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WD logoWalker & Dunlop, Inc.(WD)Earnings, Financials & Key Ratios

WD•NYSE•Banking & Credit
$51.16
$1.76B mkt cap·31.2× P/E·Price updated May 6, 2026
SectorFinancial ServicesIndustryMortgage FinanceSub-IndustryCommercial and multifamily mortgage lenders
AboutWalker & Dunlop, Inc., through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate financing products and services for owners and developers of real estate in the United States. The company offers first mortgage, second trust, supplemental, construction, mezzanine, preferred equity, small-balance, and bridge/interim loans. It also provides multifamily finance for manufactured housing communities, student housing, affordable housing, and senior housing properties under the Fannie Mae's DUS program; and construction and permanent loans to developers and owners of multifamily housing, affordable housing, senior housing, and healthcare facilities. In addition, the company acts as an intermediary in the placement of commercial real estate debt between institutional sources of capital, including life insurance companies, investment banks, commercial banks, pension funds, CMBS conduits, and other institutional investors, as well as owners of various types of commercial real estate. Further, it advises on capital structure; develops the financing package; facilitates negotiations between its client and institutional sources of capital; coordinates due diligence; and assists in closing the transaction. Additionally, the company offers property sales brokerage, underwriting and risk management, and servicing and asset management services. Walker & Dunlop, Inc. was founded in 1937 and is headquartered in Bethesda, Maryland.Show more
  • Net Interest Income-$5M
  • Total Revenue$1.23B+9.0%
  • Net Income$57M-47.2%
  • Return on Equity3.26%-47.2%
  • Net Interest Margin-0.11%
  • Efficiency Ratio44.06%+34.1%
  • ROA1.21%-52.9%
  • Equity / Assets34.53%-14.0%
  • Book Value per Share52.35-1.4%
  • Tangible BV/Share22.07+719.3%
  • Debt/Equity1.29+36.7%
Technical→

WD Key Insights

Walker & Dunlop, Inc. (WD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Efficient operations: 44.1% efficiency ratio
  • ✓Well capitalized: 34.5% equity/assets
  • ✓Healthy dividend yield of 5.4%
  • ✓Diversified revenue: 100.0% from non-interest income
  • ✓Trading at only 1.0x book value

✗Weaknesses

  • ✗Profits declining 25.3% over 5 years
  • ✗Weak Piotroski F-Score: 2/9
  • ✗Weak NIM of -0.1%
  • ✗Trading more than 30% below 52-week high

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

WD Price & Volume

Walker & Dunlop, Inc. (WD) stock price & volume — 10-year historical chart

Loading chart...

WD Growth Metrics

Walker & Dunlop, Inc. (WD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.18%
5 Years2.64%
3 Years-0.65%
TTM-

Profit CAGR

10 Years-3.57%
5 Years-25.35%
3 Years-35.61%
TTM-47.32%

EPS CAGR

10 Years-4.69%
5 Years-26.59%
3 Years-36.35%
TTM-47.94%

Return on Capital

10 Years6.89%
5 Years5.17%
3 Years4.22%
Last Year5.95%

WD Recent Earnings

Walker & Dunlop, Inc. (WD) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 1/12 qtrs (8%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.28
Est $1.23
-77.2%
Revenue
$340M
Est $344M
-1.1%
Q4 2025
Nov 6, 2025
EPS
$1.22
Est $1.21
+0.8%
Revenue
$338M
Est $344M
-1.7%
Q3 2025
Aug 7, 2025
EPS
$1.15
Est $1.29
-10.9%
Revenue
$296M
Est $317M
-6.6%
Q2 2025
May 1, 2025
EPS
$0.85
Est $0.69
+23.2%
Revenue
$237M
Est $278M
-14.6%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.28vs $1.23-77.2%
$340Mvs $344M-1.1%
Q4 2025Nov 6, 2025
$1.22vs $1.21+0.8%
$338Mvs $344M-1.7%
Q3 2025Aug 7, 2025
$1.15vs $1.29-10.9%
$296Mvs $317M-6.6%
Q2 2025May 1, 2025
$0.85vs $0.69+23.2%
$237Mvs $278M-14.6%
Based on last 12 quarters of dataView full earnings history →

WD Peer Comparison

Walker & Dunlop, Inc. (WD) competitors in Commercial and multifamily mortgage lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
NMRK logoNMRKNewmark Group, Inc.Direct Competitor3.01B16.3324.0121.86%3.83%7.85%4.73%1.14
JLL logoJLLJones Lang LaSalle IncorporatedDirect Competitor14.76B318.1319.4011.45%3.35%12.14%6.63%0.44
CBRE logoCBRECBRE Group, Inc.Direct Competitor41.79B142.5737.0313.37%3.11%14.27%2.85%1.04
MMI logoMMIMarcus & Millichap, Inc.Direct Competitor1.09B28.67-585.108.49%-0.25%-0.31%5.39%0.13
RC logoRCReady Capital CorporationDirect Competitor323.67M2.00-0.76-92.98%-15.93%-16.58%3.12
BXMT logoBXMTBlackstone Mortgage Trust, Inc.Product Competitor3.23B19.1229.88-13.96%6.75%2.93%8.55%4.61
ACRE logoACREAres Commercial Real Estate CorporationProduct Competitor286.14M5.20-317.07-2.79%-1.6%-0.18%7.46%2.06
TRTX logoTRTXTPG RE Finance Trust, Inc.Product Competitor660.99M8.5515123.25%23.2%5.7%13.67%3.08

Compare WD vs Peers

Walker & Dunlop, Inc. (WD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NMRK

Most directly comparable listed peer for WD.

Scale Benchmark

vs CBRE

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

Peer Set

Compare Top 5

vs NMRK, JLL, CBRE, MMI

WD Income Statement

Walker & Dunlop, Inc. (WD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income-9.74M-10.13M-14.36M-8.55M-7.98M000-5.49M
NII Growth %1.08%-3.95%-41.75%40.46%6.65%100%---
Net Interest Margin %-0.44%-0.36%-0.54%-0.18%-0.15%0%0%0%-0.11%
Interest Income000000000
Interest Expense9.74M10.13M14.36M8.55M7.98M0005.49M
Loan Loss Provision289.28M297.3M346.17M468.82M603.49M641.6M582.77M628.93M471.87M
Non-Interest Income711.86M725.25M817.22M1.08B1.26B1.26B1.05B1.13B1.23B
Non-Interest Income %100%100%100%100%100%100%100%100%100%
Total Revenue
711.86M▲ 0%
725.25M▲ 1.9%
817.22M▲ 12.7%
1.08B▲ 32.6%
1.26B▲ 16.2%
1.26B▼ 0.0%
1.05B▼ 16.2%
1.13B▲ 7.4%
1.23B▲ 9.0%
Revenue Growth %23.74%1.88%12.68%32.61%16.19%-0.03%-16.23%7.4%8.99%
Non-Interest Expense179.17M204.96M226.34M276.07M295.65M352.19M333.48M372.06M543.88M
Efficiency Ratio25.17%28.26%27.7%25.47%23.48%27.98%31.63%32.85%44.06%
Operating Income
233.66M▲ 0%
212.85M▼ 8.9%
230.35M▲ 8.2%
330.27M▲ 43.4%
352.06M▲ 6.6%
264.96M▼ 24.7%
138.2M▼ 47.8%
131.5M▼ 4.8%
213.07M▲ 62.0%
Operating Margin %32.82%29.35%28.19%30.48%27.96%21.05%13.11%11.61%17.26%
Operating Income Growth %25.77%-8.91%8.22%43.38%6.6%-24.74%-47.84%-4.85%62.03%
Pretax Income
233.66M▲ 0%
212.85M▼ 8.9%
230.35M▲ 8.2%
330.27M▲ 43.4%
352.06M▲ 6.6%
264.96M▼ 24.7%
138.2M▼ 47.8%
131.5M▼ 4.8%
79M▼ 39.9%
Pretax Margin %32.82%29.35%28.19%30.48%27.96%21.05%13.11%11.61%6.4%
Income Tax21.83M51.91M57.12M84.31M86.43M56.03M35.03M30.54M22.01M
Effective Tax Rate %9.34%24.39%24.8%25.53%24.55%21.15%25.34%23.23%27.87%
Net Income
211.13M▲ 0%
161.44M▼ 23.5%
173.37M▲ 7.4%
246.18M▲ 42.0%
265.76M▲ 8.0%
213.82M▼ 19.5%
107.36M▼ 49.8%
108.17M▲ 0.8%
57.08M▼ 47.2%
Net Margin %29.66%22.26%21.21%22.72%21.11%16.99%10.18%9.55%4.62%
Net Income Growth %85.37%-23.53%7.39%41.99%7.96%-19.54%-49.79%0.75%-47.23%
Net Income (Continuing)211.83M160.94M173.23M245.95M265.63M208.93M103.17M100.96M56.98M
EPS (Diluted)
6.56▲ 0%
5.04▼ 23.2%
5.45▲ 8.1%
7.69▲ 41.1%
8.15▲ 6.0%
6.36▼ 22.0%
3.18▼ 50.0%
3.19▲ 0.3%
1.64▼ 48.6%
EPS Growth %79.73%-23.17%8.13%41.1%5.98%-21.96%-50%0.31%-48.59%
EPS (Basic)7.035.155.617.858.276.433.203.191.69
Diluted Shares Outstanding32.2M32.04M30.82M31.08M31.53M32.69M32.88M33.16M33.37M

WD Balance Sheet

Walker & Dunlop, Inc. (WD) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments191.22M90.06M120.69M321.1M305.63M225.95M328.7M279.27M299.31M
Cash & Due from Banks191.22M90.06M120.69M321.1M305.63M225.95M328.7M279.27M299.31M
Short Term Investments000000000
Total Investments0000164.86M198.85M215.38M207.24M241.4M
Investments Growth %-----20.61%8.31%-3.78%16.48%
Long-Term Investments0000164.86M198.85M215.38M207.24M241.4M
Accounts Receivables0052.15M65.73M212.02M202.25M233.56M335.88M0
Goodwill & Intangibles759.3M847.24M901.76M1.11B1.84B2.13B1.99B1.88B1.01B
Goodwill124.54M177.09M180.42M248.96M698.63M959.71M901.71M868.71M868.71M
Intangible Assets634.76M670.15M721.33M864.69M1.14B1.17B1.09B1.01B141.88M
PP&E (Net)000097.57M94.76M119.19M128.48M0
Other Assets-2.13B-2.71B139.59M184.22M231.23M319.84M234.07M428.95M0
Total Current Assets1.36B1.85B1.63B3.35B2.88B1.3B1.49B1.74B718.67M
Total Non-Current Assets852.64M930.85M1.04B1.3B2.33B2.75B2.56B2.64B1.25B
Total Assets
2.21B▲ 0%
2.78B▲ 25.9%
2.68B▼ 3.8%
4.65B▲ 73.9%
5.21B▲ 11.9%
4.05B▼ 22.3%
4.05B▲ 0.2%
4.38B▲ 8.1%
5.06B▲ 15.5%
Asset Growth %-27.65%25.89%-3.77%73.86%11.93%-22.29%0.17%8.13%15.46%
Return on Assets (ROA)8.03%6.47%6.36%6.72%5.39%4.62%2.65%2.56%1.21%
Accounts Payable130.48M187.41M0000000
Total Debt1.1B1.46B1.2B2.81B2.71B1.32B1.47B1.66B2.25B
Net Debt910.41M1.37B1.08B2.49B2.41B1.1B1.14B1.38B1.95B
Long-Term Debt1.1B296.01M1.2B2.81B2.68B1.24B1.37B1.55B0
Short-Term Debt01.16B0000002.25B
Other Liabilities-67.7M1.43B270.02M431.41M565.47M563.44M476.41M692.96M827.13M
Total Current Liabilities245M331.34M8M14.47M125.81M200.35M113.55M30.54M2.25B
Total Non-Current Liabilities1.15B1.54B1.62B3.44B3.5B2.13B2.19B2.59B1.06B
Total Liabilities1.39B1.87B1.63B3.45B3.63B2.33B2.31B2.62B3.31B
Total Equity
814.98M▲ 0%
907.19M▲ 11.3%
1.04B▲ 14.9%
1.2B▲ 14.8%
1.58B▲ 31.9%
1.72B▲ 8.8%
1.75B▲ 1.7%
1.76B▲ 0.8%
1.75B▼ 0.7%
Equity Growth %32.5%11.31%14.89%14.77%31.93%8.78%1.71%0.79%-0.74%
Equity / Assets (Capital Ratio)36.9%32.63%38.96%25.72%30.32%42.44%43.09%40.16%34.53%
Return on Equity (ROE)29.53%18.75%17.79%21.99%19.16%12.98%6.2%6.17%3.26%
Book Value per Share25.3128.3133.8238.4850.0552.5253.1153.0852.35
Tangible BV per Share1.731.874.562.66-8.19-12.75-7.45-3.5622.07
Common Stock300K295K300K307K320K323K329K332K334K
Additional Paid-in Capital229.08M235.15M237.88M241M393.02M412.64M425.49M429M0
Retained Earnings579.94M666.75M796.77M952.94M1.15B1.28B1.3B1.32B1.28B
Accumulated OCI814.98M-75K737K1.97M2.56M-1.57M-479K586K1.88M
Treasury Stock000000000
Preferred Stock579.94M666.75M0000000

WD Cash Flow Statement

Walker & Dunlop, Inc. (WD) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations1.07B64.08M427.56M-1.41B870.46M1.58B-518K129.36M-664.31M
Operating CF Growth %40.58%-94%567.27%-430.1%161.67%81.82%-100.03%25072.78%-613.54%
Net Income211.83M160.94M173.23M245.95M265.63M208.93M103.17M100.96M-13.9M
Depreciation & Amortization131.25M142.13M152.47M169.01M210.28M235.03M226.75M237.55M238.68M
Deferred Taxes-30.96M17.48M22.01M47.16M34.22M18.44M1.2M-2.5M-5.83M
Other Non-Cash Items734.84M-268.97M88.73M-1.96B352.2M1.13B-336.19M-175.67M-892.91M
Working Capital Changes-451K-11.48M-32.96M60.8M-28.47M-41.08M-23.3M-58.3M-17.1M
Cash from Investing97.17M-552.24M-79.7M115.18M-377.55M-133.78M126.87M-38.13M-77.34M
Purchase of Investments-190.88M-696.33M-393.54M-224.04M0000-71.37M
Sale/Maturity of Investments119.75M82.82M00000026.62M
Net Investment Activity-71.13M-613.51M-393.54M-224.04M0000-44.75M
Acquisitions-31.88M-89.36M-65.68M-72.83M-520.72M-140.26M-24.68M00
Other Investing205.39M155.35M384.22M415.03M152.38M28.48M167.75M-25.17M-16.82M
Cash from Financing-1.09B321.83M-331.64M1.52B-457.73M-1.58B6.77M-154.73M758.13M
Dividends Paid0-31.45M-37.27M-45.35M-64.45M-80.14M-84.84M-88.63M-91.8M
Share Repurchases-34.9M-68.83M-30.68M-45.77M-18.87M-42.37M-20.51M-12.38M-10.45M
Stock Issued3.01M8.95M5.51M14.02M5.25M486K3.38M00
Net Stock Activity-31.89M-59.88M-25.16M-31.75M-13.62M-41.88M-17.13M-12.38M-10.45M
Debt Issuance (Net)-1000K1000K-1000K1000K-1000K-1000K1000K101K1000K
Other Financing-3.89M-12.46M-10.98M-16.34M-12.73M-26.58M-31.74M-53.81M-15.17M
Net Change in Cash
75.32M▲ 0%
-166.33M▼ 320.8%
16.22M▲ 109.8%
221.44M▲ 1265.4%
35.18M▼ 84.1%
-134.9M▼ 483.5%
133.12M▲ 198.7%
-63.51M▼ 147.7%
16.48M▲ 125.9%
Exchange Rate Effect000000000
Cash at Beginning211.36M286.68M120.35M136.57M358M393.18M258.28M391.4M327.9M
Cash at End286.68M120.35M136.57M358M393.18M258.28M391.4M327.9M344.38M
Interest Paid56.27M56.43M63.56M45.94M37.95M76.66M114.09M105.41M0
Income Taxes Paid45.52M45.73M39.91M29.71M43.43M58.52M30.9M32.34M0
Free Cash Flow
1.06B▲ 0%
59.35M▼ 94.4%
422.85M▲ 612.4%
-1.41B▼ 434.5%
861.25M▲ 160.9%
1.56B▲ 81.2%
-16.72M▼ 101.1%
116.4M▲ 796.2%
-680.08M▼ 684.3%
FCF Growth %40.35%-94.41%612.42%-434.48%160.89%81.22%-101.07%796.2%-684.27%

WD Banking Ratios

Walker & Dunlop, Inc. (WD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)20.57%29.53%18.75%17.79%21.99%19.16%12.98%6.2%6.17%3.26%
Return on Assets (ROA)3.47%8.03%6.47%6.36%6.72%5.39%4.62%2.65%2.56%1.21%
Net Interest Margin-0.32%-0.44%-0.36%-0.54%-0.18%-0.15%0%0%0%-0.11%
Efficiency Ratio26.45%25.17%28.26%27.7%25.47%23.48%27.98%31.63%32.85%44.06%
Equity / Assets20.15%36.9%32.63%38.96%25.72%30.32%42.44%43.09%40.16%34.53%
Book Value / Share19.7325.3128.3133.8238.4850.0552.5253.1153.0852.35
NII Growth0.68%1.08%-3.95%-41.75%40.46%6.65%100%---
Dividend Payout--19.48%21.5%18.42%24.25%37.48%79.02%81.94%-

WD SEC Filings & Documents

Walker & Dunlop, Inc. (WD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Mar 10, 2026·SEC

Material company update

Mar 4, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 25, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 6, 2025·SEC

WD Frequently Asked Questions

Walker & Dunlop, Inc. (WD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Walker & Dunlop, Inc. (WD) grew revenue by 9.0% over the past year. This is steady growth.

Yes, Walker & Dunlop, Inc. (WD) is profitable, generating $57.0M in net income for fiscal year 2025 (4.6% net margin).

Dividend & Returns

Yes, Walker & Dunlop, Inc. (WD) pays a dividend with a yield of 5.38%. This makes it attractive for income-focused investors.

Walker & Dunlop, Inc. (WD) has a return on equity (ROE) of 3.3%. This is below average, suggesting room for improvement.

Industry Metrics

Walker & Dunlop, Inc. (WD) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

Walker & Dunlop, Inc. (WD) has an efficiency ratio of 44.1%. This is excellent, indicating strong cost control.

Explore More WD

Walker & Dunlop, Inc. (WD) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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