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WALWestern Alliance Bancorporation
$79.81$8.8B
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WAL logoWestern Alliance Bancorporation(WAL)Earnings, Financials & Key Ratios

WAL•NYSE•Banking & Credit
9.1× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryRegional BanksSub-IndustryCommercial and middle-market focused banks
AboutWestern Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates in Commercial, Consumer Related, and Corporate & Other segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; and treasury management and residential mortgage products and services. It also offers commercial and industrial loan products, such as working capital lines of credit, loans to technology companies, inventory and accounts receivable lines, mortgage warehouse lines, equipment loans and leases, and other commercial loans; commercial real estate loans, which are secured by multi-family residential properties, professional offices, industrial facilities, retail centers, hotels, and other commercial properties; construction and land development loans for single family and multi-family residential projects, industrial/warehouse properties, office buildings, retail centers, medical office facilities, and residential lot developments; and consumer loans. In addition, the company provides other financial services, such as internet banking, wire transfers, electronic bill payment and presentment, lock box services, courier, and cash management services. Further, it holds certain investment securities, municipal and non-profit loans, and leases; invests primarily in low-income housing tax credits and small business investment corporations; and holds certain real estate loans and related securities. The company operates 36 branch locations, as well as loan production offices. Western Alliance Bancorporation was founded in 1994 and is headquartered in Phoenix, Arizona.Show more
  • Net Interest Income$2.86B+9.4%
  • Total Revenue$5.28B+5.2%
  • Net Income$969M+23.0%
  • Return on Equity13.23%+7.3%
  • Net Interest Margin3.09%-4.6%
  • Efficiency Ratio38.22%-2.0%
  • ROA1.12%+7.5%
  • Equity / Assets8.56%+3.4%
  • Book Value per Share72.57+18.3%

WAL Key Insights

Western Alliance Bancorporation (WAL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Efficient operations: 38.2% efficiency ratio
  • ✓Healthy dividend yield of 2.1%
  • ✓Trading at only 1.1x book value

✗Weaknesses

No significant weaknesses identified

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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WAL Price & Volume

Western Alliance Bancorporation (WAL) stock price & volume — 10-year historical chart

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WAL Growth Metrics

Western Alliance Bancorporation (WAL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years25.36%
5 Years31.65%
3 Years21.23%
TTM-

Profit CAGR

10 Years17.44%
5 Years13.85%
3 Years-2.87%
TTM23.02%

EPS CAGR

10 Years15.7%
5 Years11.61%
3 Years-3.45%
TTM22.96%

Return on Capital

10 Years14.41%
5 Years12.98%
3 Years10.23%
Last Year10.4%

WAL Recent Earnings

Western Alliance Bancorporation (WAL) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
Apr 21, 2026
Metric
Actual
Est
EPS
$1.68+3.7%
$1.62
Rev
$999M+4.2%
$958M
Q1 2026
Jan 27, 2026
Metric
Actual
Est
EPS
$2.59+7.9%
$2.40
Rev
$981M+7.4%
$913M
Q1 2026
Jan 26, 2026
Metric
Actual
Est
EPS
$2.59+7.9%
$2.40
Rev
$981M+7.4%
$913M
Q4 2025
Oct 21, 2025
Metric
Actual
Est
EPS
$2.28+9.6%
$2.08
Rev
$923M+3.9%
$888M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 21, 2026
$1.68vs $1.62+3.7%
$999Mvs $958M+4.2%
Q1 2026Jan 27, 2026
$2.59vs $2.40+7.9%
$981Mvs $913M+7.4%
Q1 2026Jan 26, 2026
$2.59vs $2.40+7.9%
$981Mvs $913M+7.4%
Q4 2025Oct 21, 2025
$2.28vs $2.08+9.6%
$923Mvs $888M+3.9%
Based on last 12 quarters of dataView full earnings history →

WAL Peer Comparison

Western Alliance Bancorporation (WAL) competitors in Commercial and middle-market focused banks — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
EWBC logoEWBCEast West Bancorp, Inc.Direct Competitor17.45B126.8113.324.63%28.27%15.77%0.36
FHN logoFHNFirst Horizon CorporationDirect Competitor12.31B24.8113.200.97%19.99%10.71%0.50
IBOC logoIBOCInternational Bancshares CorporationDirect Competitor4.57B73.5611.111.03%39.31%13.16%0.22
BOKF logoBOKFBOK Financial CorporationDirect Competitor7.92B130.3314.20-1.07%17.38%9.79%0.78
GBCI logoGBCIGlacier Bancorp, Inc.Direct Competitor6.3B48.4324.3414.48%16.77%6.53%0.69
CVBF logoCVBFCVB Financial Corp.Direct Competitor2.83B20.8113.69-2.33%32.48%9.25%0.43
ZION logoZIONZions Bancorporation, National AssociationProduct Competitor9.73B66.1711.01-0.98%18.18%13.33%0.61
CMA logoCMAComerica IncorporatedProduct Competitor11.35B88.6716.76-3.91%15.07%9.96%0.70

Compare WAL vs Peers

Western Alliance Bancorporation (WAL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EWBC

Most directly comparable listed peer for WAL.

Scale Benchmark

vs ICE

Larger-name benchmark to compare WAL against a more recognizable public peer.

Peer Set

Compare Top 5

vs EWBC, FHN, IBOC, BOKF

WAL Income Statement

Western Alliance Bancorporation (WAL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income
784.66M915.9M1.04B1.17B1.55B2.22B2.34B2.62B2.86B
NII Growth %
19.39%16.73%13.59%12.16%32.73%43.1%5.53%11.97%9.39%
Net Interest Margin %
3.86%3.96%3.88%3.2%2.77%3.27%3.3%3.24%3.09%
Interest Income
845.51M1.03B1.23B1.26B1.66B2.69B4.04B4.54B4.69B
Interest Expense
60.85M117.6M184.6M94.9M109.9M475.5M1.7B1.92B1.83B
Loan Loss Provision
17.25M25M19.3M123.6M-28.6M68.1M62.6M145.9M224.1M
Non-Interest Income
37.39M34.2M61.3M72.3M343.5M269.1M221.9M475.1M582.8M
Non-Interest Income %
4.24%3.2%4.77%5.42%17.16%9.09%5.21%9.47%11.05%
Total Revenue
882.91M▲ 0%
1.07B▲ 20.9%
1.29B▲ 20.5%
1.33B▲ 3.7%
2B▲ 50.1%
2.96B▲ 47.9%
4.26B▲ 43.8%
5.02B▲ 17.8%
5.28B▲ 5.2%
Revenue Growth %
19.54%20.93%20.47%3.72%50.08%47.88%43.78%17.83%5.17%
Non-Interest Expense
352.99M414.8M478.2M493.1M797.9M1.1B1.56B1.96B2.02B
Efficiency Ratio
39.98%38.85%37.18%36.96%39.85%37.19%36.75%39.01%38.22%
Operating Income
451.82M▲ 0%
510.3M▲ 12.9%
604.2M▲ 18.4%
622.5M▲ 3.0%
1.12B▲ 80.4%
1.32B▲ 17.2%
933.6M▼ 29.1%
991.2M▲ 6.2%
1.21B▲ 21.8%
Operating Margin %
51.17%47.79%46.97%46.66%56.09%44.45%21.93%19.76%22.88%
Operating Income Growth %
25.09%12.94%18.4%3.03%80.4%17.2%-29.06%6.17%21.79%
Pretax Income
451.82M▲ 0%
510.3M▲ 12.9%
604.2M▲ 18.4%
622.5M▲ 3.0%
1.12B▲ 80.4%
1.32B▲ 17.2%
933.6M▼ 29.1%
991.2M▲ 6.2%
1.21B▲ 21.8%
Pretax Margin %
51.17%47.79%46.97%46.66%56.09%44.45%21.93%19.76%22.88%
Income Tax
126.33M74.5M105M115.9M223.8M258.8M211.2M203.5M216.6M
Effective Tax Rate %
27.96%14.6%17.38%18.62%19.93%19.66%22.62%20.53%17.94%
Net Income
325.49M▲ 0%
435.8M▲ 33.9%
499.2M▲ 14.5%
506.6M▲ 1.5%
899.2M▲ 77.5%
1.06B▲ 17.6%
722.4M▼ 31.7%
787.7M▲ 9.0%
969M▲ 23.0%
Net Margin %
36.87%40.82%38.81%37.97%44.91%35.71%16.97%15.7%18.37%
Net Income Growth %
25.29%33.89%14.55%1.48%77.5%17.58%-31.67%9.04%23.02%
Net Income (Continuing)
325.49M435.8M499.2M506.6M899.2M1.06B722.4M787.7M990.6M
EPS (Diluted)
3.10▲ 0%
4.14▲ 33.5%
4.84▲ 16.9%
5.04▲ 4.1%
8.67▲ 72.0%
9.70▲ 11.9%
6.54▼ 32.6%
7.09▲ 8.4%
8.73▲ 23.1%
EPS Growth %
24%33.55%16.91%4.13%72.02%11.88%-32.58%8.41%23.13%
EPS (Basic)
3.124.164.865.068.729.746.557.148.79
Diluted Shares Outstanding
105M105.4M103.13M100.5M103.3M107.6M108.5M109.3M109.5M

WAL Balance Sheet

Western Alliance Bancorporation (WAL) balance sheet — assets, liabilities & shareholders' equity

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments
3.92B3.78B3.78B7.38B6.71B8.13B12.74B8.53B13.96B
Cash & Due from Banks
416.77M498.57M434.6M2.67B516M1.04B1.58B4.1B3.6B
Short Term Investments
3.5B3.28B3.35B4.71B6.19B7.09B11.16B4.44B10.36B
Total Investments
19.24B21.99B25.74B32.62B52.54B61.9B64.65B71.29B82.75B
Investments Growth %
19.07%14.29%17.06%26.7%61.08%17.81%4.44%10.27%16.07%
Long-Term Investments
15.74B18.72B22.4B27.91B46.35B54.8B53.48B66.85B72.38B
Accounts Receivables
000000000
Goodwill & Intangibles
300.75M299.15M297.6M298.5M1.33B1.83B1.79B1.79B2.14B
Goodwill
289.89M289.89M289.9M289.9M491M527M527M527M527M
Intangible Assets
10.85M9.26M7.7M8.6M841M1.3B1.27B1.26B1.62B
PP&E (Net)
118.72M119.47M198.4M206.6M315M439M484M489M573M
Other Assets
244.57M168.13M128.94M635.4M1.26B2.22B2.08B2.99B3.37B
Total Current Assets
3.92B3.78B3.78B7.38B6.71B8.13B12.74B8.53B13.96B
Total Non-Current Assets
16.41B19.33B23.04B29.08B49.28B59.6B58.12B72.4B78.82B
Total Assets
20.33B▲ 0%
23.11B▲ 13.7%
26.82B▲ 16.1%
36.46B▲ 35.9%
55.98B▲ 53.5%
67.73B▲ 21.0%
70.86B▲ 4.6%
80.93B▲ 14.2%
92.77B▲ 14.6%
Asset Growth %
18.19%13.68%16.06%35.94%53.54%20.99%4.62%14.21%14.63%
Return on Assets (ROA)
1.73%2.01%2%1.6%1.95%1.71%1.04%1.04%1.12%
Accounts Payable
000000000
Total Debt
792.92M873.87M488.4M649.6M2.54B7.38B8.3B6.63B6.48B
Net Debt
376.15M375.3M53.8M-2.02B2.02B6.33B6.73B2.54B2.88B
Long-Term Debt
376.9M360.46M393.6M548.7M1.67B2.2B1.34B3.32B2.47B
Short-Term Debt
416.02M513.41M16.7M21M727M4.99B6.78B3.15B3.88B
Other Liabilities
333.93M444.44M520.3M467.4M867M1.36B1.15B1.25B1.19B
Total Current Liabilities
17.39B19.69B22.81B31.95B48.34B58.64B62.12B69.49B81.01B
Total Non-Current Liabilities
710.84M804.89M992M1.1B2.68B3.74B2.67B4.74B3.82B
Total Liabilities
18.1B20.5B23.81B33.05B51.02B62.38B64.78B74.23B84.83B
Total Equity
2.23B▲ 0%
2.61B▲ 17.2%
3.02B▲ 15.4%
3.41B▲ 13.2%
4.96B▲ 45.4%
5.36B▲ 7.9%
6.08B▲ 13.5%
6.71B▲ 10.3%
7.95B▲ 18.5%
Equity Growth %
17.88%17.22%15.42%13.15%45.39%7.92%13.48%10.35%18.47%
Equity / Assets (Capital Ratio)
10.97%11.31%11.25%9.36%8.87%7.91%8.58%8.29%8.56%
Return on Equity (ROE)
15.8%18%17.73%15.76%21.47%20.49%12.64%12.32%13.23%
Book Value per Share
21.2424.8029.2533.9748.0449.7856.0261.3672.57
Tangible BV per Share
18.3721.9626.3631.0035.1532.7939.4945.0253.00
Common Stock
10K10K1.37B01.97B2.16B2.2B2.25B2.1B
Additional Paid-in Capital
1.42B1.42B1.37B1.39B00000
Retained Earnings
848.47M1.28B1.68B2B2.77B3.66B4.21B4.83B5.61B
Accumulated OCI
-3.15M-33.62M-1.35B92.3M15.7M-661M-513M-534M-344M
Treasury Stock
-40.17M-53.08M-62.7M-71.1M-86.8M-105M-116M-125M-137M
Preferred Stock
0000294.5M295M295M295M295M

WAL Cash Flow Statement

Western Alliance Bancorporation (WAL) cash flow — operating, investing & free cash flow history

MetricDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations
383.81M540.97M717.77M670.2M-2.65B2.25B-328.6M-2.74B-2.68B
Operating CF Growth %
36.76%40.95%32.68%-6.63%-496%184.6%-114.63%-734.45%2.3%
Net Income
325.49M435.79M499.17M506.6M899.2M1.06B722.4M787.7M976.4M
Depreciation & Amortization
13.39M14.3M29M34.6M50M74.6M86.5M118.5M0
Deferred Taxes
88.47M-16.7M-5.1M-25.1M42M-68.6M-24.9M12.4M0
Other Non-Cash Items
19.86M61.21M30.1M140.4M-3.52B1.18B-1.26B-3.94B-3.52B
Working Capital Changes
-86.95M20.69M138.4M-15M-157.6M-38.7M114.7M234.9M-136.8M
Cash from Investing
-2.96B-2.71B-3.72B-7.54B-14.71B-13.13B-2.16B-5.97B-9.96B
Purchase of Investments
-1.64B-763.7M-1.24B-3.32B-4.01B-3.06B-15.59B-17.06B-18.1B
Sale/Maturity of Investments
548.21M637.2M982.3M1.7B1.88B902.8M11.64B14.88B12.86B
Net Investment Activity
-1.09B-126.5M-260.2M-1.62B-2.14B-2.16B-3.95B-2.18B-5.24B
Acquisitions
-5.82M-4.13M00-1.02B-50M00-14.2M
Other Investing
-1.85B-2.58B-3.43B-5.89B-11.48B-10.78B1.91B-3.71B-4.59B
Cash from Financing
2.7B2.25B2.94B9.1B15.21B11.41B3.02B11.23B12.13B
Dividends Paid
00-51.3M-101.3M-127.6M-166.2M-171.5M-176.8M-184.8M
Share Repurchases
-13.81M-35.7M-120.2M-71.6M0000-69M
Stock Issued
0000540.3M157.7M100K100K293.3M
Net Stock Activity
-13.81M-35.7M-120.2M-71.6M540.3M157.7M100K100K224.3M
Debt Issuance (Net)
1000K1000K-1000K1000K-1000K1000K1000K1000K1000K
Other Financing
2.42B2.19B3.61B9.13B15.67B6.01B1.67B10.99B10.79B
Net Change in Cash
132.28M▲ 0%
81.8M▼ 38.2%
-64M▼ 178.2%
2.24B▲ 3595.5%
-2.16B▼ 196.3%
527M▲ 124.5%
532.7M▲ 1.1%
2.52B▲ 373.0%
-506.8M▼ 120.1%
Exchange Rate Effect
000000000
Cash at Beginning
284.49M416.8M498.57M434.6M2.67B516.4M1.04B1.58B4.1B
Cash at End
416.77M498.57M434.6M2.67B516.4M1.04B1.58B4.1B3.59B
Interest Paid
59.84M113.5M0108.6M111.6M452.9M1.58B1.94B1.39B
Income Taxes Paid
99.43M18.8M044.2M175.7M197.6M63.6M1.3M0
Free Cash Flow
374.95M▲ 0%
539.1M▲ 43.8%
682.62M▲ 26.6%
643.4M▼ 5.7%
-2.72B▼ 523.3%
2.1B▲ 177.3%
-442.9M▼ 121.0%
-2.83B▼ 538.0%
-2.79B▲ 1.2%
FCF Growth %
38.83%43.78%26.62%-5.75%-523.28%177.27%-121.05%-538.02%1.15%

WAL Banking Ratios

Western Alliance Bancorporation (WAL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)
14.92%15.8%18%17.73%15.76%21.47%20.49%12.64%12.32%13.23%
Return on Assets (ROA)
1.65%1.73%2.01%2%1.6%1.95%1.71%1.04%1.04%1.12%
Net Interest Margin
3.82%3.86%3.96%3.88%3.2%2.77%3.27%3.3%3.24%3.09%
Efficiency Ratio
44.16%39.98%38.85%37.18%36.96%39.85%37.19%36.75%39.01%38.22%
Equity / Assets
11%10.97%11.31%11.25%9.36%8.87%7.91%8.58%8.29%8.56%
Book Value / Share
18.2221.2424.829.2533.9748.0449.7856.0261.3672.57
NII Growth
33.42%19.39%16.73%13.59%12.16%32.73%43.1%5.53%11.97%9.39%
Dividend Payout
---10.28%20%14.19%15.72%23.74%22.45%19.07%
Related:WAL Dividend History·WAL Revenue History·WAL Price History·WAL P/E History·WAL Financial Ratios·WAL Institutional Holders

WAL SEC Filings & Documents

Western Alliance Bancorporation (WAL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 21, 2026·SEC

Material company update

Mar 6, 2026·SEC

Material company update

Feb 20, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 23, 2026·SEC

FY 2025

Feb 25, 2025·SEC

10-Q Quarterly Reports

3
FY 2025

Nov 3, 2025·SEC

FY 2025

Aug 1, 2025·SEC

FY 2025

May 1, 2025·SEC

WAL Frequently Asked Questions

Western Alliance Bancorporation (WAL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Western Alliance Bancorporation (WAL) grew revenue by 5.2% over the past year. This is steady growth.

Yes, Western Alliance Bancorporation (WAL) is profitable, generating $969.0M in net income for fiscal year 2025 (18.4% net margin).

Dividend & Returns

Yes, Western Alliance Bancorporation (WAL) pays a dividend with a yield of 2.11%. This makes it attractive for income-focused investors.

Western Alliance Bancorporation (WAL) has a return on equity (ROE) of 13.2%. This is reasonable for most industries.

Industry Metrics

Western Alliance Bancorporation (WAL) has a net interest margin (NIM) of 3.1%. This indicates healthy earnings from lending activities.

Western Alliance Bancorporation (WAL) has an efficiency ratio of 38.2%. This is excellent, indicating strong cost control.

What if you invested $1,000 in WAL back in 2001?

Total return calculator · dividends reinvested · 25+ years of data

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How much would $100/month in WAL be worth today?

Dollar cost averaging calculator · DCA vs lump sum

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