WFC
SP100NYSEWells Fargo & Company
Financial Services · Banks - Diversified · United States
Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The company's financial products and services includes checking and savings accounts, and credit and debit cards, as well as home, auto, personal, and small business lending services. It also provides personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services; and financial solutions to private, family owned and public companies through products and services including banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management. In addition, it offers a suite of capital markets, banking, and financial products and services, such as corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity, and fixed income solutions, as well as sales, trading, and research capabilities services to corporate, commercial real estate, government, and institutional clients. Wells Fargo & Company was founded in 1852 and is headquartered in San Francisco, California.
www.wellsfargo.com ↗Shares trade at a low 13.2× trailing earnings, easing to 10.8× on forward estimates. Profitability shows a net margin of 26.7% and return on equity of 12.0%. Debt/equity stands at 2.59×. Revenue grew 5.7% year-on-year. It yields 2.1% in dividends. The mean analyst target of USD96.52 sits 12.9% above the current price (Buy, 22 analysts).
business model
Wells Fargo is a large diversified US bank offering consumer and small-business banking, commercial and corporate banking, mortgage and consumer lending, and wealth and investment management. It earns net interest income from a large deposit and loan base plus fee income from cards, mortgages, and advisory/wealth services.
revenue segments
Operates through four segments: Consumer Banking and Lending (deposits, cards, auto, home lending), Commercial Banking (middle-market and small business), Corporate and Investment Banking (banking, markets, commercial real estate), and Wealth and Investment Management.
key dependencies
Depends on net interest margins and the rate cycle, deposit franchise stability, loan credit quality, mortgage market conditions, expense discipline, and regulatory posture, including the Federal Reserve asset cap imposed after prior misconduct.
competitors
Competes with the other US megabanks (JPMorgan Chase, Bank of America, Citigroup), super-regional banks (PNC, U.S. Bancorp, Truist), and nonbank lenders and fintechs.
moat
A very large low-cost deposit base and nationwide branch network, scale, entrenched consumer and commercial relationships, and cross-sell breadth across banking, cards and wealth.
risks
Regulatory constraints (the Federal Reserve asset cap limited balance-sheet growth until its 2025 removal), remediation and compliance costs from past sales-practice scandals, credit exposure (including commercial real estate), interest-rate and deposit-cost sensitivity, and reputational overhang.
Financials & metrics
as of 28 Aug 2026Price is around the middle of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total revenue | $83.70B | $82.30B | $82.60B | $74.37B | — |
| Interest expense | $39.83B | $43.10B | $32.74B | $9.07B | — |
| Pretax income | $25.20B | $23.36B | $21.64B | $15.63B | — |
| Tax provision | $3.84B | $3.40B | $2.61B | $2.25B | — |
| Net income | $21.34B | $19.72B | $19.14B | $13.68B | — |
| Diluted EPS | $6.26 | $5.37 | $4.83 | $3.14 | — |
Balance sheet
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | $2.15T | $1.93T | $1.93T | $1.88T | — |
| Cash & equivalents | $174.21B | $203.36B | $237.22B | $159.16B | — |
| Total liabilities | $1.97T | $1.75T | $1.75T | $1.70T | — |
| Total debt | $193.03B | $175.78B | $219.47B | $195.39B | — |
| Long-term debt | $174.71B | $173.08B | $207.57B | $174.85B | — |
| Shareholders' equity | $181.12B | $179.12B | $185.74B | $180.23B | — |
| Retained earnings | $228.87B | $214.20B | $201.14B | $187.97B | — |
Cash flow
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$19.00B | $3.04B | $40.36B | $27.05B | — |
| Investing cash flow | -$187.90B | -$15.65B | $16.04B | -$42.48B | — |
| Financing cash flow | $177.59B | -$21.53B | $20.49B | -$59.65B | — |
| Free cash flow | -$19.00B | $3.04B | $40.36B | $27.05B | — |
| Dividends paid | -$6.48B | -$6.23B | -$5.93B | -$5.29B | — |
| Share buybacks | -$19.52B | -$22.29B | -$13.58B | -$6.03B | — |
| End cash position | $172.59B | $201.90B | $236.05B | $159.16B | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 28 Aug 2026Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 28 Aug 2026News
Sector peers
Notes & alerts
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