WFCMEDIUM SIGNALFINANCIAL10-K

Wells Fargo expanded its balance sheet notably with assets growing to $2.1 trillion and total liabilities increasing to $2.0 trillion, while reducing share count by over 200 million shares.

The balance sheet expansion reflects meaningful business growth, with loan portfolio increasing from $912.7 billion to $986.2 billion alongside asset growth of 11.3%. The substantial share count reduction from 3.29 billion to 3.09 billion shares indicates continued capital return to shareholders through buybacks, which should benefit earnings per share.

Comparing 2026-02-24 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

Wells Fargo demonstrated balanced growth with both assets and liabilities expanding at similar rates of approximately 11-12%, suggesting disciplined expansion rather than excessive leverage buildup. The loan portfolio grew meaningfully while deposits remained stable at $1.4 trillion, indicating improved loan-to-deposit utilization. Stockholders' equity increased modestly to $181.1 billion from $179.1 billion, reflecting solid capital position maintenance during the growth phase.

FINANCIAL STATEMENT CHANGES
Total Liabilities
Balance Sheet
+12.4%
$1.7T$2.0T

Liabilities increased 12.4% — monitor debt-to-equity ratio and interest coverage.

Total Assets
Balance Sheet
+11.3%
$1.9T$2.1T

Asset base grew 11.3% — expansion through organic growth, acquisitions, or capital deployment.

LANGUAGE CHANGES
NEW — 2026-02-24
PRIOR — 2025-02-25
ADDED
wfc-20251231_d2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.
At February 13, 2026, 3,085,635,641 shares of common stock were outstanding.
At December 31, 2025, we had assets of approximately $2.1 trillion, loans of $986.2 billion, deposits of $1.4 trillion and stockholders equity of $181.1 billion.
(the Bank) was the Company s principal subsidiary with assets of $1.8 trillion, or 85% of the Company s assets.
We provide consumer financial products and services including checking and savings accounts, credit and debit cards, and home, auto, personal, and small business lending.
In addition, we provide personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services.
We also provide financial solutions to private, family owned and public companies through products and services including banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management.
We also provide a suite of capital markets, banking and financial products and services to corporate, commercial real estate, government and institutional clients through corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, as well as sales, trading, and research capabilities.
At December 31, 2025, we had approximately 205,000 active employees, with approximately 76% based in the United States.
In the U.S., 50% of our workforce identified as white, 49% identified as other races/ethnicities, and 1% did not declare.
REMOVED
At February 14, 2025, 3,288,186,582 shares of common stock were outstanding.
At December 31, 2024, we had assets of approximately $1.9 trillion, loans of $912.7 billion, deposits of $1.4 trillion and stockholders equity of $179.1 billion.
was the Company s principal subsidiary with assets of $1.7 trillion, or 88% of the Company s assets.
We provide consumer financial products and services including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending.
In addition, we offer financial planning, private banking, investment management, and fiduciary services.
We also provide financial solutions to businesses through products and services including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services.
At December 31, 2024, we had approximately 217,000 active employees, with approximately 77% of employees based in the United States.
Our global workforce was 51% female and 49% male, and our U.S.
workforce was 51% white, 48% racially/ethnically diverse, and 1% undeclared.
In addition, we provided tuition reimbursement for approximately 2,600 employees in 2024.
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