WaFd

WAFD · Nasdaq · Financials · Financials, fiscal 2016 to 2025

WAFD · Last close · November 6, 2026

$29.43

WaFd's revenue rose 0.6% to $726 million in fiscal 2025. Net income was $226 million, up 13.0%. Its return on equity was 7.5%, up from 7.4% a year earlier. Its efficiency ratio was 58.9%, down from 62.1% a year earlier. It paid out $187 million in dividends and buybacks. The diluted share count rose 8.0%.

WaFd, Inc. Latest fiscal year ended September 30, 2025 10-K filed November 18, 2025 · 0000936528-25-000117 Updated November 5, 2026

Revenue

$726M

0.6%

Net income

$226M

13.0%

Return on equity

7.5%

0.1 pts

Return on tangible equity

9.2%

0.2 pts

Efficiency ratio

58.9%

3.2 pts

Market cap

$2.2B

Nov 6 close

P/E

9.3x

On $3.17 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2016 to 2025, earnings per share grew 4.4% a year and net income 3.6% a year, as buybacks cut the share count by 13%.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	13,834	16,114	17,476	20,916	20,089
Deposits	15,542	16,030	16,070	21,374	21,438
Loans to deposits	89.0%	100.5%	108.8%	97.9%	93.7%
Provision for credit losses	0	3	42	18	8
Provision to average loans	0.0%	0.0%	0.2%	0.1%	0.0%
Total assets	19,651	20,772	22,475	28,060	26,700
Shareholders' equity	2,126	2,274	2,426	3,000	3,040

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project WaFd's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open WaFd's projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 1 insider bought $100,200 of WaFd shares on the open market, and 2 insiders sold $955,141.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Apr 24, 2026	Kim E RobisonEVP & Chief Operations Officer	Sold	22,000	$35.28	$776,160	Form 4
Feb 6, 2026	Cathy E CooperEVP & Chief Consumer Banker	Sold	5,300	$33.77	$178,981	Form 4
Dec 3, 2025	Brent J BeardallPresident & CEO, Director	Bought	3,000	$16.85	$50,550	Form 4
Nov 26, 2025	Brent J BeardallPresident & CEO, Director	Bought	3,000	$16.55	$49,650	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put WaFd side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
WaFd	FY25	0.6%	31.2%	7.5%	9.2%	58.9%
Eastern Bankshares	FY25	−1.2%	12.2%	2.2%	3.0%	82.6%	Compare
Bank of Hawaii	FY25	12.1%	28.7%	11.7%	10.7%	61.8%	Compare
Bancorp	FY25	31.9%	32.4%	30.9%	30.9%	31.7%	Compare
NBT Bancorp	FY25	20.8%	24.3%	9.9%	13.5%	63.9%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	467	484	516	543	556	566	661	742	722	726
Revenue growth	3.0%	3.6%	6.6%	5.3%	2.4%	1.6%	16.9%	12.3%	−2.8%	0.6%
Net interest income	420	432	472	481	470	505	595	690	661	654
Noninterest income	47	52	44	62	87	61	66	52	61	71
Noninterest expense	235	232	264	283	316	332	359	376	448	428
Provision for credit losses	−6	−5	−6	−2	22	0	3	42	18	8
Net income	164	174	204	210	173	184	236	257	200	226
Diluted EPS (US$)	1.78	1.94	2.40	2.61	2.26	2.39	3.39	3.72	2.50	2.63
Diluted shares (millions)	92	89	85	80	77	73	65	65	74	80
Payouts
Dividends paid	50	74	56	63	66	66	62	64	74	85
Share buybacks	88	98	164	124	112	349	3	30	27	102
Balance sheet at fiscal year end
Loans, net	9,911	10,883	11,477	11,931	12,792	13,834	16,114	17,476	20,916	20,089
Deposits	—	10,835	11,387	11,991	13,780	15,542	16,030	16,070	21,374	21,438
Total assets	14,888	15,254	15,866	16,475	18,794	19,651	20,772	22,475	28,060	26,700
Shareholders' equity	1,976	2,006	1,997	2,033	2,014	2,126	2,274	2,426	3,000	3,040
Ratios
Return on equity	8.3%	8.7%	10.2%	10.4%	8.6%	8.9%	10.7%	10.9%	7.4%	7.5%
Return on tangible common equity	9.8%	10.2%	12.0%	12.3%	10.1%	10.7%	13.9%	13.9%	9.0%	9.2%
Return on assets	1.1%	1.1%	1.3%	1.3%	1.0%	1.0%	1.2%	1.2%	0.8%	0.8%
Efficiency ratio	50.4%	47.8%	51.2%	52.1%	56.7%	58.8%	54.2%	50.6%	62.1%	58.9%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: WaFd's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with WaFd.