WABC

Westamerica Bancorporation

$47.61

1.44

(3.12%)

Exchange:	NASDAQ
Market Cap:	1.246B
Shares Outstanding:	14.211M

Overview

Earnings

Financials

Valuation

Chart

About The Company

Westamerica Bancorporation operates as a bank holding company for the Westamerica Bank that provides various banking products and services to individual and commercial customers. The company accepts various deposit products, including retail savings and checking accounts, as well as certificates of deposit. Its loan portfolio includes commercial, commercial and residential real estate, real estate construction, and consumer installment loans, as well as indirect automobile loans. It operates through 78 branch offices in 21 counties in Northern and Central California. The company was formerly known as Independent Bankshares Corporation and changed its name to Westamerica Bancorporation in 1983. The company was incorporated in 1972 and is headquartered in San Rafael, California.

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Revenue Segmentation

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EPS

View full analyst estimates

Earnings Call

No transcript or summary available for this symbol.

Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	181,972	178,509	187,939	197,913	204,202	206,133	214,833	264,952	284,013	268,014
? Cost Of Revenue	0	0	0	0	0	0	0	0	0	0
? Gross Profit	181,972	178,509	187,939	197,913	204,202	206,133	214,833	264,952	284,013	268,014
? Research And Development Expenses	0	0	0	0	0	0	0	0	0	0
? General And Administrative Expenses	52,192	51,507	51,519	53,007	60,525	60,175	57,612	46,125	47,871	1,470
? Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0
? Operating Expenses	2,490	3,980	2,161	-104,957	-98,986	-99,330	-97,806	2,628	82,640	1,470
? Net Interest Income	0	0	0	0	0	0	0	0	0	250,595
? Interest Income	136,529	134,051	133,836	151,723	158,682	165,856	173,443	221,756	284,013	268,014
? Interest Expense	2,424	2,116	1,900	1,959	1,888	1,824	1,955	1,925	3,890	17,419
? Depreciation And Amortization	3,856	7,463	7,002	5,598	4,417	3,970	3,247	2,899	0	0
? EBITDA	93,074	99,896	113,254	115,399	125,842	125,914	131,868	182,156	0	0
? EBIT										206,478
? Operating Income	91,642	98,508	112,077	92,956	105,216	106,803	117,027	167,516	221,579	266,544
? Income Before Tax	76,672	79,957	87,172	90,997	105,216	106,803	117,027	165,591	221,579	189,059
? Income Tax Expense	17,919	21,104	37,147	19,433	24,827	26,390	30,518	43,557	59,811	50,423
? Net Income From Continuing Operations										138,636
? Net Income	58,753	58,853	50,025	71,564	80,389	80,413	86,509	122,034	161,768	138,636
? EPS (Earnings Per Share)	2.300	2.300	1.900	2.690	2.980	2.980	3.220	4.540	6.060	5.200
? EPS Diluted	2.300	2.290	1.890	2.670	2.980	2.980	3.220	4.540	6.060	5.200
? Weighted Average Shares Outstanding	25,555	25,612	26,291	26,649	26,956	26,942	26,855	26,895	26,703	26,685
? Weighted Average Shares Outstanding Diluted	25,577	25,678	26,419	26,756	27,006	26,960	26,870	26,907	26,706	26,686
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	433,044	462,271	575,002	420,284	373,421	621,275	1,132,085	294,236	190,314	601,494
? Short Term Investments	1,570,216	1,890,758	2,191,707	2,654,670	3,078,846	4,063,185	4,638,855	4,331,743	3,999,801	3,395,810
? Cash And Short Term Investments	2,003,260	2,353,029	2,768,509	3,074,954	3,452,267	4,684,460	5,770,940	4,625,979	190,314	3,997,304
? Net Receivables	20,174	0	0	0	0	0	0	0	0	44,606
? Accounts Receivables										44,606
? Inventory	0	-2,374,518	-2,792,066	-3,100,788	-3,481,064	-4,717,482	-5,806,461	-4,679,537	0	0
? Total Current Assets	2,096,327	491,680	604,891	451,126	405,998	658,869	1,172,363	352,688	190,314	3,997,304
? Property Plant Equipment Net	38,693	36,566	35,301	34,507	51,733	51,645	49,135	44,565	45,830	26,133
? Goodwill	121,673	121,673	121,673	121,673	121,673	121,673	121,673	121,673	121,673	121,673
? Intangible Assets	10,431	128,600	125,523	123,602	123,064	122,777	122,508	122,256	347	125
? Long Term Investments	2,886,291	26,861	24,346	26,193	35,000	32,561.999	51,372	46,322	4,907,022	0
? Total Non Current Assets	3,072,548	4,877,831.999	4,909,773	5,118,452	5,225,403	6,111,867	6,314,629	6,597,629	6,174,278	147,931
? Total Assets	5,168,875	5,369,512	5,514,664	5,569,578	5,631,401	6,770,736	7,486,992	6,950,317	6,364,592	6,076,274
? Account Payables	0	0	0	0	0	0	0	0	0	0
? Short Term Debt	53,028	59,078	58,471	51,247	30,928	0	0	0	0	0
? Deferred Revenue	0	0	0	0	0	0	0	0	0	0
? Total Current Liabilities	53,028	2,148,521	2,255,997	2,294,498	2,277,088	2,833,337	3,223,137	3,109,683	0	0
? Long Term Debt	0	0	0	0	17,136	18,832	17,980	15,746	18,814	0
? Deferred Revenue Non Current	0	0	0	0	2,566,461	2,957,186.999	3,337,065	0	0	0
? Deferred Tax Liabilities Non Current	0	3,429	1,618	1,052	11,846	48,583	28,467	0	0	0
? Total Non Current Liabilities	0	2,659,624	2,668,428	2,659,489	2,622,896	3,092,589.999	3,436,753	3,238,524	5,591,698	17,985
? Total Liabilities	4,636,670	4,808,145	4,924,425	4,953,987	4,899,984	5,925,927	6,659,890	6,348,207	5,591,698	5,186,317
? Treasury Stock										0
? Preferred Stock	0	0	0	0	0	0	0	0	0	0
? Common Stock	381,436	404,606	431,734	448,351	465,460	466,006	471,008	475,086	473,136	476,471
? Retained Earnings	150,094	165,302	173,804	205,841	239,135	264,356	306,395	383,094	490,005	581,555
? Additional Paid In Capital										0
? Total Stockholders Equity	532,205	561,367	590,239	615,591	731,417	844,809	827,102	602,110	772,894	889,957
? Total Equity	532,205	561,367	590,239	615,591	731,417	844,809	827,102	602,110	772,894	889,957
? Minority Interest	0	0	0	0	0	0	0	0	0	0
? Total Liabilities And Total Equity	5,168,875	5,369,512	5,514,664	5,569,578	5,631,401	6,770,736	7,486,992	6,950,317	6,364,592	6,076,274
? Total Investments	4,471,967	26,861	24,346	26,193	35,000	32,561.999	51,372	46,322	8,906,823	3,395,810
? Total Debt	53,028	59,078	58,471	51,247	48,064	121,377	164,226	73,538	18,814	17,985
? Net Debt	-380,016	-403,193	-516,531	-369,037	-325,357	-499,898	-967,859	-220,698	-171,500	-583,509
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	58,753	58,853	50,025	71,564	80,389	80,413	86,509	122,034	161,768	138,636
? Depreciation And Amortization	16,402	19,939	26,082	24,402	20,626	22,647	16,617	16,565	2,942	10,404
? Deferred Income Tax	-491	4,380	27,018	-943	-477	-246	3,899	697	0	-8,424
? Stock Based Compensation	1,272	1,494	1,824	1,988	1,744	1,875	1,419	1,309	1,356	1,483
? Change In Working Capital	-7,353	2,505	14,363	-290	-21,147	6,629	-10,200	-23,572	-11,949	1,012
? Accounts Receivables	-780	-1,316	-2,068	-2,277	-2,963	-4,225	-2,499	-18,037	1,224	9,962
? Inventory	0	0	0	0	0	0	0	0	0	0
? Accounts Payables	-86	-52	-31	-27	-9	-5	-72	-10	-12	0
? Net Cash Provided By Operating Activities	70,404	77,637	80,754	96,629	80,702	107,744	88,735	113,702	158,208	141,572
? Investments In Property Plant And Equipment	-4,474	-1,818	-2,720	-3,123	-3,994	-2,200	-1,324	-811	-1,161	0
? Acquisitions Net	165,867	190,918	67,586	82,590	79,703	-122,863	0	0	0	0
? Purchases Of Investments	-1,384,729	-1,327,915	-635,814	-854,555	-970,542	-2,102,983	-1,909,370	-1,355,168	0	-20,735
? Sales Maturities Of Investments	1,120,132	941,679	497,753	520,356	871,263	1,479,010	1,410,855	611,219	459,965	647,529
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	715,678
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	62,160
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	62,160
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	-210
? Net Dividends Paid	-39,124	-39,924	-41,299	-42,635	-43,942	-44,285	-44,304	-45,182	-45,954	-46,958
? Common Dividends Paid										-46,958
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	84,068	148,853	105,235	2,216	-105,268	889,032	728,159	-320,265	-809,404	-446,070
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	0	0
? Net Change In Cash	52,208	29,227	112,731	-154,718	-46,863	247,854	510,810	-837,849	-103,922	411,180
? Cash At End Of Period	433,044	462,271	575,002	420,284	373,421	621,275	1,132,085	294,236	190,314	601,494
? Cash At Beginning Of Period	380,836	433,044	462,271	575,002	420,284	373,421	621,275	1,132,085	294,236	190,314
? Operating Cash Flow	70,404	77,637	80,754	96,629	80,702	107,744	88,735	113,702	158,208	141,572
? Capital Expenditure	-4,474	-1,818	-2,720	-3,123	-3,994	-2,200	-1,324	-811	-1,161	0
? Free Cash Flow	65,930	75,819	78,034	93,506	76,708	105,544	87,411	112,891	157,047	141,572
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Estimated Revenue (Low)	191,637.347	191,670.515	205,992.652	205,035.742	216,125.613	263,312.981	323,283.575	291,575.730	264,095.927	252,900.823
Estimated Revenue (High)	193,542.652	193,576.150	208,040.681	207,074.257	218,274.386	263,377.018	325,876.424	293,914.269	266,214.070	254,929.176
Estimated Revenue (Avg)	192,590	192,623.333	207,016.667	206,055	217,200	263,345	324,580	292,745	265,154.999	253,915
Estimated Ebitda (Low)	87,084.093	95,490.142	100,423.404	101,957.671	106,051.325	130,815.304	150,795.884	147,445.352	133,549.239	127,888.048
Estimated Ebitda (High)	130,626.140	143,235.212	150,635.106	152,936.507	159,076.988	196,222.957	226,193.828	148,627.915	134,620.352	128,913.755
Estimated Ebitda (Avg)	108,855.117	119,362.677	125,529.255	127,447.089	132,564.157	163,519.131	188,494.856	148,036.634	134,084.796	128,400.901
Estimated Net Income (Low)	38,335.134	58,215.549	63,203.808	62,354.280	67,616.795	88,848.576	129,414.398	137,175.908	116,010.868	107,597.676
Estimated Net Income (High)	57,502.702	87,323.324	94,805.712	93,531.423	101,425.193	133,272.866	194,121.601	138,607.884	117,221.718	108,720.931
Estimated Net Income (Avg)	47,918.918	72,769.437	79,004.760	77,942.852	84,520.994	111,060.721	161,768	137,891.896	116,430	108,159.304
Estimated SGA Expense (Low)	47,207.880	52,156.054	49,084.238	48,502.516	46,743.620	38,454.595	42,389.732	69,927.571	63,337.187	60,652.305
Estimated SGA Expense (High)	70,811.819	78,234.081	73,626.358	72,753.776	70,115.430	57,681.892	63,584.600	70,488.414	63,845.174	61,138.758
Estimated SGA Expense (Avg)	59,009.850	65,195.068	61,355.298	60,628.146	58,429.525	48,068.244	52,987.166	70,207.993	63,591.181	60,895.532
Estimated EPS (Avg)	2.310	2.700	2.960	2.830	3.190	4.350	6.040	5.160	4.370	4.050
Estimated EPS (High)	2.330	2.710	2.980	2.850	3.210	4.350	6.070	5.190	4.390	4.070
Estimated EPS (Low)	2.300	2.680	2.940	2.810	3.170	4.350	6.010	5.140	4.340	4.030
Number of Analysts (Estimated Revenue)	3	6	1	1	1	1	1	1	1	1
Number of Analysts (Estimated EPS)	2	5	1	1	1	1	2	2	2	1

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Current Key Metrics

?	Revenue (TTM) :	311.169M	?	P/S (TTM) :	4
?	Net Income (TTM) :	138.636M	?	P/E (TTM) :	9.23
?	Enterprise Value (TTM) :	614.638M	?	EV/FCF (TTM) :	4.73
?	Dividend Yield (TTM) :	0.04	?	Payout Ratio (TTM) :	0.35
?	ROE (TTM) :	0.15	?	ROIC (TTM) :	0.12
?	Net Debt (TTM) :	-463187000	?	Debt/Equity (TTM) :	0.14
?	P/B (TTM) :	1.33	?	Current Ratio (TTM) :	0.39

Forward P/E Ratios

?

Forward P/E calculated based on:

Forward P/E 1Y	Forward P/E 2Y	Forward P/E 3Y	Forward P/E 4Y	Forward P/E 5Y
20.61	17.63	16.08	16.82	14.92

SWOT Analysis

No SWOT analysis available for this stock.

WABC

3.12

3.52

-0.75

-6.81

-9.02

0.02

-12.59

Trading Metrics:

Open:	45.91	Previous Close:	46.17
Day Low:	45.91	Day High:	47.61
Year Low:	42	Year High:	59.97
Price Avg 50:	48.01	Price Avg 200:	50.78
Volume:	114070	Average Volume:	182903

WABC

Westamerica Bancorporation

About The Company

Revenue Segmentation

EPS

Earnings Call

Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Current Key Metrics

Forward P/E Ratios

SWOT Analysis

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