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Western Alliance Bancorporation (WAL) Financials

Western Alliance Bancorporation logo
$87.19 +5.74 (+7.04%)
Closing price 08/22/2025 03:59 PM Eastern
Extended Trading
$87.00 -0.19 (-0.21%)
As of 08/22/2025 07:39 PM Eastern
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Annual Income Statements for Western Alliance Bancorporation

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

Quarterly Income Statements for Western Alliance Bancorporation

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

Annual Cash Flow Statements for Western Alliance Bancorporation

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

Quarterly Cash Flow Statements for Western Alliance Bancorporation

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

Annual Balance Sheets for Western Alliance Bancorporation

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

Quarterly Balance Sheets for Western Alliance Bancorporation

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

Annual Metrics And Ratios for Western Alliance Bancorporation

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%

Quarterly Metrics And Ratios for Western Alliance Bancorporation

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 shown several notable trends over the last four years through Q1 2025 based on the financial statements.

  • Consistent Growth in Loans and Leases: The loans and leases portfolio increased from approximately $46.4 billion in Q1 2023 to about $54.8 billion by Q1 2025, indicating strong loan demand and business growth.
  • Increasing Net Interest Income: Net interest income rose from around $609.9 million in Q1 2023 to $650.6 million in Q1 2025, reflecting improved interest margin or loan volume growth.
  • Strong Net Income Growth: Net income attributable to common shareholders grew from approximately $139 million in Q1 2023 to nearly $196 million in Q1 2025, representing solid profitability improvement.
  • Dividend Stability & Growth: Cash dividends per common share remained stable at $0.36 in 2023 and increased slightly to $0.38 in Q1 2025, suggesting confidence in cash flow and shareholder returns.
  • Solid Capital Position: Total equity rose from about $5 billion in early 2023 to over $7 billion by Q1 2025, supporting capacity for growth and regulatory compliance.
  • Deposit Growth with Deposit Mix Shift: Total deposits increased significantly from around $47 billion in early 2023 to about $69 billion by Q1 2025. The proportion of non-interest bearing deposits also increased, impacting funding costs.
  • Increasing Interest Expense: Total interest expense has increased from $359 million in Q1 2023 to $445 million in Q1 2025, driven by higher deposit rates and other borrowings, which could pressure margins if interest income does not keep pace.
  • Fluctuating Capital Gains: Net realized and unrealized capital gains on investments have been volatile, with occasional losses in some quarters such as Q1 2023, adding some variability to non-interest income.
  • Loan Loss Provisions Variability: Provision for credit losses increased in recent quarters (e.g., $31.2 million in Q1 2025 vs. $19.4 million in Q1 2023), indicating some credit risk build but still moderate relative to loan balances.
  • Negative Operating Cash Flows in Recent Quarters: Cash flow from continuing operating activities was negative at $-1.65 billion in Q1 2025, compared to negative $306 million in Q1 2024, signaling potential pressures in working capital management or loan funding.
  • Rising Non-Interest Expenses: Non-interest expenses increased from $348 million in Q1 2023 to $500 million in Q1 2025, driven by higher salaries, operating costs, and insurance claims expenses, putting pressure on profitability if revenue growth stalls.

Overall, Western Alliance Bancorporation demonstrates steady loan and deposit growth, improving profitability, and solid capital trends. However, the firm faces rising costs, variability in investment income, and recent negative operating cash flows that investors should monitor closely for potential impacts on margin and liquidity.

08/24/25 04:26 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%.


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This page (NYSE:WAL) was last updated on 8/24/2025 by MarketBeat.com Staff
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