Explain this page
Arphra AIPlain-English read on Wells Fargo & Company’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Headline | ||||||||
| Market cap | — | — | — | — | — | — | — | — |
| Enterprise value | — | — | — | — | — | — | — | — |
| Multiples | ||||||||
| P / E | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
| Yields | ||||||||
| Earnings yield | — | — | — | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin | +100.29% | +87.29% | +66.93% | +62.17% | +64.80% | +63.71% | +63.61% | +65.79% |
| Operating margin | +35.58% | +18.73% | +18.76% | +18.63% | +20.40% | +18.75% | +18.80% | +18.73% |
| EBITDA margin | +45.08% | +26.92% | +24.20% | +24.66% | +23.76% | +23.90% | +24.51% | +24.76% |
| EBIT margin | +35.58% | +18.73% | +18.76% | +18.63% | +20.40% | +19.68% | +19.59% | +19.59% |
| Pre-tax margin | +35.58% | +18.73% | +18.76% | +18.63% | +20.40% | +19.09% | +19.05% | +19.03% |
| Net margin | +26.61% | +16.39% | +16.60% | +15.73% | +17.27% | +16.20% | +17.02% | +16.41% |
| Cost structure | ||||||||
| Cost of revenue / sales | -0.29% | +12.71% | +33.07% | +37.83% | +35.20% | +36.33% | +35.53% | +35.89% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +43.50% | +42.66% | +32.37% | +29.69% | +32.81% | +31.27% | +32.06% | +31.19% |
| Effective tax rate | +19.50% | +14.40% | +12.05% | +14.55% | +15.24% | +14.05% | +14.35% | +14.32% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Returns | ||||||||
| Return on equity (ROE) | +11.63% | +7.51% | +10.21% | +10.89% | +11.66% | +10.73% | +11.04% | +10.83% |
| Return on assets (ROA) | +1.13% | +0.73% | +0.99% | +1.02% | +0.99% | +0.98% | +1.02% | +0.99% |
| Return on capital (ROC) | +7.67% | +3.83% | +4.46% | +5.05% | +4.14% | +4.47% | +4.44% | +4.42% |
| Return on invested capital (ROIC) | +5.74% | +3.35% | +3.95% | +4.26% | +3.51% | +3.87% | +4.02% | +3.87% |
| Asset turnover | +4.26% | +4.44% | +5.97% | +6.50% | +5.75% | +6.07% | +5.99% | +6.01% |
| DuPont · ROE decomposition | ||||||||
| Net margin | +26.61% | +16.39% | +16.60% | +15.73% | +17.27% | +16.20% | +17.02% | +16.41% |
| Asset turnover (× revenue / assets) | +4.26% | +4.44% | +5.97% | +6.50% | +5.75% | +6.07% | +5.99% | +6.01% |
| Equity multiplier (× assets / equity) | +1024.71% | +1032.32% | +1030.96% | +1065.82% | +1173.87% | +1090.48% | +1081.81% | +1098.53% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Turnover | ||||||||
| Asset turnover | 0.04 | 0.04 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
| Fixed-asset turnover | 4.48 | 4.64 | 6.32 | 6.45 | 6.17 | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — |
| Receivables turnover | 2.11 | 1.88 | 2.15 | 2.96 | 5.38 | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — |
| Days outstanding | ||||||||
| Days sales outstanding (DSO) | 172.68 | 194.06 | 170.01 | 123.29 | 67.90 | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — | — |
| Cash conversion cycle | 172.68 | 194.06 | 170.01 | 123.29 | 67.90 | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | -0.52 | 1.98 | 2.11 | 0.15 | -0.89 | 0.47 | 0.42 | 0.45 |
| FCF / Net income | -0.52 | 1.98 | 2.11 | 0.15 | -0.89 | 0.45 | 0.44 | 0.45 |
| FCF margin | -13.87% | +32.42% | +34.99% | +2.42% | -15.38% | +7.27% | +7.46% | +7.44% |
| OCF margin | -13.87% | +32.42% | +34.99% | +2.42% | -15.38% | +7.55% | +7.16% | +7.32% |
| CapEx / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| CapEx / D&A | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Stock-based comp / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 4.99 | 3.14 | 4.83 | 5.37 | 6.32 | 7.00 | 7.90 | 9.06 |
| EPS · basic | 4.99 | 3.17 | 4.88 | 5.43 | 6.39 | 6.97 | 7.92 | 9.25 |
| Book value / share | 46.41 | 47.49 | 50.38 | 52.22 | 56.89 | 41.40 | 44.01 | 45.70 |
| Tangible BV / share | 38.21 | 38.20 | 41.33 | 42.72 | 47.16 | 41.40 | 44.01 | 45.70 |
| Sales / share | 20.28 | 21.75 | 31.00 | 36.16 | 38.39 | 27.41 | 28.54 | 30.16 |
| Operating CF / share | -2.81 | 7.05 | 10.85 | 0.88 | -5.91 | 2.07 | 2.04 | 2.21 |
| Free cash flow / share | -2.81 | 7.05 | 10.85 | 0.88 | -5.91 | 1.99 | 2.13 | 2.24 |
| Dividends / share | 0.59 | 1.09 | 1.29 | 1.48 | 1.69 | 1.13 | 1.24 | 1.28 |
| Payout ratio | +10.95% | +30.55% | +25.02% | +26.03% | +25.47% | +25.49% | +25.50% | +25.92% |
| Retention ratio | +89.05% | +69.45% | +74.98% | +73.97% | +74.53% | +74.51% | +74.50% | +74.08% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 7y CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Top-line | |||||||||
| Revenue · YoY | — | +0.43% | +38.23% | +8.72% | -1.49% | -28.89% | +4.91% | +5.33% | +2.25% |
| Gross profit · YoY | — | -12.59% | +5.99% | +0.99% | +2.67% | -30.08% | +4.75% | +8.94% | -3.73% |
| Profit | |||||||||
| Operating income · YoY | — | -47.13% | +38.43% | +7.99% | +7.85% | -34.65% | +5.23% | +4.91% | -6.71% |
| EBITDA · YoY | — | -40.03% | +24.25% | +10.80% | -5.10% | -28.47% | +7.60% | +6.40% | -6.14% |
| Net income · YoY | — | -38.14% | +39.96% | +3.03% | +8.19% | -33.30% | +10.20% | +1.58% | -4.57% |
| Operating | |||||||||
| EBIT · YoY | — | -47.13% | +38.43% | +7.99% | +7.85% | -31.38% | +4.43% | +5.30% | -6.11% |
| R&D · YoY | — | — | — | — | — | — | — | — | — |
| Per-share | |||||||||
| EPS · diluted · YoY | — | -37.07% | +53.82% | +11.18% | +17.69% | +10.74% | +12.85% | +14.70% | +8.89% |
| EPS · basic · YoY | — | -36.47% | +53.94% | +11.27% | +17.68% | +9.15% | +13.56% | +16.79% | +9.22% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Leverage | ||||||||
| Total debt | $195.1B | $226.02B | $297.15B | $281.88B | $425.72B | $235.5B | $248.14B | $264.24B |
| Net debt | -$39.13B | $66.86B | $59.93B | $78.52B | $251.51B | $82.14B | $87.62B | $100.81B |
| Net debt / EBITDA | -1.04 | 2.98 | 2.15 | 2.54 | 8.57 | 3.91 | 3.88 | 4.19 |
| Debt / equity | 1.03 | 1.24 | 1.59 | 1.56 | 2.33 | 1.77 | 1.75 | 1.80 |
| Debt / assets | +10.01% | +12.02% | +15.38% | +14.61% | +19.81% | +16.27% | +16.14% | +16.36% |
| Equity / assets | +9.76% | +9.69% | +9.70% | +9.38% | +8.52% | +9.17% | +9.24% | +9.10% |
| Coverage | ||||||||
| EBITDA / interest expense | 9.57 | 2.48 | 0.85 | 0.72 | 0.74 | 0.77 | 0.77 | 0.79 |
| Operating income / interest | 7.55 | 1.72 | 0.66 | 0.54 | 0.63 | 0.60 | 0.59 | 0.60 |
| Interest expense | $3.92B | $9.07B | $32.74B | $43.1B | $39.83B | $27.35B | $29.26B | $30.23B |
| Liquidity | ||||||||
| Current ratio | 0.28 | 0.21 | 0.29 | 0.27 | 0.29 | — | — | — |
| Quick ratio | 0.28 | 0.21 | 0.29 | 0.27 | 0.29 | — | — | — |
| Cash ratio | 0.15 | 0.11 | 0.16 | 0.14 | 0.10 | — | — | — |
| Working capital | -$1.14T | -$1.19T | -$1.03T | -$1.07T | -$1.23T | — | — | — |
| Working capital / revenue | -1368.62% | -1422.63% | -894.22% | -857.11% | -994.22% | — | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).