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$WFC$84.8 ▼3%
Wells Fargo & Company
WHAT THEY DO
Wells Fargo is a diversified U.S. bank that takes deposits and makes loans to consumers and businesses, earning net interest income plus fees from cards, wealth management, investment banking and mortgage services.
💎 CONVERGENCE PLAY — in 2 themes
Rate normalizationU.S. consumer creditBank deregulation
PRICE
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REVENUE MIX
Consumer Banking & Lending48%
Commercial Banking22%
Wealth & Investment Management18%
Corporate & Investment Banking12%
COST
Noninterest expense64%
Provision for credit losses8%
Op Margin34%
FINANCIAL HEALTH
Reported through Sep 30, 2026
Figures are trailing twelve months (TTM) unless marked otherwise.
REVENUE
$83.1B
Growth
0%
QTR YOY
Gross M.
0%
P/E
12
EV/EBITDA
0
Net M.
28%
FCF M.
18%
D/E
2.35
LATEST QTR
Op M.
34%
PLUG INTO YOUR DCF
Historical growth
-1.7%
Analyst 5y growth
—
Forward P/E
10.6
PEG ratio
1.40
Trailing EPS
$7.10
Forward EPS
$8.00
Multiple compressing
Forward P/E is lower than trailing — earnings are expected to grow into the price.
CAPEX & R&D — LAST 0 FISCAL YEARS (SEC FILINGS)
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TAM
SIZE
$1.2T U.S. banking revenue pool
CAGR
4%
U.S. commercial banking revenue grows roughly in line with nominal GDP, with fee pools like wealth and investment banking growing faster. Share gains are slow and mostly come from deposit pricing and digital distribution rather than new market creation.
RISK ASSESSMENT
HIGAsset cap and regulatory consent orders limit balance sheet growth and raise compliance costs
MEDCredit deterioration in commercial real estate and card portfolios could push provisions above normalized levels
LOWDeposit competition compresses net interest margin if rates fall faster than loan yields
🐂 BULL
A 12x P/E and 1.6x book with 13% ROE leaves room for re-rating as the asset cap lifts and buybacks accelerate. Fee businesses and expense discipline can grow EPS faster than the flat top line suggests.
🐻 BEAR
Revenue has been flat to down for years and the regulatory overhang is structural, not temporary. If credit costs normalize higher, the 13% ROE and 1.6x book multiple both compress.
EARNINGS
EPS · Q3 2026
Beat ✓
REVENUE
Miss
MANAGEMENT TONE
BearishBullish
🔗 IMPACT ON YOUR THESIS
Asset cap removal unlocks balance sheet growth
Watch→Watch
No timeline update; still the key swing factor
Expense discipline drives positive operating leverage
On Track→On Track
Noninterest expense came in below plan
Credit costs remain near normalized levels
Watch→Watch
Commercial real estate reserves ticked up modestly
AI-powered data, computed by TreasureX · May contain inaccuracies
⚠️
All values, scores, and figures here are computed from your own assumptions and public data, for educational purposes only. This is not investment advice — TreasureX does not recommend buying or selling any security. Results change with your inputs. Please do your own research and use your own judgement before making any investment decision.