Doximity (DOCS) vs Waystar (WAY)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Waystar (WAY) has outperformed Doximity (DOCS) over the past year, losing 31.3% versus a loss of 60.0%. Doximity is the larger company by market cap ($5.24 billion vs $5.08 billion), about 1.0 times the size, while Waystar is growing revenue faster (+16.5% vs +13.1%). On valuation, Waystar trades at a lower forward P/E (14.1x vs 18.9x for Doximity).
Doximity converts more of its revenue into profit, with a net margin of 30.4% versus 10.2%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | DOCS | WAY |
|---|---|---|
| Share price | $29.38 | $26.48 |
| Market cap | $5.24B | $5.08B |
| 1-day change | +6.10% | +2.76% |
| YTD return | -33.65% | -19.15% |
| 1-year return | -60.04% | -31.33% |
| 5-year return | -57.96% | — |
| P/E ratio (TTM) | 34.56 | 37.83 |
| Forward P/E | 18.87 | 14.09 |
| EPS (TTM) | $0.85 | $0.70 |
| Dividend yield | 0.00% | 0.00% |
| Annual dividend | $0.00 | $0.00 |
| Revenue (latest FY) | $644.86M | $1.10B |
| Revenue growth (YoY) | +13.05% | +16.50% |
| Net income (latest FY) | $196.05M | $112.09M |
| Gross margin | 89.09% | 68.33% |
| Operating margin | 33.33% | 22.68% |
| Net margin | 30.40% | 10.20% |
| 52-week high | $72.24 | $40.35 |
| 52-week low | $17.15 | $17.26 |
| Distance from 52-week high | -59.33% | -34.37% |
| Analyst consensus | hold | strong_buy |
| Avg. price target upside | +0.99% | +27.53% |
| Average volume | 4.44M | 2.42M |
| Shares outstanding | 127.35M | 191.75M |
| Employees | 880 | 1,700 |
| Sector | Technology | Technology |
| Industry | EDP Services | EDP Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- WAY has outperformed DOCS by 28.7 percentage points over the past year.
- Doximity is more profitable, keeping 30.4 cents of every revenue dollar as net income versus 10.2 cents for Waystar.
About Doximity
DOCS stock →Doximity, Inc. operates a digital platform for medical professionals in the United States.
Technology · EDP Services · 880 employees
About Waystar
WAY stock →Waystar Holding Corp. develops a cloud-based software solution for healthcare payments.
Technology · EDP Services · 1,700 employees
DOCS vs WAY FAQ
Which is bigger, Doximity or Waystar?
Doximity (DOCS) is larger, with a market capitalization of $5.24B compared with $5.08B for Waystar (WAY).
Which stock has performed better over the past year, DOCS or WAY?
WAY returned -31.33% over the past 12 months, compared with -60.04% for DOCS (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, DOCS or WAY?
DOCS has the lower trailing P/E at 34.6, versus 37.8 for WAY. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Are Doximity and Waystar in the same industry?
Yes. Both are classified in the EDP Services industry within the Technology sector.