Wells Fargo & (WFC) FY2022 results: revenue $74.4 billion, down 6.1% on the year
Wells Fargo & Company (WFC) reported revenue of $74.4 billion for fiscal 2022, the year ended 31 December 2022, down 6.1% on the year before. Net income was $13.7 billion, down 38.1%, and diluted earnings per share $3.14. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2023.
Revenue
$74.4 billion
-6.1% on the year
FY2015FY2022
Operating margin
n/a
FY2015FY2022
Net income
$13.7 billion
-38.1% on the year
FY2015FY2022
Diluted EPS
$3.14
-36.6% on the year
FY2015FY2022
this yearthe year beforeHover a bar for its figure.
$ 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
FY2022
FY2021
FY2020
On the year
Last 8 years
Operating cash flow
27,048
-11,525
2,051
Cash from investing
-42,476
-7,619
122,554
Cash from financing
-59,645
-11,238
-1,243
Depreciation and amortisation
1,200
1,400
1,400
-14.3%
Share-based compensation
978
1,005
622
-2.7%
Buybacks
6,033
14,464
3,415
-58.3%
Dividends paid
4,178
2,422
4,852
+72.5%
Dividend per share
$1.10
$0.60
$1.22
+83.3%
Diluted shares, weighted
3,837m
4,096m
4,134m
-6.3%
Shares outstanding at period end
3,834m
n/a
n/a
Balance sheet
$ million
FY2022
FY2021
FY2020
On the year
Last 8 years
Shareholders' equity
179,889
187,606
184,887
-4.1%
Non-controlling interest
1,986
2,504
1,033
-20.7%
Deposits
1,383,985
1,482,479
1,404,381
-6.6%
Trading liabilities
40,116
29,156
36,282
+37.6%
Debt
226,015
195,098
271,949
+15.8%
Other liabilities
49,025
51,225
56,631
-4.3%
Total liabilities and equity
1,881,016
1,948,068
1,955,163
-3.4%
Goodwill
25,173
25,180
26,392
-0.0%
Intangible assets
1,322
1,480
1,640
-10.7%
Securities held for sale or to maturity
410,653
449,362
426,153
-8.6%
Loans
n/a
882,904
869,121
Cash and equivalents
159,157
234,230
264,612
-32.1%
Other assets
1,284,711
354,912
367,245
+262.0%
Total assets
1,881,016
1,948,068
1,955,163
-3.4%
10-K for the year ended 31 December 2022, filed 21 February 2023: the filing.