Recent News
On April 16, 2026 the company posted investor materials and made its annual meeting playback accessible to shareholders; the investor release also summarized community development lending and charitable grant activity.
On May 12, 2026 the company declared a quarterly cash dividend of $0.27 per share, payable in early June.
Coverage following the April investor release highlighted a Federal Reserve proposed capital rule change that market commentary estimates could add roughly $400 million to regulatory capital if adopted.
Technical Analysis
ADX stands at 40.33, indicating very strong trend strength; that strength amplifies the immediate price momentum relative to the stock’s fair-valued appraisal.
Directional indicators show DI+ at 31.02 with a dip-and-reversal, signaling a bullish directional shift; DI- at 12.86 shows a peak-and-reversal, indicating falling selling pressure. Together these directional moves support the near-term price bias implied by the ADX reading.
MACD reads 0.68 with the MACD above its signal line (signal 0.56) and a dip-and-reversal trend, a bullish momentum configuration; the MACD crossing above the signal line confirms positive short-term momentum.
MRO stands at 28.84 and sits positive, which indicates the market price sits above the modeled target and introduces a headwind for further upside; the MRO’s dip-and-reversal trend suggests that the indicator recently moved toward reducing that overextension.
RSI sits at 61.06 with a dip-and-reversal trend, consistent with above-average bullish posture without clear overbought extremes. Price sits above the 12‑day EMA (12‑day EMA $37.04) and above the 20/50/200-day averages ($36.86, $35.53, $32.14 respectively), with the 12‑day EMA rising; Bollinger upper 1× std dev at $37.63 places the close ($37.95) just above that band while remaining below the 2× upper band, and traded volume exceeds recent averages—these elements together favor continuation but raise the risk of a short-term pullback from an extended level.
Fundamental Analysis
Reported EPS came in at $0.82 versus an estimate of $0.75, an EPS surprise of +9.33% for the quarter ended March 31, 2026 (report date April 16, 2026). Net income for the period measured $65,548,000 and total revenue registered $197,663,000.
Top‑line momentum shows a QoQ revenue change of +152.98% and a YoY revenue change of −55.52%; earnings growth registers QoQ +123.97% but YoY −54.18%. These contrasting quarter-to-quarter and year-over-year moves reflect sizable period-to-period base effects and require watching for normalization in coming quarters.
Profitability metrics show return on equity at 2.445% and return on assets at 0.239%. Return on equity sits slightly above the industry peer mean of 1.847% and just above the industry peer median of 2.427%, while return on assets remains marginally below the industry peer mean of 0.271%. These outcomes align with modest but positive shareholder returns relative to regional thrift peers.
Leverage shows debt-to-assets at 11.297%—above the industry peer mean of 9.694%—and debt-to-equity at 116.16% versus an industry peer mean of 82.789%, indicating higher leverage than the peer average. Tangible book value per share stands at $36.30 (book value $36.30 per share) and asset-to-equity is 10.282x.
Valuation metrics sit mixed: P/E at 38.96 marginally exceeds the industry peer mean of 38.81; price-to-book at 0.88 sits below the industry peer mean of 1.10 and well inside the industry peer range (low 0.49, high 2.09); PEG ratio at 4.17 falls below the industry peer mean of 5.84. Free cash flow yield registers 2.88%, slightly below the industry peer mean of 3.16%. Dividend yield runs about 1.01% with a dividend payout ratio near 36.33% and dividend coverage of 2.75x. WMDST values the stock as fair-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-16 |
| NEXT REPORT DATE: | 2026-07-16 |
| CASH FLOW | Begin Period Cash Flow | $ 734.9 M |
| Operating Cash Flow | $ 79.4 M | |
| Capital Expenditures | $ -11.41 M | |
| Change In Working Capital | $ -2.15 M | |
| Dividends Paid | $ -23.81 M | |
| Cash Flow Delta | $ -65.12 M | |
| End Period Cash Flow | $ 669.8 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 197.7 M | |
| Forward Revenue | $ 47.4 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 8.6 M | |
| Depreciation and Amortization | $ 8.6 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 324.7 M | |
| Interest Expense | $ 147.2 M | |
| Net Interest Income | $ 177.6 M | |
| Income Before Tax | $ 83.8 M | |
| Tax Provision | $ 18.3 M | |
| Tax Rate | 21.79 % | |
| Net Income | $ 65.5 M | |
| Net Income From Continuing Operations | $ 65.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.75 | |
| EPS Actual | $ 0.82 | |
| EPS Difference | $ 0.07 | |
| EPS Surprise | 9.333 % | |
| Forward EPS | $ 0.85 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 27.6 B | |
| Intangible Assets | $ 445.5 M | |
| Net Tangible Assets | $ 2.5 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 669.8 M | |
| Net Receivables | $ 98.9 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | $ 2.4 B | |
| Total Debt | $ 3.1 B | |
| Total Liabilities | $ 24.6 B | |
| EQUITY | ||
| Total Equity | $ 2.7 B | |
| Retained Earnings | $ 2.2 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 36.30 | |
| Shares Outstanding | 73.856 M | |
| Revenue Per-Share | $ 2.68 | |
| VALUATION | Market Capitalization | $ 2.4 B |
| Enterprise Value | $ 5.5 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 27.695 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 10.282 | |
| Asset To Liability | 1.121 | |
| Debt To Capital | 0.537 | |
| Debt To Assets | 0.113 | |
| Debt To Assets QoQ | 23.871 % | |
| Debt To Assets YoY | 10.94 % | |
| Debt To Assets IPRWA | high: 0.311 WAFD: 0.113 median: 0.099 mean: 0.097 low: 0.008 |
|
| Debt To Equity | 1.162 | |
| Debt To Equity QoQ | 27.409 % | |
| Debt To Equity YoY | 12.763 % | |
| Debt To Equity IPRWA | high: 2.929 WAFD: 1.162 mean: 0.828 median: 0.344 low: 0.07 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.88 | |
| Price To Book QoQ | -1.36 % | |
| Price To Book YoY | 2.674 % | |
| Price To Book IPRWA | high: 2.091 mean: 1.099 median: 0.998 WAFD: 0.88 low: 0.488 |
|
| Price To Earnings (P/E) | 38.964 | |
| Price To Earnings QoQ | -8.26 % | |
| Price To Earnings YoY | -12.677 % | |
| Price To Earnings IPRWA | high: 82.962 WAFD: 38.964 mean: 38.81 median: 36.548 low: 25.695 |
|
| PE/G Ratio | 4.175 | |
| Price To Sales (P/S) | 11.938 | |
| Price To Sales QoQ | -6.109 % | |
| Price To Sales YoY | -8.465 % | |
| Price To Sales IPRWA | high: 27.157 WAFD: 11.938 mean: 11.317 median: 10.782 low: 2.493 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 37.621 | |
| Forward PE/G | 4.031 | |
| Forward P/S | 49.388 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.007 | |
| Asset Turnover Ratio QoQ | 1.549 % | |
| Asset Turnover Ratio YoY | 11.094 % | |
| Asset Turnover Ratio IPRWA | high: 0.017 mean: 0.01 median: 0.01 WAFD: 0.007 low: 0.001 |
|
| Receivables Turnover | 2.012 | |
| Receivables Turnover Ratio QoQ | 3.066 % | |
| Receivables Turnover Ratio YoY | 14.778 % | |
| Receivables Turnover Ratio IPRWA | high: 3.934 median: 2.178 mean: 2.106 WAFD: 2.012 low: 0.48 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 45.358 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.058 | |
| CapEx To Depreciation | -1.329 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 6.1 B | |
| Net Invested Capital | $ 5.8 B | |
| Invested Capital | $ 5.8 B | |
| Net Tangible Assets | $ 2.5 B | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 5.485 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 2.752 | |
| Dividend Payout Ratio | 0.363 | |
| Dividend Rate | $ 0.32 | |
| Dividend Yield | 0.01 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.037 % | |
| Revenue Growth | 2.082 % | |
| Revenue Growth QoQ | 152.977 % | |
| Revenue Growth YoY | -55.522 % | |
| Revenue Growth IPRWA | high: 17.724 % WAFD: 2.082 % mean: 0.956 % median: -0.025 % low: -18.037 % |
|
| Earnings Growth | 9.333 % | |
| Earnings Growth QoQ | 123.974 % | |
| Earnings Growth YoY | -54.183 % | |
| Earnings Growth IPRWA | high: 16.667 % WAFD: 9.333 % median: 1.835 % mean: 1.43 % low: -54.688 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 68.0 M | |
| Free Cash Flow Yield | 2.88 % | |
| Free Cash Flow Yield QoQ | 40.146 % | |
| Free Cash Flow Yield YoY | 1.301 % | |
| Free Cash Flow Yield IPRWA | high: 11.345 % median: 3.439 % mean: 3.161 % WAFD: 2.88 % low: -3.242 % |
|
| Free Cash Growth | 35.83 % | |
| Free Cash Growth QoQ | 268.432 % | |
| Free Cash Growth YoY | -34.732 % | |
| Free Cash Growth IPRWA | high: 223.01 % WAFD: 35.83 % median: -56.573 % mean: -83.277 % low: -365.339 % |
|
| Free Cash To Net Income | 1.037 | |
| Cash Flow Margin | 36.894 % | |
| Cash Flow To Earnings | 1.113 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.239 % | |
| Return On Assets QoQ | 0.42 % | |
| Return On Assets YoY | 17.734 % | |
| Return On Assets IPRWA | high: 0.624 % mean: 0.271 % median: 0.264 % WAFD: 0.239 % low: -0.155 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.024 | |
| Return On Equity QoQ | 3.954 % | |
| Return On Equity YoY | 18.747 % | |
| Return On Equity IPRWA | high: 0.045 WAFD: 0.024 median: 0.024 mean: 0.018 low: -0.037 |
|
| DuPont ROE | 2.424 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |