WESTAMERICA BANCORPORATION financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data WESTAMERICA BANCORPORATION files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Interest expense	2.12	1.9	1.96	1.89	1.82	1.96	1.93	3.89
Pre-tax income	80	87.2	91	105	107	117	166	222	189	157
Income tax	21.1	37.1	19.4	24.8	26.4	30.5	43.6	59.8	50.4	40.5
Net income	58.9	50	71.6	80.4	80.4	86.5	122	162	139	116
EPS, basic	2.30	1.90	2.69	2.98	2.98	3.22	4.54	6.06	5.20	4.52
EPS, diluted	2.29	1.89	2.67	2.98	2.98	3.22	4.54	6.06	5.20	4.52
Shares, basic (weighted)	25.6	26.3	26.6	27	26.9	26.9	26.9	26.7	26.7	25.7
Shares, diluted (weighted)	25.7	26.4	26.8	27	27	26.9	26.9	26.7	26.7	25.7
Dividend per share	1.56	1.57	1.60	1.63	1.64	1.65	1.68	1.72	1.76	1.82

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Property, plant and equipment	36.6	35.3	34.5	34.6	32.8	31.2	28.8	27	26.1	25.7
Lease right-of-use assets			0	17.1	18.8	18	15.7	18.8	18	22.2
Goodwill	122	122	122	122	122	122	122	122	122	122
Intangible assets	6.93	3.85	1.93	1.39	1.1	0.84	0.58	0.35	0.13	0
Total assets	5,366	5,513	5,569	5,620	6,748	7,461	6,950	6,365	6,076	5,960
Short-term debt	59.1	58.5	51.2	30.9	103	146	57.8	58.2	120	137
Total liabilities	4,805	4,923	4,953	4,888	5,903	6,634	6,348	5,592	5,186	5,027
Paid-in capital								473	476
Retained earnings	165	174	206	239	264	306	383	490	582	585
Other comprehensive income	-10.1	-16.8	-40	26.1	114	49.7	-256	-190	-168	-91.1
Shareholders' equity	561	590	616	731	845	827	602	773	890	934
Total equity	561	590	616	731	845	827	602	773	890	934
Total liabilities and equity	5,366	5,513	5,569	5,620	6,748	7,461	6,950	6,365	6,076	5,960
Shares outstanding	25.9	26.4	26.7	27.1	26.8	26.9	26.9	26.7	26.7	24.6

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	58.9	50	71.6	80.4	80.4	86.5	122	162	139	116
Depreciation and amortization	19.9	26.1	24.4	20.6	22.6	16.6	16.6	11.8	10.4	7.25
Deferred income tax	-2.45	15.2	-0.94	3.39	-0.25	2.12	0.7	-2	1.59	3.03
Cash from operations	77.6	80.8	96.6	80.7	108	88.7	114	158	142	122
Capital expenditures	-1.82	-2.72	-3.12	-3.99	-2.2	-1.32	-0.81	-1.16	-1.74	-2.25
Purchases of investments	-1,081	-636	-855	-971	-2,103	-1,909	-636	0	-20.7	-710
Sales and maturities of investments	738	319	353	631	1,261	1,204	500	416	648	739
Cash from investing	-197	-73.3	-254	-22.3	-749	-306	-631	547	716	150
Stock issued	24	24.6	13.4	13.7	2.84	3.02	2.26	0.95	1.49	0.38
Share buybacks	-5.42	-0.31	-0.52	-0.49	-16.5	-0.23	-0.22	-13.7	-0.21	-104
Dividends paid	-39.9	-41.3	-42.6	-43.9	-44.3	-44.3	-45.2	-46	-47	-46.9
Cash from financing	149	105	2.22	-105	889	728	-320	-809	-446	-305
Net change in cash	29.2	113	-155	-46.9	248	511	-838	-104	411	-33.7
Free cash flow	75.8	78	93.5	76.7	106	87.4	113	157	140	120
Interest paid	2.2	1.93	1.93	1.9	1.83	2.03	1.94	3.9	17.4	13.7
Income taxes paid	19.3	17.4	13.6	24.5	26.5	27.7	39.8	64	57.3	33

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $60.67 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Effective tax rate	25.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	13.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.9%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	-16.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-1.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	7.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-13.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-0.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	8.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-13.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	2.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	2.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-14.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	2.0%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	2.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	3.4%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	2.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	2.1%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	4.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	15.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-2.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	85.3%	Total liabilities / total assets.
Goodwill and intangibles / assets	2.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$731.5M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
FCF conversion	98.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	2.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.75	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share	$4.66	Free cash flow / diluted weighted shares.
Operating cash flow per share	$4.77	Cash from operations / diluted weighted shares.
Book value per share	$37.09	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$31.80	Tangible book value / shares outstanding.
Payout ratio	41.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	42.1%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	128.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.40B	Share price x shares outstanding.
Enterprise value	$1.40B	Market cap + total debt - cash - short-term investments.
P/E	12.7x	Market cap / net income. Only when net income is positive.
P/B	1.64x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.92x	Market cap / tangible book value, when positive.
P/FCF	12.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	12.6x	Market cap / cash from operations, when positive.
EV/FCF	12.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.7%	Free cash flow / market cap.
Earnings yield	7.9%	Net income / market cap (the inverse of P/E).
Dividend yield	3.3%	Dividends paid over the period / market cap.
Shareholder yield	13.2%	(Dividends paid + share buybacks) / market cap.

Was WESTAMERICA BANCORPORATION profitable in fiscal 2025?

Yes. Net income was $116.2M, a net margin of -.

How much free cash flow did WESTAMERICA BANCORPORATION generate in fiscal 2025?

Cash from operations of $121.9M minus capital expenditures of $2.2M left free cash flow of $119.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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