Washington Federal, Inc. (WAFD) Key Metrics
WAFD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.16B
- Enterprise value
- $4.25B
- P/E (TTM)
- 9.2 10-yr median 11.8
- Forward P/E
- 13.6
- PEG ratio
- 1.85
- Price / sales
- 2.8 10-yr median 2.5
- Price / book
- 0.8 10-yr median 0.9
- EV / EBITDA
- — 10-yr median 7.2
- Dividend yield
- 3.70% $1.08 a year
- Beta
- 0.88
WAFD key metrics, FY2017–FY2026
Fiscal year ended September 30, 2026 · U.S. dollarsWAFD valuation Price multiples at each fiscal year-end price.
P/E ratio−18.2%
8.8
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / sales−7.9%
1.6
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / book−6.2%
0.8
FY2026 · hover or tap a bar for each year
FY2017FY2026
EV / EBITDA+279.1%
12.4
FY2026 · hover or tap a bar for each year
FY2017FY2026
WAFD returns How much profit the business earns on the capital it uses.
Return on equity+1.0 pts
8.5%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on invested capital−7.3 pts
8.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on assets+0.1 pts
0.9%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Asset turnover+2.0%
0.05
FY2026 · hover or tap a bar for each year
FY2017FY2026
WAFD per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+7.2%
$18.84
FY2026 · hover or tap a bar for each year
FY2017FY2026
Earnings per share+20.8%
$3.40
FY2026 · hover or tap a bar for each year
FY2017FY2026
Book value per share+5.4%
$39.90
FY2026 · hover or tap a bar for each year
FY2017FY2026
Shares outstanding−6.3%
75.2M
FY2026 · hover or tap a bar for each year
FY2017FY2026
WAFD financial health Debt, liquidity and how easily interest is covered.
Debt / equity+41.9%
0.85
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt+$3.3B
$1.80B
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt / EBITDA+10.35
5.48
FY2026 · hover or tap a bar for each year
FY2017FY2026
Interest coverage+28.4%
0.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
Debt / assets+37.4%
0.09
FY2026 · hover or tap a bar for each year
FY2017FY2026
WAFD efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−16 days
40 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
WAFD valuation history
Fiscal year-endToday10-year median
WAFD returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WAFD debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WAFD cash returned to shareholders
DividendsBuybacksFree cash flow
WAFD price vs earnings per share
Share price at year-endEPS (right axis)
WAFD key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.25B | $2.43B | $2.59B | $1.67B | $1.96B | $2.49B | $1.60B | $2.98B | $2.72B | $3.00B |
| Enterprise value | $4.05B | $975.7M | $953.5M | $2.35B | $1.35B | −$19.3M | $348.1M | $3.32B | $3.47B | $3.65B |
| P/E ratio | 8.8 | 10.8 | 12.9 | 6.5 | 8.3 | 13.6 | 9.2 | 14.2 | 13.4 | 17.3 |
| Price / sales | 1.6 | 1.7 | 1.8 | 2.3 | 2.7 | 3.8 | 2.3 | 4.1 | 4.2 | 5.0 |
| Price / book | 0.8 | 0.8 | 0.9 | 0.7 | 0.9 | 1.2 | 0.8 | 1.5 | 1.4 | 1.5 |
| Price / free cash flow | — | 11.7 | 6.2 | 8.4 | 7.6 | 8.7 | 11.9 | 15.0 | 16.6 | 18.3 |
| Price / operating cash flow | — | 10.3 | 5.9 | 7.8 | 7.3 | 7.9 | 9.6 | 12.7 | 14.3 | 16.7 |
| EV / sales | 2.9 | 0.7 | 0.7 | 3.2 | 1.8 | -0.0 | 0.5 | 4.5 | 5.3 | 6.1 |
| EV / EBITDA | 12.4 | 3.3 | 2.4 | 7.2 | 3.7 | — | 1.3 | 11.3 | 11.4 | 12.2 |
| EV / free cash flow | — | 4.7 | 2.3 | 11.8 | 5.3 | — | 2.6 | 16.7 | 21.2 | 22.2 |
| Earnings yield | 11.4% | 9.3% | 7.7% | 15.4% | 12.1% | 7.4% | 10.8% | 7.1% | 7.5% | 5.8% |
| Free cash flow yield | — | 8.6% | 16.0% | 11.9% | 13.1% | 11.4% | 8.4% | 6.7% | 6.0% | 5.5% |
| Dividend yield | — | 4.1% | 3.4% | 4.7% | 3.9% | 2.9% | 4.2% | 2.1% | 2.1% | 2.5% |
| Shareholder yield (dividends + buybacks) | — | 8.3% | 4.5% | 6.5% | 4.1% | 16.9% | 11.2% | 6.3% | 8.1% | 5.8% |
| Share price at fiscal year-end | $29.93 | $30.29 | $34.85 | $25.62 | $29.98 | $34.31 | $20.86 | $36.99 | $32.00 | $33.65 |
| Per share | ||||||||||
| Revenue per share | $18.84 | $17.57 | $19.29 | $11.38 | $11.21 | $8.99 | $9.23 | $9.13 | $7.65 | $6.75 |
| Earnings per share | $3.40 | $2.82 | $2.69 | $3.94 | $3.61 | $2.53 | $2.26 | $2.61 | $2.40 | $1.94 |
| Operating cash flow per share | — | $2.95 | $5.91 | $3.28 | $4.10 | $4.33 | $2.17 | $2.91 | $2.24 | $2.01 |
| Free cash flow per share | — | $2.59 | $5.58 | $3.05 | $3.92 | $3.93 | $1.76 | $2.47 | $1.92 | $1.84 |
| Cash per share | $9.97 | $40.78 | $66.68 | $45.60 | $41.82 | $58.28 | $51.51 | $23.66 | $18.61 | $17.70 |
| Book value per share | $39.90 | $37.87 | $40.39 | $37.18 | $34.77 | $29.30 | $26.25 | $25.26 | $23.46 | $22.48 |
| Tangible book value per share | $34.02 | $32.37 | $34.35 | $32.42 | $30.05 | $25.03 | $22.21 | $21.41 | $19.81 | $19.13 |
| Dividends per share | — | $1.24 | $1.20 | $1.20 | $1.17 | $1.00 | $0.87 | $0.79 | $0.66 | $0.84 |
| Capex per share | — | $0.36 | $0.33 | $0.23 | $0.18 | $0.41 | $0.42 | $0.44 | $0.32 | $0.17 |
| Debt per share | $33.86 | $22.64 | $44.67 | $55.93 | $32.49 | $23.70 | $35.19 | $27.95 | $27.38 | $24.94 |
| Shares outstanding | 75.2M | 80.3M | 74.3M | 65.3M | 65.4M | 72.6M | 76.7M | 80.5M | 85.1M | 89.2M |
| Change in shares outstanding | −6.3% | +8.0% | +13.8% | −0.2% | −9.9% | −5.4% | −4.7% | −5.4% | −4.6% | −2.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.5% | 7.5% | 7.4% | 11.0% | 10.7% | 8.9% | 8.6% | 10.4% | 10.2% | 8.7% |
| Return on invested capital (ROIC) | 8.0% | 15.3% | 9.0% | 10.8% | 36.9% | — | 11.0% | 8.2% | 7.6% | 8.0% |
| Return on assets (ROA) | 0.9% | 0.8% | 0.8% | 1.2% | 1.2% | 1.0% | 1.0% | 1.3% | 1.3% | 1.2% |
| Return on tangible assets | 1.0% | 0.9% | 0.7% | 1.2% | 1.2% | 0.9% | 0.9% | 1.3% | 1.3% | 1.2% |
| Free cash flow margin | — | 14.8% | 28.9% | 26.8% | 35.0% | 43.7% | 19.0% | 27.0% | 25.1% | 27.3% |
| Income quality (OCF / net income) | — | 1.05 | 2.20 | 0.83 | 1.14 | 1.71 | 0.96 | 1.11 | 0.94 | 1.04 |
| Financial health | ||||||||||
| Total debt | $2.55B | $1.82B | $3.32B | $3.65B | $2.12B | $1.72B | $2.70B | $2.25B | $2.33B | $2.23B |
| Cash & short-term investments | $749.7M | $3.27B | $4.95B | $2.98B | $2.74B | $4.23B | $3.95B | $1.90B | $1.58B | $1.58B |
| Net debt | $1.80B | −$1.46B | −$1.64B | $674.3M | −$610.0M | −$2.51B | −$1.25B | $345.1M | $746.4M | $645.7M |
| Debt / equity | 0.85 | 0.60 | 1.11 | 1.50 | 0.93 | 0.81 | 1.34 | 1.11 | 1.17 | 1.11 |
| Debt / assets | 0.09 | 0.07 | 0.12 | 0.16 | 0.10 | 0.09 | 0.14 | 0.14 | 0.15 | 0.15 |
| Net debt / EBITDA | 5.48 | −4.86 | −4.19 | 2.07 | −1.68 | −9.40 | −4.83 | 1.17 | 2.46 | 2.17 |
| 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 | 0.25 | −0.77 | 0.41 | 0.41 | 0.20 | 0.17 | 0.27 |
| Interest coverage | 0.5 | 0.4 | 0.4 | 0.9 | 4.2 | 2.7 | 1.4 | 1.4 | 1.9 | 2.2 |
| Working capital | — | −$19.70B | −$16.20B | −$13.27B | −$13.52B | −$11.47B | −$10.02B | −$10.18B | −$9.85B | −$9.35B |
| Invested capital | $4.80B | $1.58B | $1.36B | $3.10B | $1.66B | −$383.0M | $761.7M | $2.38B | $2.74B | $2.65B |
| Tangible asset value | $2.56B | $2.60B | $2.55B | $2.12B | $1.97B | $1.82B | $1.70B | $1.72B | $1.69B | $1.71B |
| Net current asset value | −$23.38B | −$20.18B | −$19.88B | −$16.98B | −$15.70B | −$13.24B | −$12.77B | −$12.49B | −$12.24B | −$11.63B |
| Graham number | $55.27 | $48.99 | $49.46 | $57.45 | $53.17 | $40.84 | $36.54 | $38.53 | $35.56 | $31.36 |
| Graham net-net per share | −$311.23 | −$252.06 | −$268.40 | −$268.85 | −$123.37 | −$197.54 | −$178.11 | −$158.24 | −$145.91 | −$137.64 |
| Capital allocation | ||||||||||
| Dividends paid | — | $99.3M | $88.9M | $78.4M | $76.2M | $72.3M | $66.5M | $63.3M | $56.0M | $74.5M |
| Share buybacks (net) | — | $101.9M | $27.1M | $30.5M | $3.3M | $348.7M | $112.1M | $123.9M | $164.2M | $98.4M |
| Dividend payout ratio | — | 43.9% | 44.4% | 30.5% | 32.2% | 39.4% | 38.3% | 30.1% | 27.5% | 42.9% |
| Dividends + buybacks / free cash flow | — | 96.6% | 28.0% | 54.7% | 31.0% | 147.7% | 132.6% | 94.3% | 134.6% | 105.3% |
| Capex / revenue | — | 2.0% | 1.7% | 2.0% | 1.6% | 4.5% | 4.5% | 4.8% | 4.2% | 2.6% |
| Capex / operating cash flow | — | 12.1% | 5.6% | 7.0% | 4.4% | 9.4% | 19.2% | 15.2% | 14.2% | 8.6% |
| Capex / depreciation | — | 2.95 | 0.18 | 0.66 | 0.18 | 0.87 | 0.80 | 1.14 | 0.58 | 0.37 |
| Stock-based compensation / revenue | — | 0.6% | 0.6% | 1.1% | 0.9% | 1.0% | 0.9% | 0.7% | 0.7% | 1.0% |
| SG&A / revenue | 19.5% | 23.2% | 18.4% | 29.2% | 27.7% | 29.2% | 22.4% | 19.5% | 20.8% | 20.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 40.4 | 56.1 | 40.5 | 39.2 | 29.5 | 31.9 | 27.9 | 24.3 | 25.4 | 28.9 |
| Days of inventory on hand | — | — | — | 6,576.9 | 32,054.2 | -8,238.5 | -2,358.8 | -788.6 | -2,292.9 | -4,918.5 |
| Days payables outstanding | — | — | — | 14,860.3 | 77,060.7 | 33,128.5 | 12,876.1 | 11,684.5 | 317.8 | 508.0 |
| Cash conversion cycle (days) | — | — | — | -8,244.3 | -44,977.1 | -41,335.2 | -15,206.9 | -12,448.8 | -2,585.3 | -5,397.7 |
| Receivables turnover | 9.05 | 6.51 | 9.02 | 9.32 | 12.39 | 11.45 | 13.07 | 15.00 | 14.35 | 12.64 |
| Payables turnover | — | — | — | 0.02 | 0.00 | 0.01 | 0.03 | 0.03 | 1.15 | 0.72 |
| Inventory turnover | — | — | — | — | 0.01 | — | — | — | — | — |
| Asset turnover | 0.05 | 0.05 | 0.06 | 0.03 | 0.04 | 0.03 | 0.04 | 0.05 | 0.04 | 0.04 |
| Average receivables | $156.6M | $216.7M | $158.8M | $79.7M | $59.2M | $57.0M | $54.2M | $49.0M | $45.4M | $47.7M |
| Average payables | — | — | — | $16.05B | $15.79B | $7.90B | $6.12B | $6.04B | $112.8M | $159.9M |
| Average inventory | — | — | — | $7.10B | $6.57B | −$1.96B | −$1.12B | −$407.8M | −$813.5M | −$1.55B |
| Intangibles / total assets | 1.6% | 1.7% | 1.6% | 1.4% | 1.5% | 1.6% | 1.6% | 1.9% | 2.0% | 2.0% |
Computed from WAFD's annual financial statements (latest annual report filed October 16, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
WAFD valuation and financial ratios
At the end of fiscal 2026 (September 30, 2026), Washington Federal traded at 8.8 times earnings, against a 10-year median of 11.8. Based on the latest twelve months, the trailing P/E is 9.2 and the forward P/E is 13.6. Washington Federal earned a return on equity of 8.5% and a return on invested capital of 8.0% in fiscal 2026. It ended the year with $2.5 billion of debt and $749.7 million in cash and short-term investments, net debt of $1.8 billion. The share count fell 15.7% from 89.2M to 75.2M over 9 years.
See the WAFD income statement, the WAFD chart for price history, or the WAFD stock overview for the latest quote and news.
WAFD key metrics FAQ
What is Washington Federal's P/E ratio?
Washington Federal's trailing P/E ratio is 9.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.6. At the end of fiscal 2026 it was 8.8, compared with a 10-year median of 11.8.
What is Washington Federal's EV/EBITDA?
Washington Federal's enterprise value was 12.4 times EBITDA at the end of fiscal 2026 (enterprise value $4.0 billion, EBITDA $327.5 million).
What is Washington Federal's return on equity?
Washington Federal's return on equity (ROE) was 8.5% in fiscal 2026: net income of $255.9 million on average shareholders' equity of $3.0 billion.
What is Washington Federal's ROIC?
Washington Federal's return on invested capital was 8.0% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Washington Federal have?
Washington Federal had total debt of $2.5 billion at the end of fiscal 2026, a debt-to-equity ratio of 0.85 and $1.8 billion of net debt (5.48 times EBITDA).