Western Alliance [WAL] vs Old National Bancorp [ONB] Detailed Stock Comparison

Western Alliance Bancorporation

NYSE
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Old National Bancorp

NASDAQ
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TLDR: Quick Comparison Summary

Based on 19 vital metrics comparison: Western Alliance Bancorporation wins in 8 metrics, Old National Bancorp wins in 10 metrics, with 0 ties. Old National Bancorp appears stronger overall.

View Metrics Details

Vital Metrics Comparison

Metric Western Alliance Bancorporation Old National Bancorp Better
P/E Ratio (TTM) 9.31 12.38 Western Alliance Bancorporation
Price-to-Book Ratio 1.17 1.13 Old National Bancorp
Debt-to-Equity Ratio 0.86 0.92 Western Alliance Bancorporation
PEG Ratio -1.14 0.75 Old National Bancorp
Profit Margin (TTM) 28.18% 30.25% Old National Bancorp
Operating Margin (TTM) 31.77% 51.26% Old National Bancorp
EBITDA Margin (TTM) 31.77% 51.26% Old National Bancorp
Return on Equity 12.97% 10.08% Western Alliance Bancorporation
Return on Assets (TTM) 1.08% 1.20% Old National Bancorp
Free Cash Flow (TTM) $-2.79B $637.41M Old National Bancorp
Dividend Yield 1.83% 2.87% Old National Bancorp
1-Year Return 10.00% 15.10% Old National Bancorp
Price-to-Sales Ratio (TTM) 2.57 3.73 Western Alliance Bancorporation
Enterprise Value $7.49B $15.34B Old National Bancorp
EV/Revenue Ratio 2.22 6.12 Western Alliance Bancorporation
Revenue per Share (TTM) $31 $7 Western Alliance Bancorporation
Earnings per Share (Diluted) $8.59 $1.94 Western Alliance Bancorporation
Beta (Stock Volatility) 1.37 N/A N/A
Short % of Float 0.06% 7.27% Western Alliance Bancorporation

Western Alliance Bancorporation vs Old National Bancorp Stock Performance Analysis

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WAL
ONB

Performance Comparison

Short-term Returns

Stock1D1W1M3M6MYTD
Western Alliance Bancorporation-3.05%0.78%0.44%-1.52%-1.88%-6.17%
Old National Bancorp-2.26%-1.69%0.29%1.27%10.52%5.76%

Long-term Returns

Stock1Y3Y5Y10Y15Y20Y
Western Alliance Bancorporation10.00%109.88%-22.11%112.63%1,059.39%121.25%
Old National Bancorp15.10%79.05%26.30%82.72%133.33%21.75%

Performance & Financial Health Analysis: Western Alliance Bancorporation vs Old National Bancorp

MetricWALONB
Market Information
Market Cap i$8.80B$9.35B
Market Cap CategoryMid capMid cap
10 Day Avg. Volume i1,002,7173,441,018
90 Day Avg. Volume i1,237,7563,308,019
Last Close$77.75$23.31
52 Week Range$65.82 - $97.23$19.39 - $26.17
% from 52W High-20.03%-10.93%
All-Time High$124.93 (Jan 10, 2022)$28.49 (Dec 21, 1998)
% from All-Time High-37.77%-18.18%
Growth Metrics
Quarterly Revenue Growth0.08%0.46%
Quarterly Earnings Growth-0.09%0.62%
Financial Health
Profit Margin (TTM) i0.28%0.30%
Operating Margin (TTM) i0.32%0.51%
Return on Equity (TTM) i0.13%0.10%
Debt to Equity (MRQ) i0.860.92
Cash & Liquidity
Book Value per Share (MRQ)$68.06$21.21
Cash per Share (MRQ)$79.35$4.55
Operating Cash Flow (TTM) i$-2,950,700,000$806.44M
Levered Free Cash Flow (TTM) i$956.20M$653.12M
Dividends
Last 12-Month Dividend Yield i1.83%2.87%
Last 12-Month Dividend i$1.60$0.70

Valuation & Enterprise Metrics Analysis: Western Alliance Bancorporation vs Old National Bancorp

MetricWAL (Apr 24, 2026)ONB (Apr 24, 2026)
Price Ratios
P/E Ratio (TTM) i9.3112.38
Forward P/E i6.838.29
PEG Ratio i-1.140.75
Price to Sales (TTM) i2.573.73
Price to Book (MRQ) i1.171.13
Market Capitalization
Market Capitalization i$8.80B$9.35B
Enterprise Value i$7.49B$15.34B
Enterprise Value Metrics
Enterprise to Revenue i2.226.12
Enterprise to EBITDA iN/AN/A
Risk & Other Metrics
Beta i1.37N/A
Book Value per Share (MRQ) i$68.06$21.21

Financial Statements Comparison: Western Alliance Bancorporation vs Old National Bancorp

Financial Metrics

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Revenue

Operating Margin

Profit Margin

Long Term Debt

Income Flow Analysis

Financial Statements Comparison

Income Statement

MetricWAL (2025)ONB (2025)
Revenue/Sales i3.47B2.52B
Cost of Goods Sold iN/AN/A
COGS % of Revenue i0.0%0.0%
Gross Profit iN/AN/A
Gross Margin i0.0%0.0%
Research & Development iN/AN/A
Operating Income (EBIT) iN/AN/A
Operating Margin i0.0%0.0%
EBITDA iN/AN/A
EBITDA Margin i0.0%0.0%
Pre-Tax Income i1.21B841.39M
Pre-Tax Income % of Revenue i34.8%33.3%
Income Tax i216.60M172.14M
Income Tax % of Revenue i6.2%6.8%
Net Income (Profit) i990.60M669.26M
Profit Margin i28.5%26.5%

Balance Sheet & Liquidity Metrics

MetricWAL (2025)ONB (2025)
Cash & Equivalents i3.60B1.83B
Total Current Assets iN/AN/A
Total Current Assets % of Revenue i0.0%0.0%
Total Current Liabilities iN/AN/A
Total Current Liabilities % of Revenue i0.0%0.0%
Long-Term Debt i2.63B7.09B
Long-Term Debt % of Revenue i75.7%280.9%
Total Shareholders Equity i7.95B8.49B
Retained Earnings i5.61B2.41B
Retained Earnings % of Revenue i161.4%95.4%
Property, Plant & Equipment i131.00MN/A

Cash Flow Statement Comparison

MetricWAL (2025)ONB (2025)
Operating Cash Flow i-2.95B806.44M
Operating Cash Flow % of Revenue i-84.9%31.9%
Capital Expenditures i-114.30M-41.70M
Free Cash Flow i-2.79B637.41M
FCF Margin i-80.4%25.2%
Debt Repayment i-8.45B-2.57B
Common Stock Repurchase i-68.10M-71.80M

Short Interest & Institutional Ownership Analysis

MetricWALONB
Shares Short i67,23322.06M
Short Ratio i0.046.68
Short % of Float i0.06%7.27%
Shares Outstanding i108.67M389.66M
Float Shares i102.02M382.68M
% Held by Insiders i2.71%0.68%
% Held by Institutions i89.21%97.76%
% Held by Public i8.08%1.56%

Dividend Analysis & Yield Comparison: Western Alliance Bancorporation vs Old National Bancorp

MetricWALONB
Last 12-Month Dividend i$1.60$0.70
Last 12-Month Dividend Yield i1.83%2.87%
3-Year Avg Annual Dividend i$1.52$0.61
3-Year Avg Dividend Yield i0.60%0.76%
3-Year Total Dividends i$4.56$1.82
Ex-Dividend DateFeb 20, 2026Mar 05, 2026