Walker & Dunlop (WD) Operating Expenses (2010 - 2026)
Walker & Dunlop (WD) recorded Operating Expenses of $304.62 million in Q2 2026, up 11.6% from $272.87 million a year earlier and up 10.6% from the prior quarter.
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Analysis
Walker & Dunlop (WD) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Walker & Dunlop's Operating Expenses came in at $1.23 billion as of Jun 30, 2026, up 17.3% year-over-year; for FY2025, it was $1.16 billion, up 15.4% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 8.9% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1 billion in FY2024 (+9.2%), $916.24 million in FY2023 (-7.8%), $993.79 million in FY2022 (+9.6%) and $907.12 million in FY2021 (+20.4%).
- Quarterly Operating Expenses has ranged from $204.14 million in Q1 2023 to $358.58 million in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for ten consecutive quarters, with growth averaging 14.8% over the last eight quarters.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 51.8% in Q1 2022, against a decline of 20.7% in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at $275.38 million (Q1 2026), $358.58 million (Q4 2025) and $291.74 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 2.50 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | Walker & Dunlop | 1.17 Bn | 254.01 Mn | - | 304.62 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 304.62 Mn |
| Mar 31, 2026 | 275.38 Mn |
| Dec 31, 2025 | 358.58 Mn |
| Sep 30, 2025 | 291.74 Mn |
| Jun 30, 2025 | 272.87 Mn |
| Mar 31, 2025 | 232.12 Mn |
| Dec 31, 2024 | 289.33 Mn |
| Sep 30, 2024 | 254.80 Mn |
| Jun 30, 2024 | 242.48 Mn |
| Mar 31, 2024 | 214.38 Mn |
| Dec 31, 2023 | 234.97 Mn |
| Sep 30, 2023 | 240.53 Mn |
| Jun 30, 2023 | 236.60 Mn |
| Mar 31, 2023 | 204.14 Mn |
| Dec 31, 2022 | 235.68 Mn |
| Sep 30, 2022 | 261.42 Mn |
| Jun 30, 2022 | 267.24 Mn |
| Mar 31, 2022 | 229.45 Mn |
| Dec 31, 2021 | 297.34 Mn |
| Sep 30, 2021 | 251.55 Mn |
API Access
Walker & Dunlop Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=WD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "WD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=WD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();