Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.8%, FCF Yield is 8.0%
Trading close to highs
Dist 52W High is -1.5%
Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -0.5%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -56%
Weak multi-year price returns
2Y Excs Rtn is -36%, 3Y Excs Rtn is -72%
Key risks
WAFD key risks include [1] heightened credit risk from its concentration in commercial real estate (CRE) loans as borrowers experience financial stress, Show more.
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%
  
3 Low stock price volatility
Vol 12M is 29%
  
4 Capital ratio is >2x the minimum of 6%
Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 17%
  
5 Uninsured deposits are low
Uninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 12%
  
6 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments.
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.3%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 7.8%, FCF Yield is 8.0%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -56%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 33%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%
3 Low stock price volatility
Vol 12M is 29%
4 Capital ratio is >2x the minimum of 6%
Tier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 17%
5 Uninsured deposits are low
Uninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 12%
6 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments.
7 Trading close to highs
Dist 52W High is -1.5%
8 Weak multi-year price returns
2Y Excs Rtn is -36%, 3Y Excs Rtn is -72%
9 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -0.5%
10 Key risks
WAFD key risks include [1] heightened credit risk from its concentration in commercial real estate (CRE) loans as borrowers experience financial stress, Show more.

Valuation, Metrics & Events

WAFD Stock


Why The Stock Moved


Qualitative Assessment

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The search results provide information about WaFd (WAFD) for fiscal year 2025, including Q3 and Q4 results. The fiscal year for WaFd ended September 30, 2025. There are also articles discussing stock predictions and price movements within the requested timeframe (August 31, 2025, to December 28, 2025).

Specifically, one article mentions a 6.93% increase over the past year and an impressive 21.81% gain over the past six months, with the stock hitting a 52-week high at $33.78 USD on December 18, 2025. Another source notes that WaFd (WAFD) has quietly outperformed many regional peers over the past month, with the stock up about 8%, as of December 5, 2025.

The information also includes details about WaFd's financial performance in fiscal 2025, which ended September 30, 2025. Key points from the fiscal year and Q4 2025 results include:

  • Net income for fiscal 2025 was $226 million, a 13% increase from fiscal year 2024.
  • Diluted earnings per common share for fiscal 2025 were $2.63, a 5.20% increase from fiscal 2024.
  • The company is shifting its business strategy from primarily mortgage lending to providing broader business solutions, with a significant increase in loan originations (103% increase over Q3) and an improving deposit mix, specifically checking accounts increasing from 33% to 35% of deposits over the year.
  • Net interest margin (NIM) increased to 2.71% in the fourth fiscal quarter of 2025, up from 2.69% in Q3, driven by decreasing cost of deposits and borrowings.
  • Despite positive overall fiscal year results, Q4 2025 earnings of $0.72 per share missed the Zacks Consensus Estimate of $0.75 per share, and revenue of $188.3 million missed the Zacks Consensus Estimate of $191.04 million.

Based on this, I can extract key points for the stock movement. The prompt asks to highlight "why the stock moved by 6.1%". While a 6.1% specific movement isn't tied to a single event, the overall positive sentiment and growth mentioned could contribute to such a gain, especially the reported 8% increase in the past month as of early December and 6.93% over the past year.

I will formulate 5 key points based on these findings, excluding insider trading and applying the requested HTML formatting.

<br><br><b>1. WaFd reported strong fiscal year 2025 results, with net income increasing by 13% to $226 million and diluted earnings per common share rising by 5.20% to $2.63.</b><br><br><b>2. The company's strategic shift from mortgage lending to broader business solutions demonstrated positive early results, including a 103% increase in new loan originations over the third quarter.</b><br><br><b>3. WaFd experienced an improving net interest margin, which increased to 2.71% in the fourth fiscal quarter of 2025, driven by a reduction in interest paid on liabilities.</b><br><br><b>4. The stock showed strong market performance in late 2025, with an approximate 8% increase over the month leading up to December 5, 2025, and hitting a 52-week high of $33.78 USD on December 18, 2025, reflecting investor confidence.</b><br><br><b>5. Improvements in deposit mix, specifically an increase in checking accounts from 33% to 35% of deposits over the year, also contributed to a healthier financial position.</b>

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Stock Movement Drivers

Fundamental Drivers

The 7.7% change in WAFD stock from 9/27/2025 to 12/27/2025 was primarily driven by a 6.1% change in the company's P/E Multiple.
927202512272025Change
Stock Price ($)30.7033.077.74%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)725.85724.86-0.14%
Net Income Margin (%)31.22%31.19%-0.10%
P/E Multiple10.8211.486.11%
Shares Outstanding (Mil)79.8978.491.75%
Cumulative Contribution7.70%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025
ReturnCorrelation
WAFD7.7% 
Market (SPY)4.3%11.9%
Sector (XLF)3.3%50.7%

Fundamental Drivers

The 14.8% change in WAFD stock from 6/28/2025 to 12/27/2025 was primarily driven by a 12.7% change in the company's P/E Multiple.
628202512272025Change
Stock Price ($)28.8133.0714.78%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)734.08724.86-1.26%
Net Income Margin (%)31.23%31.19%-0.12%
P/E Multiple10.1911.4812.69%
Shares Outstanding (Mil)81.0678.493.17%
Cumulative Contribution14.66%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025
ReturnCorrelation
WAFD14.8% 
Market (SPY)12.6%27.0%
Sector (XLF)7.4%55.0%

Fundamental Drivers

The 5.1% change in WAFD stock from 12/27/2024 to 12/27/2025 was primarily driven by a 12.5% change in the company's Net Income Margin (%).
1227202412272025Change
Stock Price ($)31.4633.075.13%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)721.83724.860.42%
Net Income Margin (%)27.71%31.19%12.54%
P/E Multiple12.7811.48-10.15%
Shares Outstanding (Mil)81.2678.493.41%
Cumulative Contribution5.00%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025
ReturnCorrelation
WAFD5.1% 
Market (SPY)17.0%54.1%
Sector (XLF)15.3%65.1%

Fundamental Drivers

The 8.4% change in WAFD stock from 12/28/2022 to 12/27/2025 was primarily driven by a 36.1% change in the company's P/E Multiple.
1228202212272025Change
Stock Price ($)30.5233.078.36%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)661.61724.869.56%
Net Income Margin (%)35.72%31.19%-12.69%
P/E Multiple8.4411.4836.11%
Shares Outstanding (Mil)65.3378.49-20.15%
Cumulative Contribution3.96%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025
ReturnCorrelation
WAFD5.8% 
Market (SPY)48.0%48.1%
Sector (XLF)51.3%66.4%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
WAFD Return-27%33%3%2%1%6%10%
Peers Return16%38%-12%21%26%16%150%
S&P 500 Return16%27%-19%24%23%18%114%

Monthly Win Rates [3]
WAFD Win Rate50%83%42%42%50%50% 
Peers Win Rate52%65%42%68%57%52% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
WAFD Max Drawdown-44%-1%-9%-26%-19%-23% 
Peers Max Drawdown-34%-5%-26%-7%-9%-23% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique KeyEventWAFDS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-38.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven61.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-44.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven81.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven477 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-33.3%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven49.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven262 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-63.3%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven172.5%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven2,786 days1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

WaFd's stock fell -38.1% during the 2022 Inflation Shock from a high on 11/10/2022. A -38.1% loss requires a 61.4% gain to breakeven.

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About WaFd (WAFD)

Washington Federal, Inc. operates as the bank holding company for Washington Federal Bank, National Association that provides lending, depository, insurance, and other banking services in the United States. The company offers deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts. It also provides single-family residential, construction, land acquisition and development, consumer lot, multi-family residential, commercial and industrial, commercial real estate, home equity, business and consumer loans. In addition, the company offers insurance brokerage services, such as individual and business insurance policies; holds and markets real estate properties; mobile and internet banking services; 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. As of September 30, 2021, the company had 219 branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico, and Texas. Washington Federal, Inc. was founded in 1917 and is headquartered in Seattle, Washington.

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  • A regional version of Bank of America.
  • Like Wells Fargo, but concentrated in the Western U.S.

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  • Deposit Accounts: Offering various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
  • Residential Mortgage Loans: Providing financing for the purchase or refinancing of homes.
  • Commercial Real Estate Loans: Offering loans for the acquisition, development, and refinancing of commercial properties.
  • Commercial and Industrial Loans: Extending credit to businesses for operating capital, equipment purchases, and other business needs.
  • Consumer Loans: Providing personal loans, auto loans, and other forms of credit to individuals.
  • Business Banking Services: Offering treasury management, merchant services, and other financial solutions tailored for businesses.
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WaFd (WAFD) Major Customers

WaFd Bank, a regional bank holding company, primarily serves a broad base of customers rather than a few specific major corporate clients. Its customer base can be categorized as follows:

WaFd sells primarily to both individuals and businesses, with its services tailored to the following customer categories:

  • Consumers/Individuals

    This category includes general consumers who utilize WaFd's personal banking services such as checking and savings accounts, mortgages, home equity lines of credit, auto loans, and other personal financial products.

  • Small to Medium-sized Businesses (SMBs)

    WaFd provides banking and lending services to a wide range of small and medium-sized businesses across various industries. These services typically include business checking and savings accounts, commercial loans (e.g., lines of credit, term loans), treasury management services, and merchant services.

  • Commercial Real Estate (CRE) Investors and Developers

    A significant portion of WaFd's lending is focused on commercial real estate. This customer category includes individuals, partnerships, and companies (often small to medium-sized entities) involved in the acquisition, development, construction, and refinancing of income-producing properties such as multi-family residential, office, retail, and industrial spaces.

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  • Fiserv (FI)
  • Q2 Holdings (QTWO)
  • Visa (V)
  • Mastercard (MA)

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Brent J. Beardall President & Chief Executive Officer, Vice Chairman

Mr. Beardall joined WaFd Bank in 2001 as Vice President & Controller. He was promoted to Chief Financial Officer in 2003, a position he held for eleven years. He became President in 2016 and assumed the role of Chief Executive Officer on April 1, 2017, becoming the sixth CEO in the bank's history. In January 2022, he was appointed Vice Chairman of the Board. Prior to joining WaFd Bank, he worked as a Manager at Deloitte, starting in 1995. Mr. Beardall holds a Master's degree in Professional Accounting from Brigham Young University and is a Certified Public Accountant. He also completed Stanford University's Executive Program.

Kelli Holz Executive Vice President and Chief Financial Officer

Ms. Holz is a seasoned financial executive with over 35 years of experience in risk management, finance, and accounting. In her role, she leads the bank's finance, human resources, and data governance functions, and provides oversight for WaFd Insurance, a bank subsidiary. She plays a significant role in strategic decision-making and governance processes.

Kim Robison Executive Vice President and Chief Operating Officer

Ms. Robison joined WaFd Bank in 2008 and brings over 35 years of experience to the banking industry. In 2024, she led the operational execution of two significant milestones in U.S. banking history: the largest non-FDIC assisted sale of a CRE portfolio and the fastest bank acquisition close to conversion. She is recognized as the Bank's foremost expert in M&A integration and organizational transformation. Her responsibilities include Information Technology, consumer deposit and treasury operations, consumer and commercial loan operations and servicing, branch physical security, the Bank's ATM and cash recycler fleet, and payment operations.

Cathy Cooper Executive Vice President and Chief Experience Officer

Ms. Cooper serves as an Executive Vice President and is also identified as the Chief Consumer Banker.

Ryan Mauer Executive Vice President and Chief Credit Officer

Mr. Mauer holds the position of Executive Vice President and Chief Credit Officer at WaFd Bank.

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The key risks to WaFd's business are:
  1. Interest Rate Risk: WaFd faces significant risks from fluctuating interest rates, which directly impact its net interest income and overall profitability. Rapid changes in interest rates can negatively affect the balance of its loan and deposit portfolios, potentially reducing asset yields or increasing borrowing costs for customers. The company's market risk profile is further influenced by changes in Federal Reserve policies and global economic conditions. Some borrowers are already experiencing stress due to a substantial increase in floating interest rates, which affects their cash flow.
  2. Technological Adaptation and Cybersecurity Threats: The company identifies the need to continuously adapt to technological changes and enhance its digital offerings to meet evolving customer demands. There is a risk that investments in technology may not yield the anticipated benefits, and new features can become outdated quickly due to the rapid pace of innovation. Furthermore, cybersecurity threats and fraud, including those leveraging AI technologies, pose significant risks to WaFd's operations and reputation.
  3. Credit Risk and Loan Quality: While WaFd has historically maintained a disciplined credit culture and strong loan quality, evidenced by periods of net loan loss recoveries, there are ongoing credit risks. Some borrowers are experiencing financial stress due to higher interest rates, which can pinch their cash flow. Additionally, credit risk associated with commercial real estate (CRE) loans is noted, particularly due to the concentration of principal in these loans. A declining net interest margin also suggests that the loan book is becoming less profitable, indicating potential pressure on future earnings.

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The following clear emerging threats have been identified for WaFd (WAFD):

  • Rise of Digital-Only Banks and Fintech Lenders: Digital-first neobanks and specialized fintech companies are increasingly offering compelling alternatives for both deposits and loans. These competitors leverage technology to provide superior digital experiences, often lower fees, and competitive interest rates, attracting customers who traditionally relied on regional banks like WaFd. This ongoing shift threatens WaFd's ability to acquire and retain customers by disrupting traditional banking service delivery models.
  • Intensified Competition for Deposits: In a dynamic interest rate environment, competition for deposits has significantly intensified. Digital platforms and the ease of online banking make it simple for customers to compare rates and move their funds to institutions offering higher yields, including online-only banks and money market funds. This trend directly pressures WaFd's ability to maintain a stable and low-cost deposit base, which is fundamental to its profitability and lending capacity.

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WaFd Bank (symbol: WAFD) operates primarily as a community bank offering a range of financial products and services, predominantly within the U.S. across nine states: Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, New Mexico, and California.

The addressable markets for its main products and services in the U.S. are as follows:

  • Retail Banking Services (Consumer and Commercial Deposit Accounts): The United States retail banking market is valued at approximately $0.87 trillion in 2025. This market is projected to reach $1.08 trillion by 2030, growing at a compound annual growth rate (CAGR) of 4.22% during 2025-2030.
  • Small Business Lending: The estimated total lending volume to small businesses in the U.S. for 2025 is approximately $760 billion.
  • Commercial Real Estate (CRE) Lending: The total commercial and multifamily mortgage debt outstanding in the U.S. increased to approximately $4.79 trillion in the fourth quarter of 2024.
  • Residential Mortgage Lending: Americans owe an estimated $12.94 trillion on mortgages as of the second quarter of 2025 in the U.S.

Information regarding the specific addressable market size for WaFd's insurance products offered through a subsidiary was not readily available.

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Expected Drivers of Future Revenue Growth for WaFd (WAFD)

Over the next two to three years, WaFd (NASDAQ: WAFD) is positioned for revenue growth driven by several strategic initiatives and market dynamics:
  • Growth in Active Loan Portfolio: WaFd anticipates an 8%-12% growth in its active loan portfolio in fiscal 2026. This expansion in lending activities is a primary driver for increasing net interest income.
  • Strategic Shift to Business Banking: The company is undergoing a strategic transition from its historical focus on mortgage lending towards business banking. This pivot has already resulted in a significant increase in new loan originations and is expected to continue to boost revenue as the business banking segment expands.
  • Expansion into Wealth Management: WaFd has recently launched WaFd Wealth Management, with an ambitious goal to grow assets under management to $1 billion within the initial two years. This diversification into wealth management services aims to generate new streams of non-interest income.
  • Margin Expansion from Future Rate Cuts: The company expects its net interest margin to expand with anticipated future interest rate cuts. This expansion, while potentially occurring with a quarter-long lag for full impact, would improve profitability on its interest-earning assets.
  • Increase in Non-Interest-Bearing Deposits: As part of its "Build 2030" strategic plan, WaFd aims to increase non-interest-bearing deposits to 20% of its total deposits. Achieving this goal would reduce the overall cost of funds, thereby enhancing net interest income and supporting revenue growth.

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Share Repurchases

  • WaFd repurchased 12.7 million shares at a weighted average price of $31.32 over the last three fiscal years (up to March 31, 2024), representing 17% of shares outstanding on October 1, 2020.
  • As of May 2024, the board authorized an additional 10 million shares for repurchase, bringing the total authorized amount to 11.8 million shares.
  • In the third quarter of fiscal year 2025, the company repurchased over 1.66 million shares.

Share Issuance

  • WaFd's basic shares outstanding increased by 26.56% in Q4 2024 and by 15.71% in Q1 2025, aligning with the timing of the Luther Burbank Corporation acquisition in February 2024.

Outbound Investments

  • WaFd acquired Luther Burbank Corporation (LBC) in February 2024, which expanded its presence into the California market.
  • This acquisition is anticipated to be approximately 8% accretive to WaFd's earnings in fiscal year 2025.

Capital Expenditures

  • Annual capital expenditures ranged from $10 million in 2022 to $40 million in 2024.
  • Non-interest expense increased in the fourth quarter of fiscal year 2025, partly due to investments in talent and technology.
  • The company has invested over $125 million in community development lending, including affordable housing initiatives.

Trade Ideas

Select ideas related to WAFD. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
WU_11212025_Dip_Buyer_FCFYield11212025WUWestern UnionDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
14.5%14.5%-0.4%
COIN_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025COINCoinbase GlobalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-1.5%-1.5%-1.5%
PYPL_11142025_Dip_Buyer_FCFYield11142025PYPLPayPalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-4.5%-4.5%-7.5%
V_11142025_Monopoly_xInd_xCD_Getting_Cheaper11142025VVisaMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
7.6%7.6%-2.7%
WD_11072025_Dip_Buyer_ValueBuy11072025WDWalker & DunlopDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-11.1%-11.1%-12.1%

Recent Active Movers

More From Trefis

Peer Comparisons for WaFd

Peers to compare with:

Financials

WAFDHPQHPEIBMCSCOAAPLMedian
NameWaFd HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Price33.0723.2624.49305.0978.16273.4055.61
Mkt Cap2.621.932.6284.9309.24,074.4158.8
Rev LTM72555,29534,29665,40257,696408,62556,496
Op Inc LTM-3,6241,64411,54412,991130,21411,544
FCF LTM2082,80062711,85412,73396,1847,327
FCF 3Y Avg2742,9781,40011,75313,879100,5037,366
CFO LTM2373,6972,91913,48313,744108,5658,590
CFO 3Y Avg2973,6723,89613,49814,736111,5598,697

Growth & Margins

WAFDHPQHPEIBMCSCOAAPLMedian
NameWaFd HP Hewlett .Internat.Cisco Sy.Apple  
Rev Chg LTM0.4%3.2%13.8%4.5%8.9%6.0%5.2%
Rev Chg 3Y Avg3.3%-3.9%6.5%2.6%3.7%1.8%3.0%
Rev Chg Q-0.5%4.2%14.4%9.1%7.5%9.6%8.3%
QoQ Delta Rev Chg LTM-0.1%1.1%3.7%2.1%1.8%2.1%2.0%
Op Mgn LTM-6.6%4.8%17.7%22.5%31.9%17.7%
Op Mgn 3Y Avg-7.4%7.2%16.4%24.2%30.8%16.4%
QoQ Delta Op Mgn LTM--0.2%-1.4%0.6%0.4%0.1%0.1%
CFO/Rev LTM32.7%6.7%8.5%20.6%23.8%26.6%22.2%
CFO/Rev 3Y Avg40.8%6.8%12.7%21.4%26.1%28.4%23.8%
FCF/Rev LTM28.7%5.1%1.8%18.1%22.1%23.5%20.1%
FCF/Rev 3Y Avg37.6%5.5%4.6%18.6%24.6%25.6%21.6%

Valuation

WAFDHPQHPEIBMCSCOAAPLMedian
NameWaFd HP Hewlett .Internat.Cisco Sy.Apple  
Mkt Cap2.621.932.6284.9309.24,074.4158.8
P/S3.60.41.04.45.410.04.0
P/EBIT-6.819.925.122.531.322.5
P/E11.58.6572.736.029.941.033.0
P/CFO11.05.911.221.122.537.516.2
Total Yield12.0%14.1%2.3%5.0%5.4%2.8%5.2%
Dividend Yield3.3%2.5%2.1%2.2%2.1%0.4%2.1%
FCF Yield 3Y Avg11.8%10.6%5.5%6.4%6.0%3.1%6.2%
D/E0.70.50.70.20.10.00.4
Net D/E-0.60.30.60.20.00.00.1

Returns

WAFDHPQHPEIBMCSCOAAPLMedian
NameWaFd HP Hewlett .Internat.Cisco Sy.Apple  
1M Rtn2.5%-1.8%14.4%0.6%2.7%-1.5%1.5%
3M Rtn7.7%-11.9%2.7%7.9%17.0%7.1%7.4%
6M Rtn14.8%-4.0%34.5%6.6%15.2%36.3%15.0%
12M Rtn5.1%-27.0%16.2%40.5%34.5%7.5%11.8%
3Y Rtn8.4%-1.9%71.1%143.1%81.3%120.2%76.2%
1M Excs Rtn-0.6%-5.6%12.9%-2.2%-0.0%-3.7%-1.4%
3M Excs Rtn3.4%-16.2%-1.7%3.6%12.7%2.8%3.1%
6M Excs Rtn2.5%-16.3%22.3%-5.7%3.0%24.0%2.7%
12M Excs Rtn-10.5%-42.9%-0.7%25.0%19.9%-8.4%-4.6%
3Y Excs Rtn-71.8%-83.5%-11.2%59.6%-1.2%28.4%-6.2%

FDIC Bank Data

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment722743662566556
Total722743662566556


Price Behavior

Price Behavior
Market Price$33.07 
Market Cap ($ Bil)2.6 
First Trading Date03/26/1990 
Distance from 52W High-1.5% 
   50 Days200 Days
DMA Price$31.02$29.40
DMA Trendupup
Distance from DMA6.6%12.5%
 3M1YR
Volatility23.8%28.8%
Downside Capture-5.0680.03
Upside Capture31.7572.40
Correlation (SPY)11.7%54.2%
WAFD Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta-0.090.270.300.760.851.06
Up Beta-0.220.861.131.650.760.92
Down Beta-0.100.07-0.000.270.951.00
Up Capture66%37%20%66%63%115%
Bmk +ve Days13263974142427
Stock +ve Days14243364120364
Down Capture-51%7%21%66%98%106%
Bmk -ve Days7162452107323
Stock -ve Days6183060126383

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of WAFD With Other Asset Classes (Last 1Y)
 WAFDSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return5.0%16.3%17.8%72.1%8.6%4.4%-8.2%
Annualized Volatility28.6%19.0%19.4%19.3%15.2%17.0%35.0%
Sharpe Ratio0.170.670.722.700.340.09-0.08
Correlation With Other Assets 65.3%54.2%-2.5%17.2%58.5%12.5%

ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
 Comparison of WAFD With Other Asset Classes (Last 5Y)
 WAFDSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return8.6%16.1%14.7%18.7%11.5%4.6%30.8%
Annualized Volatility30.5%18.9%17.1%15.5%18.7%18.9%48.6%
Sharpe Ratio0.310.710.700.970.500.160.57
Correlation With Other Assets 66.2%50.0%1.0%14.0%52.0%20.6%

ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of WAFD With Other Asset Classes (Last 10Y)
 WAFDSector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return6.3%13.2%14.8%15.3%7.0%5.3%69.2%
Annualized Volatility31.0%22.3%18.0%14.7%17.6%20.8%55.8%
Sharpe Ratio0.270.550.710.860.320.220.90
Correlation With Other Assets 72.6%58.0%-6.7%20.6%53.9%13.4%

ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity2,351,406
Short Interest: % Change Since 11302025-10.5%
Average Daily Volume538,573
Days-to-Cover Short Interest4.37
Basic Shares Quantity78,491,066
Short % of Basic Shares3.0%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
10/29/20250.4%3.3%10.9%
7/18/20250.6%0.0%3.3%
4/15/20252.3%6.4%10.6%
1/21/2025-1.2%0.0%-0.7%
10/18/2024-6.0%-6.7%-0.1%
7/17/2024-1.1%1.6%0.8%
4/23/20241.7%-1.9%3.0%
1/18/2024-0.0%5.0%0.6%
...
SUMMARY STATS   
# Positive151617
# Negative987
Median Positive2.3%3.1%5.0%
Median Negative-1.2%-3.2%-1.5%
Max Positive6.1%13.5%15.9%
Max Negative-6.0%-8.3%-14.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
93020251118202510-K 9/30/2025
6302025805202510-Q 6/30/2025
3312025502202510-Q 3/31/2025
12312024204202510-Q 12/31/2024
93020241120202410-K 9/30/2024
6302024802202410-Q 6/30/2024
3312024503202410-Q 3/31/2024
12312023131202410-Q 12/31/2023
93020231117202310-K 9/30/2023
6302023804202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022203202310-Q 12/31/2022
93020221118202210-K 9/30/2022
6302022729202210-Q 6/30/2022
3312022503202210-Q 3/31/2022
12312021131202210-Q 12/31/2021