WAFDWAFD INC
National Commercial Banks
- Revenue
- $30M
- 7.8% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.2B
- Employees
- 441
- $67K revenue each
- Net debt / EBITDA
- —
- AI in 10-K
- 2.5
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo105% of net incomeCash flow under 80% of net income
- Dilutive SBCYes29% of revenueOver 10% of revenue
- Payouts exceed cash flowNo79% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo85% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$67K · 51st pctBottom quartile of its SIC industry
- Quiet on AINo2.5 per 10K words · 62nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$855K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $25M | $26M | $26M | $28M | $30M | 7.8% |
| Net income | $184M | $236M | $257M | $200M | $226M | 13% |
| Operating cash flow | $314M | $268M | $214M | $439M | $237M | 46% |
| Capex | $29M | $12M | $15M | $25M | $29M | 16% |
| Stock-based comp | $6M | $7M | $8M | $9M | $9M | 7.2% |
| Buybacks | $349M | $3M | $30M | $27M | $102M | 277% |
| Dividends | $66M | $62M | $64M | $74M | $85M | 14% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Oct 22, 2026 | PREM14A | EverBank Financial Corp | $107.30 | 59.175% |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $100K · 2
- Open-market sells, 12 mo
- $955K · 2
- Net
- −$855K
Pay vs performance
No pay-versus-performance disclosure yet.