Wells Fargo & (WFC) FY2013 results: revenue $83.8 billion, down 2.7% on the year
Wells Fargo & Company (WFC) reported revenue of $83.8 billion for fiscal 2013, the year ended 31 December 2013, down 2.7% on the year before. Net income was $21.9 billion, up 15.8%, and diluted earnings per share $3.89. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2014.
Revenue
$83.8 billion
-2.7% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$21.9 billion
+15.8% on the year
FY2007FY2013
Diluted EPS
$3.89
+15.8% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
83,780
86,086
80,948
-2.7%
Interest expense
4,289
5,161
6,649
-16.9%
Pre-tax income
32,629
28,471
23,656
+14.6%
Income tax
10,405
9,103
7,445
+14.3%
Effective tax rate
31.9%
32.0%
31.5%
Net income
21,878
18,897
15,869
+15.8%
Net margin
26.1%
22.0%
19.6%
Diluted EPS
$3.89
$3.36
$2.82
+15.8%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
57,641
58,540
13,665
-1.5%
Cash from investing
-153,492
-139,890
-35,044
Cash from financing
93,910
83,770
24,775
+12.1%
Depreciation and amortisation
1,200
1,300
1,400
-7.7%
Share-based compensation
725
560
529
+29.5%
Buybacks
5,356
3,918
2,416
+36.7%
Dividends paid
5,953
4,565
2,537
+30.4%
Dividend per share
$1.15
$0.88
$0.48
+30.7%
Diluted shares, weighted
5,371m
5,352m
5,323m
+0.4%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
170,142
157,554
140,241
+8.0%
Non-controlling interest
866
1,357
1,446
-36.2%
Deposits
1,079,177
1,002,835
920,070
+7.6%
Debt
206,881
184,554
174,445
+12.1%
Other liabilities
66,436
76,668
77,665
-13.3%
Total liabilities and equity
1,523,502
1,422,968
1,313,867
+7.1%
Fixed assets
9,156
9,428
9,531
-2.9%
Goodwill
25,637
25,637
25,115
0.0%
Intangible assets
6,987
8,427
10,358
-17.1%
Securities held for sale or to maturity
260,968
232,414
219,196
+12.3%
Loans
807,784
782,514
750,259
+3.2%
Resale agreements
25,801
33,884
24,255
-23.9%
Trading assets
n/a
n/a
77,814
Other assets
387,169
330,664
197,339
+17.1%
Total assets
1,523,502
1,422,968
1,313,867
+7.1%
10-K for the year ended 31 December 2013, filed 26 February 2014: the filing.