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Financials · WD

Walker & Dunlop Inc (WD) financials

For the twelve months ended Sep 30, 2026, Walker & Dunlop Inc reported $1.25B of revenue and -$32.29M of net income.

Revenue, TTM
$1.25B
Revenue growth, YoY
+0.9%
Net income, TTM
-$32.29M
Net margin
-2.6%
Free cash flow, TTM
$1.54B
EPS, diluted, TTM
-$1.01
Cash
$183.24M
Total debt
$804.61M
P/S
1.15
Market cap
$1.43B
Annual revenue$1.23B
FY2016FY2025
Annual net income$56.25M
FY2016FY2025
Annual free cash flow-$680.08M
FY2016FY2025

WD revenue and earnings growth

WD revenueQ3 2026$298.45M

Quarter YoY
-11.6%
QoQ
-2.7%
FY YoY
+9.0%
5Y CAGR
+2.6%
10Y CAGR
+10.2%

WD revenue was $298.45M in fiscal Q3 2026 (ended Sep 30, 2026), down 11.6% from a year earlier and down 2.7% from the prior quarter. For the full fiscal 2025 it was $1.23B, up 9.0% from fiscal 2024. Compound annual growth was +2.6% over 5 years and +10.2% over 10 years. It rose in 8 of the last 10 fiscal years.

WD net incomeQ3 2026-$37.26M

FY YoY
-48.0%
5Y CAGR
-25.6%
10Y CAGR
-3.7%

WD net income was -$37.26M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $33.45M a year earlier. For the full fiscal 2025 it was $56.25M, down 48.0% from fiscal 2024. Compound annual growth was -25.6% over 5 years and -3.7% over 10 years. It rose in 6 of the last 10 fiscal years.

WD EPSQ3 2026-$1.15

FY YoY
-48.6%
5Y CAGR
-26.6%
10Y CAGR
-4.7%

WD diluted EPS was -$1.15 in fiscal Q3 2026 (ended Sep 30, 2026), compared with $0.98 a year earlier. For the full fiscal 2025 it was $1.64, down 48.6% from fiscal 2024. Compound annual growth was -26.6% over 5 years and -4.7% over 10 years.

WD free cash flowQ3 2026$718.87M

QoQ
-38.5%

WD free cash flow was $718.87M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$950.43M a year earlier and down 38.5% from the prior quarter. For the full fiscal 2025 it was -$680.08M, compared with $116.40M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$1.23B$1.13B$1.05B$1.26B$1.26B$1.08B$817.22M$725.25M$711.86M$575.28M
Interest expense--$50.34M$49.29M$32.78M-----
Pre-tax income$79.00M$131.50M$138.20M$264.96M$352.06M$330.27M$230.35M$212.85M$233.66M$185.78M
Income tax$22.01M$30.54M$35.03M$56.03M$86.43M$84.31M$57.12M$51.91M$21.83M$71.47M
Net income$56.25M$108.17M$107.36M$213.82M$265.76M$246.18M$173.37M$161.44M$211.13M$113.90M
EPS, basic$1.65$3.19$3.20$6.43$8.27$7.85$5.61$5.15$6.72$3.66
EPS, diluted$1.64$3.19$3.18$6.36$8.15$7.69$5.45$4.96$6.47$3.57
Diluted shares33.4M33.2M32.9M32.7M31.5M31.1M30.8M31.4M31.4M30.5M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$299.31M$279.27M$328.70M$225.95M$305.63M$321.10M$120.69M$90.06M$191.22M$118.76M
Goodwill$868.71M$868.71M$901.71M$959.71M$698.63M$248.96M$180.42M$173.90M$123.77M$96.42M
Total assets$5.06B$4.38B$4.05B$4.05B$5.21B$4.65B$2.68B$2.78B$2.21B$3.05B
Total debt$829.22M$768.04M$773.36M$704.10M$740.17M$291.59M$293.96M$296.01M$163.86M$164.16M
Total liabilities$3.31B$2.62B$2.31B$2.33B$3.63B$3.45B$1.63B$1.87B$1.39B$2.44B
Shareholders' equity$1.74B$1.76B$1.75B$1.72B$1.58B$1.20B$1.04B$907.19M$814.98M$615.07M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$664.31M$129.36M-$518.0K$1.58B$870.46M-$1.41B$427.56M$64.08M$1.07B$759.46M
Capital expenditures$15.77M$12.96M$16.20M$22.00M$9.21M$2.98M$4.71M$4.72M$5.21M$2.48M
Free cash flow-$680.08M$116.40M-$16.72M$1.56B$861.25M-$1.41B$422.85M$59.35M$1.06B$756.99M
Investing cash flow-$77.34M-$38.13M$126.87M-$133.78M-$377.55M$115.18M-$79.70M-$552.24M$97.17M-$66.76M
Financing cash flow$758.13M-$154.73M$6.77M-$1.58B-$457.73M$1.52B-$331.64M$321.83M-$1.09B-$693.62M
Dividends paid$91.80M$88.63M$84.84M$80.14M$64.45M$45.35M$37.27M$31.45M--
Share repurchases$10.45M$12.38M$20.51M$42.37M$18.87M$45.77M$30.68M$68.83M$34.90M$12.89M
Stock-based compensation$26.75M$27.33M$27.84M$33.99M$36.58M$28.32M$24.07M$23.96M$21.13M$18.48M
Depreciation and amortization$238.68M$237.55M$226.75M$235.03M$210.28M$169.01M$152.47M$142.13M$131.25M$111.43M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY9.0%7.4%-16.2%-0.0%16.2%32.6%12.7%1.9%23.7%22.9%
Net income growth, YoY-48.0%0.8%-49.8%-19.5%8.0%42.0%7.4%-23.5%85.4%38.7%
EPS growth, YoY-48.6%0.3%-50.0%-22.0%6.0%41.1%9.9%-23.3%81.2%34.7%
Net margin4.6%9.6%10.2%17.0%21.1%22.7%21.2%22.3%29.7%19.8%
Free cash flow margin-55.1%10.3%-1.6%124.0%68.4%-130.5%51.7%8.2%149.2%131.6%
Return on equity3.2%6.1%6.1%12.5%16.8%20.6%16.6%17.8%25.9%18.5%
Return on assets1.1%2.5%2.6%5.3%5.1%5.3%6.5%5.8%9.6%3.7%
Debt to equity0.480.440.440.410.470.240.280.330.200.27

Source: XBRL data Walker & Dunlop Inc files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

WD peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
WD$1.25B+0.9%-$32.29M-2.6%$1.43B
AXP$77.59B+10.2%$12.26B15.8%$217.47B
SPGI$17.21B+18.2%$4.99B29.0%$136.57B
MCO$8.18B+9.0%$2.88B35.3%$88.11B
NU$15.77B+37.0%$2.87B18.2%$60.02B
RKT$11.46B+90.4%$1.30B11.4%$43.11B
COIN$5.63B-26.6%-$701.62M-12.5%$36.03B
AFRM$4.59B+32.7%$2.01B43.9%$23.06B
SYF$19.31B+2.6%$3.33B17.3%$22.80B

WD FAQ

8 questions
  • What is WD revenue?
    Walker & Dunlop Inc (WD) reported $1.25B of revenue for the twelve months ended Sep 30, 2026. That is up 0.9% from the year before. Revenue for fiscal 2025 was $1.23B.
  • Is WD profitable?
    No. Walker & Dunlop Inc reported a net loss of $32.29M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does WD have?
    Walker & Dunlop Inc reported $183.24M in cash and cash equivalents and $804.61M of debt on its most recent balance sheet in SEC filings.
  • How fast is WD revenue growing?
    Walker & Dunlop Inc's revenue changed +9.0% in fiscal 2025, to $1.23B. Its compound annual growth rate was +2.6% over 5 years and +10.2% over 10 years.
  • What is WD free cash flow?
    Walker & Dunlop Inc generated $1.54B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.55B less capital expenditures.
  • What is WD earnings per share?
    Diluted earnings per share were -$1.01 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did WD last report financial results?
    The latest statements here come from Walker & Dunlop Inc's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this WD financial data come from?
    Quantisnow builds these statements from the structured XBRL data Walker & Dunlop Inc files with the SEC. It is provided for information only and is not investment advice.