Western Alliance Bancorporation (WAL) Financials

$76.33 -1.23 (-1.59%)

Closing price 08/1/2025 03:59 PM Eastern

Extended Trading

$76.21 -0.12 (-0.15%)

As of 08/1/2025 07:56 PM Eastern

Annual Income Statements for Western Alliance Bancorporation

This table shows Western Alliance Bancorporation'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
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
Net Income / (Loss) Attributable to Common Shareholders	193	260	325	436	499	507	896	1,045	710	775
Consolidated Net Income / (Loss)	194	260	325	436	499	507	899	1,057	722	788
Net Income / (Loss) Continuing Operations	194	260	325	436	499	507	899	1,057	722	788
Total Pre-Tax Income	259	361	452	510	604	623	1,123	1,316	934	991
Total Revenue	522	700	830	959	1,106	1,238	1,953	2,541	2,620	3,162
Net Interest Income / (Expense)	493	657	785	916	1,040	1,167	1,549	2,216	2,339	2,619
Total Interest Income	525	701	846	1,034	1,225	1,262	1,659	2,692	4,035	4,541
Loans and Leases Interest Income	476	637	748	911	1,093	1,144	1,489	2,393	3,410	3,629
Investment Securities Interest Income	48	62	91	123	132	118	170	298	626	912
Total Interest Expense	33	43	61	118	185	95	110	476	1,696	1,922
Deposits Interest Expense	22	30	42	91	158	70	48	276	1,143	1,600
Long-Term Debt Interest Expense	11	14	19	22	23	24	33	35	38	38
Other Interest Expense	-	-	-	-	2.80	0.60	29	164	516	284
Total Non-Interest Income	30	43	45	43	65	71	404	325	281	543
Other Service Charges	22	27	29	33	33	39	41	220	224	246
Net Realized & Unrealized Capital Gains on Investments	2.63	7.15	10	2.20	17	17	363	100	52	269
Other Non-Interest Income	5.29	9.06	6.07	8.20	16	15	1.10	4.60	4.50	28
Provision for Credit Losses	3.20	8.00	17	25	19	124	-21	68	63	146
Total Non-Interest Expense	261	331	361	424	482	492	851	1,157	1,623	2,025
Salaries and Employee Benefits	150	189	214	253	279	304	467	540	566	631
Net Occupancy & Equipment Expense	38	47	47	52	63	70	102	139	188	223
Marketing Expense	2.89	9.50	9.93	9.80	11	9.60	14	22	22	33
Property & Liability Insurance Claims	19	25	30	29	37	42	59	100	107	109
Insurance Policy Acquisition Costs	-	-	-	-	0.00	0.00	54	56	59	68
Other Operating Expenses	41	46	58	78	91	66	136	301	734	961
Other Special Charges	-	-	-	-	-	-	5.90	0.00	-53	0.00
Income Tax Expense	64	101	126	75	105	116	224	259	211	204
Preferred Stock Dividends Declared	0.75	-	-	-	0.00	0.00	3.50	13	13	13
Basic Earnings per Share	$2.05	$2.52	$3.12	$4.16	$4.86	$5.06	$8.72	$9.74	$6.55	$7.14
Weighted Average Basic Shares Outstanding	94.57M	103.04M	104.18M	104.70M	102.70M	100.20M	102.70M	107.20M	108.30M	108.60M
Diluted Earnings per Share	$2.03	$2.50	$3.10	$4.14	$4.84	$5.04	$8.67	$9.70	$6.54	$7.09
Weighted Average Diluted Shares Outstanding	95.22M	103.84M	105.00M	105.40M	103.10M	100.50M	103.30M	107.60M	108.50M	109.30M
Weighted Average Basic & Diluted Shares Outstanding	94.40M	103.10M	104.30M	104.80M	102.48M	107.00M	107.00M	109.61M	110.18M	110.45M
Cash Dividends to Common per Share	$0.00	$0.00	-	-	$0.25	$0.25	$1.20	$1.42	$1.45	$1.49

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	261	290	139	213	213	145	174	190	197	214	196
Consolidated Net Income / (Loss)	264	293	142	216	217	148	177	194	200	217	199
Net Income / (Loss) Continuing Operations	264	288	142	216	217	148	177	194	200	217	199
Total Pre-Tax Income	330	365	185	260	278	211	232	248	252	259	246
Total Revenue	664	699	552	669	716	682	729	772	823	838	778
Net Interest Income / (Expense)	602	640	610	550	587	592	599	657	697	667	651
Total Interest Income	739	888	969	1,001	1,027	1,039	1,055	1,148	1,200	1,139	1,096
Loans and Leases Interest Income	657	785	833	857	861	859	872	897	945	915	881
Investment Securities Interest Income	82	103	136	144	166	180	183	251	255	223	215
Total Interest Expense	137	249	359	451	440	447	456	491	503	472	445
Deposits Interest Expense	78	158	232	251	316	344	381	410	422	387	378
Long-Term Debt Interest Expense	8.90	-22	9.30	9.50	9.50	9.60	9.50	9.60	9.50	9.40	9.30
Other Interest Expense	51	-	118	190	114	94	66	71	72	76	57
Total Non-Interest Income	62	62	-58	119	129	91	130	115	126	172	127
Other Service Charges	17	102	60	50	36	79	62	57	49	78	68
Net Realized & Unrealized Capital Gains on Investments	16	-7.80	-124	63	66	47	61	52	65	91	48
Other Non-Interest Income	28	-34	6.20	6.00	27	-35	6.50	6.70	12	2.30	11
Provision for Credit Losses	29	3.10	19	22	12	9.30	15	37	34	60	31
Total Non-Interest Expense	306	333	348	387	426	462	482	487	537	519	500
Salaries and Employee Benefits	137	126	149	146	137	135	155	153	158	165	182
Net Occupancy & Equipment Expense	36	40	43	44	51	50	54	54	56	59	62
Marketing Expense	5.00	7.30	5.20	5.00	4.90	6.70	5.50	6.40	9.70	11	5.90
Property & Liability Insurance Claims	25	26	23	26	28	29	30	26	25	29	29
Insurance Policy Acquisition Costs	15	15	14	18	12	15	15	17	19	18	16
Other Operating Expenses	89	120	127	149	193	266	223	231	270	237	204
Income Tax Expense	66	72	42	44	61	63	54	54	52	43	47
Preferred Stock Dividends Declared	3.20	3.20	3.20	3.20	3.20	3.20	3.20	3.20	3.20	3.20	3.20
Basic Earnings per Share	$2.43	$2.68	$1.29	$1.96	$1.97	$1.33	$1.61	$1.75	$1.81	$1.97	$1.80
Weighted Average Basic Shares Outstanding	107.50M	107.20M	108.10M	108.30M	108.30M	108.30M	108.50M	108.60M	108.70M	108.60M	108.80M
Diluted Earnings per Share	$2.42	$2.67	$1.28	$1.96	$1.97	$1.33	$1.60	$1.75	$1.80	$1.94	$1.79
Weighted Average Diluted Shares Outstanding	107.90M	107.60M	108.30M	108.30M	108.50M	108.50M	109M	109.10M	109.50M	109.30M	109.60M
Weighted Average Basic & Diluted Shares Outstanding	108.91M	109.61M	109.50M	109.50M	109.47M	110.18M	110.11M	110.09M	110.07M	110.45M	110.40M
Cash Dividends to Common per Share	$0.36	$0.36	$0.36	$0.36	$0.36	$0.37	$0.37	$0.37	$0.37	$0.38	$0.38

This table details how cash moves in and out of Western Alliance Bancorporation'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
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
Net Change in Cash & Equivalents	60	60	132	82	-64	2,237	-2,155	527	533	2,520
Net Cash From Operating Activities	220	281	384	541	718	670	-2,654	2,245	-329	-2,742
Net Cash From Continuing Operating Activities	220	281	384	541	723	674	-2,654	2,245	-329	-2,742
Net Income / (Loss) Continuing Operations	194	260	325	436	499	507	899	1,057	722	788
Consolidated Net Income / (Loss)	194	260	325	436	499	507	899	1,057	722	788
Provision For Loan Losses	3.20	8.00	17	25	19	124	-21	68	63	146
Depreciation Expense	8.47	12	13	14	19	23	34	52	63	94
Amortization Expense	8.35	5.02	16	9.70	26	26	39	33	-80	-194
Non-Cash Adjustments to Reconcile Net Income	16	21	105	14	21	9.20	-3,447	1,073	-1,211	-3,841
Changes in Operating Assets and Liabilities, net	-9.74	-25	-94	43	138	-15	-158	-39	115	265
Net Cash From Investing Activities	-1,366	-2,890	-2,956	-2,713	-3,723	-7,538	-14,712	-13,130	-2,159	-5,967
Net Cash From Continuing Investing Activities	-1,366	-2,890	-2,956	-2,713	-3,723	-7,538	-14,712	-13,130	-2,159	-5,967
Purchase of Investment Securities	-2,162	-2,155	-3,526	-3,352	-4,705	-9,241	-17,774	-14,425	-14,600	-21,757
Sale and/or Maturity of Investments	454	536	570	638	982	1,703	3,062	1,295	12,440	15,790
Net Cash From Financing Activities	1,206	2,669	2,704	2,254	2,941	9,104	15,211	11,412	3,020	11,229
Net Cash From Continuing Financing Activities	1,206	2,669	2,704	2,254	2,941	9,104	15,211	11,412	3,020	11,229
Net Change in Deposits	1,358	2,519	2,423	2,205	3,619	9,134	15,682	6,032	1,689	11,002
Issuance of Debt	148	169	294	0.00	0.00	222	1,056	578	5,013	3,000
Issuance of Common Equity	28	56	-	-	0.00	0.00	540	158	0.10	0.10
Repayment of Debt	-257	-66	-	97	-497	-71	-2,218	4,828	-3,499	-2,588
Payment of Dividends	-0.75	-	0.00	0.00	-51	-101	-128	-166	-172	-177
Other Financing Activities, Net	0.21	-8.41	-13	-12	-9.60	-7.90	-16	-19	-11	-8.70
Cash Interest Paid	29	42	60	114	180	109	112	453	1,581	1,942
Cash Income Taxes Paid	55	61	99	19	-23	44	176	198	64	1.30

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	-780	-566	2,596	-1,486	1,344	-1,921	1,974	528	-1,485	1,504	-817
Net Cash From Operating Activities	491	794	357	-457	-570	341	-307	-746	-1,068	-622	-1,654
Net Cash From Continuing Operating Activities	-13	794	357	-457	-570	341	-307	-746	-1,068	-622	-1,654
Net Income / (Loss) Continuing Operations	264	293	142	216	217	148	177	194	200	217	199
Consolidated Net Income / (Loss)	264	293	142	216	217	148	177	194	200	217	199
Provision For Loan Losses	29	3.10	19	22	12	9.30	15	37	34	60	31
Depreciation Expense	13	16	17	18	9.90	19	21	21	22	30	25
Amortization Expense	7.10	4.40	-3.30	-8.20	-12	-57	-53	-64	-47	-30	-18
Non-Cash Adjustments to Reconcile Net Income	-341	473	246	-662	-997	202	-755	-809	-1,252	-1,026	-1,727
Changes in Operating Assets and Liabilities, net	15	5.10	-63	-42	201	20	287	-125	-24	127	-164
Net Cash From Investing Activities	-3,928	491	-1,347	1,714	-646	-1,880	-3,648	-2,512	-395	587	-1,593
Net Cash From Continuing Investing Activities	-3,913	491	-1,347	1,714	-646	-1,879	-3,648	-2,512	-395	587	-1,593
Purchase of Investment Securities	-4,103	298	-2,180	-1,530	-1,467	-9,422	-6,503	-6,600	-5,420	-3,234	-3,861
Sale and/or Maturity of Investments	189	193	833	3,244	821	7,542	2,855	4,088	5,025	3,821	2,268
Net Cash From Financing Activities	3,161	-1,851	3,586	-2,742	2,559	-382	5,928	3,785	-23	1,538	2,430
Net Cash From Continuing Financing Activities	3,161	-1,851	3,586	-2,742	2,559	-382	5,928	3,785	-23	1,538	2,430
Net Change in Deposits	1,877	-1,945	-6,057	3,454	3,246	1,046	6,896	4,015	1,797	-1,705	2,979
Issuance of Debt	1,285	-4,717	9,953	-8,339	1,359	2,040	-911	-179	-1,768	5,857	1,220
Issuance of Common Equity	50	-	-	-	-	-2,662	-	-	-	0.10	293
Repayment of Debt	-7.40	4,853	-257	-476	-2,003	-763	-5.40	-7.10	-6.60	-2,569	-2,006
Payment of Dividends	-42	-42	-43	-43	-43	-44	-44	-44	-44	-45	-45
Other Financing Activities, Net	-0.90	-0.10	-11	-0.20	-	-0.10	-7.80	0.20	-1.10	-	-11
Cash Interest Paid	124	242	330	411	368	473	439	496	501	506	442
Cash Income Taxes Paid	5.70	6.90	-7.50	52	13	6.60	-145	98	20	29	24

This table presents Western Alliance Bancorporation'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
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
Total Assets	14,275	17,201	20,329	23,109	26,822	36,461	55,983	67,734	70,862	80,934
Cash and Due from Banks	134	168	181	180	186	174	166	259	276	320
Interest Bearing Deposits at Other Banks	91	116	236	319	249	2,498	350	784	1,300	3,776
Trading Account Securities	1,984	2,703	3,755	3,695	4,486	11,205	14,724	9,720	14,114	17,381
Loans and Leases, Net of Allowance	10,994	13,065	14,954	17,558	20,934	26,767	38,823	51,552	49,960	53,302
Loans and Leases	11,113	13,190	15,094	17,711	21,102	27,053	39,075	51,862	50,297	53,676
Allowance for Loan and Lease Losses	119	125	140	153	168	286	253	310	337	374
Premises and Equipment, Net	119	120	119	119	126	134	182	276	339	361
Intangible Assets	16	13	278	379	707	299	1,266	1,304	1,242	1,265
Other Assets	625	707	519	570	629	1,145	2,111	3,839	3,631	4,529
Total Liabilities & Shareholders' Equity	14,275	17,201	20,329	23,109	26,822	36,461	55,983	67,734	70,862	80,934
Total Liabilities	12,684	15,309	18,099	20,496	23,805	33,048	51,020	62,378	64,784	74,227
Non-Interest Bearing Deposits	4,094	5,633	7,434	7,456	8,538	13,463	21,353	19,691	14,520	18,846
Interest Bearing Deposits	7,937	8,917	9,539	11,721	14,259	18,467	26,259	33,953	40,813	47,495
Short-Term Debt	188	122	416	513	17	16	17	6,299	7,230	5,573
Long-Term Debt	210	368	377	360	394	570	2,398	893	895	899
Other Long-Term Liabilities	254	270	334	444	598	547	1,010	1,542	1,326	1,414
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,592	1,892	2,230	2,614	3,017	3,414	4,963	5,356	6,078	6,708
Total Preferred & Common Equity	1,592	1,892	2,230	2,614	3,017	3,414	4,963	5,356	6,078	6,708
Preferred Stock	-	-	-	-	-	0.00	295	295	295	295
Total Common Equity	1,592	1,892	2,230	2,614	3,017	3,414	4,668	5,061	5,783	6,412
Common Stock	1,323	1,400	1,425	1,418	1,374	1,391	1,966	2,163	2,197	2,245
Retained Earnings	263	522	848	1,283	1,680	2,001	2,773	3,664	4,215	4,826
Treasury Stock	-17	-26	-40	-53	-63	-71	-87	-105	-116	-125
Accumulated Other Comprehensive Income / (Loss)	22	-4.70	-3.15	-34	25	92	16	-661	-513	-534

This table presents Western Alliance Bancorporation'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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	69,165	71,047	68,160	70,891	76,989	80,581	80,080	83,043
Cash and Due from Banks	260	229	288	289	264	272	398	440
Interest Bearing Deposits at Other Banks	1,350	3,410	1,865	3,208	3,286	3,805	2,194	2,839
Trading Account Securities	8,209	8,971	9,956	11,204	16,092	17,268	16,382	15,868
Loans and Leases, Net of Allowance	51,897	46,130	47,554	49,120	50,360	52,078	52,989	54,372
Loans and Leases	52,201	46,435	47,875	49,447	50,700	52,430	53,346	54,761
Allowance for Loan and Lease Losses	304	305	321	327	340	352	357	389
Loans Held for Sale	2,204	7,022	3,156	1,766	1,841	2,007	2,327	3,238
Premises and Equipment, Net	237	293	315	327	344	351	354	361
Intangible Assets	1,409	1,288	1,270	1,217	1,219	1,201	1,221	1,247
Other Assets	3,417	3,568	3,577	3,760	3,583	3,599	4,215	4,678
Total Liabilities & Shareholders' Equity	69,165	71,047	68,160	70,891	76,989	80,581	80,080	83,043
Total Liabilities	64,144	65,526	62,475	65,145	70,817	74,247	73,403	75,828
Non-Interest Bearing Deposits	24,926	16,465	16,733	17,991	18,399	21,522	24,965	22,009
Interest Bearing Deposits	30,663	31,122	34,308	36,296	43,829	44,722	43,075	47,313
Short-Term Debt	6,345	15,853	9,567	8,745	6,221	5,587	2,995	4,151
Long-Term Debt	889	895	888	890	896	897	898	898
Other Long-Term Liabilities	1,347	1,191	979	1,223	1,472	1,519	1,470	1,457
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,021	5,521	5,685	5,746	6,173	6,334	6,677	7,215
Total Preferred & Common Equity	5,021	5,521	5,685	5,746	6,173	6,334	6,677	6,922
Preferred Stock	295	295	295	295	295	295	295	295
Total Common Equity	4,726	5,227	5,391	5,451	5,877	6,039	6,382	6,627
Common Stock	2,154	2,170	2,180	2,189	2,211	2,224	2,235	2,261
Retained Earnings	3,413	3,764	3,937	4,111	4,348	4,498	4,654	4,980
Treasury Stock	-105	-116	-116	-116	-124	-125	-125	-136
Accumulated Other Comprehensive Income / (Loss)	-736	-592	-611	-733	-558	-558	-382	-478
Noncontrolling Interest	-	-	-	-	-	-	-	293

This table displays calculated financial ratios and metrics derived from Western Alliance Bancorporation's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
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
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	27.54%	34.04%	18.55%	15.54%	15.28%	11.96%	57.79%	30.10%	3.10%	20.71%
EBITDA Growth	41.84%	37.53%	27.19%	10.93%	21.49%	3.47%	78.08%	17.17%	-34.61%	-2.66%
EBIT Growth	30.91%	39.70%	25.10%	12.94%	18.40%	3.03%	80.40%	17.20%	-29.06%	6.17%
NOPAT Growth	30.27%	33.75%	25.29%	33.89%	14.55%	1.48%	77.50%	17.58%	-31.68%	9.04%
Net Income Growth	31.29%	33.75%	25.29%	33.89%	14.55%	1.48%	77.50%	17.58%	-31.68%	9.04%
EPS Growth	21.56%	23.15%	24.00%	33.55%	16.91%	4.13%	72.02%	11.88%	-32.58%	8.41%
Operating Cash Flow Growth	31.67%	27.33%	36.76%	40.95%	32.68%	-6.63%	-496.00%	184.60%	-114.64%	-734.45%
Free Cash Flow Firm Growth	-1,013.28%	57.50%	-140.39%	90.76%	2,018.25%	-111.72%	-3,679.88%	-65.86%	77.32%	294.26%
Invested Capital Growth	33.87%	19.66%	26.94%	15.38%	-1.74%	16.70%	84.49%	70.07%	13.19%	-7.21%
Revenue Q/Q Growth	8.81%	4.94%	4.92%	3.50%	2.87%	4.26%	12.85%	5.75%	-0.64%	5.20%
EBITDA Q/Q Growth	16.34%	0.28%	7.77%	0.01%	5.69%	15.41%	14.06%	-1.24%	-16.99%	10.68%
EBIT Q/Q Growth	9.93%	5.33%	6.65%	3.16%	2.43%	16.10%	14.08%	-1.25%	-13.97%	5.13%
NOPAT Q/Q Growth	10.29%	4.54%	6.39%	7.33%	1.83%	14.85%	6.19%	4.65%	-16.73%	9.60%
Net Income Q/Q Growth	10.29%	4.54%	6.39%	7.33%	1.83%	14.85%	6.19%	4.65%	-16.73%	9.60%
EPS Q/Q Growth	6.84%	2.88%	6.53%	7.53%	2.33%	15.33%	4.84%	3.74%	-17.01%	9.41%
Operating Cash Flow Q/Q Growth	7.59%	-3.33%	13.81%	6.29%	5.68%	5.81%	12.95%	8.68%	-363.72%	-54.12%
Free Cash Flow Firm Q/Q Growth	51.21%	-222.19%	-784.89%	-135.53%	1,660.77%	37.26%	-31.95%	11.48%	58.71%	-67.24%
Invested Capital Q/Q Growth	-7.17%	4.22%	18.79%	21.59%	3.01%	3.27%	11.81%	2.39%	-7.66%	24.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	52.71%	54.09%	58.03%	55.71%	58.72%	54.26%	61.24%	55.15%	34.98%	28.21%
EBIT Margin	49.50%	51.59%	54.44%	53.21%	54.65%	50.29%	57.50%	51.80%	35.64%	31.35%
Profit (Net Income) Margin	37.19%	37.11%	39.22%	45.44%	45.16%	40.93%	46.04%	41.61%	27.58%	24.91%
Tax Burden Percent	75.13%	71.93%	72.04%	85.40%	82.62%	81.38%	80.07%	80.34%	77.38%	79.47%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	24.87%	28.07%	27.96%	14.60%	17.38%	18.62%	19.93%	19.66%	22.62%	20.53%
Return on Invested Capital (ROIC)	11.17%	11.89%	12.05%	13.39%	14.44%	13.64%	15.81%	10.61%	5.40%	5.75%
ROIC Less NNEP Spread (ROIC-NNEP)	11.17%	11.89%	12.05%	13.39%	14.44%	13.64%	15.81%	10.61%	5.40%	5.75%
Return on Net Nonoperating Assets (RNNOA)	3.81%	3.03%	3.75%	4.61%	3.29%	2.11%	5.66%	9.88%	7.23%	6.57%
Return on Equity (ROE)	14.99%	14.92%	15.80%	18.00%	17.73%	15.76%	21.47%	20.49%	12.64%	12.32%
Cash Return on Invested Capital (CROIC)	-17.79%	-6.01%	-11.69%	-0.90%	16.19%	-1.77%	-43.59%	-41.28%	-6.97%	13.23%
Operating Return on Assets (OROA)	2.08%	2.30%	2.41%	2.35%	2.42%	1.97%	2.43%	2.13%	1.35%	1.31%
Return on Assets (ROA)	1.56%	1.65%	1.73%	2.01%	2.00%	1.60%	1.95%	1.71%	1.04%	1.04%
Return on Common Equity (ROCE)	14.58%	14.92%	15.80%	18.00%	17.73%	15.76%	20.71%	19.32%	11.98%	11.75%
Return on Equity Simple (ROE_SIMPLE)	12.21%	13.73%	14.60%	16.67%	16.55%	14.84%	18.12%	19.74%	11.88%	11.74%
Net Operating Profit after Tax (NOPAT)	194	260	325	436	499	507	899	1,057	722	788
NOPAT Margin	37.19%	37.11%	39.22%	45.44%	45.16%	40.93%	46.04%	41.61%	27.58%	24.91%
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%
SG&A Expenses to Revenue	36.51%	35.03%	32.69%	32.86%	31.99%	30.94%	29.81%	27.55%	29.61%	28.04%
Operating Expenses to Revenue	49.89%	47.27%	43.49%	44.18%	43.60%	39.72%	43.59%	45.52%	61.97%	64.04%
Earnings before Interest and Taxes (EBIT)	259	361	452	510	604	623	1,123	1,316	934	991
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	275	379	482	534	649	672	1,196	1,401	916	892
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.06	2.41	2.39	1.43	1.75	1.64	2.25	1.21	1.21	1.43
Price to Tangible Book Value (P/TBV)	2.54	2.87	3.21	1.92	2.28	1.79	3.08	1.63	1.55	1.78
Price to Revenue (P/Rev)	6.27	6.52	6.42	3.89	4.77	4.51	5.37	2.41	2.68	2.90
Price to Earnings (P/E)	16.92	17.57	16.37	8.56	10.57	11.03	11.71	5.86	9.90	11.81
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.97%	1.81%	1.19%	2.53%	2.26%	1.79%
Earnings Yield	5.91%	5.69%	6.11%	11.69%	9.46%	9.07%	8.54%	17.06%	10.10%	8.46%
Enterprise Value to Invested Capital (EV/IC)	1.73	2.00	1.89	1.18	1.53	0.88	1.72	1.00	0.98	0.90
Enterprise Value to Revenue (EV/Rev)	6.60	6.81	6.87	4.28	4.75	2.83	6.49	4.95	5.29	3.74
Enterprise Value to EBITDA (EV/EBITDA)	12.52	12.60	11.84	7.68	8.09	5.21	10.60	8.97	15.13	13.26
Enterprise Value to EBIT (EV/EBIT)	13.33	13.21	12.63	8.04	8.69	5.62	11.29	9.55	14.85	11.93
Enterprise Value to NOPAT (EV/NOPAT)	17.75	18.36	17.53	9.42	10.52	6.91	14.11	11.89	19.19	15.01
Enterprise Value to Operating Cash Flow (EV/OCF)	15.64	17.00	14.86	7.59	7.32	5.22	0.00	5.60	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	9.38	0.00	0.00	0.00	0.00	6.53
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.25	0.26	0.36	0.33	0.14	0.17	0.49	1.34	1.34	0.96
Long-Term Debt to Equity	0.13	0.19	0.17	0.14	0.13	0.17	0.48	0.17	0.15	0.13
Financial Leverage	0.34	0.26	0.31	0.34	0.23	0.15	0.36	0.93	1.34	1.14
Leverage Ratio	9.60	9.04	9.11	8.97	8.87	9.84	11.04	11.99	12.12	11.87
Compound Leverage Factor	9.60	9.04	9.11	8.97	8.87	9.84	11.04	11.99	12.12	11.87
Debt to Total Capital	20.02%	20.56%	26.23%	25.06%	11.97%	14.65%	32.73%	57.32%	57.20%	49.11%
Short-Term Debt to Total Capital	9.46%	5.11%	13.76%	14.72%	0.49%	0.40%	0.23%	50.20%	50.90%	42.29%
Long-Term Debt to Total Capital	10.57%	15.45%	12.47%	10.34%	11.49%	14.25%	32.50%	7.12%	6.30%	6.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.00%	2.35%	2.08%	2.24%
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%
Common Equity to Total Capital	79.98%	79.44%	73.77%	74.94%	88.03%	85.35%	63.27%	40.33%	40.72%	48.65%
Debt to EBITDA	1.45	1.29	1.65	1.64	0.63	0.87	2.02	5.13	8.87	7.26
Net Debt to EBITDA	0.63	0.54	0.78	0.70	-0.04	-3.11	1.59	4.39	7.15	2.66
Long-Term Debt to EBITDA	0.76	0.97	0.78	0.67	0.61	0.85	2.01	0.64	0.98	1.01
Debt to NOPAT	2.05	1.88	2.44	2.01	0.82	1.16	2.69	6.80	11.25	8.22
Net Debt to NOPAT	0.90	0.79	1.16	0.86	-0.05	-4.12	2.11	5.82	9.07	3.02
Long-Term Debt to NOPAT	1.08	1.42	1.16	0.83	0.79	1.12	2.67	0.84	1.24	1.14
Noncontrolling Interest Sharing Ratio	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%	3.52%	5.72%	5.16%	4.62%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-309	-131	-316	-29	560	-66	-2,480	-4,113	-933	1,812
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-9.49	-3.04	-5.19	-0.25	3.03	-0.69	-22.56	-8.65	-0.55	0.94
Operating Cash Flow to Interest Expense	6.77	6.48	6.31	4.60	3.89	7.06	-24.15	4.72	-0.19	-1.43
Operating Cash Flow Less CapEx to Interest Expense	6.77	6.48	6.31	4.60	3.89	7.06	-24.15	4.72	-0.19	-1.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	4.50	5.87	6.96	8.05	9.01	9.52	12.36	11.10	8.52	9.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,990	2,381	3,023	3,488	3,427	3,999	7,378	12,548	14,203	13,179
Invested Capital Turnover	0.30	0.32	0.31	0.29	0.32	0.33	0.34	0.26	0.20	0.23
Increase / (Decrease) in Invested Capital	503	391	641	465	-61	572	3,379	5,170	1,655	-1,024
Enterprise Value (EV)	3,447	4,771	5,705	4,105	5,251	3,499	12,683	12,566	13,866	11,826
Market Capitalization	3,273	4,566	5,329	3,729	5,276	5,585	10,489	6,122	7,022	9,155
Book Value per Share	$15.56	$18.00	$21.14	$24.69	$29.39	$33.85	$44.79	$46.47	$52.83	$58.25
Tangible Book Value per Share	$12.57	$15.12	$15.75	$18.37	$22.50	$30.89	$32.65	$34.50	$41.48	$46.76
Total Capital	1,990	2,381	3,023	3,488	3,427	3,999	7,378	12,548	14,203	13,180
Total Debt	398	490	793	874	410	586	2,415	7,192	8,125	6,472
Total Long-Term Debt	210	368	377	360	394	570	2,398	893	895	899
Net Debt	174	205	376	375	-24	-2,086	1,899	6,149	6,549	2,376
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	398	490	793	874	410	586	2,415	7,192	8,125	6,472
Total Depreciation and Amortization (D&A)	17	18	30	24	45	49	73	85	-17	-99
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.05	$2.52	$3.12	$4.16	$4.86	$5.06	$8.72	$9.74	$6.55	$7.14
Adjusted Weighted Average Basic Shares Outstanding	94.57M	103.04M	104.18M	104.67M	102.67M	100.20M	102.70M	107.20M	108.30M	108.60M
Adjusted Diluted Earnings per Share	$2.03	$2.50	$3.10	$4.14	$4.84	$5.04	$8.67	$9.70	$6.54	$7.09
Adjusted Weighted Average Diluted Shares Outstanding	95.22M	103.84M	105.00M	105.37M	103.13M	100.50M	103.30M	107.60M	108.50M	109.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$4.86	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	103.42M	105.33M	105.67M	105.30M	102.48M	101.10M	107.00M	109.61M	110.18M	110.45M
Normalized Net Operating Profit after Tax (NOPAT)	201	269	325	436	499	507	916	1,057	682	788
Normalized NOPAT Margin	38.46%	38.38%	39.22%	45.44%	45.16%	40.93%	46.91%	41.61%	26.02%	24.91%
Pre Tax Income Margin	49.50%	51.59%	54.44%	53.21%	54.65%	50.29%	57.50%	51.80%	35.64%	31.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.94	8.34	7.43	4.34	3.27	6.56	10.22	2.77	0.55	0.52
NOPAT to Interest Expense	5.96	6.00	5.35	3.71	2.70	5.34	8.18	2.22	0.43	0.41
EBIT Less CapEx to Interest Expense	7.94	8.34	7.43	4.34	3.27	6.56	10.22	2.77	0.55	0.52
NOPAT Less CapEx to Interest Expense	5.96	6.00	5.35	3.71	2.70	5.34	8.18	2.22	0.43	0.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.39%	0.00%	0.00%	0.00%	10.28%	20.00%	14.19%	15.72%	23.74%	22.45%
Augmented Payout Ratio	0.39%	0.00%	0.00%	8.19%	34.36%	34.13%	14.19%	15.72%	23.74%	22.45%

This table displays calculated financial ratios and metrics derived from Western Alliance Bancorporation's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	21.04%	24.62%	-0.18%	7.09%	7.88%	-2.42%	32.05%	15.31%	14.93%	22.90%	6.75%
EBITDA Growth	-0.06%	-4.39%	-37.05%	-23.88%	-21.26%	-54.71%	1.01%	-23.76%	-17.60%	49.60%	26.68%
EBIT Growth	0.80%	-4.38%	-37.49%	-20.85%	-15.69%	-41.81%	25.57%	-4.69%	-9.28%	22.94%	6.30%
NOPAT Growth	11.44%	19.11%	-40.77%	-17.10%	-17.95%	-49.52%	24.75%	-10.25%	-7.76%	46.65%	12.23%
Net Income Growth	11.44%	19.11%	-40.77%	-17.10%	-17.95%	-49.52%	24.75%	-10.25%	-7.76%	46.65%	12.23%
EPS Growth	6.14%	15.09%	-42.34%	-17.99%	-18.60%	-50.19%	25.00%	-10.71%	-8.63%	45.86%	11.88%
Operating Cash Flow Growth	122.88%	29.17%	-42.64%	-235.69%	-216.05%	-57.05%	-185.78%	-63.05%	-87.47%	-282.21%	-439.64%
Free Cash Flow Firm Growth	-116.65%	-55.68%	-586.56%	5.59%	46.05%	69.10%	159.58%	173.47%	272.23%	182.34%	-86.63%
Invested Capital Growth	85.72%	70.07%	229.61%	44.90%	25.51%	13.19%	-40.33%	-20.58%	-31.28%	-7.21%	-7.71%
Revenue Q/Q Growth	6.22%	5.30%	-21.06%	21.27%	7.01%	-4.75%	6.83%	5.90%	6.65%	1.86%	-7.20%
EBITDA Q/Q Growth	-1.10%	9.51%	-45.22%	36.20%	2.30%	-37.01%	15.09%	2.80%	10.56%	14.35%	-2.54%
EBIT Q/Q Growth	0.30%	10.01%	-49.09%	40.90%	6.84%	-24.07%	9.86%	6.95%	1.69%	2.90%	-5.01%
NOPAT Q/Q Growth	1.46%	10.98%	-51.47%	51.69%	0.42%	-31.72%	19.95%	9.13%	3.20%	8.56%	-8.21%
Net Income Q/Q Growth	1.46%	10.98%	-51.47%	51.69%	0.42%	-31.72%	19.95%	9.13%	3.20%	8.56%	-8.21%
EPS Q/Q Growth	1.26%	10.33%	-52.06%	53.13%	0.51%	-32.49%	20.30%	9.38%	2.86%	7.78%	-7.73%
Operating Cash Flow Q/Q Growth	45.62%	61.83%	-55.02%	-228.02%	-24.55%	159.89%	-189.83%	-143.33%	-43.20%	41.79%	-166.04%
Free Cash Flow Firm Q/Q Growth	-6.39%	9.56%	-215.17%	68.87%	39.20%	48.20%	707.62%	-61.61%	42.53%	-75.24%	-1.35%
Invested Capital Q/Q Growth	10.02%	2.39%	77.47%	-27.52%	-4.70%	-7.66%	-6.44%	-3.54%	-17.54%	24.68%	-6.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	52.72%	54.83%	35.84%	40.25%	38.48%	25.45%	27.41%	26.61%	27.59%	30.98%	32.53%
EBIT Margin	49.65%	51.87%	33.45%	38.86%	38.80%	30.93%	31.81%	32.12%	30.63%	30.94%	31.67%
Profit (Net Income) Margin	39.77%	41.91%	25.77%	32.23%	30.24%	21.68%	24.34%	25.08%	24.27%	25.87%	25.59%
Tax Burden Percent	80.10%	80.34%	77.03%	82.93%	77.94%	70.09%	76.53%	78.10%	79.25%	83.62%	80.80%
Interest Burden Percent	100.00%	100.58%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	19.90%	19.66%	22.97%	17.07%	22.06%	29.91%	23.47%	21.90%	20.75%	16.38%	19.20%
Return on Invested Capital (ROIC)	10.14%	10.69%	4.51%	6.11%	5.77%	4.25%	3.83%	5.02%	5.62%	5.98%	6.43%
ROIC Less NNEP Spread (ROIC-NNEP)	10.14%	10.69%	4.51%	6.11%	5.77%	4.25%	3.83%	5.02%	5.62%	5.98%	6.43%
Return on Net Nonoperating Assets (RNNOA)	9.91%	9.95%	7.92%	9.54%	9.04%	5.69%	7.81%	7.08%	6.12%	6.82%	5.85%
Return on Equity (ROE)	20.04%	20.64%	12.43%	15.65%	14.81%	9.93%	11.64%	12.10%	11.75%	12.80%	12.28%
Cash Return on Invested Capital (CROIC)	-49.29%	-41.28%	-100.28%	-29.96%	-16.34%	-6.97%	54.77%	28.02%	42.62%	13.23%	14.36%
Operating Return on Assets (OROA)	1.96%	2.13%	1.29%	1.50%	1.46%	1.17%	1.20%	1.25%	1.22%	1.29%	1.27%
Return on Assets (ROA)	1.57%	1.72%	0.99%	1.24%	1.14%	0.82%	0.92%	0.98%	0.97%	1.08%	1.03%
Return on Common Equity (ROCE)	18.80%	19.46%	11.73%	14.78%	14.00%	9.42%	11.06%	11.51%	11.19%	12.20%	11.47%
Return on Equity Simple (ROE_SIMPLE)	20.12%	0.00%	17.38%	16.09%	15.10%	0.00%	12.27%	11.61%	10.76%	0.00%	11.69%
Net Operating Profit after Tax (NOPAT)	264	293	142	216	217	148	177	194	200	217	199
NOPAT Margin	39.77%	41.91%	25.77%	32.23%	30.24%	21.68%	24.34%	25.08%	24.27%	25.87%	25.59%
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	26.69%	24.70%	35.69%	29.08%	26.92%	28.04%	29.35%	27.66%	27.19%	28.08%	32.22%
Operating Expenses to Revenue	46.06%	47.69%	63.04%	57.88%	59.51%	67.71%	66.11%	63.07%	65.29%	61.90%	64.32%
Earnings before Interest and Taxes (EBIT)	330	363	185	260	278	211	232	248	252	259	246
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	350	383	198	269	276	174	200	205	227	260	253
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.43	1.21	0.71	0.72	0.90	1.21	1.18	1.14	1.49	1.43	1.28
Price to Tangible Book Value (P/TBV)	2.03	1.63	0.95	0.94	1.16	1.55	1.49	1.42	1.84	1.78	1.58
Price to Revenue (P/Rev)	2.81	2.41	1.47	1.50	1.86	2.68	2.49	2.37	3.17	2.90	2.64
Price to Earnings (P/E)	6.76	5.86	3.94	4.29	5.75	9.90	9.34	9.53	13.49	11.81	10.65
Dividend Yield	2.26%	2.53%	4.21%	4.07%	3.21%	2.26%	2.30%	2.35%	1.71%	1.79%	1.95%
Earnings Yield	14.79%	17.06%	25.41%	23.31%	17.40%	10.10%	10.71%	10.50%	7.41%	8.46%	9.39%
Enterprise Value to Invested Capital (EV/IC)	1.03	1.00	0.77	0.77	0.74	0.98	0.81	0.75	1.05	0.90	0.88
Enterprise Value to Revenue (EV/Rev)	5.27	4.95	6.74	4.82	4.30	5.29	3.87	3.31	3.70	3.74	3.38
Enterprise Value to EBITDA (EV/EBITDA)	8.92	8.97	13.56	10.58	10.28	15.13	11.78	11.22	13.80	13.26	11.47
Enterprise Value to EBIT (EV/EBIT)	9.50	9.55	14.21	10.97	10.46	14.85	11.03	9.90	11.79	11.93	10.78
Enterprise Value to NOPAT (EV/NOPAT)	12.53	11.89	17.85	13.63	13.08	19.19	14.28	13.03	15.47	15.01	13.40
Enterprise Value to Operating Cash Flow (EV/OCF)	6.13	5.60	8.65	10.52	91.06	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	1.11	2.36	2.01	6.53	5.91
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.44	1.34	3.03	1.84	1.68	1.34	1.15	1.02	0.58	0.96	0.70
Long-Term Debt to Equity	0.18	0.17	0.16	0.16	0.15	0.15	0.15	0.14	0.13	0.13	0.12
Financial Leverage	0.98	0.93	1.76	1.56	1.57	1.34	2.04	1.41	1.09	1.14	0.91
Leverage Ratio	12.79	11.99	12.50	12.61	13.01	12.12	12.66	12.38	12.15	11.87	11.95
Compound Leverage Factor	12.79	12.06	12.50	12.61	13.01	12.12	12.66	12.38	12.15	11.87	11.95
Debt to Total Capital	59.03%	57.32%	75.21%	64.78%	62.64%	57.20%	53.55%	50.58%	36.83%	49.11%	41.17%
Short-Term Debt to Total Capital	51.78%	50.20%	71.19%	59.28%	56.86%	50.90%	46.81%	43.59%	28.33%	42.29%	33.85%
Long-Term Debt to Total Capital	7.25%	7.12%	4.02%	5.50%	5.79%	6.30%	6.74%	7.00%	8.50%	6.82%	7.32%
Preferred Equity to Total Capital	2.41%	2.35%	1.32%	1.83%	1.92%	2.08%	2.22%	2.30%	2.79%	2.24%	2.41%
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%	2.39%
Common Equity to Total Capital	38.56%	40.33%	23.47%	33.40%	35.44%	40.72%	44.22%	47.11%	60.38%	48.65%	54.04%
Debt to EBITDA	5.10	5.13	13.26	8.87	8.73	8.87	7.75	7.59	4.83	7.26	5.34
Net Debt to EBITDA	3.96	4.39	10.38	7.05	5.56	7.15	3.88	2.82	1.61	2.66	1.87
Long-Term Debt to EBITDA	0.63	0.64	0.71	0.75	0.81	0.98	0.98	1.05	1.11	1.01	0.95
Debt to NOPAT	7.16	6.80	17.46	11.43	11.11	11.25	9.39	8.82	5.42	8.22	6.24
Net Debt to NOPAT	5.57	5.82	13.66	9.07	7.08	9.07	4.71	3.27	1.81	3.02	2.19
Long-Term Debt to NOPAT	0.88	0.84	0.93	0.97	1.03	1.24	1.18	1.22	1.25	1.14	1.11
Noncontrolling Interest Sharing Ratio	6.18%	5.72%	5.59%	5.53%	5.48%	5.16%	5.04%	4.91%	4.75%	4.62%	6.60%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-5,393	-4,877	-15,371	-4,785	-2,909	-1,507	9,157	3,516	5,011	1,241	1,224
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-39.28	-19.62	-42.82	-10.62	-6.62	-3.37	20.08	7.16	9.96	2.63	2.75
Operating Cash Flow to Interest Expense	3.58	3.20	1.00	-1.02	-1.30	0.76	-0.67	-1.52	-2.12	-1.32	-3.72
Operating Cash Flow Less CapEx to Interest Expense	3.58	3.20	1.00	-1.02	-1.30	0.76	-0.67	-1.52	-2.12	-1.32	-3.72
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Fixed Asset Turnover	12.07	11.10	10.38	9.84	9.35	8.52	8.78	8.71	8.83	9.03	9.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	12,255	12,548	22,269	16,140	15,381	14,203	13,289	12,818	10,570	13,179	12,264
Invested Capital Turnover	0.25	0.26	0.18	0.19	0.19	0.20	0.16	0.20	0.23	0.23	0.25
Increase / (Decrease) in Invested Capital	5,657	5,170	15,513	5,001	3,126	1,655	-8,980	-3,322	-4,811	-1,024	-1,025
Enterprise Value (EV)	12,661	12,566	17,130	12,467	11,346	13,866	10,815	9,586	11,117	11,826	10,844
Market Capitalization	6,742	6,122	3,726	3,870	4,913	7,022	6,953	6,884	9,521	9,155	8,486
Book Value per Share	$43.64	$46.47	$47.68	$49.23	$49.78	$52.83	$54.17	$54.84	$57.97	$58.25	$60.00
Tangible Book Value per Share	$30.63	$34.50	$35.93	$37.63	$38.67	$41.48	$42.93	$43.94	$46.88	$46.76	$48.71
Total Capital	12,255	12,548	22,269	16,140	15,381	14,203	13,290	12,818	10,570	13,180	12,264
Total Debt	7,234	7,192	16,748	10,455	9,635	8,125	7,117	6,484	3,893	6,472	5,049
Total Long-Term Debt	889	893	895	888	890	895	896	897	898	899	898
Net Debt	5,624	6,149	13,109	8,302	6,138	6,549	3,567	2,407	1,301	2,376	1,770
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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)	7,234	7,192	16,749	10,455	9,635	8,125	7,117	6,484	3,893	6,472	5,050
Total Depreciation and Amortization (D&A)	20	21	13	9.30	-2.30	-37	-32	-43	-25	0.30	6.70
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.43	$2.68	$1.29	$1.96	$1.97	$1.33	$1.61	$1.75	$1.81	$1.97	$1.80
Adjusted Weighted Average Basic Shares Outstanding	107.50M	107.20M	108.10M	108.30M	108.30M	108.30M	108.50M	108.60M	108.70M	108.60M	108.80M
Adjusted Diluted Earnings per Share	$2.42	$2.67	$1.28	$1.96	$1.97	$1.33	$1.60	$1.75	$1.80	$1.94	$1.79
Adjusted Weighted Average Diluted Shares Outstanding	107.90M	107.60M	108.30M	108.30M	108.50M	108.50M	109M	109.10M	109.50M	109.30M	109.60M
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	108.91M	109.61M	109.50M	109.50M	109.47M	110.18M	110.11M	110.09M	110.07M	110.45M	110.40M
Normalized Net Operating Profit after Tax (NOPAT)	264	293	132	215	217	120	177	194	200	217	199
Normalized NOPAT Margin	39.77%	41.91%	23.99%	32.14%	30.24%	17.64%	24.34%	25.08%	24.27%	25.87%	25.59%
Pre Tax Income Margin	49.65%	52.17%	33.45%	38.86%	38.80%	30.93%	31.81%	32.12%	30.63%	30.94%	31.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.40	1.46	0.51	0.58	0.63	0.47	0.51	0.51	0.50	0.55	0.55
NOPAT to Interest Expense	1.92	1.18	0.40	0.48	0.49	0.33	0.39	0.39	0.40	0.46	0.45
EBIT Less CapEx to Interest Expense	2.40	1.46	0.51	0.58	0.63	0.47	0.51	0.51	0.50	0.55	0.55
NOPAT Less CapEx to Interest Expense	1.92	1.18	0.40	0.48	0.49	0.33	0.39	0.39	0.40	0.46	0.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	16.21%	15.72%	17.54%	18.56%	19.62%	23.74%	22.81%	23.68%	24.42%	22.45%	21.98%
Augmented Payout Ratio	16.21%	15.72%	17.54%	18.56%	19.62%	23.74%	22.81%	23.68%	24.42%	22.45%	21.98%

Key Financial Trends

Western Alliance Bancorporation (NYSE: WAL) has demonstrated solid financial performance over the past four years through the latest quarter Q1 2025, as reflected in its income statements, balance sheets, and cash flow statements.

Key Positive Trends and Metrics:

Consistent Growth in Net Interest Income: WAL's net interest income grew to $650.6 million in Q1 2025 from $591.7 million in Q4 2023 and $639.7 million in Q4 2022, indicating effective interest-earning asset management.
Increase in Total Revenue: Despite fluctuations, total revenue remains strong at $778 million in Q1 2025, with a solid contribution from both interest income ($1.1 billion) and non-interest income ($127.4 million).
Stable Loan Portfolio Growth: Loans and leases, net of allowance, increased to approximately $54.37 billion in Q1 2025 from $50.36 billion in Q1 2024 and $38.86 billion allowance coverage, indicating expanding loan origination with adequate risk provisioning.
Healthy Net Income Levels: Q1 2025 net income attributable to common shareholders was $195.9 million with EPS of $1.80 diluted, reflecting strong profitability.
Robust Capital Structure: Total equity including preferred and common equity was $7.21 billion as of Q1 2025, providing a stable capital base to support growth.
Significant Cash Dividends: The company maintained cash dividends per common share at $0.38 in Q1 2025, consistent with previous periods, indicating a shareholder-friendly policy.
Loan Loss Provisioning Reflects Prudence: Provision for credit losses increased slightly to $31.2 million in Q1 2025 from lower levels in past quarters, suggesting proactive risk management amid changing credit conditions.
Strong Operating Cash Flow Funding Financing Activities: Despite a negative operating cash flow of $1.65 billion in Q1 2025, significant financing cash inflows of $2.43 billion helped support liquidity.

Neutral Observations:

Non-Interest Expense Levels: Total non-interest expenses remained elevated at around $500 million in Q1 2025, aligning with prior quarters reflecting ongoing operational costs.
Fluctuating Non-Interest Income: Net realized & unrealized gains on investments showed volatility, from a loss in Q1 2023 to gains in recent quarters, indicating exposure to market conditions.

Potential Negative Considerations:

Operating Cash Flow Challenges: WAL had a substantial net cash outflow of $1.65 billion from operating activities in Q1 2025 compared to smaller outflows or positive inflows in prior quarters, which may raise concerns about operating liquidity.
Increased Other Interest Expense: Other interest expenses rose to $57.4 million in Q1 2025 from $47.5-$50 million range in 2024, potentially squeezing net interest margin.
Rising Deposit Interest Expense: Deposits interest expense remains high at $378 million in Q1 2025, reflecting increased borrowing costs amid elevated interest rate environment.
Pressure on Non-Interest Income: Other non-interest income turned negative in Q4 2023 and has been relatively inconsistent.

Summary: Western Alliance Bancorporation has maintained strong loan growth, healthy net income and EPS, and a solid capital base through Q1 2025. However, the company faces some liquidity management challenges as seen in operating cash flow, and continues to manage higher interest expenses due to market conditions. Investors may find WAL's stable dividends, prudent credit loss provisioning, and improving earnings encouraging but should monitor its cash flow trends and expense management going forward.

08/04/25 12:05 AMAI Generated. May Contain Errors.

Frequently Asked Questions About Western Alliance Bancorporation's Financials

When does Western Alliance Bancorporation's financial year end?

According to the most recent income statement we have on file, Western Alliance Bancorporation's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Western Alliance Bancorporation's net income changed over the last 9 years?

Western Alliance Bancorporation's net income appears to be on an upward trend, with a most recent value of $787.70 million in 2024, rising from $194.24 million in 2015. The previous period was $722.40 million in 2023. See where experts think Western Alliance Bancorporation is headed by visiting Western Alliance Bancorporation's forecast page.

How has Western Alliance Bancorporation's revenue changed over the last 9 years?

Over the last 9 years, Western Alliance Bancorporation's total revenue changed from $522.34 million in 2015 to $3.16 billion in 2024, a change of 505.4%.

How much debt does Western Alliance Bancorporation have?

Western Alliance Bancorporation's total liabilities were at $74.23 billion at the end of 2024, a 14.6% increase from 2023, and a 485.2% increase since 2015.

How much cash does Western Alliance Bancorporation have?

In the past 9 years, Western Alliance Bancorporation's cash and equivalents has ranged from $133.71 million in 2015 to $320 million in 2024, and is currently $320 million as of their latest financial filing in 2024.

How has Western Alliance Bancorporation's book value per share changed over the last 9 years?

Over the last 9 years, Western Alliance Bancorporation's book value per share changed from 15.56 in 2015 to 58.25 in 2024, a change of 274.5%.

Related Companies

This page (NYSE:WAL) was last updated on 8/4/2025 by MarketBeat.com Staff

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Western Alliance Bancorporation (WAL) Financials

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Western Alliance Bancorporation (WAL) Financials

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