# Wells Fargo & Co. (WFC) — Stock CV

Wells Fargo & Co. is a $253B financial services company. Revenue grew 6.2% over the last year, and it keeps 26¢ of every dollar of sales as profit. It trades at 10.7× earnings — around the middle of its own history.

> Wells Fargo is a premier, North American-focused banking titan that commands a $2.2 trillion balance sheet and the third-highest deposit market share in the United States.

## Identity

- **Ticker**: WFC
- **Sector**: Financial Services
- **Industry**: Banks
- **Headquarters**: SAN FRANCISCO, CA
- **Employees**: 197 466
- **Website**: https://www.wellsfargo.com
- **Market cap**: $253B
- **Last price**: $83.81
- **Financial profile**: Mixed

## Vitals (TTM)

- **Revenue**: $86.8B
- **Net income**: $22.6B
- **Free cash flow**: $19.2B
- **Net cash**: $172B
- **P/E**: 10.7
- **Revenue growth (YoY)**: 6.2%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 60 |
| Growth | 18 |
| Profitability | 87 |
| Health | 53 |
| Quality | 42 |
| Moat | 25 |

## Qualifications (beginner checklist) — 10 of 11 passed

- [x] Revenue growing — +6.2% YoY
- [x] Profitable — $22.6B TTM
- [x] Profit growing — +22.7% YoY
- [x] Generates cash — $19.2B TTM
- [x] Debt under control — more cash than debt
- [x] Established company — $253B market cap
- [x] Not printing shares — -26.7% shares over ~5y
- [x] Proven track record — 9/9 profitable years
- [ ] Financially stable — Altman Z 0.2 — distress
- [x] Pays a dividend — yield 2.73%
- [x] Valuation not extreme — P/E 10.7

## Experience (career milestones)

- **Sep 23, 2024** — Wells Fargo launched a $1.6 billion delayed-draw term loan to support Tempur Sealy…
- **2023** — Wells Fargo became the first major U.S. bank with a unionized branch
- **FY2021** — Became debt-free: cash now exceeds total debt
- **FY2018** — Revenue crossed $100B: $101B for the year
- **FY2018** — Best year on record: $22.4B net income
- **2018** — Wells Fargo account fraud scandal erupted when the Federal Reserve barred the bank from growing…
- **2017** — The city councils of Seattle, Washington and Davis, California voted to move $3 billion of…
- **FY2016** — Profitable every year on record: 9 consecutive profitable years in our data
- **FY2016** — Revenue already above $50B: $94.2B in first reported year
- **2015** — Wells Fargo Rail acquired GE Capital Rail Services and merged in with First Union Rail
- **2008** — Wells Fargo became a coast-to-coast bank with the 2008 acquisition of Charlotte-based Wachovia
- **2007** — Wells Fargo acquired Greater Bay Bancorp, which had $7.4 billion in assets, in a $1.5 billion transaction
- **2000** — It then began on another set of acquisitions, starting in 2000
- **1996** — Wells Fargo acquired First Interstate Bancorp for $11.6 billion
- **1995** — Wells Fargo became the first major US financial services firm to offer internet banking, in May 1995

## Strengths

- Strongly profitable — 26.0% net margin
- Strong cash conversion — FCF is 22.1% of revenue
- Net cash position after subtracting debt from cash
- High returns on invested capital (ROIC 237.8%)

## Watch-outs

- Altman Z-Score 0.16 — elevated financial-distress risk

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $78.5B | $21.5B | -$11.5B |
| FY2022 | $73.8B | $13.2B | $27.0B |
| FY2023 | $82.6B | $19.1B | $40.4B |
| FY2024 | $82.3B | $19.7B | $3.04B |
| FY2025 | $83.7B | $21.3B | -$19.0B |

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Source: https://stockcv.com/WFC — derived from company filings; may be delayed or incomplete. Information, not investment advice.