Wells Fargo & (WFC) FY2017 results: revenue $88.4 billion, up 0.1% on the year
Wells Fargo & Company (WFC) reported revenue of $88.4 billion for fiscal 2017, the year ended 31 December 2017, up 0.1% on the year before. Net income was $22.2 billion, up 1.1%, and diluted earnings per share $4.10. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$88.4 billion
+0.1% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$22.2 billion
+1.1% on the year
FY2010FY2017
Diluted EPS
$4.10
+2.8% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
88,389
88,267
86,057
+0.1%
Interest expense
9,352
5,909
3,976
+58.3%
Pre-tax income
27,377
32,120
33,641
-14.8%
Income tax
4,917
10,075
10,365
-51.2%
Effective tax rate
18.0%
31.4%
30.8%
Net income
22,183
21,938
22,894
+1.1%
Net margin
25.1%
24.9%
26.6%
Diluted EPS
$4.10
$3.99
$4.12
+2.8%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
18,619
n/a
n/a
Cash from investing
-13,152
n/a
n/a
Cash from financing
-10,920
n/a
n/a
Depreciation and amortisation
1,200
1,200
1,200
0.0%
Share-based compensation
849
779
844
+9.0%
Buybacks
9,908
8,116
8,697
+22.1%
Dividends paid
7,480
7,472
7,400
+0.1%
Dividend per share
$1.54
$1.51
$1.48
+1.7%
Diluted shares, weighted
5,017m
5,108m
5,210m
-1.8%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
206,936
199,581
192,998
+3.7%
Non-controlling interest
1,143
916
893
+24.8%
Deposits
1,335,991
1,306,079
1,223,312
+2.3%
Trading liabilities
26,796
n/a
n/a
Debt
328,276
351,858
297,064
-6.7%
Other liabilities
52,615
71,681
73,365
-26.6%
Total liabilities and equity
1,951,757
1,930,115
1,787,632
+1.1%
Fixed assets
8,847
8,333
8,704
+6.2%
Goodwill
26,587
26,693
25,529
-0.4%
Intangible assets
3,034
4,115
4,461
-26.3%
Securities held for sale or to maturity
415,742
406,736
345,918
+2.2%
Loans
945,766
956,185
905,014
-1.1%
Resale agreements
78,999
58,215
45,828
+35.7%
Cash and equivalents
215,947
221,043
239,520
-2.3%
Other assets
256,835
248,795
212,658
+3.2%
Total assets
1,951,757
1,930,115
1,787,632
+1.1%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.