Washington Trust Bancorp, Inc. (WASH) Key Metrics
WASH valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $706.9M
- Enterprise value
- $1.09B
- P/E (TTM)
- 12.9 10-yr median 12.1
- Forward P/E
- 11.3
- PEG ratio
- 2.76
- Price / sales
- 3.2 10-yr median 3.3
- Price / book
- 1.3 10-yr median 1.8
- EV / EBITDA
- — 10-yr median 11.1
- Dividend yield
- 6.04% $2.24 a year
- Beta
- 0.72
WASH key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWASH valuation Price multiples at each fiscal year-end price.
WASH returns How much profit the business earns on the capital it uses.
WASH per-share figures Results divided by the shares outstanding at year-end.
WASH financial health Debt, liquidity and how easily interest is covered.
WASH efficiency & capital use Working capital cycle and where the cash goes.
WASH valuation history
WASH returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WASH debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WASH cash returned to shareholders
WASH price vs earnings per share
WASH key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $569.8M | $537.6M | $552.5M | $820.0M | $983.9M | $779.6M | $936.7M | $826.6M | $923.2M | $964.5M |
| Enterprise value | $1.25B | $1.54B | $706.6M | $739.9M | −$40.7M | $331.0M | $1.09B | $778.7M | $873.4M | $988.4M |
| P/E ratio | 10.9 | — | 11.5 | 11.4 | 12.8 | 11.2 | 13.6 | 12.1 | 20.1 | 20.8 |
| Price / sales | 1.5 | 1.7 | 1.5 | 3.2 | 4.0 | 2.9 | 3.5 | 3.5 | 4.3 | 4.9 |
| Price / book | 1.0 | 1.1 | 1.2 | 1.8 | 1.7 | 1.5 | 1.9 | 1.8 | 2.2 | 2.5 |
| Price / free cash flow | 11.3 | 10.0 | 20.8 | 7.7 | 10.1 | 23.6 | 13.3 | 10.5 | 16.3 | 17.0 |
| Price / operating cash flow | 10.8 | 9.3 | 17.5 | 7.3 | 9.8 | 21.4 | 12.8 | 10.0 | 15.5 | 16.1 |
| EV / sales | 3.3 | 4.9 | 1.9 | 2.9 | -0.2 | 1.2 | 4.1 | 3.3 | 4.1 | 5.0 |
| EV / EBITDA | 17.5 | — | 11.5 | 7.7 | — | 3.5 | 11.8 | 8.6 | 10.6 | 13.4 |
| EV / free cash flow | 24.8 | 28.6 | 26.6 | 6.9 | — | 10.0 | 15.5 | 9.9 | 15.4 | 17.5 |
| Earnings yield | 9.2% | −5.2% | 8.7% | 8.7% | 7.8% | 9.0% | 7.4% | 8.3% | 5.0% | 4.8% |
| Free cash flow yield | 8.9% | 10.0% | 4.8% | 13.0% | 9.9% | 4.2% | 7.5% | 9.5% | 6.1% | 5.9% |
| Dividend yield | 7.6% | 7.1% | 7.0% | 4.6% | 3.7% | 4.6% | 3.6% | 3.5% | 2.8% | 2.6% |
| Shareholder yield (dividends + buybacks) | 8.9% | 7.1% | 8.6% | 5.7% | 3.7% | 5.1% | 3.6% | 3.6% | 2.8% | 2.6% |
| Share price at fiscal year-end | $29.55 | $31.35 | $32.38 | $47.18 | $56.37 | $44.80 | $53.79 | $47.53 | $53.25 | $56.05 |
| Per share | ||||||||||
| Revenue per share | $19.76 | $18.12 | $21.38 | $14.79 | $14.06 | $15.48 | $15.20 | $13.72 | $12.37 | $11.54 |
| Earnings per share | $2.71 | −$1.64 | $2.82 | $4.12 | $4.40 | $4.01 | $3.97 | $3.93 | $2.65 | $2.70 |
| Operating cash flow per share | $2.73 | $3.36 | $1.85 | $6.50 | $5.78 | $2.10 | $4.22 | $4.77 | $3.43 | $3.47 |
| Free cash flow per share | $2.62 | $3.13 | $1.56 | $6.15 | $5.58 | $1.90 | $4.04 | $4.54 | $3.26 | $3.29 |
| Cash per share | $2.20 | $10.36 | $63.92 | $64.00 | $69.97 | $63.03 | $59.60 | $58.72 | $49.83 | $49.26 |
| Book value per share | $28.19 | $29.14 | $27.70 | $26.10 | $32.36 | $30.70 | $28.91 | $25.77 | $23.84 | $22.71 |
| Tangible book value per share | $24.65 | $25.25 | $23.74 | $22.16 | $28.39 | $26.66 | $24.83 | $21.63 | $19.62 | $18.40 |
| Dividends per share | $2.25 | $2.24 | $2.26 | $2.17 | $2.08 | $2.04 | $1.96 | $1.69 | $1.52 | $1.43 |
| Capex per share | $0.10 | $0.23 | $0.30 | $0.35 | $0.20 | $0.20 | $0.18 | $0.23 | $0.16 | $0.18 |
| Debt per share | $37.66 | $68.65 | $72.95 | $59.39 | $11.27 | $37.25 | $68.51 | $55.97 | $46.95 | $50.65 |
| Shares outstanding | 19.3M | 17.1M | 17.1M | 17.4M | 17.5M | 17.4M | 17.4M | 17.4M | 17.3M | 17.2M |
| Change in shares outstanding | +12.4% | +0.5% | −1.8% | −0.4% | +0.3% | −0.1% | +0.1% | +0.3% | +0.8% | +0.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 10.0% | −5.8% | 10.4% | 14.1% | 14.0% | 13.5% | 14.5% | 15.9% | 11.4% | 12.1% |
| Return on invested capital (ROIC) | 3.8% | −2.9% | 9.6% | — | — | 18.8% | 13.1% | 17.9% | 11.8% | 12.4% |
| Return on assets (ROA) | 0.8% | −0.4% | 0.7% | 1.1% | 1.3% | 1.3% | 1.3% | 1.4% | 1.0% | 1.1% |
| Return on tangible assets | 0.8% | −0.4% | 0.7% | 1.1% | 1.3% | 1.2% | 1.3% | 1.4% | 1.0% | 1.1% |
| Free cash flow margin | 13.3% | 17.3% | 7.3% | 41.6% | 39.7% | 12.3% | 26.6% | 33.1% | 26.4% | 28.5% |
| Income quality (OCF / net income) | 1.01 | — | 0.66 | 1.58 | 1.31 | 0.52 | 1.06 | 1.21 | 1.29 | 1.29 |
| Financial health | ||||||||||
| Total debt | $726.1M | $1.18B | $1.24B | $1.03B | $196.7M | $648.3M | $1.19B | $973.4M | $814.0M | $871.6M |
| Cash & short-term investments | $42.4M | $177.6M | $1.09B | $1.11B | $1.22B | $1.10B | $1.04B | $1.02B | $863.9M | $847.7M |
| Net debt | $683.8M | $999.7M | $154.1M | −$80.1M | −$1.02B | −$448.6M | $155.1M | −$47.9M | −$49.8M | $23.9M |
| Debt / equity | 1.34 | 2.36 | 2.63 | 2.28 | 0.35 | 1.21 | 2.37 | 2.17 | 1.97 | 2.23 |
| Debt / assets | 0.11 | 0.17 | 0.17 | 0.15 | 0.03 | 0.11 | 0.23 | 0.19 | 0.18 | 0.20 |
| Net debt / EBITDA | 9.55 | — | 2.51 | −0.84 | −10.00 | −4.81 | 1.68 | −0.53 | −0.61 | 0.32 |
| Current ratio | 0.01 | 0.03 | 0.20 | 0.22 | 0.25 | 0.25 | 0.30 | 0.29 | 0.27 | 0.28 |
| Quick ratio | 0.01 | 0.03 | 0.20 | 0.22 | 0.25 | 0.25 | 0.30 | 0.29 | 0.27 | 0.28 |
| Interest coverage | 0.4 | -0.2 | 0.3 | 2.4 | 5.9 | 2.1 | 1.4 | 2.0 | 2.6 | 3.0 |
| Working capital | −$3.21B | −$4.94B | −$4.26B | −$3.91B | −$3.76B | −$3.28B | −$2.46B | −$2.50B | −$2.38B | −$2.22B |
| Invested capital | $1.23B | $1.50B | $626.8M | $373.6M | −$459.9M | $85.6M | $658.6M | $400.3M | $363.4M | $414.7M |
| Tangible asset value | $475.4M | $432.9M | $405.1M | $385.2M | $495.5M | $464.0M | $432.4M | $376.1M | $340.2M | $316.6M |
| Net current asset value | −$6.04B | −$6.25B | −$5.64B | −$5.09B | −$4.06B | −$4.08B | −$3.75B | −$3.54B | −$3.25B | −$3.14B |
| Graham number | $41.46 | — | $41.95 | $49.21 | $56.62 | $52.65 | $50.81 | $47.77 | $37.69 | $37.15 |
| Graham net-net per share | −$313.04 | −$364.65 | −$330.54 | −$292.86 | −$232.60 | −$234.37 | −$215.19 | −$203.36 | −$187.35 | −$182.59 |
| Capital allocation | ||||||||||
| Dividends paid | $43.3M | $38.4M | $38.6M | $37.6M | $36.3M | $35.5M | $34.2M | $29.3M | $26.3M | $24.6M |
| Share buybacks (net) | $7.4M | $0 | $8.8M | $9.5M | $177,000 | $4.3M | $0 | $671,000 | $0 | $0 |
| Dividend payout ratio | 82.9% | — | 80.2% | 52.5% | 47.3% | 50.8% | 49.5% | 42.8% | 57.3% | 53.0% |
| Dividends + buybacks / free cash flow | 100.3% | 71.5% | 178.7% | 44.1% | 37.5% | 120.4% | 48.6% | 38.0% | 46.5% | 43.5% |
| Capex / revenue | 0.5% | 1.3% | 1.4% | 2.4% | 1.4% | 1.3% | 1.2% | 1.7% | 1.3% | 1.6% |
| Capex / operating cash flow | 3.8% | 6.9% | 16.0% | 5.4% | 3.5% | 9.3% | 4.3% | 4.8% | 4.7% | 5.2% |
| Capex / depreciation | 0.48 | 0.84 | 1.04 | 1.42 | 0.81 | 0.83 | 0.74 | 0.93 | 0.62 | 0.63 |
| Stock-based compensation / revenue | 0.8% | 0.8% | 0.6% | 1.3% | 1.4% | 1.4% | 1.2% | 1.1% | 1.2% | 1.1% |
| SG&A / revenue | 1.5% | 30.4% | 24.6% | 34.3% | 37.0% | 32.0% | 28.3% | 30.3% | 33.4% | 35.8% |
| Efficiency | ||||||||||
| Days sales outstanding | — | — | — | 8.3 | 8.5 | 6.3 | 6.4 | 8.0 | 9.7 | — |
| Days of inventory on hand | — | — | — | — | — | — | 9.0 | 9.1 | 6.7 | 11.4 |
| Days payables outstanding | — | — | — | 49,087.3 | 145,502.5 | 26,217.2 | 19,471.4 | 27,042.1 | 35,245.1 | 38,217.9 |
| Cash conversion cycle (days) | — | — | — | -49,079.0 | -145,494.1 | -26,210.9 | -19,456.0 | -27,025.0 | -35,228.7 | — |
| Receivables turnover | — | — | — | 43.94 | 43.05 | 57.93 | 56.93 | 45.43 | 37.61 | — |
| Payables turnover | — | — | — | 0.01 | 0.00 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Inventory turnover | — | — | — | — | — | — | 40.49 | 40.18 | 54.15 | 31.98 |
| Asset turnover | 0.06 | 0.04 | 0.05 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Average receivables | — | — | — | $5.8M | $5.7M | $4.7M | $4.7M | $5.2M | $5.7M | — |
| Average payables | — | — | — | $5.00B | $4.68B | $3.94B | $3.51B | $3.38B | $3.15B | $3.00B |
| Average inventory | — | — | — | — | — | — | $1.6M | $1.1M | $603,000 | $895,500 |
| Intangibles / total assets | 1.0% | 1.0% | 0.9% | 1.0% | 1.2% | 1.2% | 1.3% | 1.4% | 1.6% | 1.7% |
Computed from WASH's annual financial statements (latest annual report filed February 24, 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.
WASH valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Washington Trust Bancorp traded at 10.9 times earnings, against a 10-year median of 12.1. Based on the latest twelve months, the trailing P/E is 12.9 and the forward P/E is 11.3. Washington Trust Bancorp earned a return on equity of 10.0% and a return on invested capital of 3.8% in fiscal 2025. It ended the year with $726.1 million of debt and $42.4 million in cash and short-term investments, net debt of $683.8 million. It returned $50.7 million to shareholders: $43.3 million in dividends and $7.4 million in share buybacks, 100% of free cash flow. The share count rose 12.0% from 17.2M to 19.3M over 9 years.
See the WASH income statement, the WASH chart for price history, or the WASH stock overview for the latest quote and news.
WASH key metrics FAQ
What is Washington Trust Bancorp's P/E ratio?
Washington Trust Bancorp's trailing P/E ratio is 12.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.3. At the end of fiscal 2025 it was 10.9, compared with a 10-year median of 12.1.
What is Washington Trust Bancorp's EV/EBITDA?
Washington Trust Bancorp's enterprise value was 17.5 times EBITDA at the end of fiscal 2025 (enterprise value $1.3 billion, EBITDA $71.6 million).
What is Washington Trust Bancorp's return on equity?
Washington Trust Bancorp's return on equity (ROE) was 10.0% in fiscal 2025: net income of $52.2 million on average shareholders' equity of $521.7 million.
What is Washington Trust Bancorp's ROIC?
Washington Trust Bancorp's return on invested capital was 3.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Washington Trust Bancorp have?
Washington Trust Bancorp had total debt of $726.1 million at the end of fiscal 2025, a debt-to-equity ratio of 1.34 and $683.8 million of net debt (9.55 times EBITDA).
What is Washington Trust Bancorp's dividend yield?
Washington Trust Bancorp's forward dividend yield is 6.04%. Washington Trust Bancorp paid $43.3 million in dividends in fiscal 2025 ($2.25 per share), a payout ratio of 82.9%.
Does Washington Trust Bancorp buy back its shares?
Yes. Washington Trust Bancorp spent $7.4 million on net share repurchases in fiscal 2025 Shares outstanding changed +12.4% over the year, to 19.3M..
What is Washington Trust Bancorp's free cash flow yield?
Washington Trust Bancorp generated $50.5 million of free cash flow in fiscal 2025, a free cash flow yield of 8.9% on its market value at year-end ($569.8 million).
What is Washington Trust Bancorp's current ratio?
Washington Trust Bancorp's current ratio was 0.01 at the end of fiscal 2025: current assets were 0.01 times current liabilities.