Forecast

Financial forecast

Project revenue, EBITDA, net income and free cash flow for the next 5 or 10 years. Growth starts at the same rate the valuation uses and fades to the long-run rate, with margins held at today's level. Bear and bull cases move growth by the company's own revenue volatility. It is a model of what the assumptions imply, not a prediction.

Wells Fargo (WFC)

Price updated 06 Nov 2026 09:57; TTM through 30 Sep 2026; TTM financials updated 06 Nov 2026 12:56.

Starts from TTM through 30 Sep 2026 financials in USD and a share price of USD 84.80. Growth begins at 5.0% a year (the valuation's blended assumption) and fades to 2.4% by year 10. Margins held at EBITDA 25.6%, net 17.6%, free cash flow 22.2% of revenue. Bear and bull move starting growth by 6.0 points and long-run growth by 1 point.

For banks, insurers and holding companies, revenue and cash flow mix in interest and investment flows. Read net income rather than free cash flow.
Year 1 uses analyst consensus revenue growth (5.4%); year 2 is halfway back to the model's own path.
USD 85.53Model fair value (Justified P/B (ROE)); range USD 73.19 to USD 107.34
1%Fair value vs today's price
HighModel confidence
75%Share of the gap to fair value the price closes by year 5

Confidence: Earnings-based DCF agrees; trailing-twelve-month data.

9.7%/yrModel-implied annual total return over 10 years, base case (price plus dividends). Raw model level; the screener shows a calibrated ranking instead
USD 189.07BRevenue in year 10 (base)
USD 33.35BNet income in year 10 (base)
USD 41.89BFree cash flow in year 10 (base)
USD 3.16Dividend per share in year 10 (base)
USD 185.82Implied share price in year 10 (base), today USD 84.80
16.2%Year-10 free cash flow per share vs today's price

Book value per share over time

USD 0.00 USD 35.91 USD 71.81 USD 107.72 USD 143.62 TTM through 30 Sep 2026 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10
Solid: reported Dashed: base projection Shaded: bear to bull range
Book value per share in year 10 by scenario
CaseStarting growthYear 10Annual growth
Bear -0.6% USD 110.89 6.8%
Base 5.4% USD 125.41 8.1%
Bull 11.4% USD 143.62 9.6%

Base case by year

YearGrowthRevenueEBITDANet incomeFree cash flowEPSFCF / shareDividend / shareBook / shareImplied price
TTM through 30 Sep 2026– USD 130.46BUSD 33.36BUSD 23.01BUSD 28.91B 7.549.472.1857.6084.80
Year 15.4% USD 137.47BUSD 35.15BUSD 24.24BUSD 30.46B 7.959.982.3063.2593.24
Year 25.1% USD 144.42BUSD 36.93BUSD 25.47BUSD 32.00B 8.3510.492.4169.18102.12
Year 34.5% USD 150.85BUSD 38.57BUSD 26.61BUSD 33.42B 8.7210.952.5275.38111.41
Year 44.2% USD 157.13BUSD 40.18BUSD 27.71BUSD 34.81B 9.0811.412.6281.84121.11
Year 53.9% USD 163.20BUSD 41.73BUSD 28.78BUSD 36.16B 9.4311.852.7388.54131.20
Year 63.6% USD 169.03BUSD 43.22BUSD 29.81BUSD 37.45B 9.7712.272.8295.49141.49
Year 73.3% USD 174.58BUSD 44.64BUSD 30.79BUSD 38.68B 10.0912.682.92102.66152.12
Year 83.0% USD 179.79BUSD 45.97BUSD 31.71BUSD 39.84B 10.3913.053.00110.05163.07
Year 92.7% USD 184.64BUSD 47.21BUSD 32.56BUSD 40.91B 10.6713.413.08117.64174.31
Year 102.4% USD 189.07BUSD 48.34BUSD 33.35BUSD 41.89B 10.9313.733.16125.41185.82

EPS and free cash flow per share assume today's share count. Dividends assume today's payout ratio and book value grows with retained earnings. The implied share price follows the valuation models and is not a price target; override growth settings do not change the model fair value. Margins stay at today's level except where the notes say they drift toward their average, so it does not model margin expansion, buybacks, acquisitions or recessions. It is for information and education only and is not investment advice. See the methodology for how the growth rate is blended.