Westamerica Bancorporation (WABC) Financial Ratios
30 years of historical data (1995–2024) · Financial Services · Banks - Regional
EV/EBITDA
↓
4.56
↓-24% vs avg
5yr avg: 6.04
30Y Low4.4·High22.9
P/FCF
↓
9.82
↓-25% vs avg
5yr avg: 13.11
30Y Low7.8·High26.4
P/B Ratio
↓
1.64
↓-16% vs avg
5yr avg: 1.96
30Y Low1.6·High5.3
ROE
↑
16.7%
↓+7% vs avg
5yr avg: 15.6%
30Y Low9%·High28%
Debt/EBITDA
↓
0.69
↓-4% vs avg
5yr avg: 0.72
30Y Low0.3·High6.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WABC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Westamerica Bancorporation trades at 10.5x earnings, 24% below its 5-year average of 13.8x, sitting at the 7th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.4x, the stock trades at a discount of 21%. On a free-cash-flow basis, the stock trades at 9.8x P/FCF, 25% below the 5-year average of 13.1x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.4B | $1.5B | $1.6B | $1.6B | $1.5B | $1.8B | $1.5B | $1.6B | $1.6B | $1.2B |
| Enterprise Value | $909M | $937M | $1.4B | $1.4B | $583M | $991M | $1.5B | $1.2B | $1.1B | $1.3B | $869M |
| P/E Ratio → | 10.51 | 10.09 | 9.31 | 13.00 | 17.93 | 18.55 | 22.74 | 20.85 | 31.51 | 27.48 | 20.33 |
| P/S Ratio | 4.41 | 4.50 | 4.60 | 5.95 | 7.16 | 7.17 | 8.88 | 7.45 | 8.10 | 8.85 | 6.48 |
| P/B Ratio | 1.64 | 1.57 | 1.95 | 2.64 | 1.88 | 1.76 | 2.50 | 2.42 | 2.67 | 2.88 | 2.25 |
| P/FCF | 9.82 | 10.01 | 9.59 | 14.06 | 17.75 | 14.12 | 23.86 | 15.93 | 20.16 | 21.31 | 18.14 |
| P/OCF | 9.70 | 9.89 | 9.52 | 13.96 | 17.48 | 13.83 | 22.68 | 15.42 | 19.48 | 20.81 | 16.98 |
P/E links to full P/E history page with 30-year chart
WABC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Westamerica Bancorporation's enterprise value stands at 4.6x EBITDA, 24% below its 5-year average of 6.0x. The Financial Services sector median is 11.4x, placing the stock at a 60% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.01 | 4.25 | 5.12 | 2.69 | 4.76 | 7.45 | 5.86 | 5.74 | 6.97 | 4.71 |
| EV / EBITDA | 4.56 | 4.70 | 5.97 | 7.51 | 4.36 | 7.65 | 12.20 | 10.16 | 9.85 | 12.73 | 9.33 |
| EV / EBIT | 4.81 | 4.95 | 6.29 | 8.26 | 4.98 | 9.28 | 14.60 | 12.88 | 12.79 | 15.91 | 11.33 |
| EV / FCF | — | 6.70 | 8.87 | 12.11 | 6.67 | 9.39 | 20.02 | 12.53 | 14.29 | 16.77 | 13.18 |
WABC Profitability
Margins and return-on-capital ratios measuring operating efficiency
Westamerica Bancorporation earns an operating margin of 60.8%, significantly above the Financial Services sector average of 21.2%. Operating margins have compressed from 62.0% to 60.8% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 16.7% indicates solid capital efficiency, compared to the sector median of 9.4%. ROIC of 15.1% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.3% | 94.3% | 99.2% | 99.3% | 99.1% | 97.1% | 99.1% | 99.0% | 100.0% | 100.6% | 98.7% |
| Operating Margin | 60.8% | 60.8% | 67.7% | 62.0% | 54.0% | 51.4% | 51.1% | 45.5% | 44.9% | 43.8% | 41.6% |
| Net Profit Margin | 44.6% | 44.6% | 49.4% | 45.7% | 39.9% | 38.7% | 39.0% | 35.8% | 25.7% | 32.2% | 31.9% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.7% | 16.7% | 23.5% | 17.1% | 10.3% | 10.2% | 11.9% | 11.9% | 8.7% | 10.8% | 11.1% |
| ROA | 2.2% | 2.2% | 2.4% | 1.7% | 1.2% | 1.3% | 1.4% | 1.3% | 0.9% | 1.1% | 1.2% |
| ROIC | 15.1% | 15.1% | 21.8% | 14.9% | 9.0% | 9.0% | 10.3% | 9.6% | 9.4% | 9.1% | 8.4% |
| ROCE | 21.3% | 21.3% | 29.6% | 21.1% | 12.6% | 12.5% | 15.7% | 15.6% | 15.7% | 15.0% | 14.9% |
WABC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Westamerica Bancorporation carries a Debt/EBITDA ratio of 0.7x, which is very conservative (83% below the sector average of 4.1x). The company holds a net cash position — cash of $601M exceeds total debt of $138M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 10.9x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.10 | 0.12 | 0.20 | 0.14 | 0.11 | 0.17 | 0.20 | 0.21 | 0.20 |
| Debt / EBITDA | 0.69 | 0.69 | 0.33 | 0.40 | 1.23 | 0.94 | 0.63 | 0.89 | 1.03 | 1.18 | 1.14 |
| Net Debt / Equity | — | -0.52 | -0.15 | -0.37 | -1.17 | -0.59 | -0.40 | -0.52 | -0.78 | -0.61 | -0.61 |
| Net Debt / EBITDA | -2.32 | -2.32 | -0.49 | -1.21 | -7.24 | -3.86 | -2.34 | -2.75 | -4.04 | -3.44 | -3.51 |
| Debt / FCF | — | -3.31 | -0.72 | -1.95 | -11.07 | -4.74 | -3.84 | -3.40 | -5.87 | -4.54 | -4.96 |
| Interest Coverage | 10.85 | 10.85 | 56.96 | 86.02 | 59.86 | 58.55 | 55.73 | 46.45 | 45.88 | 37.79 | 31.63 |
Net cash position: cash ($601M) exceeds total debt ($138M)
WABC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.39x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.75x to 0.39x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.39 | 0.39 | 0.77 | 0.75 | 0.89 | 0.82 | 0.71 | 0.62 | 0.57 | 0.49 | 0.44 |
| Quick Ratio | 0.39 | 0.39 | 0.77 | 0.75 | 0.89 | 0.82 | 0.71 | 0.62 | 0.57 | 0.49 | 0.44 |
| Cash Ratio | 0.12 | 0.12 | 0.03 | 0.05 | 0.17 | 0.11 | 0.08 | 0.08 | 0.12 | 0.10 | 0.09 |
| Asset Turnover | — | 0.05 | 0.05 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.03 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
WABC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Westamerica Bancorporation returns 3.2% to shareholders annually — split between a 3.2% dividend yield and 0.0% buyback yield. The payout ratio of 33.9% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 9.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.2% | 3.4% | 3.1% | 2.8% | 2.9% | 3.0% | 2.4% | 2.9% | 2.6% | 2.5% | 3.3% |
| Payout Ratio | 33.9% | 33.9% | 28.4% | 37.0% | 51.2% | 55.1% | 54.7% | 59.6% | 82.6% | 67.8% | 66.6% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.5% | 9.9% | 10.7% | 7.7% | 5.6% | 5.4% | 4.4% | 4.8% | 3.2% | 3.6% | 4.9% |
| FCF Yield | 10.2% | 10.0% | 10.4% | 7.1% | 5.6% | 7.1% | 4.2% | 6.3% | 5.0% | 4.7% | 5.5% |
| Buyback Yield | 0.0% | 0.0% | 0.9% | 0.0% | 0.0% | 1.1% | 0.0% | 0.0% | 0.0% | 0.3% | 1.2% |
| Total Shareholder Yield | 3.2% | 3.4% | 4.0% | 2.9% | 2.9% | 4.1% | 2.4% | 2.9% | 2.6% | 2.8% | 4.5% |
| Shares Outstanding | — | $27M | $27M | $27M | $27M | $27M | $27M | $27M | $26M | $26M | $26M |
Peer Comparison
Compare WABC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 WABCYou | $1B | 10.5 | 4.6 | 9.8 | 94.3% | 60.8% | 16.7% | 15.1% | 0.7 |
 CVBF | $3B | 13.6 | 13.1 | 12.9 | 79.9% | 43.8% | 9.3% | 6.8% | 3.5 |
 BANR | $2B | 11.7 | 9.6 | 9.0 | 79.0% | 29.5% | 10.5% | 7.7% | 1.5 |
 COLB | $7B | 13.1 | 11.9 | 10.2 | 67.7% | 23.4% | 8.5% | 5.4% | 4.5 |
 PFSI | $5B | 9.3 | 18.1 | — | 91.4% | 34.6% | 12.3% | 4.4% | 15.3 |
 BOKF | $10B | 16.7 | 17.4 | 7.3 | 57.1% | 19.8% | 9.8% | 4.1% | 5.8 |
 EWBC | $17B | 13.2 | 9.7 | 11.5 | 60.1% | 37.4% | 15.9% | 11.2% | 1.6 |
 FFIN | $5B | 20.9 | 14.3 | 15.8 | 70.8% | 36.8% | 14.4% | 11.0% | 0.7 |
 UMBF | $10B | 14.7 | 12.3 | 10.4 | 54.4% | 20.3% | 12.6% | 7.5% | 3.6 |
 GBCI | $6B | 25.0 | 24.8 | 18.6 | 69.0% | 22.9% | 6.4% | 3.5% | 7.9 |
 HBAN | $26B | 12.0 | 16.0 | 11.6 | 61.7% | 21.5% | 10.0% | 5.1% | 6.9 |
| Financial Services Median | — | 13.4 | 11.4 | 10.6 | 63.4% | 21.2% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonWABC — Frequently Asked Questions
Quick answers to the most common questions about buying WABC stock.
What is Westamerica Bancorporation's P/E ratio?
Westamerica Bancorporation's current P/E ratio is 10.5x. The historical average is 18.6x. This places it at the 7th percentile of its historical range.
What is Westamerica Bancorporation's EV/EBITDA?
Westamerica Bancorporation's current EV/EBITDA is 4.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.3x.
What is Westamerica Bancorporation's ROE?
Westamerica Bancorporation's return on equity (ROE) is 16.7%. The historical average is 18.1%.
Is WABC stock overvalued?
Based on historical data, Westamerica Bancorporation is trading at a P/E of 10.5x. This is at the 7th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Westamerica Bancorporation's dividend yield?
Westamerica Bancorporation's current dividend yield is 3.22% with a payout ratio of 33.9%.
What are Westamerica Bancorporation's profit margins?
Westamerica Bancorporation has 94.3% gross margin and 60.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Westamerica Bancorporation have?
Westamerica Bancorporation's Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.