What is Western Alliance Bancorporation's earnings per share (EPS)?

Western Alliance Bancorporation (WAL) reported diluted earnings per share of $8.73 for fiscal year 2025. This represents a 23.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Western Alliance Bancorporation (WAL) Financials

WAL

Trailing 12 months to June 30, 2026

Revenue $3.9B +19.7% YoY

Net Income $983.3M +16.2% YoY

EPS (Diluted) $8.88 +16.7% YoY

Operating Cash Flow -$1.5B +58.7% YoY

Market Cap $8.1B as of Oct 10, 2026

Price / Sales 2.1x on $3.9B revenue, trailing 12 months to June 30, 2026

Price / Earnings 8.2x on $983.3M net income, trailing 12 months to June 30, 2026

Price / Book 1.0x on $7.8B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 10, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Jul 31, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Jul 31, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WAL SEC filings page.

Western Alliance Bancorporation (WAL) reported $3.9B in revenue over the twelve months to Jun 30, 2026, up 19.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI WAL FY2025 2026-10-04

Balance-sheet expansion is supporting growth, while profitability has recovered without a major improvement in asset efficiency.

From FY2023 to FY2025, revenue increased 35.3% while net income increased 34.2%, leaving net profit margin near 27%. That combination indicates the business expanded without materially changing its earnings economics: more scale, but little incremental margin leverage.

Assets expanded from $80.9B in FY2024 to $92.8B in FY2025, while equity rose from $6.7B to $7.7B. Because debt-to-equity fell from 0.4x to 0.2x, the reported expansion was not accompanied by a proportional increase in long-term debt relative to equity.

Profit and reported cash movement diverged sharply: FY2025 net income was $969M, alongside operating cash flow of -$2.68B, following another negative operating cash-flow year. For this bank, the pattern means balance-sheet funding and investment flows dominate the cash-flow statement, so operating cash flow is not a straightforward measure of earnings conversion.

Financial Health Signals

Financial Health Score 53/100

Scored as: Banks peer group

Scored against banks for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Western Alliance Bancorporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Earnings

Western Alliance Bancorporation earned a return on assets of 1.0% in fiscal year 2025, which is the profit it made on every dollar of assets on its books. This is unchanged from the prior year. Earnings ranks banks on that return over three years, and Western Alliance Bancorporation scores 62/100 among other banks.

Growth

Western Alliance Bancorporation reported revenue of $3.5B in fiscal year 2025, against $3.2B in fiscal year 2024. Growth ranks banks on the three-year path of their net revenue, which is interest income and fee income less the interest they pay out, and Western Alliance Bancorporation scores 75/100 among other banks.

Capital

Western Alliance Bancorporation funded 8.2% of its assets with shareholders' equity at the end of fiscal year 2025, holding $7.7B of equity against $92.8B of assets. Capital ranks banks on that cushion, and Western Alliance Bancorporation scores 11/100 among other banks.

Efficiency

Efficiency measures what a bank spends running itself against the revenue that spending brings in, so a lower ratio is the better one. Western Alliance Bancorporation scores 61/100 on it among other banks.

Credit Quality

Credit Quality measures the money a bank set aside for loans it expects to go bad, against the size of the loan book it set that money aside for. Western Alliance Bancorporation scores 29/100 on it among other banks.

Stability

Western Alliance Bancorporation reported net income of $969.0M in fiscal year 2025, against $788.0M in fiscal year 2024. Stability ranks banks on how steady net income has been across five years, and Western Alliance Bancorporation scores 78/100 among other banks.

Piotroski F-Score Partial

4/7

Western Alliance Bancorporation passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality No Cash Backing

$2.76used

For every $1 of reported earnings, Western Alliance Bancorporation used $2.76 of operating cash (-$2.7B OCF vs $969.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

Revenue

$995.7M

YoY+17.7%

QoQ-2.3%

5Y CAGR+14.5%

10Y CAGR+19.2%

Western Alliance Bancorporation generated $995.7M in revenue in Q2 2026. This represents an increase of 17.7% from the same quarter a year earlier. Against the prior quarter it is down 2.3%.

Net Income

$261.7M

YoY+13.6%

QoQ+43.7%

5Y CAGR+3.2%

10Y CAGR+15.6%

Western Alliance Bancorporation reported $261.7M in net income in Q2 2026. This represents an increase of 13.6% from the same quarter a year earlier. Against the prior quarter it is up 43.7%.

EPS (Diluted)

$2.36

YoY+14.0%

QoQ+43.0%

5Y CAGR+1.7%

10Y CAGR+14.7%

Western Alliance Bancorporation earned $2.36 per diluted share (EPS) in Q2 2026. This represents an increase of 14.0% from the same quarter a year earlier. Against the prior quarter it is up 43.0%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$5.9B

YoY+114.5%

QoQ-30.6%

5Y CAGR+11.8%

10Y CAGR+23.9%

Western Alliance Bancorporation held $5.9B in cash against $1.5B in long-term debt as of Q2 2026.

Dividends Per Share

$0.42

YoY+10.5%

QoQ0.0%

5Y CAGR+10.9%

Western Alliance Bancorporation paid $0.42 per share in dividends in Q2 2026. This represents an increase of 10.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

109M

YoY-1.1%

QoQ-0.1%

5Y CAGR+0.9%

10Y CAGR+0.4%

Western Alliance Bancorporation had 109M shares outstanding in Q2 2026. This represents a decrease of 1.1% from the same quarter a year earlier. Against the prior quarter it is down 0.1%.

Free Cash Flow

Not reported for Q2 2026.

Margins & Returns

Net Margin

26.3%

YoY-1.0pp

QoQ+8.4pp

5Y change-17.9pp

10Y change-9.5pp

Western Alliance Bancorporation's net profit margin was 26.3% in Q2 2026, showing the share of revenue converted to profit. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.4 percentage points.

Return on Equity

3.3%

YoY+0.1pp

QoQ+0.9pp

5Y change-2.2pp

10Y change-0.1pp

Western Alliance Bancorporation's ROE was 3.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$2.3M

QoQ-95.4%

Western Alliance Bancorporation spent $2.3M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. Against the prior quarter it is down 95.4%.

R&D Spending

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

WAL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WAL quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$3.9B	$3.5B+12.0%	$3.2B+20.7%	$2.6B+3.1%	$2.5B+30.1%	$2.0B+57.8%	$1.2B+12.0%	$1.1B+15.3%	$959.0M+15.5%	$830.0M+18.6%	$700.1M+34.0%	$522.3M+27.5%	$409.5M+15.3%	$355.1M+5.4%	$336.8M+15.3%	$292.1M
SG&A Expenses	$805.0M	$757.5M+20.0%	$631.1M+11.4%	$566.3M+5.0%	$539.5M+15.6%	$466.7M+53.7%	$303.6M+8.7%	$279.3M+10.3%	$253.2M+18.1%	$214.3M+13.5%	$188.8M+26.0%	$149.8M+18.3%	$126.6M+11.6%	$113.4M+8.0%	$105.0M+12.8%	$93.1M
Interest Expense	$1.8B	$1.8B-4.9%	$1.9B+13.3%	$1.7B+256.8%	$475.5M+332.7%	$109.9M+15.8%	$94.9M-48.6%	$184.6M+57.0%	$117.6M+93.3%	$60.8M+40.6%	$43.3M+32.9%	$32.6M+3.4%	$31.5M+5.8%	$29.8M+6.2%	$28.0M-28.0%	$38.9M
Income Tax	$221.1M	$216.6M+6.4%	$203.5M-3.6%	$211.2M-18.4%	$258.8M+15.6%	$223.8M+93.1%	$115.9M+10.4%	$105.0M+40.9%	$74.5M-41.0%	$126.3M+24.6%	$101.4M+57.7%	$64.3M+32.9%	$48.4M+62.2%	$29.8M+15.0%	$25.9M+53.9%	$16.8M
Net Income	$983.3M	$969.0M+23.0%	$788.0M+9.1%	$722.0M-31.7%	$1.1B+17.6%	$899.0M+77.5%	$506.6M+1.5%	$499.2M+14.5%	$435.8M+33.9%	$325.5M+25.3%	$259.8M+33.7%	$194.2M+31.3%	$148.0M+28.7%	$115.0M+58.3%	$72.6M+130.6%	$31.5M
EPS (Basic)	N/A	$8.79+23.1%	$7.14+9.0%	$6.55-32.8%	$9.74+11.7%	$8.72+72.3%	$5.06+4.1%	$4.86+16.8%	$4.16+33.3%	$3.12+23.8%	$2.52+22.9%	$2.05+21.3%	$1.69+27.1%	$1.33-8.3%	$1.45+663.2%	$0.19
EPS (Diluted)	$8.88	$8.73+23.1%	$7.09+8.4%	$6.54-32.6%	$9.70+11.9%	$8.67+72.0%	$5.04+4.1%	$4.84+16.9%	$4.14+33.5%	$3.10+24.0%	$2.50+23.2%	$2.03+21.6%	$1.67+27.5%	$1.31	$1.44	$0.19
Diluted Shares (Avg)	N/A	110M+0.2%	109M+0.7%	109M+0.8%	108M+4.2%	103M+2.8%	101M-2.5%	103M-2.2%	105M+0.4%	105M+1.1%	104M+9.1%	95M+8.8%	88M+1.1%	87M	93M	81M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$995.7M+17.7%	$1.0B+31.0%	$980.9M+17.0%	$938.2M+14.0%	$845.9M+9.6%	$778.0M+6.8%	$838.4M+22.9%	$823.1M+14.9%
SG&A Expenses	$204.3M+13.6%	$205.5M+12.7%	$201.7M+21.9%	$193.5M+22.6%	$179.9M+17.6%	$182.4M+17.8%	$165.4M+22.9%	$157.8M+15.0%
Interest Expense	$435.0M-4.8%	$421.9M-5.2%	$451.2M-4.4%	$475.1M-5.6%	$456.8M-6.9%	$445.0M-2.4%	$472.1M+5.5%	$503.1M+14.4%
Income Tax	$63.2M+18.1%	$42.1M-11.0%	$62.5M+47.1%	$53.3M+1.9%	$53.5M-1.5%	$47.3M-13.1%	$42.5M-32.6%	$52.3M-14.7%
Net Income	$261.7M+13.6%	$182.1M-8.5%	$286.1M+31.7%	$253.4M+26.8%	$230.4M+19.0%	$199.1M+12.2%	$217.2M+47.3%	$199.8M-7.8%
EPS (Basic)	$2.37+13.9%	$1.65-8.3%	$2.61+32.5%	$2.30+27.1%	$2.08+18.9%	$1.80+11.8%	$1.97+48.1%	$1.81-8.1%
EPS (Diluted)	$2.36+14.0%	$1.65-7.8%	$2.59+32.8%	$2.28+26.7%	$2.07+18.3%	$1.79+11.9%	$1.95+46.6%	$1.80-8.6%
Diluted Shares (Avg)	108M-1.5%	109M-0.8%	N/A	110M+0.3%	110M+0.5%	110M+0.6%	N/A	110M+0.9%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

WAL Balance Sheet

WAL quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$92.8B+14.6%	$80.9B+14.2%	$70.9B+4.6%	$67.7B+21.0%	$56.0B+53.5%	$36.5B+35.9%	$26.8B+16.1%	$23.1B+13.7%	$20.3B+18.2%	$17.2B+20.5%	$14.3B+34.7%	$10.6B+13.9%	$9.3B+22.1%	$7.6B+11.4%	$6.8B
Cash & Equivalents	$3.6B-12.2%	$4.1B+159.9%	$1.6B+51.1%	$1.0B+102.1%	$516.4M-80.7%	$2.7B+514.7%	$434.6M-12.8%	$498.6M+19.6%	$416.8M+46.5%	$284.5M+26.6%	$224.6M+36.6%	$164.4M-46.2%	$305.5M+49.3%	$204.6M+32.0%	$155.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$1.6M0.0%	$1.6M+14.3%	$1.4M+7.7%	$1.3M	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$527.0M0.0%	$527.0M0.0%	$527.0M0.0%	$527.0M+7.3%	$491.0M+69.4%	$289.9M0.0%	$289.9M0.0%	$289.9M0.0%	$289.9M0.0%	$290.0M+0.1%	$289.6M+1147.1%	$23.2M0.0%	$23.2M0.0%	$23.2M-10.4%	$25.9M
Total Liabilities	$84.8B+14.3%	$74.2B+14.6%	$64.8B+3.9%	$62.4B+22.3%	$51.0B+54.4%	$33.0B+38.8%	$23.8B+16.1%	$20.5B+13.2%	$18.1B+18.2%	$15.3B+20.7%	$12.7B+32.1%	$9.6B+13.6%	$8.5B+23.2%	$6.9B+10.6%	$6.2B
Long-Term Debt	$1.4B-42.5%	$2.4B+443.0%	$446.0M-65.9%	$1.3B+68.6%	$775.0M	$0	N/A	N/A	N/A	N/A	$0-100.0%	$210.1M-32.7%	$312.2M+323.5%	$73.7M	N/A
Total Equity	$7.7B+14.1%	$6.7B+10.3%	$6.1B+13.5%	$5.4B+7.9%	$5.0B+45.4%	$3.4B+13.2%	$3.0B+15.4%	$2.6B+17.2%	$2.2B+17.9%	$1.9B+18.9%	$1.6B+59.0%	$1.0B+17.0%	$855.5M+12.7%	$759.4M+19.3%	$636.7M
Retained Earnings	$5.6B+16.2%	$4.8B+14.5%	$4.2B+15.0%	$3.7B+32.1%	$2.8B+38.6%	$2.0B+19.1%	$1.7B+31.0%	$1.3B+51.2%	$848.5M+62.4%	$522.4M+98.9%	$262.6M+207.3%	$85.5M+239.8%	-$61.1M+65.0%	-$174.5M+28.4%	-$243.5M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$98.7B+13.8%	$98.9B+19.0%	$92.8B+14.6%	$91.0B+13.6%	$86.7B+7.6%	$83.0B+7.9%	$80.9B+14.2%	$80.1B+13.0%
Cash & Equivalents	$5.9B+114.5%	$8.6B+160.9%	$3.6B-12.2%	$5.8B+122.1%	$2.8B-32.1%	$3.3B-7.6%	$4.1B+159.9%	$2.6B-25.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	$527.0M0.0%	N/A	N/A	N/A	$527.0M0.0%	N/A
Total Liabilities	$90.6B+14.2%	$90.9B+19.9%	$84.8B+14.3%	$83.3B+13.5%	$79.3B+6.8%	$75.8B+7.1%	$74.2B+14.6%	$73.4B+12.7%
Long-Term Debt	$1.5B-49.1%	$1.1B-32.8%	$1.4B-42.5%	$2.9B+103.1%	$2.9B+567.0%	$1.6B+266.2%	$2.4B+443.0%	$1.4B+87.2%
Total Equity	$7.8B+10.2%	$7.6B+10.0%	$7.7B+14.1%	$7.4B+10.8%	$7.1B+12.3%	$6.9B+12.1%	$6.7B+10.3%	$6.7B+16.2%
Retained Earnings	$6.0B+15.2%	$5.7B+15.3%	$5.6B+16.2%	$5.4B+15.4%	$5.2B+14.8%	$5.0B+14.5%	$4.8B+14.5%	$4.7B+13.2%

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Current Liabilities, Non-Current Liabilities.

WAL Cash Flow Statement

WAL quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$1.5B	-$2.7B+2.3%	-$2.7B-734.4%	-$328.6M-114.6%	$2.2B+184.6%	-$2.7B-496.0%	$670.2M-6.6%	$717.8M+32.7%	$541.0M+41.0%	$383.8M+36.8%	$280.6M+27.3%	$220.4M+31.7%	$167.4M+1.4%	$165.0M+2.8%	$160.6M+12.7%	$142.5M
Depreciation & Amortization	N/A	$106.6M+12.9%	$94.4M+49.8%	$63.0M+20.2%	$52.4M+55.5%	$33.7M+47.2%	$22.9M+23.8%	$18.5M+29.4%	$14.3M+6.8%	$13.4M+7.2%	$12.5M+47.6%	$8.5M+37.3%	$6.2M-10.1%	$6.9M+8.8%	$6.3M-40.6%	$10.6M
Stock-Based Compensation	N/A	$51.4M+7.8%	$47.7M+39.1%	$34.3M-13.8%	$39.8M+13.4%	$35.1M+22.3%	$28.7M+9.5%	$26.2M+1.9%	$25.7M+9.1%	$23.6M+15.8%	$20.3M-20.3%	$25.5M+54.0%	$16.6M+115.3%	$7.7M+21.9%	$6.3M+47.9%	$4.3M
Investing Cash Flow	-$6.9B	-$9.9B-66.7%	-$6.0B-176.4%	-$2.2B+83.6%	-$13.1B+10.8%	-$14.7B-95.2%	-$7.5B-102.5%	-$3.7B-37.2%	-$2.7B+8.2%	-$3.0B-2.3%	-$2.9B-111.5%	-$1.4B+1.4%	-$1.4B-18.1%	-$1.2B-100.5%	-$585.1M+28.0%	-$812.4M
Financing Cash Flow	$11.6B	$12.1B+8.0%	$11.2B+271.8%	$3.0B-73.5%	$11.4B-25.0%	$15.2B+67.1%	$9.1B+209.5%	$2.9B+30.5%	$2.3B-16.6%	$2.7B+1.3%	$2.7B+121.3%	$1.2B+12.0%	$1.1B-2.9%	$1.1B+133.9%	$474.2M-22.0%	$608.2M
Dividends Paid	N/A	N/A	$176.8M+3.1%	$171.5M+3.2%	$166.2M+30.3%	$127.6M+26.0%	$101.3M+97.5%	$51.3M	$0	$0	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$120.7M	$68.1M	$0	$0	$0	$0-100.0%	$71.6M-40.4%	$120.2M+236.7%	$35.7M	$0	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$356.1M+0.4%	-$507.2M+69.3%	-$69.8M+88.8%	-$597.4M+44.1%	-$357.7M+52.0%	-$1.7B-439.6%	-$621.7M-282.2%	-$1.1B-87.5%
Depreciation & Amortization	$29.3M+11.0%	$28.5M+14.0%	$27.5M-7.7%	$27.7M+23.7%	$26.4M+23.4%	$25.0M+20.2%	$29.8M+56.0%	$22.4M+126.3%
Stock-Based Compensation	N/A	$9.0M-41.6%	N/A	N/A	N/A	$15.4M+17.6%	N/A	N/A
Investing Cash Flow	-$2.1B+47.5%	-$457.9M+71.3%	-$3.8B-746.6%	-$595.7M-50.8%	-$4.0B-57.8%	-$1.6B+56.3%	$587.2M+131.2%	-$394.9M+38.8%
Financing Cash Flow	-$184.1M-104.8%	$5.9B+143.7%	$1.7B+10.9%	$4.2B+18690.2%	$3.8B+0.6%	$2.4B-59.0%	$1.5B+502.6%	-$22.5M-100.9%
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$45.0M+2.5%	$45.0M+3.0%	$43.9M+3.1%
Share Buybacks	$2.3M	$50.3M	$57.5M	$10.6M	$0	$0	$0	N/A

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.

WAL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

WAL quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Net Margin	27.4%+2.4pp	24.9%-2.6pp	27.6%-14.0pp	41.6%-4.4pp	46.0%+5.1pp	40.9%-4.2pp	45.2%-0.3pp	45.4%+6.2pp	39.2%+2.1pp	37.1%-0.1pp	37.2%+1.1pp	36.1%+3.8pp	32.4%+10.8pp	21.6%+10.8pp	10.8%
Return on Equity	12.7%+0.9pp	11.8%-0.1pp	11.9%-7.8pp	19.7%+1.6pp	18.1%+3.3pp	14.8%-1.7pp	16.6%-0.1pp	16.7%+2.1pp	14.6%+0.9pp	13.7%+1.5pp	12.2%-2.6pp	14.8%+1.3pp	13.4%+3.9pp	9.6%+4.6pp	5.0%
Return on Assets	1.0%+0.1pp	1.0%-0.1pp	1.0%-0.5pp	1.6%-0.1pp	1.6%+0.2pp	1.4%-0.5pp	1.9%0.0pp	1.9%+0.3pp	1.6%+0.1pp	1.5%+0.2pp	1.4%0.0pp	1.4%+0.2pp	1.2%+0.3pp	0.9%+0.5pp	0.5%
Debt-to-Equity	0.18-0.2x	0.36+0.3x	0.07-0.2x	0.24+0.1x	0.16+0.2x	0.00-7.9x	7.890.0x	7.84-0.3x	8.120.0x	8.09+8.1x	0.00-0.2x	0.21-0.2x	0.36+0.3x	0.10-9.7x	9.75
Asset Turnover	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.030.0x	0.030.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.040.0x	0.04

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Net Margin	26.3%-1.0pp	17.9%-7.7pp	29.2%+3.3pp	27.0%+2.7pp	27.2%+2.2pp	25.6%+1.3pp	25.9%+4.3pp	24.3%-6.0pp
Return on Equity	3.3%+0.1pp	2.4%-0.5pp	3.7%+0.5pp	3.4%+0.4pp	3.2%+0.2pp	2.9%0.0pp	3.2%+0.8pp	3.0%-0.8pp
Return on Assets	0.3%0.0pp	0.2%-0.1pp	0.3%0.0pp	0.3%0.0pp	0.3%0.0pp	0.2%0.0pp	0.3%+0.1pp	0.3%-0.1pp
Debt-to-Equity	0.19-0.2x	0.14-0.1x	0.18-0.2x	0.39+0.2x	0.41+0.3x	0.23+0.2x	0.36+0.3x	0.21+0.1x
Asset Turnover	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Western Alliance Bancorporation WAL	FY2025	$3.5B	$969.0M	27.4%	$8.1B	53/100
Wintrust Financial Corp WTFC	FY2025	$2.7B	$824.0M	30.2%	$9.7B	58/100
UMB Financial Corp UMBF	FY2025	$2.7B	$702.4M	26.5%	$9.9B	51/100
Zions Bancorporation N.A. ZION	FY2025	$3.4B	$899.0M	26.6%	$9.2B	35/100
Comerica Incorporated CMA	FY2024	$3.2B	$698.0M	21.5%	$11.3B	43/100
Old National Bancorp ONB	FY2025	$2.5B	$669.3M	26.5%	$9.5B	52/100

Where Western Alliance Bancorporation Ranks

Frequently Asked Questions

What is Western Alliance Bancorporation's annual revenue?

Western Alliance Bancorporation (WAL) reported $3.5B in total revenue for fiscal year 2025. This represents a 12.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Western Alliance Bancorporation's revenue growing?

Western Alliance Bancorporation (WAL) revenue grew by 12.0% year-over-year, from $3.2B to $3.5B in fiscal year 2025.

Is Western Alliance Bancorporation profitable?

Yes, Western Alliance Bancorporation (WAL) reported a net income of $969.0M in fiscal year 2025, with a net profit margin of 27.4%.

How much debt does Western Alliance Bancorporation have?

As of fiscal year 2025, Western Alliance Bancorporation (WAL) had $3.6B in cash and equivalents against $1.4B in long-term debt.

What is Western Alliance Bancorporation's net profit margin?

Western Alliance Bancorporation (WAL) had a net profit margin of 27.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Western Alliance Bancorporation pay dividends?

Yes, Western Alliance Bancorporation (WAL) paid $1.56 per share in dividends during fiscal year 2025.

What is Western Alliance Bancorporation's return on equity (ROE)?

Western Alliance Bancorporation (WAL) has a return on equity of 12.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Western Alliance Bancorporation's operating cash flow?

Western Alliance Bancorporation (WAL) recorded an outflow of $2.7B in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Western Alliance Bancorporation's total assets?

Western Alliance Bancorporation (WAL) had $92.8B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Western Alliance Bancorporation buy back shares?

Yes, Western Alliance Bancorporation (WAL) spent $68.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Western Alliance Bancorporation have outstanding?

Western Alliance Bancorporation (WAL) had 110M shares outstanding as of fiscal year 2025.

What is Western Alliance Bancorporation's debt-to-equity ratio?

Western Alliance Bancorporation (WAL) had a debt-to-equity ratio of 0.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Western Alliance Bancorporation's return on assets (ROA)?

Western Alliance Bancorporation (WAL) had a return on assets of 1.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Western Alliance Bancorporation's P/E ratio?

Western Alliance Bancorporation (WAL) trades at 8.2x earnings, its market capitalization divided by net income of $983.3M net income, trailing 12 months to June 30, 2026. The market capitalization is $8.1B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Western Alliance Bancorporation's price-to-sales ratio?

Western Alliance Bancorporation (WAL) trades at 2.1x sales, its market capitalization divided by revenue of $3.9B revenue, trailing 12 months to June 30, 2026. The market capitalization is $8.1B as of Oct 10, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Western Alliance Bancorporation's Piotroski F-Score?

Western Alliance Bancorporation (WAL) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Western Alliance Bancorporation's earnings high quality?

For every $1 of reported earnings, Western Alliance Bancorporation (WAL) used $2.76 of operating cash (-$2.7B OCF vs $969.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Western Alliance Bancorporation?

Western Alliance Bancorporation (WAL) scores 53 out of 100 on our Financial Health Score, indicating moderate standing within its banks peer group. The score is a 0-100 composite of six dimensions (Earnings, Growth, Capital, Efficiency, Credit Quality, Stability), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.