WEST BANCORPORATION (WTBA) Fundamental Analysis & Valuation

NASDAQ:WTBA • US95123P1066

23.67 USD
-0.26 (-1.09%)
At close: Mar 9, 2026
23.67 USD
0 (0%)
After Hours: 3/9/2026, 4:21:10 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership News

This WTBA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to WTBA. WTBA was compared to 381 industry peers in the Banks industry. While WTBA is still in line with the averages on profitability rating, there are concerns on its financial health. WTBA is not valued too expensively and it also shows a decent growth rate. Finally WTBA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

4

1. WTBA Profitability Analysis

1.1 Basic Checks

  • WTBA had positive earnings in the past year.
  • WTBA had a positive operating cash flow in the past year.
  • In the past 5 years WTBA has always been profitable.
  • Each year in the past 5 years WTBA had a positive operating cash flow.
WTBA Yearly Net Income VS EBIT VS OCF VS FCFWTBA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M 40M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 0.79%, WTBA is doing worse than 63.25% of the companies in the same industry.
  • WTBA has a Return On Equity of 12.24%. This is amongst the best in the industry. WTBA outperforms 81.10% of its industry peers.
Industry RankSector Rank
ROA 0.79%
ROE 12.24%
ROIC N/A
ROA(3y)0.67%
ROA(5y)0.94%
ROE(3y)11.17%
ROE(5y)14.91%
ROIC(3y)N/A
ROIC(5y)N/A
WTBA Yearly ROA, ROE, ROICWTBA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • WTBA has a better Profit Margin (34.19%) than 88.98% of its industry peers.
  • WTBA's Profit Margin has been stable in the last couple of years.
  • The Operating Margin and Gross Margin are not available for WTBA so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) 34.19%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-9.11%
PM growth 5Y-0.69%
GM growth 3YN/A
GM growth 5YN/A
WTBA Yearly Profit, Operating, Gross MarginsWTBA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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2

2. WTBA Health Analysis

2.1 Basic Checks

  • WTBA does not have a ROIC to compare to the WACC, probably because it is not profitable.
  • The number of shares outstanding for WTBA has been increased compared to 1 year ago.
  • The number of shares outstanding for WTBA has been increased compared to 5 years ago.
  • Compared to 1 year ago, WTBA has an improved debt to assets ratio.
WTBA Yearly Shares OutstandingWTBA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5M 10M 15M
WTBA Yearly Total Debt VS Total AssetsWTBA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

2.2 Solvency

  • WTBA has a debt to FCF ratio of 2.47. This is a good value and a sign of high solvency as WTBA would need 2.47 years to pay back of all of its debts.
  • WTBA's Debt to FCF ratio of 2.47 is in line compared to the rest of the industry. WTBA outperforms 43.04% of its industry peers.
  • A Debt/Equity ratio of 0.40 indicates that WTBA is not too dependend on debt financing.
  • The Debt to Equity ratio of WTBA (0.40) is worse than 73.23% of its industry peers.
  • Although WTBA's pure debt/equity ratio does not look good, it has limited outstanding debt compared to the Free Cash Flow. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 2.47
Altman-Z N/A
ROIC/WACCN/A
WACC16.35%
WTBA Yearly LT Debt VS Equity VS FCFWTBA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 50M 100M 150M 200M 250M

2.3 Liquidity

Industry RankSector Rank
Current Ratio N/A
Quick Ratio N/A
WTBA Yearly Current Assets VS Current LiabilitesWTBA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M 200M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. WTBA Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 27.33% over the past year.
  • Measured over the past years, WTBA shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.72% on average per year.
  • WTBA shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.36%.
  • Measured over the past years, WTBA shows a small growth in Revenue. The Revenue has been growing by 0.61% on average per year.
EPS 1Y (TTM)27.33%
EPS 3Y-11.44%
EPS 5Y-0.72%
EPS Q2Q%-12.24%
Revenue 1Y (TTM)19.36%
Revenue growth 3Y-2.23%
Revenue growth 5Y0.61%
Sales Q2Q%1.8%

3.2 Future

  • Based on estimates for the next years, WTBA will show a very strong growth in Earnings Per Share. The EPS will grow by 23.41% on average per year.
  • WTBA is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.97% yearly.
EPS Next Y36.39%
EPS Next 2Y23.41%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year16.9%
Revenue Next 2Y12.97%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
WTBA Yearly Revenue VS EstimatesWTBA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 20M 40M 60M 80M 100M
WTBA Yearly EPS VS EstimatesWTBA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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6

4. WTBA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 12.39, the valuation of WTBA can be described as correct.
  • WTBA's Price/Earnings is on the same level as the industry average.
  • When comparing the Price/Earnings ratio of WTBA to the average of the S&P500 Index (26.29), we can say WTBA is valued rather cheaply.
  • WTBA is valuated reasonably with a Price/Forward Earnings ratio of 9.09.
  • WTBA's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. WTBA is cheaper than 70.08% of the companies in the same industry.
  • WTBA's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 24.60.
Industry RankSector Rank
PE 12.39
Fwd PE 9.09
WTBA Price Earnings VS Forward Price EarningsWTBA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • 71.39% of the companies in the same industry are more expensive than WTBA, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 9.29
EV/EBITDA N/A
WTBA Per share dataWTBA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10 15

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • WTBA's earnings are expected to grow with 23.41% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.34
PEG (5Y)N/A
EPS Next 2Y23.41%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

8

5. WTBA Dividend Analysis

5.1 Amount

  • WTBA has a Yearly Dividend Yield of 4.51%, which is a nice return.
  • Compared to an average industry Dividend Yield of 2.86, WTBA pays a better dividend. On top of this WTBA pays more dividend than 86.61% of the companies listed in the same industry.
  • WTBA's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 4.51%

5.2 History

  • The dividend of WTBA has a limited annual growth rate of 3.58%.
  • WTBA has been paying a dividend for at least 10 years, so it has a reliable track record.
  • WTBA has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)3.58%
Div Incr Years0
Div Non Decr Years13
WTBA Yearly Dividends per shareWTBA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.2 0.4 0.6 0.8

5.3 Sustainability

  • WTBA pays out 51.95% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of WTBA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP51.95%
EPS Next 2Y23.41%
EPS Next 3YN/A
WTBA Yearly Income VS Free CF VS DividendWTBA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20M 40M
WTBA Dividend Payout.WTBA Dividend Payout, showing the Payout Ratio.WTBA Dividend Payout.PayoutRetained Earnings

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WTBA Fundamentals: All Metrics, Ratios and Statistics

WEST BANCORPORATION

NASDAQ:WTBA (3/9/2026, 4:21:10 PM)

After market: 23.67 0 (0%)

23.67

-0.26 (-1.09%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)01-29
Earnings (Next)04-22
Inst Owners47.62%
Inst Owner Change3.12%
Ins Owners4.44%
Ins Owner Change4.63%
Market Cap400.97M
Revenue(TTM)95.25M
Net Income(TTM)32.56M
Analysts43.33
Price Target26.52 (12.04%)
Short Float %2.34%
Short Ratio8.94
Dividend
Industry RankSector Rank
Dividend Yield 4.51%
Yearly Dividend1
Dividend Growth(5Y)3.58%
DP51.95%
Div Incr Years0
Div Non Decr Years13
Ex-Date02-11
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-4.91%
Min EPS beat(2)-25.78%
Max EPS beat(2)15.96%
EPS beat(4)3
Avg EPS beat(4)2.76%
Min EPS beat(4)-25.78%
Max EPS beat(4)18.68%
EPS beat(8)6
Avg EPS beat(8)7.98%
EPS beat(12)9
Avg EPS beat(12)6.72%
EPS beat(16)12
Avg EPS beat(16)5.54%
Revenue beat(2)1
Avg Revenue beat(2)-10.38%
Min Revenue beat(2)-22.06%
Max Revenue beat(2)1.3%
Revenue beat(4)2
Avg Revenue beat(4)-4.14%
Min Revenue beat(4)-22.06%
Max Revenue beat(4)4.79%
Revenue beat(8)2
Avg Revenue beat(8)-2.89%
Revenue beat(12)2
Avg Revenue beat(12)-3.05%
Revenue beat(16)2
Avg Revenue beat(16)-3.18%
PT rev (1m)0%
PT rev (3m)8.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)6.55%
EPS NY rev (1m)0%
EPS NY rev (3m)6.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)7.97%
Revenue NY rev (1m)0%
Revenue NY rev (3m)7.85%
Valuation
Industry RankSector Rank
PE 12.39
Fwd PE 9.09
P/S 4.21
P/FCF 9.29
P/OCF 8.63
P/B 1.51
P/tB 1.51
EV/EBITDA N/A
EPS(TTM)1.91
EY8.07%
EPS(NY)2.61
Fwd EY11.01%
FCF(TTM)2.55
FCFY10.76%
OCF(TTM)2.74
OCFY11.59%
SpS5.62
BVpS15.7
TBVpS15.7
PEG (NY)0.34
PEG (5Y)N/A
Graham Number25.98
Profitability
Industry RankSector Rank
ROA 0.79%
ROE 12.24%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 34.19%
GM N/A
FCFM 45.31%
ROA(3y)0.67%
ROA(5y)0.94%
ROE(3y)11.17%
ROE(5y)14.91%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-9.11%
PM growth 5Y-0.69%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF 2.47
Debt/EBITDA N/A
Cap/Depr 73.65%
Cap/Sales 3.49%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 132.53%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC16.35%
ROIC/WACCN/A
Cap/Depr(3y)912.06%
Cap/Depr(5y)947.9%
Cap/Sales(3y)27.42%
Cap/Sales(5y)22.3%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)27.33%
EPS 3Y-11.44%
EPS 5Y-0.72%
EPS Q2Q%-12.24%
EPS Next Y36.39%
EPS Next 2Y23.41%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)19.36%
Revenue growth 3Y-2.23%
Revenue growth 5Y0.61%
Sales Q2Q%1.8%
Revenue Next Year16.9%
Revenue Next 2Y12.97%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1YN/A
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y215.63%
FCF growth 3Y4.21%
FCF growth 5Y1.54%
OCF growth 1Y16.76%
OCF growth 3Y-7.87%
OCF growth 5Y1.91%

WEST BANCORPORATION / WTBA FAQ

Can you provide the ChartMill fundamental rating for WEST BANCORPORATION?

ChartMill assigns a fundamental rating of 4 / 10 to WTBA.


What is the valuation status for WTBA stock?

ChartMill assigns a valuation rating of 6 / 10 to WEST BANCORPORATION (WTBA). This can be considered as Fairly Valued.


Can you provide the profitability details for WEST BANCORPORATION?

WEST BANCORPORATION (WTBA) has a profitability rating of 4 / 10.


Can you provide the PE and PB ratios for WTBA stock?

The Price/Earnings (PE) ratio for WEST BANCORPORATION (WTBA) is 12.39 and the Price/Book (PB) ratio is 1.51.


Is the dividend of WEST BANCORPORATION sustainable?

The dividend rating of WEST BANCORPORATION (WTBA) is 8 / 10 and the dividend payout ratio is 51.95%.