WD · Walker & Dunlop, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $301.33M | - | $337.68M | $319.24M | $237.37M | - | $292.30M | $270.68M | $228.06M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - |
| Total Operating Expenses | $275.38M | - | $291.74M | $272.87M | $232.12M | - | $254.80M | $242.48M | $214.38M | - |
| D&A | $62.96M | - | $60.04M | $58.94M | $57.62M | - | $57.56M | $56.04M | $55.89M | - |
| Operating Income | $25.95M | - | $45.94M | $46.37M | $5.24M | - | $37.51M | $28.20M | $13.68M | - |
| Interest Expense | $14.90M | - | $16.45M | $16.77M | $15.51M | - | $18.23M | $17.87M | $8.61M | - |
| Income Tax | $8.02M | - | $12.52M | $12.43M | $2.52M | - | $8.82M | $7.90M | $2.86M | - |
| Net Income | $15.87M | - | $33.45M | $33.95M | $2.75M | - | $28.80M | $22.66M | $11.87M | - |
| EPS - Basic | $0.46 | - | $0.98 | $1.00 | $0.08 | - | $0.85 | $0.67 | $0.35 | - |
| EPS - Diluted | $0.46 | - | $0.98 | $0.99 | $0.08 | - | $0.85 | $0.67 | $0.35 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $192.53M | $299.31M | $274.83M | $233.71M | $180.97M | $279.27M | $179.76M | $208.09M | $216.53M | $328.70M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $6.17B | $5.06B | $5.80B | $4.68B | $4.51B | $4.38B | $4.58B | $4.18B | $3.83B | $4.05B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $4.43B | $3.31B | $4.02B | $2.91B | $2.77B | $2.62B | $2.83B | $2.44B | $2.09B | $2.31B |
| Stockholders' Equity | $1.72B | $1.74B | $1.77B | $1.75B | $1.73B | $1.75B | $1.71B | $1.70B | $1.72B | $1.72B |
| Retained Earnings | $1.26B | $1.28B | $1.32B | $1.31B | $1.30B | $1.32B | $1.30B | $1.29B | $1.29B | $1.30B |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($1.14B) | - | - | - | ($281.11M) | - | - | - | $38.40M | - |
| Investing Cash Flow | ($40.08M) | - | - | - | ($39.38M) | - | - | - | ($25.05M) | - |
| Financing Cash Flow | $1.07B | - | - | - | $222.03M | - | - | - | ($124.15M) | - |
| CapEx | $1.89M | - | - | - | $3.63M | - | - | - | $3.22M | - |
| Free Cash Flow | ($1.15B) | - | - | - | ($284.74M) | - | - | - | $35.18M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | 8.6% | - | 13.6% | 14.5% | 2.2% | - | 12.8% | 10.4% | 6.0% | - |
| EBITDA margin | 29.5% | - | 31.4% | 33.0% | 26.5% | - | 32.5% | 31.1% | 30.5% | - |
| Net margin | 5.3% | - | 9.9% | 10.6% | 1.2% | - | 9.9% | 8.4% | 5.2% | - |
| Free cash flow margin | -380.2% | - | - | - | -120.0% | - | - | - | 15.4% | - |
| FCF / Net income | -72.19 | - | - | - | -103.39 | - | - | - | 2.96 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | - | - | - | - | - | - | - | - | - | - |
| Effective tax rate | 33.6% | - | 27.2% | 26.8% | 47.8% | - | 23.4% | 25.9% | 19.4% | - |
| Return on assets | 0.3% | - | 0.6% | 0.7% | 0.1% | - | 0.6% | 0.5% | 0.3% | - |
| Return on equity | 0.9% | - | 1.9% | 1.9% | 0.2% | - | 1.7% | 1.3% | 0.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 1.7x | - | 2.8x | 2.8x | 0.3x | - | 2.1x | 1.6x | 1.6x | - |
| Equity multiplier | 3.58 | 2.92 | 3.28 | 2.67 | 2.60 | 2.51 | 2.68 | 2.46 | 2.23 | 2.35 |
| Liabilities / Assets | 0.72 | 0.65 | 0.69 | 0.62 | 0.61 | 0.60 | 0.62 | 0.58 | 0.55 | 0.57 |
| Efficiency | ||||||||||
| Asset turnover | 0.05 | - | 0.06 | 0.07 | 0.05 | - | 0.06 | 0.06 | 0.06 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 96.5x | - | 85.3x | 71.2x | 1067.0x | - | 133.6x | 146.6x | 288.7x | - |
| P / B | 0.9x | - | 1.6x | 1.3x | 1.6x | - | 2.2x | 1.9x | 1.9x | - |
| P / S | 4.9x | - | 8.3x | 7.4x | 12.0x | - | 12.9x | 12.0x | 14.6x | - |
| EV / EBITDA | 14.5x | - | 23.8x | 20.1x | 42.3x | - | 37.8x | 36.2x | 44.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 26.9% | - | 15.5% | 17.9% | 4.1% | - | 8.8% | -0.7% | -4.5% | - |
| Revenue CAGR (3y) | 8.1% | - | 2.3% | -2.2% | -9.4% | - | -5.5% | -1.3% | 0.6% | - |
| Revenue CAGR (5y) | 6.1% | - | 6.5% | 4.8% | 0.3% | - | 6.6% | 6.2% | 4.0% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 394.9% | - | 22.5% | 64.5% | -61.7% | - | 32.9% | -21.7% | -60.5% | - |
| Net income growth (YoY) | 476.3% | - | 16.1% | 49.8% | -76.8% | - | 34.2% | -18.0% | -55.5% | - |
| EPS growth (YoY) | 475.0% | - | 15.3% | 47.8% | -77.1% | - | 32.8% | -18.3% | -55.7% | - |
| EPS CAGR (3y) | -16.5% | - | -11.2% | -15.0% | -66.5% | - | -27.3% | -27.1% | -42.0% | - |
| EPS CAGR (5y) | -23.8% | - | -10.0% | -12.7% | -44.3% | - | -9.4% | -12.8% | -24.1% | - |
| FCF growth (YoY) | -302.4% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -0.7% | -0.7% | 3.3% | 3.1% | 1.0% | 1.4% | 0.2% | -0.1% | 1.8% | 2.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.23B totalCapital Markets$646.95M · 52.4%
Servicing And Asset Management$566.56M · 45.9%
Corporate$20.79M · 1.7%
Product / service
$1.46B totalLoan Origination And Debt Brokerage Fees Net$342.15M · 23.4%
Servicing Fees$337.44M · 23.1%
Fair Value Of Expected Future Cash Flows From Servicing Rights Net$179.68M · 12.3%
Escrow Earnings And Other Interest Income$152.58M · 10.4%
Loan Origination Fees$125.92M · 8.6%
Product And Service Other$109.79M · 7.5%
Property Sales Broker Fees$83.52M · 5.7%
Application Fees Subscription Revenues Other Revenues From Lihtc Operations And Other Revenues$75.89M · 5.2%
Investment Management Fees$34.63M · 2.4%
Asset Management1$26.20M · 1.8%
Net Warehouse Interest Income Expense Net($5.49M) · -0.4%
Peer comparison
Same SIC group: Finance Services
Comparing Walker & Dunlop against the 5 most active filers in the same SIC group.
Dividends
$2.70/share trailing 12 months · +2.3% YoY
| Ex-date | Per share |
|---|---|
| May 21, 2026 | $0.6800 |
| Mar 13, 2026 | $0.6800 |
| Nov 21, 2025 | $0.6700 |
| Aug 21, 2025 | $0.6700 |
| May 15, 2025 | $0.6700 |
| Feb 28, 2025 | $0.6700 |
| Nov 22, 2024 | $0.6500 |
| Aug 22, 2024 | $0.6500 |
| May 15, 2024 | $0.6500 |
| Feb 29, 2024 | $0.6500 |
| Nov 22, 2023 | $0.6300 |
| Aug 16, 2023 | $0.6300 |
| May 17, 2023 | $0.6300 |
| Mar 7, 2023 | $0.6300 |
| Nov 23, 2022 | $0.6000 |
| Aug 17, 2022 | $0.6000 |
| May 18, 2022 | $0.6000 |
| Feb 18, 2022 | $0.6000 |
| Nov 18, 2021 | $0.5000 |
| Aug 18, 2021 | $0.5000 |
| May 19, 2021 | $0.5000 |
| Feb 19, 2021 | $0.5000 |
| Nov 12, 2020 | $0.3600 |
| Aug 20, 2020 | $0.3600 |