Goodrx Holdings vs Waystar Holding
Waystar Holding is the larger business, with $1.10bn of revenue in fiscal 2025 against $797m for Goodrx Holdings (1.4 times as much). Waystar Holding grew faster (16.5% against 0.6%). Waystar Holding kept more of each dollar of sales as profit: a net margin of 10.2% against 3.8%. Waystar Holding carries less debt relative to equity (38.2% against 80.3%).
| Latest fiscal year | Goodrx HoldingsGDRX, 2025 | Waystar HoldingWAY, 2025 |
|---|---|---|
| Revenue | $797m | $1.10bn |
| Revenue growth | 0.6% | 16.5% |
| Net income | $30.4m | $112m |
| Operating margin | 11.0% | 22.7% |
| Net margin | 3.8% | 10.2% |
| Return on equity | 4.5% | 3.2% |
| Free cash flow | $164m | $283m |
| Cash | $262m | $61.4m |
| Total debt | $495m | $1.48bn |
| Debt to equity | 80.3% | 38.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $216m | $0 |
| Employees | 697 | 1,700 |
| Market value | $1.22bn | $5.34bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 28 (Weak) | — |
| Insider trades, 12 months | 0 buys, 14 sales | 1 buys, 12 sales |