Wells Fargo (WFC)
Financials · $253B market cap · SEC CIK 0000072971
fundamentals score out of 100
Next reports on Oct 13, 2026, before the open, with analysts expecting $1.87 in earnings per share.
The case for WFC
- Cheap on earnings at 11.2×, well under the market's usual 20×.
- 22% of revenue drops through to net profit.
- A PEG of 0.66: a P/E of 11.2× is low for EPS growing 17%.
- Pays a modest 2.3% dividend.
The case against
- Revenue has shrunk 1.7% a year over five years.
- Weakest against its peers: return on equity of 13% is lower than 61% of Financials companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 77 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 25 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 58 |
| Momentumhow the price has behaved lately | 51 |
| Stabilityhow violently it moves, what it owes and what it pays you | 67 |
- Its one-year revenue change (+73%) is far out of line with its five-year trend (-2% a year). In the Financials sector that is usually interest income swinging with rates rather than growth, so only the five-year figure is used.
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 11.2× |
|---|---|
| Price / book | 1.39× |
| Price / sales | 1.9× |
| Revenue growth (YoY) | +72.7% (not used: out of line with the five-year -1.7% a year) |
| EPS growth (YoY) | +16.9% |
| Gross margin | — |
| Operating margin | 25% |
| Net margin | 22% |
| Return on equity | 13% |
| Debt / equity | 2.55× |
| Current ratio | n/a |
| Dividend yield | 2.27% |
| Beta | 0.95 |
| 52-week range | $72.78 – $97.76 |
| Position in that range | 42% of the way up |
| 3-month return | +5.3% |
| 1-year return | +2.2% |
Five years of financials, as filed
Pulled from Wells Fargo's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Net income | $21.3B | $19.7B | $19.1B | $13.7B | $22.1B |
| Operating cash flow | -$19.0B | $3.0B | $40.4B | $27.0B | -$11.5B |
| Total assets | $2.15T | $1.93T | $1.93T | $1.88T | $1.95T |
| Total liabilities | $1.97T | $1.75T | $1.75T | $1.70T | $1.76T |
| Shareholder equity | $181B | $179B | $186B | $180B | $188B |
| Cash | $173B | $202B | $236B | $159B | $234B |
| Long-term debt | $175B | $173B | $208B | $175B | $161B |
| Net margin | — | — | — | — | — |
| Diluted shares | 3.2B | 3.5B | 3.7B | 3.8B | 4.1B |
Share count is down 20.8% over 4 years. Buybacks have been shrinking the pie.
What Wells Fargo says it does
Wells Fargo & Company is a corporation organized under the laws of Delaware and a financial holding company and a bank holding company registered under the Bank Holding Company Act of 1956, as amended (BHC Act). Its principal business is to act as a holding company for its subsidiaries. References in this report to "the Parent" mean the holding company. References to "we," "our," "us" or "the Company" mean the holding company and its subsidiaries that are consolidated for financial reporting purposes. At December 31, 2025, we had assets of approximately $2.1 trillion, loans of $986.2 billion, deposits of $1.4 trillion and stockholders’ equity of $181.1 billion. Based on assets, we were the fourth largest bank holding company in the United States. At December 31, 2025, Wells Fargo Bank, N.A. (the Bank) was the Company’s principal subsidiary with assets of $1.8 trillion, or 85% of the Company’s assets. Our annual reports on Form 10-K,…
Risk factors WFC lists in its 10-K
- Consent Orders and Other Regulatory Actions
- Federal Reserve Board Consent Order Regarding Governance Oversight and Compliance and Operational Risk Management
- Formal Agreement with the OCC Regarding Anti-Money Laundering and Sanctions Risk Management Practices
- Parent Bank Holding Company Activities
- Transfer of Funds from Subsidiary Banks
- Liability of Commonly Controlled Institutions
- Enhanced supervision and regulation of systemically important firms
- Regulatory Capital, Leverage and Liquidity Requirements
- "Living Will" Requirements and Related Matters
- Dividend and Share Repurchase Restrictions
- Privacy Provisions and the Sharing of Personal Financial Data
- Regulation of Consumer Financial Products
- Regulation of Swaps and Other Derivatives Activities