Washington Trust Bancorp Inc. (WASH) intrinsic value & 10-year financials
Washington Trust Bancorp Inc. (WASH) has a Graham intrinsic value of $20.06 per share. At $37.06 on Oct 17, 2026, the stock trades 85% above that value. Over the last 10 fiscal years revenue shrank 11.6% a year to $57.7M, with an average return on invested capital of 11.0%.
- Graham intrinsic value
- $20.06
- Share price (Oct 17, 2026)
- $37.06
- Price vs Graham value
- 85% above
- Market cap
- $714.6M
- Revenue (FY2025)
- $57.7M
- Revenue growth (10-yr CAGR)
- -11.6%
- ROIC (10-yr avg)
- 11.0%
- Free cash flow (FY2025)
- $78.3M
WASH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $57.7M | $52.2M | $2.71 | $78.3M | — | 10.0% |
| FY2024 | $48.2M | -$28.1M | -$1.63 | $53.7M | — | -5.8% |
| FY2023 | $44.5M | $48.2M | $2.82 | $26.6M | — | 10.4% |
| FY2022 | $48.2M | $71.7M | $4.11 | $106.9M | — | 14.1% |
| FY2021 | $51.1M | $76.9M | $4.39 | $97.3M | — | 14.0% |
| FY2020 | $45.2M | $69.8M | $4.00 | $33.1M | — | 13.5% |
| FY2019 | $45.9M | $69.1M | $3.96 | $70.3M | — | 14.5% |
| FY2018 | $47.1M | $68.4M | $3.93 | $78.9M | — | 15.9% |
| FY2017 | $48.0M | $45.9M | $2.64 | $56.6M | — | 11.4% |
| FY2016 | $175.6M | $46.5M | $2.70 | $55.6M | — | 11.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
WASHINGTON TRUST BANCORP INC is facing top-line stagnation, with revenue contracting over the decade.
WASHINGTON TRUST BANCORP INC returns on capital have been average, hovering around 11.0% ROIC over the decade.
WASHINGTON TRUST BANCORP INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, WASHINGTON TRUST BANCORP INC is modeled at 0.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $20.06 per share.