Wells Fargo & (WFC) FY2011 results: revenue $80.9 billion, down 5.0% on the year
Wells Fargo & Company (WFC) reported revenue of $80.9 billion for fiscal 2011, the year ended 31 December 2011, down 5.0% on the year before. Net income was $15.9 billion, up 28.4%, and diluted earnings per share $2.82. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2012.
Revenue
$80.9 billion
-5.0% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$15.9 billion
+28.4% on the year
FY2007FY2011
Diluted EPS
$2.82
+27.6% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
80,948
85,210
88,686
-5.0%
Interest expense
6,649
8,039
9,950
-17.3%
Pre-tax income
23,656
19,001
17,998
+24.5%
Income tax
7,445
6,338
5,331
+17.5%
Effective tax rate
31.5%
33.4%
29.6%
Net income
15,869
12,362
12,275
+28.4%
Net margin
19.6%
14.5%
13.8%
Diluted EPS
$2.82
$2.21
$1.75
+27.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
13,665
18,772
28,613
-27.2%
Cash from investing
-35,044
-3,675
71,785
Cash from financing
24,775
-26,133
-97,081
Depreciation and amortisation
1,400
1,500
1,300
-6.7%
Share-based compensation
529
436
245
+21.3%
Buybacks
2,416
91.0
220
+2,554.9%
Dividends paid
2,537
1,045
2,125
+142.8%
Dividend per share
$0.48
$0.20
$0.49
+140.0%
Diluted shares, weighted
5,323m
5,263m
4,563m
+1.1%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
140,241
126,408
111,786
+10.9%
Non-controlling interest
1,446
1,481
2,573
-2.4%
Deposits
920,070
847,942
824,018
+8.5%
Short-term borrowings
n/a
n/a
38,966
Debt
174,445
212,384
203,861
-17.9%
Other liabilities
77,665
69,913
62,442
+11.1%
Total liabilities and equity
1,313,867
1,258,128
1,243,646
+4.4%
Fixed assets
9,531
9,644
10,736
-1.2%
Goodwill
25,115
24,770
24,812
+1.4%
Intangible assets
10,358
12,170
14,047
-14.9%
Securities held for sale or to maturity
219,196
167,465
n/a
+30.9%
Loans
750,259
734,245
758,254
+2.2%
Resale agreements
24,255
24,880
8,042
-2.5%
Trading assets
77,814
51,414
43,039
+51.3%
Other assets
197,339
233,540
384,716
-15.5%
Total assets
1,313,867
1,258,128
1,243,646
+4.4%
10-K for the year ended 31 December 2011, filed 28 February 2012: the filing.