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Large US bank providing consumer banking, commercial banking and wealth management, recovering from past regulatory issues.
Large US bank providing consumer banking, commercial banking and wealth management, recovering from past regulatory issues.
Earns mainly from interest on loans, such as mortgages, credit cards and small-business loans, above the cost of deposits, plus fees from wealth management and payments. A Federal Reserve cap on total assets, imposed in 2018 after sales-practice scandals and lifted in 2025, kept it from growing for years.
Moat: narrow (scale, brand, distribution). Large branch network and mortgage/small-business franchise sustain scale, though reputation was damaged by past scandals.
Headquarters: San Francisco, California, US · Founded: 1852 · Employees: 205,000
Size Wells Fargo (WFC) is a United States Financials company (Major Banks) with a market value of $252B, the 44th largest of 3,117 United States companies the cockpit tracks. Shares closed at $83.94 on 6 Nov 2026.
Performance Over six months the shares gained 11.0%, against +14.1% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 6.4% over the last twelve months (peer median +1.4%); the operating margin is 32.1% (peer median 47.3%).
Valuation It trades at 1.59× book value against a peer median of 1.33× (8th most expensive of 21).
Price implies The share price implies a return on equity of about 13.3%; Wells Fargo delivers 12.9%, so the price asks more than the business earns today.
Credit Wells Fargo has 81 bonds outstanding ($166B), rated A- by the agencies and trading like A- at a weighted spread of 98 bp.
Short interest Short interest is 0.9% of the free float (15 Oct 2026).
Next results Next results expected around 14 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $131B | $124B | $126B | $116B | $77.8B |
| Revenue growth | — | -2% | +9% | +49% | — |
| Net income | $23.0B | $21.3B | $19.7B | $19.1B | $13.2B |
| Free cash flow | -$18.2B | -$14.5B | $29.7B | $40.6B | $4.96B |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $446B | $430B | $286B | $301B | $230B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Wells Fargo WFC | $252B | +11% | +6% | 13% | 1.59× | 13.3% |
| JPMorgan Chase JPM | $889B | +11% | +9% | 18% | 2.53× | 20.7% |
| Bank of America BAC | $341B | -3% | -1% | 11% | 1.26× | 12.9% |
| Citigroup C | $200B | -5% | +5% | 9% | 1.03× | 10.9% |
| U.S. Bancorp USB | $92.6B | +8% | +1% | 13% | 1.55× | 13.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | WFC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.3% | +2.4% | 11th highest of 21 |
| 6-month return | +11.0% | +14.1% | 8th lowest of 21 |
| Return on equity | 12.9% | 12.7% | 10th highest of 21 |
| Price / book | 1.59× | 1.33× | 8th most expensive of 21 |
| Trailing P/E | 11.8× | 11.2× | 7th most expensive of 20 |
| ROE the price implies | 13.3% | 11.1% | 9th most demanding of 21 |
| ROE delivered | 12.9% | 13.2% | 8th lowest of 17 |
| Bond spread | 98 bp | 81 bp | 3rd widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Wells Fargo WFC | United States | $252B | +11% | +6% | 13% | 1.59× | 13.3% | 12.9% |
| Mitsubishi Ufj Financial 8306.T | Japan | $230B | +14% | +11% | 13% | 1.60× | 11.2% | 12.6% |
| Royal Bank of Canada RY.TO | Canada | $281B | +15% | +5% | 16% | 2.94× | 18.4% | 16.2% |
| HSBC HSBA.L | United Kingdom | $301B | -1% | -4% | 14% | 1.51× | 17.5% | 13.6% |
| Bank of China 601988.SS | China | $301B | +19% | -3% | 9% | 0.79× | 2.8% | n/a |
| Toronto-Dominion Bank TD.TO | Canada | $208B | +18% | -11% | 13% | 2.48× | 15.3% | 12.8% |
| Citigroup C | United States | $200B | -5% | +5% | 9% | 1.03× | 10.9% | 9.1% |
| Commonwealth Bank of Australia CBA.AX | Australia | $194B | +9% | +1% | 14% | 3.56× | 33.3% | 13.9% |
| Bank of America BAC | United States | $341B | -3% | -1% | 11% | 1.26× | 12.9% | 10.7% |
| China Construction Bank 601939.SS | China | $358B | +20% | -5% | 10% | 0.87× | 3.0% | 9.8% |
| CCB 0939.HK | Hong Kong | $361B | +22% | +6% | 10% | 0.64× | 5.1% | 9.9% |
| Banco Santander SAN.MC | Spain | $174B | +4% | +15% | 13% | 1.40× | 17.1% | 13.1% |
| Agricultural Bank of China 601288.SS | China | $375B | +5% | -4% | 11% | 0.88× | 3.0% | n/a |
| Cm Bank 3968.HK | Hong Kong | $165B | +16% | +3% | 13% | 0.99× | 10.2% | 13.3% |
| China Merchants Bank 600036.SS | China | $164B | +12% | +9% | 14% | 0.94× | 5.4% | 13.6% |
| DBS D05.SI | Singapore | $155B | +19% | -5% | 16% | 2.83× | 21.4% | 16.3% |
| Industrial and Commercial Bank of China 601398.SS | China | $428B | +13% | -4% | 10% | 0.75× | 2.7% | n/a |
| ICBC 1398.HK | Hong Kong | $433B | +14% | -5% | 9% | 0.60× | 4.9% | n/a |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
| UniCredit UCG.MI | Italy | $130B | +6% | +2% | 17% | 1.77× | 25.8% | 17.3% |
Wells Fargo has 81 bonds outstanding with $166B face value. The agencies rate it A-; its bonds trade like A-. Weighted yield 5.84%, a spread of 98 bp over government bonds.