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Sep 30
Walker & Dunlop Q3 2025 Earnings Report
Walker & Dunlop reported strong third quarter 2025 results with increased transaction volume and revenue.
Key Takeaways
Walker & Dunlop delivered a robust third quarter in 2025, driven by a significant increase in total transaction volume, which rose 34% year-over-year to $15.5 billion. This growth translated into a 16% increase in total revenues and a 15% rise in diluted earnings per share, reflecting a steady recovery in the commercial real estate capital markets.
Total transaction volume surged by 34% year-over-year, reaching $15.5 billion, indicating a strong rebound in commercial real estate capital markets.
Total revenues increased by 16% to $338 million, demonstrating effective capitalization on market opportunities.
Net income grew by 16% to $33.5 million, with diluted EPS rising 15% to $0.98 per share.
Adjusted EBITDA increased by 4% to $82 million, and adjusted core EPS was up 3% to $1.22, highlighting solid underlying operational performance.
Walker & Dunlop
Walker & Dunlop
Walker & Dunlop Revenue by Segment
Revenue by Segment
Capital Markets Revenue
CapyFin.comServicing & Asset Management Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
Walker & Dunlop anticipates continued growth by leveraging its brand, market position, and technological advancements to expand its client base and market share in the evolving commercial real estate cycle.
Positive Outlook
- Strong brand and market position are expected to drive future growth.
- Continued expansion of client base through strategic initiatives.
- Deployment of technology to enhance customer experience and operational efficiency.
- Ability to attract top talent and enter new markets due to strong brand recognition.
- Well-positioned to capitalize on the next commercial real estate cycle for long-term shareholder value.
Challenges Ahead
- General economic conditions and multifamily and commercial real estate market conditions could impact performance.
- Changes in interest rates may affect transaction volumes and profitability.
- Regulatory and/or legislative changes to Freddie Mac, Fannie Mae, or HUD could pose challenges.
- Ability to retain and attract loan originators and other professionals remains a continuous factor.
- Changes in federal government fiscal and monetary policies, including HUD funding, could affect loan originations.