WELLS FARGO & COMPANY/MN
$86.05
+0.29 (+0.34%) · delayed · Nov 13, 2026
Five-year price
52w $72.78 to $97.76
- Market cap
- $258.3B
- Enterprise value
- $278.8B
- P/E
- 13.7×
- 15.7× on 3y avg EPS
- EV / EBIT
- —
- FCF yield
- −7.4%
- ROIC
- —
- Debt / equity
- 1.07
- Piotroski F
- 3/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
25
- –ROIC > 12% (5y avg)5y avg ROIC n/a
- ○ROE > 15% (5y avg)5y avg ROE 10.5%
- –Stable operating marginsMargin volatility n/a (σ, 5y)
- ○Earnings convert to cashFCF / net income 57% (5y avg)
- ○Growing revenueRevenue CAGR 5y 2.4%
- ●Shrinking share countDiluted shares -21.6% over 5y
Value
75
- ●P/E below 15P/E 13.7
- –EV/EBIT below 12EV/EBIT n/a
- ○FCF yield above 6%FCF yield -7.4%
- ●Price below Graham NumberGraham Number $92.19
- ●P/B below 3P/B 1.4
Safety
33
- ○Debt / equity below 0.5D/E 1.07
- ●Debt payable in < 4 yrs of earningsNet debt $20.4B
- –Interest coverage > 8xCoverage n/ax
- –Current ratio > 1.5Current ratio n/a
- ○Piotroski F-score ≥ 6F-score 3/9
Graham Defensive
83
- ●Adequate size (revenue > $2B)Revenue $83.7B
- –Strong condition (current ratio ≥ 2)Current ratio n/a
- ●Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ●Earnings growth ≥ 33% (10y, 3y avgs)EPS growth 33%
- ○Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) 15.7
- ●P/E × P/B ≤ 22.5Product 22.4
Valuation lab
What do you have to believe?
Starting cash flow
Net debt $20.4B · 3002M shares · 5y revenue CAGR 2.4%
Intrinsic value
$34.33
Price
$86.05
Premium paid
151%
What the price implies
The market is paying for 12.8% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
53% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 88,267 | 88,389 | 86,408 | 85,063 | 74,264 | 79,166 | 74,368 | 82,597 | 82,296 | 83,699 |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Operating income | — | — | — | — | — | — | — | — | — | — |
| Operating margin | — | — | — | — | — | — | — | — | — | — |
| Pre-tax income | 32,120 | 27,377 | 28,538 | 25,967 | 2,505 | 29,563 | 15,629 | 21,636 | 23,364 | 25,199 |
| Income tax | 10,075 | 4,917 | 5,662 | 5,761 | (1,157) | 5,764 | 2,251 | 2,607 | 3,399 | 3,841 |
| Net income | 21,938 | 22,183 | 22,393 | 19,715 | 3,377 | 22,109 | 13,677 | 19,142 | 19,722 | 21,338 |
| EPS (diluted) | 3.99 | 4.10 | 4.28 | 4.09 | 0.43 | 5.08 | 3.27 | 4.83 | 5.37 | 6.26 |
| Diluted shares | 5,108 | 5,017 | 4,838 | 4,425 | 4,134 | 4,096 | 3,837 | 3,720 | 3,468 | 3,242 |
Who owns it