Pricing Log in Create free account
Saturday 7 November 2026 Export WD’s income statement to Excel — free account

Walker & Dunlop, Inc.

WD Financial Mortgage Finance

Walker & Dunlop, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.2 billion, up 8.99% from fiscal 2024.

Revenue
−11.6%
EPS
−213.0%
Free cash flow
+175.6%
Total debt
−47.9%

Quarter to September 2026, against a year earlier

39.05 0.78 −1.96%
Market cap
$1.4B
P/E
0.0×
Fwd P/E
35.2×
Dividend yield
7.01%
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 0.79
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 4 — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.03%

Capital & Financial Ratios $m

Size
Market Cap 1,370.00
Revenue ttm 1,246.49
Net income ttm (29.21)
Free cash flow ttm 1,538.06
Net debt Q 1,121.65
Valuation
P/E 0.00
Forward P/E 35.20 (above 35: high)
Price / sales 1.03
Forward P/S Powerpack
Price / FCF 0.84
Price / book 0.77
Financial health
Current ratio Q 0.00
Debt / equity Q 0.94
Interest coverage Q (2.08)
Growth
Revenue growth Q −11.62% (below 0%: shrinking)
Operating income growth Q −202.69% (below 0%: shrinking)
EPS, this year +158.54% (at or above 15%: strong)
EPS, next year A +17.57% (at or above 15%: strong)
Revenue, next year A +0.62%
EPS, past 5 yrs −26.59% (below 0%: weak)
EPS, next 5 yrs A +49.23% (at or above 15%: strong)

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

Valuation vs history

P/S against its own 10 years 1.50%
10-year low 10-year high
P/B against its own 10 years 1.47%
10-year low 10-year high

Dividends raised 2 years running

Yield
7.01%
Annual rate
2.71
Payout ratio
242.0%
Growth, 2018–25
+15.1%/yr
  1. 1.00 ’18
  2. 1.20 ’19 +20
  3. 1.44 ’20 +20
  4. 2.00 ’21 +39
  5. 3.00 ’22 +50
  6. 2.52 ’23 −16
  7. 2.60 ’24 +3
  8. 2.68 ’25 +3
  9. 2.72 ’26e +1
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 534 511 547 445
Receivables 829 1,117 1,856 1,154
Inventory — — — —
Other — — — —
1,363 1,628 2,403 1,600
2017 2018 2019 2020
Payables 130 — — —
ST’ Debt — — — —
Other 6 20 8 14
137 20 8 14

Compound Annual Growth %

10y 5y 3y
Sales 10.18% 2.64% (0.65%)
Cash Flow 0.00% 0.00% 0.00%
Earnings (3.95%) (25.48%) (35.83%)
Book Value 13.50% 7.87% 0.58%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY25 Estimate 1.21 Actual 1.22

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY24 1.29 1.19 Miss by 0.10
Q4 FY24 1.52 1.34 Miss by 0.18
Q2 FY25 1.29 1.15 Miss by 0.14
Q3 FY25 1.21 1.22 Beat by 0.01

EPS $

Mar Jun Sep Dec Year
’26 0.46 0.09 (1.11) — —
’25 0.08 0.99 0.98 (0.41) 1.64
’24 0.35 0.67 0.85 1.32 3.19
’23 0.79 0.82 0.64 0.93 3.18
’22 2.12 1.61 1.40 1.24 6.36
’21 1.79 1.73 2.21 2.42 8.15
’20 1.49 1.95 1.66 2.59 7.69
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 301 307 298 — —
’25 237 319 338 340 1,234
’24 228 271 292 341 1,132
’23 239 273 269 274 1,054
’22 319 341 316 283 1,259
’21 224 281 346 407 1,259
’20 234 253 247 350 1,084
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,144) 1,169 — — —
’25 (281) (238) (948) 803 (664)
’24 38 (238) (202) 531 129
’23 (547) (334) 549 332 (1)
’22 972 (118) (1,321) 2,049 1,583
’21 1,316 (556) (956) 1,067 870
’20 (293) (530) (1,474) 885 (1,411)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1,146) 1,169 719 — —
’25 (285) (241) (950) 796 (680)
’24 35 (242) (204) 527 116
’23 (549) (341) 544 330 (17)
’22 960 (118) (1,328) 2,047 1,561
’21 1,314 (558) (958) 1,064 861
’20 (293) (531) (1,475) 885 (1,414)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 575 712 725 817 1,084 1,259 1,259 1,054 1,132 1,234 1,246 +8.9% 1,242 1,360 1,487 +6.4%
Gross margin, % 60.46 59.36 59.01 57.64 56.74 52.07 51.75 51.23 50.62 47.52 46.45 (12.9) pt
EBT 186 234 213 230 330 352 265 138 132 79 (38) (9.1%)
EBT margin, % 32.29 32.82 29.35 28.19 30.48 27.96 21.05 13.11 11.61 6.40 (3.03) (25.9) pt
Net income 114 212 161 173 246 266 209 103 101 57 (29) (7.4%)
Per share, $
Per share, $ Revenue 19.33 23.59 24.01 27.32 35.60 40.51 38.94 32.25 34.20 37.01 37.45 +7.5%
Earnings 3.87 7.03 5.35 5.61 7.85 8.27 6.43 3.20 3.19 1.65 (0.97) (9.0%)
Cash flow 25.51 35.38 2.12 14.29 (46.36) 28.01 48.96 (0.02) 3.91 (19.92) 46.66 n/m
Capex (1.53) (0.43) (0.22) (0.16) (0.10) (0.30) (0.68) (0.50) (0.39) (0.47) (0.45) (12.2%)
Free cash flow 23.98 34.95 1.91 14.14 (46.46) 27.71 48.28 (0.51) 3.51 (20.39) 46.21 n/m
Book value 20.66 27.01 30.04 34.84 39.29 50.78 53.11 53.40 53.14 52.39 50.03 +10.9%
Shares, m 30 30 30 30 30 31 32 33 33 33 33 +1.3%
Valuation, ×
Valuation, × P/E 8.15 6.72 8.08 11.55 11.75 18.27 12.41 33.89 30.47 36.45 0.00 17.8
P/S 1.63 2.01 1.80 2.37 2.59 3.72 2.05 3.36 2.84 1.63 1.03 2.4
P/B 1.53 1.75 1.44 1.86 2.34 2.97 1.50 2.03 1.83 1.15 0.77 1.8
EV/Sales 5.01 3.14 3.50 3.53 4.74 5.46 2.72 4.16 3.76 3.00 — 3.9
EV/FCF 3.80 2.12 50.97 6.98 (3.60) 8.07 2.21 (166.50) 39.86 (5.38) — (6.1)
Cash, $m
Cash, $m Operating cash flow 759 1,068 64 428 (1,411) 870 1,583 (1) 129 (664) 1,553 n/m
Capex (46) (13) (7) (5) (3) (9) (22) (16) (13) (16) (15) (11.1%)
Free cash flow 714 1,055 58 423 (1,414) 861 1,561 (17) 116 (680) 1,538 n/m
Balance, $m
Balance, $m Working capital 1,998 1,152 1,332 1,082 2,978 2,521 1,000 1,363 1,628 2,403 1,600 +2.1%
Net debt 1,941 806 1,230 949 2,331 2,184 841 835 1,038 1,702 1,122 (1.4%)
Shareholders’ equity 615 815 907 1,042 1,196 1,578 1,717 1,746 1,760 1,747 1,665 +12.3%
Returns, %
Returns, % ROA 3.32 7.71 6.24 6.15 6.52 5.21 4.49 2.58 2.51 1.16 (0.66) (2.2) pt
ROIC 4.54 9.01 6.22 7.23 5.85 5.85 6.48 3.35 2.94 1.43 (0.85) (3.1) pt
ROE 19.67 28.35 18.08 17.21 21.34 18.52 12.61 6.04 6.03 3.13 (1.94) (16.5) pt
People
People Employees 550 623 723 823 988 1,305 1,451 1,326 1,399 1,466 — +11.5%
Revenue/emp, $m 1.05 1.14 1.00 0.99 1.10 0.96 0.87 0.80 0.81 0.84 — (2.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

Walker & Dunlop, Inc. vs peers in Mortgage Finance (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
PFSI PennyMac Financial Services, Inc. $3.5B 14.2× 15.8× −25.93% (below 0%: shrinking) −84.29% (below 0%: shrinking) +218.40% (above 0%: growing) 76.86% 14.29% Compare
UWMC UWM Holdings Corporation $2.6B — (loss-making) — (loss-making) −81.06% (below 0%: shrinking) n/m +64.57% (above 0%: growing) 24.81% (192.94%) Compare
WD Walker & Dunlop, Inc. $1.4B — (loss-making) 35.2× −11.62% (below 0%: shrinking) n/m +175.64% (above 0%: growing) 44.82% (10.67%)
VEL Velocity Financial, Inc. $689.0M 6.3× 12.1× +34.05% (above 0%: growing) +3.03% (above 0%: growing) −152.77% (below 0%: shrinking) 0.00% 0.00% Compare
BETR Better Home & Finance Holding Company $360.6M — (loss-making) — (loss-making) +25.81% (above 0%: growing) n/m +136.12% (above 0%: growing) 89.80% 0.00% Compare
ONIT Onity Group Inc. $269.2M 2.0× 13.2× −0.78% (below 0%: shrinking) −80.82% (below 0%: shrinking) +306.19% (above 0%: growing) 100.00% 0.00% Compare
LDI loanDepot, Inc. $211.5M — (loss-making) — (loss-making) +19.39% (above 0%: growing) n/m +589.11% (above 0%: growing) 87.77% 10.45% Compare
GHI Greystone Housing Impact Investors LP $103.1M — (loss-making) 3.2× −7.10% (below 0%: shrinking) n/m −92.85% (below 0%: shrinking) 93.66% 60.90% Compare
IOR Income Opportunity Realty Investors, Inc. $72.7M 20.1× 13.8× +534.29% (above 0%: growing) −29.17% (below 0%: shrinking) +155.56% (above 0%: growing) 0.00% 0.00% Compare
Median of peers $314.9M 10.2× 13.2× +9.31% −54.99% +145.84% 82.32% 0.00%

All 13 Mortgage Finance stocks →

Pay and ownership Proxy statement filed 1 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 15.50m 4.25m 74.68
2024 7.58m 8.60m 116.46
2023 4.82m 4.68m 129.65
2022 4.78m (7.71m) 88.85
2021 7.56m 19.98m 167.00

Ownership

Directors and executive officers, together 4.02%
BlackRock, Inc. 14.63%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Walker & Dunlop, Inc. (WD) Latest News

7 Nov

Impact 3 · · Simply Wall St.

6 Nov

Impact 3 · · GuruFocus.com

5 Nov

Impact 4 · · The Motley Fool transcript
Impact 3 · · bisnow.com
Impact 3 · · Simply Wall St.
Impact 3 · · StockStory
Impact 3 · · Business Wire

29 Oct

Impact 3 · · Business Wire

22 Oct

Impact 3 · · PR Newswire

21 Oct

Impact 4 · · Business Wire

20 Oct

Impact 4 · · Business Wire

15 Oct

Impact 3 · · PR Newswire

14 Oct

Impact 3 · · Business Wire
Impact 3 · · credaily.com
Impact 3 · · Business Wire
Impact 3 · · Business Wire

13 Oct

Impact 3 · · credaily.com

12 Oct

Impact 3 · · Business Wire

9 Oct

Impact 3 · · StockStory

8 Oct

Impact 4 · · Simply Wall St.

7 Oct

Impact 3 · · MarketBeat
Impact 3 · · StockStory
Impact 3 · · Business Wire

5 Oct

Impact 4 · · Business Wire

30 Sep

Impact 3 · · Business Wire
Impact 3 · · StockStory

28 Sep

Impact 3 · · Business Wire
Impact 3 · · Business Wire

25 Sep

Impact 3 · · StockStory

23 Sep

Impact 4 ·
stockrow.com/WD · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com