Walker & Dunlop (WD)
Market Price (1/31/2026): $62.92 | Market Cap: $2.1 BilSector: Financials | Industry: Commercial & Residential Mortgage Finance
Walker & Dunlop (WD)
Market Price (1/31/2026): $62.92Market Cap: $2.1 BilSector: FinancialsIndustry: Commercial & Residential Mortgage Finance
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5% | Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -97% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 130% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.3% | |
| Low stock price volatilityVol 12M is 35% | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -76%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -77% | |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, Smart Buildings & Proptech, and E-commerce Logistics & Data Centers. Themes include Sustainable & Green Buildings, Show more. | Key risksWD key risks include [1] a heavy reliance on government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac for a substantial portion of its loan origination, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -28% |
| Low stock price volatilityVol 12M is 35% |
| Megatrend and thematic driversMegatrends include Sustainable Resource Management, Smart Buildings & Proptech, and E-commerce Logistics & Data Centers. Themes include Sustainable & Green Buildings, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -75%, 3Y Excs Rtn is -97% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 130% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -2.3% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -76%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -77% |
| Key risksWD key risks include [1] a heavy reliance on government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac for a substantial portion of its loan origination, Show more. |
Qualitative Assessment
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1. Negative Market Reaction to Q3 2025 Earnings Despite Strong Performance. Walker & Dunlop's shares experienced a significant drop of 8.74% on November 6, 2025, the day its third-quarter 2025 earnings were released, despite the company reporting robust financial performance that surpassed analyst expectations for both revenue and earnings per share. This indicates that investors may have already factored in positive news or reacted to other underlying concerns, causing a sell-off despite strong reported fundamentals.
2. Adverse Impact of Shifting Loan Terms on Mortgage Servicing Rights (MSRs). A notable factor contributing to investor apprehension was the significant decrease in mortgage servicing rights associated with Walker & Dunlop's Government-Sponsored Enterprise (GSE) business. This reduction stemmed from a market shift from longer 10-year loans to shorter 5-year loan terms. Furthermore, tighter servicing fees, influenced by a higher interest rate environment, led to lower valuations for these non-cash MSRs, directly impacting a key component of the company's valuation and future revenue streams.
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Stock Movement Drivers
Fundamental Drivers
The -24.0% change in WD stock from 9/30/2025 to 1/30/2026 was primarily driven by a -27.0% change in the company's P/E Multiple.| (LTM values as of) | 9302025 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 82.71 | 62.89 | -24.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,190 | 1,236 | 3.8% |
| Net Income Margin (%) | 9.3% | 9.3% | 0.4% |
| P/E Multiple | 25.0 | 18.3 | -27.0% |
| Shares Outstanding (Mil) | 33 | 33 | -0.1% |
| Cumulative Contribution | -24.0% |
Market Drivers
9/30/2025 to 1/30/2026| Return | Correlation | |
|---|---|---|
| WD | -24.0% | |
| Market (SPY) | 3.9% | 28.2% |
| Sector (XLF) | -0.8% | 41.2% |
Fundamental Drivers
The -9.1% change in WD stock from 6/30/2025 to 1/30/2026 was primarily driven by a -21.4% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 69.16 | 62.89 | -9.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,142 | 1,236 | 8.2% |
| Net Income Margin (%) | 8.7% | 9.3% | 7.3% |
| P/E Multiple | 23.2 | 18.3 | -21.4% |
| Shares Outstanding (Mil) | 33 | 33 | -0.3% |
| Cumulative Contribution | -9.1% |
Market Drivers
6/30/2025 to 1/30/2026| Return | Correlation | |
|---|---|---|
| WD | -9.1% | |
| Market (SPY) | 12.3% | 34.0% |
| Sector (XLF) | 2.4% | 37.6% |
Fundamental Drivers
The -32.9% change in WD stock from 12/31/2024 to 1/30/2026 was primarily driven by a -44.3% change in the company's P/E Multiple.| (LTM values as of) | 12312024 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 93.77 | 62.89 | -32.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,065 | 1,236 | 16.0% |
| Net Income Margin (%) | 8.9% | 9.3% | 4.4% |
| P/E Multiple | 32.8 | 18.3 | -44.3% |
| Shares Outstanding (Mil) | 33 | 33 | -0.6% |
| Cumulative Contribution | -32.9% |
Market Drivers
12/31/2024 to 1/30/2026| Return | Correlation | |
|---|---|---|
| WD | -32.9% | |
| Market (SPY) | 19.1% | 50.4% |
| Sector (XLF) | 11.7% | 52.2% |
Fundamental Drivers
The -10.7% change in WD stock from 12/31/2022 to 1/30/2026 was primarily driven by a -49.0% change in the company's Net Income Margin (%).| (LTM values as of) | 12312022 | 1302026 | Change |
|---|---|---|---|
| Stock Price ($) | 70.45 | 62.89 | -10.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,383 | 1,236 | -10.7% |
| Net Income Margin (%) | 18.2% | 9.3% | -49.0% |
| P/E Multiple | 9.0 | 18.3 | 102.4% |
| Shares Outstanding (Mil) | 32 | 33 | -3.3% |
| Cumulative Contribution | -10.7% |
Market Drivers
12/31/2022 to 1/30/2026| Return | Correlation | |
|---|---|---|
| WD | -10.7% | |
| Market (SPY) | 87.7% | 53.0% |
| Sector (XLF) | 63.4% | 54.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| WD Return | 67% | -47% | 47% | -10% | -36% | 7% | -18% |
| Peers Return | 80% | -38% | 19% | 23% | 24% | 4% | 110% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 86% |
Monthly Win Rates [3] | |||||||
| WD Win Rate | 75% | 33% | 50% | 67% | 25% | 100% | |
| Peers Win Rate | 63% | 35% | 52% | 62% | 57% | 100% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| WD Max Drawdown | -11% | -49% | -19% | -19% | -36% | -2% | |
| Peers Max Drawdown | -5% | -44% | -26% | -12% | -20% | -1% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CBRE, JLL, NMRK, STWD, CWK.
[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] 2026 data is for the year up to 1/30/2026 (YTD)
How Low Can It Go
| Event | WD | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -59.4% | -25.4% |
| % Gain to Breakeven | 146.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -68.6% | -33.9% |
| % Gain to Breakeven | 218.9% | 51.3% |
| Time to Breakeven | 224 days | 148 days |
| 2018 Correction | ||
| % Loss | -37.3% | -19.8% |
| % Gain to Breakeven | 59.6% | 24.7% |
| Time to Breakeven | 303 days | 120 days |
Compare to CBRE, JLL, NMRK, STWD, CWK
In The Past
Walker & Dunlop's stock fell -59.4% during the 2022 Inflation Shock from a high on 11/23/2021. A -59.4% loss requires a 146.5% gain to breakeven.
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About Walker & Dunlop (WD)
AI Analysis | Feedback
Here are 1-3 brief analogies for Walker & Dunlop (WD):
Rocket Mortgage for commercial apartment buildings.
Like CBRE or JLL, but specialized in financing and selling commercial real estate properties.
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- Commercial Real Estate Debt Financing: Offers a wide range of debt financing options for commercial real estate properties, including agency, bridge, and CMBS loans.
- Commercial Real Estate Equity Financing: Arranges equity capital for clients looking to acquire, develop, or recapitalize commercial real estate assets.
- Commercial Property Sales (Investment Sales): Provides brokerage services for clients seeking to buy or sell commercial real estate properties.
- Commercial Real Estate Loan Servicing: Manages the ongoing administration, collection, and reporting for a portfolio of commercial real estate loans.
- Proptech Solutions: Develops and offers technology-driven products and services to enhance efficiency and decision-making in the commercial real estate industry.
AI Analysis | Feedback
Walker & Dunlop (WD) primarily sells its services to other companies and entities within the commercial real estate sector.
Due to the transactional nature of its business and client confidentiality, Walker & Dunlop does not publicly disclose a specific list of its "major customer companies" by name and symbol. Its customer base is diverse, consisting of numerous real estate investors, developers, and property owners.
However, to illustrate the types of companies that typically engage Walker & Dunlop for commercial real estate financing, investment sales, and advisory services, examples of publicly traded Real Estate Investment Trusts (REITs) that operate in the multifamily sector (a core focus for WD) include:
- Equity Residential (NYSE: EQR)
- AvalonBay Communities (NYSE: AVB)
- Mid-America Apartment Communities (NYSE: MAA)
These companies represent the type of large institutional clients and developers that would utilize Walker & Dunlop's services, though they are not explicitly named as WD's major customers by Walker & Dunlop itself.
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- Fannie Mae (Federal National Mortgage Association)
- Freddie Mac (Federal Home Loan Mortgage Corporation)
- CoStar Group (symbol: CSGP)
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Willy Walker, Chairman and Chief Executive Officer
Willy Walker joined Walker & Dunlop in 2003, becoming President in 2005 and Chairman and CEO in 2007. Under his leadership, the company transformed from a small, family-owned business into one of the largest commercial real estate finance firms, and he led its initial public offering in 2010. Prior to Walker & Dunlop, Mr. Walker launched ALTA Airlines, a regional airline start-up in Argentina. He also served as president of the European and Latin American divisions of TeleTech, a global customer service management company, and worked at the private equity firm Newbridge Latin America. His experience also includes working in venture capital in Chile and in investment banking at Morgan Stanley.
Greg Florkowski, Chief Financial Officer; Executive Vice President
Greg Florkowski has served as the Chief Financial Officer and Executive Vice President of Walker & Dunlop since 2022. Before assuming the CFO role, he was the Executive Vice President of Business Development at the company from 2020 to 2022. Mr. Florkowski also held the position of Senior Vice President and Controller at Walker & Dunlop from 2010 to 2019.
Stephen P. Theobald, Chief Operating Officer; Executive Vice President
Stephen P. Theobald became the Chief Operating Officer and Executive Vice President of Walker & Dunlop in 2022. Previously, he served as the Executive Vice President and Chief Financial Officer at Hampton Roads Bankshares from 2010 to 2013. Mr. Theobald also held several senior financial positions at Capital One Financial Corporation between 1999 and 2010, including Chief Financial Officer from 2005 to 2010.
Paula A. Pryor, Chief Human Resources Officer; Executive Vice President
Paula A. Pryor has been the Chief Human Resources Officer and Executive Vice President of Walker & Dunlop since 2020. Before this, she was the Senior Vice President of Human Resources at the company. Ms. Pryor began her career in human resources with Katzenbach Partners, which is now the Katzenbach Center at Strategy&, part of the PWC global network.
Howard W. Smith, President
Howard W. Smith serves as the President of Walker & Dunlop and oversees the company's loan origination and investment sales operations. He is also a Director on the company's board.
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Here are the key risks to Walker & Dunlop's business:- Exposure to Commercial Real Estate Market Headwinds and Interest Rate Volatility: Walker & Dunlop has significant exposure to commercial real estate (CRE) and commercial mortgages. The company faces risks from potential increases in default rates, decreases in property values, and liquidity constraints within the CRE market. Stubbornly high interest rates are a major concern, as they can lead to rising costs, reduced demand, and challenges with refinancing maturing loans, all of which can directly impact WD's future earnings.
- Reliance on Government-Sponsored Enterprises (GSEs) and Potential Regulatory Changes: A substantial portion of Walker & Dunlop's loan origination volume is dependent on programs from government-sponsored enterprises like Fannie Mae and Freddie Mac. Changes in regulations or policies concerning these entities, including the potential for their privatization, could directly affect WD's primary revenue streams.
- Cyclical Nature of the Real Estate Market: The core of Walker & Dunlop's business, including multifamily residential real estate lending and loan servicing, is highly susceptible to the cyclical nature of the real estate market. Periods of rising interest rates can lead to a significant drop in transaction volumes, impacting the company's ability to generate substantial profits and relying more heavily on stable revenue from its servicing business during downturns.
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The increasing maturation and adoption of PropTech and FinTech platforms specifically targeting the commercial real estate finance and transaction sectors. These technologies leverage advanced data analytics, artificial intelligence, and machine learning to streamline or automate various aspects of commercial real estate, including property valuation, loan underwriting, investment sales, and capital matching. This trend poses a threat by potentially disintermediating traditional human-intensive intermediary roles, enabling more direct and efficient connections between capital providers and borrowers/investors, and ultimately compressing transaction fees and margins for firms like Walker & Dunlop.
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The addressable markets for Walker & Dunlop's main products and services are primarily within the United States.
U.S. Multifamily Lending Market
The U.S. multifamily lending market reached approximately $288.7 billion in 2024. Projections from the Mortgage Bankers Association (MBA) in August 2024 anticipated this market to rise to $297 billion by the end of 2024.
U.S. Commercial Real Estate (CRE) Mortgage Borrowing and Lending Market
The total U.S. commercial real estate (CRE) mortgage borrowing and lending market was estimated at $498 billion in 2024. The MBA also projected this market to finish 2024 at $539 billion, with an anticipated increase to $665 billion for total commercial and multifamily mortgage borrowing and lending, of which $390 billion is expected to be in multifamily lending.
U.S. Commercial Property Sales Market
In 2024, dedicated mortgage banking firms, similar to a service offered by Walker & Dunlop, served as investment sales brokers for $247 billion of deals in the U.S.
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Walker & Dunlop (symbol: WD) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:
- Improving Commercial Real Estate Market and Increased Transaction Volumes: The company is benefiting from and expects continued momentum from an improving commercial real estate market, characterized by pent-up demand for assets and a material increase in the supply of debt capital. This has already led to increased transaction volumes across its platform.
- Refinancing Opportunities from Maturing Loans: A significant driver is the wave of refinancing opportunities, particularly from the shift towards 5-year loans. Management highlighted that this shorter duration presents a "huge opportunity for asset refinancing and/or sales over the next 2 to 5 years," with a substantial portion of Agency loans in their servicing portfolio scheduled to mature.
- Expansion of Technology-Enabled Businesses: Walker & Dunlop is actively investing in and expanding its technology-enabled services. This includes growth in its appraisal business, Apprise, and small balance lending, with plans to integrate technology from acquisitions like GeoPhy to further drive these areas.
- Market Share Gains and Client Base Expansion: The company is focused on strategically winning market share and broadening its client base. Recent earnings calls indicate success in attracting new clients and outpacing competitors in capital markets executions.
- Growth in Agency Lending Volumes: Walker & Dunlop continues to see strong performance and growth in its lending volumes with key government-sponsored enterprises (GSEs) such as Freddie Mac and Fannie Mae.
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Share Repurchases
- Walker & Dunlop's Board of Directors authorized a new $75.0 million share repurchase program in February 2025, effective for a twelve-month period starting February 21, 2025.
- In February 2024, the Board authorized a $75.0 million share repurchase program over a 12-month period.
- The company repurchased 109 thousand shares in 2022 at a weighted average price of $101.77 per share, totaling $11.1 million under a share repurchase program. Additionally, in 2022, 348 thousand shares were purchased to satisfy grantee tax withholding obligations on share-vesting events.
Share Issuance
- Information regarding explicit dollar amounts of shares issued for cash by Walker & Dunlop over the last 3-5 years is not readily available in the provided search results.
Inbound Investments
- No information is available regarding large investments made in Walker & Dunlop by third-parties (e.g., strategic partners or private equity firms) over the last 3-5 years in the provided search results.
Outbound Investments
- Walker & Dunlop acquired Avalon Real Estate Partners in July 2022, a company providing land brokerage, investment consultation, and capital sourcing services.
- The company made strategic investments to expand its Capital Markets team in 2024, including adding a hospitality-focused investment sales team, hiring an affordable housing debt financing team, and expanding into Europe with a London-based brokerage team.
- Walker & Dunlop's "Drive to '25" growth plan involves establishing new complementary businesses, such as small balance lending, valuation advisory, and investment banking, through acquisitions or internal development.
Capital Expenditures
- Walker & Dunlop prioritizes reinvesting in the business for long-term growth opportunities.
- A primary focus of investments has been in people, brand, and technology to enhance customer experience, identify financial opportunities, and drive internal efficiencies.
- Explicit dollar values for capital expenditures over the last 3-5 years are not available in the provided search results.
Latest Trefis Analyses
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| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 40.41 |
| Mkt Cap | 5.1 |
| Rev LTM | 6,582 |
| Op Inc LTM | 461 |
| FCF LTM | 439 |
| FCF 3Y Avg | 263 |
| CFO LTM | 491 |
| CFO 3Y Avg | 291 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 13.6% |
| Rev Chg 3Y Avg | 1.0% |
| Rev Chg Q | 12.3% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Mgn LTM | 4.6% |
| Op Mgn 3Y Avg | 3.6% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 3.1% |
| CFO/Rev 3Y Avg | 3.3% |
| FCF/Rev LTM | 2.6% |
| FCF/Rev 3Y Avg | 2.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.1 |
| P/S | 1.1 |
| P/EBIT | 15.7 |
| P/E | 22.5 |
| P/CFO | 11.7 |
| Total Yield | 4.6% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.8 |
| Net D/E | 0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 3.7% |
| 3M Rtn | 3.0% |
| 6M Rtn | 14.5% |
| 12M Rtn | 18.1% |
| 3Y Rtn | 54.5% |
| 1M Excs Rtn | 2.0% |
| 3M Excs Rtn | -0.6% |
| 6M Excs Rtn | 4.2% |
| 12M Excs Rtn | 5.7% |
| 3Y Excs Rtn | -12.3% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Servicing & Asset Management (SAM) | 564 | 507 | 378 | ||
| Capital Markets (CM) | 477 | 709 | 882 | ||
| Corporate | 14 | 42 | -1 | ||
| Single segment | 1,084 | 817 | |||
| Total | 1,054 | 1,259 | 1,259 | 1,084 | 817 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Servicing & Asset Management (SAM) | 214 | 170 | 139 | ||
| Capital Markets (CM) | 58 | 199 | 348 | ||
| Corporate | -134 | -104 | -135 | ||
| Total | 138 | 265 | 352 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Servicing & Asset Management (SAM) | 166 | 140 | 105 | ||
| Capital Markets (CM) | 41 | 156 | 262 | ||
| Corporate | -100 | -82 | -102 | ||
| Total | 107 | 214 | 266 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Servicing & Asset Management (SAM) | 2,273 | 2,539 | 2,430 | ||
| Capital Markets (CM) | 1,193 | 1,051 | 2,264 | ||
| Corporate | 586 | 455 | 512 | ||
| Total | 4,052 | 4,045 | 5,206 |
Price Behavior
| Market Price | $62.89 | |
| Market Cap ($ Bil) | 2.1 | |
| First Trading Date | 12/15/2010 | |
| Distance from 52W High | -32.5% | |
| 50 Days | 200 Days | |
| DMA Price | $62.74 | $72.39 |
| DMA Trend | down | down |
| Distance from DMA | 0.2% | -13.1% |
| 3M | 1YR | |
| Volatility | 36.6% | 35.3% |
| Downside Capture | 178.90 | 123.34 |
| Upside Capture | 30.27 | 65.11 |
| Correlation (SPY) | 38.9% | 50.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.94 | 1.16 | 0.67 | 1.05 | 0.92 | 1.21 |
| Up Beta | 2.24 | -0.22 | 0.45 | 1.10 | 0.89 | 1.11 |
| Down Beta | 1.33 | 2.12 | 0.88 | 1.05 | 0.91 | 1.09 |
| Up Capture | -18% | -6% | -27% | 60% | 53% | 151% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 9 | 16 | 27 | 58 | 112 | 358 |
| Down Capture | 135% | 207% | 138% | 139% | 115% | 109% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 13 | 25 | 37 | 69 | 139 | 393 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WD | |
|---|---|---|---|---|
| WD | -31.7% | 35.2% | -1.02 | - |
| Sector ETF (XLF) | 5.3% | 19.1% | 0.14 | 49.8% |
| Equity (SPY) | 16.1% | 19.2% | 0.65 | 50.1% |
| Gold (GLD) | 76.5% | 23.4% | 2.38 | -3.1% |
| Commodities (DBC) | 11.1% | 15.9% | 0.48 | 4.9% |
| Real Estate (VNQ) | 5.3% | 16.5% | 0.14 | 55.6% |
| Bitcoin (BTCUSD) | -21.5% | 40.0% | -0.51 | 20.3% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WD | |
|---|---|---|---|---|
| WD | -4.1% | 36.5% | -0.02 | - |
| Sector ETF (XLF) | 14.0% | 18.8% | 0.61 | 56.6% |
| Equity (SPY) | 14.0% | 17.1% | 0.65 | 57.1% |
| Gold (GLD) | 20.8% | 16.5% | 1.03 | 7.5% |
| Commodities (DBC) | 12.2% | 18.8% | 0.53 | 12.1% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 60.5% |
| Bitcoin (BTCUSD) | 20.3% | 57.6% | 0.55 | 24.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with WD | |
|---|---|---|---|---|
| WD | 13.1% | 40.9% | 0.44 | - |
| Sector ETF (XLF) | 14.0% | 22.2% | 0.58 | 59.1% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 55.4% |
| Gold (GLD) | 15.6% | 15.3% | 0.85 | -0.9% |
| Commodities (DBC) | 8.5% | 17.6% | 0.40 | 16.8% |
| Real Estate (VNQ) | 5.9% | 20.8% | 0.25 | 54.9% |
| Bitcoin (BTCUSD) | 71.0% | 66.4% | 1.10 | 16.1% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | -11.1% | -16.5% | -20.5% |
| 8/7/2025 | 5.9% | 12.1% | 17.0% |
| 5/1/2025 | -3.3% | -6.7% | -9.7% |
| 2/13/2025 | -5.3% | -5.5% | -3.4% |
| 11/7/2024 | -1.7% | -3.5% | -3.1% |
| 8/8/2024 | 2.8% | 2.8% | 5.4% |
| 5/2/2024 | 1.6% | 3.9% | 4.2% |
| 2/15/2024 | 5.0% | 3.7% | -3.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 12 |
| # Negative | 11 | 11 | 12 |
| Median Positive | 5.7% | 10.2% | 13.5% |
| Median Negative | -5.3% | -5.5% | -6.9% |
| Max Positive | 14.2% | 18.8% | 38.5% |
| Max Negative | -11.1% | -18.1% | -20.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/22/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/23/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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