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Side-by-side financial comparison of GIBRALTAR INDUSTRIES, INC. (ROCK) and Waystar Holding Corp. (WAY). Click either name above to swap in a different company.
Waystar Holding Corp. is the larger business by last-quarter revenue ($313.9M vs $225.0M, roughly 1.4× GIBRALTAR INDUSTRIES, INC.). On growth, GIBRALTAR INDUSTRIES, INC. posted the faster year-over-year revenue change (24.9% vs 22.4%). Waystar Holding Corp. produced more free cash flow last quarter ($90.3M vs $26.2M). Over the past eight quarters, Waystar Holding Corp.'s revenue compounded faster (15.7% CAGR vs -12.3%).
Gibraltar Industries, Inc. is a leading manufacturer and distributor of specialized building, infrastructure, and renewable energy products. Its offerings include ventilation systems, roofing accessories, solar mounting solutions, and landscape and garden products, serving residential, commercial construction, and clean energy markets primarily across North America, with a focus on innovative, sustainable solutions for its customers.
Waystar Holding Corp is a leading provider of integrated healthcare payment and revenue cycle management solutions. It serves healthcare providers, health systems, and payers across the United States, offering tools that streamline billing, claims processing, patient payment collection, and revenue optimization to reduce administrative burdens and improve financial performance for healthcare organizations.
ROCK vs WAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $225.0M | $313.9M |
| Net Profit | — | $43.3M |
| Gross Margin | 25.3% | — |
| Operating Margin | 7.9% | 25.6% |
| Net Margin | — | 13.8% |
| Revenue YoY | 24.9% | 22.4% |
| Net Profit YoY | — | 47.9% |
| EPS (diluted) | — | $0.42 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $313.9M | ||
| Q4 25 | $225.0M | $303.5M | ||
| Q3 25 | $310.9M | $268.7M | ||
| Q2 25 | $309.5M | $270.7M | ||
| Q1 25 | $290.0M | $256.4M | ||
| Q4 24 | $180.1M | $244.1M | ||
| Q3 24 | $277.1M | $240.1M | ||
| Q2 24 | $273.6M | $234.5M |
| Q1 26 | — | $43.3M | ||
| Q4 25 | — | $20.0M | ||
| Q3 25 | $-89.1M | $30.6M | ||
| Q2 25 | $26.0M | $32.2M | ||
| Q1 25 | $21.1M | $29.3M | ||
| Q4 24 | — | $19.1M | ||
| Q3 24 | $34.0M | $5.4M | ||
| Q2 24 | $32.2M | $-27.7M |
| Q1 26 | — | — | ||
| Q4 25 | 25.3% | — | ||
| Q3 25 | 26.6% | — | ||
| Q2 25 | 28.4% | — | ||
| Q1 25 | 26.8% | — | ||
| Q4 24 | 29.0% | — | ||
| Q3 24 | 29.4% | — | ||
| Q2 24 | 30.5% | — |
| Q1 26 | — | 25.6% | ||
| Q4 25 | 7.9% | 19.4% | ||
| Q3 25 | 12.8% | 22.4% | ||
| Q2 25 | 12.8% | 24.0% | ||
| Q1 25 | 8.8% | 25.4% | ||
| Q4 24 | 13.3% | 21.8% | ||
| Q3 24 | 15.6% | 11.3% | ||
| Q2 24 | 14.9% | 3.5% |
| Q1 26 | — | 13.8% | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | -28.6% | 11.4% | ||
| Q2 25 | 8.4% | 11.9% | ||
| Q1 25 | 7.3% | 11.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | 12.3% | 2.3% | ||
| Q2 24 | 11.8% | -11.8% |
| Q1 26 | — | $0.42 | ||
| Q4 25 | — | $0.10 | ||
| Q3 25 | $-2.98 | $0.17 | ||
| Q2 25 | $0.87 | $0.18 | ||
| Q1 25 | — | $0.16 | ||
| Q4 24 | — | $0.18 | ||
| Q3 24 | $1.11 | $0.03 | ||
| Q2 24 | $1.05 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $115.7M | $34.3M |
| Total DebtLower is stronger | $0 | $13.5M |
| Stockholders' EquityBook value | $950.4M | $3.9B |
| Total Assets | $1.4B | $5.8B |
| Debt / EquityLower = less leverage | 0.00× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $34.3M | ||
| Q4 25 | $115.7M | $61.4M | ||
| Q3 25 | $89.4M | $421.1M | ||
| Q2 25 | $43.3M | $290.3M | ||
| Q1 25 | $25.1M | $224.0M | ||
| Q4 24 | $269.5M | $182.1M | ||
| Q3 24 | $228.9M | $127.1M | ||
| Q2 24 | $179.1M | $68.4M |
| Q1 26 | — | $13.5M | ||
| Q4 25 | $0 | $1.5B | ||
| Q3 25 | $0 | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | $0 | — | ||
| Q4 24 | $0 | $1.2B | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — |
| Q1 26 | — | $3.9B | ||
| Q4 25 | $950.4M | $3.9B | ||
| Q3 25 | $951.8M | $3.2B | ||
| Q2 25 | $1.0B | $3.2B | ||
| Q1 25 | $1.0B | $3.1B | ||
| Q4 24 | $1.0B | $3.1B | ||
| Q3 24 | $1.0B | $3.1B | ||
| Q2 24 | $975.7M | $2.9B |
| Q1 26 | — | $5.8B | ||
| Q4 25 | $1.4B | $5.8B | ||
| Q3 25 | $1.4B | $4.7B | ||
| Q2 25 | $1.5B | $4.7B | ||
| Q1 25 | $1.4B | $4.6B | ||
| Q4 24 | $1.4B | $4.6B | ||
| Q3 24 | $1.4B | $4.5B | ||
| Q2 24 | $1.4B | $4.6B |
| Q1 26 | — | 0.00× | ||
| Q4 25 | 0.00× | 0.38× | ||
| Q3 25 | 0.00× | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.00× | — | ||
| Q4 24 | 0.00× | 0.40× | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $35.5M | $84.9M |
| Free Cash FlowOCF − Capex | $26.2M | $90.3M |
| FCF MarginFCF / Revenue | 11.7% | 28.8% |
| Capex IntensityCapex / Revenue | 4.1% | — |
| Cash ConversionOCF / Net Profit | — | 1.96× |
| TTM Free Cash FlowTrailing 4 quarters | $120.6M | $314.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $84.9M | ||
| Q4 25 | $35.5M | $66.6M | ||
| Q3 25 | $73.0M | $82.0M | ||
| Q2 25 | $44.9M | $96.8M | ||
| Q1 25 | $13.7M | $64.2M | ||
| Q4 24 | $19.9M | — | ||
| Q3 24 | $64.7M | $78.8M | ||
| Q2 24 | $36.5M | $15.4M |
| Q1 26 | — | $90.3M | ||
| Q4 25 | $26.2M | $57.2M | ||
| Q3 25 | $64.8M | $76.2M | ||
| Q2 25 | $27.3M | $91.0M | ||
| Q1 25 | $2.3M | $58.8M | ||
| Q4 24 | $14.1M | — | ||
| Q3 24 | $60.5M | $70.2M | ||
| Q2 24 | $33.5M | $8.6M |
| Q1 26 | — | 28.8% | ||
| Q4 25 | 11.7% | 18.9% | ||
| Q3 25 | 20.8% | 28.3% | ||
| Q2 25 | 8.8% | 33.6% | ||
| Q1 25 | 0.8% | 22.9% | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 21.8% | 29.2% | ||
| Q2 24 | 12.2% | 3.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | 3.1% | ||
| Q3 25 | 2.6% | 2.2% | ||
| Q2 25 | 5.7% | 2.1% | ||
| Q1 25 | 3.9% | 2.1% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 1.5% | 3.6% | ||
| Q2 24 | 1.1% | 2.9% |
| Q1 26 | — | 1.96× | ||
| Q4 25 | — | 3.33× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | 1.73× | 3.01× | ||
| Q1 25 | 0.65× | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.90× | 14.56× | ||
| Q2 24 | 1.13× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ROCK
| Transferred At Point In Time | $183.5M | 82% |
| Infrastructure | $22.5M | 10% |
| Other | $18.9M | 8% |
WAY
| Subscription | $172.2M | 55% |
| Volume-based | $139.5M | 44% |
