West Bancorporation (WTBA) Stock Fundamentals, Analysis & Risk Signals

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

West Bancorporation

NasdaqGS•Financial Services•Banks - Regional

$29.20+0.35(0.01%)Pre-market

Market Cap

$500.46M

P/E

13.0x

P/S

4.8x

P/B

1.8x

West Bancorporation, Inc. operates as the bank holding company for West Bank that provides community banking and trust services to individuals and small- to medium-sized businesses in the United States. The company offers deposit services, including checking, savings, and money market accounts, as well as time certificates of deposit. It also provides loan products comprising commercial real estate loans, construction and land development loans, commercial lines of credit, and commercial term loans; and consumer loans, including loans extended to individuals for household, family, and other personal expenditures not secured by real estate, as well as 1-4 family residential mortgages and home equity loans. In addition, the company offers online and mobile banking services; treasury management services, including online and mobile cash management, client-generated automated clearing house transactions, remote deposit capture, lock box and fraud protection services; merchant credit card processing and corporate credit cards; and trust services, such as administration of estates, conservatorships, personal trusts, and agency accounts. West Bancorporation, Inc. was founded in 1893 and is headquartered in West Des Moines, Iowa.

How this company scores

WeakMetricSide Score: 90/100

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 (18/25).

Profitability23/25

Growth24/25

Balance Sheet & Red Flags18/25

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 · 13.0x5y range 7.0x – 15.2x

Currently near its 20-quarter median.

P/S · 4.8x5y range 3.1x – 4.9x

Currently near its 20-quarter median.

P/B · 1.8x5y range 1.3x – 2.0x

Price & Volume

Market Cap $500.46M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $103.37M
Q. Revenue: $28.12M
TTM EBITDA: $55.75M
TTM Op. Income: $48.86M
Q. Op. Income: $14.35M
TTM Net Income: $38.38M
Q. Net Income: $11.07M
EPS: $0.65
Shares Out.: $17.04M

$103.37M in TTM revenue grew 17.3% YoY, reaching $28.12M last quarter. TTM EBITDA of $55.75M and TTM operating income of $48.86M show growth is flowing through to the bottom line. TTM net income of $38.38M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 18.4%
EBITDA Margin: 55.2%
Op. Margin: 51.0%
Net Margin: 39.4%

Op. margin of 51.0% is up 7.6% YoY — cost efficiency is improving. Net margin at 39.4% and gross margin of 18.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: 13.0x
P/S Ratio: 4.8x
P/B Ratio: 1.8x

At 13.0x P/E, the stock trades below typical market levels. P/S of 4.8x and P/B of 1.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is up 13% — a weakening trend.

Assets & Liabilities

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

Total Assets: $4.03B
Cash: $433.70M
Long-Term Debt: $104.04M
Book Value: $281.04M
D/E Ratio: 0.4
Debt/EBITDA: 6.7

With $4.03B in assets and $104.04M in long-term debt, D/E is 0.4and book value is $281.04M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

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

Op. Cash Flow: $14.37M
TTM Free Cash Flow: $48.59M
FCF Margin: 47.0%
FCF / Net Income: 1.3

TTM FCF of $48.59M on $14.37M in operating cash flow. The FCF / Net Income ratio of 1.3x 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.