Wells Fargo & (WFC) FY2016 results: revenue $88.3 billion, up 2.6% on the year
Wells Fargo & Company (WFC) reported revenue of $88.3 billion for fiscal 2016, the year ended 31 December 2016, up 2.6% on the year before. Net income was $21.9 billion, down 4.2%, and diluted earnings per share $3.99. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2019.
Revenue
$88.3 billion
+2.6% on the year
FY2009FY2016
Operating margin
n/a
FY2009FY2016
Net income
$21.9 billion
-4.2% on the year
FY2009FY2016
Diluted EPS
$3.99
-3.2% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
88,267
86,057
84,347
+2.6%
Interest expense
5,909
3,976
4,025
+48.6%
Pre-tax income
32,120
33,641
33,915
-4.5%
Income tax
10,075
10,365
10,307
-2.8%
Effective tax rate
31.4%
30.8%
30.4%
Net income
21,938
22,894
23,057
-4.2%
Net margin
24.9%
26.6%
27.3%
Diluted EPS
$3.99
$4.12
$4.10
-3.2%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
n/a
n/a
17,529
Depreciation and amortisation
1,200
1,200
1,200
0.0%
Share-based compensation
779
844
858
-7.7%
Buybacks
8,116
8,697
9,414
-6.7%
Dividends paid
7,472
7,400
6,908
+1.0%
Dividend per share
$1.51
$1.48
$1.35
+2.7%
Diluted shares, weighted
5,108m
5,210m
5,324m
-1.9%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
199,581
192,998
184,394
+3.4%
Non-controlling interest
916
893
868
+2.6%
Deposits
1,306,079
1,223,312
1,168,310
+6.8%
Debt
351,858
297,064
247,461
+18.4%
Other liabilities
71,681
73,365
86,122
-2.3%
Total liabilities and equity
1,930,115
1,787,632
1,687,155
+8.0%
Fixed assets
8,333
8,704
8,743
-4.3%
Goodwill
26,693
25,529
25,705
+4.6%
Intangible assets
4,115
4,461
5,660
-7.8%
Securities held for sale or to maturity
406,736
345,918
309,249
+17.6%
Loans
956,185
905,014
850,232
+5.7%
Resale agreements
58,215
45,828
36,856
+27.0%
Cash and equivalents
221,043
239,520
238,791
-7.7%
Other assets
248,795
212,658
211,919
+17.0%
Total assets
1,930,115
1,787,632
1,687,155
+8.0%
10-K for the year ended 31 December 2016, filed 27 February 2019: the filing.