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WaFd, Inc.

WAFD Financial Banks Regional

WaFd, Inc.’s revenue for fiscal 2026 (year ended September 2026) was $1.4 billion, up 0.53% from fiscal 2025.

Revenue
+8.60%
EPS
+4.11%
Free cash flow
+33.9%
Total debt
+41.2%

Quarter to September 2026, against a year earlier

29.53 0.60 −1.99%
Market cap
$2.2B
P/E
9.2×
Fwd P/E
10.9×
Dividend yield
3.66%
F-score
n/a
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.05
Sold, $m 0.96
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy 1 — — — — — — — — — — —
Sell — — 1 — 1 — — — — — — —
Insider Ownership 1.56%

Capital & Financial Ratios $m

Size
Market Cap 2,180.00
Revenue ttm 1,418.18
Net income ttm 256.47
Free cash flow ttm 278.65
Net debt Q 1,743.70
Valuation
P/E 9.17
Forward P/E 10.90
Price / sales 1.54
Forward P/S Powerpack
Price / FCF 7.84
Price / book 0.81
Financial health
Current ratio Q 0.94
Debt / equity Q 0.83
Interest coverage Q —
Growth
Revenue growth Q +8.60% (above 0%: growing)
Operating income growth Q −0.70% (below 0%: shrinking)
EPS, this year +4.67%
EPS, next year A +10.52%
Revenue, next year A −43.77% (below 0%: weak)
EPS, past 5 yrs +6.08%
EPS, next 5 yrs A +11.80%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 12.21%
10-year low 10-year high
P/S against its own 10 years 3.92%
10-year low 10-year high
P/B against its own 10 years 5.24%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.66%
Annual rate
1.08
Payout ratio
33.6%
Growth, 2017–25
+7.62%/yr
  1. 0.60 ’17
  2. 0.70 ’18 +17
  3. 0.82 ’19 +17
  4. 0.88 ’20 +7
  5. 0.92 ’21 +5
  6. 0.96 ’22 +4
  7. 1.00 ’23 +4
  8. 1.04 ’24 +4
  9. 1.08 ’25 +4
  10. 1.08 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 981 2,381 657 750
Receivables — — — —
Inventory — — — —
Other — — — —
18,544 23,400 20,845 20,322
2023 2024 2025 2026
Payables 16,070 21,374 21,438 21,321
ST’ Debt — — — —
Other — — — —
16,346 21,680 21,783 21,623

Compound Annual Growth %

10y 5y 3y
Sales 9.28% 16.81% 9.00%
Cash Flow 5.19% 7.30% (4.08%)
Earnings 3.93% 6.80% (0.21%)
Book Value 4.27% 7.13% 7.33%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate 0.84 Actual 0.85

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q1 FY26 0.76 0.75 Miss by 0.01
Q2 FY26 0.74 0.83 Beat by 0.09
Q3 FY26 0.82 0.81 Miss by 0.01
Q4 FY26 0.84 0.85 Beat by 0.01
Q1 FY27 0.80 — Reports 21 January 2027

EPS $

Dec Mar Jun Sep Year
’26 — — — — —
’26 0.79 0.82 0.84 0.76 3.21
’25 0.54 0.65 0.73 0.72 2.63
’24 0.85 0.17 0.75 0.71 2.50
’23 1.16 0.95 0.89 0.72 3.72
’22 0.71 0.70 0.91 1.07 3.39
’21 0.51 0.56 0.61 0.72 2.39
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 — — — — —
’26 343 345 356 375 1,418
’25 361 355 350 345 1,411
’24 301 332 409 390 1,432
’23 247 265 287 295 1,095
’22 169 166 185 212 733
’21 162 161 161 169 652
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 60 79 70 — —
’25 49 72 58 57 237
’24 110 169 63 97 439
’23 66 45 20 83 214
’22 27 56 88 97 268
’21 94 111 45 65 314
’20 74 (23) 61 55 167
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 60 83 78 — —
’25 51 72 58 57 239
’24 102 178 63 97 441
’23 67 45 20 83 215
’22 24 53 85 106 269
’21 86 102 40 90 318
’20 122 (29) 50 46 190
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 601 651 734 708 652 733 1,095 1,432 1,411 1,418 +10.0% 1,834 2,255 — +26.1%
Gross margin, % 80.54 79.28 74.05 78.57 86.74 90.21 67.79 50.37 51.43 57.45 (23.1) pt
EBT 256 257 263 219 233 300 325 256 290 328 +2.8%
EBT margin, % 42.62 39.51 35.81 30.95 35.75 40.95 29.68 17.88 20.53 23.10 (19.5) pt
Net income 174 204 210 173 184 236 257 200 226 — +3.4%
Per share, $
Per share, $ Revenue 6.76 7.66 9.12 9.23 8.99 11.22 16.80 19.29 17.59 18.89 +12.1%
Earnings 1.95 2.40 2.61 2.26 2.39 3.40 3.72 2.50 2.64 3.21 +5.7%
Cash flow 2.02 2.24 2.91 2.17 4.34 4.11 3.28 5.92 2.96 0.00 n/m
Capex (0.12) (0.32) (0.25) 0.30 0.05 0.00 0.02 0.02 0.02 0.00 n/m
Free cash flow 1.91 1.92 2.66 2.47 4.38 4.11 3.30 5.93 2.98 0.00 n/m
Book value 22.56 23.49 25.26 26.25 29.31 34.83 37.22 40.41 37.91 39.96 +6.6%
Shares, m 89 85 80 77 73 65 65 74 80 75 (1.9%)
Valuation, ×
Valuation, × P/E 17.41 13.09 14.17 9.31 14.30 8.82 6.84 14.05 11.43 9.30 11.9
P/S 5.02 4.10 4.06 2.26 3.82 2.67 1.52 1.81 1.72 1.56 2.9
P/B 1.50 1.34 1.46 0.79 1.36 0.99 0.78 0.96 0.89 0.82 1.1
EV/Sales 8.20 7.27 6.55 3.67 3.25 4.64 3.95 2.43 2.51 — 4.7
EV/FCF 29.10 28.93 22.45 13.68 6.66 12.66 20.13 7.88 14.82 — 17.4
Cash, $m
Cash, $m Operating cash flow 180 191 234 167 314 268 214 439 237 — +3.5%
Capex (10) (27) (20) 23 3 0 1 1 2 — n/m
Free cash flow 169 164 214 190 318 269 215 441 239 — +4.4%
Balance, $m
Balance, $m Working capital 271 312 265 519 218 539 2,199 1,720 (939) (1,301) n/m
Net debt 1,912 2,061 1,831 997 (371) 1,441 2,669 886 1,108 1,744 (1.0%)
Shareholders’ equity 2,006 1,997 2,033 2,014 2,126 2,274 2,426 3,000 3,040 3,000 +4.6%
Returns, %
Returns, % ROA 1.15 1.31 1.30 0.98 0.90 1.10 1.12 0.73 0.77 0.89 (0.3) pt
ROIC 4.09 3.96 4.25 4.55 8.30 5.05 3.99 4.12 4.36 4.31 +0.2 pt
ROE 8.72 10.19 10.43 8.57 9.04 11.67 11.84 7.68 7.77 8.87 +0.2 pt
People
People Employees 1,818 1,877 1,971 2,080 2,082 2,132 2,120 2,208 2,037 — +1.4%
Revenue/emp, $m 0.33 0.35 0.37 0.34 0.31 0.34 0.52 0.65 0.69 0.00 n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2026 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

WaFd, Inc. vs peers in Banks Regional (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MBIN Merchants Bancorp $2.4B 8.3× 8.4× +13.68% (above 0%: growing) +136.04% (above 0%: growing) +267.73% (above 0%: growing) 57.39% 0.00% Compare
BUSE First Busey Corporation $2.3B 11.7× 11.5× −4.46% (below 0%: shrinking) +6.90% (above 0%: growing) +29.75% (above 0%: growing) 70.90% 0.00% Compare
NWBI Northwest Bancshares, Inc. $2.2B 11.1× 10.9× +8.47% (above 0%: growing) +1,650.00% (above 0%: growing) +538.73% (above 0%: growing) 75.12% 0.00% Compare
EFSC Enterprise Financial Services Corporation $2.2B 12.4× 12.3× −8.24% (below 0%: shrinking) −4.17% (below 0%: shrinking) +50.95% (above 0%: growing) 74.70% 0.00% Compare
BBAR BBVA Banco Frances S.A. $2.2B 7.9× — +0.73% (above 0%: growing) +83.33% (above 0%: growing) −107.66% (below 0%: shrinking) 67.81% 0.00% Compare
WAFD WaFd, Inc. $2.2B 9.2× 10.9× +8.60% (above 0%: growing) +4.11% (above 0%: growing) +33.88% (above 0%: growing) 58.85% 0.00%
OFG OFG Bancorp $2.1B 9.6× 9.4× −1.39% (below 0%: shrinking) +14.53% (above 0%: growing) +41.84% (above 0%: growing) 81.53% 0.00% Compare
SRCE 1st Source Corporation $2.1B 12.0× 11.6× +3.41% (above 0%: growing) +18.71% (above 0%: growing) +38.99% (above 0%: growing) 76.13% 0.00% Compare
FCF First Commonwealth Financial Corporation $2.0B 12.8× 12.0× +0.78% (above 0%: growing) +37.50% (above 0%: growing) −98.48% (below 0%: shrinking) 75.67% 0.00% Compare
Median of peers $2.2B 11.4× 11.5× +0.75% +28.11% +40.42% 74.91% 0.00%

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WAFD metrics, ten years each

stockrow.com/WAFD · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com