XML 89 R75.htm IDEA: XBRL DOCUMENT v3.25.4
SEGMENTS - Reportable Segments (Details)
12 Months Ended
Dec. 31, 2025
USD ($)
segment
$ / shares
Dec. 31, 2024
USD ($)
segment
$ / shares
Dec. 31, 2023
USD ($)
segment
$ / shares
Segments      
Number of reportable segments | segment 3 3 3
Revenues      
Total revenues $ 1,234,306,000 $ 1,132,490,000 $ 1,054,440,000
Expenses      
Personnel 647,809,000 559,246,000 514,290,000
Amortization and depreciation 238,682,000 237,549,000 226,752,000
Provision (benefit) for credit losses 9,586,000 10,839,000 (10,452,000)
Interest expense on corporate debt 64,715,000 69,686,000 68,476,000
Goodwill impairment 0 33,000,000 62,000,000
Fair value adjustments to contingent consideration liabilities (8,243,000) (50,321,000) (62,500,000)
Indemnified and repurchased loan expenses 40,850,000 10,573,000  
Asset impairments and other expenses 36,746,000 1,181,000 (607,000)
Other operating expenses 125,163,000 129,236,000 118,284,000
Total expenses 1,155,308,000 1,000,989,000 916,243,000
Income before taxes 78,998,000 131,501,000 138,197,000
Income tax expense (benefit) 22,013,000 30,543,000 35,026,000
Net income before noncontrolling interests and temporary equity holders 56,985,000 100,958,000 103,171,000
Less: net income (loss) from noncontrolling interests (99,000) (7,209,000) (4,186,000)
Less: net income (loss) attributable to temporary equity holders 837,000    
Walker & Dunlop net income 56,247,000 108,167,000 107,357,000
Total assets $ 5,059,478,000 $ 4,381,993,000 $ 4,052,347,000
Diluted EPS | $ / shares $ 1.64 $ 3.19 $ 3.18
Operating margin 6.00% 12.00% 13.00%
Loan origination and debt brokerage fees, net      
Revenues      
Total revenues $ 342,149,000 $ 276,562,000 $ 234,409,000
Fair value of expected net cash flows from servicing, net of guaranty obligation      
Revenues      
Total revenues 179,681,000 153,593,000 141,917,000
Servicing fees      
Revenues      
Total revenues 337,442,000 325,644,000 311,914,000
Property sales broker fees      
Revenues      
Total revenues 83,519,000 60,583,000 53,966,000
Investment management fees      
Revenues      
Total revenues 34,629,000 36,976,000 45,381,000
Net warehouse interest income (expense)      
Revenues      
Total revenues (5,490,000) (7,033,000) (5,633,000)
Placement fees and other interest income      
Revenues      
Total revenues 152,584,000 167,961,000 154,520,000
Other revenues      
Revenues      
Total revenues 109,792,000 118,204,000 117,966,000
Capital Markets      
Expenses      
Goodwill impairment   33,000,000  
Servicing and Asset Management      
Expenses      
Goodwill impairment 0 0  
Operating Segments | Capital Markets      
Revenues      
Total revenues 646,950,000 524,841,000 476,766,000
Expenses      
Personnel 475,286,000 399,256,000 375,450,000
Amortization and depreciation 4,579,000 4,551,000 4,550,000
Interest expense on corporate debt 17,506,000 19,489,000 18,779,000
Goodwill impairment   33,000,000 62,000,000
Fair value adjustments to contingent consideration liabilities   (39,491,000) (62,500,000)
Asset impairments and other expenses 2,742,000 460,000 (1,157,000)
Other operating expenses 21,162,000 20,284,000 21,151,000
Total expenses 521,275,000 437,549,000 418,273,000
Income before taxes 125,675,000 87,292,000 58,493,000
Income tax expense (benefit) 35,019,000 20,275,000 14,824,000
Net income before noncontrolling interests and temporary equity holders 90,656,000 67,017,000 43,669,000
Less: net income (loss) from noncontrolling interests   353,000 2,489,000
Less: net income (loss) attributable to temporary equity holders 837,000    
Walker & Dunlop net income 89,819,000 66,664,000 41,180,000
Total assets $ 2,031,815,000 $ 1,407,206,000 $ 1,193,137,000
Diluted EPS | $ / shares $ 2.62 $ 1.97 $ 1.22
Operating margin 19.00% 17.00% 12.00%
Operating Segments | Capital Markets | Loan origination and debt brokerage fees, net      
Revenues      
Total revenues $ 336,947,000 $ 271,996,000 $ 232,625,000
Operating Segments | Capital Markets | Fair value of expected net cash flows from servicing, net of guaranty obligation      
Revenues      
Total revenues 179,681,000 153,593,000 141,917,000
Operating Segments | Capital Markets | Property sales broker fees      
Revenues      
Total revenues 83,519,000 60,583,000 53,966,000
Operating Segments | Capital Markets | Net warehouse interest income (expense)      
Revenues      
Total revenues (5,490,000) (8,780,000) (9,497,000)
Operating Segments | Capital Markets | Other revenues      
Revenues      
Total revenues 52,293,000 47,449,000 57,755,000
Operating Segments | Servicing and Asset Management      
Revenues      
Total revenues 566,564,000 591,649,000 563,843,000
Expenses      
Personnel 89,552,000 83,050,000 74,407,000
Amortization and depreciation 225,640,000 226,067,000 214,978,000
Provision (benefit) for credit losses 9,586,000 10,839,000 (10,452,000)
Interest expense on corporate debt 41,345,000 43,834,000 42,489,000
Fair value adjustments to contingent consideration liabilities (8,243,000) (10,830,000)  
Indemnified and repurchased loan expenses 40,850,000 10,573,000  
Asset impairments and other expenses 28,584,000 721,000 550,000
Other operating expenses 21,398,000 31,770,000 28,032,000
Total expenses 448,712,000 396,024,000 350,004,000
Income before taxes 117,852,000 195,625,000 213,839,000
Income tax expense (benefit) 32,839,000 45,437,000 54,198,000
Net income before noncontrolling interests and temporary equity holders 85,013,000 150,188,000 159,641,000
Less: net income (loss) from noncontrolling interests (99,000) (7,562,000) (6,675,000)
Walker & Dunlop net income 85,112,000 157,750,000 166,316,000
Total assets $ 2,425,954,000 $ 2,439,986,000 $ 2,273,033,000
Diluted EPS | $ / shares $ 2.48 $ 4.65 $ 4.93
Operating margin 21.00% 33.00% 38.00%
Operating Segments | Servicing and Asset Management | Loan origination and debt brokerage fees, net      
Revenues      
Total revenues $ 5,202,000 $ 4,566,000 $ 1,784,000
Operating Segments | Servicing and Asset Management | Servicing fees      
Revenues      
Total revenues 337,442,000 325,644,000 311,914,000
Operating Segments | Servicing and Asset Management | Investment management fees      
Revenues      
Total revenues 34,629,000 36,976,000 45,381,000
Operating Segments | Servicing and Asset Management | Net warehouse interest income (expense)      
Revenues      
Total revenues   1,747,000 3,864,000
Operating Segments | Servicing and Asset Management | Placement fees and other interest income      
Revenues      
Total revenues 137,864,000 153,350,000 141,374,000
Operating Segments | Servicing and Asset Management | Other revenues      
Revenues      
Total revenues 51,427,000 69,366,000 59,526,000
Operating Segments | Corporate      
Revenues      
Total revenues 20,792,000 16,000,000 13,831,000
Expenses      
Personnel 82,971,000 76,940,000 64,433,000
Amortization and depreciation 8,463,000 6,931,000 7,224,000
Interest expense on corporate debt 5,864,000 6,363,000 7,208,000
Asset impairments and other expenses 5,420,000    
Other operating expenses 82,603,000 77,182,000 69,101,000
Total expenses 185,321,000 167,416,000 147,966,000
Income before taxes (164,529,000) (151,416,000) (134,135,000)
Income tax expense (benefit) (45,845,000) (35,169,000) (33,996,000)
Net income before noncontrolling interests and temporary equity holders (118,684,000) (116,247,000) (100,139,000)
Walker & Dunlop net income (118,684,000) (116,247,000) (100,139,000)
Total assets $ 601,709,000 $ 534,801,000 $ 586,177,000
Diluted EPS | $ / shares $ (3.46) $ (3.43) $ (2.97)
Operating margin (791.00%) (946.00%) (970.00%)
Operating Segments | Corporate | Placement fees and other interest income      
Revenues      
Total revenues $ 14,720,000 $ 14,611,000 $ 13,146,000
Operating Segments | Corporate | Other revenues      
Revenues      
Total revenues $ 6,072,000 $ 1,389,000 $ 685,000