Wells Fargo & Company (WFC) financials
NYSE · Financial Services · Banks - Diversified · 194,369 employees · CEO Charles W. Scharf
- Price
- $83.42 -1.64%
- Market cap
- $250B
- Enterprise value
- $431B
- Last report
- Q3 '26 filed 2026-10-28
- Next report
- 2027-01-14
Revenue (TTM)$130B+6.7% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)21.1%+1.4 pp vs a year agoOperating income $27.5B
Net income (TTM)$23B+9.3% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$28.9B+303.3% vs a year agoCapex $0
Diluted EPS (TTM)$7.14+17.4% vs a year agoSum of the last 4 quarters
Net cash$75.3B+369.1% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $250B EV $431B
- Revenue
- $130B Trailing 12 months
- Revenue growth
- – Next fiscal year
- Profit margin
- 17.6% Net income / revenue, TTM
- P/E
- 11.6×
- P/S
- 1.9× Price / sales, TTM
- EV / EBITDA
- 12.9× TTM
- Free cash flow
- $28.9B Trailing 12 months
- Net income
- $23B Trailing 12 months
- Revenue estimate
- – Next fiscal year
- Earnings
- 2027-01-14
- Dividend
- $1.85 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Revenue growth slowing: 4.3% year on yearQ3 '26 revenue $33.3B, against an average of 5.8% over the four quarters before.
- Operating margin 21.1% (TTM), +1.4 pp on a year agoOperating income grew 14.4% while revenue grew 6.7%.
- Capex 0.0% of revenue (a year ago 0.0%)$0 invested in the last 4 quarters (– on a year earlier). Free cash flow $28.9B = 125.6% of net income.
- Returned $20.2B to shareholders = 69.8% of free cash flowBuybacks $14.5B (a year earlier $16.5B), dividends $5.66B, stock-based pay $0 (TTM).
- Diluted share count down 5.2% in a year3.05B diluted shares in Q3 '26, 3.22B a year earlier.
- Net cash $75.3BCash + short-term investments $296B, debt incl. leases $221B; a year ago net debt $28B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $33.3B | $31.9B | +4.3% |
| Gross margin | 62.7% | 65.1% | -2.4 pp |
| Operating income | $7.1B | $6.91B | +2.7% |
| Operating margin | 21.3% | 21.7% | -0.3 pp |
| Net income | $5.95B | $5.59B | +6.5% |
| Diluted EPS | $1.87 | $1.66 | +12.7% |
| Operating cash flow | $8.87B | -$869M | +1,120.4% |
| Capex | $0 | $0 | – |
| Free cash flow | $8.87B | -$869M | +1,120.4% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $0 | $0 | – |
Revenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Consumer Banking and Lending | – | – | – | – | – | |
| Corporate and Investment Banking | – | – | – | – | – | |
| Investment Advice | $4.87B | +11.0% | 68.3% | – | – | |
| Wealth and Investment Management | – | – | – | – | – | |
| Commercial Banking | – | – | – | – | – | |
| Card Interchange And Network Revenues | $852M | -51.9% | 11.9% | – | – | |
| Deposit Account | $1.42B | +9.7% | 19.8% | – | – | |
| Reconciling Items | – | – | – | – | – | |
| Corporate | – | – | – | – | – | |
| Credit Card, Merchant Discount | -$2M | – | -0.0% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $28.9B
- Capex
- $0
- Buybacks
- -$14.5B
- Dividends
- -$5.66B
- Acquisitions
- $0
- Net debt issued
- -$71.6B
- Stock-based compensation
- $0
- Free cash flow
- $28.9B
- Returned to shareholders / FCF
- 69.8%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 11.6× | 12.0× | 9.6× – 14.6× |
| EV / EBITDA | 12.9× | 9.9× | 4.2× – 16.6× |
| EV / Sales | 3.3× | 2.7× | 1.9× – 4.4× |
| Price / FCF | 8.7× | 29.9× 3 of 5 years | 4.5× – 79.3× |
| Price / Book | 1.4× | 1.2× | 0.9× – 1.6× |
| FCF yield | 11.5% | 5.7% | -6.4% – 22.2% |
| Return on invested capital | 6.2% | 3.8% | 3.1% – 6.0% |
| Return on equity | 12.9% | 10.5% | 7.6% – 11.8% |
Analysts
Consensus target $97.14 (+16.4%)
range $92.00 – $104.00 · rating Buy
Strong buy0
Buy28
Hold28
Sell4
Strong sell0
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 361 figures Wells Fargo & Company tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities | $75.1B | $92.6B | -18.9% | $68.2B | $61.1B | +11.5% |
| Accounts Receivable, after Allowance for Credit Loss | $25.1B | $20.9B | +20.0% | $19.7B | $19.6B | +0.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$16.5B | -$7.65B | -115.9% | -$6.67B | -$12.2B | +45.2% |
| Additional Collateral, Aggregate Fair Value | $4.7B | $3.2B | +46.9% | $3.7B | $4.1B | -9.8% |
| Additional Paid in Capital | $61.5B | $61B | +0.8% | $61.3B | $60.8B | +0.8% |
| Assets | $2.25T | $2.06T | +9.2% | $2.15T | $1.93T | +11.3% |
| AssetsAverageOutstanding | $2.24T | $2.01T | +11.6% | $1.99T | $1.92T | +3.6% |
| Cash and Due from Banks | $40.6B | $34.8B | +16.5% | $39.2B | $37.1B | +5.7% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -$509M | $131M | -488.5% | -$141M | -$547M | +74.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $179B | $173B | +4.0% | $173B | $202B | -14.5% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$22.1B | -$20.6B | -7.2% | -$29.3B | -$34.2B | +14.2% |
| Collateral Already Posted, Aggregate Fair Value | $26.1B | $20.5B | +27.3% | $22.7B | $19.8B | +14.6% |
| Common Stock, Capital Shares Reserved for Future Issuance | 203M2025-12-31 | 233M | -12.9% | 203M | 233M | -12.9% |
| Common Stock, Dividends, Per Share, Declared | $0.50 | $0.45 | +11.1% | $1.70 | $1.50 | +13.3% |
| Common Stock, Par or Stated Value Per Share | $1.67 | $1.67 | 0.0% | $1.67 | $1.67 | 0.0% |
| Common Stock, Shares Authorized | 9B | 9B | 0.0% | 9B | 9B | 0.0% |
| Common Stock, Shares, Issued | 5.48B | 5.48B | 0.0% | 5.48B | 5.48B | 0.0% |
| Common Stock, Shares, Outstanding | 3B | 3.15B | -4.7% | 3.09B | 3.29B | -6.0% |
| Common Stock, Value, Issued | $9.14B | $9.14B | 0.0% | $9.14B | $9.14B | 0.0% |
| Compensation Expense, Excluding Cost of Good and Service Sold | $8.75B | $9.02B | -3.1% | $36.3B | $35.7B | +1.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$2.28B | $7.31B | -131.3% | $26.8B | $19.1B | +40.3% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$2.3B | $7.33B | -131.4% | $26.9B | $19.4B | +38.7% |
| Continuing Involvement with Transferred Financial Assets, Principal Amount Outstanding | $617M | $3.2B | -80.7% | $3.08B | $79.8B | -96.1% |
| Contractually Specified Servicing Fee, Late Fee, and Ancillary Fee Earned in Exchange for Servicing Financial Asset | $276M | $347M | -20.5% | $1.45B | $1.86B | -22.2% |
| Credit Derivative, Maximum Exposure, Undiscounted | $38B | $18.3B | +107.7% | $18.8B | $16.5B | +13.6% |
| Current Federal Tax Expense (Benefit) | – | – | – | $5.06B | $3.7B | +36.9% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $420M | $345M | +21.7% |
| Current Income Tax Expense (Benefit) | – | – | – | $5.71B | $4.31B | +32.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $231M | $268M | -13.8% |
| Debt and Equity Securities, Realized Gain (Loss) | $1.08B | $1.56B | -30.4% | $5.25B | $5.52B | -4.9% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain (Loss), before Tax | -$10.3B | -$3.35B | -208.8% | -$2.2B | -$7.63B | +71.1% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $367M | $1.29B | -71.6% | $1.86B | $155M | +1,102.6% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $11.7B | $4.52B | +158.7% | $3.99B | $7.83B | -49.0% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | $144B | $150B | -4.2% | $151B | $132B | +13.9% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | $73.8B | $42.2B | +75.1% | $47.5B | $15.5B | +205.7% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | $34.8B | $12.2B | +185.2% | $12.2B | $13.2B | -7.7% |
| Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | $3.13B | $2.03B | +54.3% | $3.2B | $1.97B | +62.7% |
| Debt Securities, Available-for-sale, Maturity, Rolling after 10 Years, Weighted Average Yield | 4.5% | 4.6% | -0.9% | 4.5% | 4.4% | +2.7% |
| Debt Securities, Available-for-sale, Maturity, Rolling after Five Through Ten Years, Weighted Average Yield | 4.2% | 4.2% | +1.2% | 4.2% | 4.1% | +2.2% |
| Debt Securities, Available-for-sale, Maturity, Rolling after One Through Five Years, Weighted Average Yield | 3.9% | 2.7% | +48.1% | 2.6% | 2.7% | -1.5% |
| Debt Securities, Available-for-sale, Maturity, Rolling within One Year, Weighted Average Yield | 3.8% | 3.7% | +2.7% | 2.9% | 2.8% | +5.4% |
| Debt Securities, Available-for-sale, Realized Gain | $46M | $4M | +1,050.0% | $32M | $32M | 0.0% |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | -$29M | $0 | – | -$144M | -$920M | +84.3% |
| Debt Securities, Available-for-sale, Realized Loss | $75M | $4M | +1,775.0% | $176M | $952M | -81.5% |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | $57M | $167M | -65.9% | $189M | $106M | +78.3% |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | $43.3B | $33.9B | +27.7% | $32.4B | $41.3B | -21.5% |
| Debt Securities, Held-to-maturity, Credit Loss Expense (Reversal) | -$4M | -$10M | +60.0% | $1M | $1M | 0.0% |
| Debt Securities, Held-to-maturity, Fair Value | $149B | $181B | -17.3% | $176B | $194B | -9.3% |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after 10 Years, Fair Value | $144B | $171B | -15.6% | $168B | $176B | -4.4% |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after Five Through Ten Years, Fair Value | $1.09B | $7.28B | -85.1% | $4.92B | $15.8B | -68.8% |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling after One Through Five Years, Fair Value | $3.86B | $2.37B | +63.2% | $2.3B | $1.55B | +47.8% |
| Debt Securities, Held-to-maturity, Maturity, Allocated and Single Maturity Date, Rolling within One Year, Fair Value | $302M | $111M | +172.1% | $129M | $201M | -35.8% |
| Debt Securities, Held-to-maturity, Maturity, Rolling after Five Through Ten Years, Weighted Average Yield | 4.0% | 5.8% | -30.5% | 5.3% | 6.2% | -14.6% |
| Debt Securities, Held-to-maturity, Maturity, Rolling after One Through Five Years, Weighted Average Yield | 4.1% | 4.8% | -13.9% | 4.8% | 4.1% | +16.8% |
| Debt Securities, Held-to-maturity, Maturity, Rolling after Ten Years, Weighted Average Yield | 2.3% | 2.4% | -0.4% | 2.4% | 2.4% | -0.8% |
| Debt Securities, Held-to-maturity, Maturity, Rolling within One Year, Weighted Average Yield | 3.0% | 1.7% | +79.8% | 1.7% | 1.2% | +43.3% |
| Debt Securities, Held-to-maturity, Purchase | $40M | $33M | +21.2% | $216M | $167M | +29.3% |
| Debt Securities, Held-to-maturity, Sold, Realized Gain (Loss), Excluding Other-than-temporary Impairment | $0 | $0 | – | $0 | $0 | – |
| Debt Securities, Trading | $157B2025-09-30 | $121B | +30.3% | $121B2024-12-31 | $97.3B | +24.6% |
| DebtSecuritiesAvailableForSaleAmortizedCostAllowanceForCreditLossExcludingAccruedInterest | $0 | $23M | -100.0% | $23M | $34M | -32.4% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30
Data as of 2026-11-01