Wells Fargo & (WFC) FY2024 results: revenue $82.3 billion, down 0.4% on the year
Wells Fargo & Company (WFC) reported revenue of $82.3 billion for fiscal 2024, the year ended 31 December 2024, down 0.4% on the year before. Net income was $19.7 billion, up 3.0%, and diluted earnings per share $5.37. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$82.3 billion
-0.4% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$19.7 billion
+3.0% on the year
FY2017FY2024
Diluted EPS
$5.37
+11.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
3,035
40,358
27,048
-92.5%
Cash from investing
-15,651
16,043
-42,476
Cash from financing
-21,534
20,494
-59,645
Depreciation and amortisation
1,400
1,300
1,200
+7.7%
Share-based compensation
1,281
1,122
978
+14.2%
Buybacks
19,448
11,851
6,033
+64.1%
Dividends paid
5,133
4,789
4,178
+7.2%
Dividend per share
$1.50
$1.30
$1.10
+15.4%
Diluted shares, weighted
3,468m
3,720m
3,837m
-6.8%
Shares outstanding at period end
3,289m
3,599m
3,834m
-8.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
179,120
185,735
179,889
-3.6%
Non-controlling interest
1,946
1,708
1,986
+13.9%
Deposits
1,371,804
1,358,173
1,383,985
+1.0%
Repurchase agreements
95,235
n/a
n/a
Trading liabilities
44,813
n/a
40,116
Debt
271,017
297,147
226,015
-8.8%
Other liabilities
n/a
89,705
49,025
Total liabilities and equity
1,929,845
1,932,468
1,881,016
-0.1%
Goodwill
25,167
25,175
25,173
-0.0%
Intangible assets
n/a
n/a
1,322
Securities held for sale or to maturity
397,926
393,156
410,653
+1.2%
Resale agreements
105,330
n/a
n/a
Cash and equivalents
201,902
236,052
159,157
-14.5%
Other assets
1,199,520
1,278,085
1,284,711
-6.1%
Total assets
1,929,845
1,932,468
1,881,016
-0.1%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.