Wells Fargo & Company (NYSE: WFC)

Banks - Diversified · San Francisco, CA, United States · Founded 1852

$200.0B

Market Cap

$85.06B

Revenue

234,000

Employees

$21.34B

Net Income

📊 Key Statistics for Wells Fargo & Company (WFC)

Market capitalization: $200.0 billion
Annual revenue: $85.06 billion
Net income: $21.34 billion
Employees: 234,000
Sector: Financial Services
Headquarters: San Francisco, United States
Founded: 1852

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📋 About Wells Fargo & Company

Wells Fargo is the fourth-largest U.S. bank by assets (~$1.9 trillion) and the largest mortgage lender in the country. It serves about 70 million customers through roughly 4,500 branches. Revenue is approximately $82 billion. The bank has been operating under a Fed-imposed asset cap since 2018 — a punishment for the fake accounts scandal that has constrained growth for years.

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💰 How Wells Fargo & Company Makes Money

Consumer banking and lending (mortgages, auto, cards) drive the largest share of revenue. Commercial banking, corporate/investment banking, and wealth management round out the mix. Wells Fargo is more deposit-heavy and lending-focused than peers like JPMorgan or Goldman, making it highly sensitive to interest rate movements.

📜 Key Milestones

Henry Wells and William Fargo founded the company in 1852 during the California Gold Rush. The 2008 acquisition of Wachovia during the financial crisis made it a coast-to-coast giant. The 2016 fake accounts scandal — where employees opened millions of unauthorized accounts to meet sales targets — triggered the worst reputational crisis in modern banking. CEO Charlie Scharf, hired in 2019, has been methodically cleaning up the mess.

📊 Financial Overview

Market Capitalization	$200.0B
Annual Revenue	$85.06B
Net Income	$21.34B
Profit Margin	25%
Revenue per Employee	$363504K
Stock Exchange	NYSE
Ticker Symbol	WFC

Financial data is approximate and based on most recent annual filings.

💡 Did You Know?

The Fed asset cap, imposed in 2018, has prevented Wells Fargo from growing its balance sheet above ~$1.95 trillion — costing it billions in foregone revenue. The fake accounts scandal ultimately involved over 3.5 million unauthorized accounts. Wells Fargo's iconic stagecoach logo dates back to the actual stagecoach express service the company ran in the 1850s-1860s.

📝 Analyst Take

When the asset cap finally comes off — and it will — Wells Fargo's earnings power should jump significantly. Scharf has done the hard work; the stock is a bet on regulatory normalization.

❓ Frequently Asked Questions