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WaFd, Inc.

WAFD Financial Banks Regional

WaFd, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $1.4 billion, down 1.52% from fiscal 2024. In the quarter to June 2026, revenue grew 1.80%, EPS grew 16.4%, free cash flow grew 33.9% and total debt rose 68.2%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.

29.10 0.35 −1.19%
Market cap
$2.2B
P/E
9.1×
Fwd P/E
10.9×
Dividend yield
3.71%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.10
Total sells 0.96
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 1 — — — — — — — — — —
Sell — — — 1 — 1 — — — — — —
Insider Ownership 1.44%

Capital & Financial Ratios $m

Market Cap 2,180.00
Revenue 1,388.53
Net Income 256.47
Free Cash Flow 278.65
Net Debt 2,586.89
Current Ratio 0.98
Debt/Equity 1.08
P/E ratio 9.12
Fwd P/E 10.90
P/S ratio 1.55
P/B ratio 0.79
Past 5Y EPS Growth 3.08%
This Y EPS Growth 9.55%
Next Y EPS Growth 4.50%
Next Y revenue growth (43.77%) (below 0%: weak)
Next 5Y EPS Growth 11.80%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 11.39%
10-year low 10-year high
P/S against its own 10 years 4.02%
10-year low 10-year high
P/B against its own 10 years 3.58%
10-year low 10-year high

Dividends

Payout Ratio 0.34
Annual Dividend Rate 1.08
Annual Dividend Yield 3.71%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.08
0.27
0.27
0.27
2025 1.08
0.27
0.27
0.27
0.27
2024 1.04
0.26
0.26
0.26
0.26
2023 1.00
0.25
0.25
0.25
0.25
2022 0.96
0.24
0.24
0.24
0.24
2021 0.92
0.23
0.23
0.23
0.23
2020 0.88
0.22
0.22
0.22
0.22
2019 0.82
0.20
0.20
0.21
0.21
2018 0.70
0.17
0.17
0.18
0.18
2017 0.60
0.15
0.15
0.15
0.15
2016 0.56
0.14
0.14
0.14
0.14
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 981 2,381 657 676
Receivables — — — —
Inventory — — — —
Other — — — —
18,544 23,400 20,845 20,793
2023 2024 2025 Q'26
Payables 16,070 21,374 21,438 20,932
ST’ Debt — — — —
Other — — — —
16,346 21,680 21,783 21,223

Compound Annual Growth %

10y 5y 3y
Sales 9.47% 14.78% 24.40%
Cash Flow 5.19% 7.30% (4.08%)
Earnings 2.81% 4.04% (1.57%)
Book Value 4.51% 8.58% 10.15%

Revenue $m

Dec Mar Jun Sep Year
’26 343 345 356 — —
’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
’20 211 176 163 158 708
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.

EPS $

Dec Mar Jun Sep Year
’26 0.79 0.82 0.84 — —
’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
’20 0.84 0.49 0.46 0.45 2.26
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

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 19.11 29.80 24.67 25.47 20.01 25.13 29.46 23.36 25.79 23.75

Analyst estimates 2026–2028

Powerpack
High 35.95 35.90 37.70 38.26 36.85 36.84 39.17 37.29 38.62 33.81
People
People Employees 1,806 1,818 1,877 1,971 2,080 2,082 2,132 2,120 2,208 2,037
Revenue/emp, $m 0.32 0.33 0.35 0.37 0.34 0.31 0.34 0.52 0.65 0.69
Income, $m
Income, $m Revenue 584 601 651 734 708 652 733 1,095 1,432 1,411
Gross margin, % 80.04 80.54 79.28 74.05 78.57 86.74 90.21 67.79 50.37 51.43
EBT 248 256 257 263 219 233 300 325 256 290
EBT margin, % 42.50 42.62 39.51 35.81 30.95 35.75 40.95 29.68 17.88 20.53
Net income 164 174 204 210 173 184 236 257 200 226
Depreciation 20 42 47 31 40 34 64 23 134 10
Per share, $
Per share, $ Revenue 6.39 6.76 7.66 9.12 9.23 8.99 11.22 16.80 19.29 17.59
Earnings 1.79 1.95 2.40 2.61 2.26 2.39 3.40 3.72 2.50 2.64
Cash flow 2.43 2.02 2.24 2.91 2.17 4.34 4.11 3.28 5.92 2.96
Capex (0.30) (0.12) (0.32) (0.25) 0.30 0.05 0.00 0.02 0.02 0.02
Free cash flow 2.13 1.91 1.92 2.66 2.47 4.38 4.11 3.30 5.93 2.98
Book value 21.62 22.56 23.49 25.26 26.25 29.31 34.83 37.22 40.41 37.91
Shares, m 91 89 85 80 77 73 65 65 74 80
Valuation, ×
Valuation, × P/E 14.91 17.41 13.09 14.17 9.31 14.30 8.82 6.84 14.05 11.43
P/S 4.18 5.02 4.10 4.06 2.26 3.82 2.67 1.52 1.81 1.72
P/B 1.23 1.50 1.34 1.46 0.79 1.36 0.99 0.78 0.96 0.89
EV/Sales 6.97 8.20 7.27 6.55 3.67 3.25 4.64 3.95 2.43 2.51
EV/FCF 20.90 29.10 28.93 22.45 13.68 6.66 12.66 20.13 7.88 14.82
Cash, $m
Cash, $m Operating cash flow 222 180 191 234 167 314 268 214 439 237
Capex (27) (10) (27) (20) 23 3 0 1 1 2
Free cash flow 195 169 164 214 190 318 269 215 441 239
Balance, $m
Balance, $m Working capital (390) 271 312 265 519 218 539 2,199 1,720 (939)
Total debt 2,080 2,225 2,330 2,250 2,700 1,720 2,125 3,650 3,268 1,766
Net debt 1,630 1,912 2,061 1,831 997 (371) 1,441 2,669 886 1,108
Shareholders’ equity 1,976 2,006 1,997 2,033 2,014 2,126 2,274 2,426 3,000 3,040
Returns, %
Returns, % ROA 1.11 1.15 1.31 1.30 0.98 0.90 1.10 1.12 0.73 0.77
ROIC 4.30 4.09 3.96 4.25 4.55 8.30 5.05 3.99 4.12 4.36
ROE 8.35 8.72 10.19 10.43 8.57 9.04 11.67 11.84 7.68 7.77
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

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
BBT Beacon Financial Corporation $2.3B 15.1× 9.7× +99.71% (above 0%: growing) +211.49% (above 0%: growing) +88.09% (above 0%: growing) 68.58% 0.00% Compare
MBIN Merchants Bancorp $2.3B 9.8× 9.1× −4.26% (below 0%: shrinking) +146.67% (above 0%: growing) +267.73% (above 0%: growing) 53.63% 0.00% Compare
OFG OFG Bancorp $2.2B 10.3× 9.8× +2.40% (above 0%: growing) +20.87% (above 0%: growing) +41.84% (above 0%: growing) 82.69% 0.00% Compare
WAFD WaFd, Inc. $2.2B 9.1× 10.9× +1.80% (above 0%: growing) +16.44% (above 0%: growing) +33.88% (above 0%: growing) 57.68% 0.00%
NWBI Northwest Bancshares, Inc. $2.2B 14.2× 10.3× +18.20% (above 0%: growing) +42.31% (above 0%: growing) +538.73% (above 0%: growing) 75.69% 0.00% Compare
EFSC Enterprise Financial Services Corporation $2.2B 11.8× 11.1× +1.34% (above 0%: growing) −19.12% (below 0%: shrinking) +15.23% (above 0%: growing) 75.04% 0.00% Compare
SRCE 1st Source Corporation $2.1B 12.3× 11.1× +3.88% (above 0%: growing) +29.14% (above 0%: growing) +16.78% (above 0%: growing) 75.70% 0.00% Compare
FCF First Commonwealth Financial Corporation $2.0B 12.4× 11.1× +1.44% (above 0%: growing) +37.50% (above 0%: growing) −98.48% (below 0%: shrinking) 74.84% 0.00% Compare
TBBK The Bancorp, Inc. $2.0B 9.2× 9.1× −9.61% (below 0%: shrinking) +14.06% (above 0%: growing) −31.16% (below 0%: shrinking) 79.72% 0.00% Compare
Median of peers $2.2B 12.1× 10.1× +1.92% +33.32% +29.31% 75.36% 0.00%

All 323 Banks Regional stocks →

WaFd, Inc. (WAFD) key facts

  • Concern: WaFd, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $1.4 billion, down 1.52% from fiscal 2024.
  • Strength: Net income was $226.1 million, or $2.64 per share (basic), a net margin of 15.0%.
  • WaFd, Inc. (WAFD) is a Banks Regional company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, WAFD traded at $29.10, a market capitalization of $2.2 billion.
  • At that price the stock trades at 9.1× trailing-twelve-month earnings and 1.5× sales; its P/E is higher than 11% of its own readings over the past ten years.
  • WaFd, Inc. pays an annual dividend of $1.08 per share, a yield of 3.71%, with a payout ratio of 34.1%.
  • Return on equity was 7.77% and debt-to-equity 1.08.
  • Its Piotroski F-score is 6 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

WaFd, Inc. (WAFD) Latest News

11 Sep

Impact 5 ·

8 Sep

Impact 5 ·
Impact 5 ·
Impact 5 ·
Impact 5 ·

7 Sep

Impact 5 ·
stockrow.com/WAFD · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com