Last 47 quarters of trend data · Financial Services · Banks - Regional
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Western Alliance Bancorporation's quarterly P/E stands at 8.1x, down 24.2% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 14.2% YoY to 8.5x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 9.43 | 8.11 | 9.51 | 9.42 | 10.73 | 10.71 | 12.01 | 8.97 | 10.03 | 12.37 | 5.83 | 4.65 | 6.94 |
| — | -24.2% | -20.8% | +4.9% | +7.0% | -13.4% | +105.9% | +92.9% | +44.5% | +121.8% | -14.1% | -37.0% | -25.6% | |
| P/S Ratio | 1.71 | 1.63 | 1.70 | 1.67 | 1.74 | 1.77 | 1.81 | 1.38 | 1.50 | 1.60 | 1.09 | 0.90 | 1.08 |
| — | -7.9% | -6.0% | +21.2% | +16.7% | +10.8% | +66.7% | +53.2% | +38.9% | -7.6% | -51.9% | -69.3% | -71.8% | |
| P/B Ratio | 1.13 | 1.16 | 1.24 | 1.15 | 1.17 | 1.36 | 1.42 | 1.08 | 1.13 | 1.18 | 0.87 | 0.69 | 0.70 |
| — | -15.2% | -12.7% | +6.6% | +3.0% | +15.9% | +63.4% | +55.7% | +62.6% | -2.4% | -38.6% | -54.7% | -60.4% | |
| P/FCF | — | — | — | — | — | — | — | — | — | 5.70 | — | — | 2.93 |
| — | — | — | — | — | — | — | — | — | +160.3% | — | — | -20.9% | |
| EV / EBITDA | 9.88 | 8.48 | 6.10 | 9.79 | 9.32 | 9.89 | 9.74 | 8.56 | 10.38 | 14.70 | 9.63 | 10.97 | 20.69 |
| — | -14.2% | -37.4% | +14.4% | -10.2% | -32.7% | +1.2% | -21.9% | -49.8% | +77.9% | +4.5% | +24.8% | +221.3% | |
| EV / EBIT | 9.88 | 8.48 | 6.75 | 10.87 | 10.50 | 11.26 | 10.84 | 9.51 | 11.58 | 16.44 | 10.17 | 11.95 | 23.22 |
| — | -24.7% | -37.7% | +14.4% | -9.4% | -31.5% | +6.6% | -20.4% | -50.1% | +87.6% | +4.4% | +29.2% | +241.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Western Alliance Bancorporation's operating margin was 25.3% in Q4 2025, up 2.8 pp QoQ and up 5.2 pp YoY. The trailing four-quarter average of 22.7% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 6.4% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.1% | 62.7% | 60.3% | 61.3% | 60.5% | 59.0% | 59.0% | 57.6% | 59.7% | 58.9% | 60.3% | 57.2% | 58.0% |
| — | +6.4% | +2.3% | +6.3% | +1.4% | +0.1% | -2.2% | +0.8% | +2.9% | -19.7% | -23.6% | -35.6% | -37.5% | |
| Operating Margin | 22.9% | 25.3% | 22.4% | 22.7% | 20.4% | 20.1% | 19.3% | 19.9% | 19.8% | 18.9% | 24.2% | 23.6% | 20.7% |
| — | +25.8% | +16.4% | +14.2% | +3.1% | +6.5% | -20.3% | -15.8% | -4.1% | -51.7% | -42.3% | -52.4% | -60.0% | |
| Net Margin | 18.4% | 20.3% | 18.1% | 18.0% | 16.5% | 16.8% | 15.3% | 15.5% | 15.2% | 13.2% | 18.9% | 19.6% | 15.9% |
| — | +21.0% | +18.6% | +15.6% | +8.8% | +27.1% | -19.0% | -20.8% | -4.7% | -57.9% | -43.8% | -51.0% | -61.7% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.2% | 3.7% | 3.4% | 3.2% | 2.9% | 3.2% | 3.1% | 3.1% | 2.9% | 2.5% | 3.8% | 3.8% | 2.6% |
| — | +12.9% | +9.3% | +1.8% | -1.2% | +29.6% | -19.0% | -19.6% | +10.8% | -55.7% | -28.4% | -26.2% | -45.7% | |
| ROA | 1.1% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.3% | 0.2% |
| — | +15.6% | +14.7% | +10.5% | +1.2% | +29.1% | -20.2% | -20.7% | +17.1% | -51.2% | -20.2% | -24.6% | -50.3% | |
| ROIC | 6.5% | 2.0% | 1.8% | 1.6% | 1.4% | 1.6% | 1.6% | 1.4% | 1.2% | 1.1% | 1.3% | 1.0% | 0.8% |
| — | +23.1% | +10.6% | +16.3% | +14.9% | +53.0% | +22.0% | +39.7% | +58.7% | -51.5% | -37.6% | -62.5% | -74.7% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Western Alliance Bancorporation's Debt/EBITDA ratio is 18.2x, up from 13.6x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 40.3% YoY to 0.17x, strengthening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.82 | 0.82 | 0.61 | 0.93 | 0.72 | 0.99 | 0.61 | 1.05 | 1.18 | 1.37 | 1.71 | 1.87 | 3.07 |
| — | -17.6% | +0.9% | -11.4% | -38.9% | -27.6% | -64.5% | -43.9% | -61.5% | -0.8% | +16.6% | +48.4% | +716.9% | |
| Debt / EBITDA | 5.36 | 18.21 | 13.55 | 21.29 | 18.76 | 22.46 | 14.45 | 24.15 | 28.19 | 35.19 | 33.43 | 37.52 | 81.76 |
| — | -18.9% | -6.2% | -11.8% | -33.5% | -36.2% | -56.8% | -35.6% | -65.5% | +84.5% | +58.4% | +104.5% | +1267.5% | |
| Current Ratio | 0.17 | 0.17 | 0.20 | 0.06 | 0.10 | 0.12 | 0.11 | 0.14 | 0.15 | 0.21 | 0.11 | 0.07 | 0.07 |
| — | +40.3% | +77.8% | -58.6% | -34.4% | -40.1% | +2.2% | +92.8% | +103.7% | +47.8% | +305.5% | +122.8% | +44.2% | |
| Quick Ratio | 0.17 | 0.17 | 0.20 | 0.06 | 0.10 | 0.12 | 0.11 | 0.14 | 0.15 | 0.21 | 0.11 | 0.07 | 0.07 |
| — | +40.3% | +77.8% | -58.6% | -34.4% | -40.1% | +2.2% | +92.8% | +103.7% | +47.8% | +305.5% | +122.8% | +44.2% | |
| Interest Coverage | 0.66 | 0.79 | 0.66 | 0.64 | 0.55 | 0.55 | 0.50 | 0.50 | 0.51 | 0.47 | 0.63 | 0.58 | 0.51 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Western Alliance Bancorporation's current P/E is 9.4x. The average P/E over the last 4 quarters is 9.4x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Western Alliance Bancorporation's current operating margin is 22.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Western Alliance Bancorporation's business trajectory between earnings reports.