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Walker & Dunlop (WD) Financials

Walker & Dunlop logo
$51.10 -1.87 (-3.54%)
Closing price 05/15/2026 03:59 PM Eastern
Extended Trading
$51.00 -0.10 (-0.19%)
As of 05/15/2026 07:56 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 Walker & Dunlop

Annual Income Statements for Walker & Dunlop

This table shows Walker & Dunlop'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		 82 114 211 161 174 246 266 214 107 108 56
Consolidated Net Income / (Loss)		 83 114 212 161 173 246 266 209 103 101 57
Net Income / (Loss) Continuing Operations		 83 114 212 161 173 246 266 209 103 101 57
Total Pre-Tax Income 		135 186 234 213 230 330 352 265 138 132 79
Total Revenue		 468 575 712 725 817 0.00 0.00 0.00 0.00 0.00 0.00
Net Interest Income / (Expense)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Income		 468 575 712 725 817 0.00 0.00 0.00 0.00 0.00 0.00
Total Non-Interest Expense		 333 389 478 512 587 -330 -352 -265 -138 -132 -79
Salaries and Employee Benefits		 185 227 289 297 346 469 603 607 514 559 648
Other Operating Expenses		 40 41 48 62 67 -1,014 -1,167 -1,116 -937 -992 -1,032
Depreciation Expense		 98 111 131 142 152 169 210 235 227 238 239
Impairment Charge		 - - - - - - 0.00 0.00 62 33 0.00
Restructuring Charge		 - - - - - - 6.89 -14 -63 -50 -8.24
Other Special Charges		 9.92 9.85 9.50 11 22 46 -5.31 22 58 81 74
Income Tax Expense		 53 71 22 52 57 84 86 56 35 31 22
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.47 0.41 0.71 -0.50 -0.14 -0.22 -0.13 -4.89 -4.19 -7.21 0.74
Basic Earnings per Share		 $2.76 $3.66 $6.72 $5.15 $5.61 $7.85 $8.27 $6.43 $3.20 $3.19 $1.65
Weighted Average Basic Shares Outstanding		 29.75M 29.77M 30.18M 30.20M 29.91M 30.44M 31.08M 32.33M 32.70M 33.12M 33.35M
Diluted Earnings per Share		 $2.65 $3.57 $6.47 $4.96 $5.45 $7.69 $8.15 $6.36 $3.18 $3.19 $1.64
Weighted Average Diluted Shares Outstanding		 30.95M 30.54M 31.39M 31.38M 30.82M 31.08M 31.53M 32.69M 32.88M 33.16M 33.37M
Weighted Average Basic & Diluted Shares Outstanding		 30.92M 30.82M 30.79M 30.26M 30.95M 31.54M 32.89M 33.05M 33.52M 33.80M 34.06M
Cash Dividends to Common per Share		 - $0.00 - $1.00 $1.20 $1.44 $2.00 $2.40 $2.52 $2.60 $2.68

Quarterly Income Statements for Walker & Dunlop

This table shows Walker & Dunlop'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		 21 32 12 23 29 45 2.75 34 33 -14 16
Consolidated Net Income / (Loss)		 21 29 11 20 29 41 2.73 34 33 -13 18
Net Income / (Loss) Continuing Operations		 21 29 11 20 29 41 2.73 34 33 -13 18
Total Pre-Tax Income 		28 39 14 28 38 52 5.24 46 46 -19 26
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Net Interest Income / (Expense)		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Expense		 -28 -39 -14 -28 -38 -52 -5.24 -46 -46 19 -26
Salaries and Employee Benefits		 137 126 111 133 146 169 121 162 177 187 153
Other Operating Expenses		 -240 -240 -199 -238 -260 -294 -203 -286 -301 -241 -261
Depreciation Expense		 57 56 56 56 58 68 58 59 60 62 63
Other Special Charges		 18 19 18 21 21 20 19 19 17 19 19
Income Tax Expense		 7.07 10 2.86 7.90 8.82 11 2.52 12 13 -5.45 8.02
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.31 -2.56 -1.05 -2.37 -0.12 -3.67 -0.03 -0.00 -0.03 0.80 2.06
Basic Earnings per Share		 $0.64 $0.94 $0.35 $0.67 $0.85 $1.32 $0.08 $1.00 $0.98 ($0.41) $0.46
Weighted Average Basic Shares Outstanding		 32.74M 32.70M 32.98M 33.12M 33.17M 33.12M 33.26M 33.36M 33.38M 33.35M 33.39M
Diluted Earnings per Share		 $0.64 $0.93 $0.35 $0.67 $0.85 $1.32 $0.08 $0.99 $0.98 ($0.41) $0.46
Weighted Average Diluted Shares Outstanding		 32.90M 32.88M 33.05M 33.15M 33.20M 33.16M 33.30M 33.37M 33.40M 33.37M 33.41M
Weighted Average Basic & Diluted Shares Outstanding		 33.45M 33.52M 33.72M 33.75M 33.77M 33.80M 33.98M 34.07M 34.06M 34.06M 34.33M
Cash Dividends to Common per Share		 $0.63 - $0.65 $0.65 $0.65 - $0.67 $0.67 - - $0.68

Annual Cash Flow Statements for Walker & Dunlop

This table details how cash moves in and out of Walker & Dunlop'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		 20 -0.92 75 -166 16 221 35 -135 133 -64 16
Net Cash From Operating Activities		 -1,339 759 1,068 64 428 -1,411 870 1,583 -0.52 129 -664
Net Cash From Continuing Operating Activities		 -1,339 759 1,068 64 428 -1,414 864 1,583 -0.52 129 -664
Net Income / (Loss) Continuing Operations		 83 114 212 161 173 246 266 209 103 101 57
Consolidated Net Income / (Loss)		 83 114 212 161 173 246 266 209 103 101 57
Provision For Loan Losses		 1.64 -0.61 -0.24 0.81 7.27 37 -13 -12 -10 11 9.59
Depreciation Expense		 98 111 131 142 152 169 210 235 227 238 239
Non-Cash Adjustments to Reconcile Net Income		 -1,526 507 722 -238 126 -1,927 429 1,192 -292 -162 -952
Changes in Operating Assets and Liabilities, net		 2.96 23 0.66 -7.51 -30 61 -28 -41 -28 -59 -17
Net Cash From Investing Activities		 -27 -67 97 -552 -80 115 -378 -134 127 -38 -77
Net Cash From Continuing Investing Activities		 -27 -67 97 -552 -80 115 -378 -134 127 -38 -77
Purchase of Investment Securities		 -187 -486 -221 -744 -457 -253 -699 -156 -44 -103 -104
Sale and/or Maturity of Investments		 172 426 339 249 384 415 742 136 171 65 27
Net Cash From Financing Activities		 1,386 -694 -1,089 322 -332 1,518 -458 -1,584 6.77 -155 758
Net Cash From Continuing Financing Activities		 1,386 -694 -1,089 322 -332 1,518 -458 -1,584 6.77 -155 758
Issuance of Debt		 137 326 140 514 180 64 865 36 196 0.00 399
Repayment of Debt		 1,289 -1,010 -1,198 -95 -443 1,543 -1,245 -1,471 -58 -2.34 477
Repurchase of Common Equity		 -50 -13 -35 -69 -31 -46 -19 -42 -21 -12 -10
Payment of Dividends		 - 0.00 0.00 -31 -37 -45 -64 -80 -85 -89 -92
Other Financing Activities, Net		 1.41 -0.01 0.00 -5.15 -6.45 -12 0.00 -27 -26 -51 -15
Cash Interest Paid		 33 39 56 56 64 46 38 77 114 105 107
Cash Income Taxes Paid		 35 34 46 46 40 30 43 59 31 32 23

Quarterly Cash Flow Statements for Walker & Dunlop

This table details how cash moves in and out of Walker & Dunlop'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		 17 91 -111 0.89 -15 61 -98 63 45 6.51 -110
Net Cash From Operating Activities		 549 332 38 -238 -202 531 -281 -238 -948 803 -1,144
Net Cash From Continuing Operating Activities		 549 332 38 -238 -202 531 -281 -238 -948 803 -1,144
Net Income / (Loss) Continuing Operations		 21 29 11 20 29 41 2.73 34 33 -13 18
Consolidated Net Income / (Loss)		 21 29 11 20 29 41 2.73 34 33 -13 18
Provision For Loan Losses		 0.42 0.64 0.52 2.94 2.85 4.53 3.71 1.82 0.95 3.11 4.12
Depreciation Expense		 57 56 56 56 58 68 58 59 60 62 63
Non-Cash Adjustments to Reconcile Net Income		 470 270 -29 -317 -291 475 -345 -333 -1,043 768 -1,229
Net Cash From Investing Activities		 36 -20 -25 -4.56 -7.53 -0.99 -39 -23 -2.91 -13 -40
Net Cash From Continuing Investing Activities		 36 -20 -25 -4.56 -7.53 -0.99 -39 -23 -2.91 -13 -40
Purchase of Investment Securities		 -0.42 -21 -28 -21 -26 -41 -42 -25 -10 -27 -43
Sale and/or Maturity of Investments		 36 0.90 3.06 16 4.66 40 2.41 2.14 7.15 15 3.34
Net Cash From Financing Activities		 -568 -221 -124 243 195 -469 222 324 996 -784 1,074
Net Cash From Continuing Financing Activities		 -568 -221 -124 243 195 -469 222 324 996 -784 1,074
Issuance of Debt		 - - 0.00 - - - 399 - - - 0.00
Repayment of Debt		 -545 -199 -77 284 228 -432 -143 357 1,020 -758 1,117
Repurchase of Common Equity		 -0.87 -1.58 -9.79 -0.81 -1.41 -0.37 -8.59 -0.65 -1.04 -0.18 -19
Payment of Dividends		 -21 -21 -22 -22 -22 -22 -23 -23 -23 -23 -24
Other Financing Activities, Net		 -0.52 0.81 -16 -16 -10 -13 -2.55 -9.35 0.15 -3.42 0.05
Cash Interest Paid		 35 27 18 26 29 32 15 20 24 48 0.00
Cash Income Taxes Paid		 5.85 4.25 -0.60 18 12 3.26 -0.08 16 5.62 1.10 0.07

Annual Balance Sheets for Walker & Dunlop

This table presents Walker & Dunlop'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		 3,515 3,052 2,208 2,782 2,675 4,651 5,206 4,045 4,052 4,382 5,059
Cash and Due from Banks		 137 119 191 90 121 321 306 226 329 279 299
Restricted Cash		 5.31 9.86 6.68 21 8.68 19 43 18 21 25 23
Trading Account Securities		 2,583 2,005 1,060 1,226 924 2,636 1,961 554 779 988 1,661
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Goodwill		 - - - - - 249 699 960 902 869 869
Intangible Assets		 91 97 125 177 183 1.88 184 199 182 157 142
Other Assets		 467 601 759 771 895 1,063 2,014 2,090 1,839 2,064 2,066
Total Liabilities & Shareholders' Equity		 3,515 3,052 2,208 2,782 2,675 4,651 5,206 4,045 4,052 4,382 5,059
Total Liabilities		 3,023 2,437 1,393 1,875 1,633 3,455 3,628 2,329 2,306 2,622 3,314
Long-Term Debt		 164 164 164 296 294 292 740 704 773 1,550 2,249
Other Long-Term Liabilities		 204 273 285 397 425 632 946 1,087 937 1,072 1,064
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - - - 0.00 -1.04
Total Equity & Noncontrolling Interests		 492 615 815 907 1,042 1,196 1,578 1,717 1,746 1,760 1,747
Total Preferred & Common Equity		 488 610 809 902 1,036 1,196 1,550 1,689 1,724 1,748 1,735
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		 488 610 809 902 1,036 1,196 1,550 1,689 1,724 1,748 1,735
Common Stock		 216 229 229 235 238 241 393 413 426 429 451
Retained Earnings		 272 381 580 667 797 953 1,154 1,278 1,298 1,318 1,282
Accumulated Other Comprehensive Income / (Loss)		 - - 0.09 -0.08 0.74 1.97 2.56 -1.57 -0.48 0.59 1.88
Noncontrolling Interest		 4.45 4.86 5.57 5.07 6.60 0.00 28 27 22 12 12

Quarterly Balance Sheets for Walker & Dunlop

This table presents Walker & Dunlop'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 Q2 2025 Q3 2025 Q1 2026
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 6/30/2025 9/30/2025 3/31/2026
Total Assets		 6,003 4,493 4,807 4,278 3,826 4,175 4,579 4,512 4,675 5,797 6,165
Cash and Due from Banks		 152 188 228 236 217 208 180 181 234 275 193
Restricted Cash		 40 21 22 18 21 35 40 32 41 44 34
Trading Account Securities		 2,587 1,100 1,474 936 689 1,013 1,229 1,161 1,396 2,419 2,776
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Goodwill		 948 960 964 950 902 902 902 869 869 869 869
Intangible Assets		 203 194 190 186 178 174 171 153 149 146 138
Other Assets		 2,073 2,030 1,930 1,952 1,820 1,843 2,058 2,116 1,986 2,044 2,156
Total Liabilities & Shareholders' Equity		 6,003 4,493 4,807 4,278 3,826 4,175 4,579 4,512 4,675 5,797 6,165
Total Liabilities		 4,308 2,778 3,083 2,547 2,090 2,442 2,833 2,768 2,913 4,020 4,432
Long-Term Debt		 711 777 776 775 772 771 769 1,757 1,986 3,005 3,361
Other Long-Term Liabilities		 1,052 969 965 981 796 861 1,044 1,011 927 1,015 1,071
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - - - - 0.75
Total Equity & Noncontrolling Interests		 1,695 1,715 1,724 1,731 1,736 1,734 1,746 1,744 1,762 1,777 1,733
Total Preferred & Common Equity		 1,663 1,685 1,698 1,706 1,715 1,697 1,710 1,732 1,750 1,766 1,720
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		 1,663 1,685 1,698 1,706 1,715 1,697 1,710 1,732 1,750 1,766 1,720
Common Stock		 408 406 413 420 428 408 413 433 438 444 455
Retained Earnings		 1,257 1,281 1,287 1,288 1,288 1,289 1,295 1,298 1,309 1,319 1,264
Accumulated Other Comprehensive Income / (Loss)		 -1.46 -1.62 -1.47 -1.86 -0.49 0.42 1.47 1.30 2.76 1.83 1.20
Noncontrolling Interest		 32 30 26 25 21 37 37 12 12 12 13

Annual Metrics And Ratios for Walker & Dunlop

This table displays calculated financial ratios and metrics derived from Walker & Dunlop'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
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $7.85 $8.27 $6.43 $3.20 $3.19 $1.65
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 30.44M 31.08M 32.33M 32.70M 33.12M 33.35M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $7.69 $8.15 $6.36 $3.18 $3.19 $1.64
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 0.00 31.08M 31.53M 32.69M 32.88M 33.16M 33.37M
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		 0.00 0.00 0.00 0.00 0.00 31.54M 32.89M 33.05M 33.52M 33.80M 34.06M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Walker & Dunlop

This table displays calculated financial ratios and metrics derived from Walker & Dunlop'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		 - - - - - - - - - - 34,060,397.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 34,060,397.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 0.53
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Growth		 -24.86% -9.25% -24.03% -8.74% 10.94% 25.99% -9.64% 25.01% 11.48% - 41.44%
EBIT Growth		 -47.94% -16.55% -60.47% -21.70% 32.94% 32.40% -61.66% 64.46% 22.48% - 394.85%
NOPAT Growth		 -54.68% -22.85% -60.63% -20.48% 35.66% 41.77% -74.80% 67.28% 16.52% - 557.91%
Net Income Growth		 -54.68% -22.85% -60.63% -20.48% 35.66% 41.77% -74.80% 67.28% 16.52% - 557.91%
EPS Growth		 -54.29% -24.39% -55.70% -18.29% 32.81% 41.94% -77.14% 47.76% 15.29% - 475.00%
Operating Cash Flow Growth		 141.54% -83.81% 107.02% 28.87% -136.82% 59.94% -832.11% -0.25% -369.34% - -306.93%
Free Cash Flow Firm Growth		 538.41% -109.57% 342.34% 278.91% -112.56% -19.21% -192.75% -172.79% -476.54% - -236.81%
Invested Capital Growth		 -33.42% 5.31% -14.01% -13.74% 7.26% 6.22% 15.54% 13.07% 35.27% - 45.54%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Q/Q Growth		 -7.16% 11.31% -27.06% 21.09% 12.85% 26.41% -47.69% 67.52% 0.63% - 104.27%
EBIT Q/Q Growth		 -21.66% 39.54% -65.25% 106.13% 33.01% 38.97% -89.94% 784.32% -0.94% - 239.84%
NOPAT Q/Q Growth		 -17.15% 37.33% -62.75% 87.66% 41.33% 43.52% -93.38% 1,145.83% -1.56% - 238.01%
Net Income Q/Q Growth		 -17.15% 37.33% -62.75% 87.66% 41.33% 43.52% -93.38% 1,145.83% -1.56% - 236.75%
EPS Q/Q Growth		 -21.95% 45.31% -62.37% 91.43% 26.87% 55.29% -93.94% 1,137.50% -1.01% - 212.20%
Operating Cash Flow Q/Q Growth		 264.08% -39.50% -88.43% -719.44% 15.07% 362.77% -152.96% 15.17% -297.61% - -242.39%
Free Cash Flow Firm Q/Q Growth		 646.81% -107.65% 493.69% 8.68% -138.38% 27.41% -206.32% 14.72% -204.05% - -125.59%
Invested Capital Q/Q Growth		 -14.22% -5.48% -2.75% 9.40% 6.67% -6.39% 5.77% 7.06% 27.61% - 27.52%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Tax Burden Percent		 74.94% 73.76% 79.06% 71.98% 76.48% 78.98% 51.96% 73.21% 72.75% - 69.09%
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		 25.06% 26.24% 20.94% 28.02% 23.52% 21.02% 48.04% 26.79% 27.25% - 30.91%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Equity (ROE)		 6.53% 5.96% 5.01% 4.70% 5.11% 5.76% 5.34% 6.09% 6.31% - 4.15%
Cash Return on Invested Capital (CROIC)		 42.84% -1.78% 17.71% 17.03% -4.40% -2.89% -11.57% -9.25% -27.31% - -35.41%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Common Equity (ROCE)		 6.42% 5.87% 4.94% 4.62% 5.02% 5.70% 5.29% 6.01% 6.23% - 4.12%
Return on Equity Simple (ROE_SIMPLE)		 6.55% 0.00% 5.04% 4.79% 5.20% 0.00% 5.36% 6.09% 6.30% - 4.20%
Net Operating Profit after Tax (NOPAT)		 21 29 11 20 29 41 2.73 34 33 - 18
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings before Interest and Taxes (EBIT)		 28 39 14 28 38 52 5.24 46 46 - 26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 86 95 70 84 95 120 63 105 106 - 89
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.39 2.09 1.95 1.94 2.24 1.88 1.67 1.37 1.61 - 0.88
Price to Tangible Book Value (P/TBV)		 4.16 5.62 5.25 5.30 6.01 4.54 4.06 3.27 3.79 - 2.12
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Price to Earnings (P/E)		 20.24 33.48 36.06 37.57 40.38 30.35 29.13 21.71 24.77 - 21.79
Dividend Yield		 3.50% 2.93% 3.83% 3.94% 3.40% 3.34% 3.07% 3.75% 3.18% - 6.06%
Earnings Yield		 4.94% 2.99% 2.77% 2.66% 2.48% 3.30% 3.43% 4.61% 4.04% - 4.59%
Enterprise Value to Invested Capital (EV/IC)		 1.13 1.49 1.46 1.41 1.54 1.37 1.27 1.10 1.16 - 0.91
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 9.90 12.70 12.87 13.93 15.80 12.30 12.25 10.74 14.07 - 13.56
Enterprise Value to EBIT (EV/EBIT)		 25.41 33.55 37.64 42.62 45.81 34.52 36.08 29.15 37.06 - 46.73
Enterprise Value to NOPAT (EV/NOPAT)		 33.19 44.93 51.03 57.38 61.24 44.97 47.81 38.66 49.85 - 64.54
Enterprise Value to Operating Cash Flow (EV/OCF)		 2.16 0.00 7.55 6.85 0.00 35.09 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 2.10 0.00 7.61 7.65 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.90 0.78 0.75 0.91 1.02 0.88 1.01 1.13 1.69 - 1.94
Long-Term Debt to Equity		 0.45 0.44 0.44 0.44 0.44 0.44 1.01 1.13 1.69 - 1.94
Financial Leverage		 1.41 0.75 0.90 1.07 0.96 0.83 0.88 1.02 1.36 - 1.47
Leverage Ratio		 3.00 2.34 2.41 2.60 2.55 2.41 2.40 2.53 2.94 - 3.07
Compound Leverage Factor		 3.00 2.34 2.41 2.60 2.55 2.41 2.40 2.53 2.94 - 3.07
Debt to Total Capital		 47.49% 43.96% 42.71% 47.69% 50.61% 46.83% 50.18% 52.99% 62.83% - 65.97%
Short-Term Debt to Total Capital		 23.99% 19.13% 17.23% 24.44% 28.85% 23.62% 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 23.50% 24.82% 25.48% 23.25% 21.76% 23.21% 50.18% 52.99% 62.83% - 65.97%
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%
Noncontrolling Interests to Total Capital		 0.75% 0.72% 0.68% 1.11% 1.03% 0.36% 0.34% 0.31% 0.25% - 0.27%
Common Equity to Total Capital		 51.76% 55.33% 56.61% 51.19% 48.36% 52.81% 49.48% 46.70% 36.92% - 33.76%
Debt to EBITDA		 4.18 3.75 3.77 4.72 5.20 4.20 4.85 5.18 7.62 - 9.78
Net Debt to EBITDA		 3.50 2.79 3.08 3.99 4.56 3.37 4.26 4.46 6.81 - 9.12
Long-Term Debt to EBITDA		 2.07 2.12 2.25 2.30 2.23 2.08 4.85 5.18 7.62 - 9.78
Debt to NOPAT		 14.01 13.27 14.96 19.45 20.14 15.35 18.91 18.64 27.01 - 46.56
Net Debt to NOPAT		 11.73 9.88 12.21 16.45 17.67 12.34 16.62 16.06 24.14 - 43.42
Long-Term Debt to NOPAT		 6.93 7.50 8.92 9.48 8.66 7.61 18.91 18.64 27.01 - 46.56
Noncontrolling Interest Sharing Ratio		 1.65% 1.44% 1.46% 1.82% 1.76% 0.98% 0.93% 1.39% 1.37% - 0.73%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,676 -128 505 548 -210 -153 -468 -399 -1,214 - -1,576
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		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,296 3,116 3,030 3,315 3,536 3,310 3,501 3,748 4,783 - 5,095
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Increase / (Decrease) in Invested Capital		 -1,655 157 -494 -528 239 194 471 433 1,247 - 1,594
Enterprise Value (EV)		 3,710 4,636 4,414 4,665 5,440 4,540 4,440 4,118 5,547 - 4,659
Market Capitalization		 2,374 3,594 3,338 3,290 3,834 3,282 2,885 2,395 2,849 - 1,512
Book Value per Share		 $51.17 $51.53 $52.01 $50.33 $50.66 $51.76 $51.25 $51.50 $51.82 - $50.50
Tangible Book Value per Share		 $17.11 $19.13 $19.27 $18.41 $18.89 $21.39 $21.02 $21.54 $22.05 - $20.94
Total Capital		 3,296 3,116 3,030 3,315 3,536 3,310 3,501 3,748 4,783 - 5,095
Total Debt		 1,565 1,370 1,294 1,581 1,789 1,550 1,757 1,986 3,005 - 3,361
Total Long-Term Debt		 775 773 772 771 769 768 1,757 1,986 3,005 - 3,361
Net Debt		 1,311 1,019 1,056 1,337 1,570 1,245 1,543 1,711 2,686 - 3,134
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)		 1,565 1,370 1,294 1,581 1,789 1,550 1,757 1,986 3,005 - 3,361
Total Depreciation and Amortization (D&A)		 57 56 56 56 58 68 58 59 60 - 63
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.64 $0.94 $0.35 $0.67 $0.85 $1.32 $0.08 $1.00 $0.98 ($0.41) $0.46
Adjusted Weighted Average Basic Shares Outstanding		 32.74M 32.70M 32.98M 33.12M 33.17M 33.12M 33.26M 33.36M 33.38M 33.35M 33.39M
Adjusted Diluted Earnings per Share		 $0.64 $0.93 $0.35 $0.67 $0.85 $1.32 $0.08 $0.99 $0.98 ($0.41) $0.46
Adjusted Weighted Average Diluted Shares Outstanding		 32.90M 32.88M 33.05M 33.15M 33.20M 33.16M 33.30M 33.37M 33.40M 33.37M 33.41M
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		 33.45M 33.52M 33.72M 33.75M 33.77M 33.80M 33.98M 34.07M 34.06M 34.06M 34.33M
Normalized Net Operating Profit after Tax (NOPAT)		 35 43 25 35 44 57 13 48 46 - 31
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 74.85% 82.23% 98.92% 106.59% 98.59% 87.79% 96.49% 84.75% 81.95% - 128.10%
Augmented Payout Ratio		 93.30% 102.11% 113.83% 122.65% 113.90% 100.06% 108.52% 95.09% 91.51% - 157.14%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, bulleted look at Walker & Dunlop (NYSE: WD) using the company’s quarterly statements from the last four years. The items highlighted reflect notable trends in income, cash flow and the balance sheet that may matter to retail investors.

  • Strong recent earnings in mid-2025: In Q2 2025 and Q3 2025, WD reported consolidated net income around $33.5 million in each quarter, with diluted earnings per share near $0.99 (Q2 2025: ~0.99; Q3 2025: ~0.98).
  • Robust operating cash flow in the latest quarter: Q4 2025 shows solid operating cash flow, with net cash from continuing operating activities around $803.4 million and a positive net change in cash of about $6.5 million, indicating strong cash generation despite earnings volatility.
  • Asset base expanding into late period: Total assets rose to about $5.80 billion in Q3 2025, reflecting meaningful growth in the asset base during the year.
  • Solid capitalization level: Total equity was about $1.78 billion in Q3 2025, suggesting a stable capitalization base.
  • Earnings have been volatile by quarter: After a weaker start in Q1 2025 (net income around $2.8 million), WD delivered strong mid-year results in Q2 and Q3, then moved back to a negative earnings print in Q4 2025, indicating pronounced quarterly swings.
  • Operating cash flow shows seasonality: Net cash from continuing operating activities was negative in mid-2025 (Q2 and Q3) but turned positive again in Q4 2025, suggesting working capital timing and noncash items as drivers of cash flow volatility.
  • Debt level increased notably within the quarter: Long-term debt rose from roughly $1.99B in Q2 2025 to about $3.01B in Q3 2025, signaling higher leverage over that period.
  • Q4 2025 shows a bottom-line decline: Net income attributable to common shareholders was negative (about -$13.9 million) with basic/diluted EPS of -$0.41, marking a negative quarterly earnings read.
  • Weak operating cash flow in parts of 2025: The notable negative cash flow from continuing operations in Q3 2025 (about -$948.1 million) contrasts with the later Q4 positive print and points to cash-flow volatility during the year.
  • Significant financing outflows in several quarters: Net cash from financing activities was large and negative in recent quarters (e.g., about -$996.1 million in Q3 2025 and -$784.4 million in Q4 2025), indicating substantial debt repayments and other outflows that can impact liquidity.
05/17/26 06:59 PM ETAI Generated. May Contain Errors.

Walker & Dunlop Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Walker & Dunlop's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Walker & Dunlop's net income were at $56.99 million at the end of 2025, a 43.6% decrease from 2024, and a 31.0% decrease since 2015. See Walker & Dunlop's forecast for analyst expectations on what's next for the company.

Over the last 10 years, Walker & Dunlop's total revenue changed from $468.20 million in 2015 to $0.00 in 2025, a change of -100.0%.

Walker & Dunlop's total liabilities were at $3.31 billion at the end of 2025, a 26.4% increase from 2024, and a 9.6% increase since 2015.

In the past 10 years, Walker & Dunlop's cash and equivalents has ranged from $90.06 million in 2018 to $328.70 million in 2023, and is currently $299.32 million as of their latest financial filing in 2025.


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Financial statements for NYSE:WD last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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