Wells Fargo & Company (WFC) Balance Sheet
WFC balance sheet, 2025
December 31, 2025 · U.S. dollars$2.15T assets = $1.97T liabilities + $183.04B equity
Both columns are drawn to the same scale: what WFC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WFC financial health
Debt / equity2.35
High leverage · $2.35 of debt for each $1 of equity
Cash / debt110.8%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles1.5%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
WFC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.93T2016 | $2.15T2025 | +1.2%/yr | |
| Total liabilities | $1.73T2016 | $1.97T2025 | +1.4%/yr | |
| Shareholders’ equity | $200.50B2016 | $181.12B2025 | −1.1%/yr | |
| Cash & short-term investments | $27.15B2016 | $471.55B2025 | +37.3%/yr | |
| Total debt | $366.35B2016 | $425.72B2025 | +1.7%/yr | |
| Net cash (debt) | −$339.20B2016 | $45.83B2025 | +$385.0B | |
| Working capital | −$50.34B2016 | −$1.23T2025 | −$1.2T | |
| Book value per share | $39.252016 | $56.292025 | +4.1%/yr | |
| Debt / equity | 1.832016 | 2.352025 | +0.52 | |
| Shares outstanding | 5.11B2016 | 3.22B2025 | −5.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WFC assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
WFC liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
WFC debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WFC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $471.55B | $363.46B | $362.61B | $272.75B | $411.47B | $485.00B | $404.71B | $178.35B | $26.36B | $27.15B |
| Cash & equivalents | $174.21B | $203.36B | $237.22B | $159.16B | $234.23B | $264.61B | $141.25B | $173.29B | $215.95B | $20.73B |
| Short-term investments | $297.34B | $160.10B | $125.39B | $113.59B | $177.24B | $220.39B | $263.46B | $269.91B | $277.08B | $308.36B |
| Receivables | $22.98B | $42.36B | $53.72B | $14.91B | $14.86B | $58.82B | $19.83B | $19.70B | $64.20B | $19.29B |
| Inventory | $0 | $0 | −$524.61B | −$369.99B | −$440.91B | −$471.57B | −$385.84B | −$343.64B | −$433.94B | −$398.73B |
| Other current assets | $0 | $0 | $524.61B | $369.99B | $440.91B | $471.57B | $385.84B | $384.01B | $433.94B | $398.73B |
| Total current assets | $494.53B | $405.82B | $416.34B | $287.66B | $426.33B | $543.83B | $424.54B | $238.41B | $90.56B | $46.44B |
| Property, plant & equipment (net) | $20.04B | $19.43B | $18.24B | $8.35B | $8.57B | $20.59B | $9.31B | $8.92B | $18.51B | $8.33B |
| Goodwill & intangible assets | $31.29B | $32.95B | $33.68B | $35.65B | $33.37B | $34.16B | $39.34B | $42.51B | $43.25B | $41.06B |
| Long-term investments | $539.84B | $480.78B | $480.20B | $116.03B | $1.19T | $563.47B | $952.71B | $1.45T | $1.12T | $1.10T |
| Other non-current assets | $1.06T | $990.87B | $984.01B | $1.43T | $286.29B | $790.87B | $501.65B | $152.12B | $682.04B | $737.71B |
| Total assets | $2.15T | $1.93T | $1.93T | $1.88T | $1.95T | $1.95T | $1.93T | $1.90T | $1.95T | $1.93T |
| Liabilities | ||||||||||
| Accounts payable | — | — | — | $69.06B | $70.96B | $1.40T | $75.16B | $69.32B | $70.61B | $57.19B |
| Short-term debt | $251.01B | $108.81B | $89.56B | $51.15B | $34.41B | $59.00B | $104.51B | $105.79B | $14.57B | $96.78B |
| Total current liabilities | $1.72T | $1.48T | $1.45T | $51.15B | $34.41B | $1.54T | $104.51B | $13.36B | $14.57B | $96.78B |
| Long-term debt | $174.71B | $170.08B | $169.59B | $194.96B | $170.11B | $212.95B | $237.27B | $237.54B | $233.82B | $269.57B |
| Lease obligations | — | $16.0M | $19.0M | $22.0M | $26.0M | $28.0M | $32.0M | $36.0M | $39.0M | $7.0M |
| Other long-term liabilities | $68.20B | $98.09B | $127.70B | $0 | $0 | $16.51B | $0 | $0 | $0 | $0 |
| Total liabilities | $1.97T | $1.75T | $1.75T | $1.70T | $1.76T | $1.77T | $1.74T | $1.70T | $1.74T | $1.73T |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $70.03B | $69.37B |
| Retained earnings (deficit) | $228.87B | $214.20B | $201.14B | $187.65B | $180.32B | $162.68B | $166.70B | $158.16B | $145.26B | $133.07B |
| Treasury stock | — | — | — | −$82.85B | −$79.76B | −$67.79B | −$68.83B | −$47.19B | −$29.89B | −$22.71B |
| Accumulated other comprehensive income | −$6.67B | −$12.18B | −$11.58B | −$13.38B | −$1.70B | $194.0M | −$1.31B | −$6.34B | −$2.14B | −$3.14B |
| Minority interest | $1.92B | $1.95B | $1.71B | $1.99B | $2.50B | — | $838.0M | $900.0M | $1.14B | $916.0M |
| Total shareholders' equity | $181.12B | $179.12B | $185.74B | $181.88B | $190.11B | $184.68B | $187.98B | $197.07B | $208.08B | $200.50B |
| Key figures | ||||||||||
| Total debt | $425.72B | $281.88B | $297.15B | $246.10B | $204.52B | $271.95B | $341.78B | $343.33B | $248.39B | $366.35B |
| Net cash (debt) | $45.83B | $81.58B | $65.47B | $26.65B | $206.95B | $213.06B | $62.93B | −$164.98B | −$222.03B | −$339.20B |
| Working capital | −$1.23T | −$1.07T | −$1.03T | $236.51B | $391.92B | −$993.91B | $320.03B | $225.05B | $75.98B | −$50.34B |
| Tangible book value | $149.82B | $146.17B | $152.05B | $146.22B | $156.74B | $150.52B | $148.65B | $154.56B | $164.83B | $159.44B |
| Book value per share | $56.29 | $51.66 | $49.92 | $47.40 | $46.41 | $44.67 | $42.48 | $40.73 | $41.47 | $39.25 |
| Shares outstanding | 3.22B | 3.47B | 3.72B | 3.84B | 4.10B | 4.13B | 4.43B | 4.84B | 5.02B | 5.11B |
| Current ratio | 0.29 | 0.27 | 0.29 | 5.62 | 12.39 | 0.35 | 4.06 | 17.85 | 6.21 | 0.48 |
| Quick ratio | 0.29 | 0.27 | 0.29 | 5.62 | 12.39 | 0.35 | 4.06 | 14.83 | 6.21 | 0.48 |
| Debt / equity | 2.35 | 1.57 | 1.60 | 1.35 | 1.08 | 1.47 | 1.82 | 1.74 | 1.19 | 1.83 |
| Equity / assets | 8.4% | 9.3% | 9.6% | 9.7% | 9.8% | 9.5% | 9.8% | 10.4% | 10.7% | 10.4% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $296.33B | $939.76B | $612.09B | $471.55B | $380.45B | $377.98B | $352.31B | $363.46B | $350.25B | $378.28B | $404.58B | $362.61B |
| Cash & equivalents | $40.56B | $203.38B | $174.78B | $174.21B | $174.32B | $194.56B | $177.56B | $203.36B | $185.55B | $232.02B | $269.65B | $237.22B |
| Short-term investments | $255.77B | $736.38B | $437.31B | $297.34B | $206.12B | $183.41B | $174.75B | $160.10B | $164.70B | $146.26B | $134.93B | $125.39B |
| Receivables | $0 | $30.77B | $29.75B | $22.98B | $43.03B | $56.14B | $51.07B | $42.36B | $52.09B | $44.45B | $55.85B | $53.72B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $253.52B | −$154.78B | −$524.61B |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $154.78B | $524.61B |
| Total current assets | $296.33B | $939.76B | $612.09B | $494.53B | $423.48B | $434.12B | $403.38B | $405.82B | $402.34B | $422.73B | $460.43B | $416.34B |
| Property, plant & equipment (net) | $11.69B | $11.63B | $11.50B | $20.04B | $19.80B | $19.62B | $19.31B | $19.43B | $18.98B | $18.87B | $18.39B | $18.24B |
| Goodwill & intangible assets | $24.96B | $30.90B | $31.18B | $31.29B | $31.85B | $32.12B | $32.25B | $32.95B | $32.67B | $33.20B | $33.42B | $33.68B |
| Long-term investments | $0 | $574.88B | $535.04B | $539.84B | $510.74B | $491.67B | $491.26B | $480.78B | $494.64B | $484.13B | $490.17B | $480.20B |
| Other non-current assets | $1.92T | $725.03B | $1.02T | $1.06T | $1.08T | $1.00T | $1.00T | $990.87B | $973.50B | $981.14B | $956.75B | $984.01B |
| Total assets | $2.25T | $2.28T | $2.21T | $2.15T | $2.06T | $1.98T | $1.95T | $1.93T | $1.92T | $1.94T | $1.96T | $1.93T |
| Liabilities | ||||||||||||
| Short-term debt | $38.19B | $277.00B | $266.65B | $251.01B | $230.65B | $188.00B | $139.78B | $108.81B | $111.89B | $118.83B | $109.01B | $89.56B |
| Total current liabilities | $38.19B | $1.84T | $1.78T | $1.72T | $1.60T | $1.53T | $1.50T | $1.48T | $1.46T | $1.48T | $1.49T | $1.45T |
| Long-term debt | $0 | $169.55B | $183.94B | $174.71B | $177.77B | $176.24B | $173.66B | $170.08B | $182.01B | $179.14B | $187.76B | $207.57B |
| Lease obligations | — | — | — | — | — | — | — | $16.0M | — | — | — | $19.0M |
| Other long-term liabilities | $2.04T | $95.32B | $66.26B | $68.20B | $104.13B | $93.38B | $92.24B | $98.09B | $93.56B | $98.06B | $96.55B | $89.72B |
| Total liabilities | $2.08T | $2.10T | $2.03T | $1.97T | $1.88T | $1.80T | $1.77T | $1.75T | $1.74T | $1.76T | $1.78T | $1.75T |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B | $9.14B |
| Retained earnings (deficit) | $241.40B | $237.23B | $232.46B | $228.87B | $225.19B | $221.31B | $217.41B | $214.20B | $210.75B | $207.28B | $203.87B | $201.14B |
| Accumulated other comprehensive income | −$16.51B | −$8.28B | −$7.92B | −$6.67B | −$7.65B | −$9.37B | −$10.00B | −$12.18B | −$8.37B | −$12.72B | −$12.55B | −$11.58B |
| Minority interest | — | $2.13B | $1.92B | $1.92B | $1.86B | $1.84B | — | — | — | — | — | — |
| Total shareholders' equity | $175.76B | $180.19B | $178.40B | $181.12B | $181.15B | $181.11B | $181.09B | $179.12B | $183.26B | $176.43B | $180.94B | $185.74B |
| Key figures | ||||||||||||
| Total debt | $221.04B | $459.14B | $450.59B | $425.72B | $408.42B | $364.23B | $313.44B | $281.88B | $293.91B | $297.97B | $296.78B | $297.15B |
| Net cash (debt) | $75.28B | $480.62B | $161.50B | $45.83B | −$27.97B | $13.74B | $38.88B | $81.58B | $56.34B | $80.31B | $107.80B | $65.47B |
| Working capital | $258.14B | −$895.28B | −$1.16T | −$1.23T | −$1.17T | −$1.09T | −$1.10T | −$1.07T | −$1.06T | −$1.06T | −$1.03T | −$1.03T |
| Tangible book value | $150.80B | $149.29B | $147.21B | $149.82B | $149.30B | $148.99B | $148.84B | $146.17B | $150.60B | $143.23B | $147.52B | $152.05B |
| Book value per share | $57.60 | $58.50 | $55.45 | $56.29 | $56.30 | $55.44 | $54.52 | $53.30 | $53.51 | $50.61 | $50.26 | $50.79 |
| Shares outstanding | 3.05B | 3.08B | 3.22B | 3.22B | 3.22B | 3.27B | 3.32B | 3.36B | 3.43B | 3.49B | 3.60B | 3.66B |
| Current ratio | 7.76 | 0.51 | 0.34 | 0.29 | 0.27 | 0.28 | 0.27 | 0.27 | 0.28 | 0.28 | 0.31 | 0.29 |
| Quick ratio | 7.76 | 0.53 | 0.36 | 0.29 | 0.27 | 0.28 | 0.27 | 0.27 | 0.28 | 0.28 | 0.31 | 0.29 |
| Debt / equity | 1.26 | 2.55 | 2.53 | 2.35 | 2.25 | 2.01 | 1.73 | 1.57 | 1.60 | 1.69 | 1.64 | 1.60 |
| Equity / assets | 7.8% | 7.9% | 8.1% | 8.4% | 8.8% | 9.1% | 9.3% | 9.3% | 9.5% | 9.1% | 9.2% | 9.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
WFC financial position
At the end of fiscal 2025 (December 31, 2025), Wells Fargo had total assets of $2.15 trillion (up 11.3% from a year earlier), total liabilities of $1.97 trillion and shareholders' equity of $181.1 billion. It held $471.6 billion in cash and short-term investments against $425.7 billion of debt, a net cash position of $45.8 billion. Its current ratio was 0.29. In the latest quarter (ended September 30, 2026) total assets were $2.25 trillion and equity $175.8 billion.
Related: WFC income statement, WFC cash flow statement, WFC key metrics. See the WFC stock overview for the latest quote and news.
WFC balance sheet FAQ
What are Wells Fargo's total assets?
Wells Fargo reported total assets of $2.15 trillion at the end of fiscal 2025 (December 31, 2025), compared with $1.93 trillion a year earlier.
How much debt does Wells Fargo have?
Wells Fargo had $425.7 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 2.35.
How much cash does Wells Fargo have?
Wells Fargo held $471.6 billion in cash and short-term investments at the end of fiscal 2025; with $425.7 billion of debt that is net cash of $45.8 billion.
What is Wells Fargo's book value?
Wells Fargo's shareholders' equity (book value) was $181.1 billion at the end of fiscal 2025, or $56.29 per share.
What is Wells Fargo's current ratio?
Wells Fargo had current assets of $494.5 billion and current liabilities of $1.72 trillion, a current ratio of 0.29 (current liabilities exceed current assets).
How much goodwill does Wells Fargo have?
Wells Fargo carried $31.3 billion of goodwill and intangible assets, 1.5% of total assets, at the end of fiscal 2025.