WAFD

MKT CAP:$3B

WaFd, Inc.

Market Cap

$3B

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$35.14+$3.01 (+9.37%)

Apr 22, 2026

Company Details

WaFd, Inc. engages in the provision of lending, depository, insurance, and other banking services to consumers. It also offers banking services to mid-sized to large businesses, and owners and developers of commercial real estate. The compa...

CEO

Brent J. Beardall

IPO Date

Nov 9, 1982

Website

www.wafdbank.com

Key Metrics TTM

Revenue

$1.4B

-8.8% YoY

Net Income

$252M

EPS (Diluted)

$3.11

Free Cash Flow

$215M

Revenue / Share

$18.29

Gross Margin

54.4%

Operating Margin

23.4%

Net Margin

18.3%

FCF Margin

15.6%

P/S

1.9x

P/E

10.6x

Earnings Reports

Q2 2026

Apr 17, 2026

NEW

$345M-2.8%EPS $0.87

Q1 2026

Feb 4, 2026

$343M-5.1%EPS $0.79

FY 2025

Nov 18, 2025

$1.4B-1.6%EPS $2.63

Q4 2025

Nov 18, 2025

$344M-11.7%EPS $0.72

Q3 2025

Aug 5, 2025

$350M-14.4%EPS $0.73

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$185M	$168M	$81M
Q4 22	$212M	$186M	$93M
Q1 23	$247M	$194M	$102M
Q2 23	$265M	$181M	$85M
Q3 23	$287M	$174M	$79M
Q4 23	$296M	$151M	$59M
Q1 24	$303M	$168M	$72M
Q2 24	$331M	$155M	$21M
Q3 24	$409M	$193M	$83M
Q4 24	$390M	$189M	$81M
Q1 25	$361M	$172M	$60M
Q2 25	$355M	$177M	$72M
Q3 25	$350M	$184M	$80M
Q4 25	$344M	$185M	$78M
Q1 26	$343M	$188M	$82M
Q2 26	$345M	$194M	$84M

Valuation

Quarter	P/S	P/E
Q3 22	2.9x	9.3x
Q4 22	2.7x	8.5x
Q1 23	2.7x	8.3x
Q2 23	2.1x	6.9x
Q3 23	1.7x	6.3x
Q4 23	1.5x	6.4x
Q1 24	1.9x	9.3x
Q2 24	1.9x	12.4x
Q3 24	1.6x	11.1x
Q4 24	2.0x	14.2x
Q1 25	1.8x	14.0x
Q2 25	1.5x	10.1x
Q3 25	1.6x	10.5x
Q4 25	1.7x	10.8x
Q1 26	1.9x	10.6x
Q2 26	1.7x	9.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$56M	$53M
Q3 22	$88M	$85M
Q4 22	$97M	$94M
Q1 23	$66M	$64M
Q2 23	$45M	$42M
Q3 23	$20M	$14M
Q4 23	$83M	$79M
Q1 24	$110M	$102M
Q2 24	$169M	$165M
Q3 24	$63M	$58M
Q4 24	$97M	$89M
Q1 25	$49M	$43M
Q2 25	$72M	$67M
Q3 25	$58M	$53M
Q4 25	$57M	$46M
Q1 26	$60M	$50M

Capital Expenditures

Quarter	CapEx
Q2 22	$3M
Q3 22	$3M
Q4 22	$3M
Q1 23	$2M
Q2 23	$3M
Q3 23	$6M
Q4 23	$4M
Q1 24	$8M
Q2 24	$4M
Q3 24	$5M
Q4 24	$7M
Q1 25	$6M
Q2 25	$6M
Q3 25	$5M
Q4 25	$12M
Q1 26	$10M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+15.4%	+3.8%
Q4 22	+25.0%	+15.7%
Q1 23	+45.8%	+36.6%
Q2 23	+59.2%	+74.3%
Q3 23	+55.0%	+98.9%
Q4 23	+39.6%	+99.0%
Q1 24	+22.4%	+59.0%
Q2 24	+24.8%	+71.5%
Q3 24	+42.5%	+57.3%
Q4 24	+31.8%	+30.6%
Q1 25	+19.3%	+30.2%
Q2 25	+7.2%	-8.8%
Q3 25	-14.4%	-17.2%
Q4 25	-11.7%	-13.8%
Q1 26	-5.1%	-13.4%
Q2 26	-2.8%	-7.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$2M	1.5%
Q3 22	$1M	0.8%
Q4 22	$1M	0.7%
Q1 23	$2M	0.6%
Q2 23	$2M	0.9%
Q3 23	$2M	0.7%
Q4 23	$2M	0.7%
Q1 24	$2M	0.8%
Q2 24	$3M	0.9%
Q3 24	$2M	0.6%
Q4 24	$2M	0.4%
Q1 25	$2M	0.5%
Q2 25	$3M	0.7%
Q3 25	$2M	0.6%
Q4 25	$2M	0.6%
Q1 26	$2M	0.6%

OpEx Breakdown

Quarter	G&A	S&M
Q3 22	$50M	—
Q4 22	$54M	—
Q1 23	$53M	—
Q2 23	$55M	—
Q3 23	$56M	—
Q4 23	$53M	—
Q1 24	$56M	—
Q2 24	$81M	—
Q3 24	$65M	—
Q4 24	$61M	—
Q1 25	$65M	—
Q2 25	$59M	—
Q3 25	$104M	—
Q4 25	$16M	$67M
Q1 26	$65M	—
Q2 26	$69M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$607M	$2.2B	$2.8B
Q4 22	$684M	$2.1B	$2.7B
Q1 23	$646M	$2.1B	$2.7B
Q2 23	$1.1B	$2.0B	$3.1B
Q3 23	$1.1B	$2.0B	$3.2B
Q4 23	$981M	$2.0B	$3.0B
Q1 24	$1.1B	$2.0B	$3.2B
Q2 24	$1.5B	$2.4B	$3.9B
Q3 24	$2.5B	$2.4B	$4.9B
Q4 24	$2.4B	$2.6B	$5.0B
Q1 25	$1.5B	$2.7B	$4.3B
Q2 25	$1.2B	$2.1B	$3.4B
Q3 25	$809M	$3.4B	$4.2B
Q4 25	$657M	$2.6B	$3.3B
Q1 26	$735M	$3.2B	$4.0B
Q2 26	$670M	$0	$670M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	65M	-0.1%	-9.0%
Q4 22	65M	+0.0%	-2.7%
Q1 23	65M	+0.0%	+0.1%
Q2 23	66M	+0.2%	+0.2%
Q3 23	65M	-0.5%	-0.3%
Q4 23	65M	-0.7%	-1.1%
Q1 24	64M	-0.7%	-1.7%
Q2 24	70M	+9.1%	+7.0%
Q3 24	81M	+16.0%	+24.8%
Q4 24	81M	-0.0%	+25.7%
Q1 25	81M	+0.1%	+26.6%
Q2 25	81M	-0.4%	+15.6%
Q3 25	80M	-1.5%	-1.8%
Q4 25	79M	-1.7%	-3.4%
Q1 26	77M	-2.0%	-5.4%
Q2 26	76M	-1.9%	-6.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$88.9K	2K
Q4 22	$99.4K	2K
Q1 23	$116.0K	2K
Q2 23	$124.4K	2K
Q3 23	$134.6K	2K
Q4 23	$139.5K	2K
Q1 24	$142.8K	2K
Q2 24	$156.1K	2K
Q3 24	$193.0K	2K
Q4 24	$176.5K	2K
Q1 25	$163.6K	2K
Q2 25	$160.6K	2K
Q3 25	$158.5K	2K
Q4 25	$169.0K	2K
Q1 26	$168.3K	2K
Q2 26	$169.3K	2K

Revenue / Employee