Walker & Dunlop Inc Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Walker & Dunlop Inc's revenue grew 7.4% year-over-year to $1.1B, a solid pace of expansion. This earns a growth score of 50/100.
Walker & Dunlop Inc has a moderate D/E ratio of 1.50. This balance of debt and equity financing earns a leverage score of 56/100.
Walker & Dunlop Inc has a free cash flow margin of 10.3%, earning a moderate score of 51/100. The company generates positive cash flow after capital investments, but with room for improvement.
Walker & Dunlop Inc generates a 6.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 25/100. This is up from 6.2% the prior year.
Walker & Dunlop Inc passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Walker & Dunlop Inc generates $1.20 in operating cash flow ($129.4M OCF vs $108.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
This page shows Walker & Dunlop Inc (WD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).
Key Financial Metrics
Walker & Dunlop Inc generated $1.1B in revenue in fiscal year 2024. This represents an increase of 7.4% from the prior year.
Walker & Dunlop Inc generated $116.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 796.2% from the prior year.
Walker & Dunlop Inc reported $108.2M in net income in fiscal year 2024. This represents an increase of 0.8% from the prior year.
Walker & Dunlop Inc earned $3.19 per diluted share (EPS) in fiscal year 2024. This represents an increase of 0.3% from the prior year.
Walker & Dunlop Inc held $279.3M in cash against $0 in long-term debt as of fiscal year 2024.
Walker & Dunlop Inc paid $2.60 per share in dividends in fiscal year 2024. This represents an increase of 3.2% from the prior year.
Walker & Dunlop Inc had 34M shares outstanding in fiscal year 2024. This represents an increase of 0.8% from the prior year.
Walker & Dunlop Inc's net profit margin was 9.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Walker & Dunlop Inc's ROE was 6.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 0.0 percentage points from the prior year.
Walker & Dunlop Inc spent $12.4M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 39.6% from the prior year.
Walker & Dunlop Inc invested $13.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 20.0% from the prior year.
WD Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $337.7M+5.8% | $319.2M+34.5% | $237.4M-30.5% | $341.5M+26.1% | $270.7M+18.7% | $228.1M-16.9% | $274.3M+2.1% | $268.7M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $16.5M-1.9% | $16.8M+8.1% | $15.5M-37.9% | $25.0M+39.7% | $17.9M+107.6% | $8.6M-3.0% | $8.9M-36.3% | $13.9M |
| Income Tax | $12.5M+0.7% | $12.4M+393.3% | $2.5M-77.0% | $11.0M+38.6% | $7.9M+175.9% | $2.9M-72.3% | $10.3M+46.1% | $7.1M |
| Net Income | $33.5M-1.5% | $34.0M+1132.8% | $2.8M-93.9% | $44.8M+97.8% | $22.7M+91.0% | $11.9M-62.4% | $31.6M+47.3% | $21.5M |
| EPS (Diluted) | $0.98-1.0% | $0.99+1137.5% | $0.08-93.9% | $1.32+97.0% | $0.67+91.4% | $0.35-62.4% | $0.93+45.3% | $0.64 |
WD Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $5.8B+24.0% | $4.7B+3.6% | $4.5B+3.0% | $4.4B+4.9% | $4.2B+9.1% | $3.8B-5.6% | $4.1B-5.3% | $4.3B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $274.8M+17.6% | $233.7M+29.1% | $181.0M-35.2% | $279.3M+34.2% | $208.1M-3.9% | $216.5M-34.1% | $328.7M+39.1% | $236.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $374.3M+3.8% | $360.6M-3.2% | $372.7M+11.0% | $335.9M+23.1% | $272.8M+9.0% | $250.4M+7.2% | $233.6M-11.9% | $265.2M |
| Goodwill | $868.7M0.0% | $868.7M0.0% | $868.7M0.0% | $868.7M-3.7% | $901.7M0.0% | $901.7M0.0% | $901.7M-5.1% | $949.7M |
| Total Liabilities | $4.0B+38.0% | $2.9B+5.3% | $2.8B+5.6% | $2.6B+7.4% | $2.4B+16.8% | $2.1B-9.4% | $2.3B-9.4% | $2.5B |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.8B+0.9% | $1.8B+1.0% | $1.7B-0.9% | $1.7B+3.0% | $1.7B-1.1% | $1.7B-0.5% | $1.7B+1.0% | $1.7B |
| Retained Earnings | $1.3B+0.8% | $1.3B+0.8% | $1.3B-1.5% | $1.3B+2.3% | $1.3B0.0% | $1.3B-0.8% | $1.3B+0.8% | $1.3B |
WD Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$948.1M-297.6% | -$238.5M+15.2% | -$281.1M-153.0% | $530.8M+323.2% | -$237.8M-719.4% | $38.4M-88.4% | $331.9M-39.5% | $548.6M |
| Capital Expenditures | $2.3M-9.9% | $2.6M-29.2% | $3.6M-7.8% | $3.9M+2.6% | $3.8M+19.1% | $3.2M+38.8% | $2.3M-47.0% | $4.4M |
| Free Cash Flow | -$950.4M-294.3% | -$241.0M+15.4% | -$284.7M-154.0% | $526.9M+318.0% | -$241.7M-787.1% | $35.2M-89.3% | $329.6M-39.4% | $544.2M |
| Investing Cash Flow | -$2.9M+87.1% | -$22.5M+42.8% | -$39.4M-3870.0% | -$992K+78.3% | -$4.6M+81.8% | -$25.1M-27.2% | -$19.7M-154.8% | $36.0M |
| Financing Cash Flow | $996.1M+207.1% | $324.3M+46.1% | $222.0M+147.4% | -$468.6M-292.6% | $243.3M+296.0% | -$124.2M+43.9% | -$221.4M+61.0% | -$567.8M |
| Dividends Paid | $23.0M+0.2% | $22.9M-0.1% | $22.9M+2.6% | $22.4M+0.5% | $22.2M+1.3% | $22.0M+3.1% | $21.3M+0.7% | $21.1M |
| Share Buybacks | $1.0M+60.9% | $645K-92.5% | $8.6M+2227.1% | $369K-54.4% | $809K-91.7% | $9.8M+518.4% | $1.6M+81.7% | $871K |
WD Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Margin | 9.9%-0.7pp | 10.6%+9.5pp | 1.2%-12.0pp | 13.1%+4.8pp | 8.4%+3.2pp | 5.2%-6.3pp | 11.5%+3.5pp | 8.0% |
| Return on Equity | 1.9%-0.1pp | 1.9%+1.8pp | 0.2%-2.4pp | 2.6%+1.2pp | 1.3%+0.7pp | 0.7%-1.1pp | 1.8%+0.6pp | 1.3% |
| Return on Assets | 0.6%-0.2pp | 0.7%+0.7pp | 0.1%-1.0pp | 1.0%+0.5pp | 0.5%+0.2pp | 0.3%-0.5pp | 0.8%+0.3pp | 0.5% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 2.28+0.6 | 1.66+0.1 | 1.60+0.1 | 1.50+0.1 | 1.44+0.2 | 1.22-0.1 | 1.34-0.2 | 1.49 |
| FCF Margin | -281.5%-206.0pp | -75.5%+44.5pp | -120.0%-274.3pp | 154.3%+243.6pp | -89.3%-104.7pp | 15.4%-104.7pp | 120.1%-82.4pp | 202.5% |
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Frequently Asked Questions
What is Walker & Dunlop Inc's annual revenue?
Walker & Dunlop Inc (WD) reported $1.1B in total revenue for fiscal year 2024. This represents a 7.4% 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 Walker & Dunlop Inc's revenue growing?
Walker & Dunlop Inc (WD) revenue grew by 7.4% year-over-year, from $1.1B to $1.1B in fiscal year 2024.
Is Walker & Dunlop Inc profitable?
Yes, Walker & Dunlop Inc (WD) reported a net income of $108.2M in fiscal year 2024, with a net profit margin of 9.6%.
What is Walker & Dunlop Inc's earnings per share (EPS)?
Walker & Dunlop Inc (WD) reported diluted earnings per share of $3.19 for fiscal year 2024. This represents a 0.3% 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.
What is Walker & Dunlop Inc's net profit margin?
Walker & Dunlop Inc (WD) had a net profit margin of 9.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Walker & Dunlop Inc pay dividends?
Yes, Walker & Dunlop Inc (WD) paid $2.60 per share in dividends during fiscal year 2024.
What is Walker & Dunlop Inc's return on equity (ROE)?
Walker & Dunlop Inc (WD) has a return on equity of 6.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Walker & Dunlop Inc's free cash flow?
Walker & Dunlop Inc (WD) generated $116.4M in free cash flow during fiscal year 2024. This represents a 796.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Walker & Dunlop Inc's operating cash flow?
Walker & Dunlop Inc (WD) generated $129.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Walker & Dunlop Inc's total assets?
Walker & Dunlop Inc (WD) had $4.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Walker & Dunlop Inc's capital expenditures?
Walker & Dunlop Inc (WD) invested $13.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Walker & Dunlop Inc buy back shares?
Yes, Walker & Dunlop Inc (WD) spent $12.4M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Walker & Dunlop Inc have outstanding?
Walker & Dunlop Inc (WD) had 34M shares outstanding as of fiscal year 2024.
What is Walker & Dunlop Inc's debt-to-equity ratio?
Walker & Dunlop Inc (WD) had a debt-to-equity ratio of 1.50 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Walker & Dunlop Inc's return on assets (ROA)?
Walker & Dunlop Inc (WD) had a return on assets of 2.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Walker & Dunlop Inc's Piotroski F-Score?
Walker & Dunlop Inc (WD) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Walker & Dunlop Inc's earnings high quality?
Walker & Dunlop Inc (WD) has an earnings quality ratio of 1.20x, considered cash-backed (high quality). 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 Walker & Dunlop Inc?
Walker & Dunlop Inc (WD) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.