WAFD FY 2022 Earnings Report — WaFd, Inc. Revenue & Financial Results | Market Cap Arena

FY 2022 Earnings

Reported November 18, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$733M	—	$653M	—	12.4%
Op. Income	$300M	—	$233M	—	28.7%
Gross Margin	89.8%	—	86.7%	—	3.1pp
Net Margin	32.2%	—	28.1%	—	4.1pp
EPS (Diluted)	$3.39	—	$2.39	—	41.8%
Free Cash Flow	$257M	—	$285M	—	-9.9%

Revenue Flow

Item	Amount
REVENUE	$733M
Cost of Revenue	$75M
GROSS PROFIT	$659M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$203M
SG&A Expenses	$203M
Other Expenses	$155M
Operating Expenses	$359M
Cost & Expenses	$433M
OPERATING INCOME	$300M
Interest Income	$666M
Interest Expense	$72M
Other Income/Expenses	$0
INCOME BEFORE TAX	$300M
Income Tax Expense	$64M
Net Income from Continuing Ops	$236M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$236M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$222M
D&A	$64M
EBIT	$300M
EBITDA	$364M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$733M
Cost of Revenue	$75M
GROSS PROFIT	$659M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$203M
SG&A Expenses	$203M
Other Expenses	$155M
Operating Expenses	$359M
Cost & Expenses	$433M
OPERATING INCOME	$300M
Interest Income	$666M
Interest Expense	$72M
Other Income/Expenses	$0
INCOME BEFORE TAX	$300M
Income Tax Expense	$64M
Net Income from Continuing Ops	$236M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$236M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$222M
D&A	$64M
EBIT	$300M
EBITDA	$364M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$236M
Depreciation & Amortization	$64M
Stock-Based Compensation	$7M
Deferred Income Tax	$0
Other Non-Cash Items	$2M
Change in Working Capital	-$41M
OPERATING CASH FLOW	$268M
Capital Expenditure	-$12M
Acquisitions (Net)	$0
Purchases of Investments	-$783M
Sales/Maturities of Investments	$611M
Other Investing Activities	-$2.3B
NET CASH FROM INVESTING	-$2.5B
Net Debt Issuance	$405M
Common Stock Repurchased	-$3M
Common Dividends Paid	-$62M
Other Financing Activities	$492M
NET CASH FROM FINANCING	$818M
FREE CASH FLOW	$257M
Net Change in Cash	-$1.4B

Balance Sheet

Item	Amount
Cash & Equivalents	$684M
Short-Term Investments	$2.1B
Net Receivables	$64M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$2.8B
PP&E (Net)	$243M
Goodwill	$303M
Intangible Assets	$6M
Long-Term Investments	$16.6B
Tax Assets	$0
Other Non-Current Assets	$844M
TOTAL NON-CURRENT ASSETS	$18.0B
TOTAL ASSETS	$20.8B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$16.0B
TOTAL CURRENT LIABILITIES	$16.3B
Long-Term Debt	$2.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$53M
TOTAL NON-CURRENT LIABILITIES	$2.2B
TOTAL LIABILITIES	$18.5B
Common Stock	$136M
Additional Paid-In Capital	$1.7B
Retained Earnings	$1.7B
Treasury Stock	-$1.6B
Accum. Other Comp. Income	$52M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$0
TOTAL EQUITY	$2.3B
TOTAL LIABILITIES & EQUITY	$20.8B
Total Debt	$2.1B
Net Debt	$1.4B