Latest Ratios: P/E Ratio 13.9x · EV/EBITDA 12.9x · ROE 13.2%. (2001–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $451M | $378M | $366M | $355M | $429M | $522M | $319M | $422M | $313M | $411M | $400M |
| Enterprise Value | $533M | $459M | $515M | $882M | $889M | $529M | $463M | $610M | $499M | $519M | $494M |
| P/E Ratio → | 13.88 | 11.56 | 15.25 | 14.72 | 9.26 | 10.53 | 9.75 | 14.73 | 10.97 | 17.84 | 17.39 |
| P/S Ratio | 2.27 | 1.90 | 1.85 | 2.09 | 3.21 | 4.48 | 2.91 | 3.95 | 3.38 | 5.03 | 5.55 |
| P/B Ratio | 1.70 | 1.42 | 1.61 | 1.58 | 2.03 | 2.00 | 1.42 | 1.99 | 1.64 | 2.31 | 2.42 |
| P/FCF | 10.46 | 8.75 | 26.75 | — | 11.26 | 10.62 | 7.98 | 11.76 | 9.07 | 14.52 | 23.02 |
| P/OCF | 9.71 | 8.12 | 9.19 | 14.06 | 7.22 | 9.01 | 7.54 | 11.43 | 9.01 | 13.99 | 13.26 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.31 | 2.60 | 5.20 | 6.65 | 4.54 | 4.24 | 5.70 | 5.39 | 6.35 | 6.86 |
| EV / EBITDA | 12.86 | 11.08 | 14.98 | 25.26 | 13.91 | 7.95 | 10.35 | 14.95 | 12.05 | 12.38 | 12.92 |
| EV / EBIT | 12.86 | 11.08 | 18.76 | 29.62 | 14.96 | 8.40 | 11.20 | 17.07 | 14.23 | 14.24 | 15.00 |
| EV / FCF | — | 10.63 | 37.66 | — | 23.30 | 10.76 | 11.60 | 16.98 | 14.45 | 18.34 | 28.43 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.0% | 48.0% | 39.5% | 45.8% | 78.2% | 90.8% | 73.1% | 69.3% | 75.7% | 84.1% | 87.7% |
| Operating Margin | 20.9% | 20.9% | 13.9% | 17.5% | 44.5% | 54.0% | 37.8% | 33.4% | 37.9% | 44.6% | 45.7% |
| Net Profit Margin | 16.4% | 16.4% | 12.2% | 14.2% | 34.7% | 42.6% | 29.9% | 26.8% | 30.8% | 28.2% | 31.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.2% | 13.2% | 10.6% | 11.1% | 19.7% | 20.5% | 15.0% | 14.2% | 15.4% | 13.4% | 14.5% |
| ROA | 0.8% | 0.8% | 0.6% | 0.6% | 1.3% | 1.5% | 1.2% | 1.2% | 1.3% | 1.2% | 1.3% |
| ROIC | 6.3% | 6.3% | 2.9% | 2.9% | 7.7% | 10.4% | 7.0% | 6.2% | 7.1% | 8.8% | 8.2% |
| ROCE | 6.2% | 6.2% | 4.0% | 5.0% | 12.4% | 14.0% | 9.5% | 9.1% | 11.2% | 12.9% | 11.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.40 | 0.40 | 1.72 | 2.63 | 2.30 | 0.77 | 0.99 | 1.06 | 1.22 | 0.80 | 0.82 |
| Debt / EBITDA | 2.57 | 2.57 | 11.42 | 16.96 | 7.61 | 3.00 | 4.97 | 5.52 | 5.61 | 3.41 | 3.53 |
| Net Debt / Equity | — | 0.31 | 0.65 | 2.34 | 2.18 | 0.03 | 0.65 | 0.89 | 0.97 | 0.61 | 0.57 |
| Net Debt / EBITDA | 1.96 | 1.96 | 4.34 | 15.09 | 7.19 | 0.11 | 3.23 | 4.60 | 4.49 | 2.58 | 2.46 |
| Debt / FCF | — | 1.88 | 10.91 | — | 12.05 | 0.14 | 3.62 | 5.22 | 5.39 | 3.82 | 5.41 |
| Interest Coverage | 0.40 | 0.40 | 0.23 | 0.33 | 1.88 | 5.15 | 2.38 | 1.11 | 1.54 | 2.81 | 4.18 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.14 | 0.14 | 0.24 | 0.22 | 0.22 | 0.32 | 0.19 | 0.22 | 0.26 | 0.26 | 0.20 |
| Quick Ratio | 0.14 | 0.14 | 0.24 | 0.22 | 0.22 | 0.32 | 0.19 | 0.22 | 0.26 | 0.26 | 0.20 |
| Cash Ratio | 0.01 | 0.01 | 0.07 | 0.02 | 0.01 | 0.06 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 |
| Asset Turnover | — | 0.05 | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.7% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 51.9% | 51.9% | 69.9% | 69.2% | 35.8% | 31.3% | 42.2% | 47.3% | 44.5% | 49.8% | 46.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 8.7% | 6.6% | 6.8% | 10.8% | 9.5% | 10.3% | 6.8% | 9.1% | 5.6% | 5.7% |
| FCF Yield | 9.6% | 11.4% | 3.7% | — | 8.9% | 9.4% | 12.5% | 8.5% | 11.0% | 6.9% | 4.3% |
| Buyback Yield | 0.3% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 4.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $17M | $17M | $17M | $17M | $17M | $17M | $16M | $16M | $16M | $16M |
CRE concentration and funding
According to recent market data, WTBA trades at a P/B multiple of 1.73, which appears elevated relative to regional peers like Magyar Bancorp at 0.93, suggesting investors are pricing in a franchise premium that is not currently supported by the bank's modest 3.9% return on equity.
The current valuation implies an expectation of significant future earnings growth or a structural improvement in profitability that has yet to materialize in the quarterly data. Investors should monitor whether this premium is sustainable given the bank's reliance on commercial real estate lending in a high-rate environment.
Based on reported financial statements, the bank's ROE of 3.9% in 2026Q1 reflects a strained profitability profile, where the combination of a thin 0.6% NIM and limited non-interest income contribution suggests that the core business model is struggling to generate meaningful returns on tangible equity.
The decomposition of profitability indicates that the bank's reliance on interest-sensitive commercial loans is currently a headwind rather than a driver of value. Without a significant expansion in fee-based trust services, the bank may continue to face difficulty in improving its return on equity above current levels.
As reported in recent filings, the bank has maintained a disciplined efficiency ratio between 25% and 28% over the last ten quarters, which serves as a critical buffer against the stagnant 0.6% NIM that has persisted throughout the recent interest rate cycle.
While cost control remains a structural strength, the inability to expand the net interest margin suggests that funding costs are effectively neutralizing the yield benefits of the commercial loan portfolio. This dynamic warrants further investigation into the bank's deposit beta and its ability to reprice assets effectively.
Data from quarterly filings indicates that the equity-to-assets ratio has remained consistent at 0.06 to 0.07, providing a stable capital base that supports the bank's current commercial lending strategy while maintaining sufficient buffers against potential credit volatility in its core Midwest markets.
The bank's capital management appears focused on maintaining a steady, conservative leverage profile rather than aggressive expansion. This approach provides a degree of safety, though it may also limit the bank's capacity to significantly accelerate earnings growth in the near term.
Investors frequently misapply the P/E ratio to WTBA, which obscures the underlying earnings volatility caused by the bank's reliance on CECL-driven provisioning and the cyclical nature of its commercial real estate portfolio, making P/TBV a more reliable metric for assessing the bank's true valuation.
Because the P/E ratio is highly sensitive to quarterly fluctuations in loan loss provisions, it often fails to capture the bank's long-term earnings power. Analysts should prioritize P/TBV and PPNR to better understand the franchise's value, as these metrics are less susceptible to the accounting noise inherent in bank provisioning.
Includes 30+ ratios · 25 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying WTBA stock.
West Bancorporation, Inc.'s current P/E ratio is 13.9x. The historical average is 14.4x. This places it at the 46th percentile of its historical range.
West Bancorporation, Inc.'s current EV/EBITDA is 12.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.2x.
West Bancorporation, Inc.'s return on equity (ROE) is 13.2%. The historical average is 14.1%.
Based on historical data, West Bancorporation, Inc. is trading at a P/E of 13.9x. This is at the 46th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
West Bancorporation, Inc.'s current dividend yield is 3.73% with a payout ratio of 51.9%.
West Bancorporation, Inc. has 48.0% gross margin and 20.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
West Bancorporation, Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.