Washington Federal, Inc. (WAFD) Balance Sheet
WAFD balance sheet, FY2026
September 30, 2026 · U.S. dollars$27.23B assets = $24.23B liabilities + $3.00B equity
Both columns are drawn to the same scale: what WAFD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WAFD financial health
Debt / equity0.85
Moderate leverage · $0.85 of debt for each $1 of equity
Cash / debt29.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles1.6%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
WAFD balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.25BFY2017 | $27.23BFY2026 | +6.7%/yr | |
| Total liabilities | $13.25BFY2017 | $24.23BFY2026 | +6.9%/yr | |
| Shareholders’ equity | $2.01BFY2017 | $3.00BFY2026 | +4.6%/yr | |
| Cash & short-term investments | $1.58BFY2017 | $749.7MFY2026 | −7.9%/yr | |
| Total debt | $2.23BFY2017 | $2.55BFY2026 | +1.5%/yr | |
| Net cash (debt) | −$645.7MFY2017 | −$1.80BFY2026 | −$1.2B | |
| Working capital | −$9.35BFY2017 | −$19.70BFY2025 | −$10.4B | |
| Book value per share | $22.48FY2017 | $39.90FY2026 | +6.6%/yr | |
| Debt / equity | 1.11FY2017 | 0.85FY2026 | −0.26 | |
| Shares outstanding | 89.2MFY2017 | 75.2MFY2026 | −1.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WAFD assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
WAFD liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
WAFD debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WAFD balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $749.7M | $3.27B | $4.95B | $2.98B | $2.74B | $4.23B | $3.95B | $1.90B | $1.58B | $1.58B |
| Cash & equivalents | $749.7M | $657.3M | $2.38B | $980.6M | $684.0M | $2.09B | $1.70B | $419.2M | $268.6M | $313.1M |
| Short-term investments | — | $2.62B | $2.57B | $2.00B | $2.05B | $2.14B | $2.25B | $1.49B | $1.31B | $1.27B |
| Receivables | $101.9M | $211.4M | $222.1M | $95.5M | $63.9M | $54.5M | $59.5M | $48.9M | $49.1M | $41.6M |
| Inventory | $0 | $0 | $0 | −$1.09B | $15.29B | −$2.16B | −$1.77B | −$474.8M | −$340.9M | −$1.29B |
| Other current assets | $0 | $0 | $0 | $1.09B | $0 | $2.16B | $1.77B | $474.8M | $340.9M | $1.29B |
| Total current assets | $851.6M | $3.48B | $5.18B | $3.07B | $2.80B | $4.28B | $4.01B | $1.95B | $1.63B | $1.62B |
| Property, plant & equipment (net) | $291.7M | $261.3M | $247.9M | $237.0M | $243.1M | $255.2M | $252.8M | $274.0M | $268.0M | $263.7M |
| Goodwill & intangible assets | $442.0M | $442.1M | $448.4M | $310.6M | $309.0M | $310.0M | $309.9M | $309.2M | $311.3M | $298.7M |
| Long-term investments | $0 | $4.18B | $3.01B | $2.42B | $2.51B | $2.50B | $3.01B | $2.93B | $13.16B | $12.59B |
| Other non-current assets | $25.65B | $18.33B | $19.18B | $16.44B | $14.91B | $12.30B | $11.21B | $11.01B | $492.6M | $478.5M |
| Total assets | $27.23B | $26.70B | $28.06B | $22.47B | $20.77B | $19.65B | $18.79B | $16.47B | $15.87B | $15.25B |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $16.07B | $16.03B | $15.54B | $250.8M | $11.99B | $94.3M | $131.3M |
| Short-term debt | — | $1.75B | $11.8M | $3.65B | $2.03B | $1.33B | $1.84B | $950.0M | $1.68B | $1.40B |
| Total current liabilities | — | $23.18B | $21.37B | $16.35B | $16.32B | $15.76B | $14.03B | $12.13B | $11.48B | $10.97B |
| Long-term debt | $0 | $70.2M | $3.32B | $3.65B | $2.12B | $1.72B | $2.70B | $2.25B | $2.33B | $2.23B |
| Other long-term liabilities | $24.23B | $405.2M | $367.8M | $52.5M | $53.4M | $47.0M | $49.5M | $57.8M | $57.4M | $56.6M |
| Total liabilities | $24.23B | $23.66B | $25.06B | $20.05B | $18.50B | $17.52B | $16.78B | $14.44B | $13.87B | $13.25B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $154.9M | $154.4M | $154.0M | $136.5M | $136.3M | $136.0M | $135.7M | $135.5M | $135.3M | $135.0M |
| Retained earnings (deficit) | $2.27B | $2.11B | $1.98B | $1.87B | $1.69B | $1.53B | $1.42B | $1.34B | $1.19B | $1.04B |
| Treasury stock | — | — | — | — | −$1.59B | −$1.59B | −$1.24B | −$1.13B | −$1.00B | −$838.1M |
| Accumulated other comprehensive income | −$14.8M | $57.0M | $55.9M | $46.9M | $52.5M | $69.8M | $17.0M | $15.3M | $8.3M | $5.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $3.00B | $3.04B | $3.00B | $2.43B | $2.27B | $2.13B | $2.01B | $2.03B | $2.00B | $2.01B |
| Key figures | ||||||||||
| Total debt | $2.55B | $1.82B | $3.32B | $3.65B | $2.12B | $1.72B | $2.70B | $2.25B | $2.33B | $2.23B |
| Net cash (debt) | −$1.80B | $1.46B | $1.64B | −$674.3M | $610.0M | $2.51B | $1.25B | −$345.1M | −$746.4M | −$645.7M |
| Working capital | — | −$19.70B | −$16.20B | −$13.27B | −$13.52B | −$11.47B | −$10.02B | −$10.18B | −$9.85B | −$9.35B |
| Tangible book value | $2.56B | $2.60B | $2.55B | $2.12B | $1.97B | $1.82B | $1.70B | $1.72B | $1.69B | $1.71B |
| Book value per share | $39.90 | $37.87 | $40.39 | $37.18 | $34.77 | $29.30 | $26.25 | $25.26 | $23.46 | $22.48 |
| Shares outstanding | 75.2M | 80.3M | 74.3M | 65.3M | 65.4M | 72.6M | 76.7M | 80.5M | 85.1M | 89.2M |
| Current ratio | — | 0.15 | 0.24 | 0.19 | 0.17 | 0.27 | 0.29 | 0.16 | 0.14 | 0.15 |
| Quick ratio | — | 0.15 | 0.24 | 0.19 | 0.17 | 0.27 | 0.29 | 0.16 | 0.14 | 0.15 |
| Debt / equity | 0.85 | 0.60 | 1.11 | 1.50 | 0.93 | 0.81 | 1.34 | 1.11 | 1.17 | 1.11 |
| Equity / assets | 11.0% | 11.4% | 10.7% | 10.8% | 10.9% | 10.8% | 10.7% | 12.3% | 12.6% | 13.1% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $749.7M | $676.5M | $669.8M | $3.98B | $3.27B | $4.20B | $3.35B | $4.25B | $4.95B | $4.92B | $3.94B | $3.16B |
| Cash & equivalents | $749.7M | $676.5M | $669.8M | $734.9M | $657.3M | $809.3M | $1.23B | $1.51B | $2.38B | $2.49B | $1.51B | $1.14B |
| Short-term investments | — | $4.19B | $4.35B | $3.25B | $2.62B | $3.39B | $2.12B | $2.74B | $2.57B | $2.43B | $2.44B | $2.02B |
| Receivables | $101.9M | $99.1M | $98.9M | $200.0M | $211.4M | $99.2M | $224.5M | $103.1M | $222.1M | $232.5M | $262.3M | $87.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$18.48B | −$22.42B | $16.35B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18.48B | $22.42B | $0 |
| Total current assets | $851.6M | $775.6M | $768.7M | $4.18B | $3.48B | $4.30B | $3.58B | $4.35B | $5.18B | $5.15B | $4.21B | $3.25B |
| Property, plant & equipment (net) | $291.7M | $291.6M | $294.0M | $270.6M | $261.3M | $254.4M | $250.9M | $248.9M | $247.9M | $244.5M | $243.5M | $237.2M |
| Goodwill & intangible assets | $442.0M | $443.7M | $445.5M | $443.1M | $442.1M | $444.3M | $446.7M | $449.2M | $448.4M | $452.3M | $453.5M | $311.1M |
| Long-term investments | $0 | $5.05B | $5.10B | $4.91B | $4.18B | $3.90B | $3.67B | $3.28B | $3.01B | $2.88B | $2.90B | $2.43B |
| Other non-current assets | $25.65B | $21.04B | $20.96B | $17.48B | $18.33B | $17.84B | $19.70B | $19.35B | $19.18B | $19.85B | $22.34B | $16.41B |
| Total assets | $27.23B | $27.60B | $27.57B | $27.29B | $26.70B | $26.73B | $27.64B | $27.68B | $28.06B | $28.58B | $30.14B | $22.64B |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | $306.3M | — | — | — | — | — | — |
| Short-term debt | — | — | — | — | $1.75B | — | — | — | — | $94.4M | $93.7M | — |
| Deferred revenue | $21.32B | $20.93B | $21.12B | $21.42B | — | — | — | — | — | — | — | — |
| Total current liabilities | $21.45B | $110.6M | $21.23B | $21.42B | $23.18B | $339.9M | $21.43B | $21.44B | $21.37B | $21.18B | $21.34B | $16.04B |
| Long-term debt | $0 | $3.32B | $3.11B | $2.49B | $70.2M | $1.99B | $2.81B | $2.91B | $3.32B | $4.08B | $5.49B | $3.88B |
| Other long-term liabilities | $24.23B | $21.26B | $242.7M | $351.0M | $405.2M | $21.30B | $369.7M | $309.4M | $367.8M | $358.3M | $389.1M | $272.9M |
| Total liabilities | $24.23B | $24.57B | $24.59B | $24.26B | $23.66B | $23.72B | $24.61B | $24.66B | $25.06B | $25.62B | $27.22B | $20.19B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $154.9M | $154.9M | $154.8M | $154.6M | $154.4M | $154.4M | $154.4M | $154.2M | $154.0M | $153.9M | $153.8M | $136.7M |
| Retained earnings (deficit) | $2.27B | $2.23B | $2.19B | $2.15B | $2.11B | $2.07B | $2.03B | $2.00B | $1.98B | $1.94B | $1.90B | $1.91B |
| Accumulated other comprehensive income | −$14.8M | $48.1M | $55.1M | $61.9M | $56.9M | $41.5M | $51.4M | $53.4M | $55.9M | $54.9M | $51.9M | $47.0M |
| Total shareholders' equity | $3.00B | $3.02B | $2.98B | $3.03B | $3.04B | $3.01B | $3.03B | $3.02B | $3.00B | $2.96B | $2.92B | $2.45B |
| Key figures | ||||||||||||
| Total debt | $2.55B | $3.32B | $3.11B | $2.49B | $1.82B | $1.98B | $2.81B | $2.91B | $3.32B | $4.08B | $5.49B | $3.88B |
| Net cash (debt) | −$1.80B | −$2.64B | −$2.44B | $1.49B | $1.46B | $2.22B | $536.2M | $1.34B | $1.64B | $841.9M | −$1.55B | −$711.8M |
| Working capital | −$20.60B | $665.0M | −$20.46B | −$17.23B | −$19.70B | $3.96B | −$17.85B | −$17.08B | −$16.20B | −$16.03B | −$17.13B | −$12.79B |
| Tangible book value | $2.56B | $2.58B | $2.54B | $2.59B | $2.60B | $2.57B | $2.59B | $2.57B | $2.55B | $2.51B | $2.47B | $2.14B |
| Book value per share | $40.46 | $40.82 | $39.45 | $39.34 | $38.69 | $37.72 | $37.39 | $37.12 | $36.88 | $36.35 | $41.64 | $38.13 |
| Shares outstanding | 74.2M | 74.0M | 75.6M | 77.0M | 78.6M | 79.9M | 81.1M | 81.4M | 81.4M | 81.4M | 70.2M | 64.3M |
| Current ratio | 0.04 | 7.01 | 0.04 | 0.20 | 0.15 | 12.64 | 0.17 | 0.20 | 0.24 | 0.24 | 0.20 | 0.20 |
| Quick ratio | 0.04 | 7.01 | 0.04 | 0.20 | 0.15 | 12.64 | 0.17 | 0.20 | 0.24 | 0.24 | 0.20 | 0.20 |
| Debt / equity | 0.85 | 1.10 | 1.04 | 0.82 | 0.60 | 0.66 | 0.93 | 0.96 | 1.11 | 1.38 | 1.88 | 1.58 |
| Equity / assets | 11.0% | 11.0% | 10.8% | 11.1% | 11.4% | 11.3% | 11.0% | 10.9% | 10.7% | 10.4% | 9.7% | 10.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed October 16, 2026); data from EODHD.
WAFD financial position
At the end of fiscal 2026 (September 30, 2026), Washington Federal had total assets of $27.2 billion (up 2.0% from a year earlier), total liabilities of $24.2 billion and shareholders' equity of $3.0 billion. It held $749.7 million in cash and short-term investments against $2.5 billion of debt, net debt of $1.8 billion.
Related: WAFD income statement, WAFD cash flow statement, WAFD key metrics. See the WAFD stock overview for the latest quote and news.
WAFD balance sheet FAQ
What are Washington Federal's total assets?
Washington Federal reported total assets of $27.2 billion at the end of fiscal 2026 (September 30, 2026), compared with $26.7 billion a year earlier.
How much debt does Washington Federal have?
Washington Federal had $2.5 billion of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.85.
How much cash does Washington Federal have?
Washington Federal held $749.7 million in cash and short-term investments at the end of fiscal 2026; with $2.5 billion of debt that is net debt of $1.8 billion.
What is Washington Federal's book value?
Washington Federal's shareholders' equity (book value) was $3.0 billion at the end of fiscal 2026, or $39.90 per share.
How much goodwill does Washington Federal have?
Washington Federal carried $442.0 million of goodwill and intangible assets, 1.6% of total assets, at the end of fiscal 2026.