Waterstone Financial (WSBF) Financial Statements & Analysis

Waterstone Financial (WSBF) Income Statement

Waterstone Financial reported revenue of $143.31M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 28.1% from $199.38M a year earlier. Net income was $26.40M, up 41.3% year over year, a net margin of 18.4%. Gross margin was 100.2% and operating margin 23.3%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $40.01M, down 23.3% from the same quarter a year earlier.

Waterstone Financial Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Waterstone Financial, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	143.32	199.38	176.97	171.06	268.47	317.86	207.20	188.53	188.45
Cost of Revenue	57.98	66.83	49.65	14.26	10.38	31.32	26.64	18.46	15.20
Gross Profit	143.63	132.55	127.32	156.80	258.09	286.53	180.56	170.06	173.25
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	18.82	84.63	87.88	103.54	138.64	142.74	106.96	103.52	101.98
Operating Expenses	110.18	108.55	116.28	132.32	165.98	178.42	132.99	129.78	128.82
Operating Income	33.45	24.00	11.03	24.48	92.11	108.12	47.57	40.28	44.43
Other Income/Expense
Interest Income	116.11	113.17	99.21	70.25	69.88	78.48	79.74	73.70	67.10
Interest Expense	59.37	67.00	48.99	13.29	14.37	24.98	27.54	19.52	16.36
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	33.45	24.00	11.03	24.48	92.11	108.12	47.57	40.28	44.43
Income Tax Expense	7.04	5.31	1.66	4.99	21.32	26.97	11.67	9.53	18.47
Net Income	26.40	18.69	9.38	19.49	70.79	81.15	35.90	30.75	25.96
Net Income - Continuous Operations	26.40	18.69	9.38	19.49	70.79	81.15	35.90	30.75	25.96
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	2.55	26.48	14.33	28.51	98.16	113.72	52.27	45.01	46.59
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	2.55	2.47	3.30	4.03	6.05	5.61	4.70	4.73	2.16
Earnings Per Share
Basic EPS	1.00	1.00	-	1.00	3.00	3.00	1.00	1.00	1.00
Diluted EPS	1.00	1.00	-	1.00	3.00	3.00	1.00	1.00	1.00
Basic Shares Outstanding	17.84	18.56	20.16	21.88	23.74	24.46	26.02	27.36	27.47
Diluted Shares Outstanding	17.87	18.59	20.20	22.01	23.93	24.61	26.25	27.63	27.90

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Waterstone Financial Financial Statements

What was Waterstone Financial's revenue in fiscal 2025?

Waterstone Financial reported revenue of $143.31M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 28.1% from $199.38M a year earlier.

Is Waterstone Financial profitable?

Yes. Waterstone Financial earned net income of $26.40M in fiscal 2025, a net margin of 18.4%. In fiscal 2024 it earned $18.69M.

What is Waterstone Financial's operating margin?

Waterstone Financial's operating income was $33.45M on revenue of $143.31M in fiscal 2025, an operating margin of 23.3%, compared with 12.0% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition