Washington Trust Bancorp (WASH) Stock Fundamentals, Analysis & Risk Signals

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

Washington Trust Bancorp

NasdaqGS•Financial Services•Banks - Regional

$40.26+0.51(0.01%)Market closed

Market Cap

$762.37M

P/E

13.8x

P/S

2.0x

P/B

1.4x

Washington Trust Bancorp, Inc. operates as the bank holding company for The Washington Trust Company, of Westerly that provides various banking and financial services to individuals and businesses. The company operates in two segments, Banking and Wealth Management Services. The Banking segment offers deposit accounts, including noninterest-bearing demand deposits, interest-bearing demand deposits, now accounts, money market accounts, savings accounts, and time deposits; various commercial and retail lending products, such as commercial real estate loans, including commercial mortgages, and construction and development loans; commercial and industrial loans comprising working capital, equipment financing, and financing for other business-related purposes; residential real estate loans that consist of mortgage and homeowner construction loans; and consumer loans comprising home equity loans and lines of credit, personal installment loans, and loans to individuals secured by general aviation aircraft. This segment also provides debit cards; automated teller machines (ATMs); telephone banking, internet banking, mobile banking, remote deposit capture, and other cash management services; and investment portfolio and wholesale funding services. The Wealth Management Services segment offers investment management; financial planning; personal trust and estate services, such as trustee, personal representative, custodian, and guardian; and settlement of decedents' estates, as well as institutional trust services comprising custody and fiduciary services for personal and institutional clients. Washington Trust Bancorp, Inc. was founded in 1800 and is headquartered in Westerly, Rhode Island.

How this company scores

WeakMetricSide Score: 85/100

Grade capped at D — Interest coverage below 1× (0.6x) — earnings cannot cover interest. Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (16/25).

Profitability23/25

Growth21/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsRising earnings

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 · 13.8x5y range 8.0x – 13.8x

Currently near its 16-quarter median.

P/S · 2.0x5y range 1.2x – 4.0x

Currently near its 20-quarter median.

P/B · 1.4x5y range 1.0x – 1.9x

Watch items

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

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Share Dilution

Red Flag

Shares outstanding increased 11.8% — significant dilution, likely from stock compensation or capital raises.

Price & Volume

Market Cap $762.37M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $382.04M
Q. Revenue: $93.83M
TTM EBITDA: $74.25M
TTM Op. Income: $70.94M
Q. Op. Income: $20.27M
TTM Net Income: $55.40M
Q. Net Income: $15.98M
EPS: $0.84
Shares Out.: $19.06M

$382.04M in TTM revenue grew 24.9% YoY, reaching $93.83M last quarter. TTM EBITDA of $74.25M and TTM operating income of $70.94M show growth is flowing through to the bottom line. TTM net income of $55.40M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 64.4%
EBITDA Margin: 22.5%
Op. Margin: 21.6%
Net Margin: 17.0%

Op. margin of 21.6% is up 3.7% YoY — cost efficiency is improving. Net margin at 17.0% and gross margin of 64.4% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 21% — an improving trend.

Price Ratios

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

P/E Ratio: 13.8x
P/S Ratio: 2.0x
P/B Ratio: 1.4x

At 13.8x P/E, the stock trades below typical market levels. P/S of 2.0x and P/B of 1.4x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 4 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

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

Total Assets: $6.55B
Cash: $127.39M
Long-Term Debt: $22.68M
Book Value: $553.52M
D/E Ratio: 0.0
Debt/EBITDA: 1.1

With $6.55B in assets and $22.68M in long-term debt, D/E is 0.0and book value is $553.52M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 6 consecutive quarters — an improving trend.

Cash Flow

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

Op. Cash Flow: $23.11M
TTM Free Cash Flow: $95.85M
FCF Margin: 25.1%
FCF / Net Income: 1.7

TTM FCF of $95.85M on $23.11M in operating cash flow. The FCF / Net Income ratio of 1.7x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.