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Western Alliance Bancorporation

WAL Financial Banks Regional

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%
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% (at or above 15%: strong)
Next Y revenue growth (25.77%) (below 0%: weak)
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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Western Alliance Bancorporation 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
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.

Source: company filings (standardised) and stockrow calculations.

Western Alliance Bancorporation (WAL) Latest News

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