In This Article:
WaFd (NASDAQ:WAFD) Full Year 2024 Results
Key Financial Results
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Revenue: US$704.0m (flat on FY 2023).
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Net income: US$185.4m (down 24% from FY 2023).
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Profit margin: 26% (down from 35% in FY 2023).
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EPS: US$2.50 (down from US$3.72 in FY 2023).
WAFD Banking Performance Indicators
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Net interest margin (NIM): 2.69% (down from 3.40% in FY 2023).
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Cost-to-income ratio: 62.1% (up from 50.7% in FY 2023).
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Non-performing loans: 0.31% (up from 0.26% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
WaFd EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.1%.
In the last 12 months, the only revenue segment was Thrift / Savings and Loan Institutions contributing US$704.0m. The largest operating expense was General & Administrative costs, amounting to US$329.5m (64% of total expenses). Explore how WAFD's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
You should learn about the 2 warning signs we've spotted with WaFd.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.