WaFd (WAFD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

WaFd

NasdaqGS•Financial Services•Banks - Regional

$32.79-0.22(-0.01%)Pre-market

Market Cap

$2.39B

P/E

9.3x

P/S

3.1x

P/B

0.8x

WaFd, Inc. operates as the bank holding company for Washington Federal Bank that provides lending, depository, insurance, and other banking services in the United States. The company provides deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts. It offers single-family residential, construction, land acquisition and development, consumer lot, multi-family residential, commercial real estate, home equity, business, and consumer loans, as well as commercial and industrial loans. In addition, the company offers insurance brokerage services, such as individual and business insurance policies; holds and markets real estate properties; and debit and credit cards, as well as acts as the trustee. Additionally, it provides technology and data services; and personalized financial guidance and investment services. It serves consumers, mid-sized and large businesses, and owners and developers of commercial real estate. The company was formerly known as Washington Federal, Inc. and changed its name to WaFd, Inc. in September 2023. WaFd, Inc. was founded in 1917 and is headquartered in Seattle, Washington.

How this company scores

WeakMetricSide Score: 62/100

Grade capped at D — Interest coverage below 1× (0.6x) — earnings cannot cover interest. Strongest: Profitability (21/25); weakest: Balance Sheet & Red Flags (6/25).

Profitability21/25

Growth19/25

Balance Sheet & Red Flags6/25

Cash & Earnings Quality16/25

Strengths

Strong marginsConsistent free cash flowProfit converts from growthConsistent growth

Grade capped at D

Interest coverage below 1× (0.6x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.3x5y range 6.2x – 14.1x

Currently near its 20-quarter median.

P/S · 3.1x5y range 2.2x – 4.1x

Currently near its 20-quarter median.

P/B · 0.8x5y range 0.7x – 1.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Leverage Risk

Watch

Debt-to-equity has risen 66.1% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $2.39B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $782.56M
Q. Revenue: $205.52M
TTM EBITDA: $328.09M
TTM Op. Income: $349.66M
Q. Op. Income: $95.18M
TTM Net Income: $256.47M
Q. Net Income: $66.13M
EPS: $0.85
Shares Out.: $73.90M

$782.56M in TTM revenue grew 7.8% YoY, reaching $205.52M last quarter. TTM EBITDA of $328.09M and TTM operating income of $349.66M show growth is flowing through to the bottom line. TTM net income of $256.47M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 94.6%
EBITDA Margin: 49.3%
Op. Margin: 46.3%
Net Margin: 32.2%

Op. margin of 46.3% is up 2.3% YoY — cost efficiency is improving. Net margin at 32.2% and gross margin of 94.6% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 9.3x
P/S Ratio: 3.1x
P/B Ratio: 0.8x

At 9.3x P/E, the stock trades below typical market levels. P/S of 3.1x and P/B of 0.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 10% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $27.60B
Cash: $676.47M
Long-Term Debt: $3.32B
Book Value: $3.02B
D/E Ratio: 1.1
Debt/EBITDA: 32.8

With $27.60B in assets and $3.32B in long-term debt, D/E is 1.1and book value is $3.02B — moderate leverage. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $70.28M
TTM Free Cash Flow: $226.97M
FCF Margin: 29.0%
FCF / Net Income: 0.9

TTM FCF of $226.97M on $70.28M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.