WaFd, Inc. (WAFD) 10-Year Financial Performance & Capital Metrics

WAFD • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutWaFd, 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 company was founded on November 15, 1994 and is headquartered in Seattle, WA.Show more

Net Interest Income -$427M -164.7%
Total Revenue $718M -49.9%
Net Income $226M +13.0%
Return on Equity 7.49% +1.5%
Net Interest Margin -1.6% -168.0%
Efficiency Ratio 45.59% +45.7%
ROA 0.83% +4.3%
Equity / Assets 11.38% +6.5%
Book Value per Share 37.87 -6.2%
Tangible BV/Share 32.37 -5.8%
Debt/Equity 0.60 -45.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 45.6% efficiency ratio
✓Well capitalized: 11.4% equity/assets
✓Healthy dividend yield of 3.1%
✓Trading near 52-week high
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak NIM of -1.6%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.15%

5Y0.27%

3Y-0.72%

TTM-

Profit (Net Income) CAGR

10Y3.5%

5Y5.44%

3Y-1.47%

TTM13.01%

EPS CAGR

10Y4.65%

5Y3.08%

3Y-8.11%

TTM6.45%

ROCE

10Y Avg5.75%

5Y Avg5.68%

3Y Avg5.27%

Latest5.68%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	608.64M	18.83	85.59	45.45%	2.94%	11.23%	8.17%	0.17
CWBCCommunity West Bancshares	447.97M	23.38	51.96	51.89%	4.67%	6.95%	3.83%	0.56
GBCIGlacier Bancorp, Inc.	6.29B	48.39	28.80	11.64%	15.27%	6.57%	3.34%	1.18
GBFHGBank Financial Holdings Inc.	465.21M	32.36	23.28	2%	30.99%	11.8%	5.65%	0.22
BOHBank of Hawaii Corporation	2.86B	71.86	20.77	6.6%	14.57%	10.28%	5.9%	0.45
HFWAHeritage Financial Corporation	867.93M	25.56	20.61	4.64%	13.64%	6.33%	7.03%	0.47
HTBKHeritage Commerce Corp	786.28M	12.82	19.42	3.35%	16.12%	6.19%	4.75%	0.06
NRIMNorthrim BanCorp, Inc.	640.63M	29.00	17.47	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Net Interest Income+	420.25M	431.93M	472.14M	481.06M	469.51M	505.11M	594.59M	690.23M	660.83M	-427.46M
NII Growth %	0.02%	0.03%	0.09%	0.02%	-0.02%	0.08%	0.18%	0.16%	-0.04%	-1.65%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	536.79M	548.92M	607.08M	671.47M	621.26M	591.61M	666.36M	1.04B	1.37B	1.34B
Interest Expense	116.54M	116.99M	134.94M	190.41M	151.76M	86.5M	71.77M	352.72M	710.88M	427.46M
Loan Loss Provision	-6.25M	-2.1M	-5.45M	-1.65M	21.75M	500K	3M	41.5M	17.5M	265.5M
Non-Interest Income+	57.08M	53.71M	43.98M	63.13M	86.99M	60.99M	67.02M	52.38M	61M	-621.72M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	593.88M	602.63M	651.06M	734.59M	708.25M	652.6M	733.38M	1.1B	1.43B	717.73M
Revenue Growth %	0.02%	0.01%	0.08%	0.13%	-0.04%	-0.08%	0.12%	0.49%	0.31%	-0.5%
Non-Interest Expense	235.45M	231.52M	264.32M	283.06M	315.56M	332.46M	358.57M	376.04M	448.27M	327.18M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	248.13M	256.22M	257.24M	262.77M	219.19M	233.14M	300.04M	325.08M	256.06M	289.64M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.01%	0.03%	0%	0.02%	-0.17%	0.06%	0.29%	0.08%	-0.21%	0.13%
Pretax Income+	248.13M	256.22M	257.24M	262.77M	219.19M	233.14M	300.04M	325.08M	256.06M	289.64M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	84.08M	82.68M	53.39M	52.52M	45.75M	49.52M	63.71M	67.65M	56.02M	63.57M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	164.05M	173.53M	203.85M	210.26M	173.44M	183.62M	236.33M	257.43M	200.04M	226.07M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	0.06%	0.17%	0.03%	-0.18%	0.06%	0.29%	0.09%	-0.22%	0.13%
Net Income (Continuing)	164.05M	173.53M	203.85M	210.26M	173.44M	183.62M	236.33M	257.43M	200.04M	226.07M
EPS (Diluted)+	1.78	1.94	2.40	2.61	2.26	2.39	3.39	3.72	2.50	2.63
EPS Growth %	0.07%	0.09%	0.24%	0.09%	-0.13%	0.06%	0.42%	0.1%	-0.33%	0.05%
EPS (Basic)	1.79	1.95	2.40	2.61	2.26	2.39	3.40	3.72	2.50	2.64
Diluted Shares Outstanding	91.91M	89.22M	85.11M	80.5M	76.73M	72.57M	65.4M	65.25M	74.29M	80.26M

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	450.37M	313.07M	268.65M	419.16M	1.7B	2.09B	683.97M	980.65M	2.38B	657.31M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	13.25B	13.8B	14.42B	14.86B	15.75B	16.34B	18.63B	19.9B	23.93B	24.27B
Investments Growth %	0%	0.04%	0.05%	0.03%	0.06%	0.04%	0.14%	0.07%	0.2%	0.01%
Long-Term Investments	11.33B	12.53B	13.1B	13.37B	13.5B	14.2B	16.58B	17.9B	21.35B	21.65B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	291.5M	293.15M	301.37M	301.37M	302.71M	303.46M	303.46M	304.75M	411.36M	414.72M
Intangible Assets	5.49M	5.53M	9.92M	7.88M	7.2M	6.56M	5.55M	5.87M	37.06M	27.37M
PP&E (Net)	281.95M	263.69M	268M	274.01M	252.81M	255.15M	243.06M	237.01M	247.9M	0
Other Assets	553.63M	540.8M	551.24M	563.84M	721.21M	602.23M	844.32M	955.68M	834.79M	4.61B
Total Current Assets	2.43B	1.62B	1.63B	1.95B	4.01B	4.28B	2.8B	3.07B	5.18B	35.45M
Total Non-Current Assets	12.46B	13.63B	14.23B	14.52B	14.78B	15.37B	17.97B	19.4B	22.88B	26.7B
Total Assets+	14.89B	15.25B	15.87B	16.47B	18.79B	19.65B	20.77B	22.47B	28.06B	26.7B
Asset Growth %	0.02%	0.02%	0.04%	0.04%	0.14%	0.05%	0.06%	0.08%	0.25%	-0.05%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	2.08B	2.23B	2.33B	2.25B	2.7B	1.72B	2.13B	3.65B	3.32B	1.82B
Net Debt	1.63B	1.91B	2.06B	1.83B	997.02M	-370.81M	1.44B	2.67B	937.21M	1.16B
Long-Term Debt	2.08B	2.23B	2.33B	2.25B	2.7B	1.72B	2.13B	3.65B	3.32B	1.82B
Short-Term Debt	0	0	0	0	0	0	0	0	0	10.98M
Other Liabilities	42.9M	56.63M	57.42M	57.83M	49.46M	47.02M	53.36M	52.55M	367.75M	21.84B
Total Current Liabilities	10.79B	10.97B	11.48B	12.13B	14.03B	15.76B	16.32B	16.35B	21.37B	23.18B
Total Non-Current Liabilities	2.12B	2.28B	2.39B	2.31B	2.75B	1.77B	2.18B	3.7B	3.69B	23.66B
Total Liabilities	12.91B	13.25B	13.87B	14.44B	16.78B	17.52B	18.5B	20.05B	25.06B	23.66B
Total Equity+	1.98B	2.01B	2B	2.03B	2.01B	2.13B	2.27B	2.43B	3B	3.04B
Equity Growth %	0.01%	0.02%	-0%	0.02%	-0.01%	0.06%	0.07%	0.07%	0.24%	0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.08%	0.09%	0.1%	0.1%	0.09%	0.09%	0.11%	0.11%	0.07%	0.07%
Book Value per Share	21.50	22.48	23.46	25.26	26.25	29.30	34.77	37.18	40.39	37.87
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	134.31M	134.96M	135.34M	135.54M	135.73M	135.99M	136.27M	136.47M	154.01M	154.41M
Additional Paid-in Capital	1.65B	1.66B	1.67B	1.67B	1.68B	1.68B	1.69B	1.69B	2.15B	2.16B
Retained Earnings	943.88M	1.04B	1.19B	1.34B	1.42B	1.53B	1.69B	1.87B	1.98B	2.11B
Accumulated OCI	-11.16M	5.01M	8.29M	15.29M	16.95M	69.78M	52.48M	46.92M	55.85M	56.95M
Treasury Stock	-739.69M	-838.06M	-1B	-1.13B	-1.24B	-1.59B	-1.59B	-1.61B	-1.64B	-1.74B
Preferred Stock	0	0	0	0	0	300M	300M	300M	300M	300M

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	221.72M	179.7M	190.7M	234.05M	166.6M	314.45M	268.46M	213.96M	439.23M	236.95M
Operating CF Growth %	0.55%	-0.19%	0.06%	0.23%	-0.29%	0.89%	-0.15%	-0.2%	1.05%	-0.46%
Net Income	164.05M	173.53M	203.85M	210.26M	173.44M	183.62M	236.33M	257.43M	200.04M	226.07M
Depreciation & Amortization	19.51M	41.68M	46.73M	31.06M	39.91M	33.91M	64.05M	22.97M	134.1M	9.72M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-24.56M	-13.49M	-7.72M	-14.13M	-5.03M	515K	2.17M	39.5M	14.6M	8.3M
Working Capital Changes	59.15M	-27.93M	-56.93M	1.6M	-48.19M	90.03M	-40.89M	-113.85M	81.31M	-15.66M
Cash from Investing+	-131.06M	-544.54M	-674.45M	-421.37M	-920.98M	-579.75M	-2.49B	-1.38B	3.29B	-318.41M
Purchase of Investments	-137.59M	-542.42M	-443.62M	-363.71M	-1.06B	-530.23M	-783.3M	-388.98M	-600.45M	-1.75B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	-3.37M	-2.21M	0	-2.81M	-1.5M	0	-2.59M	623.58M	-360K
Other Investing	-758.66M	-943.54M	-588.31M	-424.89M	-875.7M	-998.58M	-2.31B	-1.43B	2.68B	841.78M
Cash from Financing+	75.66M	227.54M	439.32M	337.83M	2.04B	653.12M	817.86M	1.46B	-2.33B	-1.64B
Dividends Paid	-49.93M	-74.52M	-56M	-63.32M	-66.5M	-72.25M	-76.2M	-78.42M	-88.89M	-99.26M
Share Repurchases	-87.85M	-98.37M	-164.25M	-123.85M	-112.13M	-348.65M	-3.26M	-30.46M	-27.07M	-101.93M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K
Other Financing	-36.56M	255.43M	554.57M	605M	1.78B	1.77B	492.32M	44.52M	-309.55M	66.97M
Net Change in Cash+	166.32M	-137.3M	-44.42M	150.51M	1.28B	387.83M	-1.41B	296.68M	1.4B	-1.72B
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	284.05M	450.37M	313.07M	268.65M	419.16M	1.7B	2.09B	683.97M	980.65M	2.38B
Cash at End	450.37M	313.07M	268.65M	419.16M	1.7B	2.09B	683.97M	980.65M	2.38B	657.31M
Interest Paid	114.51M	111.33M	133.72M	194.28M	146.68M	71.84M	65.17M	364.39M	739.08M	746.93M
Income Taxes Paid	68.51M	54.08M	44.26M	33.55M	35.64M	47.85M	35.1M	61.24M	20.28M	41.65M
Free Cash Flow+	179.95M	164.24M	163.57M	198.52M	134.66M	284.98M	256.68M	198.89M	414.55M	208.25M
FCF Growth %	0.87%	-0.09%	-0%	0.21%	-0.32%	1.12%	-0.1%	-0.23%	1.08%	-0.5%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.35%	8.72%	10.19%	10.43%	8.57%	8.87%	10.74%	10.95%	7.37%	7.49%
Return on Assets (ROA)	1.11%	1.15%	1.31%	1.3%	0.98%	0.96%	1.17%	1.19%	0.79%	0.83%
Net Interest Margin	2.82%	2.83%	2.98%	2.92%	2.5%	2.57%	2.86%	3.07%	2.36%	-1.6%
Efficiency Ratio	39.65%	38.42%	40.6%	38.53%	44.55%	50.94%	48.89%	34.33%	31.29%	45.59%
Equity / Assets	13.27%	13.15%	12.59%	12.34%	10.72%	10.82%	10.95%	10.8%	10.69%	11.38%
Book Value / Share	21.5	22.48	23.46	25.26	26.25	29.3	34.77	37.18	40.39	37.87
NII Growth	1.64%	2.78%	9.31%	1.89%	-2.4%	7.58%	17.71%	16.09%	-4.26%	-164.69%
Dividend Payout	30.43%	42.94%	27.47%	30.11%	38.34%	35.88%	26.06%	24.78%	37.13%	37.44%

Frequently Asked Questions

Valuation & Price

WaFd, Inc. (WAFD) has a price-to-earnings (P/E) ratio of 12.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

WaFd, Inc. (WAFD) saw revenue decline by 49.9% over the past year.

Yes, WaFd, Inc. (WAFD) is profitable, generating $226.1M in net income for fiscal year 2025 (31.5% net margin).

Dividend & Returns

Yes, WaFd, Inc. (WAFD) pays a dividend with a yield of 3.13%. This makes it attractive for income-focused investors.

WaFd, Inc. (WAFD) has a return on equity (ROE) of 7.5%. This is below average, suggesting room for improvement.

Industry Metrics

WaFd, Inc. (WAFD) has a net interest margin (NIM) of -1.6%. NIM has been under pressure due to interest rate environment.

WaFd, Inc. (WAFD) has an efficiency ratio of 45.6%. This is excellent, indicating strong cost control.

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