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Walker & Dunlop, Inc. (WD) stock

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NYSE: WD NYSE Commercial & Residential Mortgage Finance Next results ~November 5, 2026

D Fundamentals grade

Walker & Dunlop, Inc. is a US-listed company in the commercial & residential mortgage finance industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$50

Valuation models combined (4)

Base case. Range ~$44–$55. Weighted average of 4 models (forward price-to-earnings vs peers, residual income, justified price-to-book, dividend discount (two-stage)), the forward price-to-earnings vs peers counting double.

Price vs value

Undervalued

The price is below our entire value range; our base value is 38% above it.

Price used: $35.76, November 2, 2026

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 0 selling4 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds155 adding, 97 cuttingOf 41 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Walker & Dunlop files

Where Walker & Dunlop stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.29bn, up 8.0% on a year earlier, slower than the 13.7% growth a quarter earlier. Our cash-flow model value is $53.47 a share, against a share price of $34.27.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Walker & Dunlop, Inc.'s trailing-twelve-month revenue grew 8.0% year on year, with a free-cash-flow margin of -10.2%.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 35.3% while net income fell 65.2%: a 100pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

  • Priced below our value. The share price of $35.76 is 38% below our value per share of $50.
  • Net cash. Cash exceeds long-term debt by $0.2bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 5.7 points lower than a quarter earlier.
  • Margins narrowing. Operating margin is down 7.2 points on a year ago.
  • Burning cash. Free cash flow was -10.2% of revenue over the last 12 months.
  • Weak cash conversion. Free cash flow was -342% of net income over the last 12 months.
  • Short interest rising. Shares sold short rose 22% in a month to 6.8% of tradable shares.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$1.19 against an average estimate of $1.13: beat by 5.1%
Revenue
$307m, down 3.9% on a year earlier
Share reaction
-13.5% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.94

Walker & Dunlop's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.8%
  • 1 week+4.6%
  • 1 month+5.3%
  • This year-37.8%
  • 1 year-52.7%
  • 5 years-68.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.3B
Net margin
3.0%
EPS (TTM, diluted)
$1.15

Growth

Revenue growth
+8.0%
Change in growth rate
−5.7 pts
Share count change
+0.3%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Agreement
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Announcement
  9. Announcement
  10. Leadership
  11. Announcement
  12. Announcement
  13. Agreement
  14. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$50
Price used
$35.23close November 3, 2026
Implied change
▲ +41%
Uncertainty
Low

How we got here: the combined value of 4 valuation models built for a business like Walker & Dunlop, Inc. (see the models table below and how they are combined) , with a 8.88% cost of equity. The models span ~$44–~$55; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Walker & Dunlop, Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$55 ~$43–$89 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$47 ~$35–$64 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$44 ~$38–$53 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$2.6 ~$42–$210 Left out: out of range vs price (0.07x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$46 ~$40–$56 Included
Combined value Weighted average of the models that apply: the primary model (forward price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$50 ~$44–$55 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Walker & Dunlop, Inc. with asset managers, brokers and exchanges in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

64 /100

Moderate moat

How hard Walker & Dunlop's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 5.2% of total assets over 10 years.

  • Durability 8 / 20

    Net margin has been a median 20.5%; its worst year was 3.0%.

  • Discipline 13 / 20

    The diluted share count rose 6.8% over five years; stock-based pay has been a median 2.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (69 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, before the open. Analysts expect revenue of $308m and EPS of $0.94 (range $0.79 to $1.07) for the quarter.

Analysts' consensus

Walker & Dunlop, Inc.: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current $4.33 +24% $1.3bn +3%
Next $5.24 +21% $1.4bn +10%

Next year's EPS estimate has moved −10.1% in 90 days, across 4 analysts.

Earnings against estimates

Walker & Dunlop, Inc.: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Jun 2026 $1.13 $1.19 +5.1%
Mar 2026 $0.54 $1.02 +89.8%
Dec 2025 $1.46 $0.28 −80.8%
Sept 2025 $1.25 $1.22 −2.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Oct 2026
Buy375%
Hold125%
Sell00%

Monthly trend

  1. Oct 20262114
  2. Sep 20262114
  3. Aug 20262114

Counts of recommendations published by analysts covering Walker & Dunlop, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.8%
of tradable shares
Days to cover
3.86
at average volume
Short interest, 1 month
+22%
to September 30, 2026
Held by institutions
85%
of shares
Held by insiders
4.0%
of shares
Employees
1,466
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −52.7%

$75.56 on October 31, 2025 to $35.76

Walker & Dunlop, Inc.: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $1.2bn $1.3bn +8.0%
Net margin 9.3% 3.0% −67.8%
P/E multiple 22.8x 31.1x +36.3%
Share count 33m 33m −0.3%

Biggest factor: net margin.

Last 3 years −47.8%

$68.49 on November 3, 2023 to $35.76

Walker & Dunlop, Inc.: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $1.1bn $1.3bn +15.8%
Net margin 12.9% 3.0% −76.7%
P/E multiple 15.7x 31.1x +97.4%
Share count 33m 33m −1.8%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Walker & Dunlop, Inc.: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
WD+67%−47%+46%−10%−36%−38%
Industry peers (median)+5%−11%+11%+7%+6%+2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
WD75%33%50%58%25%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
WD−15%−49%−37%−19%−36%−50%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 76% from November 23, 2021 to October 19, 2026. Getting back needed a 316% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$31.67 – $75.92
From 52-week high
−52.9%
vs 50-day average
−2.9%
vs 200-day average
−23.4%
Volatility (1 year)
45%
Beta vs S&P 500
0.99

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±6.4%
After a week
5 up, 7 down
typical move ±8.9%
After a month
4 up, 8 down
typical move ±11.9%
Walker & Dunlop, Inc.: share-price change after each results release
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −13.5% +0.5% −16.8% −15.7%
May 7, 2026 +2.7% +0.5% −0.4% −1.2%
February 26, 2026 −21.9% −1.0% −14.3% −25.8%
November 6, 2025 −13.3% −1.0% −18.0% −20.5%
August 7, 2025 +7.0% +0.7% +11.7% +15.2%
May 1, 2025 −3.1% +2.2% −6.5% −11.7%
February 13, 2025 −5.0% +1.1% −8.6% −2.5%
November 7, 2024 −0.9% +1.2% −4.7% −4.5%
August 8, 2024 +3.2% +2.8% +4.0% +4.6%
May 2, 2024 +2.7% +2.2% +5.5% +2.7%
February 15, 2024 +2.9% +0.2% +2.9% −4.7%
November 9, 2023 −1.0% +0.8% +13.8% +33.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Walker & Dunlop, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Walker & Dunlop, Inc. in five measures

Fundamentals grade D
Growth Profitability Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Walker & Dunlop, Inc.
$1B $1.1B $1.2B $1.3B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.1B Revenue (TTM), FY23 Q4: $1.1B Revenue (TTM), FY24 Q1: $1B Revenue (TTM), FY24 Q2: $1B Revenue (TTM), FY24 Q3: $1.1B Revenue (TTM), FY24 Q4: $1.1B Revenue (TTM), FY25 Q1: $1.1B Revenue (TTM), FY25 Q2: $1.2B Revenue (TTM), FY25 Q3: $1.2B Revenue (TTM), FY25 Q4: $1.2B Revenue (TTM), FY26 Q1: $1.3B Revenue (TTM), FY26 Q2: $1.3B $1.3B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.1B
FY23 Q4 $1.1B
FY24 Q1 $1B
FY24 Q2 $1B
FY24 Q3 $1.1B
FY24 Q4 $1.1B
FY25 Q1 $1.1B
FY25 Q2 $1.2B
FY25 Q3 $1.2B
FY25 Q4 $1.2B
FY26 Q1 $1.3B
FY26 Q2 $1.3B
Revenue growth, TTM YoY Walker & Dunlop, Inc.
-30% -20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -23.1% Revenue growth, TTM YoY, FY23 Q4: -16.2% Revenue growth, TTM YoY, FY24 Q1: -11.4% Revenue growth, TTM YoY, FY24 Q2: -6.1% Revenue growth, TTM YoY, FY24 Q3: 0.2% Revenue growth, TTM YoY, FY24 Q4: 7.4% Revenue growth, TTM YoY, FY25 Q1: 9.4% Revenue growth, TTM YoY, FY25 Q2: 14.3% Revenue growth, TTM YoY, FY25 Q3: 16.0% Revenue growth, TTM YoY, FY25 Q4: 9.0% Revenue growth, TTM YoY, FY26 Q1: 13.7% Revenue growth, TTM YoY, FY26 Q2: 8.0% 8.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -23.1%
FY23 Q4 -16.2%
FY24 Q1 -11.4%
FY24 Q2 -6.1%
FY24 Q3 0.2%
FY24 Q4 7.4%
FY25 Q1 9.4%
FY25 Q2 14.3%
FY25 Q3 16.0%
FY25 Q4 9.0%
FY26 Q1 13.7%
FY26 Q2 8.0%
Operating margin (TTM) Walker & Dunlop, Inc.
20% 25% 30% 35% 40% FY11 Q1 FY11 Q3 FY12 Q1 FY12 Q3 FY13 Q1 FY13 Q3 Operating margin (TTM), FY11 Q1: 34.2% Operating margin (TTM), FY11 Q2: 36.1% Operating margin (TTM), FY11 Q3: 35.0% Operating margin (TTM), FY11 Q4: 37.2% Operating margin (TTM), FY12 Q1: 35.0% Operating margin (TTM), FY12 Q2: 32.2% Operating margin (TTM), FY12 Q3: 27.3% Operating margin (TTM), FY12 Q4: 21.7% Operating margin (TTM), FY13 Q1: 20.1% Operating margin (TTM), FY13 Q2: 20.1% Operating margin (TTM), FY13 Q3: 20.1% 20.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY11 Q1 34.2%
FY11 Q2 36.1%
FY11 Q3 35.0%
FY11 Q4 37.2%
FY12 Q1 35.0%
FY12 Q2 32.2%
FY12 Q3 27.3%
FY12 Q4 21.7%
FY13 Q1 20.1%
FY13 Q2 20.1%
FY13 Q3 20.1%
FCF margin (TTM) Walker & Dunlop, Inc.
-200% -100% 0% 100% 200% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 160.0% FCF margin (TTM), FY23 Q4: -1.6% FCF margin (TTM), FY24 Q1: 54.4% FCF margin (TTM), FY24 Q2: 64.1% FCF margin (TTM), FY24 Q3: -7.6% FCF margin (TTM), FY24 Q4: 10.3% FCF margin (TTM), FY25 Q1: -17.8% FCF margin (TTM), FY25 Q2: -17.0% FCF margin (TTM), FY25 Q3: -76.8% FCF margin (TTM), FY25 Q4: -55.1% FCF margin (TTM), FY26 Q1: -118.7% FCF margin (TTM), FY26 Q2: -10.2% -10.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 160.0%
FY23 Q4 -1.6%
FY24 Q1 54.4%
FY24 Q2 64.1%
FY24 Q3 -7.6%
FY24 Q4 10.3%
FY25 Q1 -17.8%
FY25 Q2 -17.0%
FY25 Q3 -76.8%
FY25 Q4 -55.1%
FY26 Q1 -118.7%
FY26 Q2 -10.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Walker & Dunlop, Inc.: annual financial statements
Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 89 122 152 257 319 361 468 575 712 725 817 1,084 1,259 1,259 1,054 1,132 1,234 1,286
EBITDA 42 57 79 — — — — — — — — — — — — — — —
Operating income 29 40 57 — — — — — — — — — — — — — — —
Net income 40 8 35 34 42 51 82 114 211 161 173 246 266 214 107 108 56 38
Diluted EPS $2.76 $0.55 $1.60 $1.31 $1.21 $1.58 $2.65 $3.57 $6.47 $4.96 $5.45 $7.69 $8.15 $6.36 $3.18 $3.19 $1.64 $1.15
Growth (year on year)
Revenue — +37.3% +25.0% +68.5% +24.3% +13.1% +29.8% +22.9% +23.7% +1.9% +12.7% +32.6% +16.2% −0.0% −16.2% +7.4% +9.0% +8.0%
EBITDA — +37.5% +38.7% — — — — — — — — — — — — — — —
Operating income — +40.3% +41.2% — — — — — — — — — — — — — — —
Net income — −79.2% +323.8% −3.1% +23.0% +23.8% +59.7% +38.7% +85.4% −23.5% +7.4% +42.0% +8.0% −19.5% −49.8% +0.8% −48.0% −65.2%
Diluted EPS — −80.1% +190.9% −18.1% −7.6% +30.6% +67.7% +34.7% +81.2% −23.3% +9.9% +41.1% +6.0% −22.0% −50.0% +0.3% −48.6% −65.3%
Margins
EBITDA margin 46.8% 46.9% 52.0% — — — — — — — — — — — — — — —
Operating margin 32.2% 32.9% 37.2% — — — — — — — — — — — — — — —
Net margin 44.5% 6.8% 22.9% 13.2% 13.0% 14.3% 17.5% 19.8% 29.7% 22.3% 21.2% 22.7% 21.1% 17.0% 10.2% 9.6% 4.6% 3.0%
Free-cash-flow margin 22.8% −141.1% 35.6% −328.6% 260.9% −195.6% −286.2% 131.6% 149.2% 8.2% 51.7% −130.5% 68.4% 124.0% −1.6% 10.3% −55.1% −10.2%
Cash flow
Cash from operations 20 −171 58 −839 837 −703 −1,339 759 1,068 64 428 −1,411 870 1,583 −1 129 −664 −119
Capital spending 0 1 4 5 5 3 1 2 5 5 5 3 9 22 16 13 16 12
Free cash flow 20 −172 54 −844 832 −706 −1,340 757 1,062 59 423 −1,414 861 1,561 −17 116 −680 −131
Stock-based pay — 0 2 5 9 10 14 18 21 24 24 28 37 34 28 27 27 —
Free cash flow after stock pay — −172 52 −849 823 −716 −1,354 739 1,041 35 399 −1,443 825 1,527 −45 89 −707 —
Balance sheet
Cash 10 33 54 65 171 113 137 119 191 90 121 321 306 226 329 279 299 161
Total debt 0 0 0 1,165 548 1,389 — 2,159 1,106 1,463 1,205 2,813 2,688 1,138 1,400 1,371 2,293 2,293
Net debt (negative = net cash) −10 −33 −54 1,100 378 1,276 −137 2,041 915 1,373 1,084 2,492 2,382 912 1,072 1,092 1,994 2,132
Diluted shares 14m 15m 22m 26m 34m 33m 31m 31m 31m 31m 31m 31m 32m 33m 33m 33m 33m 33m
Returned to shareholders
Dividends — — — — — — — — — 31 37 45 64 80 85 89 92 93
Buybacks — — 0 1 3 38 50 13 35 69 31 46 19 42 21 12 10 21
Total returned — — 0 1 3 38 50 13 35 100 68 91 83 123 105 101 102 114

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$20.6M
Dividends (TTM)
$93.1M
Returned to shareholders
-87%
of free cash flow
Buybacks, last 3 fiscal years
$43.3M
Diluted share count
+0.3%
year over year
Total shareholder yield
9.6%
dividends 7.8% + buybacks 1.7% of market value
Dividend payout ratio
242%
of net income paid out

Competitors: side by side with peers

Closest by revenue in commercial & residential mortgage finance
Growth, margins and cash generation against peers
Last 12 months unless stated WD LDI ACT MTG ONIT RDN Median
Revenue, last 12 months $1.3bn $1.3bn $1.3bn $1.2bn $1.1bn $1.6bn $1.2bn
Revenue growth, last 12 months 8.0% 11.4% 2.5% −1.9% 16.3% 37.1% 11.0%
Revenue growth, 3-year average 5.0% 10.8% 4.1% 1.0% 3.5% 10.8% 10.8%
Revenue growth, latest quarter −3.9% 19.4% 4.1% −2.9% 14.7% 92.6% 11.7%
Operating margin 20.1% — — — 3.6% 47.5% 3.6%
Operating margin, 3-year average 27.5% — — — 32.0% −12.9% 27.5%
Net margin 3.0% −5.5% 54.5% 59.2% 12.3% 32.6% 15.0%
Cash from operations / revenue −9.3% −20.0% 57.5% 59.2% −183.6% 84.7% 20.0%
Free-cash-flow margin −10.2% −22.5% — 59.1% −183.9% 84.5% 10.1%
Free-cash-flow margin, 3-year average 12.3% −41.4% — 61.0% −84.0% 1.3% 1.3%
Stock pay / revenue 2.8% 1.6% 1.6% 2.0% 0.7% — 1.9%
Change in share count 0.3% 47.7% −6.3% −11.5% 4.9% −6.8% −0.1%

Median of all 14 companies we cover in commercial & residential mortgage finance. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

14 commercial & residential mortgage finance companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth 8.0% 11.4% 9 of 14
Change in growth rate Growth -5.7pp +0.2pp 11 of 14
Net margin Profitability 3.0% 17.7% 10 of 14
Change in share count Balance sheet 0.3% 0.1% 7 of 10

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Loan Origination and Debt Brokerage Fees Net $342M ▲ 23.7%
Servicing Fees $337M ▲ 3.6%
Fair Value of Expected Future Cash Flows From Servicing Rights Net $180M ▲ 17.0%
Escrow Earnings and Other Interest Income $153M ▼ 9.2%
Loan Origination Fees $126M ▲ 26.1%
Other $110M ▼ 7.1%
Property Sales Broker Fees $83.5M ▲ 37.9%
Application Fees Subscription Revenues Other Revenues From Lihtc Operations and Other Revenues $75.9M ▲ 11.6%
Investment Management Fees $34.6M ▼ 6.3%
Asset Management1 $26.2M ▲ 21.3%
Net Warehouse Interest Income Expense Net -$5.5M —

These categories overlap or exclude eliminations, so shares aren't shown.

From Walker & Dunlop, Inc.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Reported value
$1.6B
Institutions reporting
266
Shares held vs prior quarter
▲ 3.9%
Positions opened / closed
47 / 37

Top buyers and sellers, Q2 2026: 155 institutions bought and 97 sold ; the biggest buyer was Jpmorgan Chase & Co (+480K shares) and the biggest seller Conversant Capital LLC (−560K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $290M 5.3M 18.0% ▲ 3.1%
Vanguard Portfolio Management LLC $114M 2.1M 7.1% ▲ 2.1%
State Street Corp $88.7M 1.6M 5.5% ▲ 4.9%
Vanguard Capital Management LLC $81.7M 1.5M 5.1% ▲ 1.1%
Dimensional Fund Advisors LP $79.8M 1.5M 4.9% ▲ 6.5%
T. Rowe Price Investment Management, Inc. $70M 1.3M 4.3% ▲ 8.3%
Jupiter Topco LLC $63.4M 1.2M 3.9% —
Alliancebernstein L.P. $58.2M 1.3M 3.6% ▼ 3.4%
Geode Capital Management, LLC $47.7M 872K 3.0% ▲ 5.8%
Deprince Race & Zollo Inc $38.6M 706K 2.4% ▼ 3.1%
Royce & Associates LP $37M 677K 2.3% ▲ 9.0%
AQR Capital Management LLC $36.7M 671K 2.3% ▲ 180.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Walker & Dunlop, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Schmaltz Dana L Director March 18, 2026 Buy 1,000 $45.78 $45,780
Freedman Ernest Michael Director March 5, 2026 Buy 5,000 $49.21 $246,050
Wells Donna Director March 3, 2026 Buy 500 $46.96 $23,480
Walker William M Chairman & CEO March 2, 2026 Buy 10,000 $47.46 $474,600

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Walker & Dunlop, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Walker & Dunlop, Inc. in brief

What does Walker & Dunlop, Inc. do?
Walker & Dunlop, Inc. is a US-listed company in the commercial & residential mortgage finance industry. Its financial year ends in December.
What is Walker & Dunlop, Inc.'s stock ticker?
Walker & Dunlop, Inc. trades under the ticker WD on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Walker & Dunlop, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Walker & Dunlop, Inc. reported revenue of $1.3B, 8.0% higher than a year earlier, according to its SEC filings.
What is Walker & Dunlop, Inc.'s free cash flow?
Walker & Dunlop, Inc.'s free-cash-flow margin is -10.2% of revenue over the trailing twelve months.
Who are Walker & Dunlop, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Walker & Dunlop, Inc. buying back stock, and does it pay a dividend?
Walker & Dunlop, Inc. spent $20.6M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.3% over the year.
What is Walker & Dunlop, Inc.'s market cap?
On November 2, 2026, Walker & Dunlop, Inc.'s market capitalisation was about $1.2B, with a price-to-earnings ratio of 31.1 and net debt of $2.1B. Market figures come from third-party market data and may be delayed.
Does Walker & Dunlop, Inc. pay a dividend?
Yes: Walker & Dunlop, Inc. paid $93.1M in dividends over the trailing twelve months, a dividend yield of 7.83% and a payout ratio of 242.3%.
Who are Walker & Dunlop, Inc.'s competitors?
In our Commercial & Residential Mortgage Finance peer group, the companies closest to Walker & Dunlop, Inc. are Loandepot, Inc., Enact Holdings, Inc., Mgic Investment Corp, Onity Group Inc. and Radian Group Inc. The side-by-side comparison below sets their revenue, margins and growth against Walker & Dunlop, Inc.'s.
Are insiders buying or selling Walker & Dunlop, Inc. stock?
Over the last 12 months, Walker & Dunlop, Inc.'s directors and officers reported 4 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Walker & Dunlop, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Walker & Dunlop, Inc. announces its own schedule.