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Washington Federal

DB:WAO
Snowflake Description

Flawless balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WAO
DB
$3B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Washington Federal, Inc. operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The last earnings update was 46 days ago. More info.


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WAO Share Price and Events
7 Day Returns
1.9%
DB:WAO
-3%
Europe Mortgage
0.3%
DE Market
1 Year Returns
3%
DB:WAO
-12.8%
Europe Mortgage
-11.7%
DE Market
WAO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Washington Federal (WAO) 1.9% 1% 10.5% 3% 37.2% 78.6%
Europe Mortgage -3% -7.9% -4.3% -12.8% 18% 9.6%
DE Market 0.3% -2.8% -0.8% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • WAO outperformed the Mortgage industry which returned -12.8% over the past year.
  • WAO outperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
WAO
Industry
5yr Volatility vs Market

WAO Value

 Is Washington Federal undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Washington Federal to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Washington Federal.

DB:WAO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $26.55 * 8.7%
$2.31
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. $26.55
Discount Rate (Cost of Equity) See below 8.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:WAO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Mortgage Unlevered Beta Simply Wall St/ S&P Global 0.9
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.899 (1 + (1- 21%) (98.19%))
1.399
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.4
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.399 * 5.96%)
8.57%

Discounted Cash Flow Calculation for DB:WAO using Excess Returns Model Model

The calculations below outline how an intrinsic value for Washington Federal is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:WAO Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.7% – 8.57%) * $26.55)
$0.03
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.03 / (8.57% - 0.23%)
$0.39
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $26.55 + $0.39
$26.94
DB:WAO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:WAO represents 0.88346x of NasdaqGS:WAFD
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88346x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 26.94 x 0.88346
€23.80
Value per share (EUR) From above. €23.80
Current discount Discount to share price of €29.23
= -1 x (€29.23 - €23.80) / €23.80
-22.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Washington Federal is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Washington Federal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Washington Federal's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:WAO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.51
NasdaqGS:WAFD Share Price ** NasdaqGS (2019-06-14) in USD $33.08
Europe Mortgage Industry PE Ratio Median Figure of 16 Publicly-Listed Mortgage Companies 9.1x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Washington Federal.

DB:WAO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:WAFD Share Price ÷ EPS (both in USD)

= 33.08 ÷ 2.51

13.2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Washington Federal is overvalued based on earnings compared to the Europe Mortgage industry average.
  • Washington Federal is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Washington Federal's expected growth come at a high price?
Raw Data
DB:WAO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.2x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-0.5%per year
Europe Mortgage Industry PEG Ratio Median Figure of 6 Publicly-Listed Mortgage Companies 0.83x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:WAO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.2x ÷ -0.5%

-25.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Washington Federal earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Washington Federal's assets?
Raw Data
DB:WAO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $24.92
NasdaqGS:WAFD Share Price * NasdaqGS (2019-06-14) in USD $33.08
Europe Mortgage Industry PB Ratio Median Figure of 18 Publicly-Listed Mortgage Companies 0.68x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:WAO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:WAFD Share Price ÷ Book Value per Share (both in USD)

= 33.08 ÷ 24.92

1.33x

* Primary Listing of Washington Federal.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Washington Federal is overvalued based on assets compared to the Europe Mortgage industry average.
X
Value checks
We assess Washington Federal's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Mortgage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Mortgage industry average (and greater than 0)? (1 check)
  5. Washington Federal has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

WAO Future Performance

 How is Washington Federal expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Washington Federal expected to grow at an attractive rate?
  • Washington Federal's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Washington Federal's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Washington Federal's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:WAO Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:WAO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -0.5%
DB:WAO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 1.6%
Europe Mortgage Industry Earnings Growth Rate Market Cap Weighted Average 9.1%
Europe Mortgage Industry Revenue Growth Rate Market Cap Weighted Average 7%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:WAO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:WAO Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-09-30 548 205 4
2019-09-30 537 206 4
DB:WAO Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 539 179 207
2018-12-31 538 193 205
2018-09-30 522 191 204
2018-06-30 514 198 198
2018-03-31 505 216 191
2017-12-31 494 196 184
2017-09-30 486 180 174
2017-06-30 478 175 172
2017-03-31 472 170 171
2016-12-31 471 196 170
2016-09-30 474 222 164
2016-06-30 471 240 162

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Washington Federal's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Washington Federal's revenue is expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:WAO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Washington Federal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:WAO Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-09-30 2.66 2.70 2.52 4.00
2019-09-30 2.57 2.60 2.52 4.00
DB:WAO Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.51
2018-12-31 2.45
2018-09-30 2.40
2018-06-30 2.30
2018-03-31 2.19
2017-12-31 2.08
2017-09-30 1.95
2017-06-30 1.92
2017-03-31 1.90
2016-12-31 1.88
2016-09-30 1.79
2016-06-30 1.76

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Washington Federal will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Washington Federal's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Washington Federal has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

WAO Past Performance

  How has Washington Federal performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Washington Federal's growth in the last year to its industry (Mortgage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Washington Federal's year on year earnings growth rate has been positive over the past 5 years.
  • Washington Federal's 1-year earnings growth exceeds its 5-year average (8.3% vs 6.1%)
  • Washington Federal's earnings growth has not exceeded the Europe Mortgage industry average in the past year (8.3% vs 8.5%).
Earnings and Revenue History
Washington Federal's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Washington Federal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:WAO Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 539.09 206.95 202.56
2018-12-31 537.80 205.12 200.62
2018-09-30 521.67 203.85 194.65
2018-06-30 513.86 198.44 191.55
2018-03-31 505.10 191.16 185.51
2017-12-31 493.72 183.96 180.70
2017-09-30 486.24 173.53 176.38
2017-06-30 478.15 171.65 172.21
2017-03-31 471.99 170.54 171.33
2016-12-31 471.08 170.20 172.33
2016-09-30 473.54 164.05 177.43
2016-06-30 471.46 162.32 179.98
2016-03-31 477.33 158.37 178.56
2015-12-31 475.46 157.01 175.55
2015-09-30 475.62 160.32 169.87
2015-06-30 473.55 158.38 166.36
2015-03-31 465.65 157.24 164.18
2014-12-31 460.64 155.54 162.32
2014-09-30 451.68 157.36 154.49
2014-06-30 439.81 159.71 149.36
2014-03-31 425.23 159.14 140.92
2013-12-31 412.62 156.46 130.95
2013-09-30 400.72 151.51 125.41
2013-06-30 481.25 144.13 113.67
2013-03-31 471.23 141.95 105.43
2012-12-31 463.79 140.05 98.95
2012-09-30 368.92 138.18 107.26
2012-06-30 372.42 133.32 91.83

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Washington Federal has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Washington Federal used its assets more efficiently than the Europe Mortgage industry average last year based on Return on Assets.
  • Unable to establish if Washington Federal improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Washington Federal's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Mortgage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Washington Federal has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

WAO Health

 How is Washington Federal's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Washington Federal's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Washington Federal Company Filings, last reported 2 months ago.

DB:WAO Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,004.28 2,612.92 287.98
2018-12-31 1,983.09 2,543.34 299.97
2018-09-30 1,996.91 2,342.73 307.49
2018-06-30 1,986.26 2,380.14 378.26
2018-03-31 1,988.67 2,333.62 282.97
2017-12-31 2,009.62 2,422.62 322.30
2017-09-30 2,005.69 2,228.01 314.21
2017-06-30 2,021.19 2,279.03 360.59
2017-03-31 2,014.76 2,154.06 270.95
2016-12-31 1,999.60 2,084.69 401.40
2016-09-30 1,975.73 2,135.55 471.26
2016-06-30 1,962.19 2,141.01 552.14
2016-03-31 1,962.46 2,025.07 293.58
2015-12-31 1,970.24 1,949.98 315.62
2015-09-30 1,955.68 1,857.40 295.93
2015-06-30 1,959.12 1,739.34 354.98
2015-03-31 1,968.14 1,848.07 683.63
2014-12-31 1,981.34 1,840.14 548.40
2014-09-30 1,973.28 1,932.88 784.45
2014-06-30 1,990.64 1,932.73 864.04
2014-03-31 1,980.68 1,930.32 608.56
2013-12-31 1,952.98 1,930.41 967.75
2013-09-30 1,937.64 1,930.01 203.57
2013-06-30 1,922.89 1,930.00 647.38
2013-03-31 1,934.35 1,930.00 782.06
2012-12-31 1,914.68 1,880.00 637.30
2012-09-30 1,899.75 1,880.00 751.43
2012-06-30 1,933.28 2,757.15 963.77
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Washington Federal has an acceptable proportion of non-loan assets held.
  • Washington Federal's liabilities are made up of primarily low risk sources of funding.
  • Loans at Washington Federal are broadly funded by customer deposits.
  • Washington Federal's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Washington Federal has a sufficient allowance for bad loans.
  • Washington Federal has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Washington Federal's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Washington Federal has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

WAO Dividends

 What is Washington Federal's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.42%
Current annual income from Washington Federal dividends. Estimated to be 2.46% next year.
If you bought €2,000 of Washington Federal shares you are expected to receive €48 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Washington Federal's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Washington Federal's dividend is below the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:WAO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Mortgage Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:WAO Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-09-30 0.84 4.00
2019-09-30 0.79 4.00
DB:WAO Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-29 0.800 2.454
2019-01-16 0.800 2.654
2018-10-22 0.720 2.633
2018-07-23 0.720 2.190
2018-04-30 0.680 2.067
2018-01-24 0.680 1.963
2017-10-25 0.600 1.733
2017-07-24 0.600 1.829
2017-04-24 0.600 1.808
2017-01-18 0.600 1.800
2016-10-25 0.560 1.752
2015-12-03 0.520 2.173
2015-05-06 0.520 2.225
2015-01-21 0.520 2.432
2014-09-22 0.440 2.074
2014-06-25 0.440 2.044
2014-03-24 0.400 1.824
2013-12-23 0.400 1.761
2013-09-23 0.400 1.787
2013-06-24 0.360 1.714
2013-03-25 0.360 2.104
2012-12-17 0.320 1.842
2012-09-24 0.320 1.940
2012-06-25 0.320 1.966
2012-03-26 0.320 1.905
2011-12-19 0.320 2.055
2011-09-26 0.240 1.811
2011-06-27 0.240 1.560
2011-03-28 0.240 1.511
2010-12-20 0.240 1.386
2010-09-27 0.200 1.314
2010-06-28 0.200 1.275
2010-03-22 0.200 1.066
2009-12-21 0.200 1.021
2009-09-28 0.200 1.113
2009-06-30 0.200 1.395

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Washington Federal's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Washington Federal's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Washington Federal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Washington Federal has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

WAO Management

 What is the CEO of Washington Federal's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Brent Beardall
COMPENSATION $2,339,716
AGE 47
TENURE AS CEO 2.2 years
CEO Bio

Mr. Brent J. Beardall, CPA has been the Chief Executive Officer of Washington Federal, Inc. since April 1, 2017 and has been its President since July 26, 2016. Mr. Beardall has been the President of Washington Federal Bank, National Association since July 26, 2016 and has been its Chief Executive Officer since April 1, 2017 and served as its Chief Banking Officer since 2014 until April 1, 2017. He served as Chief Banking Officer of Washington Federal, Inc. since March 25, 2014 until April 1, 2017 and served as its Executive Vice President October 2007. Mr. Beardall served as Interim Chief Financial Officer of Washington Federal, Inc. from September 21, 2015 to May 23, 2016. Mr. Beardall served as the Chief Financial Officer of Washington Federal Inc. from October 2003 to March 25, 2014 and its Principal Accounting Officer from February 2003 to March 25, 2014 and also served as its Senior Vice President from October 2003 to October 2007. He served as Controller at Washington Federal Inc. since February 2001. He worked as an Auditor for Deloitte & Touche LLP in Seattle for six years. He has been a Director of Washington Federal, Inc. and Washington Federal Bank, National Association since April 1, 2017. Mr. Beardall is a Certified Public Accountant. He holds an undergraduate degree and a masters degree in accounting from brigham young university and in 2014, he completed the Stanford university executive program.

CEO Compensation
  • Brent's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Brent's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Washington Federal management team in years:

2.8
Average Tenure
50
Average Age
  • The tenure for the Washington Federal management team is about average.
Management Team

Brent Beardall

TITLE
President
COMPENSATION
$2M
AGE
47
TENURE
2.2 yrs

Vince Beatty

TITLE
Executive VP & CFO
COMPENSATION
$1M
AGE
58
TENURE
3.1 yrs

Cathy Cooper

TITLE
Executive VP & Group Manager of Retail Banking
COMPENSATION
$820K
AGE
52
TENURE
2.8 yrs

Bob Peters

TITLE
Executive VP & Group Manager of Commercial Banking
COMPENSATION
$926K
AGE
57
TENURE
2.5 yrs

Kim Robison

TITLE
Executive VP & Operations Manager
AGE
48
TENURE
1.1 yrs

Cory Stewart

TITLE
Principal Accounting Officer & Senior VP
AGE
46
TENURE
2.9 yrs

Jim Motz

TITLE
Chief Information Officer & Executive VP

Arian Colachis

TITLE
Senior VP

Brad Goode

TITLE
Chief of Communications
TENURE
2.8 yrs

Lisa King

TITLE
Senior Vice President of Human Resources
Board of Directors Tenure

Average tenure and age of the Washington Federal board of directors in years:

6.8
Average Tenure
65
Average Age
  • The tenure for the Washington Federal board of directors is about average.
Board of Directors

Tom Kelley

TITLE
Chairman of the Board
COMPENSATION
$132K
AGE
70
TENURE
0.7 yrs

Brent Beardall

TITLE
President
COMPENSATION
$2M
AGE
47
TENURE
2.2 yrs

Anna Johnson

TITLE
Independent Director
COMPENSATION
$124K
AGE
67
TENURE
24.4 yrs

Barbara Smith

TITLE
Independent Director
COMPENSATION
$127K
AGE
69
TENURE
13.4 yrs

Mark Tabbutt

TITLE
Independent Director
COMPENSATION
$130K
AGE
54
TENURE
8.3 yrs

Randy Talbot

TITLE
Director
COMPENSATION
$127K
AGE
65
TENURE
6.9 yrs

Dave Grant

TITLE
Independent Director
COMPENSATION
$124K
AGE
65
TENURE
6.8 yrs

S. Singh

TITLE
Independent Director
COMPENSATION
$3K
AGE
57
TENURE
0.8 yrs

Stephen Graham

TITLE
Independent Director
TENURE
0.2 yrs

W. Harris

TITLE
Director Emeritus
COMPENSATION
$20K
AGE
85
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Washington Federal's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Washington Federal has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

WAO News

Simply Wall St News

WAO Company Info

Description

Washington Federal, Inc. operates as the bank holding company for Washington Federal, National Association that provides lending, depository, insurance, and other banking services in the United States. The company accepts deposit products, including business and personal checking accounts, and term certificates of deposit, as well as money market accounts and passbook savings accounts. It also provides single-family residential, construction, land acquisition and development, land consumer lot, multi-family residential, commercial and industrial, commercial real estate, home equity, business, and consumer loans. In addition, the company offers insurance brokerage services, such as individual and business insurance policies to customers and general public; holds and markets real estate properties; and acts as trustee. It serves consumers, mid-sized and large businesses, and owners and developers of commercial real estate. As of September 30, 2018, the company had 235 branches located in Washington, Oregon, Idaho, Arizona, Utah, Nevada, New Mexico, and Texas. Washington Federal, Inc. was founded in 1917 and is headquartered in Seattle, Washington.

Details
Name: Washington Federal, Inc.
WAO
Exchange: DB
Founded: 1917
$2,371,247,954
80,442,401
Website: http://www.washingtonfederal.com
Address: Washington Federal, Inc.
425 Pike Street,
Seattle,
Washington, 98101,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS WAFD Common Stock Nasdaq Global Select US USD 09. Nov 1982
DB WAO Common Stock Deutsche Boerse AG DE EUR 09. Nov 1982
Number of employees
Current staff
Staff numbers
1,921
Washington Federal employees.
Industry
Thrifts and Mortgage Finance
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/16 21:32
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/05/07
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.