Wells Fargo & (WFC) FY2019 results: revenue $86.8 billion, up 0.5% on the year
Wells Fargo & Company (WFC) reported revenue of $86.8 billion for fiscal 2019, the year ended 31 December 2019, up 0.5% on the year before. Net income was $19.7 billion, down 12.0%, and diluted earnings per share $4.05. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$86.8 billion
+0.5% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$19.7 billion
-12.0% on the year
FY2012FY2019
Diluted EPS
$4.05
-5.4% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
86,832
86,408
88,389
+0.5%
Interest expense
18,852
14,652
9,352
+28.7%
Pre-tax income
25,967
28,538
27,377
-9.0%
Income tax
5,761
5,662
4,917
+1.7%
Effective tax rate
22.2%
19.8%
18.0%
Net income
19,715
22,393
22,183
-12.0%
Net margin
22.7%
25.9%
25.1%
Diluted EPS
$4.05
$4.28
$4.10
-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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
6,730
36,073
18,619
-81.3%
Cash from investing
-29,631
-7,754
-13,152
Cash from financing
-9,136
-70,979
-10,920
Depreciation and amortisation
1,400
1,300
1,200
+7.7%
Share-based compensation
1,217
1,022
849
+19.1%
Buybacks
24,533
20,633
9,908
+18.9%
Dividends paid
8,198
7,692
7,480
+6.6%
Dividend per share
$1.92
$1.64
$1.54
+17.1%
Diluted shares, weighted
4,425m
4,838m
5,017m
-8.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
187,146
196,166
206,936
-4.6%
Non-controlling interest
838
900
1,143
-6.9%
Deposits
1,322,626
1,286,170
1,335,991
+2.8%
Trading liabilities
25,217
27,259
26,796
-7.5%
Debt
332,703
334,831
328,276
-0.6%
Other liabilities
59,025
50,557
52,615
+16.7%
Total liabilities and equity
1,927,555
1,895,883
1,951,757
+1.7%
Fixed assets
9,309
8,920
8,847
+4.4%
Goodwill
26,390
26,418
26,587
-0.1%
Intangible assets
1,853
1,988
3,034
-6.8%
Securities held for sale or to maturity
417,392
414,700
415,742
+0.6%
Loans
952,714
943,335
945,766
+1.0%
Resale agreements
n/a
n/a
78,999
Cash and equivalents
141,250
173,287
215,947
-18.5%
Other assets
378,647
327,235
256,835
+15.7%
Total assets
1,927,555
1,895,883
1,951,757
+1.7%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.