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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $208.8M, roughly 1.6× Bandwidth Inc.). Bandwidth Inc. runs the higher net margin — 1.9% vs -12.9%, a 14.8% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs -0.4%). Bandwidth Inc. produced more free cash flow last quarter ($-1.0M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 9.7%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
BAND vs WD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $340.0M |
| Net Profit | $4.0M | $-13.9M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | -17.2% |
| Net Margin | 1.9% | -12.9% |
| Revenue YoY | 20.1% | -0.4% |
| Net Profit YoY | 200.0% | -131.0% |
| EPS (diluted) | $-0.08 | $-0.41 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $208.8M | — | ||
| Q4 25 | $207.7M | $340.0M | ||
| Q3 25 | $191.9M | $337.7M | ||
| Q2 25 | $180.0M | $319.2M | ||
| Q1 25 | $174.2M | $237.4M | ||
| Q4 24 | $210.0M | $341.5M | ||
| Q3 24 | $193.9M | $292.3M | ||
| Q2 24 | $173.6M | $270.7M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $-13.9M | ||
| Q3 25 | $-1.2M | $33.5M | ||
| Q2 25 | $-4.9M | $34.0M | ||
| Q1 25 | $-3.7M | $2.8M | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | $413.0K | $28.8M | ||
| Q2 24 | $4.1M | $22.7M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | — | ||
| Q3 25 | 38.5% | — | ||
| Q2 25 | 39.8% | — | ||
| Q1 25 | 41.0% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 37.3% | — |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | -17.2% | ||
| Q3 25 | -1.0% | 13.6% | ||
| Q2 25 | -2.1% | 14.5% | ||
| Q1 25 | -2.7% | 2.2% | ||
| Q4 24 | -1.3% | 15.3% | ||
| Q3 24 | -0.5% | 12.8% | ||
| Q2 24 | -3.5% | 10.4% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | -12.9% | ||
| Q3 25 | -0.6% | 9.9% | ||
| Q2 25 | -2.7% | 10.6% | ||
| Q1 25 | -2.1% | 1.2% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | 0.2% | 9.9% | ||
| Q2 24 | 2.3% | 8.4% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $-0.41 | ||
| Q3 25 | $-0.04 | $0.98 | ||
| Q2 25 | $-0.16 | $0.99 | ||
| Q1 25 | $-0.13 | $0.08 | ||
| Q4 24 | $0.27 | $1.32 | ||
| Q3 24 | $0.01 | $0.85 | ||
| Q2 24 | $-0.17 | $0.67 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $299.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $1.7B |
| Total Assets | $984.2M | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $299.3M | ||
| Q3 25 | $80.4M | $274.8M | ||
| Q2 25 | $68.1M | $233.7M | ||
| Q1 25 | $41.7M | $181.0M | ||
| Q4 24 | $83.8M | $279.3M | ||
| Q3 24 | $79.9M | $179.8M | ||
| Q2 24 | $76.4M | $208.1M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $1.7B | ||
| Q3 25 | $392.7M | $1.8B | ||
| Q2 25 | $384.5M | $1.8B | ||
| Q1 25 | $345.4M | $1.7B | ||
| Q4 24 | $312.5M | $1.7B | ||
| Q3 24 | $336.6M | $1.7B | ||
| Q2 24 | $307.4M | $1.7B |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $5.1B | ||
| Q3 25 | $1.0B | $5.8B | ||
| Q2 25 | $1.0B | $4.7B | ||
| Q1 25 | $964.4M | $4.5B | ||
| Q4 24 | $989.2M | $4.4B | ||
| Q3 24 | $1.0B | $4.6B | ||
| Q2 24 | $1.0B | $4.2B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-664.3M |
| Free Cash FlowOCF − Capex | $-1.0M | $-680.1M |
| FCF MarginFCF / Revenue | -0.5% | -200.0% |
| Capex IntensityCapex / Revenue | — | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $-664.3M | ||
| Q3 25 | $22.2M | $-948.1M | ||
| Q2 25 | $31.7M | $-238.5M | ||
| Q1 25 | $-3.1M | $-281.1M | ||
| Q4 24 | $36.5M | $129.4M | ||
| Q3 24 | $20.5M | $-202.0M | ||
| Q2 24 | $24.4M | $-237.8M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $-680.1M | ||
| Q3 25 | — | $-950.4M | ||
| Q2 25 | — | $-241.0M | ||
| Q1 25 | — | $-284.7M | ||
| Q4 24 | — | $116.4M | ||
| Q3 24 | — | $-204.0M | ||
| Q2 24 | — | $-241.7M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | -200.0% | ||
| Q3 25 | — | -281.5% | ||
| Q2 25 | — | -75.5% | ||
| Q1 25 | — | -120.0% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | -69.8% | ||
| Q2 24 | — | -89.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 1.5% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | 49.55× | -7.01× | ||
| Q2 24 | 6.03× | -10.49× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
