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WFC-PZ

Wells Fargo & Company

WFC-PZ

Wells Fargo & Company • NYSE
$19.26 ▼ -0.89% (-0.17)
Market Cap $62.63 B
52w High $21.00
52w Low $18.23
Dividend Yield 1.19%
P/E 3.99
Volume 524.63K
Outstanding Shares 3.25B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $31.905B ▲ $13.846B ▲ $5.589B ▲ 17.518% ▼ $1.68 ▲ $7.305B ▼
Q2-2025 $30.434B ▲ $13.379B ▼ $5.494B ▲ 18.052% ▲ $1.61 ▲ $8.331B ▲
Q1-2025 $29.627B ▼ $13.891B ▼ $4.894B ▼ 16.519% ▼ $1.41 ▼ $7.184B ▼
Q4-2024 $30.597B ▼ $13.9B ▲ $5.079B ▼ 16.6% ▲ $1.45 ▲ $7.367B ▼
Q3-2024 $31.674B $13.067B $5.114B 16.146% $1.43 $8.017B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $486.13B ▲ $2.063T ▲ $1.88T ▲ $181.154B ▲
Q2-2025 $377.976B ▲ $1.981T ▲ $1.798T ▲ $181.111B ▲
Q1-2025 $352.312B ▼ $1.95T ▲ $1.767T ▲ $181.09B ▲
Q4-2024 $363.464B ▲ $1.93T ▲ $1.749T ▲ $179.12B ▼
Q3-2024 $350.248B $1.922T $1.737T $183.265B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $5.609B ▲ $-869M ▲ $-82.865B ▼ $63.117B ▲ $-20.617B ▼ $-869M ▲
Q2-2025 $5.522B ▲ $-11.216B ▼ $8.048B ▲ $20.123B ▲ $16.955B ▲ $-11.216B ▼
Q1-2025 $4.804B ▼ $-11.037B ▼ $-27.508B ▼ $12.821B ▲ $-25.724B ▼ $-11.037B ▼
Q4-2024 $5.263B ▲ $8.904B ▲ $-1.064B ▲ $9.934B ▲ $17.774B ▲ $8.904B ▲
Q3-2024 $5.17B $4.206B $-21.098B $-29.76B $-46.652B $4.206B

Revenue by Products

Product Q2-2024Q3-2024Q4-2024Q1-2025
Community Banking
Community Banking
 $9.01Bn ▲$9.12Bn ▲$17.99Bn ▲$8.91Bn ▼
Corporate and Investment Banking
Corporate and Investment Banking
 $4.84Bn ▲$4.91Bn ▲$9.45Bn ▲$5.06Bn ▼
Wealth And Investment Management
Wealth And Investment Management
 $3.86Bn ▲$3.88Bn ▲$7.82Bn ▲$3.87Bn ▼
Wholesale Banking
Wholesale Banking
 $3.12Bn ▲$3.33Bn ▲$6.29Bn ▲$2.92Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Wells Fargo’s earnings profile over the last several years shows a bank that has largely completed a turnaround from the shock of 2020 and is now back in a more mature, profitable phase. Revenue has climbed steadily from the low 80s to well into the 100s, showing that the core business has regained momentum. Profitability has improved even faster than revenue: operating profit, cash-style earnings, and net income have all moved up over time, with only a temporary step down after the unusually strong year in 2021. In plain terms, Wells Fargo is now earning much more on a similar-sized balance sheet than it did a few years ago. That reflects better cost control, healthier credit conditions than in 2020, and the benefit of higher interest rates on many loans. The main risk is that this cycle can turn: weaker economic conditions or rising credit losses could put pressure on earnings again. For preferred shareholders like those in WFC‑PZ, the key takeaway is that the parent company is currently generating solid profits with a clear improvement trend versus the early 2020s, which strengthens its capacity to meet fixed obligations over time.

Balance Sheet

Balance Sheet The balance sheet is large, stable, and fairly steady over the period shown. Total assets have hovered around a similar level for several years, which means Wells Fargo is not aggressively expanding its size but instead focusing on improving what it earns from its existing asset base. Cash and liquid resources remain substantial, though they move around from year to year as interest rates, deposits, and lending demand shift. Debt is meaningful but not extreme relative to the size of the bank, and it has not been on a runaway upward path. Shareholders’ equity has stayed broadly stable, indicating the bank is retaining enough earnings to support its balance sheet even as it returns some capital to investors. Overall, the balance sheet picture is one of a very large, systemically important bank that is not in a high-growth mode but appears reasonably well-capitalized and liquid. For a preferred security, that combination of size, diversification, and steady capital is generally supportive, though it also means the company is closely watched by regulators, which can constrain flexibility.

Cash Flow

Cash Flow Cash flow figures for banks can look odd compared with industrial companies, because lending and deposit movements are treated as part of operating cash flow. Even so, a few patterns stand out. After a weak year earlier in the period, operating cash flow rebounded strongly, then eased again in the most recent year. Free cash flow moves in lockstep here because capital spending is minimal in the reported data, which is normal for a bank where most “investment” is in loans and securities rather than physical assets. The main interpretation is that Wells Fargo’s underlying business can generate strong cash inflows in normal conditions, but those flows can swing significantly with interest rates, loan demand, and deposit behavior. For preferred holders, the key is that cash generation has been ample in most recent years, but it is also clearly cyclical and sensitive to the broader financial environment.

Competitive Edge

Competitive Edge Wells Fargo remains one of the largest banks in the United States, with a very wide customer base and a dense branch and digital footprint. It serves roughly a third of U.S. households and operates in all 50 states. This scale gives it important advantages in brand recognition, deposit gathering, and cross-selling. A core strength is its relatively low cost of funding, thanks to a large base of customer deposits, many of which do not pay high interest. Combined with a diversified mix of consumer, commercial, corporate, and wealth-management services, this helps Wells Fargo earn solid returns in ordinary times. Unlike some peers who lean heavily on investment banking and trading, Wells Fargo’s model is more focused on everyday banking, advisory, and asset management. That usually means steadier revenue and less dependence on volatile capital markets. On the other hand, the bank still faces reputational and regulatory overhang from past misconduct issues, and it remains under close supervisory scrutiny. That oversight can limit growth and adds ongoing compliance costs, but it also pushes the bank toward more conservative operations. Overall, its competitive position is built on scale, low-cost deposits, and sticky customer relationships, with the main risks coming from regulation, competition from both big banks and fintechs, and the need to fully restore trust.

Innovation and R&D

Innovation and R&D Wells Fargo is investing heavily in technology to modernize its services and operations, even though it does not report “R&D” in the way a tech company might. Key efforts include: - An AI-powered virtual assistant, Fargo, embedded in its mobile app to handle customer questions, transactions, and personalized insights. - Predictive banking tools that scan customer activity to flag unusual patterns and suggest actions, like adjusting subscriptions or moving cash to savings. - Wells Fargo Vantage, a modern digital portal for business clients to manage cash, payments, and financing more easily. - A Silicon Valley innovation center and a multi-cloud strategy using major cloud providers to increase agility and speed of development. - A data science platform to help internal teams build and deploy AI and machine learning solutions more quickly. - Sustainable finance initiatives, with ambitious long-term goals for climate-related lending and investment. These moves are designed to improve customer experience, cut manual work, and keep the bank competitive against both large peers and digital-native challengers. The main execution risks are technology complexity, cyber and data risks, and the challenge of upgrading legacy systems while staying fully compliant with strict banking rules.

Summary

Putting it all together, Wells Fargo today looks like a very large, mature bank that has repaired much of the damage from the early 2020s and is now focused on improving profitability and modernizing its platform rather than chasing rapid balance-sheet growth. Earnings have recovered strongly and are now on a higher, more stable level than during the pandemic period. The balance sheet is big, broadly steady, and backed by stable equity and significant liquidity. Cash generation is strong in normal years but can swing with the interest-rate and credit cycle, which is typical for a bank. Competitively, Wells Fargo benefits from scale, low-cost deposits, and deep relationships across consumer, commercial, and wealth segments, though it continues to manage through regulatory constraints and the legacy of prior misconduct. Its technology and AI investments—Fargo, Vantage, data science platforms, and cloud adoption—are aimed at defending and slowly widening its competitive moat in a digital-first banking world. For the WFC‑PZ preferred security, the relevant picture is of a systemically important bank with solid current profitability, a large and diversified franchise, and ongoing regulatory and economic risks that could affect future earnings but are balanced by strong underlying scale and modernization efforts.