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WEST BANCORPORATION (WTBA) Stock Fundamental Analysis

NASDAQ:WTBA - Nasdaq - US95123P1066 - Common Stock - Currency: USD

19.62  -0.38 (-1.9%)

After market: 19.62 0 (0%)

Fundamental Rating

4

Overall WTBA gets a fundamental rating of 4 out of 10. We evaluated WTBA against 396 industry peers in the Banks industry. Both the profitability and financial health of WTBA have multiple concerns. WTBA has a correct valuation and a medium growth rate. WTBA also has an excellent dividend rating.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

In the past year WTBA was profitable.
In the past year WTBA had a positive cash flow from operations.
WTBA had positive earnings in each of the past 5 years.
WTBA had a positive operating cash flow in each of the past 5 years.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M

1.2 Ratios

WTBA has a worse Return On Assets (0.65%) than 64.97% of its industry peers.
The Return On Equity of WTBA (10.97%) is better than 77.67% of its industry peers.
Industry RankSector Rank
ROA 0.65%
ROE 10.97%
ROIC N/A
ROA(3y)0.84%
ROA(5y)0.99%
ROE(3y)14.42%
ROE(5y)15.39%
ROIC(3y)N/A
ROIC(5y)N/A
WTBA Yearly ROA, ROE, ROICWTBA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

WTBA has a Profit Margin of 31.11%. This is amongst the best in the industry. WTBA outperforms 83.76% of its industry peers.
In the last couple of years the Profit Margin of WTBA has declined.
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) 31.11%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-13.97%
PM growth 5Y-4.74%
GM growth 3YN/A
GM growth 5YN/A
WTBA Yearly Profit, Operating, Gross MarginsWTBA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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1

2. Health

2.1 Basic Checks

WTBA does not have a ROIC to compare to the WACC, probably because it is not profitable.
Compared to 1 year ago, WTBA has more shares outstanding
The number of shares outstanding for WTBA has been increased compared to 5 years ago.
The debt/assets ratio for WTBA has been reduced compared to a year ago.
WTBA Yearly Shares OutstandingWTBA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M
WTBA Yearly Total Debt VS Total AssetsWTBA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

WTBA has a debt to FCF ratio of 4.65. This is a neutral value as WTBA would need 4.65 years to pay back of all of its debts.
WTBA has a worse Debt to FCF ratio (4.65) than 69.54% of its industry peers.
WTBA has a Debt/Equity ratio of 0.51. This is a neutral value indicating WTBA is somewhat dependend on debt financing.
WTBA has a worse Debt to Equity ratio (0.51) than 78.93% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 4.65
Altman-Z N/A
ROIC/WACCN/A
WACC16.93%
WTBA Yearly LT Debt VS Equity VS FCFWTBA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

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6

3. Growth

3.1 Past

WTBA shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 20.15%, which is quite impressive.
WTBA shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -3.04% yearly.
The Revenue has grown by 9.62% in the past year. This is quite good.
The Revenue has been growing slightly by 1.33% on average over the past years.
EPS 1Y (TTM)20.15%
EPS 3Y-20.27%
EPS 5Y-3.04%
EPS Q2Q%31.43%
Revenue 1Y (TTM)9.62%
Revenue growth 3Y-8.69%
Revenue growth 5Y1.33%
Sales Q2Q%21.26%

3.2 Future

The Earnings Per Share is expected to grow by 23.69% on average over the next years. This is a very strong growth
Based on estimates for the next years, WTBA will show a quite strong growth in Revenue. The Revenue will grow by 14.64% on average per year.
EPS Next Y29.2%
EPS Next 2Y23.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year19.07%
Revenue Next 2Y14.64%
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 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 20M 40M 60M 80M 100M
WTBA Yearly EPS VS EstimatesWTBA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 12.19 indicates a correct valuation of WTBA.
WTBA's Price/Earnings ratio is in line with the industry average.
The average S&P500 Price/Earnings ratio is at 27.50. WTBA is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 8.55, which indicates a very decent valuation of WTBA.
Compared to the rest of the industry, the Price/Forward Earnings ratio of WTBA indicates a somewhat cheap valuation: WTBA is cheaper than 74.87% of the companies listed in the same industry.
WTBA is valuated cheaply when we compare the Price/Forward Earnings ratio to 36.44, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 12.19
Fwd PE 8.55
WTBA Price Earnings VS Forward Price EarningsWTBA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

WTBA's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 12.7
EV/EBITDA N/A
WTBA Per share dataWTBA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 5 10

4.3 Compensation for Growth

WTBA's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as WTBA's earnings are expected to grow with 23.69% in the coming years.
PEG (NY)0.42
PEG (5Y)N/A
EPS Next 2Y23.69%
EPS Next 3YN/A

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8

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.83%, WTBA is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.25, WTBA pays a better dividend. On top of this WTBA pays more dividend than 87.56% 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 2.34.
Industry RankSector Rank
Dividend Yield 4.83%

5.2 History

The dividend of WTBA has a limited annual growth rate of 3.82%.
WTBA has paid a dividend for at least 10 years, which is a reliable track record.
WTBA has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)3.82%
Div Incr Years0
Div Non Decr Years13
WTBA Yearly Dividends per shareWTBA Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8

5.3 Sustainability

64.54% of the earnings are spent on dividend by WTBA. This is not a sustainable payout ratio.
The dividend of WTBA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP64.54%
EPS Next 2Y23.69%
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M 40M
WTBA Dividend Payout.WTBA Dividend Payout, showing the Payout Ratio.WTBA Dividend Payout.PayoutRetained Earnings

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WEST BANCORPORATION

NASDAQ:WTBA (7/18/2025, 8:20:40 PM)

After market: 19.62 0 (0%)

19.62

-0.38 (-1.9%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupBanks
GICS IndustryBanks
Earnings (Last)04-24 2025-04-24/bmo
Earnings (Next)07-24 2025-07-24/bmo
Inst Owners46.38%
Inst Owner Change0%
Ins Owners4.31%
Ins Owner Change4.53%
Market Cap331.97M
Analysts43.33
Price Target20.4 (3.98%)
Short Float %2.21%
Short Ratio10.77
Dividend
Industry RankSector Rank
Dividend Yield 4.83%
Yearly Dividend1
Dividend Growth(5Y)3.82%
DP64.54%
Div Incr Years0
Div Non Decr Years13
Ex-Date05-07 2025-05-07 (0.25)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)19.39%
Min EPS beat(2)18.68%
Max EPS beat(2)20.1%
EPS beat(4)3
Avg EPS beat(4)11.11%
Min EPS beat(4)-5.02%
Max EPS beat(4)20.1%
EPS beat(8)6
Avg EPS beat(8)10.15%
EPS beat(12)9
Avg EPS beat(12)7.25%
EPS beat(16)12
Avg EPS beat(16)7.43%
Revenue beat(2)1
Avg Revenue beat(2)0.12%
Min Revenue beat(2)-4.56%
Max Revenue beat(2)4.79%
Revenue beat(4)1
Avg Revenue beat(4)-0.17%
Min Revenue beat(4)-4.56%
Max Revenue beat(4)4.79%
Revenue beat(8)1
Avg Revenue beat(8)-1.58%
Revenue beat(12)1
Avg Revenue beat(12)-2.19%
Revenue beat(16)3
Avg Revenue beat(16)-1.64%
PT rev (1m)0%
PT rev (3m)-9.09%
EPS NQ rev (1m)0%
EPS NQ rev (3m)17.95%
EPS NY rev (1m)0%
EPS NY rev (3m)15.15%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)6.55%
Revenue NY rev (1m)0%
Revenue NY rev (3m)6.12%
Valuation
Industry RankSector Rank
PE 12.19
Fwd PE 8.55
P/S 3.96
P/FCF 12.7
P/OCF 7.64
P/B 1.4
P/tB 1.4
EV/EBITDA N/A
EPS(TTM)1.61
EY8.21%
EPS(NY)2.3
Fwd EY11.7%
FCF(TTM)1.54
FCFY7.87%
OCF(TTM)2.57
OCFY13.08%
SpS4.96
BVpS14.06
TBVpS14.06
PEG (NY)0.42
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 0.65%
ROE 10.97%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) 31.11%
GM N/A
FCFM 31.17%
ROA(3y)0.84%
ROA(5y)0.99%
ROE(3y)14.42%
ROE(5y)15.39%
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
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3Y-13.97%
PM growth 5Y-4.74%
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.02
Health
Industry RankSector Rank
Debt/Equity 0.51
Debt/FCF 4.65
Debt/EBITDA N/A
Cap/Depr 402.14%
Cap/Sales 20.63%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality 100.2%
Current Ratio N/A
Quick Ratio N/A
Altman-Z N/A
F-Score8
WACC16.93%
ROIC/WACCN/A
Cap/Depr(3y)1361.06%
Cap/Depr(5y)964.1%
Cap/Sales(3y)33.22%
Cap/Sales(5y)22.1%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)20.15%
EPS 3Y-20.27%
EPS 5Y-3.04%
EPS Q2Q%31.43%
EPS Next Y29.2%
EPS Next 2Y23.69%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)9.62%
Revenue growth 3Y-8.69%
Revenue growth 5Y1.33%
Sales Q2Q%21.26%
Revenue Next Year19.07%
Revenue Next 2Y14.64%
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 1Y5.01%
FCF growth 3Y-34.72%
FCF growth 5Y-17.57%
OCF growth 1Y-6.41%
OCF growth 3Y-11.73%
OCF growth 5Y1.49%