30 years of historical data (1995–2024) · Financial Services · Banks - Diversified
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Wells Fargo & Company trades at 15.2x earnings, 37% below its 5-year average of 23.9x, sitting at the 67th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.8x, the stock trades at a premium of 10%. On a free-cash-flow basis, the stock trades at 83.0x P/FCF, 119% above the 5-year average of 37.9x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $251.8B | $243.6B | $183.1B | $158.4B | $196.5B | $124.8B | $238.1B | $223.0B | $304.4B | $281.5B | $283.2B |
| Enterprise Value | $330.4B | $322.1B | $243.0B | $225.3B | $157.4B | $132.1B | $429.5B | $384.5B | $416.7B | $612.6B | $561.2B |
| P/E Ratio → | 15.16 | 13.08 | 10.19 | 13.15 | 9.62 | 73.61 | 13.15 | 10.77 | 14.80 | 13.81 | 13.19 |
| P/S Ratio | 2.01 | 1.94 | 1.59 | 1.90 | 2.37 | 1.52 | 2.25 | 2.21 | 3.11 | 2.99 | 3.23 |
| P/B Ratio | 1.56 | 1.35 | 0.98 | 0.87 | 1.03 | 0.67 | 1.27 | 1.13 | 1.46 | 1.40 | 1.46 |
| P/FCF | 82.98 | 80.25 | 4.54 | 5.86 | — | 60.83 | 35.38 | 6.18 | 16.35 | 279.28 | 17.81 |
| P/OCF | 82.98 | 80.25 | 4.54 | 5.86 | — | 60.83 | 35.38 | 6.18 | 16.26 | 279.28 | 17.81 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Wells Fargo & Company's enterprise value stands at 10.7x EBITDA, 17% above its 5-year average of 9.1x. This is roughly in line with the Financial Services sector median of 11.1x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.57 | 2.11 | 2.70 | 1.89 | 1.61 | 4.06 | 3.80 | 4.26 | 6.51 | 6.39 |
| EV / EBITDA | 10.68 | 10.42 | 8.71 | 10.03 | 4.20 | 12.32 | 13.20 | 11.27 | 12.71 | 16.52 | 15.20 |
| EV / EBIT | 14.14 | 13.79 | 11.23 | 14.41 | 5.32 | 52.74 | 16.54 | 13.47 | 15.22 | 19.07 | 16.68 |
| EV / FCF | — | 106.12 | 6.02 | 8.33 | — | 64.41 | 63.82 | 10.66 | 22.38 | 607.79 | 35.28 |
Margins and return-on-capital ratios measuring operating efficiency
Wells Fargo & Company earns an operating margin of 18.6%, below the Financial Services sector average of 21.9%. ROE of 10.7% is modest. ROIC of 3.7% represents below-average returns on invested capital versus a sector median of 5.4%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.2% | 62.2% | 66.9% | 87.3% | 100.3% | 73.1% | 79.6% | 83.8% | 87.8% | 89.7% | 92.7% |
| Operating Margin | 18.6% | 18.6% | 18.8% | 18.7% | 35.6% | 3.0% | 24.6% | 28.2% | 28.0% | 34.1% | 38.3% |
| Net Profit Margin | 15.7% | 15.7% | 16.6% | 16.4% | 26.6% | 4.1% | 18.7% | 22.2% | 22.7% | 23.3% | 26.1% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.7% | 10.7% | 10.4% | 7.3% | 11.8% | 1.8% | 10.2% | 11.1% | 10.9% | 11.1% | 12.1% |
| ROA | 1.0% | 1.0% | 1.0% | 0.7% | 1.1% | 0.2% | 1.0% | 1.2% | 1.1% | 1.2% | 1.3% |
| ROIC | 3.7% | 3.7% | 3.6% | 3.0% | 5.3% | 0.4% | 3.7% | 4.0% | 3.8% | 4.6% | 5.5% |
| ROCE | 5.0% | 5.0% | 5.0% | 4.2% | 7.6% | 0.6% | 6.0% | 6.5% | 6.0% | 7.3% | 8.7% |
Solvency and debt-coverage ratios — lower is generally safer
Wells Fargo & Company carries a Debt/EBITDA ratio of 9.1x, which is highly leveraged (122% above the sector average of 4.1x). Net debt stands at $78.5B ($281.9B total debt minus $203.4B cash). Interest coverage of just 0.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.56 | 1.56 | 1.59 | 1.24 | 1.03 | 1.46 | 1.77 | 1.70 | 1.58 | 1.75 | 1.53 |
| Debt / EBITDA | 9.12 | 9.12 | 10.65 | 10.06 | 5.21 | 25.36 | 10.22 | 9.81 | 10.01 | 9.49 | 8.04 |
| Net Debt / Equity | — | 0.43 | 0.32 | 0.37 | -0.21 | 0.04 | 1.02 | 0.82 | 0.54 | 1.65 | 1.43 |
| Net Debt / EBITDA | 2.54 | 2.54 | 2.15 | 2.98 | -1.04 | 0.68 | 5.88 | 4.73 | 3.43 | 8.93 | 7.53 |
| Debt / FCF | — | 25.87 | 1.48 | 2.47 | — | 3.58 | 28.45 | 4.48 | 6.03 | 328.50 | 17.48 |
| Interest Coverage | 0.54 | 0.54 | 0.66 | 1.72 | 7.55 | 0.31 | 1.38 | 1.95 | 2.93 | 5.44 | 8.46 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.27x is below 1.0, meaning current liabilities exceed current assets — though the company's $203.4B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.21x to 0.27x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.27 | 0.27 | 0.29 | 0.21 | 0.28 | 0.35 | 0.31 | 0.34 | 0.19 | 0.06 | 0.05 |
| Quick Ratio | 0.27 | 0.27 | 0.29 | 0.21 | 0.28 | 0.35 | 0.31 | 0.34 | 0.19 | 0.06 | 0.05 |
| Cash Ratio | 0.14 | 0.14 | 0.16 | 0.11 | 0.15 | 0.17 | 0.09 | 0.12 | 0.14 | 0.01 | 0.01 |
| Asset Turnover | — | 0.06 | 0.06 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Wells Fargo & Company returns 10.7% to shareholders annually — split between a 1.8% dividend yield and 8.8% buyback yield. The payout ratio of 26.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.8% | 2.1% | 2.6% | 2.6% | 1.2% | 3.9% | 3.4% | 3.5% | 2.5% | 2.7% | 2.6% |
| Payout Ratio | 26.0% | 26.0% | 25.0% | 30.5% | 11.0% | 143.7% | 41.6% | 34.4% | 33.7% | 34.1% | 32.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 7.6% | 9.8% | 7.6% | 10.4% | 1.4% | 7.6% | 9.3% | 6.8% | 7.2% | 7.6% |
| FCF Yield | 1.2% | 1.2% | 22.0% | 17.1% | — | 1.6% | 2.8% | 16.2% | 6.1% | 0.4% | 5.6% |
| Buyback Yield | 8.8% | 9.2% | 7.4% | 3.8% | 10.8% | 5.6% | 11.0% | 10.2% | 3.3% | 2.9% | 3.1% |
| Total Shareholder Yield | 10.7% | 11.3% | 10.0% | 6.4% | 12.0% | 9.5% | 14.4% | 13.7% | 5.7% | 5.5% | 5.7% |
| Shares Outstanding | — | $3.5B | $3.7B | $3.8B | $4.1B | $4.1B | $4.4B | $4.8B | $5.0B | $5.1B | $5.2B |
Compare WFC with 8 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| WFCYou | $252B | 15.2 | 10.7 | 83.0 | 62.2% | 18.6% | 10.7% | 3.7% | 9.1 |
| JPM | $810B | 15.2 | 13.1 | — | 58.6% | 27.7% | 17.4% | 5.4% | 9.0 |
| BAC | $379B | 13.0 | 14.0 | 30.1 | 55.4% | 18.5% | 10.2% | 3.2% | 10.0 |
| RY | $234B | 16.2 | 37.2 | 6.0 | 45.3% | 18.7% | 15.3% | 2.0% | 29.1 |
| C | $193B | 18.5 | 23.7 | — | 41.7% | 10.0% | 6.1% | 1.6% | 27.7 |
| TD | $163B | 11.5 | 29.5 | — | 49.0% | 20.7% | 16.9% | 2.3% | 25.4 |
| BMO | $102B | 17.2 | 35.3 | 16.4 | 41.6% | 14.8% | 10.1% | 1.8% | 30.2 |
| BNS | $94B | 18.2 | 46.7 | 25.3 | 44.3% | 14.4% | 9.0% | 1.6% | 41.6 |
| CM | $94B | 16.1 | 35.3 | — | 43.0% | 17.6% | 13.7% | 2.1% | 29.4 |
| Financial Services Median | — | 13.8 | 11.1 | 11.2 | 60.2% | 21.9% | 9.1% | 5.4% | 4.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonWells Fargo & Company's current P/E ratio is 15.2x. The historical average is 17.9x. This places it at the 67th percentile of its historical range.
Wells Fargo & Company's current EV/EBITDA is 10.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.3x.
Wells Fargo & Company's return on equity (ROE) is 10.7%. The historical average is 14.1%.
Based on historical data, Wells Fargo & Company is trading at a P/E of 15.2x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Wells Fargo & Company's current dividend yield is 1.82% with a payout ratio of 26.0%.
Wells Fargo & Company has 62.2% gross margin and 18.6% operating margin. Operating margin between 10-20% is typical for established companies.
Wells Fargo & Company's Debt/EBITDA ratio is 9.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.