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Wells Fargo

WFC NYSE Diversified Banks Financials FY2016–FY2025

Wells Fargo's revenue rose 1.7% to $83.7 billion in fiscal 2025. Net income was $21.3 billion, up 8.2%. Its return on equity was 11.8%, up from 10.8% a year earlier. Its efficiency ratio was 65.5%, down from 66.3% a year earlier. It paid out $22.9 billion in dividends and buybacks. The diluted share count fell 6.5%.

Last close · Oct 23, 2026

$82.39

0.7%
Value it Compare
Revenue Total sales reported in the income statement.
$83.7B
1.7% vs prior year
Efficiency ratio Noninterest expense as a share of revenue. Lower is better for banks.
65.5%
0.8 pts
Net income Profit after all expenses, interest and tax.
$21.3B
8.2%
Return on equity Net income as a share of average shareholders' equity.
11.9%
1.0 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$267.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
12.0x
On $6.88 EPS (TTM)

About these figures. Wells Fargo's filings tag its loans only by category, so loan-based ratios are left blank.

What Wells Fargo does

Wells Fargo is a bank holding company that provides banking, investment and mortgage products, along with consumer and commercial finance, to individuals, businesses and institutions, primarily in the United States. Its services range from checking and savings accounts, credit and debit cards, and home, auto and personal loans to wealth management, brokerage, investment banking and trading. At December 31, 2025, it had assets of approximately $2.1 trillion, loans of $986.2 billion and deposits of $1.4 trillion. Based on assets, it says it was the fourth largest bank holding company in the United States.

It reports four segments. Consumer Banking and Lending serves consumers and small businesses. Commercial Banking serves private, family owned and certain public companies. Corporate and Investment Banking serves corporate, commercial real estate, government and institutional clients globally. Wealth and Investment Management serves affluent and very wealthy clients through financial advisors and online. It competes with other banks, credit unions, finance companies, insurers, investment banks and mutual fund companies, as well as with private credit firms and financial technology companies.

Wells Fargo is subject to a 2018 consent order with the Federal Reserve on its board's governance and oversight and on its compliance and operational risk management. On June 3, 2025, it confirmed that the Federal Reserve had removed the order's limit on growth in its total assets; the order's other provisions are still in place. It had approximately 205,000 active employees at the end of 2025, approximately 76% of them based in the United States.

Legal name
WELLS FARGO & COMPANY/MN
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 24, 2026
Accession · CIK
0000072971-26-000133
0000072971

Revenue and margins

Wells Fargo had $83.7B of revenue in fiscal 2025, up 1.7% on the year before.

Revenue
Revenue
Net interest income share and efficiency ratio
Net interest share Efficiency ratio
Net interest income share and efficiency ratio
Net interest share Efficiency ratio

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 5.1% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns and efficiency

For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.

Return on equity, return on tangible equity and efficiency ratio
ROE ROTE Efficiency ratio

Dividends, buybacks and share count

Wells Fargo returned $23.0B to shareholders in fiscal 2025. The diluted share count fell 6.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Wells Fargo yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Earnings multiple

Value per share

—

Reference multiples: today 12.0x · peers 13.9x · sector 13.7x.

Balance sheet

Loans, deposits and capital at each fiscal year end.

Loans and deposits
Loans Deposits
Fiscal year endFY21FY22FY23FY24FY25
Loans, net $882.9B————
Deposits $1.48T$1.38T$1.36T$1.37T$1.43T
Loans / deposits 59.6%————
Total assets $1.95T$1.88T$1.93T$1.93T$2.15T
Shareholders' equity $187.6B$180.2B$185.7B$179.1B$181.1B
Goodwill $25.2B$25.2B$25.2B$25.2B$25.0B
Intangible assets $0.0M$0.0M$0.0M$0.0M$0.0M
Provision / loans −0.5%————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$10.1M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Feb 26, 2026 Bridget E. EngleSr. Executive Vice President Sold 30,000 $87.10 $2.6M Form 4
Feb 26, 2026 Ellen R PattersonSr. EVP and General Counsel Sold 60,000 $87.40 $5.2M Form 4
Feb 20, 2026 Kleber SantosSr. Executive Vice President Sold 25,000 $87.72 $2.2M Form 4

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Wells Fargo WFC $267.1B 1.7% — — — 12.0x —
JPMorgan Chase JPM $922.3B 2.8% — — — 14.2x — Compare →
Bank of America BAC $388.3B 6.8% — — — 11.7x — Compare →
Citigroup C $225.9B 5.6% — — — 17.3x — Compare →
Goldman Sachs GS $278.1B 8.9% — — — 13.5x — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $88.3B $88.4B $86.4B $85.1B $74.3B $79.2B $74.4B $82.6B $82.3B $83.7B
Net interest income $47.8B $49.6B $50.0B $47.3B $40.0B $35.8B $45.0B $52.4B $47.7B $47.5B
Noninterest income $40.5B $38.8B $36.4B $39.5B $34.3B $43.4B $29.4B $30.2B $34.6B $36.2B
Noninterest expense $52.4B $58.5B $56.1B $58.2B $57.6B $53.8B $57.2B $55.6B $54.6B $54.8B
Provision for credit losses $3.8B $2.5B $1.7B $2.7B $14.1B −$4.2B $1.5B $5.4B $4.3B $3.7B
Pretax income $32.1B $27.4B $28.5B $26.0B $2.5B $29.6B $15.6B $21.6B $23.4B $25.2B
Income tax $10.1B $4.9B $5.7B $5.8B −$1.2B $5.8B $2.3B $2.6B $3.4B $3.8B
Net income $21.9B $22.2B $22.4B $19.7B $3.4B $22.1B $13.7B $19.1B $19.7B $21.3B
Net income to common $20.4B $20.6B $20.7B $18.1B $1.8B $20.8B $12.6B $18.0B $18.6B $20.3B
Diluted EPS $3.99 $4.10 $4.28 $4.09 $0.43 $5.08 $3.27 $4.83 $5.37 $6.26
Diluted shares 5.11B 5.02B 4.84B 4.43B 4.13B 4.10B 3.84B 3.72B 3.47B 3.24B
Cash flow
Stock-based compensation $779M $849M $1.0B $1.2B $622M $1.0B $978M $1.1B $1.3B $1.5B
Share buybacks $8.1B $9.9B $20.6B $24.5B $3.4B $14.5B $6.0B $11.9B $19.4B $17.5B
Dividends paid $7.5B $7.5B $7.7B $8.2B $4.9B $2.4B $4.2B $4.8B $5.1B $5.4B
Dividends and buybacks $15.6B $17.4B $28.3B $32.7B $8.3B $16.9B $10.2B $16.6B $24.6B $23.0B
Balance sheet
Loans, net $956.2B $945.8B $943.3B $952.7B $869.1B $882.9B — — — —
Deposits $1.31T $1.34T $1.29T $1.32T $1.40T $1.48T $1.38T $1.36T $1.37T $1.43T
Goodwill $26.7B $26.6B $26.4B $26.4B $26.4B $25.2B $25.2B $25.2B $25.2B $25.0B
Intangible assets $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Total assets $1.93T $1.95T $1.90T $1.93T $1.95T $1.95T $1.88T $1.93T $1.93T $2.15T
Preferred stock $24.6B $25.4B $23.2B $21.5B $21.1B $20.1B $19.4B $19.4B $18.6B $16.6B
Shareholders' equity $199.6B $206.9B $196.2B $187.1B $184.7B $187.6B $180.2B $185.7B $179.1B $181.1B
Margins
Net margin 24.9% 25.1% 25.9% 23.2% 4.6% 27.9% 18.4% 23.2% 24.0% 25.5%
Net interest share of revenue 54.1% 56.1% 57.9% 55.6% 53.8% 45.2% 60.4% 63.4% 57.9% 56.7%
Efficiency ratio 59.3% 66.2% 65.0% 68.4% 77.6% 67.9% 76.9% 67.3% 66.3% 65.5%
Returns
Return on equity 11.2% 10.9% 11.1% 10.3% 1.8% 11.9% 7.4% 10.5% 10.8% 11.9%
Return on assets 1.2% 1.1% 1.2% 1.0% 0.2% 1.1% 0.7% 1.0% 1.0% 1.1%
Return on tangible equity 13.9% 13.6% 13.7% 12.7% 1.3% 14.9% 9.0% 13.0% 13.5% 14.8%
Growth
Revenue growth 2.6% 0.1% −2.2% −1.6% −12.7% 6.6% −6.1% 11.1% −0.4% 1.7%
Net income growth −4.2% 1.1% 1.0% −12.0% −82.9% 554.7% −38.1% 40.0% 3.0% 8.2%
EPS growth −3.2% 2.8% 4.4% −4.4% −89.5% 1,081.4% −35.6% 47.7% 11.2% 16.6%
Share count change −2.0% −1.8% −3.6% −8.5% −6.6% −0.9% −6.3% −3.0% −6.8% −6.5%
Financial health
Loans / deposits 73.2% 70.8% 73.3% 72.0% 61.9% 59.6% — — — —
Provision / loans 0.4% 0.3% 0.2% 0.3% 1.6% −0.5% — — — —
Capital allocation
Stock comp / revenue 0.9% 1.0% 1.2% 1.4% 0.8% 1.3% 1.3% 1.4% 1.6% 1.8%

Source: SEC EDGAR XBRL filings (CIK 0000072971). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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