Q4 25 EPS
$1.62
MISS 2.99%
Est. $1.67
Q4 25 Revenue
$21.29B
vs S&P Since Q4 25
-13.9%
TRAILING MARKET
WFC -9.6% vs S&P +4.4%
Full Year 2025 Results
FY 25 EPS
$6.26
MISS 0.87%
Est. $6.31
FY 25 Revenue
$83.70B
MISS 0.45%
Est. $84.08B
Market Reaction
Did WFC Beat Earnings? Q4 2025 Results
Wells Fargo closed Q4 2025 with a modest earnings miss, posting GAAP EPS of $1.62 against the $1.67 consensus estimate, a shortfall of 2.99%, while revenue of $21.29 billion reflected a 30.4% year-over-year decline. A significant factor weighing on t… Read more Wells Fargo closed Q4 2025 with a modest earnings miss, posting GAAP EPS of $1.62 against the $1.67 consensus estimate, a shortfall of 2.99%, while revenue of $21.29 billion reflected a 30.4% year-over-year decline. A significant factor weighing on the headline figure was $612 million in severance expense; stripping that out, adjusted EPS climbed to $1.76, painting a cleaner picture of underlying momentum. The quarter capped a landmark year for the bank, most notably the removal of the Federal Reserve's longstanding asset cap, which has paved the way for accelerated balance sheet expansion. Net interest income rose 4% year-over-year to $12.33 billion, supported by loan growth and fixed-rate asset repricing, while the Wealth and Investment Management segment reached $2.51 trillion in total client assets. Looking ahead, management projects 2026 NII excluding Markets of approximately $48 billion, up from $46.75 billion, and has raised its medium-term ROTCE target to 17-18%, signaling confidence in the bank's growth trajectory as constraints ease.
Key Takeaways
- • Net interest income growth of 4% driven by higher loan and investment securities balances and fixed rate asset repricing
- • Strong credit card new account growth of over 20% year-over-year
- • Auto lending balances up 19% from prior year
- • Commercial loans grew 12%
- • Investment banking fees increased 14% with M&A ranking improving from 12th to 8th
- • Higher asset-based fees in Wealth and Investment Management on higher market valuations
- • Gross expense reductions of $15 billion over past 5 years funding investments while reducing total expense base
- • Removal of Federal Reserve asset cap enabling balance sheet growth
WFC YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
WFC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Strong financial performance, removal of the asset cap imposed by the Federal Reserve, termination of multiple consent orders, and stronger growth in both our consumer and commercial businesses make me proud of our 2025 results.”
— Charlie Scharf, Q4 2025 Earnings Press Release
WFC Earnings Trends
WFC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WFC EPS Trend
Earnings per share: estimate vs actual
WFC Revenue Trend
Quarterly revenue: estimate vs actual
WFC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $1.60 | — | $21.45B | — |
| Q4 25 MISS FY | $1.67 | $1.62 | -2.99% | $21.29B | — |
| FY Full Year | $6.31 | $6.26 | -0.87% | $83.70B | -0.45% |
| Q3 25 BEAT | $1.55 | $1.66 | +7.43% | $21.44B | +1.29% |
| Q2 25 BEAT | $1.40 | $1.60 | +14.10% | $20.82B | +0.28% |
| Q1 25 BEAT | $1.23 | $1.39 | +13.31% | $20.15B | -2.94% |