West Bancorporation, Inc. (WTBA) Key Metrics
WTBA valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $497.5M
- Enterprise value
- $433.7M
- P/E (TTM)
- 13.0 10-yr median 13.2
- Forward P/E
- 13.3
- PEG ratio
- —
- Price / sales
- 4.8 10-yr median 3.3
- Price / book
- 1.7 10-yr median 1.6
- EV / EBITDA
- — 10-yr median 2.1
- Dividend yield
- 3.56% $1.04 a year
- Beta
- 0.70
WTBA key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsWTBA valuation Price multiples at each fiscal year-end price.
WTBA returns How much profit the business earns on the capital it uses.
WTBA per-share figures Results divided by the shares outstanding at year-end.
WTBA financial health Debt, liquidity and how easily interest is covered.
WTBA efficiency & capital use Working capital cycle and where the cash goes.
WTBA valuation history
WTBA returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
WTBA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
WTBA cash returned to shareholders
WTBA price vs earnings per share
WTBA key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $377.6M | $365.8M | $355.1M | $429.2M | $521.6M | $318.7M | $422.4M | $313.1M | $410.8M | $400.3M |
| Enterprise value | $114.5M | −$29.6M | $258.5M | $71.0M | −$53.4M | $47.0M | $212.8M | $45.3M | $74.8M | $233.9M |
| P/E ratio | 11.6 | 15.2 | 14.7 | 9.2 | 10.5 | 9.7 | 14.7 | 11.0 | 17.8 | 17.4 |
| Price / sales | 1.9 | 1.8 | 2.1 | 3.2 | 4.5 | 2.9 | 3.9 | 3.4 | 5.0 | 5.6 |
| Price / book | 1.4 | 1.6 | 1.6 | 2.0 | 0.2 | 0.1 | 0.2 | 1.6 | 2.3 | 2.4 |
| Price / free cash flow | 8.7 | 26.8 | — | 11.3 | 10.6 | 8.0 | 11.8 | 9.1 | 14.5 | 23.0 |
| Price / operating cash flow | 8.1 | 9.2 | 14.1 | 7.2 | 9.0 | 7.5 | 11.4 | 9.0 | 14.0 | 13.3 |
| EV / sales | 0.6 | -0.1 | 1.5 | 0.5 | -0.5 | 0.4 | 2.0 | 0.5 | 0.9 | 3.2 |
| EV / EBITDA | 2.3 | — | 7.4 | 1.1 | — | 1.1 | 5.2 | 1.1 | 1.8 | 6.1 |
| EV / free cash flow | 2.7 | — | — | 1.9 | — | 1.2 | 5.9 | 1.3 | 2.6 | 13.4 |
| Earnings yield | 8.6% | 6.6% | 6.8% | 10.8% | 9.5% | 10.3% | 6.8% | 9.1% | 5.6% | 5.7% |
| Free cash flow yield | 11.4% | 3.7% | −3.1% | 8.9% | 9.4% | 12.5% | 8.5% | 11.0% | 6.9% | 4.3% |
| Dividend yield | 4.5% | 4.6% | 4.7% | 3.9% | 3.0% | 4.3% | 3.2% | 4.1% | 2.8% | 2.7% |
| Shareholder yield (dividends + buybacks) | 4.8% | 4.9% | 5.0% | 4.2% | 3.2% | 4.6% | 3.4% | 4.4% | 3.0% | 2.8% |
| Share price at fiscal year-end | $22.19 | $21.65 | $21.20 | $25.55 | $31.07 | $19.30 | $25.63 | $19.09 | $25.15 | $24.70 |
| Per share | ||||||||||
| Revenue per share | $11.67 | $11.71 | $10.13 | $7.95 | $6.93 | $6.62 | $6.49 | $5.64 | $5.00 | $4.45 |
| Earnings per share | $1.91 | $1.42 | $1.44 | $2.76 | $2.95 | $1.98 | $1.74 | $1.74 | $1.41 | $1.42 |
| Operating cash flow per share | $2.73 | $2.36 | $1.51 | $3.54 | $3.45 | $2.56 | $2.24 | $2.12 | $1.80 | $1.86 |
| Free cash flow per share | $2.54 | $0.81 | −$0.66 | $2.27 | $2.93 | $2.42 | $2.18 | $2.11 | $1.73 | $1.07 |
| Cash per share | $37.58 | $46.64 | $41.15 | $41.02 | $46.24 | $30.17 | $26.48 | $30.50 | $29.33 | $18.61 |
| Book value per share | $15.63 | $13.49 | $13.44 | $12.57 | $196.75 | $179.76 | $136.59 | $11.65 | $10.90 | $10.20 |
| Tangible book value per share | $15.63 | $13.49 | $13.44 | $12.57 | $196.75 | $179.76 | $136.59 | $11.65 | $10.90 | $10.20 |
| Dividends per share | $0.99 | $0.99 | $1.00 | $0.99 | $0.93 | $0.84 | $0.82 | $0.77 | $0.70 | $0.67 |
| Capex per share | $0.20 | $1.55 | $2.17 | $1.27 | $0.52 | $0.14 | $0.06 | $0.01 | $0.06 | $0.79 |
| Debt per share | $22.12 | $23.24 | $35.38 | $19.70 | $11.99 | $13.72 | $13.76 | $14.17 | $8.76 | $8.34 |
| Shares outstanding | 17.0M | 16.9M | 16.8M | 16.8M | 16.8M | 16.5M | 16.5M | 16.4M | 16.3M | 16.2M |
| Change in shares outstanding | +0.7% | +0.9% | −0.3% | +0.1% | +1.7% | +0.2% | +0.5% | +0.4% | +0.8% | +0.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 13.2% | 10.6% | 11.1% | 2.6% | 1.6% | 1.3% | 2.3% | 15.4% | 13.4% | 14.5% |
| Return on invested capital (ROIC) | — | — | — | — | 1.8% | 1.4% | 2.9% | — | — | — |
| Return on assets (ROA) | 0.8% | 0.6% | 0.6% | 1.3% | 1.5% | 1.2% | 1.2% | 1.3% | 1.2% | 1.3% |
| Return on tangible assets | 0.8% | 0.6% | 0.6% | 1.3% | 1.4% | 1.0% | 1.2% | 1.2% | 1.1% | 1.2% |
| Free cash flow margin | 21.7% | 6.9% | −6.6% | 28.5% | 42.2% | 36.5% | 33.6% | 37.3% | 34.6% | 24.1% |
| Income quality (OCF / net income) | 1.43 | 1.66 | 1.05 | 1.28 | 1.17 | 1.29 | 1.29 | 1.22 | 1.27 | 1.31 |
| Financial health | ||||||||||
| Total debt | $376.4M | $392.6M | $592.6M | $330.9M | $201.3M | $226.5M | $226.8M | $232.4M | $143.2M | $135.1M |
| Cash & short-term investments | $639.5M | $788.0M | $689.3M | $689.0M | $776.4M | $498.3M | $436.4M | $500.1M | $479.2M | $301.6M |
| Net debt | −$263.1M | −$395.4M | −$96.6M | −$358.2M | −$575.0M | −$271.7M | −$209.6M | −$267.8M | −$336.0M | −$166.5M |
| Debt / equity | 1.42 | 1.72 | 2.63 | 1.57 | 0.06 | 0.08 | 0.10 | 1.22 | 0.80 | 0.82 |
| Debt / assets | 0.09 | 0.10 | 0.15 | 0.09 | 0.06 | 0.07 | 0.09 | 0.10 | 0.07 | 0.07 |
| Net debt / EBITDA | −5.37 | −11.51 | −2.77 | −5.61 | −8.64 | −6.07 | −5.14 | −6.46 | −8.01 | −4.35 |
| Current ratio | 0.19 | 0.24 | 0.22 | 3.50 | 0.56 | 0.36 | 0.49 | 0.26 | 0.26 | 0.20 |
| Quick ratio | 0.19 | 0.24 | 0.44 | 3.70 | 0.71 | 0.64 | 0.55 | 0.29 | 0.29 | 0.25 |
| Interest coverage | 0.4 | 0.2 | 0.3 | 1.9 | 5.1 | 2.4 | 1.1 | 1.5 | 2.8 | 4.2 |
| Working capital | −$2.82B | −$2.56B | −$2.42B | $501.0M | −$612.5M | −$925.7M | −$466.3M | −$1.44B | −$1.35B | −$1.26B |
| Invested capital | $2.9M | −$167.5M | $128.4M | −$147.0M | $2.73B | $2.70B | $2.04B | −$76.7M | −$157.9M | −$1.1M |
| Tangible asset value | $266.0M | $227.9M | $225.0M | $211.1M | $3.30B | $2.97B | $2.25B | $191.0M | $178.1M | $165.4M |
| Net current asset value | −$3.22B | −$2.99B | −$2.90B | −$2.70B | $588.3M | $292.5M | $220.8M | −$1.60B | −$1.45B | −$1.38B |
| Graham number | $25.94 | $20.78 | $20.87 | $27.95 | $114.37 | $89.51 | $73.14 | $21.34 | $18.61 | $18.06 |
| Graham net-net per share | −$189.70 | −$176.94 | −$193.23 | −$162.12 | $28.90 | $5.20 | $11.46 | −$99.22 | −$90.56 | −$87.88 |
| Capital allocation | ||||||||||
| Dividends paid | $16.9M | $16.8M | $16.7M | $16.6M | $15.5M | $13.8M | $13.6M | $12.7M | $11.5M | $10.8M |
| Share buybacks (net) | $1.1M | $1.1M | $935,000 | $1.5M | $1.2M | $749,000 | $861,000 | $1.1M | $631,000 | $394,000 |
| Dividend payout ratio | 51.9% | 69.9% | 69.2% | 35.8% | 31.3% | 42.2% | 47.3% | 44.5% | 49.8% | 46.9% |
| Dividends + buybacks / free cash flow | 41.8% | 130.9% | — | 47.6% | 34.1% | 36.4% | 40.2% | 39.9% | 42.9% | 64.4% |
| Capex / revenue | 1.7% | 13.2% | 21.4% | 16.0% | 7.5% | 2.1% | 1.0% | 0.2% | 1.3% | 17.8% |
| Capex / operating cash flow | 7.2% | 65.7% | 144.1% | 35.9% | 15.1% | 5.5% | 2.8% | 0.6% | 3.6% | 42.4% |
| Capex / depreciation | 0.44 | 3.78 | 7.07 | 4.78 | 2.42 | 0.68 | 0.21 | 0.03 | 0.19 | 2.40 |
| Stock-based compensation / revenue | 1.4% | 1.3% | 1.8% | 2.5% | 2.2% | 2.1% | 2.8% | 3.0% | 3.2% | 2.3% |
| SG&A / revenue | 18.9% | 16.1% | 18.1% | 20.9% | 22.8% | 25.6% | 24.3% | 25.2% | 27.1% | 31.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 22.8 | 24.4 | 27.5 | 28.5 | 31.5 | 30.6 | 25.2 | 29.5 | 28.3 | 25.3 |
| Days of inventory on hand | — | — | -1,407.4 | -1,506.2 | -10,373.3 | -2,905.7 | -641.9 | -896.0 | -1,933.0 | -1,689.2 |
| Days payables outstanding | — | — | — | 19,133.7 | 51,998.7 | 374.9 | 152.3 | 88.5 | 173.4 | 277.1 |
| Cash conversion cycle (days) | — | — | — | -20,611.4 | -62,340.5 | -3,249.9 | -769.1 | -955.0 | -2,078.2 | -1,941.0 |
| Receivables turnover | 16.00 | 14.98 | 13.28 | 12.79 | 11.57 | 11.91 | 14.49 | 12.36 | 12.90 | 14.41 |
| Payables turnover | — | — | — | 0.02 | 0.01 | 0.97 | 2.40 | 4.13 | 2.10 | 1.32 |
| Asset turnover | 0.05 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Average receivables | $12.4M | $13.2M | $12.8M | $10.4M | $10.1M | $9.2M | $7.4M | $7.5M | $6.3M | $5.0M |
| Average payables | — | — | — | $1.53B | $1.53B | $30.2M | $13.7M | $5.4M | $6.2M | $6.7M |
| Average inventory | — | — | −$354.6M | −$120.1M | −$304.7M | −$234.0M | −$57.8M | −$55.2M | −$68.7M | −$41.1M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from WTBA's annual financial statements (latest annual report filed February 26, 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.
WTBA valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), West Bancorporation traded at 11.6 times earnings, against a 10-year median of 13.2. Based on the latest twelve months, the trailing P/E is 13.0 and the forward P/E is 13.3. West Bancorporation earned a return on equity of 13.2% in fiscal 2025. It ended the year with $376.4 million of debt and $639.5 million in cash and short-term investments, a net cash position of $263.1 million. It returned $18.0 million to shareholders: $16.9 million in dividends and $1.1 million in share buybacks, 42% of free cash flow. The share count rose 5.0% from 16.2M to 17.0M over 9 years.
See the WTBA income statement, the WTBA chart for price history, or the WTBA stock overview for the latest quote and news.
WTBA key metrics FAQ
What is West Bancorporation's P/E ratio?
West Bancorporation's trailing P/E ratio is 13.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.3. At the end of fiscal 2025 it was 11.6, compared with a 10-year median of 13.2.
What is West Bancorporation's EV/EBITDA?
West Bancorporation's enterprise value was 2.3 times EBITDA at the end of fiscal 2025 (enterprise value $114.5 million, EBITDA $49.0 million).
What is West Bancorporation's return on equity?
West Bancorporation's return on equity (ROE) was 13.2% in fiscal 2025: net income of $32.6 million on average shareholders' equity of $246.9 million.
How much debt does West Bancorporation have?
West Bancorporation had total debt of $376.4 million at the end of fiscal 2025, a debt-to-equity ratio of 1.42 and more cash than debt.
What is West Bancorporation's dividend yield?
West Bancorporation's forward dividend yield is 3.56%. West Bancorporation paid $16.9 million in dividends in fiscal 2025 ($0.99 per share), a payout ratio of 51.9%.
Does West Bancorporation buy back its shares?
Yes. West Bancorporation spent $1.1 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.7% over the year, to 17.0M..
What is West Bancorporation's free cash flow yield?
West Bancorporation generated $43.2 million of free cash flow in fiscal 2025, a free cash flow yield of 11.4% on its market value at year-end ($377.6 million).
What is West Bancorporation's current ratio?
West Bancorporation's current ratio was 0.19 at the end of fiscal 2025: current assets were 0.19 times current liabilities.