Western Alliance Bancorporation (WAL-PA) Margin Analysis

Western Alliance Bancorporation

WAL-PA (NYSE)

(%)

Models
Western Alliance Bancorporation Margin Analysis

# --- Years and Quarters
assumptions.set({
    "timeseries": "annual",
    "data": {
        "#years": """
            4
        """,
        "#quarters": """
            8
        """,
    },
    "titles": {
        "#years": "Years",
        "#quarters": "Quarters",
    },
    "properties": {
        "width": "responsive",
        "title": "Years and Quarters",
        "id": "component-1",
        "bindTo": None
    },
    "descriptions": {
        "#years": r"""
The number of historical years used to render the annual chart and tables.
        """,
        "#quarters": r"""
The number of historical quarters used to render the quarterly chart and tables.
        """,
    }
})

# Render description block
model.render_description({
    "data": r"""
## Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.
""",
    "properties": {
        "width": "responsive"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Annual Section

The annual section uses annual data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

# --- Income Statement Margins
data.compute({
    "user:%revenueGrowthRate": """
        ( income:revenue / income:revenue:-1 ) - 1
    """,
    "user:%grossMargin": """
        income:grossProfit / income:revenue
    """,
    "user:%operatingMargin": """
        income:operatingIncome / income:revenue
    """,
    "user:%netMargin": """
        income:netIncome / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

# --- Cash Flow Statement Margins
data.compute({
    "user:%cashFromOperatingActivitiesMargin": """
        flow:netCashProvidedByOperatingActivities / income:revenue
    """,
    "user:%freeCashFlowMargin": """
        flow:freeCashFlow / income:revenue
    """,
    "user:%depreciationAndAmortizationMargin": """
        flow:depreciationAndAmortization / income:revenue
    """,
    "user:%capitalExpenditureMargin": """
        flow:capitalExpenditure / income:revenue
    """,
}, forecast=0, timeseries="annual")

model.render_table({
    "timeseries": "annual",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "include_ltm": True,
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "annual",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#years
    """),
    "end": 0,
    "properties": {
        "title": "Annual Chart",
        "include_ltm": False,
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

# Render description block
model.render_description({
    "data": r"""
## Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.
""",
    "properties": {
        "width": "full"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "user:%revenueGrowthRate": "Revenue Growth Rate",
        "income:costOfRevenue": "Cost of Revenue",
        "income:grossProfit": "Gross Profit",
        "user:%grossMargin": "Gross Margin",
        "income:operatingIncome": "Operating Income",
        "user:%operatingMargin": "Operating Margin",
        "income:netIncome": "Net Income",
        "user:%netMargin": "Net Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Income Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_table({
    "timeseries": "quarterly",
    "data": {
        "income:revenue": "Revenue",
        "flow:netCashProvidedByOperatingActivities": "Cash from Operating Activities",
        "user:%cashFromOperatingActivitiesMargin": "Cash from Operating Activities Margin",
        "flow:freeCashFlow": "Free Cash Flow",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
        "flow:depreciationAndAmortization": "Depreciation and Amortization",
        "user:%depreciationAndAmortizationMargin": "Depreciation and Amortization Margin",
        "flow:capitalExpenditure": "Capital Expenditure",
        "user:%capitalExpenditureMargin": "Capital Expenditure Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Cash Flow Statement Margins",
        "order": "descending",
        "number_format": "M",
        "display_averages": False,
        "width": "responsive"
    }
})

model.render_chart({
    "timeseries": "quarterly",
    "data": {
        "user:%grossMargin": "Gross Margin",
        "user:%operatingMargin": "Operating Margin",
        "user:%netMargin": "Net Margin",
        "user:%freeCashFlowMargin": "Free Cash Flow Margin",
    },
    "start": data.get("""
        -assumption:#quarters
    """),
    "end": 0,
    "properties": {
        "title": "Quarterly Chart",
        "set_editable": [],
        "hidden_keys": [],
        "bar_keys": ["user:%grossMargin", "user:%operatingMargin", "user:%netMargin", "user:%freeCashFlowMargin"],
        "width": "full"
    }
})

Years and Quarters

Years Years The number of historical years used to render the annual chart and tables.	#
Quarters Quarters The number of historical quarters used to render the quarterly chart and tables.	#

Margin Analysis Report

Margins refer to the ratio between a financial report item and the revenue (example: Net Income Margin = Net Income / Revenue).

This analysis provides annual and quarterly sections for reporting key financial margins.

Annual Section

The annual section uses annual data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	LTM Mar 15	2025 Dec 31	2024 Dec 31	2023 Dec 31	2022 Dec 31
Revenue	5,294	5,276	5,016	4,257	2,961
Revenue Growth Rate	0.347%	5.17%	17.83%	43.78%	47.88%
Cost of Revenue	2,052	2,052	2,068	1,759	543.6
Gross Profit	3,242	3,224	2,948	2,498	2,417
Gross Margin	61.24%	61.1%	58.77%	58.68%	81.64%
Operating Income	1,207	1,207	991.2	933.6	1,316
Operating Margin	22.8%	22.88%	19.76%	21.93%	44.45%
Net Income	969	969	787.7	722.4	1,057
Net Margin	18.3%	18.37%	15.7%	16.97%	35.71%

Cash Flow Statement Margins

Monetary values in USD amounts except #	LTM Mar 15	2025 Dec 31	2024 Dec 31	2023 Dec 31	2022 Dec 31
Revenue	5,294	5,276	5,016	4,257	2,961
Cash from Operating Activities	-2,679	-2,679	-2,742	-328.6	2,245
Cash from Operating Activities Margin	-50.6%	-50.78%	-54.66%	-7.72%	75.83%
Free Cash Flow	-2,793	-2,793	-2,826	-442.9	2,104
Free Cash Flow Margin	-52.76%	-52.94%	-56.33%	-10.4%	71.07%
Depreciation and Amortization	0	0	118.5	86.5	74.6
Depreciation and Amortization Margin	0%	0%	2.36%	2.03%	2.52%
Capital Expenditure	-114.3	-114.3	-83.8	-114.3	-141
Capital Expenditure Margin	-2.16%	-2.17%	-1.67%	-2.69%	-4.76%

Annual Chart

Monetary values in USD

{"sectionId": "section-chart-1", "sectionType": "chart", "title": "Annual Chart", "timeseries": "annual", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 81.64}, {"l": "2023", "x": "2023-12-31", "y": 58.68}, {"l": "2024", "x": "2024-12-31", "y": 58.77}, {"l": "2025", "x": "2025-12-31", "y": 61.1}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 44.45}, {"l": "2023", "x": "2023-12-31", "y": 21.93}, {"l": "2024", "x": "2024-12-31", "y": 19.76}, {"l": "2025", "x": "2025-12-31", "y": 22.88}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 35.71}, {"l": "2023", "x": "2023-12-31", "y": 16.97}, {"l": "2024", "x": "2024-12-31", "y": 15.7}, {"l": "2025", "x": "2025-12-31", "y": 18.37}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2022", "x": "2022-12-31", "y": 71.07}, {"l": "2023", "x": "2023-12-31", "y": -10.4}, {"l": "2024", "x": "2024-12-31", "y": -56.33}, {"l": "2025", "x": "2025-12-31", "y": -52.94}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "annual", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}

Quarterly Section

The quarterly section uses quarterly data to calculate margins and growth rates.

Income Statement Margins

Monetary values in USD amounts except #	2025 (Q4) Dec 31	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30
Revenue	1,406	1,398	1,283	1,207	1,290	1,307
Revenue Growth Rate	0.586%	9.02%	6.3%	-6.46%	-1.33%
Cost of Revenue	524.2	555.1	496.7	476.2	529.3	536.5
Gross Profit	882.3	843.2	785.9	730.4	760.6	770.8
Gross Margin	62.73%	60.3%	61.27%	60.53%	58.97%	58.96%
Operating Income	355.7	313.8	291.3	246.4	259.4	252.1
Operating Margin	25.29%	22.44%	22.71%	20.42%	20.11%	19.28%
Net Income	286.1	253.4	230.4	199.1	216.9	199.8
Net Margin	20.34%	18.12%	17.96%	16.5%	16.82%	15.28%

Cash Flow Statement Margins

Monetary values in USD amounts except #	2025 (Q4) Dec 31	2025 (Q3) Sep 30	2025 (Q2) Jun 30	2025 (Q1) Mar 31	2024 (Q4) Dec 31	2024 (Q3) Sep 30
Revenue	1,406	1,398	1,283	1,207	1,290	1,307
Cash from Operating Activities	-69.8	-597.4	-357.7	-1,654	-621.7	-1,068
Cash from Operating Activities Margin	-4.96%	-42.72%	-27.89%	-137.1%	-48.2%	-81.7%
Free Cash Flow	-118.2	-625.6	-378.8	-1,671	-648.4	-1,090
Free Cash Flow Margin	-8.4%	-44.74%	-29.53%	-138.5%	-50.27%	-83.39%
Depreciation and Amortization	-79.1	15.8	32.3	31	35.9	28.4
Depreciation and Amortization Margin	-5.62%	1.13%	2.52%	2.57%	2.78%	2.17%
Capital Expenditure	-48.4	-28.2	-21.1	-16.6	-26.7	-22.1
Capital Expenditure Margin	-3.44%	-2.02%	-1.65%	-1.38%	-2.07%	-1.69%

Quarterly Chart

Monetary values in USD

{"sectionId": "section-chart-2", "sectionType": "chart", "title": "Quarterly Chart", "timeseries": "quarterly", "series": [{"label": "Gross Margin", "mappingKey": "user:%grossMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 58.96}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 58.97}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 60.53}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 61.27}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 60.3}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 62.73}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Operating Margin", "mappingKey": "user:%operatingMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 19.28}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 20.11}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 20.42}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 22.71}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 22.44}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 25.29}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Net Margin", "mappingKey": "user:%netMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": 15.28}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": 16.82}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": 16.5}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": 17.96}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": 18.12}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": 20.34}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}, {"label": "Free Cash Flow Margin", "mappingKey": "user:%freeCashFlowMargin", "data": [{"l": "2024 (Q3)", "x": "2024-09-30", "y": -83.39}, {"l": "2024 (Q4)", "x": "2024-12-31", "y": -50.27}, {"l": "2025 (Q1)", "x": "2025-03-31", "y": -138.5}, {"l": "2025 (Q2)", "x": "2025-06-30", "y": -29.53}, {"l": "2025 (Q3)", "x": "2025-09-30", "y": -44.74}, {"l": "2025 (Q4)", "x": "2025-12-31", "y": -8.4}], "dataType": "%", "displayAs": "bar", "dataTimeseries": "quarterly", "hidden": false}], "editableDates": {}, "properties": {"display_table": false}, "width": "full"}