Saturday 17 October 2026 Export WAL’s income statement to Excel — free account

Western Alliance Bancorporation

Western Alliance Bancorporation’s revenue for fiscal 2025 (year ended December 2025) was $5.4 billion, up 5.64% from fiscal 2024. In the quarter to June 2026, revenue grew 9.83%, EPS grew 13.5%, free cash flow was flat and total debt rose 8.54%, each against the same quarter a year earlier. Dividend growth for five consecutive years, revenue growth for ten.

74.57 0.22 +0.30%

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Market cap: $8.1B
P/E: 8.4×
Fwd P/E: 8.3×
Dividend yield: 2.25%
F-score: 4/9
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 sells 5.85

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	1	—	—	—	2	—	—	—	—

Insider Ownership 5.26%

Capital & Financial Ratios $m

Market Cap 8,110.00

Revenue 5,716.90

Net Income 1,011.70

Free Cash Flow (1,650.60)

Net Debt 1,369.00

Current Ratio 0.86

Debt/Equity 0.90

P/E ratio 8.36

Fwd P/E 8.33

P/S ratio 1.41

P/B ratio 1.03

Past 5Y EPS Growth 11.61%

This Y EPS Growth 2.97%

Next Y EPS Growth 21.80%

Next Y revenue growth (25.77%)

Next 5Y EPS Growth 12.43%

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

Valuation vs history

P/E against its own 10 years 18.54%

10-year low 10-year high

P/S against its own 10 years 7.89%

10-year low 10-year high

P/B against its own 10 years 8.59%

10-year low 10-year high

Dividends

Payout Ratio 0.19

Annual Dividend Rate 1.68

Annual Dividend Yield 2.25%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.68	0.42 0.42 0.42
2025	1.56	0.38 0.38 0.38 0.42
2024	1.49	0.37 0.37 0.37 0.38
2023	1.45	0.36 0.36 0.36 0.37
2022	1.42	0.35 0.35 0.36 0.36
2021	1.20	0.25 0.25 0.35 0.35
2020	1.00	0.25 0.25 0.25 0.25
2019	0.50	0.25 0.25
2018	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,576	4,096	3,596	5,936
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	52,938	59,684	65,310	70,745

	2023	2024	2025	Q'26
Payables	55,333	66,341	77,159	81,874
ST’ Debt	—	—	—	—
Other	—	—	—	—
	55,333	66,341	77,159	81,874

Compound Annual Growth %

	10y	5y	3y
Sales	25.48%	32.15%	21.21%
Cash Flow	0.00%	0.00%	0.00%
Earnings	17.32%	13.55%	(2.90%)
Book Value	17.44%	18.41%	14.05%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,441	1,431	—	—	—
’25	1,223	1,303	1,413	1,432	5,371
’24	1,185	1,263	1,326	1,311	5,084
’23	911	1,120	1,156	1,130	4,316
’22	591	675	801	950	3,016
’21	354	535	581	594	2,063
’20	312	340	325	355	1,333

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(507)	(356)	—	—	—
’25	(1,654)	(358)	(597)	(70)	(2,679)
’24	(306)	(746)	(1,068)	(622)	(2,742)
’23	357	(457)	(570)	341	(329)
’22	623	337	491	794	2,245
’21	100	(1,224)	(2,145)	615	(2,654)
’20	124	159	167	220	670

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(531)	(375)	—	—	—
’25	(1,671)	(379)	(626)	(118)	(2,793)
’24	(325)	(762)	(1,090)	(648)	(2,826)
’23	329	(490)	(596)	314	(443)
’22	597	316	454	738	2,104
’21	90	(1,227)	(2,164)	577	(2,723)
’20	113	158	154	219	643

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.65	2.36	—	—	—
’25	1.79	2.07	2.28	2.59	8.73
’24	1.60	1.75	1.80	1.95	7.09
’23	1.28	1.96	1.97	1.33	6.54
’22	2.22	2.39	2.42	2.67	9.70
’21	1.90	2.17	2.28	2.32	8.67
’20	0.83	0.93	1.36	1.93	5.04

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	26.60	44.64	37.39	38.55	20.90	57.98	54.86	7.46	53.75	57.05	Analyst estimates 2026–2028 Powerpack
	High	50.72	60.25	64.06	57.61	61.23	124.88	124.93	81.17	98.10	94.40
People
People	Employees	1,557	1,725	1,787	1,835	1,915	3,139	3,365	3,260	3,524	3,769
	Revenue/emp, $m	0.48	0.52	0.60	0.70	0.70	0.66	0.90	1.32	1.44	1.43
Income, $m
Income, $m	Revenue	743	891	1,077	1,290	1,333	2,063	3,016	4,316	5,084	5,371
	Gross margin, %	94.18	93.17	89.08	85.69	92.88	94.67	84.24	60.70	62.19	65.96
	EBT	361	452	510	604	623	1,123	1,316	934	991	1,207
	EBT margin, %	48.58	50.72	47.40	46.83	46.71	54.44	43.63	21.63	19.50	22.48
	Net income	260	325	436	499	507	899	1,057	722	788	991
	Depreciation	18	30	24	45	61	73	85	(17)	(99)	87
Per share, $
Per share, $	Revenue	7.21	8.55	10.28	12.56	13.30	20.09	28.14	39.85	46.82	49.37
	Earnings	2.50	3.10	4.16	4.86	5.04	8.72	9.74	6.54	7.14	8.79
	Cash flow	2.72	3.68	5.17	6.99	6.69	(25.84)	20.95	(3.03)	(25.25)	(24.62)
	Capex	(0.10)	0.12	(0.02)	(0.33)	(0.27)	(0.68)	(1.32)	(1.06)	(0.77)	(1.05)
	Free cash flow	2.62	3.80	5.15	6.66	6.42	(26.52)	19.63	(4.09)	(26.02)	(25.67)
	Book value	18.36	21.40	24.96	29.37	34.07	48.33	49.96	56.12	61.76	73.03
	Shares, m	103	104	105	103	100	103	107	108	109	109
Valuation, ×
Valuation, ×	P/E	19.65	18.29	9.52	11.75	11.87	12.39	6.01	9.89	11.75	9.58
	P/S	6.84	6.65	3.84	4.54	4.51	5.36	2.08	1.62	1.78	1.70
	P/B	2.69	2.66	1.58	1.94	1.76	2.37	1.24	1.21	1.41	1.20
	EV/Sales	7.06	7.04	4.17	4.51	2.93	6.27	4.12	3.14	2.25	2.21
	EV/FCF	19.43	15.84	8.32	8.50	6.07	(4.75)	5.90	(30.60)	(4.05)	(4.25)
Cash, $m
Cash, $m	Operating cash flow	281	384	541	718	670	(2,654)	2,245	(329)	(2,742)	(2,679)
	Capex	(11)	12	(2)	(34)	(27)	(69)	(141)	(114)	(84)	(114)
	Free cash flow	270	396	539	684	643	(2,723)	2,104	(443)	(2,826)	(2,793)
Balance, $m
Balance, $m	Working capital	(1,223)	(1,628)	(1,143)	(1,423)	(2,485)	(2,638)	135	(2,395)	(6,657)	(11,849)
	Total debt	448	767	851	394	570	2,398	7,192	8,125	6,472	6,316
	Net debt	163	350	353	(41)	(2,102)	1,882	6,149	6,549	2,376	2,720
	Shareholders’ equity	1,892	2,230	2,614	3,017	3,414	4,963	5,356	6,078	6,707	7,946
Returns, %
Returns, %	ROA	1.65	1.73	2.01	2.00	1.60	1.94	1.69	1.02	1.02	1.10
	ROIC	11.36	10.94	10.75	12.77	29.59	10.39	7.15	4.62	6.82	7.07
	ROE	14.92	15.80	18.00	17.73	15.76	22.17	21.47	13.09	12.71	13.60

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
ZION Zions Bancorporation, N.A.	$9.2B	8.1×	9.7×	+19.18% (above 0%: growing)	+87.12% (above 0%: growing)	+518.28% (above 0%: growing)	76.88%	0.00%	Compare
BSMX Grupo Financiero Santander Mexico S.A. B. de C.V.	$8.3B	5.1×	—	+69.52% (above 0%: growing)	+66.67% (above 0%: growing)	−144.08% (below 0%: shrinking)	51.50%	0.00%	Compare
WAL Western Alliance Bancorporation	$8.1B	8.4×	8.3×	+9.83% (above 0%: growing)	+13.46% (above 0%: growing)	+0.90% (above 0%: growing)	69.60%	0.00%
PB Prosperity Bancshares, Inc.	$8.1B	11.7×	12.3×	+19.38% (above 0%: growing)	+17.61% (above 0%: growing)	+70.11% (above 0%: growing)	75.21%	0.00%	Compare
COLB Columbia Banking System, Inc.	$8.1B	11.3×	10.0×	+22.18% (above 0%: growing)	0.00%	+238.82% (above 0%: growing)	75.39%	0.00%	Compare
CBSH Commerce Bancshares, Inc.	$8.0B	13.5×	13.0×	+12.33% (above 0%: growing)	−3.51% (below 0%: shrinking)	+68.33% (above 0%: growing)	84.73%	0.00%	Compare
CBC Central Bancompany	$8.0B	18.4×	14.9×	+10.36% (above 0%: growing)	+9.05% (above 0%: growing)	−5.17% (below 0%: shrinking)	85.56%	0.00%	Compare
BOKF BOK Financial Corporation	$7.6B	11.8×	12.5×	+3.20% (above 0%: growing)	+33.33% (above 0%: growing)	+1,441.49% (above 0%: growing)	67.23%	0.00%	Compare
VLY Valley National Bancorp	$7.1B	10.6×	10.8×	+4.09% (above 0%: growing)	+30.43% (above 0%: growing)	+2.65% (above 0%: growing)	62.09%	0.00%	Compare
Median of peers	$8.0B	11.5×	12.3×	+15.76%	+24.02%	+69.22%	75.30%	0.00%

All 323 Banks Regional stocks →

Western Alliance Bancorporation (WAL) key facts

Strength: Western Alliance Bancorporation’s revenue for fiscal 2025 (year ended December 2025) was $5.4 billion, up 5.64% from fiscal 2024.
Strength: Net income was $990.6 million, or $8.79 per share (basic), a net margin of 17.8%.
Western Alliance Bancorporation (WAL) is a Banks Regional company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, WAL traded at $74.57, a market capitalization of $8.1 billion.
At that price the stock trades at 8.4× trailing-twelve-month earnings and 1.4× sales; its P/E is higher than 19% of its own readings over the past ten years.
Western Alliance Bancorporation pays an annual dividend of $1.68 per share, a yield of 2.25%, with a payout ratio of 18.9%.
Return on equity was 13.6% and debt-to-equity 0.90.
Its Piotroski F-score is 4 out of 9 for fiscal 2025.