WallStSmart

BrightSpring Health Services, Inc. Common Stock (BTSG)vsWaystar Holding Corp. Common Stock (WAY)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

BrightSpring Health Services, Inc. Common Stock generates 1074% more annual revenue ($12.91B vs $1.10B). BTSG leads profitability with a 148.0% profit margin vs 10.2%. WAY trades at a lower P/E of 40.6x. BTSG earns a higher WallStSmart Score of 54/100 (C-).

BTSG

Buy

54

out of 100

Grade: C-

Growth: 8.7Profit: 6.0Value: 3.0Quality: 7.5
Piotroski: 5/9Altman Z: 2.62

WAY

Buy

51

out of 100

Grade: C-

Growth: 6.0Profit: 6.0Value: 5.7Quality: 6.0
Piotroski: 2/9Altman Z: 1.55
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

BTSGSignificantly Overvalued (-78.4%)

Margin of Safety

-78.4%

Fair Value

$22.46

Current Price

$41.21

$18.75 premium

UndervaluedFair: $22.46Overvalued
WAYSignificantly Overvalued (-471.8%)

Margin of Safety

-471.8%

Fair Value

$4.15

Current Price

$24.07

$19.92 premium

UndervaluedFair: $4.15Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

BTSG3 strengths · Avg: 9.3/10
Profit MarginProfitability
148.0%10/10

Keeps 148 of every $100 in revenue as profit

EPS GrowthGrowth
338.3%10/10

Earnings expanding 338.3% YoY

Revenue GrowthGrowth
29.3%8/10

Revenue surging 29.3% year-over-year

WAY4 strengths · Avg: 9.0/10
Price/BookValuation
1.2x10/10

Reasonable price relative to book value

Debt/EquityHealth
0.0110/10

Conservative balance sheet, low leverage

Operating MarginProfitability
23.6%8/10

Strong operational efficiency at 23.6%

Revenue GrowthGrowth
24.3%8/10

Revenue surging 24.3% year-over-year

Areas to Watch

BTSG4 concerns · Avg: 2.8/10
Return on EquityProfitability
5.9%3/10

ROE of 5.9% — below average capital efficiency

Operating MarginProfitability
3.0%3/10

Operating margin of 3.0%

Debt/EquityHealth
1.483/10

Elevated debt levels

P/E RatioValuation
87.7x2/10

Premium valuation, high expectations priced in

WAY4 concerns · Avg: 3.0/10
Altman Z-ScoreHealth
1.554/10

Distress zone — elevated risk

Return on EquityProfitability
3.2%3/10

ROE of 3.2% — below average capital efficiency

Piotroski F-ScoreQuality
2/93/10

Weak financial health signals

P/E RatioValuation
40.6x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : BTSG

The strongest argument for BTSG centers on Profit Margin, EPS Growth, Revenue Growth. Profitability is solid with margins at 148.0% and operating margin at 3.0%. Revenue growth of 29.3% demonstrates continued momentum.

Bull Case : WAY

The strongest argument for WAY centers on Price/Book, Debt/Equity, Operating Margin. Revenue growth of 24.3% demonstrates continued momentum.

Bear Case : BTSG

The primary concerns for BTSG are Return on Equity, Operating Margin, Debt/Equity. A P/E of 87.7x leaves little room for execution misses.

Bear Case : WAY

The primary concerns for WAY are Altman Z-Score, Return on Equity, Piotroski F-Score. A P/E of 40.6x leaves little room for execution misses.

Key Dynamics to Monitor

BTSG is growing revenue faster at 29.3% — sustainability is the question.

BTSG generates stronger free cash flow (174M), providing more financial flexibility.

Monitor HEALTH INFORMATION SERVICES industry trends, competitive dynamics, and regulatory changes.

Bottom Line

BTSG scores higher overall (54/100 vs 51/100), backed by strong 148.0% margins and 29.3% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

BrightSpring Health Services, Inc. Common Stock

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

BrightSpring Health Services, Inc. (BTSG) is a leading provider of home and community-based health services, specializing in meeting the intricate needs of a diverse patient population, including individuals with intellectual and developmental disabilities as well as those requiring rehabilitation. The company emphasizes personalized care solutions backed by a highly trained workforce, ensuring exceptional patient outcomes. BrightSpring's strategic investment in technology and commitment to quality enable it to thrive in the growing market for value-based care, making it well-positioned to capitalize on the ongoing evolution of the healthcare landscape.

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Waystar Holding Corp. Common Stock

HEALTHCARE · HEALTH INFORMATION SERVICES · USA

Waystar Holding Corp. The company is headquartered in Lehi, Utah.

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