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Waterstone Financial (WSBF) Financials

Waterstone Financial logo
$20.06 +0.61 (+3.14%)
Closing price 04:00 PM Eastern
Extended Trading
$20.05 -0.01 (-0.05%)
As of 04:10 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Waterstone Financial

Annual Income Statements for Waterstone Financial

This table shows Waterstone Financial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 17 26 26 31 36 81 71 19 9.38 19 26
Consolidated Net Income / (Loss)		 17 26 26 31 36 81 71 19 9.38 19 26
Net Income / (Loss) Continuing Operations		 17 26 26 31 36 81 71 19 9.38 19 26
Total Pre-Tax Income 		26 42 44 40 48 108 92 24 11 24 33
Total Revenue		 143 170 175 172 183 298 259 163 131 135 142
Net Interest Income / (Expense)		 39 43 51 54 52 54 56 57 50 46 57
Total Interest Income		 62 64 67 74 80 78 70 70 99 113 116
Loans and Leases Interest Income		 55 57 61 67 72 73 64 63 90 103 105
Investment Securities Interest Income		 6.79 6.55 6.27 6.73 7.51 2.49 1.95 3.24 4.05 4.50 5.22
Federal Funds Sold and Securities Borrowed Interest Income		 - - - - - 3.36 3.56 4.07 5.01 5.61 6.14
Total Interest Expense		 23 20 16 20 28 25 14 13 49 67 59
Deposits Interest Expense		 5.88 7.36 7.74 12 17 14 4.42 4.86 26 41 44
Long-Term Debt Interest Expense		 17 13 8.62 7.90 10 11 9.95 8.43 23 26 16
Total Non-Interest Income		 104 126 124 118 131 244 203 106 81 89 85
Other Service Charges		 103 122 121 115 126 238 198 102 78 85 81
Net Realized & Unrealized Capital Gains on Investments		 0.04 2.23 1.52 1.68 2.36 4.46 3.33 2.20 1.82 2.06 2.09
Other Non-Interest Income		 1.42 1.77 1.81 1.85 1.94 1.91 1.62 1.74 1.71 1.97 2.56
Provision for Credit Losses		 1.97 0.38 -1.17 -1.06 -0.90 6.34 -3.99 0.97 0.66 -0.17 -1.39
Total Non-Interest Expense		 116 127 132 133 136 183 171 137 120 112 110
Salaries and Employee Benefits		 82 95 97 98 102 139 135 100 84 81 80
Net Occupancy & Equipment Expense		 12 12 13 14 14 14 14 13 13 13 12
Marketing Expense		 2.95 2.74 3.33 4.12 3.89 3.69 3.53 3.98 3.78 3.55 2.88
Other Operating Expenses		 18 18 19 18 16 26 18 20 19 14 15
Income Tax Expense		 9.25 16 18 9.53 12 27 21 4.99 1.66 5.31 7.04
Basic Earnings per Share		 $0.57 $0.94 $0.95 $1.12 $1.38 $3.32 $2.98 $0.89 $0.47 $1.01 $1.48
Weighted Average Basic Shares Outstanding		 29.16M 27.04M 27.47M 27.36M 26.02M 24.46M 23.74M 21.88M 20.16M 18.56M 17.84M
Diluted Earnings per Share		 $0.56 $0.93 $0.93 $1.11 $1.37 $3.30 $2.96 $0.89 $0.46 $1.01 $1.48
Weighted Average Diluted Shares Outstanding		 29.43M 27.37M 27.90M 27.63M 26.25M 24.61M 23.93M 22.01M 20.20M 18.59M 17.87M
Weighted Average Basic & Diluted Shares Outstanding		 29.22M 29.45M 27.30M 27.50M 0.00 25.12M 24.23M 22.06M 20.05M 19.32M 18.36M
Cash Dividends to Common per Share		 - - $0.98 $0.98 $0.98 $1.36 $1.80 $0.80 $0.70 $0.60 $0.60

Quarterly Income Statements for Waterstone Financial

This table shows Waterstone Financial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.25 -0.04 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
Consolidated Net Income / (Loss)		 3.25 -0.04 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
Net Income / (Loss) Continuing Operations		 3.25 -0.04 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
Total Pre-Tax Income 		3.75 -0.60 4.77 7.14 5.89 6.21 3.88 9.67 9.84 10 7.55
Total Revenue		 34 29 32 37 34 32 30 38 37 37 36
Net Interest Income / (Expense)		 12 12 11 11 12 13 13 14 15 16 15
Total Interest Income		 26 27 27 28 29 29 28 29 30 30 29
Loans and Leases Interest Income		 24 24 24 26 27 26 25 26 27 27 26
Investment Securities Interest Income		 1.06 1.08 1.10 1.13 1.14 1.14 1.19 1.25 1.37 1.41 1.45
Federal Funds Sold and Securities Borrowed Interest Income		 1.49 1.33 1.32 1.29 1.46 1.53 1.49 1.56 1.57 1.53 1.61
Total Interest Expense		 14 15 16 17 18 16 15 15 15 14 14
Deposits Interest Expense		 7.44 8.25 8.97 9.72 10 11 11 11 11 11 10
Long-Term Debt Interest Expense		 6.95 6.69 6.80 7.63 7.20 4.81 3.85 4.01 4.29 3.71 3.18
Total Non-Interest Income		 22 17 21 26 23 19 17 24 22 21 20
Other Service Charges		 21 16 20 25 22 18 16 23 21 20 19
Net Realized & Unrealized Capital Gains on Investments		 0.45 0.33 0.42 0.47 0.55 0.63 0.59 0.41 0.62 0.46 0.37
Other Non-Interest Income		 0.33 0.34 0.35 0.80 0.41 0.41 0.48 1.01 0.53 0.54 0.55
Provision for Credit Losses		 0.45 -0.44 0.07 -0.23 -0.38 0.37 -0.56 -0.01 -0.27 -0.56 0.26
Total Non-Interest Expense		 30 30 28 30 29 25 26 28 27 28 28
Salaries and Employee Benefits		 22 20 20 22 21 18 17 21 21 21 20
Net Occupancy & Equipment Expense		 3.22 3.23 3.31 3.27 3.15 2.81 3.14 3.07 2.90 3.03 3.22
Marketing Expense		 0.92 1.03 0.91 0.99 0.93 0.73 0.72 0.75 0.71 0.70 0.62
Other Operating Expenses		 4.30 5.34 3.45 4.24 3.46 3.31 5.44 3.44 3.32 3.03 4.19
Income Tax Expense		 0.50 -0.56 1.73 1.43 1.16 1.00 0.85 1.94 1.92 2.34 1.56
Basic Earnings per Share		 $0.16 $0.01 $0.16 $0.31 $0.26 $0.28 $0.17 $0.43 $0.45 $0.43 $0.35
Weighted Average Basic Shares Outstanding		 20.00M 20.16M 19.02M 18.52M 18.35M 18.56M 18.27M 17.99M 17.64M 17.84M 17.37M
Diluted Earnings per Share		 $0.16 - $0.16 $0.31 $0.26 $0.28 $0.17 $0.43 $0.45 $0.43 $0.34
Weighted Average Diluted Shares Outstanding		 20.02M 20.20M 19.04M 18.57M 18.45M 18.59M 18.28M 18.00M 17.67M 17.87M 17.43M
Weighted Average Basic & Diluted Shares Outstanding		 20.58M 20.05M 19.64M 19.46M 19.37M 19.32M 19.08M 18.68M 18.46M 18.36M 18.05M
Cash Dividends to Common per Share		 $0.15 - $0.15 $0.15 $0.15 - $0.15 $0.15 $0.15 - $0.17

Annual Cash Flow Statements for Waterstone Financial

This table details how cash moves in and out of Waterstone Financial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -72 -53 1.39 37 -12 20 282 -330 -10 3.34 31
Net Cash From Operating Activities		 -13 -24 107 42 -40 -94 142 207 -28 48 24
Net Cash From Continuing Operating Activities		 -13 -24 107 42 -40 -94 142 207 -28 48 24
Net Income / (Loss) Continuing Operations		 17 26 26 31 36 81 71 19 9.38 19 26
Consolidated Net Income / (Loss)		 17 26 26 31 36 81 71 19 9.38 19 26
Provision For Loan Losses		 1.97 0.38 -1.17 -1.06 -0.90 6.34 -3.99 0.97 0.66 -0.17 -1.39
Depreciation Expense		 3.11 2.62 2.05 4.73 4.70 5.61 6.05 4.03 3.30 2.47 2.55
Non-Cash Adjustments to Reconcile Net Income		 -40 -57 78 7.08 -79 -190 76 177 -38 27 -12
Changes in Operating Assets and Liabilities, net		 2.36 1.41 -0.93 -0.00 -0.53 3.35 -6.55 5.07 -2.56 0.25 8.22
Net Cash From Investing Activities		 -16 -25 -95 -78 -1.15 37 160 -336 -159 -24 -8.75
Net Cash From Continuing Investing Activities		 -16 -25 -95 -78 -1.15 37 160 -336 -159 -24 -8.75
Purchase of Property, Leasehold Improvements and Equipment		 -2.97 -1.09 -1.58 -3.96 -3.11 -1.23 -0.78 -0.70 -0.70 -1.10 -1.17
Purchase of Investment Securities		 -90 -93 -143 -118 -47 -23 96 -399 -196 -60 -47
Sale and/or Maturity of Investments		 79 63 20 43 49 16 24 31 16 13 14
Other Investing Activities, net		 -2.00 6.23 29 1.43 0.00 45 40 33 21 24 25
Net Cash From Financing Activities		 -43 -4.16 -11 74 30 77 -20 -201 177 -21 16
Net Cash From Continuing Financing Activities		 -43 -4.16 -11 74 30 77 -20 -201 177 -21 16
Net Change in Deposits		 29 56 18 71 29 117 49 -34 -8.39 169 77
Issuance of Debt		 7.20 166 175 255 174 25 -31 380 528 10 56
Repayment of Debt		 0.00 -220 -176 -206 -125 0.00 0.00 -470 -304 -175 -90
Repurchase of Common Equity		 -73 -3.86 -2.19 -19 -23 -36 -10 -48 -26 -15 -16
Payment of Dividends		 -5.87 -6.92 -27 -27 -26 -32 -30 -30 -15 -11 -11
Other Financing Activities, Net		 -1.22 4.61 1.21 0.80 0.50 3.01 2.88 1.80 2.09 0.69 -0.23
Cash Interest Paid		 23 21 16 19 27 25 15 13 48 66 59
Cash Income Taxes Paid		 7.93 14 17 10 11 29 23 4.09 1.17 2.39 5.01

Quarterly Cash Flow Statements for Waterstone Financial

This table details how cash moves in and out of Waterstone Financial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 1.10 -26 9.29 -4.40 0.09 -1.65 3.53 28 -17 17 -26
Net Cash From Operating Activities		 48 -1.00 -9.94 -40 74 23 27 -38 33 3.17 -0.65
Net Cash From Continuing Operating Activities		 48 -1.00 -9.94 -40 74 23 27 -38 33 3.17 -0.65
Net Income / (Loss) Continuing Operations		 3.25 -0.04 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
Consolidated Net Income / (Loss)		 3.25 -0.04 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
Provision For Loan Losses		 0.45 -0.44 0.07 -0.23 -0.38 0.37 -0.56 -0.01 -0.27 -0.56 0.26
Depreciation Expense		 0.72 1.03 0.49 0.63 0.76 0.59 0.71 0.56 0.59 0.69 0.92
Non-Cash Adjustments to Reconcile Net Income		 45 -8.28 -9.98 -49 67 19 19 -46 26 -10 -0.12
Changes in Operating Assets and Liabilities, net		 -1.11 6.73 -3.55 3.62 2.41 -2.23 4.38 -0.50 -1.15 5.48 -7.71
Net Cash From Investing Activities		 -36 -14 -0.15 -14 -17 7.31 17 -6.42 -56 37 -16
Net Cash From Continuing Investing Activities		 -36 -14 -0.15 -14 -17 7.31 17 -6.42 -56 37 -16
Purchase of Property, Leasehold Improvements and Equipment		 -0.13 -0.42 -0.39 -0.16 -0.19 -0.35 -0.27 -0.06 -0.30 -0.55 -0.99
Purchase of Investment Securities		 -45 -24 -5.06 -26 -26 -3.01 6.88 -16 -65 27 -24
Sale and/or Maturity of Investments		 4.01 5.38 0.29 6.04 3.04 3.79 4.52 3.12 3.41 3.37 2.49
Other Investing Activities, net		 5.60 5.01 5.01 5.73 5.96 6.88 5.72 6.59 6.26 6.89 6.47
Net Cash From Financing Activities		 -12 -10 19 49 -57 -32 -40 72 6.17 -23 -9.86
Net Cash From Continuing Financing Activities		 -12 -10 19 49 -57 -32 -40 72 6.17 -23 -9.86
Net Change in Deposits		 18 -15 9.27 24 40 96 21 3.51 1.27 51 1.52
Issuance of Debt		 68 112 73 122 -101 -84 -11 70 33 -37 31
Repayment of Debt		 -95 -89 -50 -95 - -30 -40 - -30 -20 -30
Repurchase of Common Equity		 -6.68 -6.19 -5.35 -5.77 -1.00 -2.80 -3.17 -6.49 -3.82 -2.72 -4.40
Payment of Dividends		 -4.09 -2.96 -2.95 -2.81 -2.75 -2.76 -2.74 -2.73 -2.66 -2.64 -2.64
Other Financing Activities, Net		 7.79 -9.89 -4.70 7.09 7.57 -9.27 -4.79 8.34 8.05 -12 -5.12
Cash Interest Paid		 3.49 32 17 19 19 11 16 15 15 14 14
Cash Income Taxes Paid		 0.02 -0.73 0.00 0.45 2.72 -0.78 0.00 1.08 1.77 2.17 0.00

Annual Balance Sheets for Waterstone Financial

This table presents Waterstone Financial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,763 1,791 1,806 1,915 1,996 2,185 2,216 2,032 2,213 2,210 2,260
Cash and Due from Banks		 57 7.88 22 48 53 56 343 34 31 35 64
Federal Funds Sold		 20 27 17 25 13 19 14 11 5.49 4.30 7.26
Interest Bearing Deposits at Other Banks		 23 13 9.27 13 8.78 20 - 2.26 0.26 0.28 0.29
Trading Account Securities		 270 227 200 186 178 160 179 197 205 209 231
Loans and Leases, Net of Allowance		 1,099 1,162 1,278 1,366 1,376 1,356 1,190 1,492 1,646 1,662 1,658
Loans and Leases		 1,115 1,178 1,292 1,379 1,388 1,375 1,206 1,510 1,664 1,681 1,676
Allowance for Loan and Lease Losses		 16 16 14 13 12 19 16 18 19 18 17
Loans Held for Sale		 167 225 150 142 220 402 - 131 165 136 145
Premises and Equipment, Net		 25 24 23 25 25 24 22 21 20 19 19
Other Assets		 102 106 108 112 123 148 24 144 141 144 136
Total Liabilities & Shareholders' Equity		 1,763 1,791 1,806 1,915 1,996 2,185 2,230 2,032 2,213 2,210 2,260
Total Liabilities		 1,371 1,380 1,394 1,516 1,603 1,771 1,783 1,661 1,869 1,870 1,910
Interest Bearing Deposits		 897 954 972 1,043 1,072 1,188 1,233 1,204 1,197 1,366 1,440
Long-Term Debt		 441 387 386 435 484 508 477 387 611 447 412
Other Long-Term Liabilities		 33 39 36 38 47 75 68 70 61 58 58
Commitments & Contingencies		 - - - - - - 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 392 411 412 400 394 413 447 370 344 339 349
Total Preferred & Common Equity		 392 411 412 400 394 413 433 370 344 339 349
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 392 411 412 400 394 413 447 370 344 339 349
Common Stock		 317 323 327 233 212 181 175 129 104 91 78
Retained Earnings		 168 185 183 187 197 245 273 274 270 277 293
Accumulated Other Comprehensive Income / (Loss)		 0.58 -0.38 -0.48 -2.36 0.64 2.33 -1.14 -19 -18 -19 -12
Other Equity Adjustments		 -21 -20 -19 -18 -17 -15 - -13 -12 -11 -9.50

Quarterly Balance Sheets for Waterstone Financial

This table presents Waterstone Financial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 2,221 2,235 2,290 2,244 2,175 2,257 2,269 2,251
Cash and Due from Banks		 56 41 36 36 37 63 50 39
Federal Funds Sold		 6.24 4.12 4.87 5.36 5.55 7.47 3.41 5.60
Interest Bearing Deposits at Other Banks		 0.26 0.27 0.27 0.28 0.28 0.28 0.29 0.30
Trading Account Securities		 194 205 205 213 214 219 226 237
Loans and Leases, Net of Allowance		 1,633 1,646 1,660 1,677 1,646 1,646 1,697 1,667
Loans and Leases		 1,651 1,665 1,679 1,695 1,664 1,664 1,715 1,684
Allowance for Loan and Lease Losses		 19 19 18 18 18 18 18 18
Loans Held for Sale		 157 175 223 156 116 162 136 144
Premises and Equipment, Net		 20 20 20 19 19 19 19 19
Other Assets		 155 143 141 137 137 140 137 139
Total Liabilities & Shareholders' Equity		 2,221 2,235 2,290 2,244 2,175 2,257 2,269 2,251
Total Liabilities		 1,875 1,897 1,955 1,902 1,834 1,915 1,924 1,903
Interest Bearing Deposits		 1,233 1,214 1,245 1,292 1,394 1,406 1,413 1,450
Long-Term Debt		 588 634 661 560 396 466 469 413
Other Long-Term Liabilities		 54 49 49 51 44 44 42 40
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 346 338 335 342 341 341 345 348
Total Preferred & Common Equity		 346 338 335 342 341 341 345 348
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 346 338 335 342 341 341 345 348
Common Stock		 110 99 93 93 91 84 81 75
Retained Earnings		 273 270 273 275 278 283 288 296
Accumulated Other Comprehensive Income / (Loss)		 -24 -19 -20 -15 -16 -15 -13 -13
Other Equity Adjustments		 -12 -12 -11 -11 -10 -10 -9.79 -9.20

Annual Metrics And Ratios for Waterstone Financial

This table displays calculated financial ratios and metrics derived from Waterstone Financial's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 29,429,464.00 29,164,384.00 29,489,346.00 28,829,339.00 27,148,411.00 25,161,736.00 24,926,117.00 22,190,271.00 20,576,571.00 - 18,456,918.00
DEI Adjusted Shares Outstanding		 29,429,464.00 29,164,384.00 29,489,346.00 28,829,339.00 27,148,411.00 25,161,736.00 24,926,117.00 22,190,271.00 20,576,571.00 - 18,456,918.00
DEI Earnings Per Adjusted Shares Outstanding		 0.56 0.88 0.88 1.07 1.32 3.22 2.84 0.88 0.46 - 1.43
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.86% 18.48% 3.14% -1.58% 6.13% 62.62% -13.04% -37.18% -19.14% 3.10% 4.76%
EBITDA Growth		 21.45% 48.98% 2.92% -8.57% 16.14% 117.56% -13.69% -70.95% -49.73% 84.72% 35.95%
EBIT Growth		 29.70% 62.65% 5.81% -9.35% 18.11% 127.26% -14.81% -73.42% -54.93% 117.57% 39.34%
NOPAT Growth		 30.14% 54.09% 1.69% 18.45% 16.74% 126.01% -12.76% -72.47% -51.89% 99.34% 41.28%
Net Income Growth		 30.14% 54.09% 1.69% 18.45% 16.74% 126.01% -12.76% -72.47% -51.89% 99.34% 41.28%
EPS Growth		 47.37% 66.07% 0.00% 19.35% 23.42% 140.88% -10.30% -69.93% -48.31% 119.57% 46.53%
Operating Cash Flow Growth		 -486.24% -85.22% 545.09% -61.25% -196.91% -132.68% 251.75% 45.53% -113.34% 274.29% -49.68%
Free Cash Flow Firm Growth		 133.53% -10.13% -58.20% -121.96% -18.60% 661.95% 120.65% 109.69% -209.50% 199.83% -73.21%
Invested Capital Growth		 -5.78% -4.24% 0.07% 4.55% 5.09% 5.01% -1.23% -16.77% 26.13% -17.74% -3.06%
Revenue Q/Q Growth		 1.27% 6.82% -0.92% -1.37% 4.47% 14.32% -10.08% -12.15% -3.01% 0.00% 3.90%
EBITDA Q/Q Growth		 2.86% 13.89% -3.18% -4.21% 9.10% 26.70% -18.17% -34.79% -7.49% 0.00% 12.29%
EBIT Q/Q Growth		 4.18% 16.59% -3.18% -4.57% 10.48% 30.46% -18.80% -38.03% -10.21% 0.00% 12.99%
NOPAT Q/Q Growth		 4.79% 14.99% -11.23% 9.09% 9.50% 30.66% -17.75% -37.35% -9.43% 0.00% 10.47%
Net Income Q/Q Growth		 4.79% 14.99% -11.23% 9.09% 9.50% 30.66% -17.75% -37.35% -9.43% 0.00% 10.47%
EPS Q/Q Growth		 5.66% 14.81% -11.43% 9.90% 10.48% 31.47% -16.62% -35.51% -9.80% 0.00% 11.28%
Operating Cash Flow Q/Q Growth		 -143.26% 58.98% 24.85% 322.77% -1,221.25% -6.01% -3.03% 24.51% -161.43% 0.00% -45.58%
Free Cash Flow Firm Q/Q Growth		 0.00% 2.64% 182.95% -128.12% 54.27% 173.80% -31.63% -31.85% 17.26% 0.00% -54.78%
Invested Capital Q/Q Growth		 1.04% 1.31% -5.79% -2.46% -2.86% -3.19% -0.84% 8.78% 2.23% 0.00% -6.50%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 22.40% 28.17% 28.11% 26.11% 28.57% 38.22% 37.94% 17.54% 10.91% 19.54% 25.36%
EBIT Margin		 18.02% 24.73% 25.37% 23.37% 26.00% 36.34% 35.60% 15.06% 8.40% 17.72% 23.57%
Profit (Net Income) Margin		 11.56% 15.04% 14.82% 17.84% 19.62% 27.27% 27.36% 11.99% 7.13% 13.79% 18.60%
Tax Burden Percent		 64.18% 60.80% 58.43% 76.35% 75.47% 75.05% 76.86% 79.61% 84.98% 77.86% 78.94%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 35.82% 39.20% 41.57% 23.65% 24.53% 24.95% 23.14% 20.39% 15.02% 22.14% 21.06%
Return on Invested Capital (ROIC)		 1.93% 3.13% 3.25% 3.77% 4.19% 9.02% 7.73% 2.34% 1.10% 2.15% 3.41%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.93% 3.13% 3.25% 3.77% 4.19% 9.02% 7.73% 2.34% 1.10% 2.15% 3.41%
Return on Net Nonoperating Assets (RNNOA)		 2.01% 3.23% 3.06% 3.81% 4.86% 11.09% 8.73% 2.43% 1.53% 3.32% 4.26%
Return on Equity (ROE)		 3.94% 6.36% 6.31% 7.58% 9.05% 20.12% 16.46% 4.77% 2.62% 5.47% 7.67%
Cash Return on Invested Capital (CROIC)		 7.88% 7.46% 3.19% -0.68% -0.77% 4.14% 8.97% 20.65% -22.01% 21.62% 6.52%
Operating Return on Assets (OROA)		 1.46% 2.36% 2.47% 2.16% 2.43% 5.17% 4.19% 1.15% 0.52% 1.09% 1.50%
Return on Assets (ROA)		 0.93% 1.44% 1.44% 1.65% 1.84% 3.88% 3.22% 0.92% 0.44% 0.85% 1.18%
Return on Common Equity (ROCE)		 3.94% 6.36% 6.31% 7.58% 9.05% 20.12% 16.46% 4.77% 2.62% 5.47% 7.67%
Return on Equity Simple (ROE_SIMPLE)		 4.23% 6.22% 6.30% 7.69% 9.12% 19.64% 16.36% 5.26% 2.72% 5.51% 7.56%
Net Operating Profit after Tax (NOPAT)		 17 26 26 31 36 81 71 19 9.38 19 26
NOPAT Margin		 11.56% 15.04% 14.82% 17.84% 19.62% 27.27% 27.36% 11.99% 7.13% 13.79% 18.60%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 67.22% 64.58% 64.54% 67.04% 65.50% 52.74% 58.83% 71.82% 76.75% 71.74% 66.68%
Operating Expenses to Revenue		 80.61% 75.05% 75.30% 77.25% 74.49% 61.53% 65.94% 84.34% 91.11% 82.41% 77.42%
Earnings before Interest and Taxes (EBIT)		 26 42 44 40 48 108 92 24 11 24 33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 32 48 49 45 52 114 98 29 14 26 36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.75 0.00 0.83
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.75 0.00 0.83
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.96 0.00 2.05
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.43 0.00 11.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.89% 0.00% 3.69%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.65% 0.00% 9.09%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.87 0.00 0.83
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6.33 0.00 4.45
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 58.03 0.00 17.54
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 75.40 0.00 18.88
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 88.72 0.00 23.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 26.11
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.53
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.13 0.94 0.94 1.09 1.23 1.23 1.07 1.04 1.78 1.32 1.18
Long-Term Debt to Equity		 1.13 0.94 0.94 1.09 1.23 1.23 1.07 1.04 1.78 1.32 1.18
Financial Leverage		 1.04 1.03 0.94 1.01 1.16 1.23 1.13 1.04 1.40 1.55 1.25
Leverage Ratio		 4.21 4.43 4.37 4.58 4.93 5.18 5.12 5.20 5.94 6.47 6.49
Compound Leverage Factor		 4.21 4.43 4.37 4.58 4.93 5.18 5.12 5.20 5.94 6.47 6.49
Debt to Total Capital		 52.96% 48.53% 48.38% 52.12% 55.12% 55.15% 51.63% 51.08% 63.98% 56.83% 54.13%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 52.96% 48.53% 48.38% 52.12% 55.12% 55.15% 51.63% 51.08% 63.98% 56.83% 54.13%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 47.04% 51.47% 51.62% 47.88% 44.88% 44.85% 48.37% 48.92% 36.02% 43.17% 45.87%
Debt to EBITDA		 13.74 8.09 7.85 9.67 9.25 4.47 4.86 13.57 42.63 16.87 11.45
Net Debt to EBITDA		 10.61 7.11 6.86 7.75 7.83 3.63 1.22 11.93 40.09 15.36 9.48
Long-Term Debt to EBITDA		 13.74 8.09 7.85 9.67 9.25 4.47 4.86 13.57 42.63 16.87 11.45
Debt to NOPAT		 26.63 15.16 14.88 14.15 13.47 6.26 6.74 19.85 65.18 23.89 15.61
Net Debt to NOPAT		 20.56 13.31 13.01 11.35 11.40 5.09 1.70 17.45 61.29 21.77 12.92
Long-Term Debt to NOPAT		 26.63 15.16 14.88 14.15 13.47 6.26 6.74 19.85 65.18 23.89 15.61
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 68 61 25 -5.58 -6.62 37 82 172 -188 188 50
Operating Cash Flow to CapEx		 -438.00% -2,217.70% 6,791.19% 1,047.53% -1,291.55% -7,639.35% 18,252.70% 29,481.46% -3,939.57% 4,373.34% 2,075.79%
Free Cash Flow to Firm to Interest Expense		 2.93 3.00 1.55 -0.29 -0.24 1.49 5.71 12.95 -3.85 2.81 0.85
Operating Cash Flow to Interest Expense		 -0.56 -1.19 6.55 2.13 -1.46 -3.75 9.88 15.55 -0.56 0.72 0.41
Operating Cash Flow Less CapEx to Interest Expense		 -0.69 -1.24 6.45 1.92 -1.57 -3.79 9.83 15.50 -0.58 0.70 0.39
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.08 0.10 0.10 0.09 0.09 0.14 0.12 0.08 0.06 0.06 0.06
Fixed Asset Turnover		 5.63 6.93 7.52 7.26 7.38 12.21 11.25 7.49 6.39 6.88 7.42
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 833 798 798 835 877 921 910 757 955 786 762
Invested Capital Turnover		 0.17 0.21 0.22 0.21 0.21 0.33 0.28 0.20 0.15 0.16 0.18
Increase / (Decrease) in Invested Capital		 -51 -35 0.54 36 43 44 -11 -153 198 -169 -24
Enterprise Value (EV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 832 0.00 631
Market Capitalization		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 257 0.00 290
Book Value per Share		 $13.32 $13.98 $13.97 $13.86 $14.50 $16.42 $17.93 $16.70 $16.72 $17.51 $18.93
Tangible Book Value per Share		 $13.32 $13.98 $13.97 $13.86 $14.50 $16.42 $17.93 $16.70 $16.72 $17.51 $18.93
Total Capital		 833 798 798 835 877 921 924 757 955 786 762
Total Debt		 441 387 386 435 484 508 477 387 611 447 412
Total Long-Term Debt		 441 387 386 435 484 508 477 387 611 447 412
Net Debt		 341 340 338 349 409 413 120 340 575 407 341
Capital Expenditures (CapEx)		 2.97 1.09 1.58 3.96 3.11 1.23 0.78 0.70 0.70 1.10 1.17
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 441 387 386 435 484 508 463 387 611 447 412
Total Depreciation and Amortization (D&A)		 6.29 5.84 4.79 4.73 4.70 5.61 6.05 4.03 3.30 2.47 2.55
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.57 $0.94 $0.95 $1.12 $1.38 $3.32 $2.98 $0.89 $0.47 $1.01 $1.48
Adjusted Weighted Average Basic Shares Outstanding		 29.16M 27.04M 27.47M 27.36M 26.02M 24.46M 23.74M 21.88M 20.16M 18.56M 17.84M
Adjusted Diluted Earnings per Share		 $0.56 $0.93 $0.93 $1.11 $1.37 $3.30 $2.96 $0.89 $0.46 $1.01 $1.48
Adjusted Weighted Average Diluted Shares Outstanding		 29.43M 27.37M 27.90M 27.63M 26.25M 24.61M 23.93M 22.01M 20.20M 18.59M 17.87M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.95 $1.12 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 29.22M 29.45M 29.39M 28.09M 0.00 25.12M 24.23M 22.06M 20.05M 19.32M 18.36M
Normalized Net Operating Profit after Tax (NOPAT)		 17 26 26 31 36 81 71 19 9.38 19 26
Normalized NOPAT Margin		 11.56% 15.04% 14.82% 17.84% 19.62% 27.27% 27.36% 11.99% 7.13% 13.79% 18.60%
Pre Tax Income Margin		 18.02% 24.73% 25.37% 23.37% 26.00% 36.34% 35.60% 15.06% 8.40% 17.72% 23.57%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.12 2.07 2.72 2.06 1.73 4.33 6.41 1.84 0.23 0.36 0.56
NOPAT to Interest Expense		 0.72 1.26 1.59 1.58 1.30 3.25 4.93 1.47 0.19 0.28 0.44
EBIT Less CapEx to Interest Expense		 0.99 2.02 2.62 1.86 1.61 4.28 6.36 1.79 0.21 0.34 0.54
NOPAT Less CapEx to Interest Expense		 0.59 1.20 1.49 1.37 1.19 3.20 4.87 1.41 0.18 0.26 0.43
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 35.42% 27.09% 103.81% 87.96% 72.31% 38.84% 42.93% 155.28% 163.87% 60.30% 40.78%
Augmented Payout Ratio		 474.45% 42.20% 112.24% 150.37% 135.72% 83.51% 57.30% 400.73% 441.55% 140.11% 102.18%

Quarterly Metrics And Ratios for Waterstone Financial

This table displays calculated financial ratios and metrics derived from Waterstone Financial's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 21,297,620.00 20,576,571.00 20,052,831.00 19,643,741.00 19,457,364.00 19,373,139.00 19,319,808.00 19,075,518.00 18,679,165.00 18,456,918.00 18,359,930.00
DEI Adjusted Shares Outstanding		 21,297,620.00 20,576,571.00 20,052,831.00 19,643,741.00 19,457,364.00 19,373,139.00 19,319,808.00 19,075,518.00 18,679,165.00 18,456,918.00 18,359,930.00
DEI Earnings Per Adjusted Shares Outstanding		 0.15 0.00 0.15 0.29 0.24 0.27 0.16 0.41 0.42 0.42 0.33
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -20.05% -12.46% 0.11% 2.70% -0.44% 11.20% -8.37% 2.32% 8.72% 16.74% 20.28%
EBITDA Growth		 -51.88% -72.59% 46.07% 33.36% 77.14% 1,452.28% -12.60% 31.56% 56.96% 57.94% 84.43%
EBIT Growth		 -44.61% -190.29% 71.39% 40.26% 56.83% 1,143.03% -18.60% 35.38% 67.24% 61.96% 94.59%
NOPAT Growth		 -38.27% -144.50% 40.97% 42.55% 45.34% 1,350.90% -0.07% 35.28% 67.64% 48.04% 97.53%
Net Income Growth		 -38.27% -104.27% 40.97% 42.55% 45.34% 13,125.00% -0.07% 35.28% 67.64% 48.04% 97.53%
EPS Growth		 -36.00% 0.00% 60.00% 55.00% 62.50% 0.00% 6.25% 38.71% 73.08% 53.57% 100.00%
Operating Cash Flow Growth		 0.00% -101.40% 71.54% 1.40% 53.03% 2,445.35% 369.10% 2.71% -55.84% -86.46% -102.42%
Free Cash Flow Firm Growth		 -203.59% -229.10% 19.74% 93.51% 115.69% 188.10% 334.19% 1,110.81% 159.21% -81.84% -107.58%
Invested Capital Growth		 34.21% 26.13% 12.06% 2.59% -3.44% -17.74% -24.17% -18.94% -9.71% -3.06% 3.26%
Revenue Q/Q Growth		 -5.47% -16.33% 13.11% 14.79% -8.36% -6.54% -6.81% 28.19% -2.62% 0.35% -3.98%
EBITDA Q/Q Growth		 -35.63% -88.33% 1,099.54% 47.98% -14.50% 2.27% -32.46% 122.76% 2.01% 2.90% -21.13%
EBIT Q/Q Growth		 -26.30% -115.85% 901.34% 49.79% -17.59% 5.44% -37.46% 149.14% 1.81% 2.10% -24.86%
NOPAT Q/Q Growth		 -18.82% -112.80% 829.41% 88.02% -17.23% 10.19% -41.73% 154.51% 2.58% -2.69% -22.25%
Net Income Q/Q Growth		 -18.82% -101.23% 7,695.00% 88.02% -17.23% 10.19% -41.73% 154.51% 2.58% -2.69% -22.25%
EPS Q/Q Growth		 -20.00% 0.00% 0.00% 93.75% -16.13% 7.69% -39.29% 152.94% 4.65% -4.44% -20.93%
Operating Cash Flow Q/Q Growth		 0.00% -102.06% -894.79% -297.65% 287.48% -68.38% 14.14% -243.77% 185.09% -90.30% -120.39%
Free Cash Flow Firm Q/Q Growth		 21.49% 15.59% 48.74% 80.89% 289.73% 374.09% 36.25% -17.52% -51.35% -66.79% -156.86%
Invested Capital Q/Q Growth		 -3.75% 2.23% 1.79% 2.43% -9.40% -12.91% -6.17% 9.50% 0.91% -6.50% -0.05%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 10.97% 1.53% 16.22% 20.91% 19.51% 21.35% 15.48% 26.89% 28.17% 28.89% 23.73%
EBIT Margin		 10.97% -2.08% 14.72% 19.21% 17.28% 19.49% 13.08% 25.42% 26.58% 27.04% 21.16%
Profit (Net Income) Margin		 9.51% -0.14% 9.38% 15.36% 13.88% 16.36% 10.23% 20.31% 21.40% 20.75% 16.80%
Tax Burden Percent		 86.68% 6.72% 63.72% 79.98% 80.33% 83.95% 78.23% 79.92% 80.52% 76.74% 79.41%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 13.32% 0.00% 36.28% 20.02% 19.67% 16.05% 21.77% 20.08% 19.48% 23.26% 20.59%
Return on Invested Capital (ROIC)		 0.00% -0.22% 1.34% 2.07% 2.00% 2.55% 1.59% 3.01% 3.41% 3.81% 3.32%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -0.15% 1.34% 2.07% 2.00% 2.55% 1.59% 3.01% 3.41% 3.81% 3.32%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -0.21% 2.16% 3.82% 3.33% 3.94% 2.41% 5.01% 5.10% 4.75% 3.89%
Return on Equity (ROE)		 0.00% -0.43% 3.50% 5.89% 5.33% 6.49% 4.00% 8.03% 8.50% 8.55% 7.21%
Cash Return on Invested Capital (CROIC)		 0.00% -22.01% -10.26% -1.34% 4.96% 21.62% 29.68% 23.21% 12.99% 6.52% 0.71%
Operating Return on Assets (OROA)		 0.00% -0.13% 0.89% 1.13% 1.02% 1.19% 0.79% 1.49% 1.61% 1.72% 1.41%
Return on Assets (ROA)		 0.00% -0.01% 0.57% 0.90% 0.82% 1.00% 0.62% 1.19% 1.30% 1.32% 1.12%
Return on Common Equity (ROCE)		 0.00% -0.43% 3.50% 5.89% 5.33% 6.49% 4.00% 8.03% 8.50% 8.55% 7.21%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 3.03% 3.57% 3.93% 0.00% 5.47% 6.06% 6.92% 0.00% 8.43%
Net Operating Profit after Tax (NOPAT)		 3.25 -0.42 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
NOPAT Margin		 9.51% -1.45% 9.38% 15.36% 13.88% 16.36% 10.23% 20.31% 21.40% 20.75% 16.80%
Net Nonoperating Expense Percent (NNEP)		 0.00% -0.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 75.18% 84.95% 74.43% 69.99% 73.67% 68.98% 70.47% 65.55% 65.18% 66.30% 66.36%
Operating Expenses to Revenue		 87.73% 103.60% 85.07% 81.39% 83.83% 79.36% 88.80% 74.60% 74.15% 74.46% 78.10%
Earnings before Interest and Taxes (EBIT)		 3.75 -0.60 4.77 7.14 5.89 6.21 3.88 9.67 9.84 10 7.55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.75 0.44 5.25 7.78 6.65 6.80 4.59 10 10 11 8.47
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.75 0.65 0.67 0.75 0.69 0.68 0.72 0.79 0.83 0.89
Price to Tangible Book Value (P/TBV)		 0.00 0.75 0.65 0.67 0.75 0.69 0.68 0.72 0.79 0.83 0.89
Price to Revenue (P/Rev)		 0.00 1.96 1.66 1.69 1.94 1.73 1.76 1.84 2.00 2.05 2.10
Price to Earnings (P/E)		 0.00 27.43 21.28 18.75 19.09 12.55 12.50 11.88 11.42 11.00 10.60
Dividend Yield		 0.00% 5.89% 6.10% 5.38% 4.31% 4.75% 4.70% 4.39% 3.88% 3.69% 3.36%
Earnings Yield		 0.00% 3.65% 4.70% 5.33% 5.24% 7.97% 8.00% 8.42% 8.76% 9.09% 9.43%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.87 0.83 0.85 0.86 0.82 0.80 0.79 0.84 0.83 0.89
Enterprise Value to Revenue (EV/Rev)		 0.00 6.33 6.14 6.37 5.86 4.73 4.42 4.80 5.04 4.45 4.59
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 58.03 50.45 47.05 38.54 24.22 22.71 22.67 21.47 17.54 17.05
Enterprise Value to EBIT (EV/EBIT)		 0.00 75.40 61.97 56.00 45.07 26.72 25.36 24.99 23.25 18.88 18.31
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 88.72 78.65 70.54 57.69 34.32 31.37 30.95 28.80 23.92 23.15
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 32.80 13.34 6.92 7.47 15.49 26.11 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 17.02 3.41 2.31 3.06 6.17 12.53 127.51
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.70 1.78 1.88 1.97 1.64 1.32 1.16 1.36 1.36 1.18 1.19
Long-Term Debt to Equity		 1.70 1.78 1.88 1.97 1.64 1.32 1.16 1.36 1.36 1.18 1.19
Financial Leverage		 1.26 1.40 1.61 1.85 1.67 1.55 1.52 1.67 1.50 1.25 1.17
Leverage Ratio		 5.81 5.94 6.18 6.54 6.49 6.47 6.49 6.72 6.57 6.49 6.42
Compound Leverage Factor		 5.81 5.94 6.18 6.54 6.49 6.47 6.49 6.72 6.57 6.49 6.42
Debt to Total Capital		 62.93% 63.98% 65.23% 66.36% 62.09% 56.83% 53.70% 57.70% 57.58% 54.13% 54.26%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 62.93% 63.98% 65.23% 66.36% 62.09% 56.83% 53.70% 57.70% 57.58% 54.13% 54.26%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 37.07% 36.02% 34.77% 33.64% 37.91% 43.17% 46.30% 42.30% 42.42% 45.87% 45.74%
Debt to EBITDA		 0.00 42.63 39.66 36.85 27.85 16.87 15.33 16.48 14.63 11.45 10.36
Net Debt to EBITDA		 0.00 40.09 36.80 34.54 25.79 15.36 13.66 13.97 12.96 9.48 9.24
Long-Term Debt to EBITDA		 0.00 42.63 39.66 36.85 27.85 16.87 15.33 16.48 14.63 11.45 10.36
Debt to NOPAT		 0.00 65.18 61.82 55.24 41.68 23.89 21.18 22.50 19.63 15.61 14.07
Net Debt to NOPAT		 0.00 61.29 57.36 51.79 38.60 21.77 18.87 19.07 17.38 12.92 12.55
Long-Term Debt to NOPAT		 0.00 65.18 61.82 55.24 41.68 23.89 21.18 22.50 19.63 15.61 14.07
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -235 -198 -102 -19 37 175 238 196 95 32 -18
Operating Cash Flow to CapEx		 0.00% -239.57% -2,548.21% -24,545.34% 38,190.21% 6,618.64% 10,091.70% -65,166.10% 11,089.83% 581.14% -65.29%
Free Cash Flow to Firm to Interest Expense		 -16.32 -13.27 -6.44 -1.12 2.08 10.77 15.68 13.11 6.45 2.20 -1.33
Operating Cash Flow to Interest Expense		 0.00 -0.07 -0.63 -2.28 4.19 1.44 1.76 -2.57 2.21 0.22 -0.05
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -0.09 -0.66 -2.29 4.18 1.42 1.74 -2.57 2.19 0.18 -0.12
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.07
Fixed Asset Turnover		 0.00 6.39 6.47 6.62 6.70 6.88 6.78 6.93 7.15 7.42 7.69
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 934 955 972 996 902 786 737 807 815 762 761
Invested Capital Turnover		 0.00 0.15 0.14 0.13 0.14 0.16 0.16 0.15 0.16 0.18 0.20
Increase / (Decrease) in Invested Capital		 238 198 105 25 -32 -169 -235 -189 -88 -24 24
Enterprise Value (EV)		 0.00 832 807 844 775 641 586 641 688 631 680
Market Capitalization		 0.00 257 218 224 257 235 234 246 273 290 311
Book Value per Share		 $16.26 $16.72 $16.86 $17.05 $17.58 $17.51 $17.67 $17.90 $18.50 $18.93 $18.97
Tangible Book Value per Share		 $16.26 $16.72 $16.86 $17.05 $17.58 $17.51 $17.67 $17.90 $18.50 $18.93 $18.97
Total Capital		 934 955 972 996 902 786 737 807 815 762 761
Total Debt		 588 611 634 661 560 447 396 466 469 412 413
Total Long-Term Debt		 588 611 634 661 560 447 396 466 469 412 413
Net Debt		 526 575 588 620 519 407 353 395 415 341 368
Capital Expenditures (CapEx)		 0.00 0.42 0.39 0.16 0.19 0.35 0.27 0.06 0.30 0.55 0.99
Net Nonoperating Expense (NNE)		 0.00 -0.38 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 588 611 634 661 560 447 396 466 469 412 413
Total Depreciation and Amortization (D&A)		 0.00 1.03 0.49 0.63 0.76 0.59 0.71 0.56 0.59 0.69 0.92
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.16 $0.01 $0.16 $0.31 $0.26 $0.28 $0.17 $0.43 $0.45 $0.43 $0.35
Adjusted Weighted Average Basic Shares Outstanding		 20.00M 20.16M 19.02M 18.52M 18.35M 18.56M 18.27M 17.99M 17.64M 17.84M 17.37M
Adjusted Diluted Earnings per Share		 $0.16 $0.00 $0.16 $0.31 $0.26 $0.28 $0.17 $0.43 $0.45 $0.43 $0.34
Adjusted Weighted Average Diluted Shares Outstanding		 20.02M 20.20M 19.04M 18.57M 18.45M 18.59M 18.28M 18.00M 17.67M 17.87M 17.43M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 20.58M 20.05M 19.64M 19.46M 19.37M 19.32M 19.08M 18.68M 18.46M 18.36M 18.05M
Normalized Net Operating Profit after Tax (NOPAT)		 3.25 -0.42 3.04 5.71 4.73 5.21 3.04 7.73 7.93 7.71 6.00
Normalized NOPAT Margin		 9.51% -1.45% 9.38% 15.36% 13.88% 16.36% 10.23% 20.31% 21.40% 20.75% 16.80%
Pre Tax Income Margin		 10.97% -2.08% 14.72% 19.21% 17.28% 19.49% 13.08% 25.42% 26.58% 27.04% 21.16%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.26 -0.04 0.30 0.41 0.33 0.38 0.26 0.65 0.66 0.70 0.56
NOPAT to Interest Expense		 0.23 -0.03 0.19 0.33 0.27 0.32 0.20 0.52 0.53 0.54 0.44
EBIT Less CapEx to Interest Expense		 0.00 -0.07 0.28 0.40 0.32 0.36 0.24 0.64 0.64 0.66 0.48
NOPAT Less CapEx to Interest Expense		 0.00 -0.06 0.17 0.32 0.26 0.30 0.18 0.51 0.52 0.50 0.37
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 163.87% 137.60% 107.03% 85.30% 60.30% 59.20% 53.04% 45.57% 40.78% 36.32%
Augmented Payout Ratio		 0.00% 441.55% 386.55% 307.52% 221.51% 140.11% 127.39% 118.09% 113.71% 102.18% 95.69%

Financials Breakdown Chart

Key Financial Trends

Waterstone Financial (NASDAQ: WSBF) showed a mixed but generally stable operating picture in Q1 2026, with solid profitability offset by weak operating cash flow and a meaningful drop in net cash.

On the income statement, WSBF generated $6.0 million in net income in Q1 2026, down from $7.7 million in Q4 2025 and slightly below $7.9 million in Q3 2025. Revenue also slipped sequentially to $35.7 million from $37.2 million in Q4 2025. Even so, the company remained profitable and produced a strong 0.34 diluted EPS.

The more concerning trend came from cash generation. WSBF reported negative operating cash flow of $647,000 in Q1 2026, a sharp reversal from $3.2 million in Q4 2025 and $32.7 million in Q3 2025. The quarter was pressured by a large $7.7 million negative swing in operating assets and liabilities, which overwhelmed reported earnings. That suggests earnings quality was weaker than headline net income implies.

Investing activity also consumed a large amount of cash, with $15.9 million of net cash used in Q1 2026, largely due to purchases of investment securities. Financing activity was also negative at $9.9 million, driven by debt repayment, share repurchases, and dividends. As a result, WSBF’s net cash and equivalents declined by $26.5 million during the quarter.

On the balance sheet, the company remained fairly well capitalized, with $2.25 billion in total assets and $348.2 million in common equity at March 31, 2026. Loans and leases net of allowance were $1.67 billion, down modestly from late 2025, while deposits rose to $1.45 billion. Debt also edged lower to $413.0 million from $469.1 million at the end of Q3 2025, which is a positive sign on leverage.

Looking at the broader 12-month pattern, WSBF has generally maintained profitability, with quarterly net income mostly in the $3 million to $8 million range over the past year, but cash flow has been volatile. In particular, operating cash flow swung from strongly positive in several quarters to negative in Q1 2026, which retail investors should watch closely.

  • WSBF remained profitable in Q1 2026, reporting $6.0 million of net income and $0.34 diluted EPS.
  • Total assets increased to $2.25 billion, showing a stable asset base.
  • Debt declined to $413.0 million from $469.1 million at the end of Q3 2025.
  • Deposits increased quarter over quarter, helping support funding stability.
  • Allowance for loan losses remained in place at $17.7 million, indicating some credit-loss coverage.
  • Net interest income was $15.5 million, slightly below Q4 2025 but still solid.
  • Non-interest income stayed strong at $20.2 million, aided by service charges and other fee income.
  • The company continued returning capital through dividends and share repurchases.
  • Operating cash flow turned negative at -$647,000 in Q1 2026.
  • Cash and equivalents fell by $26.5 million during the quarter.

Bottom line: WSBF’s earnings remain profitable and its balance sheet appears manageable, but the sharp deterioration in operating cash flow is the main red flag in Q1 2026. Investors will want to see whether this was a one-quarter fluctuation or the start of a weaker cash generation trend.

07/24/26 04:08 PM ETAI Generated. May Contain Errors.

Waterstone Financial Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Waterstone Financial's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Here's a snapshot of Waterstone Financial's net income over the last 5 years:
  • 2021: $70.79 million
  • 2022: $19.49 million
  • 2023: $9.38 million
  • 2024: $18.69 million
  • 2025: $26.40 million
Find out what analysts predict for Waterstone Financial in the coming months.

Over the last 10 years, Waterstone Financial's total revenue changed from $143.32 million in 2015 to $141.92 million in 2025, a change of -1.0%.

Waterstone Financial's total liabilities were at $1.91 billion at the end of 2025, a 2.1% increase from 2024, and a 39.3% increase since 2015.

In the past 10 years, Waterstone Financial's cash and equivalents has ranged from $7.88 million in 2016 to $343.02 million in 2021, and is currently $63.56 million as of their latest financial filing in 2025.

Over the last 10 years, Waterstone Financial's book value per share changed from 13.32 in 2015 to 18.93 in 2025, a change of 42.1%.


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Financial statements for NASDAQ:WSBF last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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