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Walker & Dunlop Inc (WD) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · MORTGAGE FINANCE · DATA UPDATED 2026-09-15

Walker & Dunlop Inc (WD) operates in the MORTGAGE FINANCE industry and is headquartered in Bethesda, United States with about 1,466 employees. Its market capitalization is roughly $1 billion. In the fiscal year ended 2025-12-31, WD reported $1.2B in revenue and $57M in net income.

Walker & Dunlop, Inc., through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate financing products and services for owners and developers of real estate in the United States.

Interactive charts & full statements → Open the WD valuation workbench →

WD Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Revenue	$1.3B	$1.2B	$1.1B	$1.1B	$1.3B	$1.3B	$1.1B	$817M	$725M	$712M	$575M	$468M	$361M	$319M	$257M	$152M	$122M	$89M	$49M
Gross Profit	$803M	$757M	$504M	$472M	$617M	$648M	$606M	$457M	$418M	$413M	$338M	$274M	$201M	$182M	$146M	$100M	$78M	$89M	$49M
Gross Margin %	63.5%	61.3%	44.5%	44.7%	49.0%	51.4%	56.0%	55.9%	57.6%	58.0%	58.7%	58.5%	55.7%	56.9%	56.9%	65.9%	64.1%	100.0%	100.0%
Operating Income (EBIT)	$154M	$213M	$132M	$138M	$265M	$352M	$330M	$230M	$213M	$234M	$186M	$135M	$84M	$67M	$56M	$57M	$40M	$29M	$14M
Operating Margin %	12.2%	17.3%	11.6%	13.1%	21.1%	28.0%	30.5%	28.2%	29.3%	32.8%	32.3%	28.9%	23.3%	20.9%	21.7%	37.2%	33.0%	32.2%	28.5%
Net Income	$40M	$57M	$108M	$107M	$214M	$266M	$246M	$173M	$161M	$211M	$114M	$82M	$51M	$42M	$34M	$35M	$8M	$40M	$9M
Net Margin %	3.2%	4.6%	9.6%	10.2%	17.0%	21.1%	22.7%	21.2%	22.3%	29.7%	19.8%	17.5%	14.2%	13.0%	13.2%	22.9%	6.8%	44.5%	17.7%
EBITDA	$343M	$382M	$352M	$364M	$486M	$569M	$499M	$383M	$355M	$365M	$297M	$234M	$164M	$143M	$110M	$79M	$57M	$54M	$25M
Earnings Per Share (EPS)	$1.21	$1.71	$3.26	$3.27	$6.54	$8.43	$7.92	$5.63	$5.04	$6.56	$3.65	$2.65	$1.58	$1.21	$1.31	$1.60	$0.55	$2.76	$0.59
Shares Outstanding (M)	33M	33M	33M	33M	33M	32M	31M	31M	32M	32M	31M	31M	33M	34M	26M	22M	15M	14M	15M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WD Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$307M	$279M	$340M	$338M	$319M	$237M	$341M	$292M
Gross Profit	$307M	$136M	$216M	$144M	$141M	$222M	$156M	$129M
Gross Margin %	100.0%	48.7%	63.5%	42.6%	44.0%	93.5%	45.8%	44.0%
Operating Income (EBIT)	$2M	$51M	$55M	$46M	$46M	($10M)	$52M	$38M
Operating Margin %	0.7%	18.3%	16.3%	13.6%	14.5%	-4.3%	15.3%	12.8%
Net Income	$3M	$17M	($13M)	$33M	$34M	$3M	$45M	$29M
Net Margin %	1.0%	6.1%	-3.9%	9.9%	10.6%	1.2%	13.1%	9.8%
EBITDA	$63M	$114M	$60M	$106M	$105M	$79M	$104M	$94M
Earnings Per Share (EPS)	$0.09	$0.51	$-0.39	$1.00	$1.02	$0.08	$1.35	$0.87
Shares Outstanding (M)	33M	33M	33M	33M	33M	33M	33M	33M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WD Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Cash from Operations (CFO)	($119M)	($664M)	$129M	($1M)	$1.6B	$870M	($1.4B)	$428M	$64M	$1.1B	$759M	($1.3B)	($703M)	$837M	($839M)	$58M	($171M)	$20M	($79M)
Capital Expenditures (CapEx)	$11M	$16M	$13M	$16M	$22M	$9M	$3M	$5M	$5M	$5M	$2M	$1M	$3M	$5M	$5M	$4M	$1M	$0M	$0M
Free Cash Flow (FCF)	($131M)	($680M)	$116M	($17M)	$1.6B	$861M	($1.4B)	$423M	$59M	$1.1B	$757M	($1.3B)	($706M)	$832M	($844M)	$54M	($172M)	$20M	($80M)
FCF Margin %	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Dividends Paid	$93M	$92M	$89M	$85M	$80M	$64M	$45M	$37M	$31M	$140M	$326M	$1.6B	$1.0B	$298M	$0M	$2M	$10M	$10M	$8M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WD Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$1.2B	($1.1B)	$803M	($948M)	($238M)	($281M)	$531M	($202M)
Capital Expenditures (CapEx)	$0M	$2M	$7M	$2M	$3M	$4M	$4M	$2M
Free Cash Flow (FCF)	$1.2B	($1.1B)	$796M	($950M)	($241M)	($285M)	$527M	($204M)
FCF Margin %	—	—	—	—	—	—	—	—
Dividends Paid	$23M	$24M	$23M	$23M	$23M	$23M	$22M	$22M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

WD Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31
Total Assets	$4.9B	$5.1B	$4.4B	$4.1B	$4.0B	$5.0B	$4.7B	$2.7B	$2.8B	$2.2B	$3.1B	$3.5B	$2.0B	$1.1B	$1.7B	$523M	$486M	$244M	$183M
Cash & Cash Equivalents	$161M	$299M	$279M	$329M	$226M	$306M	$321M	$121M	$90M	$191M	$119M	$137M	$113M	$171M	$65M	$54M	$33M	$10M	$7M
Total Liabilities	$3.2B	$3.3B	$2.6B	$2.3B	$2.3B	$3.5B	$3.5B	$1.6B	$1.9B	$1.4B	$2.4B	$3.0B	$1.6B	$725M	$1.3B	$359M	$361M	$174M	$169M
Total Debt (Short + Long-Term)	$3.6B	$4.5B	$2.6B	$2.7B	$2.5B	$4.8B	$2.8B	$1.2B	$1.5B	$1.1B	$2.2B	$2.8B	$1.4B	$764M	$1.2B	$271M	$276M	$28M	$38M
Total Shareholders' Equity	$1.7B	$1.7B	$1.7B	$1.7B	$1.7B	$1.6B	$1.2B	$1.0B	$907M	$815M	$615M	$492M	$433M	$403M	$353M	$164M	$125M	$31M	$14M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive WD viewer.

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