What is Walker & Dunlop, Inc.'s earnings per share (EPS)?

Walker & Dunlop, Inc. (WD) reported diluted earnings per share of $1.64 for fiscal year 2025. This represents a -48.6% 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.

Walker & Dunlop, Inc. (WD) Financials

Trailing 12 months to June 30, 2026

Revenue $1.3B +8.0% YoY

Net Income $38.4M -65.2% YoY

EPS (Diluted) $1.12 -65.4% YoY

Free Cash Flow -$131.2M +35.3% YoY

Market Cap $1.2B as of Oct 6, 2026

Price / Sales 0.9x on $1.3B revenue, trailing 12 months to June 30, 2026

Price / Earnings 31.4x on $38.4M net income, trailing 12 months to June 30, 2026

Price / Book 0.7x on $1.7B 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 6, 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 Aug 6, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WD SEC filings page.

Walker & Dunlop, Inc. (WD) reported $1.3B in revenue over the twelve months to Jun 30, 2026, up 8.0% 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 WD FY2025 2026-10-03

Walker & Dunlop’s reported profits have weakened sharply, while cash conversion and rising leverage make the balance sheet more central to operations.

The 2025 gap between net income of $56M and operating cash flow of -$664M indicates that accounting earnings were not translating into usable cash. Receivables rose from $234M in 2023 to $419M in 2025, pointing to cash being tied up in amounts owed by customers rather than funding operations.

Profitability has structurally weakened: net margin fell from 21.1% in FY2021 to 4.6% in FY2025, so the 2025 revenue recovery did not restore earlier earnings conversion. Return on assets also declined from 5.1% to 1.1%, showing that the larger asset base generated less profit.

The 2025 financing pattern suggests greater dependence on external funding: financing cash flow supplied $758M while operating cash flow was negative $664M. Meanwhile, debt-to-equity increased from 1.5x in FY2024 to 1.9x in FY2025, making leverage a more important part of how the business supported its activities.

Financial Health Signals

Financial health score not available

Walker & Dunlop, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

1/6

Walker & Dunlop, Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing

$11.81used

For every $1 of reported earnings, Walker & Dunlop, Inc. used $11.81 of operating cash (-$664.3M OCF vs $56.2M 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

$306.7M

YoY-3.9%

QoQ+1.8%

5Y CAGR+1.7%

10Y CAGR+7.6%

Walker & Dunlop, Inc. generated $306.7M in revenue in Q2 2026. This represents a decrease of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 1.8%.

Net Income

$3.0M

YoY-91.1%

QoQ-81.1%

5Y CAGR-44.3%

10Y CAGR-21.1%

Walker & Dunlop, Inc. reported $3.0M in net income in Q2 2026. This represents a decrease of 91.1% from the same quarter a year earlier. Against the prior quarter it is down 81.1%.

EPS (Diluted)

$0.09

YoY-90.9%

QoQ-80.4%

5Y CAGR-44.6%

10Y CAGR-21.8%

Walker & Dunlop, Inc. earned $0.09 per diluted share (EPS) in Q2 2026. This represents a decrease of 90.9% from the same quarter a year earlier. Against the prior quarter it is down 80.4%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

$1.2B

YoY+585.0%

QoQ+202.0%

Walker & Dunlop, Inc. generated $1.2B in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 585.0% from the same quarter a year earlier. Against the prior quarter it is up 202.0%.

Cash & Debt

$160.9M

YoY-31.2%

QoQ-16.4%

5Y CAGR-13.2%

10Y CAGR+10.2%

Walker & Dunlop, Inc. held $160.9M in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.68

YoY+1.5%

QoQ0.0%

Walker & Dunlop, Inc. paid $0.68 per share in dividends in Q2 2026. This represents an increase of 1.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

34M

YoY+0.8%

QoQ0.0%

5Y CAGR+1.5%

10Y CAGR+1.1%

Walker & Dunlop, Inc. had 34M shares outstanding in Q2 2026. This represents an increase of 0.8% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Net Margin

1.0%

YoY-9.7pp

QoQ-4.3pp

5Y change-18.9pp

10Y change-20.7pp

Walker & Dunlop, Inc.'s net profit margin was 1.0% in Q2 2026, showing the share of revenue converted to profit. This is down 9.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.3 percentage points.

Return on Equity

0.2%

YoY-1.8pp

QoQ-0.7pp

5Y change-4.1pp

10Y change-5.8pp

Walker & Dunlop, Inc.'s ROE was 0.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Share Buybacks

$298K

YoY-53.8%

QoQ-98.4%

5Y CAGR-18.2%

10Y CAGR-22.1%

Walker & Dunlop, Inc. spent $298K on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 53.8% from the same quarter a year earlier. Against the prior quarter it is down 98.4%.

Capital Expenditures

$600K

YoY-76.6%

QoQ-68.2%

5Y CAGR-21.4%

10Y CAGR+7.4%

Walker & Dunlop, Inc. invested $600K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 76.6% from the same quarter a year earlier. Against the prior quarter it is down 68.2%.

R&D Spending

Not reported for Q2 2026.

WD 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.

WD 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	$1.3B	$1.2B+9.0%	$1.1B+7.4%	$1.1B-16.2%	$1.3B0.0%	$1.3B+16.2%	$1.1B+32.6%	$817.2M+12.7%	$725.2M+1.9%	$711.9M+23.7%	$575.3M+22.9%	$468.2M+29.8%	$360.8M+13.1%	$319.0M+24.3%	$256.8M+68.5%	$152.3M
SG&A Expenses	$680.3M	$647.8M+15.8%	$559.2M+8.7%	$514.3M-15.3%	$607.4M+0.6%	$603.5M+28.7%	$468.8M+35.4%	$346.2M+16.4%	$297.3M+2.8%	$289.3M+27.2%	$227.5M+23.2%	$184.6M+23.6%	$149.4M+3963.5%	$3.7M+42.6%	$2.6M+53.3%	$1.7M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$56.7M
EBITDA	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$79.2M
Interest Expense	$62.6M	$64.7M-7.1%	$69.7M+38.4%	$50.3M+2.1%	$49.3M+50.4%	$32.8M+283.4%	$8.6M-40.5%	$14.4M+41.7%	$10.1M+4.0%	$9.7M-1.1%	$9.9M-0.7%	$9.9M-45.5%	$18.2M+32.8%	$13.7M+7.9%	$12.7M+111.7%	$6.0M
Income Tax	$14.3M	$22.0M-27.9%	$30.5M-12.8%	$35.0M-37.5%	$56.0M-35.2%	$86.4M+2.5%	$84.3M+47.6%	$57.1M+10.0%	$51.9M+137.8%	$21.8M-69.5%	$71.5M+35.4%	$52.8M+62.4%	$32.5M+28.6%	$25.3M+14.8%	$22.0M+0.9%	$21.8M
Net Income	$38.4M	$56.2M-48.0%	$108.2M+0.8%	$107.4M-49.8%	$213.8M-19.5%	$265.8M+8.0%	$246.2M+42.0%	$173.4M+7.4%	$161.4M-23.5%	$211.1M+85.4%	$113.9M+38.7%	$82.1M+59.7%	$51.4M+23.8%	$41.5M+23.0%	$33.8M-3.1%	$34.9M
EPS (Basic)	N/A	$1.65-48.3%	$3.19-0.3%	$3.20-50.2%	$6.43-22.2%	$8.27+5.4%	$7.85+39.9%	$5.61+8.9%	$5.15-23.4%	$6.72+83.6%	$3.66+32.6%	$2.76+72.5%	$1.60+30.1%	$1.23-6.8%	$1.32-18.0%	$1.61
EPS (Diluted)	$1.12	$1.64-48.6%	$3.19+0.3%	$3.18-50.0%	$6.36-22.0%	$8.15+6.0%	$7.69+41.1%	$5.45+9.9%	$4.96-23.3%	$6.47+81.2%	$3.57+34.7%	$2.65+67.7%	$1.58+30.6%	$1.21-7.6%	$1.31-18.1%	$1.60
Diluted Shares (Avg)	N/A	33M+0.6%	33M+0.9%	33M+0.6%	33M+3.7%	32M+1.4%	31M+0.9%	31M-1.8%	31M0.0%	31M+2.8%	31M-1.3%	31M-5.1%	33M-5.0%	34M+32.9%	26M+18.8%	22M

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	$306.7M-3.9%	$301.3M+26.9%	$340.0M-0.4%	$337.7M+15.5%	$319.2M+17.9%	$237.4M+4.1%	$341.5M+24.5%	$292.3M+8.8%
SG&A Expenses	$162.9M+0.6%	$152.8M+25.9%	$187.1M+10.6%	$177.4M+21.9%	$161.9M+21.7%	$121.4M+8.9%	$169.2M+34.4%	$145.5M+6.6%
Interest Expense	$15.3M-9.0%	$14.9M-3.9%	$16.0M-36.0%	$16.5M-9.8%	$16.8M-6.2%	$15.5M+80.2%	$25.0M+181.2%	$18.2M+30.8%
Income Tax	-$764K-106.1%	$8.0M+218.5%	-$5.4M-149.7%	$12.5M+41.9%	$12.4M+57.2%	$2.5M-12.0%	$11.0M+6.0%	$8.8M+24.8%
Net Income	$3.0M-91.1%	$15.9M+476.3%	-$13.9M-131.0%	$33.5M+16.1%	$34.0M+49.8%	$2.8M-76.8%	$44.8M+41.9%	$28.8M+34.2%
EPS (Basic)	$0.09-91.0%	$0.46+475.0%	-$0.40-130.3%	$0.98+15.3%	$1.00+49.3%	$0.08-77.1%	$1.32+40.4%	$0.85+32.8%
EPS (Diluted)	$0.09-90.9%	$0.46+475.0%	-$0.41-131.1%	$0.98+15.3%	$0.99+47.8%	$0.08-77.1%	$1.32+41.9%	$0.85+32.8%
Diluted Shares (Avg)	33M-0.3%	33M+0.3%	N/A	33M+0.6%	33M+0.7%	33M+0.8%	N/A	33M+0.9%

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

WD Balance Sheet

WD 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	$5.1B+15.5%	$4.4B+8.1%	$4.1B+0.2%	$4.0B-22.3%	$5.2B+11.9%	$4.7B+73.9%	$2.7B-3.8%	$2.8B+26.0%	$2.2B-27.7%	$3.1B-13.2%	$3.5B+74.9%	$2.0B+78.0%	$1.1B-33.1%	$1.7B+223.1%	$522.6M
Cash & Equivalents	$299.3M+7.2%	$279.3M-15.0%	$328.7M+45.5%	$225.9M-26.1%	$305.6M-4.8%	$321.1M+166.1%	$120.7M+34.0%	$90.1M-52.9%	$191.2M+61.0%	$118.8M-13.3%	$137.0M+20.8%	$113.4M-33.5%	$170.6M+162.3%	$65.0M+20.8%	$53.8M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$419.4M+24.9%	$335.9M+43.8%	$233.6M+15.5%	$202.3M-4.6%	$212.0M+222.5%	$65.7M+26.1%	$52.1M+3.4%	$50.4M+20.9%	$41.7M+41.5%	$29.5M+23.5%	$23.8M+2.6%	$23.2M-15.8%	$27.6M-32.6%	$40.9M+121.2%	$18.5M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$868.7M0.0%	$868.7M-3.7%	$901.7M-6.0%	$959.7M+37.4%	$698.6M+180.6%	$249.0M+38.0%	$180.4M+3.7%	$173.9M+40.5%	$123.8M+28.4%	$96.4M+6.7%	$90.3M+21.2%	$74.5M+23.8%	$60.2M+0.8%	$59.7M	N/A
Total Liabilities	$3.3B+26.4%	$2.6B+13.7%	$2.3B-1.0%	$2.3B-35.8%	$3.6B+5.0%	$3.5B+111.6%	$1.6B-12.9%	$1.9B+34.5%	$1.4B-42.8%	$2.4B-19.4%	$3.0B+91.8%	$1.6B+117.0%	$726.1M-45.6%	$1.3B+272.1%	$358.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.4B+153.5%	$548.2M-53.0%	$1.2B	N/A
Total Equity	$1.7B-0.7%	$1.7B+1.4%	$1.7B+2.0%	$1.7B+9.0%	$1.6B+29.6%	$1.2B+15.5%	$1.0B+14.8%	$902.1M+11.5%	$809.4M+32.6%	$610.2M+25.1%	$487.9M+12.6%	$433.5M+7.6%	$402.8M+14.1%	$353.2M+115.8%	$163.7M
Retained Earnings	$1.3B-2.7%	$1.3B+1.5%	$1.3B+1.6%	$1.3B+10.7%	$1.2B+21.1%	$952.9M+19.6%	$796.8M+19.5%	$666.8M+15.0%	$579.9M+52.2%	$381.0M+40.1%	$272.0M+30.2%	$209.0M+32.6%	$157.5M+35.8%	$116.0M+41.1%	$82.2M

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	$4.9B+4.7%	$6.2B+36.6%	$5.1B+15.5%	$5.8B+26.6%	$4.7B+12.0%	$4.5B+17.9%	$4.4B+8.1%	$4.6B+7.0%
Cash & Equivalents	$160.9M-31.2%	$192.5M+6.4%	$299.3M+7.2%	$274.8M+52.9%	$233.7M+12.3%	$181.0M-16.4%	$279.3M-15.0%	$179.8M-23.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$476.9M+32.2%	$424.4M+13.9%	$419.4M+24.9%	$374.3M+21.8%	$360.6M+32.2%	$372.7M+48.8%	$335.9M+43.8%	$307.4M+15.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$868.7M0.0%	$868.7M0.0%	$868.7M0.0%	$868.7M-3.7%	$868.7M-3.7%	$868.7M-3.7%	$868.7M-3.7%	$901.7M-5.1%
Total Liabilities	$3.2B+8.9%	$4.4B+60.1%	$3.3B+26.4%	$4.0B+41.9%	$2.9B+19.3%	$2.8B+32.4%	$2.6B+13.7%	$2.8B+11.2%
Total Equity	$1.7B-2.5%	$1.7B-0.7%	$1.7B-0.7%	$1.8B+3.3%	$1.8B+3.1%	$1.7B+1.0%	$1.7B+1.4%	$1.7B+0.2%
Retained Earnings	$1.2B-5.0%	$1.3B-2.6%	$1.3B-2.7%	$1.3B+1.8%	$1.3B+1.6%	$1.3B+0.7%	$1.3B+1.5%	$1.3B+0.6%

Not reported in any period shown, so not listed: Current Assets, Inventory, Current Liabilities, Non-Current Liabilities, Long-Term Debt.

WD Cash Flow Statement

WD 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	-$119.2M	-$664.3M-613.5%	$129.4M+25072.8%	-$518K-100.0%	$1.6B+81.8%	$870.5M+161.7%	-$1.4B-430.1%	$427.6M+567.3%	$64.1M-94.0%	$1.1B+40.6%	$759.5M+156.7%	-$1.3B-90.4%	-$703.0M-184.0%	$836.9M+199.7%	-$839.2M-1545.3%	$58.1M
Depreciation & Amortization	N/A	$238.7M+0.5%	$237.5M+4.8%	$226.8M-3.5%	$235.0M+11.8%	$210.3M+24.4%	$169.0M+10.8%	$152.5M+7.3%	$142.1M+8.3%	$131.2M+17.8%	$111.4M+13.5%	$98.2M+22.5%	$80.1M+5.5%	$76.0M+40.9%	$53.9M+139.5%	$22.5M
Stock-Based Compensation	N/A	$26.7M-2.1%	$27.3M-1.9%	$27.8M-18.1%	$34.0M-7.1%	$36.6M+29.2%	$28.3M+17.6%	$24.1M+0.5%	$24.0M+13.4%	$21.1M+14.4%	$18.5M+31.2%	$14.1M+40.9%	$10.0M+8.7%	$9.2M+77.6%	$5.2M+113.7%	$2.4M
Capital Expenditures	$12.1M	$15.8M+21.7%	$13.0M-20.0%	$16.2M-26.3%	$22.0M+138.9%	$9.2M+208.7%	$3.0M-36.7%	$4.7M-0.2%	$4.7M-9.3%	$5.2M+110.1%	$2.5M+75.4%	$1.4M-44.0%	$2.5M-44.1%	$4.5M-1.7%	$4.6M+22.4%	$3.8M
Free Cash Flow	-$131.2M	-$680.1M-684.3%	$116.4M+796.2%	-$16.7M-101.1%	$1.6B+81.2%	$861.2M+160.9%	-$1.4B-434.5%	$422.9M+612.4%	$59.4M-94.4%	$1.1B+40.4%	$757.0M+156.5%	-$1.3B-89.9%	-$705.5M-184.8%	$832.4M+198.6%	-$843.8M-1653.8%	$54.3M
Investing Cash Flow	-$60.4M	-$77.3M-102.8%	-$38.1M-130.1%	$126.9M+194.8%	-$133.8M+64.6%	-$377.6M-427.8%	$115.2M+244.5%	-$79.7M+85.6%	-$552.2M-668.3%	$97.2M+245.5%	-$66.8M-145.2%	-$27.2M	N/A	N/A	N/A	N/A
Financing Cash Flow	$90.7M	$758.1M+590.0%	-$154.7M-2385.8%	$6.8M+100.4%	-$1.6B-246.0%	-$457.7M-130.2%	$1.5B+557.6%	-$331.6M-203.0%	$321.8M+129.5%	-$1.1B-57.1%	-$693.6M-150.1%	$1.4B	N/A	N/A	N/A	N/A
Dividends Paid	$93.1M	$91.8M+3.6%	$88.6M+4.5%	$84.8M+5.9%	$80.1M+24.3%	$64.5M+42.1%	$45.4M+21.7%	$37.3M+18.5%	$31.4M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$20.6M	$10.5M-15.6%	$12.4M-39.6%	$20.5M-51.6%	$42.4M+124.5%	$18.9M-58.8%	$45.8M+49.2%	$30.7M-55.4%	$68.8M+97.2%	$34.9M+170.7%	$12.9M-74.3%	$50.3M+33.7%	$37.6M+1142.7%	$3.0M+308.2%	$741K+56.7%	$473K

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	$1.2B+590.4%	-$1.1B-306.9%	$803.4M+51.3%	-$948.1M-369.3%	-$238.5M-0.3%	-$281.1M-832.1%	$530.8M+59.9%	-$202.0M-136.8%
Depreciation & Amortization	$60.7M+3.0%	$63.0M+9.3%	$62.1M-8.8%	$60.0M+4.3%	$58.9M+5.2%	$57.6M+3.1%	$68.1M+21.5%	$57.6M+0.1%
Capital Expenditures	$600K-76.6%	$1.9M-48.0%	$7.3M+84.6%	$2.3M+17.4%	$2.6M-33.1%	$3.6M+12.6%	$3.9M+69.6%	$2.0M-55.0%
Free Cash Flow	$1.2B+585.0%	-$1.1B-302.4%	$796.1M+51.1%	-$950.4M-365.9%	-$241.0M+0.3%	-$284.7M-909.5%	$526.9M+59.9%	-$204.0M-137.5%
Investing Cash Flow	-$4.9M+78.3%	-$40.1M-1.8%	-$12.5M-1160.7%	-$2.9M+61.4%	-$22.5M-394.3%	-$39.4M-57.2%	-$992K+95.0%	-$7.5M-120.9%
Financing Cash Flow	-$1.2B-468.5%	$1.1B+383.7%	-$784.4M-67.4%	$996.1M+411.6%	$324.3M+33.3%	$222.0M+278.8%	-$468.6M-111.6%	$194.7M+134.3%
Dividends Paid	$23.6M+2.7%	$23.6M+2.9%	$23.0M+2.8%	$23.0M+4.1%	$22.9M+3.0%	$22.9M+4.4%	$22.4M+4.9%	$22.1M+4.4%
Share Buybacks	$298K-53.8%	$19.1M+122.4%	$183K-50.4%	$1.0M-26.6%	$645K-20.3%	$8.6M-12.3%	$369K-76.7%	$1.4M+62.3%

Not reported in any period shown, so not listed: Stock-Based Compensation.

WD 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.

WD 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
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	37.2%
Net Margin	4.6%-5.0pp	9.6%-0.6pp	10.2%-6.8pp	17.0%-4.1pp	21.1%-1.6pp	22.7%+1.5pp	21.2%-1.0pp	22.3%-7.4pp	29.7%+9.9pp	19.8%+2.3pp	17.5%+3.3pp	14.2%+1.2pp	13.0%-0.1pp	13.2%-9.7pp	22.9%
Return on Equity	3.2%-2.9pp	6.2%0.0pp	6.2%-6.4pp	12.7%-4.5pp	17.1%-3.4pp	20.6%+3.8pp	16.7%-1.2pp	17.9%-8.2pp	26.1%+7.4pp	18.7%+1.8pp	16.8%+5.0pp	11.9%+1.6pp	10.3%+0.7pp	9.6%-11.7pp	21.3%
Return on Assets	1.1%-1.4pp	2.5%-0.2pp	2.6%-2.6pp	5.3%+0.2pp	5.1%-0.2pp	5.3%-1.2pp	6.5%+0.7pp	5.8%-3.8pp	9.6%+5.8pp	3.7%+1.4pp	2.3%-0.2pp	2.6%-1.1pp	3.7%+1.7pp	2.0%-4.7pp	6.7%
Debt-to-Equity	1.91+0.4x	1.50+0.2x	1.340.0x	1.38-1.0x	2.34-0.5x	2.89+1.3x	1.58-0.5x	2.08+0.4x	1.72-2.3x	3.99-2.2x	6.20+3.0x	3.21+1.8x	1.36-1.9x	3.30+1.1x	2.19
Asset Turnover	0.240.0x	0.260.0x	0.26-0.1x	0.31+0.1x	0.240.0x	0.23-0.1x	0.310.0x	0.26-0.1x	0.32+0.1x	0.19+0.1x	0.130.0x	0.18-0.1x	0.28+0.1x	0.15-0.1x	0.29
FCF Margin	-55.1%-65.4pp	10.3%+11.9pp	-1.6%	124.0%	68.4%	-130.5%	51.7%+43.6pp	8.2%	149.3%	131.6%	-286.2%	-195.6%	260.9%	-328.6%	35.6%

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	1.0%-9.7pp	5.3%+4.1pp	-4.1%-17.2pp	9.9%+0.1pp	10.6%+2.3pp	1.2%-4.0pp	13.1%+1.6pp	9.8%+1.9pp
Return on Equity	0.2%-1.8pp	0.9%+0.8pp	-0.8%-3.4pp	1.9%+0.2pp	1.9%+0.6pp	0.2%-0.5pp	2.6%+0.7pp	1.7%+0.4pp
Return on Assets	0.1%-0.7pp	0.3%+0.2pp	-0.3%-1.3pp	0.6%-0.1pp	0.7%+0.2pp	0.1%-0.3pp	1.0%+0.2pp	0.6%+0.1pp
Debt-to-Equity	1.86+0.2x	2.58+1.0x	1.91+0.4x	2.28+0.6x	1.66+0.2x	1.60+0.4x	1.50+0.2x	1.66+0.2x
Asset Turnover	0.060.0x	0.050.0x	0.070.0x	0.060.0x	0.070.0x	0.050.0x	0.080.0x	0.060.0x
FCF Margin	381.1%	-380.3%	234.1%	-281.5%	-75.5%+13.8pp	-120.0%	154.3%	-69.8%

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

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: 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
Walker & Dunlop, Inc. WD	FY2025	$1.2B	$56.2M	4.6%	$1.2B	—
PennyMac Financial Services, Inc. PFSI	FY2025	$2.0B	$501.0M	24.5%	$3.3B	21/100
loanDepot, Inc. LDI	FY2025	$1.2B	-$107.5M	-9.0%	$204.9M	14/100
Guild Holdings Company GHLD	FY2024	$1.0B	$97.1M	9.3%	$1.2B	8/100
UWM Holdings Corporation UWMC	FY2025	$3.2B	$244.0M	7.7%	$445.2M	20/100
Velocity Financial, Inc. VEL	FY2025	$187.9M	$105.0M	55.9%	$577.6M	31/100

Where Walker & Dunlop, Inc. Ranks

Frequently Asked Questions

What is Walker & Dunlop, Inc.'s annual revenue?

Walker & Dunlop, Inc. (WD) reported $1.2B in total revenue for fiscal year 2025. This represents a 9.0% 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 Walker & Dunlop, Inc.'s revenue growing?

Walker & Dunlop, Inc. (WD) revenue grew by 9.0% year-over-year, from $1.1B to $1.2B in fiscal year 2025.

Is Walker & Dunlop, Inc. profitable?

Yes, Walker & Dunlop, Inc. (WD) reported a net income of $56.2M in fiscal year 2025, with a net profit margin of 4.6%.

What is Walker & Dunlop, Inc.'s net profit margin?

Walker & Dunlop, Inc. (WD) had a net profit margin of 4.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Walker & Dunlop, Inc. pay dividends?

Yes, Walker & Dunlop, Inc. (WD) paid $2.68 per share in dividends during fiscal year 2025.

What is Walker & Dunlop, Inc.'s return on equity (ROE)?

Walker & Dunlop, Inc. (WD) has a return on equity of 3.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Walker & Dunlop, Inc.'s free cash flow?

Walker & Dunlop, Inc. (WD) recorded an outflow of $680.1M in free cash flow during fiscal year 2025. This represents a -684.3% 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) recorded an outflow of $664.3M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Walker & Dunlop, Inc.'s total assets?

Walker & Dunlop, Inc. (WD) had $5.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Walker & Dunlop, Inc.'s capital expenditures?

Walker & Dunlop, Inc. (WD) invested $15.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Walker & Dunlop, Inc. buy back shares?

Yes, Walker & Dunlop, Inc. (WD) spent $10.5M on share buybacks during fiscal year 2025, 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 2025.

What is Walker & Dunlop, Inc.'s debt-to-equity ratio?

Walker & Dunlop, Inc. (WD) had a debt-to-equity ratio of 1.91 as of fiscal year 2025, 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 1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Walker & Dunlop, Inc.'s P/E ratio?

Walker & Dunlop, Inc. (WD) trades at 31.4x earnings, its market capitalization divided by net income of $38.4M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Walker & Dunlop, Inc.'s price-to-sales ratio?

Walker & Dunlop, Inc. (WD) trades at 0.9x sales, its market capitalization divided by revenue of $1.3B revenue, trailing 12 months to June 30, 2026. The market capitalization is $1.2B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Walker & Dunlop, Inc.'s Piotroski F-Score?

Walker & Dunlop, Inc. (WD) has a Piotroski F-Score of 1 out of 6 computable signals; 3 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 Walker & Dunlop, Inc.'s earnings high quality?

For every $1 of reported earnings, Walker & Dunlop, Inc. (WD) used $11.81 of operating cash (-$664.3M OCF vs $56.2M 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.