Goldman Sachs vs Wells Fargo
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The short version
- Wells Fargo is the larger business, with $83.7B of revenue in fiscal 2025 against $58.3B for Goldman Sachs.
- Goldman Sachs grew revenue faster (8.9%, against 1.7%).
- Investors pay more for each dollar of Goldman Sachsβs earnings: a P/E of 13.5x against 12.0x for Wells Fargo.
| Latest fiscal year | GS Β· FY25 | WFC Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $278.1B | $267.1B |
| Revenue | $58.3B | $83.7B |
| Free cash flow | β | β |
| Net income | $17.2B | $21.3B |
| Growth | ||
| Revenue growth | 8.9% | 1.7% |
| 5-year growth | 5.5% | 2.4% |
| Share count change | β4.8% | β6.5% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 29.5% | 25.5% |
| FCF margin | β | β |
| Return on capital | β | β |
| Return on equity | 13.9% | 11.9% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $17.6B | $23.0B |
| Valuation & quality | ||
| P/E | 13.5x | 12.0x |
| Piotroski F-score | β | β |
Revenue
FY16
GS $30.8B
WFC $88.3B
FY17
GS $32.7B
WFC $88.4B
FY18
GS $36.6B
WFC $86.4B
FY19
GS $36.5B
WFC $85.1B
FY20
GS $44.6B
WFC $74.3B
FY21
GS $59.3B
WFC $79.2B
FY22
GS $47.4B
WFC $74.4B
FY23
GS $46.3B
WFC $82.6B
FY24
GS $53.5B
WFC $82.3B
FY25
GS $58.3B
WFC $83.7B
GS
WFC
Operating margin
FY16
GS β
WFC β
FY17
GS β
WFC β
FY18
GS β
WFC β
FY19
GS β
WFC β
FY20
GS β
WFC β
FY21
GS β
WFC β
FY22
GS β
WFC β
FY23
GS β
WFC β
FY24
GS β
WFC β
FY25
GS β
WFC β
GS
WFC
Free cash flow
FY16
GS β
WFC β
FY17
GS β
WFC β
FY18
GS β
WFC β
FY19
GS β
WFC β
FY20
GS β
WFC β
FY21
GS β
WFC β
FY22
GS β
WFC β
FY23
GS β
WFC β
FY24
GS β
WFC β
FY25
GS β
WFC β
GS
WFC
Return on capital
FY16
GS β
WFC β
FY17
GS β
WFC β
FY18
GS β
WFC β
FY19
GS β
WFC β
FY20
GS β
WFC β
FY21
GS β
WFC β
FY22
GS β
WFC β
FY23
GS β
WFC β
FY24
GS β
WFC β
FY25
GS β
WFC β
GS
WFC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.