Wells Fargo & CompanyWFC
NYSE•Financial Services•Banks - Diversified
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.
Wells Fargo & Company (WFC) reported trailing twelve months revenue of $125.70B as of March 2026, a 1.7% increase year-over-year. Quarterly revenue reached $31.80B, reflecting continued top-line momentum.
Wells Fargo & Company generated $21.73B in TTM net income, with quarterly EBITDA of $5.85B. The operating margin expanded from 18.0% to 18.4%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (18.4%) and net margin (16.6%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 16.5% a year ago, signaling stronger bottom-line efficiency.
WFC trades at a P/E of 11.4x (below the broader market average) and a P/S of 2.0x. The price-to-book ratio of 1.4x reflects a moderate premium to book value.
The company generated $9.14B in free cash flow over the trailing twelve months, a 182.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $2.21T in total assets with $183.94B in long-term debt against $178.40B in stockholders equity for a debt-to-equity ratio of 1.0. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~19.6%, suggesting durable pricing power and cost discipline.
ROE is positive at ~11.2% on average, adequate but below the threshold typically associated with wide moats.
5 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~20.5% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.0 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 3 of the last 8 quarters — occasional cash consumption.
Shares decreased 7.7% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation