Teladoc Health vs Waystar Holding
Teladoc Health is the larger business, with $2.53bn of revenue in fiscal 2025 against $1.10bn for Waystar Holding (2.3 times as much). Waystar Holding grew faster (16.5% against -1.5%). Waystar Holding kept more of each dollar of sales as profit: a net margin of 10.2% against -7.9%.
| Latest fiscal year | Teladoc HealthTDOC, 2025 | Waystar HoldingWAY, 2025 |
|---|---|---|
| Revenue | $2.53bn | $1.10bn |
| Revenue growth | -1.5% | 16.5% |
| Net income | −$200m | $112m |
| Operating margin | — | 22.7% |
| Net margin | -7.9% | 10.2% |
| Return on equity | -13.9% | 3.2% |
| Free cash flow | $285m | $283m |
| Cash | $781m | $61.4m |
| Total debt | $995m | $1.48bn |
| Debt to equity | — | 38.2% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $0 |
| Employees | 5,600 | 1,700 |
| Market value | $1.62bn | $5.34bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | 36 (Weak) | — |
| Insider trades, 12 months | 1 buys, 37 sales | 1 buys, 12 sales |