WD

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Walker & Dunlop, Inc

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Key Metrics

Previous Close: $40.88
52-Week Range: $39.45 – $90.00
Market Cap: $1.38B
P/E (TTM): 37.20
EPS (TTM): 1.08
Dividend Yield: 6.54%

Advanced Metrics

Price/Book: 0.78
PEG Ratio: 1.09
Return on Equity: 2.36%
Return on Assets: 0.86%
Gross Margin: 100.00%
Operating Margin: 0.77%
Profit Margin: 3.28%
Current Ratio: 1.57
Debt/Equity: 1.36
Total Debt: $2.35B
Free Cash Flow: —
Revenue Growth: -10.00%
Earnings Growth: -90.90%
Enterprise Value: $3.55B

WD Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.26B	$1.05B	$1.13B	$1.23B
Cost of Revenue	$641.60M	$582.77M	$628.93M	$712.52M
Gross Profit	$617.15M	$471.67M	$503.56M	$521.78M
Selling, General & Admin	$108.99M	$97.25M	$106.97M	$107.17M
Operating Expenses	$365.70M	$334.58M	$388.20M	$414.28M
Operating Income	$251.45M	$137.09M	$115.36M	$107.50M
EBITDA	$486.48M	$363.84M	$352.91M	$346.18M
Pretax Income	$264.96M	$138.20M	$131.50M	$79.00M
Income Tax	$56.03M	$35.03M	$30.54M	$22.01M
Net Income	$213.82M	$107.36M	$108.17M	$57.08M
Diluted EPS	6.36	3.18	3.19	1.64
Diluted Shares	32.69M	32.88M	33.16M	33.37M

WD Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$225.95M	$328.70M	$279.27M	$299.31M
Receivables	$798.84M	$868.62M	$1.15B	$1.93B
Current Assets	$1.30B	$1.49B	$1.74B	$2.55B
Total Assets	$4.05B	$4.05B	$4.38B	$5.06B
Current Liabilities	$200.35M	$113.55M	$125.56M	$128.22M
Long-Term Debt	$1.24B	$1.37B	$1.55B	$2.25B
Total Debt	$1.32B	$1.47B	$1.75B	$2.47B
Total Liabilities	$2.33B	$2.31B	$2.62B	$3.31B
Retained Earnings	$1.28B	$1.30B	$1.32B	$1.28B
Shareholders' Equity	$1.69B	$1.72B	$1.75B	$1.73B
Working Capital	$1.10B	$1.38B	$1.61B	$2.42B
Net Debt	$1.02B	$1.04B	$1.37B	$2.07B

WD Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$1.58B	-$518.00K	$129.36M	-$664.31M
Capital Expenditure	-$22.00M	-$16.20M	-$12.96M	-$15.77M
Free Cash Flow	$1.56B	-$16.72M	$116.40M	-$680.08M
Depreciation & Amortisation	$235.03M	$226.75M	$237.55M	$238.68M
Stock-Based Compensation	$33.99M	$27.84M	$27.33M	$26.75M
Investing Cash Flow	-$133.78M	$126.87M	-$38.13M	-$77.34M
Financing Cash Flow	-$1.58B	$6.77M	-$154.73M	$758.13M
Dividends Paid	-$80.14M	-$84.84M	-$88.63M	-$91.80M
Share Repurchases	-$42.37M	-$20.51M	-$12.38M	-$10.45M
Net Change in Cash	-$134.90M	$133.12M	-$63.51M	$16.48M

WD Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$237.37M	$319.24M	$337.68M	$340.02M	$301.33M
Cost of Revenue	$136.90M	$178.66M	$193.87M	$203.10M	$167.73M
Gross Profit	$100.46M	$140.59M	$143.81M	$136.93M	$133.60M
Operating Expenses	$95.22M	$94.21M	$97.87M	$126.98M	$107.65M
Operating Income	$5.24M	$46.37M	$45.94M	$9.95M	$25.95M
EBITDA	$62.87M	$105.31M	$105.98M	$72.03M	$88.91M
Pretax Income	$5.24M	$46.37M	$45.94M	-$18.56M	$25.95M
Income Tax	$2.52M	$12.43M	$12.52M	-$5.45M	$8.02M
Net Income	$2.75M	$33.95M	$33.45M	-$13.07M	$16.95M
Diluted EPS	0.08	0.99	0.98	-0.41	0.46
Diluted Shares	33.30M	33.37M	33.40M	33.41M	33.41M

WD Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$180.97M	$233.71M	$274.83M	$299.31M	$192.53M
Receivables	$1.32B	$1.54B	$2.57B	$1.93B	$2.97B
Current Assets	$1.75B	$2.03B	$3.11B	$2.55B	$3.43B
Total Assets	$4.51B	$4.68B	$5.80B	$5.06B	$6.17B
Current Liabilities	—	—	—	$128.22M	—
Long-Term Debt	$1.76B	$1.99B	$3.01B	$2.25B	$3.36B
Total Debt	$1.76B	$1.99B	$3.01B	$2.47B	$3.36B
Total Liabilities	$2.77B	$2.91B	$4.02B	$3.31B	$4.43B
Retained Earnings	$1.30B	$1.31B	$1.32B	$1.28B	$1.27B
Shareholders' Equity	$1.73B	$1.75B	$1.77B	$1.73B	$1.72B
Working Capital	—	—	—	$2.42B	—
Net Debt	$1.58B	$1.75B	$2.73B	$2.07B	$3.17B

WD Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$281.11M	-$238.45M	-$948.12M	$803.37M	-$1.14B
Capital Expenditure	-$3.63M	-$2.57M	-$2.31M	-$7.26M	-$1.89M
Free Cash Flow	-$284.74M	-$241.02M	-$950.43M	$796.10M	-$1.15B
Depreciation & Amortisation	$57.62M	$58.94M	$60.04M	$62.08M	$62.96M
Investing Cash Flow	-$39.38M	-$22.54M	-$2.91M	-$12.51M	-$40.08M
Financing Cash Flow	$222.03M	$324.33M	$996.13M	-$784.35M	$1.07B
Dividends Paid	-$22.93M	-$22.92M	-$22.97M	-$22.97M	-$23.61M
Share Repurchases	-$8.59M	-$645.00K	-$1.04M	-$183.00K	-$19.10M
Net Change in Cash	-$98.46M	$63.33M	$45.10M	$6.51M	-$109.95M

Market Snapshot

About

Walker & Dunlop, Inc. is one of the largest commercial real estate finance companies in the United States, specializing in multifamily and commercial property lending. The company originates, sells, and services loans for apartment buildings, affordable housing, and other commercial properties. Walker & Dunlop is a leading Fannie Mae and Freddie Mac lender and also provides investment sales brokerage services.