A Business at a Glance
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General Development of Business West Bancorporation, Inc. (the Company or West Bancorporation) is an Iowa corporation and a financial holding company registered under the Bank Holding Company Act of 1956, as amended (BHCA). The Company was formed in 1984 to own West Bank, an Iowa-chartered bank headquartered in West Des Moines, Iowa. West Bank is a business-focused community bank that was organized in 1893. The Company’s primary activity during 2025 was the ownership of West Bank. The Company’s and West Bank’s only business is banking, and therefore, no segment information is presented in this report. For additional information regarding the Company’s segment reporting, see Note 1 of the Notes to the Consolidated Financial Statements included in Item 8 of this Form 10-K .
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 95M | 95M | 80M | 79M | 102M | 105M |
| Net Income | 33M | 33M | 24M | 24M | 46M | 50M |
| EPS | $1.92 | $1.92 | $1.42 | $1.44 | $2.76 | $2.95 |
| Free Cash Flow | 43M | 43M | 14M | -11M | 38M | 49M |
| ROIC | 11.1% | 0.0% | 0.0% | 0.0% | - | - |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.10 | 0.10 | 0.19 | 0.21 | 0.24 | 0.20 |
| Dividends/Share | $1.00 | $1.00 | $0.99 | $1.00 | $0.99 | $0.92 |
| Operating Income | 1.8M | 1.8M | 1.3M | 1.4M | - | - |
| Operating Margin | 1.8% | 1.8% | 1.6% | 1.8% | - | - |
| ROE | 12.2% | 13.2% | 10.6% | 10.7% | 22.0% | 19.1% |
| Shares Outstanding | 17M | 17M | 17M | 17M | 17M | 17M |
WEST BANCORPORATION INC passes 3 of 9 quality checks, indicating weak fundamentals.
WEST BANCORPORATION INC trades at 13.0x trailing earnings, compared to its 15-year median P/E of 11.3x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 9.8x vs a median of 8.8x. The company's 5-year average ROIC is 0.0%. Total shareholder yield (dividends) is 4.0%. At current prices, the estimated annualized return to fair value is -12.4%.
WEST BANCORPORATION INC (WTBA) has a current P/E ratio of 13.0, compared to its historical median P/E of 11.3. The stock is currently considered Fair based on its historical valuation range.
WEST BANCORPORATION INC (WTBA) has a 5-year average return on invested capital (ROIC) of 0.0%. This is below average and may indicate limited pricing power.
WEST BANCORPORATION INC (WTBA) has a market capitalization of $423M. It is classified as a small-cap stock.
Yes, WEST BANCORPORATION INC (WTBA) pays a dividend with a trailing twelve-month yield of 4.00%.
Based on historical P/E analysis, WEST BANCORPORATION INC (WTBA) appears fair. The current P/E of 13.0 is 15% above its historical median of 11.3. The estimated fair value CAGR (P/E method) is -2.1%.
WEST BANCORPORATION INC (WTBA) operates in the State Commercial Banks industry, within the Financials sector.
WEST BANCORPORATION INC (WTBA) reported annual revenue of $95 million in its most recent fiscal year, based on SEC EDGAR filings.
WEST BANCORPORATION INC (WTBA) has a net profit margin of 34.2%. This is a strong margin indicating high profitability.
WEST BANCORPORATION INC (WTBA) generated $43 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
WEST BANCORPORATION INC (WTBA) has a debt-to-equity ratio of 0.10. This indicates a conservatively financed balance sheet.
WEST BANCORPORATION INC (WTBA) reported earnings per share (EPS) of $1.92 in its most recent fiscal year.
WEST BANCORPORATION INC (WTBA) has a return on equity (ROE) of 13.2%. This indicates moderate shareholder returns.
The Ledger Terminal provides 16 years of financial data for WEST BANCORPORATION INC (WTBA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
WEST BANCORPORATION INC (WTBA) has a book value per share of $15.68, based on its most recent annual SEC filing.