Saturday 31 October 2026 Export WFC’s income statement to Excel — free account

Wells Fargo & Company

Wells Fargo & Company’s revenue for fiscal 2025 (year ended December 2025) was $123.5 billion, down 1.49% from fiscal 2024. In the quarter to September 2026, revenue grew 4.25%, EPS grew 17.2%, free cash flow grew 160.4% and total debt rose 2.86%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years.

83.40 1.41 −1.66%

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Market cap: $254.6B
P/E: 11.5×
Fwd P/E: 11.4×
Dividend yield: 2.82%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

Insider Decisions trades per month

Total sells 10.05

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	3	—	—	—	—	—	—	—	—

Insider Ownership 0.52%

Capital & Financial Ratios $m

Market Cap 254,570.00

Revenue 130,208.00

Net Income 22,967.00

Free Cash Flow 19,170.00

Net Debt (418,314.00)

Current Ratio 0.89

Debt/Equity 1.03

P/E ratio 11.52

Fwd P/E 11.40

P/S ratio 1.93

P/B ratio 1.57

Past 5Y EPS Growth 72.49%

This Y EPS Growth 17.15%

Next Y EPS Growth 9.81%

Next Y revenue growth (28.61%)

Next 5Y EPS Growth 13.25%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 34.48%

10-year low 10-year high

P/S against its own 10 years 30.08%

10-year low 10-year high

P/B against its own 10 years 85.75%

10-year low 10-year high

Dividends

Payout Ratio 0.33

Annual Dividend Rate 2.35

Annual Dividend Yield 2.82%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.90	0.45 0.45 0.50 0.50
2025	1.70	0.40 0.40 0.45 0.45
2024	1.50	0.35 0.35 0.40 0.40
2023	1.30	0.30 0.30 0.35 0.35
2022	1.10	0.25 0.25 0.30 0.30
2021	0.60	0.10 0.10 0.20 0.20
2020	1.22	0.51 0.51 0.10 0.10
2019	1.92	0.45 0.45 0.51 0.51
2018	1.64	0.39 0.39 0.43 0.43
2017	1.54	0.38 0.38 0.39 0.39
2016	1.52	0.38 0.38 0.38 0.38

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	414,977	477,286	596,074	601,165
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	1,341,989	1,375,848	1,568,444	1,635,459

	2023	2024	2025	Q'26
Payables	1,358,173	1,371,804	1,426,207	1,502,652
ST’ Debt	—	—	—	—
Other	—	—	—	—
	1,518,942	1,530,888	1,745,413	1,836,430

Compound Annual Growth %

	10y	5y	3y
Sales	3.21%	8.48%	13.97%
Cash Flow	0.00%	0.00%	0.00%
Earnings	(0.57%)	62.58%	17.32%
Book Value	(0.57%)	(0.29%)	0.15%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.85 Actual 1.87

1.50 1.63 1.76 1.89 2.02

Q4 FY25 Beat +0.10

Q1 FY26 Miss −0.02

Q2 FY26 Beat +0.23

Q3 FY26 Beat +0.02

Q4 FY26 — Jan 13

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	1.66	1.76	Beat by 0.10
Q1 FY26	1.58	1.56	Miss by 0.02
Q2 FY26	1.73	1.96	Beat by 0.23
Q3 FY26	1.85	1.87	Beat by 0.02
Q4 FY26	1.88	—	Reports 13 January 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.60	2.00	1.95	—	—
’25	1.39	1.60	1.66	1.62	6.26
’24	1.20	1.33	1.42	1.43	5.37
’23	1.23	1.25	1.48	0.86	4.83
’22	0.88	0.74	0.85	0.67	3.14
’21	1.05	1.38	1.17	1.38	4.95
’20	0.01	(0.93)	0.42	0.64	0.41

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	31,795	33,589	33,261	—	—
’25	29,627	30,434	31,905	31,563	123,529
’24	31,476	31,650	31,674	30,597	125,397
’23	26,749	28,200	29,845	30,546	115,340
’22	18,688	18,398	21,962	24,394	83,442
’21	19,770	21,163	19,759	22,389	83,081
’20	21,132	20,207	20,748	20,140	82,227

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9,143	6,775	—	—	—
’25	(11,037)	(11,216)	(869)	4,121	(19,001)
’24	(12,125)	2,050	4,206	8,904	3,035
’23	7,406	(755)	15,505	18,202	40,358
’22	199	7,588	12,016	7,245	27,048
’21	(3,470)	(8,062)	(4,810)	4,817	(11,525)
’20	17,273	16,119	(8,576)	(22,765)	2,051

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	9,143	6,775	—	—	—
’25	(11,037)	(11,216)	(869)	4,121	(19,001)
’24	(12,125)	2,050	4,206	8,904	3,035
’23	7,406	(755)	15,505	18,202	40,358
’22	199	7,588	12,016	7,245	27,048
’21	(3,470)	(8,062)	(4,810)	4,817	(11,525)
’20	17,273	16,119	(8,576)	(22,765)	2,051

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	43.55	49.27	43.02	43.34	20.76	29.40	36.54	35.25	46.12	58.42		+3.3%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	58.02	62.24	66.31	54.75	54.04	52.57	60.30	50.77	78.13	95.85		+5.7%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	269,100	263,000	259,000	260,000	268,531	247,848	238,000	226,000	217,000	205,000		(3.0%)	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.35	0.37	0.39	0.41	0.31	0.34	0.35	0.51	0.58	0.60		+6.2%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	94,176	97,741	101,060	105,684	82,227	83,081	83,442	115,340	125,397	123,529		+3.1%	88,182	92,918	98,134	(7.4%)
	Gross margin, %	93.73	90.43	85.50	82.16	90.32	95.29	89.13	71.61	65.63	67.76		(26.0) pt	Powerpack Wells Fargo & Company’s next three years, line by line Analysts expect revenue to shrink 7.4% a year to 2028 — slower than the 3.1% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	32,120	27,377	28,538	25,967	2,505	29,563	15,629	21,636	23,364	25,199		(2.7%)
	EBT margin, %	34.11	28.01	28.24	24.57	3.05	35.58	18.73	18.76	18.63	20.40		(13.7) pt
	Net income	22,045	22,460	22,876	20,206	3,662	23,799	13,378	19,029	19,965	21,358		(0.4%)
	Depreciation	4,970	5,406	5,593	6,573	8,219	7,890	6,832	6,271	7,558	7,713		+5.0%
Per share, $
Per share, $	Revenue	18.64	19.69	21.06	24.06	19.97	20.45	21.93	31.27	36.60	38.58		+8.4%
	Earnings	4.03	4.14	4.31	4.08	0.42	4.99	3.17	4.88	5.43	6.34		+5.2%
	Cash flow	0.20	3.75	7.52	1.53	0.50	(2.84)	7.11	10.94	0.89	(5.93)		n/m
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00		n/m
	Free cash flow	0.20	3.75	7.52	1.53	0.50	(2.84)	7.11	10.94	0.89	(5.93)		n/m
	Book value	39.68	41.91	41.06	42.79	45.10	46.80	47.89	50.82	52.85	57.17		+4.1%
	Shares, m	5,053	4,965	4,800	4,393	4,118	4,062	3,805	3,688	3,426	3,202		(4.9%)
Valuation, ×
Valuation, ×	P/E	13.90	14.86	10.40	13.25	208.28	9.58	13.14	10.15	12.91	14.70		32.1
	P/S	3.00	3.10	2.19	2.24	1.51	2.35	1.91	1.58	1.92	2.42		2.2
	P/B	1.61	1.66	1.27	1.42	0.76	1.15	0.98	1.08	1.48	1.79		1.3
	EV/Sales	1.88	1.79	1.25	1.34	(0.83)	(0.40)	0.25	(0.22)	(0.51)	(1.00)		0.4
	EV/FCF	204.47	9.46	3.53	21.47	(35.72)	2.84	0.76	(0.63)	(21.98)	6.42		19.1
Cash, $m
Cash, $m	Operating cash flow	1,008	18,619	36,073	6,730	2,051	(11,525)	27,048	40,358	3,035	(19,001)		n/m
	Capex	—	—	—	—	—	—	—	—	—	—		—
	Free cash flow	1,008	18,619	36,073	6,730	2,051	(11,525)	27,048	40,358	3,035	(19,001)		n/m
Balance, $m
Balance, $m	Working capital	(116,311)	(189,299)	(177,289)	(202,145)	(226,856)	(292,606)	(240,532)	(176,953)	(155,040)	(176,969)		+4.8%
	Total debt	255,077	225,020	229,044	228,191	212,950	160,689	174,870	207,588	173,078	174,712		(4.1%)
	Net debt	(106,087)	(128,576)	(94,439)	(94,932)	(192,429)	(228,029)	(138,478)	(207,389)	(304,208)	(421,362)		+16.6%
	Shareholders’ equity	200,497	208,079	197,066	187,984	185,712	190,110	182,213	187,443	181,066	183,038		(1.0%)
Returns, %
Returns, %	ROA	1.10	1.06	1.08	0.95	0.09	1.07	0.66	0.94	0.96	0.99		(0.1) pt
	ROIC	21.26	21.52	17.38	17.44	0.00	0.00	22.33	0.00	0.00	0.00		(21.3) pt
	ROE	11.72	11.46	11.60	10.64	1.08	12.44	7.55	10.87	11.26	12.34		+0.6 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 14 Oct 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BAC Bank of America Corporation	$354.0B	11.6×	11.4×	−0.94% (below 0%: shrinking)	−8.97% (below 0%: shrinking)	+418.04% (above 0%: growing)	62.72%	0.00%	Compare
HSBC HSBC Holdings plc	$296.8B	12.0×	—	−18.77% (below 0%: shrinking)	−24.07% (below 0%: shrinking)	+75.40% (above 0%: growing)	100.00%	0.00%	Compare
WFC Wells Fargo & Company	$254.6B	11.5×	11.4×	+4.25% (above 0%: growing)	+17.18% (above 0%: growing)	+160.40% (above 0%: growing)	65.75%	0.00%
MUFG Mitsubishi UFJ Financial Group, Inc.	$247.0B	16.8×	—	+21.62% (above 0%: growing)	+32.35% (above 0%: growing)	−145.30% (below 0%: shrinking)	61.56%	0.00%	Compare
C Citigroup Inc.	$211.0B	11.9×	10.8×	+4.08% (above 0%: growing)	+52.35% (above 0%: growing)	+33.24% (above 0%: growing)	52.26%	0.00%	Compare
SAN Banco Santander, S.A.	$170.9B	9.0×	9.4×	+4.44% (above 0%: growing)	+8.00% (above 0%: growing)	−105.65% (below 0%: shrinking)	100.00%	0.00%	Compare
SMFG Sumitomo Mitsui Financial Group Inc	$155.8B	9.1×	—	+17.73% (above 0%: growing)	+85.19% (above 0%: growing)	−63.80% (below 0%: shrinking)	58.44%	0.00%	Compare
UBS UBS Group AG	$147.4B	15.5×	13.8×	−40.29% (below 0%: shrinking)	+21.33% (above 0%: growing)	−53.01% (below 0%: shrinking)	100.00%	0.00%	Compare
BBVA Banco Bilbao Viscaya Argentaria S.A.	$132.9B	10.6×	7.7×	+23.54% (above 0%: growing)	+19.23% (above 0%: growing)	+439.38% (above 0%: growing)	100.00%	0.00%	Compare
Median of peers	$190.9B	11.7×	10.8×	+4.26%	+20.28%	−9.89%	81.36%	0.00%

All 15 Banks Diversified stocks →

Business profile

Updated 27 October 2026

Wells Fargo & Company is a Delaware financial holding company and bank holding company. Founded in 1852 and led by Chief Executive Officer Charlie Scharf, it mainly operates through subsidiaries, especially Wells Fargo Bank, N.A. Its principal subsidiary held $1.8 trillion of assets at December 31, 2025, representing 85% of company assets.

The company provides banking, investment, mortgage, consumer-finance and commercial-finance services, primarily in the United States, with operations in other countries. For individuals and small businesses, it offers checking and savings accounts, cards, and home, auto, personal and small-business loans. It also provides wealth management, brokerage, financial planning, private banking, trust and fiduciary services.

Read the full business profile →

From the latest earnings call

Updated 28 October 2026

On the second-quarter call, CEO Charlie Scharf said Wells Fargo was using efficiency savings to fund hiring, product development, artificial intelligence and cyber defenses.
CFO Michael Santomassimo said growth in interest-bearing deposits and the markets business had compressed Wells Fargo’s net interest margin, even as net interest income rose.

Read the Earnings & Analysis →

Analyst rating changes each firm’s latest, last six months

Firm	Date	Action	Rating	Target
Wells Fargo	Oct 20, 2026	Reiterated	—	160.00
Morgan Stanley	Oct 5, 2026	Upgrade	Hold → Outperform	—

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 76.74%

Held by the ten largest 42.05%

Holder	Shares	Stake	Change
Vanguard	294.10m	9.71%	−177.40k
BlackRock	250.60m	8.27%	−10.20m
Fidelity (FMR)	152.56m	5.04%	−9.14m
State Street	135.99m	4.49%	+494.36k
JPMorgan Chase	114.24m	3.77%	−14.97m
Capital Group	102.48m	3.38%	−2.98m
Geode Capital Management	73.89m	2.44%	+45.37k
Norges Bank	55.49m	1.83%	+55.49m
Morgan Stanley	53.36m	1.76%	+1.67m
Bank of America	40.88m	1.35%	−11.09m

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 18 March 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	94.52m	136.25m	347.00
2024	30.31m	70.40m	256.00
2023	25.97m	36.45m	174.00
2022	24.64m	15.96m	142.00
2021	21.35m	46.81m	161.00

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement