Wells Fargo & (WFC) FY2014 results: revenue $84.3 billion, up 0.7% on the year
Wells Fargo & Company (WFC) reported revenue of $84.3 billion for fiscal 2014, the year ended 31 December 2014, up 0.7% on the year before. Net income was $23.1 billion, up 5.4%, and diluted earnings per share $4.10. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2015.
Revenue
$84.3 billion
+0.7% on the year
FY2007FY2014
Operating margin
n/a
FY2007FY2014
Net income
$23.1 billion
+5.4% on the year
FY2007FY2014
Diluted EPS
$4.10
+5.4% on the year
FY2007FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
84,347
83,780
86,086
+0.7%
Interest expense
4,025
4,289
5,161
-6.2%
Pre-tax income
33,915
32,629
28,471
+3.9%
Income tax
10,307
10,405
9,103
-0.9%
Effective tax rate
30.4%
31.9%
32.0%
Net income
23,057
21,878
18,897
+5.4%
Net margin
27.3%
26.1%
22.0%
Diluted EPS
$4.10
$3.89
$3.36
+5.4%
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
17,529
57,641
58,540
-69.6%
Cash from investing
n/a
-153,492
-139,890
Cash from financing
n/a
93,910
83,770
Depreciation and amortisation
1,200
1,200
1,300
0.0%
Share-based compensation
858
725
560
+18.3%
Buybacks
9,414
5,356
3,918
+75.8%
Dividends paid
6,908
5,953
4,565
+16.0%
Dividend per share
$1.35
$1.15
$0.88
+17.4%
Diluted shares, weighted
5,324m
5,371m
5,352m
-0.9%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
184,394
170,142
157,554
+8.4%
Non-controlling interest
868
866
1,357
+0.2%
Deposits
1,168,310
1,079,177
1,002,835
+8.3%
Debt
247,461
206,881
184,554
+19.6%
Other liabilities
86,122
66,436
76,668
+29.6%
Total liabilities and equity
1,687,155
1,523,502
1,422,968
+10.7%
Fixed assets
8,743
9,156
9,428
-4.5%
Goodwill
25,705
25,637
25,637
+0.3%
Intangible assets
5,660
6,987
8,427
-19.0%
Securities held for sale or to maturity
309,249
260,968
232,414
+18.5%
Loans
850,232
807,784
782,514
+5.3%
Resale agreements
36,856
25,801
33,884
+42.8%
Cash and equivalents
238,791
n/a
n/a
Other assets
211,919
387,169
330,664
-45.3%
Total assets
1,687,155
1,523,502
1,422,968
+10.7%
10-K for the year ended 31 December 2014, filed 25 February 2015: the filing.