WBS

MKT CAP:$12B

Webster Financial Corporation

Market Cap

$12B

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

Financials·Banks - Regional·🇺🇸·NYSE

Stock Price

$71.81+$7.99 (+12.52%)

Apr 24, 2026

Company Details

Webster Financial Corporation operates as the bank holding company for Webster Bank, National Association that provides a range of banking, investment, and financial services to individuals, families, and businesses in the United States. It...

CEO

John R. Ciulla

IPO Date

Dec 12, 1986

Website

public.websteronline.com

Key Metrics TTM

Revenue

$4.4B

+5.8% YoY

Net Income

$1.0B

EPS (Diluted)

$5.91

Free Cash Flow

$1.0B

Revenue / Share

$27.54

Gross Margin

60.8%

Operating Margin

28.5%

Net Margin

22.7%

FCF Margin

22.8%

P/S

2.6x

P/E

11.5x

Earnings Reports

Q1 2026

Apr 28, 2026

PENDING

FY 2025

Feb 27, 2026

$4.4B+6.1%EPS $5.91

Q4 2025

Feb 27, 2026

$1.1B+8.1%EPS $1.55

Q3 2025

Nov 10, 2025

$1.1B+6.3%EPS $1.54

Q2 2025

Aug 11, 2025

$1.1B+7.5%EPS $1.52

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$514M	$309M	-$50M
Q2 22	$635M	$595M	$237M
Q3 22	$729M	$626M	$298M
Q4 22	$843M	$659M	$313M
Q1 23	$902M	$619M	$287M
Q2 23	$1.0B	$642M	$298M
Q3 23	$1.0B	$641M	$278M
Q4 23	$997M	$599M	$222M
Q1 24	$1.1B	$622M	$286M
Q2 24	$1.0B	$556M	$230M
Q3 24	$1.1B	$594M	$245M
Q4 24	$1.0B	$597M	$257M
Q1 25	$1.1B	$627M	$284M
Q2 25	$1.1B	$669M	$324M
Q3 25	$1.1B	$689M	$332M
Q4 25	$1.1B	$704M	$321M

Valuation

Quarter	P/S	P/E
Q1 22	7.9x	40.7x
Q2 22	6.4x	31.1x
Q3 22	5.3x	22.7x
Q4 22	4.3x	18.0x
Q1 23	3.7x	13.1x
Q2 23	3.3x	12.4x
Q3 23	3.1x	12.5x
Q4 23	2.9x	13.3x
Q1 24	2.8x	13.4x
Q2 24	2.8x	14.3x
Q3 24	2.8x	14.9x
Q4 24	2.8x	15.1x
Q1 25	2.8x	14.8x
Q2 25	2.7x	13.5x
Q3 25	2.7x	12.5x
Q4 25	2.6x	11.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$215M	$211M
Q2 22	$424M	$418M
Q3 22	$422M	$413M
Q4 22	$275M	$265M
Q1 23	$214M	$204M
Q2 23	$249M	$240M
Q3 23	$427M	$413M
Q4 23	$88M	$81M
Q1 24	$244M	$239M
Q2 24	$224M	$216M
Q3 24	$45M	$35M
Q4 24	$891M	$879M
Q1 25	$95M	$87M
Q2 25	$271M	$258M
Q3 25	$375M	$363M
Q4 25	$318M	$302M

Capital Expenditures

Quarter	CapEx
Q1 22	$5M
Q2 22	$5M
Q3 22	$9M
Q4 22	$10M
Q1 23	$10M
Q2 23	$9M
Q3 23	$14M
Q4 23	$6M
Q1 24	$5M
Q2 24	$8M
Q3 24	$10M
Q4 24	$12M
Q1 25	$8M
Q2 25	$13M
Q3 25	$12M
Q4 25	$16M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+64.5%	+224.2%
Q2 22	+108.6%	+125.6%
Q3 22	+125.3%	+117.5%
Q4 22	+159.4%	+189.6%
Q1 23	+75.5%	+9.0%
Q2 23	+61.1%	+82.4%
Q3 23	+40.1%	+72.5%
Q4 23	+18.3%	+46.4%
Q1 24	+16.6%	+24.5%
Q2 24	-0.4%	+8.8%
Q3 24	+4.0%	+10.0%
Q4 24	+5.1%	+2.0%
Q1 25	+1.4%	+2.2%
Q2 25	+7.5%	-2.2%
Q3 25	+6.3%	-2.4%
Q4 25	+8.1%	+2.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$9M	1.8%
Q2 22	$21M	3.4%
Q3 22	$13M	1.8%
Q4 22	$11M	1.3%
Q1 23	$12M	1.3%
Q2 23	$14M	1.4%
Q3 23	$14M	1.4%
Q4 23	$14M	1.4%
Q1 24	$14M	1.3%
Q2 24	$13M	1.3%
Q3 24	$14M	1.4%
Q4 24	$14M	1.3%
Q1 25	$14M	1.3%
Q2 25	$15M	1.4%
Q3 25	$13M	1.1%
Q4 25	$15M	1.3%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	—	$148M	$4M
Q2 22	—	$170M	$3M
Q3 22	—	$176M	$4M
Q4 22	—	$177M	$5M
Q1 23	—	$186M	$3M
Q2 23	—	$187M	$5M
Q3 23	—	$194M	$5M
Q4 23	—	$231M	$5M
Q1 24	—	$201M	$4M
Q2 24	—	$202M	$4M
Q3 24	—	$210M	$4M
Q4 24	—	$209M	$6M
Q1 25	—	$215M	$4M
Q2 25	—	$32M	$5M
Q3 25	$48M	$255M	$5M
Q4 25	—	$214M	$19M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$738M	$33M	$771M
Q2 22	$811M	$34M	$845M
Q3 22	$426M	$59M	$485M
Q4 22	$840M	$7.9B	$8.7B
Q1 23	$2.2B	$42M	$2.3B
Q2 23	$1.4B	$33M	$1.4B
Q3 23	$1.8B	$47M	$1.8B
Q4 23	$1.7B	$9.0B	$10.7B
Q1 24	$1.3B	$61M	$1.3B
Q2 24	$1.3B	$48M	$1.3B
Q3 24	$3.2B	$27M	$3.2B
Q4 24	$2.1B	$6M	$2.1B
Q1 25	$2.5B	$6M	$2.5B
Q2 25	$3.0B	$881.0K	$3.0B
Q3 25	$3.1B	$614.0K	$3.1B
Q4 25	$371M	$18.0B	$18.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	148M	+63.4%	+63.7%
Q2 22	176M	+19.2%	+95.0%
Q3 22	174M	-1.1%	+92.8%
Q4 22	173M	-0.7%	+91.3%
Q1 23	173M	+0.1%	+17.2%
Q2 23	173M	-0.0%	-1.8%
Q3 23	171M	-0.8%	-1.5%
Q4 23	171M	-0.4%	-1.2%
Q1 24	171M	+0.0%	-1.3%
Q2 24	170M	-0.4%	-1.7%
Q3 24	170M	-0.0%	-0.8%
Q4 24	170M	+0.1%	-0.4%
Q1 25	170M	-0.3%	-0.7%
Q2 25	166M	-2.0%	-2.2%
Q3 25	164M	-1.0%	-3.2%
Q4 25	161M	-2.3%	-5.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$158.4K	3K
Q2 22	$195.6K	3K
Q3 22	$224.5K	3K
Q4 22	$207.3K	4K
Q1 23	$221.8K	4K
Q2 23	$251.6K	4K
Q3 23	$251.2K	4K
Q4 23	$241.3K	4K
Q1 24	$254.5K	4K
Q2 24	$246.6K	4K
Q3 24	$257.0K	4K
Q4 24	$243.8K	4K
Q1 25	$248.1K	4K
Q2 25	$254.9K	4K
Q3 25	$262.8K	4K
Q4 25	$251.8K	4K

Revenue / Employee