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Wells Fargo & Company

WFC Financial Banks Diversified

Wells Fargo & Company’s revenue for fiscal 2025 (year ended December 2025) was $123.5 billion, down 1.49% from fiscal 2024.

Revenue
+4.25%
EPS
+12.5%
Free cash flow
+1,120.4%
Total debt
+2.86%

Quarter to September 2026, against a year earlier

84.50 0.20 +0.24%
Market cap
$254.6B
P/E
11.9×
Fwd P/E
11.4×
Dividend yield
2.76%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Wells Fargo & Company (WFC) valuation and DCF model

What the price implies · reverse DCF

At $84.50 the price implies 16.9% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 1.7% a year over the last ten years, 7.4% over the last five. The price asks for more than four times its ten-year rate. Return on equity averaged 10.1% over ten years; the price implies 11.8% for good.

Price implies
16.9%
Last 5 years, reported
7.4%
Last 10 years, reported
1.7%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
16.9% a year for ten years
$84.50
today’s price
Its base case
1.7% a year for five years, then 1.0%
$26.30
68.9% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Wells Fargo & Company’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 16.9% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Wells Fargo & Company’s own cost of capital: risk-free 4.3% + beta 0.92 × equity premium 4.5% = 8.4% cost of equity; weighted, 8.4%.

Use 8.4%
Base case value per share $26.30 ten years discounted, and what follows
Current price $84.50 market price per share
Below today’s price 68.9% downside at the base case’s assumptions

How we got there$12.51 10 years of dividends+$13.79 terminal value=$26.30 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Banks Diversified).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 11.86× 12.55× 31.91× 63% below 11.69× 1% above
P/FCF 8.91× 33.54× 61.47× 86% below 8.83× 1% above
P/B 1.59× 1.39× 1.32× 21% above 1.53× 4% above
EV/Sales — 1.30× 1.30× — 3.90× —
P/E P/FCF P/B EV/Sales
13.78×107.98×202.18×296.37×10Y avg 61.47×201620172018201920202022202320242026

WFC trades at 8.91× P/FCF, against a 10-year average of 61.47× (range 4.52×–327.12×). That is cheaper than 63% of the last 8 year-end readings; re-rating to the average implies $582.86 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.