · | · | · | |
| ROE | 1.1% | 1.2% | · | 0.98% | 1.1% | 1.9% | · | 0.35% | -1.9% | · | · | · | |
| ROIC | 1.0% | 1.1% | · | 0.97% | 1.0% | 0.95% | · | 0.39% | 0.13% | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 1.8 | · | 3.9 | 3.4 | 3.1 | · | 2.3 | 2.2 | · | · | · | |
| Quick Ratio | 0.8 | 0.9 | · | 3.6 | 2.8 | 2.6 | · | 2.0 | 1.7 | · | · | · | |
| Debt / Equity | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.5 | · | · | · | |
| LT Debt / Equity | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.5 | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | · | |
| Receivables Turnover | 1.9 | 2.0 | · | 1.9 | 1.9 | 3.5 | · | 3.5 | 3.2 | · | · | · |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.17B | $1.11B | · | $1.04B | $1.00B | $956M | · | $897M | $853M | · | · | · | |
| Net Income TTM | $147M | $135M | · | $98M | $39M | $-9M | · | $-54M | $-70M | · | · | · | |
| Market Cap | $3.94B | $4.62B | · | $6.62B | $7.12B | $6.46B | · | $4.80B | $3.58B | · | · | · | |
| Enterprise Value | $5.39B | $6.06B | · | $7.43B | $8.05B | $7.47B | · | $5.91B | $4.86B | · | · | · | |
| P/E | 26.3 | 33.0 | · | 70.2 | 255.4 | -249.1 | · | -63.4 | -38.4 | · | · | · | |
| P/S | 3.4 | 4.2 | · | 6.4 | 7.1 | 6.8 | · | 5.4 | 4.2 | · | · | · | |
| P/B | 1.0 | 1.2 | · | 2.1 | 2.2 | 2.1 | · | 1.6 | 1.2 | · | · | · | |
| P / Cash Flow | · | 54.4 | · | · | · | 100.6 | · | · | · | · | · | · | |
| P / FCF | · | 66.4 | · | · | · | 109.9 | · | · | · | · | · | · | |
| EV / EBITDA | 70.9 | 49.7 | · | 123.3 | 124.2 | 75.7 | · | 217.6 | 589.7 | · | · | · | |
| EV / FCF | · | 87.0 | · | · | · | 127.0 | · | · | · | · | · | · | |
| EV / Revenue | 4.6 | 5.5 | · | 7.2 | 8.0 | 7.8 | · | 6.6 | 5.7 | · | · | · | |
| Earnings Yield | 3.8% | 3.0% | · | 1.4% | 0.39% | -0.40% | · | -1.6% | -2.6% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Revenue | $1.10B | $944M | $791M | $705M |
| Operating Margin % | 22.7% | 13.1% | — | — |
| Net Income | $112M | $-19M | $-51M | $-51M |
| Diluted EPS | $0.61 | $-0.13 | $-0.42 | $-0.42 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.4 | — | — |
| Current Ratio | 1.4 | 2.5 | — | — |
| Quick Ratio | 1.1 | 2.2 | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | |
|---|---|---|---|---|
| Free Cash Flow | $283M | $142M | — | — |
Latest News Recent headlines mentioning this company
Trading Signals Recent buy/sell signals with entry price and risk/reward ratio
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Institutional owners (13F) 335 filers · $3.8B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 73 (-10 vs prior Q) | 68 (+2 vs prior Q) | 114 (-6 vs prior Q) | 92 (+9 vs prior Q) | +16.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| EQT Fund Management S.a r.l. | $510,774,842 | 24,879,437 | 13.29% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $390,592,530 | 19,025,452 | 10.16% | Shares |
| VANGUARD GROUP INC | $372,697,424 | 11,380,074 | 9.70% | Shares |
| Bain Capital Investors LLC | $271,889,856 | 13,243,539 | 7.08% | Shares |
| FMR LLC | $271,492,025 | 13,224,161 | 7.06% | Shares |
| Advent International, L.P. | $227,059,726 | 11,059,899 | 5.91% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $136,037,179 | 6,626,263 | 3.54% | Shares |
| GOLDENTREE ASSET MANAGEMENT LP | $126,275,710 | 6,160,110 | 3.29% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $106,765,444 | 5,200,460 | 2.78% | Shares |
| STATE STREET CORP | $93,865,377 | 4,572,108 | 2.44% | Shares |
| Artisan Partners Limited Partnership | $75,535,030 | 3,679,251 | 1.97% | Shares |
| MILLENNIUM MANAGEMENT LLC | $74,982,848 | 3,652,355 | 1.95% | Shares |
| NEUBERGER BERMAN GROUP LLC | $74,418,581 | 3,624,870 | 1.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $54,650,084 | 2,661,455 | 1.42% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $52,574,209 | 2,560,848 | 1.37% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $46,700,392 | 2,274,739 | 1.22% | Shares |
| Diamond Hill Capital Management, LLC (Investment Advisor) | $43,314,050 | 2,109,793 | 1.13% | Shares |
| BAMCO INC /NY/ | $36,699,428 | 1,787,600 | 0.96% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $33,472,338 | 1,630,411 | 0.87% | Shares |
| OBERWEIS ASSET MANAGEMENT INC/ | $32,629,643 | 1,589,364 | 0.85% | Shares |
| Clarkston Capital Partners, LLC | $32,030,701 | 1,560,190 | 0.83% | Shares |
| BANK OF AMERICA CORP /DE/ | $32,021,072 | 1,559,721 | 0.83% | Shares |
| Greenvale Capital LLP | $30,795,000 | 1,500,000 | 0.80% | Shares |
| Capital Research Global Investors | $30,082,588 | 1,465,299 | 0.78% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $26,318,310 | 1,281,944 | 0.68% | Shares |
| AVENIR CORP | $23,501,040 | 1,144,717 | 0.61% | Shares |
| ALTA FOX CAPITAL MANAGEMENT, LLC | $21,330,670 | 1,039,000 | 0.56% | Shares |
| PointState Capital LP | $21,156,206 | 1,030,502 | 0.55% | Shares |
| Select Equity Group, L.P. | $20,600,151 | 1,003,417 | 0.54% | Shares |
| Blue Door Asset Management, LLC | $19,996,220 | 974,000 | 0.52% | Shares |
| Sio Capital Management, LLC | $19,007,372 | 925,834 | 0.49% | Shares |
| BAIN CAPITAL VENTURE INVESTORS, LLC | $18,127,271 | 882,965 | 0.47% | Shares |
| Sunriver Management LLC | $17,553,150 | 855,000 | 0.46% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $17,301,411 | 842,738 | 0.45% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $16,920,641 | 824,191 | 0.44% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $15,633,267 | 761,484 | 0.41% | Shares |
| Balyasny Asset Management L.P. | $13,470,513 | 656,138 | 0.35% | Shares |
| Longaeva Partners L.P. | $12,969,396 | 631,729 | 0.34% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $12,044,294 | 586,668 | 0.31% | Shares |
| ArrowMark Colorado Holdings LLC | $12,018,878 | 585,430 | 0.31% | Shares |
| LOOMIS SAYLES & CO L P | $11,817,520 | 575,622 | 0.31% | Shares |
| NORGES BANK | $11,378,096 | 554,218 | 0.30% | Shares |
| GOLDMAN SACHS GROUP INC | $11,030,441 | 537,284 | 0.29% | Shares |
| RA CAPITAL MANAGEMENT, L.P. | $10,868,582 | 529,400 | 0.28% | Shares |
| Mawer Investment Management Ltd. | $9,855,817 | 480,069 | 0.26% | Shares |
| Cubist Systematic Strategies, LLC | $9,068,902 | 239,159 | 0.24% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $8,753,315 | 426,367 | 0.23% | Shares |
| USS Investment Management Ltd | $8,422,040 | 410,131 | 0.22% | Shares |
| Bank of New York Mellon Corp | $8,305,596 | 404,559 | 0.22% | Shares |
| Public Sector Pension Investment Board | $8,117,521 | 395,398 | 0.21% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $8,115,940 | 395,321 | 0.21% | Shares |
| RAYMOND JAMES FINANCIAL INC | $8,046,590 | 391,943 | 0.21% | Shares |
| Main Street Financial Solutions, LLC | $7,958,455 | 387,650 | 0.21% | Shares |
| RENAISSANCE GROUP LLC | $7,359,902 | 358,495 | 0.19% | Shares |
| MARATHON CAPITAL MANAGEMENT | $6,472,390 | 315,265 | 0.17% | Shares |
| Bellevue Group AG | $6,027,444 | 293,592 | 0.16% | Shares |
| Weiss Asset Management LP | $5,935,367 | 289,107 | 0.15% | Shares |
| OSTERWEIS CAPITAL MANAGEMENT INC | $5,776,321 | 281,360 | 0.15% | Shares |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | $5,438,397 | 264,900 | 0.14% | Shares |
| RHUMBLINE ADVISERS | $5,266,025 | 256,505 | 0.14% | Shares |
| AMERIPRISE FINANCIAL INC | $5,034,819 | 245,242 | 0.13% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $4,902,502 | 238,797 | 0.13% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,877,969 | 237,602 | 0.13% | Shares |
| Swiss National Bank | $4,736,271 | 230,700 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,730,112 | 230,400 | 0.12% | Put option |
| VICTORY CAPITAL MANAGEMENT INC | $4,478,599 | 218,149 | 0.12% | Shares |
| Walleye Capital LLC | $4,427,582 | 215,664 | 0.12% | Shares |
| Parkman Healthcare Partners LLC | $4,187,833 | 203,986 | 0.11% | Shares |
| Qube Research & Technologies Ltd | $4,128,870 | 201,114 | 0.11% | Shares |
| Roubaix Capital, LLC | $3,926,034 | 191,234 | 0.10% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,881,443 | 189,062 | 0.10% | Shares |
| HSBC HOLDINGS PLC | $3,845,515 | 187,312 | 0.10% | Shares |
| BLAIR WILLIAM & CO/IL | $3,760,870 | 183,189 | 0.10% | Shares |
| Rhenman & Partners Asset Management AB | $3,665,960 | 178,566 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $3,630,813 | 176,854 | 0.09% | Shares |
| Mariner, LLC | $3,619,317 | 176,297 | 0.09% | Shares |
| Legal & General Group Plc | $3,611,453 | 175,911 | 0.09% | Shares |
| Blue Door Asset Management, LLC | $3,592,750 | 175,000 | 0.09% | Call option |
| Caption Management, LLC | $3,551,690 | 173,000 | 0.09% | Put option |
| KORNITZER CAPITAL MANAGEMENT INC /KS | $3,538,961 | 172,380 | 0.09% | Shares |
| WINTON GROUP Ltd | $3,488,314 | 169,913 | 0.09% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,392,976 | 140,729 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $3,280,694 | 159,800 | 0.09% | Call option |
| ALLIANCEBERNSTEIN L.P. | $3,237,732 | 134,290 | 0.08% | Shares |
| Nuveen, LLC | $3,178,496 | 154,822 | 0.08% | Shares |
| Advantage Alpha Capital Partners LP | $2,999,813 | 79,109 | 0.08% | Shares |
| Taproot Management LP | $2,881,917 | 119,532 | 0.07% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $2,835,000 | 138,100 | 0.07% | Shares |
| Pamalican Asset Management Ltd | $2,802,000 | 75,000 | 0.07% | Call option |
| Gotham Asset Management, LLC | $2,688,198 | 130,940 | 0.07% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,650,218 | 129,090 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $2,463,093 | 65,700 | 0.06% | Call option |
| BlackRock, Inc. | $2,372,159 | 115,546 | 0.06% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $2,290,163 | 111,552 | 0.06% | Shares |
| CITADEL ADVISORS LLC | $2,192,604 | 106,800 | 0.06% | Put option |
| Caption Management, LLC | $2,155,650 | 105,000 | 0.06% | Shares |
| Orion Porfolio Solutions, LLC | $2,155,588 | 104,997 | 0.06% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $2,125,512 | 103,532 | 0.06% | Shares |
| CITADEL ADVISORS LLC | $2,069,937 | 100,825 | 0.05% | Shares |
| Ghisallo Capital Management LLC | $2,053,000 | 100,000 | 0.05% | Shares |
Company insiders 19 insiders · 8 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Steven M Oreskovich | Chief Financial Officer | June 9, 2026 F | 424,200 | 0 | 1 | $-674,806 |
| Craig T. Bridge | Chief Transformation Officer | Aug. 1, 2026 A | 864,026 | 0 | 0 | $0 |
| Gregory R Packer | Chief Legal officer | Aug. 1, 2026 A | 425,009 | 0 | 0 | $0 |
| Kimberly S. Wittman | Chief People Officer | June 9, 2026 F | 270,233 | 0 | 0 | $0 |
| Christopher L. Schremser | Chief Technology Officer | June 9, 2026 F | 495,033 | 0 | 0 | $0 |
| Melissa F. (Missy) Miller | Chief Marketing Officer | June 9, 2026 F | 252,077 | 0 | 0 | $0 |
| Iii Eric L. (Ric) Sinclair | Chief Business Officer | June 25, 2025 M | 490,870 | 0 | 0 | $0 |
| Matthew R. A. Heiman | Title: Chief Legal & Administrative Officer. | June 6, 2024 A | 86,956 | 0 | 0 | $0 |
| Aashima Gupta | Director | June 3, 2026 A | 14,437 | 0 | 0 | $0 |
| Robert Demichiei | Director | June 3, 2026 A | 46,199 | 0 | 0 | $0 |
| Vivian E. Riefberg | Director | June 3, 2026 A | 23,132 | 0 | 0 | $0 |
| Michael F Roman | Director | June 3, 2026 A | 14,437 | 0 | 0 | $0 |
| Priscilla Hung | Director | June 3, 2026 A | 23,132 | 0 | 0 | $0 |
| John Patrick Driscoll | Director | June 3, 2026 A | 100,060 | 0 | 0 | $0 |
| Heidi Miller | Director | June 3, 2026 A | 40,917 | 1 | 0 | $189,000 |
| Paul G Moskowitz | Director | Sept. 12, 2025 J | 13,243,539 | 0 | 1 | $-168,412,400 |
| Matthew J. Hawkins | — | Aug. 13, 2026 M | 1,835,081 | 0 | 4 | $-3,677,981 |
| Todd Charles Woods | — | Aug. 1, 2026 A | 220,506 | 0 | 0 | $0 |
| Alpana Wegner | — | July 24, 2026 A | 162,112 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| ADVENT INTERNATIONAL, L.P., Advent International GP, LLC, AIO Holdings L.P. | Oct. 3, 2025 | 5.80% | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 71 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| HEAL · Global X Funds | 3.13% | 39,327 NS | May 31, 2026 | N-PORT |
| PSCH · Invesco Exchange-Traded Fund Trust … | 1.41% | 99,883 SH | Aug. 8, 2026 | Daily |
| LFSC · RBB Fund, Inc. | 1.05% | 55,155 NS | May 31, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 0.98% | 20,187 NS | May 31, 2026 | N-PORT |
| GSC · Goldman Sachs ETF Trust | 0.71% | 89,895 NS | May 31, 2026 | N-PORT |
| SVAL · iShares Trust | 0.41% | 36,836 SH | Aug. 8, 2026 | Daily |
| NBGX · Neuberger Berman ETF Trust | 0.41% | 3,056 NS | May 31, 2026 | N-PORT |
| IHF · iShares Trust | 0.40% | 211,430 SH | Aug. 8, 2026 | Daily |
| CAFG · Pacer Funds Trust | 0.34% | 3,609 NS | April 30, 2026 | N-PORT |
| RZG · Invesco Exchange-Traded Fund Trust | 0.34% | 19,220 SH | Aug. 8, 2026 | Daily |
| IJT · iShares Trust | 0.30% | 1,068,627 SH | Aug. 8, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.26% | 136,987 SH | Aug. 8, 2026 | Daily |
| VFVA · VANGUARD WELLINGTON FUND | 0.20% | 80,721 SH | Aug. 8, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.18% | 19,405 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.17% | 1,042,998 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.15% | 98,131 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.15% | 7,026,024 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.13% | 402,720 SH | Aug. 8, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 29,904 NS | April 30, 2026 | N-PORT |
| SAA · ProShares Trust | 0.10% | 1,374 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.10% | 42,956 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.09% | 109,199 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.09% | 79,203 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.09% | 299,579 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.08% | 2,862,479 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.07% | 47,805 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 644,105 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.06% | 1,525,895 SH | Aug. 8, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.06% | 17,190 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.06% | 68,554 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.06% | 5,185 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.05% | 344,248 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.05% | 6,047 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.05% | 550,302 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.04% | 52,484 NS | April 30, 2026 | N-PORT |
| SMLF · iShares Trust | 0.04% | 66,768 SH | Aug. 8, 2026 | Daily |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 32,362 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.03% | 4,055 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 1,323,565 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.03% | 2,632,309 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 345,269 SH | Aug. 8, 2026 | Daily |
| NBCR · Neuberger Berman ETF Trust | 0.03% | 11,706 NS | May 31, 2026 | N-PORT |
| FNDA · SCHWAB STRATEGIC TRUST | 0.03% | 114,680 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 6,906 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.02% | 4,105 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 10,681 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.02% | 3,080 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 4,210 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 58,392 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 103 NS | May 31, 2026 | N-PORT |