WD Walker & Dunlop margins

Relative Growth: Rel. Growth: 5

Relative Strength: Rel. Strength: 23

Relative Valuation: Rel. Valuation: 48

Relative Profitability: Rel. Profitability: 42

Gross margin

100%

Operating margin

3.8%

EBITDA margin

21.5%

Net margin

-2.6%

Walker & Dunlop records its net margin is negative at -2.6%, with a gross margin of 100%, an operating margin of 3.8%, an EBITDA margin of 21.5%, and a net margin of -2.6%. EBITDA margin led the available margin declines with 15.9 percentage points, while the other margins did not change.

WD margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Walker & Dunlop recorded average margins of 100% gross, 15.62% operating, 35.48% EBITDA, and 6.97% net. Walker & Dunlop's current performance shows that operating, EBITDA, and net margins are below their three-year averages.

WD margin expansion

Year-over-year margin changes in percentage points

From the same period last year, operating margin contracted by 14.4 percentage points, EBITDA margin by 15.9 percentage points, and net margin by 11.9 percentage points, while gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

-14.4pp

EBITDA margin expansion

-15.9pp

Net margin expansion

-11.9pp

WD Gross margin

Over the last 3 years, Walker & Dunlop's gross margin averaged 100%. Currently, Walker & Dunlop's current gross margin is 100%, which is in line with its three-year average. During this period, gross margin reached a high of 100% in Sep 2026 and a low of 100% in Dec 2023.

WD Operating margin

Walker & Dunlop recorded an average operating margin of 15.62% across the last 3 years. Walker & Dunlop currently reports an operating margin of 3.8%, 11.8 percentage points below its three-year average. Over the last 3 years, Walker & Dunlop's operating margin peaked at 18.7% in Dec 2024 and reached a low of 3.8% in Sep 2026.

WD EBITDA margin

Across the last 3 years, Walker & Dunlop had an average EBITDA margin of 35.48%. Against its three-year average, Walker & Dunlop's EBITDA margin is currently 21.5%, 14 percentage points below its three-year average. Looking back over the last 3 years, Walker & Dunlop's EBITDA margin reached 41.5% at its highest point in Dec 2023 and 21.5% at its lowest in Sep 2026.

WD Net margin

Looking back over the last 3 years, Walker & Dunlop recorded an average net margin of 6.97%. Against its three-year average, Walker & Dunlop's net margin is currently -2.6%, 9.6 percentage points below its three-year average. The highest net margin for Walker & Dunlop was 10.2% in Dec 2023, while the lowest was -2.6% in Sep 2026.

WD margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 100%, WD ranks higher than the Financial Services sector and the industry average. In comparison with the Financial Services sector average of 83.5%, Walker & Dunlop's gross margin is 20% higher.

WD margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Walker & Dunlop's gross margin?

For the period ending Sep 30, 2026, WD recorded a gross margin of 100%.

What is Walker & Dunlop's operating margin?

For the period ending Sep 30, 2026, WD recorded an operating margin of 3.8%.

What is Walker & Dunlop's EBITDA margin?

For the period ending Sep 30, 2026, WD recorded an EBITDA margin of 21.5%.

What is Walker & Dunlop's net margin?

The current net margin for WD is -2.6% as of Sep 30, 2026.

What are the average margins of WD?

Walker & Dunlop's average margins over the last 3 years were 100.0% gross, 15.6% operating, 35.5% EBITDA, and 7.0% net.

What are the highest historical margins of WD?

Over this 5-year history, WD peaked at 100% gross in Sep 2026, 27.5% operating in Dec 2021, 45.3% EBITDA in Dec 2021, and 21.1% net in Dec 2021.

What are the lowest historical margins of WD?

Walker & Dunlop's lowest recorded margins during the past 5 years were 100% gross in Dec 2021, 3.8% operating in Sep 2026, 21.5% EBITDA in Sep 2026, and -2.6% net in Sep 2026.