Pricing Log in Create free account
Friday 6 November 2026 Export WTBA’s income statement to Excel — free account

West Bancorporation, Inc.

WTBA Financial Banks Regional

West Bancorporation, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $198.5 million, roughly unchanged from fiscal 2024.

Revenue
+1.00%
EPS
+24.0%
Free cash flow
+44.7%
Total debt
−19.6%

Quarter to September 2026, against a year earlier

30.61 0.10 −0.33%
Market cap
$523.4M
P/E
12.9×
Fwd P/E
11.5×
Dividend yield
2.46%
F-score
7/9
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

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 12.05%

Capital & Financial Ratios $m

Size
Market Cap 523.41
Revenue ttm 201.27
Net income ttm 40.70
Free cash flow ttm 53.40
Net debt Q 40.43
Valuation
P/E 12.91
Forward P/E 11.50
Price / sales 2.62
Forward P/S Powerpack
Price / FCF 9.86
Price / book 1.94
Financial health
Current ratio Q 0.98
Debt / equity Q 1.15
Interest coverage Q —
Growth
Revenue growth Q +1.00% (above 0%: growing)
Operating income growth Q +32.30% (above 0%: growing)
EPS, this year +35.68% (at or above 15%: strong)
EPS, next year A +7.68%
Revenue, next year A −42.92% (below 0%: weak)
EPS, past 5 yrs −0.61% (below 0%: weak)
EPS, next 5 yrs A +15.20% (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/E against its own 10 years 59.85%
10-year low 10-year high
P/S against its own 10 years 38.06%
10-year low 10-year high
P/B against its own 10 years 71.32%
10-year low 10-year high

Dividends

Yield
2.46%
Annual rate
0.76
Payout ratio
32.3%
Growth, 2017–25
+4.37%/yr
  1. 0.71 ’17
  2. 0.78 ’18 +10
  3. 0.83 ’19 +6
  4. 0.84 ’20 +1
  5. 0.94 ’21 +12
  6. 1.00 ’22 +6
  7. 1.00 ’23 +0
  8. 1.00 ’24 +0
  9. 1.00 ’25 +0
  10. 1.02 ’26e +2
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 65 243 471 272
Receivables — — — —
Inventory — — — —
Other — — — —
2,978 3,231 3,454 3,249
2023 2024 2025 Q'26
Payables 2,974 3,358 3,468 3,271
ST’ Debt — — — —
Other — — — —
3,158 3,394 3,500 3,307

Compound Annual Growth %

10y 5y 3y
Sales 11.25% 12.56% 14.12%
Cash Flow 4.07% 1.91% (7.87%)
Earnings 4.12% (0.09%) (11.14%)
Book Value 5.73% 3.52% 8.01%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.67 Actual 0.67

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.57 0.61 Beat by 0.04
Q1 FY26 0.59 0.61 Beat by 0.02
Q2 FY26 0.63 0.64 Beat by 0.01
Q3 FY26 0.67 0.67 Met by 0.00
Q4 FY26 0.65 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.61 0.64 0.67 — —
’25 0.46 0.47 0.55 0.43 1.92
’24 0.35 0.31 0.35 0.42 1.42
’23 0.47 0.35 0.35 0.27 1.44
’22 0.78 0.75 0.69 0.53 2.76
’21 0.70 0.79 0.76 0.71 2.95
’20 0.49 0.48 0.49 0.52 1.98
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 50 51 52 — —
’25 48 50 51 48 198
’24 47 50 51 51 199
’23 40 42 44 45 170
’22 30 31 35 37 134
’21 29 28 30 30 117
’20 28 26 28 28 110
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 13 14 16 — —
’25 10 14 11 12 46
’24 6 10 13 11 40
’23 2 8 8 7 25
’22 16 18 15 11 59
’21 15 13 14 15 58
’20 10 13 8 11 42
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 12 14 16 — —
’25 8 13 11 11 43
’24 (4) 3 7 8 14
’23 (5) 0 (2) (4) (11)
’22 9 17 12 1 38
’21 14 11 11 13 49
’20 10 13 7 10 40
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
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 73 82 93 107 110 117 134 170 199 198 201 +11.8% 113 124 113 (17.0%)
Gross margin, % 89.21 84.11 75.43 69.86 84.16 89.56 76.33 46.43 40.20 47.99 53.40 (41.2) pt
EBT 33 36 35 36 41 63 59 30 27 41 53 +2.6%
EBT margin, % 45.15 44.61 37.89 33.41 37.68 53.76 44.47 17.48 13.83 20.87 26.12 (24.3) pt
Net income 23 23 29 29 33 50 46 24 24 33 41 +3.9%
Per share, $
Per share, $ Revenue 4.53 5.04 5.69 6.54 6.68 7.08 8.04 10.20 11.81 11.73 11.81 +11.2%
Earnings 1.42 1.41 1.76 1.74 1.98 2.95 2.79 1.44 1.43 1.92 2.39 +3.4%
Cash flow 1.88 1.81 2.13 2.26 2.57 3.50 3.58 1.51 2.37 2.75 3.21 +4.3%
Capex (0.79) (0.07) (0.01) (0.03) (0.14) (0.53) (1.28) (2.18) (1.56) (0.20) (0.08) (14.4%)
Free cash flow 1.09 1.75 2.12 2.23 2.43 2.97 2.29 (0.67) 0.81 2.55 3.13 +10.0%
Book value 10.26 11.00 11.74 12.95 13.60 15.75 12.70 13.47 13.56 15.72 15.94 +4.9%
Shares, m 16 16 16 16 16 17 17 17 17 17 17 +0.5%
Valuation, ×
Valuation, × P/E 17.15 17.45 10.85 14.65 9.75 10.36 9.11 14.76 15.14 11.50 12.91 13.1
P/S 5.38 4.95 3.36 3.92 2.89 4.39 3.17 2.08 1.83 1.89 2.62 3.4
P/B 2.37 2.27 1.63 1.98 1.42 1.97 2.01 1.58 1.60 1.41 1.94 1.8
EV/Sales 6.04 5.83 4.85 5.50 1.26 4.43 5.11 4.30 2.58 1.41 — 4.1
EV/FCF 25.21 16.81 12.99 16.12 3.45 10.54 17.92 (65.72) 37.52 6.50 — 8.1
Cash, $m
Cash, $m Operating cash flow 30 29 35 37 42 58 59 25 40 46 55 +4.9%
Capex (13) (1) 0 0 (2) (9) (21) (36) (26) (3) (1) (13.9%)
Free cash flow 17 28 35 37 40 49 38 (11) 14 43 53 +10.6%
Balance, $m
Balance, $m Working capital (98) (267) (160) (54) (86) (413) (360) (180) (164) (46) (58) (8.1%)
Net debt 49 72 138 169 (179) 4 259 377 149 (95) 40 n/m
Shareholders’ equity 165 178 191 212 224 260 211 225 228 266 272 +5.4%
Returns, %
Returns, % ROA 1.28 1.16 1.29 1.20 1.16 1.48 1.30 0.65 0.61 0.80 1.03 (0.5) pt
ROIC 9.63 9.11 6.73 5.86 58.42 14.87 7.89 3.09 4.55 15.11 10.53 +5.5 pt
ROE 14.49 13.43 15.45 14.24 15.02 20.50 19.68 11.07 10.62 13.19 15.45 (1.3) pt
People
People Employees 165 162 163 171 175 181 182 190 189 — — +1.7%
Revenue/emp, $m 0.44 0.50 0.57 0.63 0.63 0.65 0.73 0.90 1.05 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

West Bancorporation, Inc. 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
NPB Northpointe Bancshares, Inc. $549.2M 6.8× 7.9× +11.60% (above 0%: growing) +17.31% (above 0%: growing) +105.45% (above 0%: growing) 49.88% 0.00% Compare
BSRR Sierra Bancorp $544.1M 10.8× 10.9× −2.62% (below 0%: shrinking) +63.01% (above 0%: growing) +41.03% (above 0%: growing) 79.16% 0.00% Compare
OBT Orange County Bancorp, Inc. $534.6M 11.2× 10.5× −16.27% (below 0%: shrinking) +17.24% (above 0%: growing) +491.65% (above 0%: growing) 81.95% 0.00% Compare
PDLB Ponce Financial Group, Inc. $528.0M 11.3× 2.1× +20.72% (above 0%: growing) +188.89% (above 0%: growing) +1,603.44% (above 0%: growing) 59.70% 0.00% Compare
NRIM Northrim BanCorp Inc $524.3M 9.4× 9.5× −9.44% (below 0%: shrinking) −47.97% (below 0%: shrinking) −115.99% (below 0%: shrinking) 85.30% 0.00% Compare
WTBA West Bancorporation, Inc. $523.4M 12.9× 11.5× +1.00% (above 0%: growing) +24.04% (above 0%: growing) +44.69% (above 0%: growing) 56.06% 0.00%
CZNC Citizens & Northern Corp $507.1M 19.2× 12.9× +26.53% (above 0%: growing) +97.50% (above 0%: growing) +90.26% (above 0%: growing) 76.74% 0.00% Compare
FMAO Farmers & Merchants Bancorp Inc. $500.5M 11.6× 11.3× +6.18% (above 0%: growing) +32.48% (above 0%: growing) +35.98% (above 0%: growing) 67.12% 0.00% Compare
FRBA First Bank $493.4M 11.6× 11.5× −3.96% (below 0%: shrinking) +7.32% (above 0%: growing) −48.72% (below 0%: shrinking) 62.19% 0.00% Compare
Median of peers $526.2M 11.3× 10.7× +1.78% +24.90% +65.65% 71.93% 0.00%

All 327 Banks Regional stocks →

Pay and ownership Proxy statement filed 3 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 1.46m 1.51m 144.77
2024 1.25m 1.31m 105.98
2023 1.30m 1.13m 98.38
2022 1.26m 1.06m 112.28
2021 1.02m 1.62m 131.21

Ownership

Directors and executive officers, together 4.61%
FMR LLC245 Summer StreetBoston, MA 8.17%
BlackRock, Inc. 7.24%
The Jay Newlin Trust2661 6.15%
The Vanguard Group100 Vanguard Blvd. Malvern, PA 5.17%
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

West Bancorporation, Inc. (WTBA) Latest News

29 Oct

Impact 4 · · MarketBeat transcript
Impact 4 · · Zacks

23 Apr

Impact 4 · · MarketBeat

3 Feb

Impact 4 · · Zacks
Impact 4 · · Zacks

2 Feb

Impact 4 · · GuruFocus.com transcript

29 Jan

Impact 4 · · MarketBeat transcript

26 Jan

Impact 4 · · Simply Wall St.

17 Dec

Impact 4 · · Simply Wall St.

29 Nov

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

10 Nov

Impact 4 · · Simply Wall St.

4 Nov

Impact 4 · · GuruFocus.com

28 Oct

Impact 4 · · Zacks

24 Oct

Impact 4 · · Simply Wall St.Simply Wall St.Associated Press FinanceSimply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

23 Oct

Impact 4 · · GlobeNewswire
Impact 4 · · Zacks

3 Oct

Impact 4 · · Simply Wall St.

4 Sep

Impact 4 · · Simply Wall St.

26 Jul

Impact 4 ·

24 Jul

Impact 4 ·

14 Jul

Impact 4 ·

10 Jul

Impact 4 ·
Impact 4 ·

9 Jul

Impact 4 ·

8 Jul

Impact 4 ·

4 Jul

Impact 4 · · Simply Wall St.
Impact 4 ·

26 Jun

Impact 4 ·

18 Jun

Impact 4 ·

2 May

Impact 4 ·
stockrow.com/WTBA · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com