Explain this page
Arphra AIPlain-English read on Wells Fargo & Company’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $83.08B | $83.44B | $115.34B | $125.4B | $123.53B | $87.84B | $92.15B | $97.07B |
| Cost of revenue | -$240M | $10.61B | $38.14B | $47.44B | $43.49B | $31.91B | $32.74B | $34.84B |
| Gross profit | $83.32B | $72.83B | $77.2B | $77.96B | $80.04B | $55.97B | $58.62B | $63.86B |
| Gross margin | +100.29% | +87.29% | +66.93% | +62.17% | +64.80% | +63.71% | +63.61% | +65.79% |
| Operating | ||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $36.14B | $35.6B | $37.34B | $37.23B | $40.53B | $27.47B | $29.55B | $30.27B |
| Total operating expenses | $53.76B | $57.21B | $55.56B | $54.6B | $54.84B | $39.18B | $42.37B | $42.84B |
| Operating income | $29.56B | $15.63B | $21.64B | $23.36B | $25.2B | $16.47B | $17.33B | $18.18B |
| Operating margin | +35.58% | +18.73% | +18.76% | +18.63% | +20.40% | +18.75% | +18.80% | +18.73% |
| EBITDA | $37.45B | $22.46B | $27.91B | $30.92B | $29.35B | $20.99B | $22.59B | $24.03B |
| EBIT | $29.56B | $15.63B | $21.64B | $23.36B | $25.2B | $17.29B | $18.06B | $19.01B |
| Below the line | ||||||||
| Interest expense | $3.92B | $9.07B | $32.74B | $43.1B | $39.83B | $27.35B | $29.26B | $30.23B |
| Interest income | $39.69B | $54.02B | $85.12B | $90.78B | $87.31B | $63.11B | $66.28B | $68.64B |
| Other income / expense | $0 | $0 | $0 | $0 | $0 | — | — | — |
| Pre-tax income | $29.56B | $15.63B | $21.64B | $23.36B | $25.2B | $16.77B | $17.56B | $18.47B |
| Income tax expense | $5.76B | $2.25B | $2.61B | $3.4B | $3.84B | $2.36B | $2.52B | $2.65B |
| Earnings | ||||||||
| Net income | $22.11B | $13.68B | $19.14B | $19.72B | $21.34B | $14.23B | $15.69B | $15.93B |
| Net income · continuing ops | $23.8B | $13.38B | $19.03B | $19.97B | $21.36B | $14.57B | $15.09B | $16.1B |
| Net margin | +26.61% | +16.39% | +16.60% | +15.73% | +17.27% | +16.20% | +17.02% | +16.41% |
| EPS · basic | $4.99 | $3.17 | $4.88 | $5.43 | $6.39 | $6.97 | $7.92 | $9.25 |
| EPS · diluted | $4.99 | $3.14 | $4.83 | $5.37 | $6.32 | $7.00 | $7.90 | $9.06 |
| EPS · low estimate | — | — | — | — | — | $6.12 | $6.85 | $7.75 |
| EPS · high estimate | — | — | — | — | — | $7.29 | $8.32 | $9.49 |
| Shares · basic | 4.06B | 3.81B | 3.69B | 3.43B | 3.18B | 3.19B | 3.16B | 3.21B |
| Shares · diluted | 4.1B | 3.84B | 3.72B | 3.47B | 3.22B | 3.2B | 3.23B | 3.22B |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 9 | 2 |
| Analysts (EPS) | — | — | — | — | — | 16 | 15 | 8 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro