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

Waterstone Financial, Inc.

Waterstone Financial, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $201.3 million, down 0.58% from fiscal 2024. In the quarter to June 2026, revenue grew 1.53%, EPS grew 14.0% and free cash flow grew 124.3%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

19.89 0.02 +0.10%

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Market cap: $357.2M
P/E: 11.5×
Fwd P/E: 11.0×
Dividend yield: 3.32%
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 sells 2.45

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	5	—	—	1	—	—	1	—	—

Insider Ownership 13.05%

Capital & Financial Ratios $m

Market Cap 357.21

Revenue 206.50

Net Income 30.10

Free Cash Flow 42.78

Net Debt (38.20)

Current Ratio 1.01

Debt/Equity 0.00

P/E ratio 11.50

Fwd P/E 11.00

P/S ratio 1.65

P/B ratio 0.97

Past 5Y EPS Growth (14.82%)

This Y EPS Growth —

Next Y EPS Growth —

Next Y revenue growth (15.74%)

Next 5Y EPS Growth —

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

Valuation vs history

P/E against its own 10 years 27.76%

10-year low 10-year high

P/S against its own 10 years 43.16%

10-year low 10-year high

P/B against its own 10 years 39.66%

10-year low 10-year high

Dividends

Payout Ratio 0.38

Annual Dividend Rate 0.66

Annual Dividend Yield 3.32%

	total	individual payouts
2026	0.66	0.15 0.17 0.17 0.17
2025	0.60	0.15 0.15 0.15 0.15
2024	0.60	0.15 0.15 0.15 0.15
2023	0.75	0.20 0.20 0.20 0.15
2022	0.60	0.50 0.20 0.20 0.20
2021	0.80	0.20 0.20 0.50 0.20 0.20
2020	0.48	0.12 0.50 0.12 0.12 0.12 0.30
2019	0.48	0.12 0.50 0.12 0.12 0.12
2018	0.48	0.12 0.50 0.12 0.12 0.12
2017	0.48	0.12 0.12 0.50 0.12 0.12
2016	0.26	0.05 0.05 0.08 0.08

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	36	40	71	38
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	1,847	1,838	1,874	1,856

	2023	2024	2025	Q'26
Payables	1,191	1,360	1,437	1,421
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1,191	1,360	1,437	1,833

Compound Annual Growth %

	10y	5y	3y
Sales	1.92%	(9.00%)	4.62%
Cash Flow	0.00%	0.00%	(51.09%)
Earnings	4.77%	(20.11%)	10.65%
Book Value	(1.14%)	(3.30%)	(1.94%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	49	54	—	—	—
’25	45	53	52	52	201
’24	48	55	52	48	202
’23	40	48	49	44	180
’22	45	48	46	38	176
’21	74	70	70	59	273
’20	51	87	95	90	323

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(1)	10	—	—	—
’25	27	(38)	33	3	24
’24	(10)	(40)	74	23	48
’23	(35)	(40)	48	(1)	(28)
’22	143	(24)	17	71	207
’21	59	18	47	18	142
’20	(38)	(97)	18	23	(94)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(2)	9	—	—	—
’25	26	(39)	32	3	23
’24	(10)	(40)	76	23	49
’23	(31)	(40)	52	(1)	(25)
’22	142	(25)	17	71	206
’21	59	17	47	31	154
’20	(38)	(97)	18	29	(88)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.34	0.49	—	—	—
’25	0.17	0.43	0.45	0.44	1.48
’24	0.16	0.31	0.26	0.28	1.01
’23	0.10	0.20	0.16	0.00	0.46
’22	0.23	0.36	0.25	0.04	0.89
’21	0.89	0.74	0.79	0.53	2.96
’20	0.27	0.85	1.08	1.17	3.30

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	13.30	17.00	15.20	15.55	12.10	18.00	15.70	9.62	10.60	11.61	Analyst estimates 2026–2028 Powerpack
	High	19.30	20.40	18.10	19.48	19.62	22.18	22.74	17.70	16.86	17.26
People
People	Employees	895	927	888	824	812	870	742	698	600	593
	Revenue/emp, $m	0.21	0.21	0.22	0.26	0.40	0.31	0.24	0.26	0.34	0.34
Income, $m
Income, $m	Revenue	190	192	192	210	323	273	176	180	202	201
	Gross margin, %	89.33	91.46	89.83	86.91	92.25	94.74	92.44	72.84	66.91	70.50
	EBT	42	44	40	48	108	92	24	11	24	33
	EBT margin, %	22.09	23.20	20.99	22.60	33.52	33.73	13.92	6.12	11.85	16.61
	Net income	26	26	31	36	81	71	19	9	19	26
	Depreciation	6	5	4	4	(8)	6	4	4	2	3
Per share, $
Per share, $	Revenue	7.03	6.97	7.01	8.09	13.18	11.50	8.03	8.95	10.91	11.29
	Earnings	0.94	0.95	1.12	1.38	3.32	2.98	0.89	0.47	1.01	1.48
	Cash flow	(0.89)	3.90	1.52	(1.55)	(3.83)	5.98	9.44	(1.37)	2.59	1.36
	Capex	(0.04)	(0.06)	(0.09)	(0.12)	0.24	0.49	(0.03)	0.14	0.05	(0.07)
	Free cash flow	(0.93)	3.84	1.42	(1.67)	(3.59)	6.47	9.41	(1.23)	2.64	1.29
	Book value	15.19	15.00	14.61	15.13	16.89	18.23	16.93	17.07	18.28	19.59
	Shares, m	27	27	27	26	24	24	22	20	19	18
Valuation, ×
Valuation, ×	P/E	19.79	18.24	14.96	13.79	5.57	7.34	19.90	30.59	13.31	11.11
	P/S	2.65	2.46	2.39	2.35	1.43	1.90	2.18	1.57	1.23	1.47
	P/B	1.22	1.14	1.15	1.26	1.11	1.20	1.03	0.82	0.74	0.84
	EV/Sales	4.43	4.22	4.21	4.30	2.71	2.27	4.11	4.76	3.24	3.16
	EV/FCF	(33.52)	7.66	21.51	(20.87)	(9.22)	4.39	3.51	(97.87)	12.47	22.21
Cash, $m
Cash, $m	Operating cash flow	(24)	107	42	(40)	(94)	142	207	(28)	48	24
	Capex	(1)	(2)	(3)	(3)	6	12	(1)	3	1	(1)
	Free cash flow	(25)	106	39	(43)	(88)	154	206	(25)	49	23
Balance, $m
Balance, $m	Working capital	485	509	555	602	668	646	471	656	478	437
	Total debt	387	386	435	484	508	477	387	611	447	412
	Net debt	340	338	349	409	413	100	340	575	407	341
	Shareholders’ equity	411	412	400	394	413	433	370	344	339	349
Returns, %
Returns, %	ROA	1.44	1.44	1.65	1.84	3.88	3.22	0.92	0.44	0.85	1.18
	ROIC	3.50	3.70	3.36	3.70	8.18	10.80	2.15	0.75	2.01	3.03
	ROE	6.36	6.31	7.58	9.05	20.12	16.74	4.85	2.62	5.47	7.67

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
MVBF Mvb Financial Corp.	$377.0M	9.6×	12.3×	+33.88% (above 0%: growing)	+493.75% (above 0%: growing)	−42.33% (below 0%: shrinking)	75.80%	0.00%	Compare
NWFL Norwood Financial Corp.	$364.8M	11.7×	10.1×	+28.48% (above 0%: growing)	+28.36% (above 0%: growing)	+65.58% (above 0%: growing)	68.32%	0.00%	Compare
WSBF Waterstone Financial, Inc.	$357.2M	11.5×	11.0×	+1.53% (above 0%: growing)	+13.95% (above 0%: growing)	+124.33% (above 0%: growing)	74.78%	0.00%
TSBK Timberland Bancorp, Inc.	$352.9M	11.4×	—	+4.36% (above 0%: growing)	+10.00% (above 0%: growing)	−24.92% (below 0%: shrinking)	73.48%	0.00%	Compare
FSBW FS Bancorp, Inc.	$350.9M	10.1×	9.4×	+3.60% (above 0%: growing)	+6.00% (above 0%: growing)	+778.44% (above 0%: growing)	69.52%	0.00%	Compare
BRBS Blue Ridge Bankshares, Inc.	$349.1M	37.9×	—	−19.39% (below 0%: shrinking)	n/m	−84.87% (below 0%: shrinking)	59.82%	0.00%	Compare
BCML Bay Commercial Bank	$338.1M	26.0×	13.8×	−3.52% (below 0%: shrinking)	n/m	−19.47% (below 0%: shrinking)	74.74%	0.00%	Compare
AVBH Avidbank Holdings Inc.	$337.8M	— (loss-making)	9.1×	+15.59% (above 0%: growing)	−6.49% (below 0%: shrinking)	+148.71% (above 0%: growing)	69.18%	0.00%	Compare
FDBC Fidelity D&D Bancorp Inc.	$336.0M	11.0×	22.8×	+5.91% (above 0%: growing)	+11.67% (above 0%: growing)	+157.33% (above 0%: growing)	70.54%	0.00%	Compare
Median of peers	$350.0M	11.4×	11.2×	+5.14%	+10.84%	+23.06%	70.03%	0.00%

All 323 Banks Regional stocks →

Waterstone Financial, Inc. (WSBF) key facts

Concern: Waterstone Financial, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $201.3 million, down 0.58% from fiscal 2024.
Strength: Net income was $26.4 million, or $1.48 per share (basic), a net margin of 13.1%.
Waterstone Financial, Inc. (WSBF) is a Banks Regional company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, WSBF traded at $19.89, a market capitalization of $357.2 million.
At that price the stock trades at 11.5× trailing-twelve-month earnings and 1.6× sales; its P/E is higher than 28% of its own readings over the past ten years.
Waterstone Financial, Inc. pays an annual dividend of $0.66 per share, a yield of 3.32%, with a payout ratio of 38.4%.
Return on equity was 7.67% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.