Walker & Dunlop, Inc. (WD) Stock Price & Analysis
Walker & Dunlop, Inc. (WD) closed at USD 34.68 on Thursday, October 22, 2026, up 5.44% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 32.89; the Oct 22, 2026 session ranged USD 33.15–35.05 on volume of 656,694 shares. Market capitalization is $1.19B, with a 52-week range of USD 31.4–90 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:01 UTC.
Also available as compact Markdown for AI agents: nexqual.com/WD.md
Key facts (WD)
- Last four reported quarters (through Jun 30, 2026): revenue $1.29B, net income $38.4M (3.0% margin) (SEC filings).
- Valuation: P/E 31.0x (avg 33.2x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 1.75 on a 1–5 scale) (4 analysts), mean target USD 48.33 (range 45–50).
- Total return with dividends: 1Y -57.6% vs S&P 500 +14.9%; 5Y -67.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.94, revenue estimate $308M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (WD)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.26B | $1.26B | $1.05B | $1.13B | $1.23B | $1.29B |
| Net income | $266M | $214M | $107M | $108M | $56.2M | $38.4M |
| EPS (diluted) | $8.15 | $6.36 | $3.18 | $3.19 | $1.64 | — |
| Free cash flow | $861M | $1.56B | -$16.7M | $116M | -$680M | -$131M |
| Net margin | 21.1% | 17.0% | 10.2% | 9.6% | 4.6% | 3.0% |
| Revenue growth | +16.2% | +0.0% | -16.2% | +7.4% | +9.0% | — |
| Cash + short-term investments | $306M | $226M | $329M | $279M | $299M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (WD)
P/E 31.0x · P/S 0.9x · P/B 0.7x · FCF yield -11.02% · Earnings yield 3.23% · Dividend yield (paid, TTM) 7.82% · Buyback yield (TTM) 1.73%
P/E at fiscal year-ends: Dec 2025 35.7x, Dec 2024 29.8x, Dec 2023 34.0x.
Analysts (WD)
Consensus Buy (mean 1.75 on a 1–5 scale), 4 analysts; mean target USD 48.33 (low 45, high 50).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Citizens | Target lowered | Market Outperform | $55 → $50 |
| 2026-10-09 | Keefe, Bruyette & Woods | Target lowered | Outperform | $57 → $45 |
| 2026-08-18 | Citizens | Target lowered | Market Outperform | $70 → $55 |
| 2026-08-07 | Keefe, Bruyette & Woods | Target lowered | Outperform | $63 → $57 |
Total return (dividends reinvested) (WD)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -57.6% | -67.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -57.7% | -20.2% |
| Volatility (annualized) | 46.2% | 38.4% |
| Max drawdown | -61.3% (Oct 2025→Oct 2026) | -74.7% (Nov 2021→Oct 2026) |
WD revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Capital Markets | $168.8M | 55.0% | -2.3% |
| Servicing & Asset Management | $133.6M | 43.6% | -5.1% |
| Corporate | $4.3M | 1.4% | -24.6% |
| Total revenue | $306.7M | 100% | — |
WD revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Servicing Fees | $86.7M | 28.3% | +3.6% |
| Fair Value Of Expected Future Cash Flows From Servicing Rights Net | $47.8M | 15.6% | -10.0% |
| Loan Origination & Debt Brokerage Fees Net | $37.3M | 12.2% | +18.6% |
| Escrow Earnings & Other Interest Income | $32.4M | 10.6% | -9.9% |
| Product & Service Other | $26.8M | 8.7% | -14.5% |
| Application Fees Subscription Revenues Other Revenues From Lihtc Operations & Other Revenues | $25.4M | 8.3% | +6.8% |
| Property Sales Broker Fees | $12.8M | 4.2% | -14.5% |
| Investment Management Fees | $6.9M | 2.3% | -8.8% |
| Net Warehouse Interest Income Expense Net | $369,000 | 0.1% | -121.0% |
| Total revenue | $306.7M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
WD suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | BLACKSTONE MORTGAGE TRUST, INC. (BXMT) | “Principal Lending and Investing—Through a joint venture with an affiliate of Blackstone Mortgage Trust, Inc., the Company offered short-term senior secured debt financing products that provided floating-rate, interest-only loans for terms of generally up to three years to experienced borrowers seeking to acquire or reposition multifamily properties that did not qualify for permanent financing (the "Interim Program…” |
Quoted from the company's 10-K filed Feb 26, 2026.
Companies that name WD in their SEC reports
| Relationship to WD | Company | Filing | Sentence |
|---|---|---|---|
| partner | BLACKSTONE MORTGAGE TRUST, INC. (BXMT) | 10-K Feb 11, 2026 | “In 2017, we entered into a joint venture with Walker & Dunlop Inc., or Walker & Dunlop, to originate, hold, and finance” |
WD customer concentration
In the period ended Dec 31, 2025, a single direct customer accounted for 36.9% of revenue, per the company's 10-K filed Feb 26, 2026. The company does not name it.
WD company outlook (results filed Aug 6, 2026)
- “We expect to fully exit the remaining assets in this portfolio by early next year, and any future credit-related losses will be driven by the difference between the ultimate selling prices relative to our current estimates. CAPITAL SOURCES AND USES On August 5, 2026, the Company's Board of Directors declared a dividend of $0.68 per share for the third quarter of 2026.”
Quoted word-for-word from the SEC 8-K results press release.
WD analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.94 | $1.40 | -33.1% | $308.0M | 3 |
| Next quarter (ends Dec 2026) | $1.18 | $1.22 | -3.6% | $351.4M | 3 |
| Current fiscal year (ends Dec 2026) | $4.33 | $4.60 | -5.8% | $1.27B | 4 |
| Next fiscal year (ends Dec 2027) | $5.24 | $5.83 | -10.1% | $1.39B | 4 |
Key Statistics (as of October 23, 2026 at 10:01 UTC)
| Price | USD 34.68 |
|---|---|
| Change | ▲ 5.44% (up) |
| Previous Close | USD 32.89 |
| Open | USD 33 |
| Day Range | USD 33.15 – 35.05 |
| 52-Week Range | USD 31.4 – 90 |
| Volume | 656,694 shares |
| Market Cap | $1.19B |
| Exchange | NYQ |
Technical Analysis (WD)
Nexqual's technical model rates WD "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 10:01 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 45.94 (neutral) |
| vs SMA50 | Below (USD 37.71) |
| MACD | -1.51 (negative) |
Analyst Ratings (WD)
Wall Street analysts rate WD "Buy" based on 4 analysts, with a mean price target of USD 48.33 (range USD 45–50), per Nexqual as of October 23, 2026 at 10:01 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 4 |
| Mean Target | USD 48.33 |
| High Target | USD 50 |
| Low Target | USD 45 |
| Buy / Hold / Sell | 3 / 1 / 0 |
Earnings (WD)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.94 |
| Revenue Estimate | $307.97M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 1.19 vs est 1.13 ▲ beat |
| 2026-03-31 | USD 1.02 vs est 0.54 ▲ beat |
| 2025-12-31 | USD 0.28 vs est 1.46 ▼ miss |
| 2025-09-30 | USD 1.22 vs est 1.25 ▼ miss |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
Financials & Fundamentals (WD)
| Total Revenue | $1.20B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -10.00% |
| Gross Margin | +100.00% |
| Operating Margin | +0.77% |
| Profit Margin | +3.28% |
| ROE | +2.36% |
| Debt / Equity | 1.36 |
| Current Ratio | 1.57 |
| Total Cash | $193.56M |
| Total Debt | $2.35B |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
Financial Health Score (WD)
Nexqual rates Walker & Dunlop, Inc.'s overall financial health "Weak" across five dimensions, as of October 23, 2026 at 10:01 UTC.
| Growth | Solid — Revenue +9% YoY (annual) |
|---|---|
| Profitability | Weak — Net margin 5% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: Finance Services) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: Finance Services) |
| Efficiency | Weak — ROE 2%, ROA 0.9% |
Ownership (WD)
| Insider Ownership | +4.03% |
|---|---|
| Institutional Ownership | +85.72% |
| Shares Outstanding | 34.33M |
| Float | 32.94M |
| Short % of Float | +6.82% |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
Leadership (WD)
Walker & Dunlop, Inc. is led by William Mallory Walker, Chairman, President & CEO, per Nexqual as of October 23, 2026 at 10:01 UTC.
| Chairman, President & CEO | William Mallory Walker |
|---|---|
| Executive VP & CFO | Gregory A. Florkowski |
| Executive VP & COO | Stephen P. Theobald |
| Senior Vice President of Technology | Jack Balaban |
| Executive Vice President of Special Asset Management | Aaron J. Perlis |
Major Backers & Investors (WD)
Notable institutional backers of Walker & Dunlop, Inc. include Alliancebernstein L.P., T. Rowe Price, Jupiter Topco LLC, according to Nexqual as of October 23, 2026 at 10:01 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Alliancebernstein L.P. | 3.82% |
| T. Rowe Price | 3.73% |
| Jupiter Topco LLC | 3.38% |
| Royce & Associates LP | 1.97% |
| JANUS INVESTMENT FUND-Janus Henderson Triton Fund | 1.86% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 15.42% |
| Vanguard Group | 10.42% |
| State Street | 4.73% |
| Dimensional Fund Advisors | 4.25% |
| Geode Capital | 2.54% |
Source: Nexqual, October 23, 2026 at 10:01 UTC.
From Walker & Dunlop, Inc.'s Latest SEC 10-K Filing (filed 2026-02-26)
Key Strengths & Strategy (as disclosed to the SEC)
- Apprise leverages technology and data science to dramatically improve the consistency, transparency, and speed of multifamily property appraisals in the U.S. through our proprietary technology and provides appraisal services to a client list that includes many national commercial real estate lenders.
- We are one of the largest service providers to multifamily operators in the country.
- Through investments in people, brand, and technology, we have built a diversified suite of commercial real estate services to meet the needs of our customers.
- We are a leader in commercial real estate technology through developing and acquiring technology resources that (i) provide innovative solutions and a better experience for our customers, (ii) allow us to drive efficiencies across our internal processes, and (iii) allow us to accelerate the growth of our small-balance lending business and our appraisal platform, Apprise by Walker & Dunlop ("Apprise").
Partnerships
- Our full risk-sharing is currently limited to loans up to $400 million, which equates to a maximum loss per loan of $80 million (such exposure would occur in the event that the underlying collateral is determined to be completely without value at the time of loss).
- Our affordable housing investment management team works with our developer clients to identify properties that will generate LIHTCs and meet our affordable investors' needs, and forms limited partnership funds ("LIHTC funds") with third-party investors that invest in the limited partnership interests in these properties and earns a syndication fee for these services.
Legal & Regulatory Risks (Item 1A, quoted)
- Risks Relating to Regulatory Matters
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
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| UWMC | UWM Holdings Corporation | USD 1.15 | ▲ 3.6% |
| VEL | Velocity Financial, Inc. | USD 15.21 | ▲ 2.42% |
| PFSI | PennyMac Financial Services, In | USD 63.36 | ▲ 6.43% |
| BETR | Better Home & Finance Holding C | USD 16.58 | ▲ 6.42% |
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:01 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt