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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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
19.65 | 18.29 | 9.52 | 11.75 | 11.87 | 12.39 | 6.01 | 9.89 | 11.75 | 9.58 |
Piotroski F-Score |
7 | 5 | 7 | 6 | 5 | 5 | 5 | 2 | 4 | 4 |
P/S ratio |
6.84 | 6.65 | 3.84 | 4.54 | 4.51 | 5.36 | 2.08 | 1.62 | 1.78 | 1.70 |
P/FCF ratio |
18.82 | 14.96 | 7.67 | 8.56 | 9.34 | 0.00 | 2.98 | 0.00 | 0.00 | 0.00 |
P/Operating CF |
76.83 | 52.56 | 28.57 | 31.94 | 27.29 | 17.98 | 7.90 | 20.53 | (14.59) | (131.04) |
P/B ratio |
2.69 | 2.66 | 1.58 | 1.94 | 1.76 | 2.37 | 1.24 | 1.21 | 1.41 | 1.20 |
Price to Tangible BV |
3.20 | 3.07 | 1.79 | 2.15 | 1.93 | 2.74 | 1.43 | 1.37 | 1.58 | 1.31 |
EV/Sales |
7.06 | 7.04 | 4.17 | 4.51 | 2.93 | 6.27 | 4.12 | 3.14 | 2.25 | 2.21 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Operating CF |
18.69 | 16.35 | 8.29 | 8.10 | 5.83 | (4.87) | 5.53 | (41.25) | (4.18) | (4.43) |
EV/FCF |
19.43 | 15.84 | 8.32 | 8.50 | 6.07 | (4.75) | 5.90 | (30.60) | (4.05) | (4.25) |
Quick Ratio |
0.02 | 0.02 | 0.03 | 0.02 | 0.08 | 0.01 | 0.02 | 0.03 | 0.06 | 0.05 |
Current Ratio |
0.92 | 0.90 | 0.94 | 0.94 | 0.92 | 0.94 | 1.00 | 0.96 | 0.90 | 0.85 |
Net Debt/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Debt/Assets |
2.60% | 3.77% | 3.68% | 1.47% | 1.56% | 4.28% | 10.62% | 11.47% | 8.00% | 6.81% |
Debt/Equity |
0.24 | 0.34 | 0.33 | 0.13 | 0.17 | 0.48 | 1.34 | 1.34 | 0.97 | 0.79 |
Asset Turnover |
0.05 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.05 | 0.06 | 0.07 | 0.06 |
Operating CF/Net income |
1.08 | 1.18 | 1.24 | 1.44 | 1.32 | (2.96) | 2.15 | (0.46) | (3.54) | (2.80) |
Capex/Depreciation |
(0.60) | 0.41 | (0.08) | (0.75) | (0.44) | (0.95) | (1.65) | 6.65 | 0.84 | (1.31) |
| 14.92% | 15.80% | 18.00% | 17.73% | 15.76% | 22.17% | 21.47% | 13.09% | 12.71% | 13.60% | |
| 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% |
Return on Tangible Assets |
(23.54%) | (21.57%) | (42.56%) | (38.48%) | (21.55%) | (36.47%) | 254.14% | (34.51%) | (12.31%) | (8.38%) |
Average Days of Receivables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
43.57% | 42.23% | 41.53% | 38.56% | 46.28% | 39.49% | 40.60% | 39.06% | 42.70% | 43.49% |
Intangible Assets out of Total Assets |
0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
Share Based Compensation of Revenue |
2.74% | 2.64% | 2.39% | 2.03% | 2.15% | 1.70% | 1.32% | 0.79% | 0.94% | 0.96% |
Graham Net Nets |
(0.38) | (0.46) | (0.59) | (0.41) | (0.60) | (0.55) | (1.37) | (1.69) | (1.60) | (2.13) |
Graham Number |
32.20 | 38.70 | 48.28 | 56.62 | 62.22 | 94.27 | 101.66 | 88.64 | 97.19 | 117.86 |
Earnings Yield |
5.09% | 5.47% | 10.51% | 8.51% | 8.42% | 8.07% | 16.63% | 10.11% | 8.51% | 10.44% |
Free Cash Flow Yield |
5.31% | 6.69% | 13.04% | 11.68% | 10.71% | (24.63%) | 33.54% | (6.32%) | (31.15%) | (30.54%) |
Revenue per Share |
7.21 | 8.55 | 10.28 | 12.56 | 13.30 | 20.09 | 28.14 | 39.85 | 46.82 | 49.37 |
Operating CF per Share |
2.72 | 3.68 | 5.17 | 6.99 | 6.69 | (25.84) | 20.95 | (3.03) | (25.25) | (24.62) |
Capex per Share |
(0.10) | 0.12 | (0.02) | (0.33) | (0.27) | (0.68) | (1.32) | (1.06) | (0.77) | (1.05) |
Free Cash Flow per Share |
2.62 | 3.80 | 5.15 | 6.66 | 6.42 | (26.52) | 19.63 | (4.09) | (26.02) | (25.67) |
Cash per Share |
2.76 | 4.00 | 4.76 | 4.23 | 26.66 | 5.02 | 9.73 | 14.55 | 37.72 | 33.05 |
Shareholders Equity per Share |
18.36 | 21.40 | 24.96 | 29.37 | 34.07 | 48.33 | 49.96 | 56.12 | 61.76 | 73.03 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
18.36 | 21.40 | 24.96 | 29.37 | 34.07 | 48.33 | 49.96 | 56.12 | 61.76 | 73.03 |
Free Cash Flow |
270.07 | 396.14 | 539.10 | 684.00 | 643.40 | (2,723.40) | 2,104.30 | (442.90) | (2,825.80) | (2,793.20) |
Working Capital |
(1,223.37) | (1,627.90) | (1,143.37) | (1,423.10) | (2,484.70) | (2,638.00) | 135.00 | (2,395.00) | (6,657.00) | (11,849.00) |
Capital Expenditures |
(10.57) | 12.33 | (1.90) | (33.80) | (26.80) | (69.40) | (141.00) | (114.30) | (83.80) | (114.30) |
Net Current Asset Value |
(1,941.09) | (2,728.74) | (2,439.26) | (2,415.10) | (3,601.70) | (6,046.00) | (8,599.00) | (11,846.00) | (14,543.00) | (19,518.00) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.01 | (0.01) | 0.00 | 0.03 | 0.02 | 0.03 | 0.05 | 0.03 | 0.02 | 0.02 |
Price to Operating Income |
13.61 | 13.12 | 8.10 | 9.73 | 9.78 | 9.71 | 4.77 | 7.50 | 9.15 | 7.58 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.15 | 0.25 | 0.20 | 0.36 | 0.45 | 0.40 | 0.31 | (0.05) | (0.27) | 0.20 |
Cash ROIC |
10.29% | 11.61% | 13.60% | 17.79% | 9.67% | (34.57%) | 15.48% | (2.81%) | (16.36%) | (15.64%) |
Accounts Receivable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.03 | 0.03 | 0.03 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
122,668.77 | 101,808.96 | 59,521.85 | 45,074.34 | 122,809.62 | 158,129.03 | 41,177.83 | 11,905.53 | 12,597.27 | 15,405.63 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Payables |
13,290.24 | 15,761.20 | 18,074.99 | 20,986.98 | 27,363.50 | 39,771.25 | 50,628.00 | 54,488.50 | 60,837.00 | 71,750.00 |
Average Assets |
15,737.97 | 18,764.97 | 21,719.29 | 24,965.70 | 31,641.45 | 46,222.00 | 61,858.50 | 69,298.00 | 75,898.00 | 86,854.00 |
Average Common Equity |
1,741.52 | 2,060.61 | 2,421.72 | 2,815.22 | 3,215.10 | 4,040.75 | 4,864.50 | 5,422.00 | 6,097.50 | 7,031.50 |
Columns are period end dates