COMPARE · Reviewed August 3, 2026
HNGE vs WAY
Verdict: Side-by-side breakdown using the Bull Rankings model. HNGE scored 72.0, WAY scored 58.9 — HNGE leads.
Compare another set
Different reporting periods. WAY's fundamentals are as of June 2026, but HNGE's are as of March 2026 — a 3-month gap. Growth, margin and valuation figures below therefore describe different windows and aren't strictly like-for-like.
HNGE
Hinge Health, Inc.
72
$81.22 · $6.3B
fundamentals as of
Score gap
13.1
HNGE leads
WAY
Waystar Holding Corp.
58.9
$23.40 · $4.5B
fundamentals as of
The model, pillar by pillar (0–100 each)
HNGE
stronger →← stronger
WAY
62
Qualityreturns · margins · balance sheet
47
100
Growthrevenue & earnings expansion
95
60
Valuevaluation vs sector peers
45
HNGE is stronger on 3 of 3 pillars.
Fundamentals, head-to-head
HNGE
WAY
$209mC
FCF
$246mC
+49.8%A
Rev
+19.2%B+
0.02A-
D/E
0.37B
9.7xC+
P/S
—
—
PEG
1.96C+
—
P/E
33.4xC+
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
HNGE
WAY
28% above
Price vs fair valuelower is cheaper
0% above
~21%/yr
Growth the price implies10-yr FCF · lower = less priced in
~8%/yr
-41%
1-yr DCF upside
-12%
-22%
5-yr DCF upside
0%
+17%
10-yr DCF upside
+19%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
HNGE
Why this score
- Short track record
WAY
Why this score
- Diluting shareholders
- Short track record
The companies
HNGEHinge Health, Inc.
Why now
Health Information Services · market cap $6.3b. 11% off the 52-week high of $91.50. Revenue growing +50% — in hypergrowth territory. 15 sell-side analysts rate this a Buy with a mean 1-yr target of $92.67 (implying +14% upside).
Moat
Turnaround / out-of-favor name — GAAP-unprofitable for now, so the durability case is forward-looking: it rests on a recovery (margin normalization, a cyclical upturn or restructuring) or an un-monetized asset (IP / network effects / first-mover position) rather than on current reported results.
Risk
Currently unprofitable (margin -78.9%) — path to GAAP profitability is the core thesis risk. ROE -457% is below the long-run sustainable threshold of ~10% — capital efficiency would need to improve for the equity base to compound at the market rate.
WAYWaystar Holding Corp.
Why now
Health Information Services · market cap $4.5b. Down 44% from 52-week high of $41.47 — deep drawdown territory. Revenue growing +19%, comfortably above the S&P median. 23 sell-side analysts rate this a Strong Buy with a mean 1-yr target of $33.22 (implying +42% upside).
Moat
FCF converts 183% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Down 44% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Trailing P/E 33x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates. ROE 3% is below the long-run sustainable threshold of ~10% — capital efficiency would need to improve for the equity base to compound at the market rate.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.