Filing Flows › Financials › Western Alliance Bancorporation (WAL)
Western Alliance Bancorporation (WAL) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 30, 2026 · Western Alliance Bancorporation (WAL) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $1.0B · 27¢ of every $1 of revenue kept as net profit · operating margin 33.4%
Western Alliance Bancorporation made $1.0B in Q3 2026 (+8% Y/Y): Net interest income $808M, Noninterest income $207M. Operating margin 33.4%, net earnings $270M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 30, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $1.0B in Q3 2026, up 8% year over year and up 2% from the previous quarter. Net interest income was the largest line at 80% of revenue. Net interest income added $0.06B year over year (up 8%), 75% of the total change.
Operating profit was $0.34B, a 33.4% margin (unchanged year over year). Of the extra revenue versus Q3 2025, 33% reached operating profit, below the 33% margin then. Total costs grew 8% against revenue growth of 8%. Net earnings were $0.27B, up 7% year over year. The effective tax rate was 18.3%.
Operating cash flow was $0.77B, 278% of net income including minority interests. Non-cash charges added back $0.03B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $0.44B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 30, 2026 | $1.0B | +8% | 33.4% | $270M | $770M |
| Q2 2026 | 10-Q | Jul 31, 2026 | $996M | +18% | 33.3% | $262M | −$356M |
| Q1 2026 | 10-Q | May 11, 2026 | $1.0B | +31% | 22.7% | $182M | −$507M |
| Q4 2025 | 10-K | Feb 23, 2026 | $981M | +17% | 36.3% | $286M | −$69.8M |
| Q3 2025 | 10-Q | Nov 3, 2025 | $938M | +14% | 33.4% | $253M | −$597M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $846M | +10% | 34.4% | $230M | −$358M |
| Q1 2025 | 10-Q | May 1, 2025 | $778M | +7% | 31.7% | $199M | −$1.7B |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Western Alliance Bancorporation
WAL is a bank holding company headquartered in Phoenix, Arizona, incorporated under the laws of the state of Delaware. WAL provides a full spectrum of customized loan, deposit, and treasury management capabilities, including funds transfer and other digital payment offerings through its wholly-owned banking subsidiary, WAB. Effective as of October 4, 2025, the Company completed its brand unity initiative, consolidating its legacy division bank brands: ABA, BON, FIB, Bridge, and TPB, under a single unified name, Western Alliance Bank. The Company also serves business customers through a national platform of specialized financial services, including mortgage banking services through AmeriHome and digital payment services for the class action legal industry.
In its own words, from its 10-K, filed Feb 23, 2026.
Western Alliance Bancorporation against its State Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +10%. Operating margin: 33.4% against the peers' median 34.6%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| WAL Western Alliance Bancorporation | Q3 2026 | $1.0B | +8% | 33.4% |
| BNY Bank of New York Mellon | Q3 2026 | $5.7B | +12% | 38.5% |
| STT State Street | Q3 2026 | $4.0B | +13% | 34.7% |
| FITB Fifth Third Bancorp | Q3 2026 | $3.3B | +42% | 33.8% |
| MTB M&T Bank | Q3 2026 | $2.5B | +0.9% | 39.7% |
| FCNCA First Citizens Bancshares | Q3 2026 | $2.4B | 0% | 33.1% |
| ALLY Ally Financial | Q3 2026 | $2.3B | +8% | 24.3% |
| CFG Citizens Financial Group | Q3 2026 | $2.3B | +10% | 34.6% |
| NTRS Northern Trust | Q3 2026 | $2.3B | +13% | 34.7% |
Source: Western Alliance Bancorporation 10-Q on SEC EDGAR · CIK 1212545 · State Commercial Banks
Guidance and outlook
13F: who owns WAL and who is buying
More on WAL
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History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results