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WaFd, Inc.

WaFd, Inc.

NASDAQ•WAFD
CEO: Mr. Brent J. Beardall CPA
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 1982-11-09
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 dwellings, 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. 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.
Contact Information
425 Pike Street, Seattle, WA, 98101, United States
206-624-7930
www.wafdbank.com
Market Cap
$2.49B
P/E (TTM)
10.3
14.9
Dividend Yield
3.3%
52W High
$33.92
52W Low
$23.75
52W Range
87%
Rank41Top 44.9%
4.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$342.91M-5.08%
4-Quarter Trend

EPS

$0.79+46.30%
4-Quarter Trend

FCF

$0.00+0.00%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Net Income Increased 13% Net income rose 13.0% year-over-year to $226.07M, driven by lower credit loss provisions and Merger cost reductions.
Strategic Mortgage Exit Complete The Bank completed its strategic shift, exiting the consumer single-family mortgage lending market in January 2025.
Strong Capital Ratios Maintained Bank capital remains robust; Common Equity Tier 1 ratio stood at 13.40%, well above regulatory minimums.
Provision for Credit Losses Drops Provision for credit losses decreased significantly to $7.75M in 2025, down from $17.50M recorded in the prior year.

Risk Factors

Non-Performing Assets Surged Non-performing assets increased 84.7% to $143.02M (0.54% of assets), primarily due to one large commercial real estate loan.
Net Interest Margin Compressed Net Interest Margin fell to 2.58% from 2.69% as asset yields declined faster than the cost of interest-bearing liabilities.
Mortgage Business Revenue Loss Uncertainty exists regarding the ability to fully offset lost revenue and customer relationships from exiting single-family lending.
Evolving Cyber and Fraud Threats The Company faces heightened risk from sophisticated cyber-attacks and fraud, requiring continuous, costly technology enhancements.

Outlook

Commercial Lending Focus Management is focused on commercial lending growth, including SBA loans, as commercial originations comprised 83.1% of total.
CRA Rating Limits Expansion The Bank's 'Needs to Improve' CRA rating may restrict expansionary activities like mergers and new branch establishment.
Economic Uncertainty Persists Global trade tensions, inflation risks, and unpredictable political environments could adversely affect borrower credit quality.
Technology Investment Continues Ongoing investment in technology is planned to improve operating efficiency and enhance customer experience across digital channels.

Peer Comparison

Revenue (TTM)

Western Alliance BancorporationWAL
$5.31B
+4.5%
Customers Bancorp, Inc.CUBI
$1.41B
+3.9%
WaFd, Inc.WAFD
$1.39B
-6.7%

Gross Margin (Latest Quarter)

Banner CorporationBANR
76.1%
+3.6pp
Trustmark CorporationTRMK
72.6%
+8.7pp
Bank of Hawaii CorporationBOH
69.8%
+9.3pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
WAL$9.81B10.013.3%0.0%
FFBC$3.00B10.79.8%5.6%
BOH$2.98B14.411.6%0.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.1%
Flat Growth
4Q Net Income CAGR
4.5%
Profitability Slowly Improving
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Apr 9, 2026
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EPS:-
|
Revenue:-
Reports
All Years

  • Form 10-K - FY 2025

    Period End: Sep 30, 2025|Filed: Nov 18, 2025|
    Revenue: $1.41B-1.6%
    |
    EPS: $2.64+5.6%
    Beat

  • Form 10-Q - Q3 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $349.99M-14.4%
    |
    EPS: $0.73-2.7%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Mar 31, 2025|Filed: May 2, 2025|
    Revenue: $354.70M+7.2%
    |
    EPS: $0.65+282.4%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Dec 31, 2024|Filed: Feb 4, 2025|
    Revenue: $361.25M+19.3%
    |
    EPS: $0.54-36.5%
    Miss

  • Form 10-K - FY 2024

    Period End: Sep 30, 2024|Filed: Nov 20, 2024|
    Revenue: $1.43B+30.8%
    |
    EPS: $2.50-32.8%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Jun 30, 2024|Filed: Aug 2, 2024|
    Revenue: $409.07M+42.5%
    |
    EPS: $0.75-15.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Mar 31, 2024|Filed: May 3, 2024|
    Revenue: $330.90M+24.8%
    |
    EPS: $0.17-82.1%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Dec 31, 2023|Filed: Jan 31, 2024|
    Revenue: $302.84M+22.4%
    |
    EPS: $0.85-26.7%
    Beat