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"preferred_stock_issued": 2246000000, "preferred_stock_redeemed": -3510000000, "preferred_stock_dividends_paid": -495000000, "common_stock_repurchased": -7015000000, "common_stock_dividends_paid": -2753000000, "net_change_in_cash": 28868000000, "cash_and_equivalents_end_of_period": 201461000000 }, "key_metrics": { "return_on_average_assets_pct": 1.07, "return_on_average_equity_pct": 13.6, "return_on_average_tangible_common_equity_pct": 16.1, "efficiency_ratio_pct": 64.0, "net_interest_margin_pct": 2.45, "net_interest_income_taxable_equivalent": 24560000000, "net_charge_offs": 1989000000, "pre_tax_pre_provision_profit": 16077000000, "dividends_declared_per_common_share": 0.9 }, "segments": { "consumer_banking_and_lending": { "net_interest_income": 15293000000, "noninterest_income": 4993000000, "total_revenue": 20286000000, "provision_for_credit_losses": 1763000000, "total_noninterest_expense": 12875000000, "income_before_income_tax_expense": 5648000000, "income_tax_expense": 1417000000, 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"corporate": { "net_interest_income": -1049000000, "noninterest_income": 1230000000, "total_revenue": 181000000, "provision_for_credit_losses": 4000000, "total_noninterest_expense": 485000000, "income_before_income_tax_expense": -308000000, "income_tax_expense": -672000000, "net_income": 93000000 }, "reconciling_items": { "net_interest_income": -147000000, "noninterest_income": -960000000, "total_revenue": -1107000000, "provision_for_credit_losses": 0, "total_noninterest_expense": 0, "income_before_income_tax_expense": -1107000000, "income_tax_expense": -1107000000, "net_income": 0 } } }, "trailing_twelve_months": { "label": "Trailing twelve months ended June 30, 2026", "period_start": "2025-07-01", "period_end": "2026-06-30", "period_type": "twelve months", "source_accession": "0000072971-26-000133; 0000072971-26-000302", "derivation": "Sum of the four quarters this record holds (Q3 2025, Q4 2025, Q1 2026, Q2 2026). Cash flow is the FY2025 full year plus the six months ended June 30, 2026 less the six months ended June 30, 2025. Diluted earnings per common share is the sum of the four quarterly amounts; the share counts are the simple average of the four quarterly weighted-average counts.", "income_statement": { "total_interest_income": 90750000000, "total_interest_expense": 42056000000, "net_interest_income": 48694000000, "deposit_and_lending_related_fees": 6832000000, "investment_advisory_and_other_asset_based_fees": 11108000000, "commissions_and_brokerage_services_fees": 2662000000, "investment_banking_fees": 3291000000, "card_fees": 4732000000, "mortgage_banking": 1047000000, "net_gains_from_trading_and_securities": 6622000000, "other_noninterest_income": 1808000000, "total_noninterest_income": 38102000000, "total_revenue": 86796000000, "provision_for_credit_losses": 3770000000, "personnel_expense": 36542000000, "technology_telecommunications_and_equipment_expense": 5547000000, "occupancy_expense": 3205000000, "professional_and_outside_services_expense": 4588000000, "advertising_and_promotion_expense": 1377000000, "other_noninterest_expense": 4304000000, "total_noninterest_expense": 55563000000, "income_before_income_tax_expense": 27463000000, "income_tax_expense": 4496000000, "net_income_before_noncontrolling_interests": 22967000000, "net_income_from_noncontrolling_interests": 357000000, "net_income": 22610000000, "preferred_stock_dividends_and_other": 995000000, "net_income_applicable_to_common_stock": 21615000000, "diluted_eps": 6.88, "diluted_shares": 3143700000, "basic_shares": 3105000000 }, "cash_flow": { "operating_cash_flow": 19170000000, "investing_cash_flow": -253872000000, "financing_cash_flow": 243030000000, "cash_and_equivalents_end_of_period": 201461000000, "net_change_in_cash": 8328000000 }, "key_metrics": { "net_charge_offs": 3973000000, "efficiency_ratio_pct": 64.0, "pre_tax_pre_provision_profit": 31233000000 } }, "segment_definitions": { "reportable_segments": [ "Consumer Banking and Lending", "Commercial Banking", "Corporate and Investment Banking", "Wealth and Investment Management" ], "corporate": "All other business activities that are not included in the reportable operating segments are reported in Corporate.", "reconciling_items": "Taxable-equivalent adjustments included in the segment results are eliminated here to reconcile to the consolidated totals, so the six segment columns sum to the consolidated company figure." }, "notes": [ "Wells Fargo is presented on a bank template rather than a revenue/cost-of-revenue template: the top of the income statement is net interest income plus noninterest income (which the filings add together and label total revenue), followed by the provision for credit losses and noninterest expense. There is no cost of revenue, gross profit or capital expenditure line in these filings, so none is reported here.", "All figures come from two filings: the FY2025 Annual Report on Form 10-K (accession 0000072971-26-000133, filed February 24, 2026) and the Form 10-Q for the quarter ended June 30, 2026 (accession 0000072971-26-000302, filed July 28, 2026). Every period carries the accession of the filing whose printed column it was taken from.", "Amounts are stated in actual U.S. dollars. The statements themselves are printed in millions and the share counts in millions, so a figure printed as 83,699 is stored here as 83,699,000,000 and a share count printed as 3,242.3 as 3,242,300,000. Per-share amounts, ratios and percentages are stored as the filings print them.", "Annual coverage follows what the 10-K puts on its face: the income statement and cash flow statement present fiscal 2025, 2024 and 2023, while the balance sheet presents only December 31, 2025 and 2024. FY2023 therefore carries a partial balance sheet - total assets, loans, deposits, securities, equity, common stockholders' equity, tangible common equity and shares outstanding, which the 10-K's three-year summary table and its tangible common equity reconciliation do print - and no full liability detail, because that column is not in the filing.", "Quarterly coverage likewise follows the filings. The 10-K's Quarterly Financial Data section prints a discrete condensed income statement for each of the eight quarters of 2025 and 2024, and the 10-Q prints the quarters ended June 30, 2026 and June 30, 2025. Those quarters are reported here as separate three-month periods. That quarterly section prints income statement lines only, so the four 2024 quarters and the first and third quarters of 2025 carry no balance sheet or capital ratios; the quarter ended December 31, 2025 does carry them, because it is a fiscal year end and the 10-K's balance sheet and capital tables present that date.", "The quarter ended March 31, 2026 was derived, not copied: its income statement is the 10-Q's six months ended June 30, 2026 column less its quarter ended June 30, 2026 column. The result was checked against the same quarter as printed in the 10-Q's Summary Financial Data table, which independently states total revenue of $21,446 million, noninterest expense of $14,330 million, a provision of $1,135 million, net income of $5,253 million, net income applicable to common stock of $5,000 million and diluted earnings per common share of $1.60 - all of which the differenced figures reproduce exactly. Basic earnings per common share is not reported for that quarter because neither filing prints it and it cannot be obtained by subtraction.", "The trailing-twelve-month view is the sum of the four quarters this record holds (Q3 2025, Q4 2025, Q1 2026 and Q2 2026). Its cash flow is the FY2025 full year plus the six months ended June 30, 2026 less the six months ended June 30, 2025; the resulting net change in cash of $8,328 million ties to the difference between the cash balances the 10-Q prints at June 30, 2026 and June 30, 2025.", "Prior-period revision honored: in fourth quarter 2025 Wells Fargo changed the presentation of certain balance sheet items, including trading assets and liabilities and short-term borrowings, with corresponding changes to the income statement; it reclassified gains and losses on physical commodities inventory and the related hedges from other noninterest income into net gains from trading activities, reclassified lease income into other noninterest income, and reclassified operating losses into other noninterest expense. Prior periods were revised by the company to conform. Every figure here is on the revised basis as printed in the FY2025 10-K and the June 2026 10-Q, so the FY2024 and FY2023 columns will not match those companies' originally filed statements line for line even though total revenue and net income are unchanged.", "Segment realignment: in third quarter 2025 approximately $8 billion of loans and approximately $6 billion of deposits for certain business customers were transferred prospectively from Commercial Banking to Consumer, Small and Business Banking within Consumer Banking and Lending. The transfer was prospective, so earlier segment periods were not restated.", "Segment figures are reported for the four reportable segments plus Corporate and a reconciling-items column; the six columns sum to the consolidated company figure on every line, which was verified for each period reported here. Segment period-end loans, assets and deposits are printed only for December 31, 2025 and December 31, 2024.", "Regulatory context: the 10-K notes an expense for a special award to employees related to the removal of the company's asset cap in 2025. The Federal Reserve removed that asset cap - the limitation on growth in total assets imposed by the February 2, 2018 consent order - on June 3, 2025, and on March 5, 2026 the Federal Reserve terminated the February 2018 consent order itself, which concerned board governance and oversight and the company's compliance and operational risk management program. That termination is disclosed in the Form 10-Q for the quarter ended March 31, 2026 (accession 0000072971-26-000217); it postdates the FY2025 10-K, which still describes the order as in effect. Separately, and still in force, is the September 12, 2024 formal agreement between Wells Fargo Bank, N.A. and the Office of the Comptroller of the Currency concerning the bank's anti-money-laundering and sanctions risk-management practices, described in the Form 10-Q for the quarter ended June 30, 2026 (accession 0000072971-26-000302). Other regulatory inquiries and legal matters described in that filing also remain open.", "Return on average tangible common equity, tangible common equity and tangible book value per common share are non-GAAP measures the company defines and reconciles in its filings; they are reported here as the filings state them. Net interest margin is on a taxable-equivalent basis, the basis on which both filings present it.", "The efficiency ratio is noninterest expense divided by total revenue, as the filings define it; return on average equity is net income applicable to common stock divided by average common stockholders' equity; return on average assets is Wells Fargo net income divided by average assets.", "Common Equity Tier 1 is reported under both the Standardized and Advanced Approaches. The Standardized Approach was the company's binding framework at December 31, 2025 and at June 30, 2026.", "No split, currency or depositary-receipt adjustment applies. Wells Fargo reports in U.S. dollars, is a domestic filer rather than an ADR issuer, and had no stock split in the period these filings cover." ], "uncertainties": [ "The quarter ended March 31, 2026 is a derived period. Its totals are confirmed against the 10-Q's own first-quarter column, but its individual noninterest income and noninterest expense components - and its interest income and interest expense - are subtractions rather than figures the filing prints on their own, because no first-quarter 2026 column of those line items appears in either filing.", "Basic earnings per common share for the quarter ended March 31, 2026 is absent. It cannot be derived by subtraction because each period's per-share amount uses that period's own weighted-average share count.", "The FY2023 balance sheet is partial by design. The FY2025 10-K's balance sheet presents only December 31, 2025 and 2024, so FY2023 carries only those balance-sheet items the 10-K's summary and tangible common equity tables print, and no total liabilities figure.", "The four 2024 quarters and the first and third quarters of 2025 carry an income statement only. The 10-K's Quarterly Financial Data section does not print balance sheet, capital or credit metrics per quarter, and neither filing prints them elsewhere for those dates.", "Trailing-twelve-month diluted earnings per common share of $6.88 is the sum of the four quarterly amounts, and the accompanying share counts are the simple average of the four quarterly weighted-average counts. No filing states a trailing-twelve-month per-share figure, and a weighted-average computation over the full twelve months could differ by about a cent.", "Net charge-offs are reported for fiscal 2025, 2024 and 2023 and for the quarters ended June 30, 2026, March 31, 2026 and June 30, 2025 only; the filings do not print a per-quarter figure for the other quarters shown here." ], "headline": { "period": "Q2 FY2026", "period_end_words": "June 30, 2026", "metrics": [ { "label": "Total revenue", "format": "usd", "value": 22622000000, "text": "$22.62 billion", "exact": "$22,622,000,000", "compact": "$22.62B", "abs": "$22.62 billion", "prior_value": 20822000000, "prior": "$20.82 billion", "priorabs": "$20.82 billion", "yoy": "up 8.6%", "source": { "array": "quarterly", "field": "income_statement.total_revenue", "index": 0, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000072971-26-000302", "prior_index": 4, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000072971-26-000302", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 6407000000, "text": "$6.41 billion", "exact": "$6,407,000,000", "compact": "$6.41B", "abs": "$6.41 billion", "prior_value": 5494000000, "prior": "$5.49 billion", "priorabs": "$5.49 billion", "yoy": "up 16.6%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 0, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000072971-26-000302", "prior_index": 4, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000072971-26-000302", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 2, "text": "$2.00", "exact": "$2.00", "compact": "$2.00", "abs": "$2.00", "prior_value": 1.6, "prior": "$1.60", "priorabs": "$1.60", "yoy": "up 25.0%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 0, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000072971-26-000302", "prior_index": 4, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000072971-26-000302", "gap_days": 365 } }, { "label": "Net interest income", "format": "usd", "value": 12317000000, "text": "$12.32 billion", "exact": "$12,317,000,000", "compact": "$12.32B", "abs": "$12.32 billion", "prior_value": 11708000000, "prior": "$11.71 billion", "priorabs": "$11.71 billion", "yoy": "up 5.2%", "source": { "array": "quarterly", "field": "income_statement.net_interest_income", "index": 0, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000072971-26-000302", "prior_index": 4, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000072971-26-000302", "gap_days": 365 } }, { "label": "Efficiency ratio", "format": "pct", "value": 60, "text": "60.0%", "exact": "60.0%", "compact": "60.0%", "abs": "60.0%", "prior_value": 64, "prior": "64.0%", "priorabs": "64.0%", "yoy": "down 4.0 points", "source": { "array": "quarterly", "field": "key_metrics.efficiency_ratio_pct", "index": 0, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000072971-26-000302", "prior_index": 4, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000072971-26-000302", "gap_days": 365 } } ], "summary": "Wells Fargo reported $22.62 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 8.6% from a year earlier, with net income of $6.41 billion, up 16.6%, and diluted earnings per share of $2.00, up 25.0% as buybacks reduced the share count. Net interest income was $12.32 billion, up 5.2%, as loans and deposits grew following the removal of the Federal Reserve asset cap that had limited its growth for years, while fee income rose on higher investment advisory, investment banking and venture capital results. The efficiency ratio improved to 60.0% from 64.0% as expense growth ran well below revenue growth, and credit costs eased on lower net charge offs.", "qa": [ { "q": "How much did Wells Fargo earn in Q2 FY2026?", "a": "Wells Fargo earned net income of $6.41 billion in Q2 FY2026, the quarter ended June 30, 2026, up 16.6% from $5.49 billion in the same quarter a year earlier. That worked out to $2.00 per diluted share, up 25.0%, with the per share figure rising faster than net income because share buybacks reduced the count of shares outstanding." }, { "q": "What was Wells Fargo's revenue in Q2 FY2026?", "a": "Wells Fargo reported $22.62 billion of revenue, net of interest expense, for Q2 FY2026, the quarter ended June 30, 2026. That is up 8.6% from $20.82 billion a year earlier, with growth in all four operating segments." }, { "q": "How much net interest income did Wells Fargo report in Q2 FY2026?", "a": "Wells Fargo reported net interest income of $12.32 billion for Q2 FY2026, up 5.2% from $11.71 billion a year earlier, on lower average deposit costs and higher loan and investment securities balances. The net interest margin still narrowed over the year, as growth came largely from lower yielding markets assets and interest bearing deposits." }, { "q": "What was Wells Fargo's efficiency ratio in Q2 FY2026?", "a": "Wells Fargo's efficiency ratio was 60.0% in Q2 FY2026, down 4.0 points from 64.0% a year earlier. A lower efficiency ratio means less noninterest expense for each dollar of revenue, and the improvement came from revenue growing far faster than expense." } ] }, "company_details": { "Name": "Wells Fargo & Company/Mn", "Ticker": "WFC", "CIK": "0000072971", "Exchange": "NYSE", "State": "California", "Incorporation": "Delaware", "SIC": "6021", "Office": "Finance", "Industry": "National Commercial Banks" }, "next_filing": { "predicted_date": "2026-10-30", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "form": "10-Q", "accession": "0000072971-26-000302", "fiscal_year_end": "1231", "source": "facts" } }