WaFd, Inc. Financial Ratios — WAFD Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	23.94	24.74	22.65	20.09	17.78	16.07	15.38	16.29	15.04	11.46	10.78	12.71	12.68	8.96	9.63
Return on Assets (%)	0.83	1.07	1.19	1.13	1.09	1.11	1.15	1.31	1.3	0.98	0.96	1.17	1.19	0.79	0.83
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	7.38	8.34	3.92	4	3.86	4.09	8.58	9.06	5.71	7.17	5.99	9.68	3.09	18.58	1.34
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	39.04	52.21	58.35	56.5	53.87	51.98	52.76	49.84	48.29	39.39	41.18	45.35	43.77	35.47	39.96
Profit Margin (%)	24.98	33.41	37.68	36.3	34.61	34.37	35.73	39.5	38.64	31.17	32.44	35.72	34.66	27.71	31.19
Net Income to Common Margin (%)	24.98	33.41	37.68	36.3	34.61	34.37	35.73	39.5	38.64	31.17	30.66	33.51	32.7	25.69	29.17
Effective Tax Rate (%)	36	36	35.42	35.75	35.75	33.89	32.27	20.76	19.99	20.87	21.24	21.23	20.81	21.88	21.95
Dvd Payout Ratio (%)	23.12	23.47	24.97	26.73	31.88	30.43	42.94	27.47	30.11	38.34	35.84	27.77	26.27	40.05	40.03
Sustainable Growth Rate (%)	18.4	18.93	16.99	14.72	12.11	11.18	8.78	11.82	10.51	7.06	6.91	9.18	9.35	5.37	5.77

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	2,762	1,880	1,930	1,930	1,830	2,080	2,225	2,330	2,250	2,700	1,720	2,125	3,650	3,318	1,817
ST Debt	800	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1,747
LT Debt	1,962	1,880	1,930	1,930	1,830	2,080	2,225	2,330	2,250	2,700	1,720	2,125	3,650	3,318	70
Total Debt/EBITDA	84.14	54.49	122.35	111.26	102.3	106.62	53.38	49.86	72.45	67.65	50.72	33.18	158.9	24.74	187
Net Debt/EBITDA	59.28	32.71	109.45	66.19	86.42	83.53	45.87	44.11	58.95	24.98	-10.93	22.5	116.21	6.99	119.36
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.77	4.9	5.56	5.69	6.61	7.24	7.72	8.35	8.93	8.28	8.47	8.79	8.92	7.6	8.46
Long-Term Debt/Equity (%)	102.91	98.96	99.61	97.81	93.57	105.28	110.93	116.68	110.67	134.05	80.9	93.44	150.43	110.6	2.31
Long-Term Debt/Capital (%)	60.03	75.48	72.64	69.69	65.51	65.86	65.39	63.76	60.46	63.43	46.68	50	61.3	57.7	1.6
Long-Term Debt/Total Assets (%)	14.6	15.07	14.75	13.08	12.56	13.97	14.59	14.69	13.66	14.37	8.75	10.23	16.24	11.83	0.26
Total Debt/Equity (%)	144.87	98.96	99.61	97.81	93.57	105.28	110.93	116.68	110.67	134.05	80.9	93.44	150.43	110.6	59.79
Total Debt/Capital (%)	84.5	75.48	72.64	69.69	65.51	65.86	65.39	63.76	60.46	63.43	46.68	50	61.3	57.7	41.51
Total Debt/Total Assets (%)	20.55	15.07	14.75	13.08	12.56	13.97	14.59	14.69	13.66	14.37	8.75	10.23	16.24	11.83	6.81
Net Debt to Equity	102.07	59.41	89.1	58.19	79.05	82.48	95.33	103.23	90.06	49.5	-17.44	63.36	110.01	31.24	38.16
Net Debt/Capital (%)	79.35	64.89	70.37	57.77	61.61	60.18	61.88	60.88	55.44	39.04	-23.27	40.41	53.67	27.81	31.18
EBITDA	33	35	16	17	18	20	42	47	31	40	34	64	23	134	10
EBITDA-CapEx	22	1	-13	-34	-29	-22	26	20	-4	8	4	52	8	109	-19
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.77	4.9	5.56	5.69	6.61	7.24	7.72	8.35	8.93	8.28	8.47	8.79	8.92	7.6	8.46
Long-Term Debt/Equity (%)	102.91	98.96	99.61	97.81	93.57	105.28	110.93	116.68	110.67	134.05	80.9	93.44	150.43	110.6	2.31
Long-Term Debt/Capital (%)	60.03	75.48	72.64	69.69	65.51	65.86	65.39	63.76	60.46	63.43	46.68	50	61.3	57.7	1.6
Long-Term Debt/Total Assets (%)	14.6	15.07	14.75	13.08	12.56	13.97	14.59	14.69	13.66	14.37	8.75	10.23	16.24	11.83	0.26
Total Debt/Equity (%)	144.87	98.96	99.61	97.81	93.57	105.28	110.93	116.68	110.67	134.05	80.9	93.44	150.43	110.6	59.79
Total Debt/Capital (%)	84.5	75.48	72.64	69.69	65.51	65.86	65.39	63.76	60.46	63.43	46.68	50	61.3	57.7	41.51
Total Debt/Total Assets (%)	20.55	15.07	14.75	13.08	12.56	13.97	14.59	14.69	13.66	14.37	8.75	10.23	16.24	11.83	6.81
CFO/Total Liabilities	2.27	1.65	1.63	1.36	1.13	1.72	1.36	1.38	1.62	0.99	1.79	1.45	1.07	1.75	1
CFO/CapEx	24.83	5.29	6.2	3.35	3.08	5.31	11.62	7.03	6.59	5.22	10.67	22.77	14.2	17.8	8.25
Altman's Z-Score	0.15	0.19	0.21	0.2	0.22	0.24	0.27	0.26	0.27	0.19	0.23	0.21	0.2	0.19	0.2

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	8.78	8.34	8.37	8.56	10.02	12.22	12.25	11.61	11.32	10.84	10.84	11.56	9.84	7.6	7.2
Days Sales Outstanding	41.58	43.77	43.61	42.62	36.43	29.86	29.81	31.45	32.25	33.67	33.67	31.59	37.08	47.99	50.71
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	1,419	1,784	2,165	2,059	2,176	2,439	2,992	2,720	2,977	1,600	2,488	1,957	1,670	2,587	2,429
- Cash & Cash Equivalents	816	751	204	782	284	450	313	269	419	1,703	2,091	684	981	2,381	657
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	300	300	300	300	300
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	2,762	1,880	1,930	1,930	1,830	2,080	2,225	2,330	2,250	2,700	1,720	2,125	3,650	3,318	1,817
Enterprise Value	3,365	1,131	1,530	158	1,341	2,145	3,637	3,467	3,322	348	279	1,647	2,644	2,389	1,274
Total Capital	3,269	2,491	2,657	2,769	2,793	3,158	3,403	3,654	3,721	4,257	3,685	4,250	5,954	5,751	4,377
Total Debt/Capital (%)	84.5	75.48	72.64	69.69	65.51	65.86	65.39	63.76	60.46	63.43	46.68	50	61.3	57.7	41.51
Total Debt / EV	0.82	1.66	1.26	12.2	1.36	0.97	0.61	0.67	0.68	7.76	6.16	1.29	1.38	1.39	1.43
EV/Sales	7.56	2.74	3.81	0.36	2.9	4.49	7.49	6.72	6.1	0.63	0.49	2.49	3.56	3.31	1.76
EV/EBITDA	102.51	32.79	97.02	9.12	74.98	109.96	87.27	74.18	106.95	8.72	8.24	25.72	115.13	17.81	131.05
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	12.86	6.47	8.44	0.91	9.39	9.68	20.24	18.18	14.19	2.09	0.89	6.14	12.36	5.44	5.37
EV/Free Cash Flow to Firm	12.36	5.44	7.26	0.7	7.09	8.14	18.64	15.91	12.32	1.75	0.81	5.88	11.55	5.15	4.79
Diluted Market Cap	1,420	1,785	2,168	2,068	2,185	2,452	3,002	2,724	2,978	1,601	2,490	1,961	1,672	2,589	2,431
Diluted Enterprise Value	3,366	2,914	3,894	3,217	3,731	4,082	4,914	4,785	4,808	2,598	2,419	3,702	4,641	3,826	3,891
EV per Share	30.21	10.56	14.62	1.56	14.02	23.47	40.91	40.78	41.28	4.54	3.85	25.23	40.56	32.17	15.88
TTM Sales	445	414	402	434	463	477	486	516	544	556	566	662	743	722	725
TTM EBITDA	33	35	16	17	18	20	42	47	31	40	34	64	23	134	10
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	262	175	181	174	143	222	180	191	234	167	314	268	214	439	237
TTM Free Cash Flow to Firm	272	208	211	226	189	263	195	218	270	199	344	280	229	464	266

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	5.22	8.58	10.29	9.17	11.54	9.31	15.38	12.5	11.04	8.06	7.24	7	7.3	5.58	9.15
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	3,365	1,131	1,530	158	1,341	2,145	3,637	3,467	3,322	348	279	1,647	2,644	2,389	1,274
Low Price	12.69	12.15	15.64	20.08	19.52	19.11	25.15	30.66	24.67	20.01	20.45	29.46	23.9	23.36	23.75
EV/Sales	7.56	2.74	3.81	0.36	2.9	4.49	7.49	6.72	6.1	0.63	0.49	2.49	3.56	3.31	1.76
EV/EBITDA	102.51	32.79	97.02	9.12	74.98	109.96	87.27	74.18	106.95	8.72	8.24	25.72	115.13	17.81	131.05
Price/Earnings	12.77	12.91	14.29	13.09	13.57	14.86	17.24	13.34	14.16	9.23	14.34	8.83	6.88	13.95	11.49
Price/Earnings Average	16.03	12.09	12.53	14.24	13.1	13.38	16.61	14.21	12.02	13.05	12.41	9.82	8.35	11.84	11.75
Price/Earnings High	18.57	14.28	15.74	15.77	14.47	15.1	18.42	15.72	14.64	16.89	14.64	11.21	10.52	15.01	14.65
Price/Earnings Low	12.72	9.42	10.81	12.91	11.65	10.65	12.89	12.79	9.44	8.85	8.54	8.68	6.42	9.35	9.01
Price/Book Value	2.8	2.92	2.98	2.45	2.26	2.26	2.54	2.05	2.02	1.03	1.49	1.07	0.83	1.21	1.07
Price/Book Value Average	3.52	2.74	2.61	2.67	2.18	2.04	2.45	2.19	1.72	1.45	1.29	1.19	1.01	1.03	1.1
Price/Book Value High	4.07	3.23	3.28	2.96	2.41	2.3	2.71	2.42	2.09	1.88	1.53	1.36	1.27	1.3	1.37
Price/Book Value Low	2.79	2.13	2.25	2.42	1.94	1.62	1.9	1.97	1.35	0.99	0.89	1.05	0.78	0.81	0.84
Price/Tangible Book Value	0.86	1.09	1.29	1.23	1.31	1.45	1.75	1.61	1.73	0.94	1.64	1.18	0.92	1.15	1.06
Price/Tangible Book Value Average	1.08	1.02	1.13	1.34	1.27	1.31	1.69	1.72	1.47	1.33	1.42	1.31	1.12	0.97	1.08
Price/Tangible Book Value High	1.25	1.2	1.43	1.49	1.4	1.48	1.87	1.9	1.79	1.72	1.68	1.49	1.41	1.24	1.35
Price/Tangible Book Value Low	0.86	0.79	0.98	1.22	1.13	1.04	1.31	1.55	1.15	0.9	0.98	1.16	0.86	0.77	0.83
Price/Sales	3.19	4.32	5.38	4.75	4.7	5.11	6.16	5.27	5.47	2.88	4.4	2.96	2.25	3.58	3.35
Price/Sales Average	4	4.04	4.72	5.17	4.53	4.6	5.94	5.61	4.65	4.07	3.8	3.29	2.73	3.04	3.43
Price/Sales High	4.64	4.77	5.93	5.72	5.01	5.19	6.58	6.21	5.66	5.26	4.49	3.76	3.44	3.86	4.27
Price/Sales Low	3.18	3.15	4.07	4.69	4.03	3.66	4.6	5.05	3.65	2.76	2.62	2.91	2.1	2.4	2.63
Price/Cash Flow	5.42	10.2	11.93	11.86	15.23	11	16.65	14.26	12.72	9.61	7.91	7.29	7.81	5.89	10.25
Price/Cash Flow Average	6.81	9.55	10.46	12.9	14.7	9.9	16.04	15.19	10.8	13.58	6.85	8.11	9.48	5	10.48
Price/Cash Flow High	7.89	11.28	13.14	14.28	16.23	11.17	17.79	16.81	13.15	17.58	8.08	9.26	11.94	6.34	13.07
Price/Cash Flow Low	5.4	7.44	9.02	11.69	13.07	7.88	12.44	13.67	8.48	9.21	4.72	7.16	7.28	3.95	8.04
Price/Free Cash Flow Average	6.55	8.04	9.02	9.98	11.14	8.38	14.82	13.31	9.38	11.4	6.26	7.78	8.86	4.73	9.36
Price/Free Cash Flow High	7.59	9.49	11.34	11.05	12.3	9.45	16.44	14.73	11.42	14.76	7.39	8.88	11.16	6	11.67
Price/Free Cash Flow Low	5.2	6.26	7.78	9.05	9.9	6.67	11.5	11.98	7.37	7.73	4.31	6.88	6.81	3.74	7.17
EV/Sales Average	8.38	6.77	9.02	7.82	7.87	8.01	9.87	9.61	8.01	5.86	3.68	5.92	6.73	4.75	5.44
EV/Sales High	9.01	7.5	10.23	8.37	8.34	8.6	10.52	10.2	9.02	7.06	4.36	6.39	7.44	5.57	6.29
EV/Sales Low	7.55	5.88	8.37	7.33	7.37	7.07	8.54	9.04	7.01	4.55	2.5	5.54	6.1	4.12	4.64
EV/EBITDA Average	113.55	81.15	229.8	195.4	203.84	196.06	115.03	106.08	140.35	81.68	61.41	61.17	217.56	25.59	405.84
EV/EBITDA High	122.15	89.89	260.63	209.23	216.09	210.49	122.55	112.68	158.08	98.37	72.85	65.98	240.44	29.98	468.89
EV/EBITDA Low	102.34	70.43	213.24	183.28	190.79	173.06	99.52	99.88	122.87	63.45	41.65	57.21	197.1	22.16	346.19
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	12.74	16.66	20.68	20.36	22.75	26.68	33.65	32	36.99	20.86	34.31	29.98	25.62	34.85	30.29
High Price	18.53	18.42	22.78	24.53	24.25	27.1	35.95	37.7	38.26	38.18	35.04	38.06	39.17	37.49	38.62
Enterprise Value Average	3,727	2,800	3,625	3,390	3,646	3,825	4,794	4,958	4,359	3,260	2,083	3,918	4,997	3,432	3,944
Enterprise Value High	4,010	3,102	4,111	3,629	3,865	4,107	5,108	5,266	4,910	3,926	2,471	4,226	5,523	4,021	4,557
Enterprise Value Low	3,360	2,430	3,364	3,179	3,413	3,376	4,148	4,668	3,816	2,532	1,412	3,664	4,527	2,972	3,364

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	109	106	102	98	93	90	87	83	79	76	65	65	65	81	78
Diluted Weighted Avg Shares	111	107	105	102	96	92	89	85	80	77	73	65	65	74	80
Basic Weighted Avg Shares	111	107	105	101	96	91	89	85	80	77	73	65	65	74	80
Revenue per Share	3.99	3.86	3.84	4.29	4.84	5.22	5.46	6.07	6.76	7.25	7.81	10.13	11.39	9.72	9.04
EBITDA per Share	0.29	0.32	0.15	0.17	0.19	0.21	0.47	0.55	0.39	0.52	0.47	0.98	0.35	1.81	0.12
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1	1.29	1.45	1.56	1.68	1.79	1.95	2.4	2.61	2.26	2.39	3.4	3.72	2.5	2.64
Basic EPS from Cont Ops	1	1.29	1.45	1.56	1.68	1.79	1.95	2.4	2.61	2.26	2.53	3.62	3.95	2.69	2.82
Diluted EPS, GAAP	1	1.29	1.45	1.55	1.67	1.78	1.94	2.4	2.61	2.26	2.39	3.39	3.72	2.5	2.63
Diluted EPS from Cont Ops	1	1.29	1.45	1.55	1.67	1.78	1.94	2.4	2.61	2.26	2.53	3.61	3.94	2.69	2.82
Dividend per Share	0.23	0.3	0.36	0.42	0.53	0.55	0.84	0.66	0.79	0.87	1	1.17	1.2	1.2	1.24
Cash Flow per Share	2.35	1.63	1.73	1.72	1.49	2.43	2.02	2.24	2.91	2.17	4.34	4.11	3.28	5.92	2.96
Free Cash Flow per Basic Share	2.25	1.32	1.45	1.21	1.01	1.97	1.85	1.92	2.47	1.76	3.93	3.93	3.05	5.58	2.6
Cash & Equivalents per Share	7.33	23.65	24.5	37.88	27.86	25.97	17.76	18.63	23.67	51.52	58.31	41.89	45.65	51.41	40.81
Book Value per Share	4.55	5.7	6.94	8.3	10.07	11.8	13.25	15.58	18.29	20.29	22.95	27.95	30.74	28.73	28.19
Tangible Book Value per Share	14.82	15.35	15.98	16.51	17.32	18.37	19.2	19.83	21.42	22.21	20.9	25.51	27.85	30.33	28.65

WaFd, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)