Valuation, from the filing
| Public float | $257.30B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $83.39 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 12.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 3.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
12.1× earnings today, against a median of 10.9× across 10 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $257.30B | 12.1× | |
| 2024-06-28 | $201.60B | 10.2× | |
| 2023-06-30 | $156.30B | 8.2× | |
| 2022-06-30 | $148.30B | 10.8× | |
| 2021-06-30 | $185.70B | 8.4× | |
| 2020-06-30 | $105.20B | 31.2× | |
| 2019-06-28 | $208.70B | 10.6× | |
| 2018-06-30 | $268.20B | 12.0× | |
| 2017-06-30 | $274.72B | 12.4× | |
| 2016-06-30 | $238.20B | 10.9× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the National Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Effective tax rate | 15.2% | 5th | |
| Revenue YoY growth | 1.7% | 11th | |
| Long-term debt / equity | 0.95x | 88th | |
| Net margin | 25.5% | 19th | |
| SBC / revenue | 1.8% | 31th |
WELLS FARGO & COMPANY/MN (WFC) reported revenue of $87.23B and net income of $22.97B for the fiscal year ended 2026-09-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from WELLS FARGO & COMPANY/MN’s SEC filings, each linked to the filing it came from. It is classified by the SEC under National Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2026-09-30 |
|---|---|
| Revenue | $87.23B |
| Cost of revenue | Unavailable |
| Gross profit | Unavailable |
| Operating income | Unavailable |
| Net income | $22.97B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $27.65B |
| Income tax expense | $4.36B |
| Diluted EPS | Unavailable |
| Selling, general & administrative | Unavailable |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-09-30 |
|---|---|
| Cash & equivalents | Unavailable |
| Total assets | $2.25T |
| Current assets | Unavailable |
| Total liabilities | $2.08T |
| Current liabilities | Unavailable |
| Total equity incl. NCI | $177.88B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | Unavailable |
| Accounts receivable | $25.06B |
| Goodwill | $24.96B |
| Long-term debt | $182.85B |
| Accounts payable | Unavailable |
Cash flow
| Metric | 2026-09-30 |
|---|---|
| Operating cash flow | $28.91B |
| Capital expenditures | Unavailable |
| Investing cash flow | -$189.47B |
| Financing cash flow | $167.41B |
| Net change in cash | $6.84B |
| Stock-based compensation | Unavailable |
| Common dividends paid | $5.66B |
| Common share repurchases | $14.52B |
| Depreciation & amortization | $7.68B |
Derived
| Metric | 2026-09-30 |
|---|---|
| Free cash flow | Unavailable |
| Gross margin | Unavailable |
| Operating margin | Unavailable |
| FCF margin | Unavailable |
| SBC / revenue | Unavailable |
| Current ratio | Unavailable |
| Revenue YoY growth | 5.4% |
| Net margin | 26.3% |
| R&D / revenue | Unavailable |
| CapEx / revenue | Unavailable |
| Long-term debt / equity | 1.03x |
| Effective tax rate | 15.8% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open WFC in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.