Wells Fargo & Company/Mn
Wells Fargo & Company/Mn returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
ROCE
% · Annual / TTM
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
ROIIC
% · Annual / TTM
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Not applicable to banks and insurers: these ratios use an industrial-company capital model.
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q3 | Sep 30, 2026 | — | — | — | 12.87% | 1.06% | — |
| FY 2026 Q2 | Jun 30, 2026 | — | — | — | 12.52% | 1.06% | — |
| FY 2026 Q1 | Mar 31, 2026 | — | — | — | 12.07% | 1.04% | — |
| FY 2025 Q4 | Dec 31, 2025 | — | — | — | 11.85% | 1.05% | — |
| FY 2025 Q3 | Sep 30, 2025 | — | — | — | 11.56% | 1.06% | — |
| FY 2025 Q2 | Jun 30, 2025 | — | — | — | 11.51% | 1.05% | — |
| FY 2025 Q1 | Mar 31, 2025 | — | — | — | 11.05% | 1.02% | — |
| FY 2024 Q4 | Dec 31, 2024 | — | — | — | 10.81% | 1.02% | — |
| FY 2024 Q3 | Sep 30, 2024 | — | — | — | 9.94% | 0.94% | — |
| FY 2024 Q2 | Jun 30, 2024 | — | — | — | 10.51% | 0.98% | — |
| FY 2024 Q1 | Mar 31, 2024 | — | — | — | 10.37% | 0.98% | — |
| FY 2023 Q4 | Dec 31, 2023 | — | — | — | 10.47% | 1% | — |
| FY 2023 Q3 | Sep 30, 2023 | — | — | — | 10.4% | 0.98% | — |
| FY 2023 Q2 | Jun 30, 2023 | — | — | — | 9.12% | 0.87% | — |
| FY 2023 Q1 | Mar 31, 2023 | — | — | — | 8.05% | 0.76% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | — | — | 7.17% | 0.69% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | — | — | 8.8% | 0.84% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | — | — | 9.58% | 0.92% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | — | — | 11.23% | 1.06% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | — | — | 11.57% | 1.1% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | — | — | 10.21% | 0.97% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | — | — | 8.53% | 0.81% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | — | — | 4% | 0.38% | — |
| FY 2020 Q4 | Dec 31, 2020 | — | — | — | 1.77% | 0.17% | — |
| FY 2020 Q3 | Sep 30, 2020 | — | — | — | 1.7% | 0.16% | — |
| FY 2020 Q2 | Jun 30, 2020 | — | — | — | 3.04% | 0.3% | — |
| FY 2020 Q1 | Mar 31, 2020 | — | — | — | 7.54% | 0.74% | — |
| FY 2019 Q4 | Dec 31, 2019 | — | — | — | 10.2% | 1.02% | — |
| FY 2019 Q3 | Sep 30, 2019 | — | — | — | 11.6% | 1.19% | — |
| FY 2019 Q2 | Jun 30, 2019 | — | — | — | 11.94% | 1.27% | — |
| FY 2019 Q1 | Mar 31, 2019 | — | — | — | 11.48% | 1.22% | — |
| FY 2018 Q4 | Dec 31, 2018 | — | — | — | 11.11% | 1.16% | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | 11.19% | 1.19% | — |
| FY 2018 Q2 | Jun 30, 2018 | — | — | — | 10.35% | 1.11% | — |
| FY 2018 Q1 | Mar 31, 2018 | — | — | — | 10.76% | 1.13% | — |
| FY 2017 Q4 | Dec 31, 2017 | — | — | — | 10.91% | 1.14% | — |
| FY 2017 Q3 | Sep 30, 2017 | — | — | — | 10.34% | 1.09% | — |
| FY 2017 Q2 | Jun 30, 2017 | — | — | — | 10.9% | 1.16% | — |
| FY 2017 Q1 | Mar 31, 2017 | — | — | — | 10.99% | 1.15% | — |
| FY 2016 Q4 | Dec 31, 2016 | — | — | — | 11.18% | 1.18% | — |
| FY 2016 Q3 | Sep 30, 2016 | — | — | — | 11.23% | 1.2% | — |
| FY 2016 Q2 | Jun 30, 2016 | — | — | — | 11.44% | 1.24% | — |
| FY 2016 Q1 | Mar 31, 2016 | — | — | — | 11.68% | 1.26% | — |
| FY 2015 Q4 | Dec 31, 2015 | — | — | — | 12.13% | 1.32% | — |
| FY 2015 Q3 | Sep 30, 2015 | — | — | — | 12.26% | 1.36% | — |
| FY 2015 Q2 | Jun 30, 2015 | — | — | — | 12.4% | 1.38% | — |
| FY 2015 Q1 | Mar 31, 2015 | — | — | — | 12.6% | 1.4% | — |
| FY 2014 Q4 | Dec 31, 2014 | — | — | — | 13.01% | 1.43% | — |
| FY 2014 Q3 | Sep 30, 2014 | — | — | — | 13.13% | 1.47% | — |
| FY 2014 Q2 | Jun 30, 2014 | — | — | — | 13.29% | 1.5% | — |
| FY 2014 Q1 | Mar 31, 2014 | — | — | — | 13.38% | 1.52% | — |
| FY 2013 Q4 | Dec 31, 2013 | — | — | — | 13.35% | 1.48% | — |
| FY 2013 Q3 | Sep 30, 2013 | — | — | — | 13.27% | 1.49% | — |
| FY 2013 Q2 | Jun 30, 2013 | — | — | — | 13.34% | 1.49% | — |
| FY 2013 Q1 | Mar 31, 2013 | — | — | — | 12.89% | 1.43% | — |
| FY 2012 Q4 | Dec 31, 2012 | — | — | — | 12.69% | 1.38% | — |
| FY 2012 Q3 | Sep 30, 2012 | — | — | — | 12.25% | 1.34% | — |
| FY 2012 Q2 | Jun 30, 2012 | — | — | — | 11.97% | 1.31% | — |
| FY 2012 Q1 | Mar 31, 2012 | — | — | — | 11.73% | 1.27% | — |
| FY 2011 Q4 | Dec 31, 2011 | — | — | — | 11.9% | 1.23% | — |
| FY 2011 Q3 | Sep 30, 2011 | — | — | — | 11.61% | 1.2% | — |
| FY 2011 Q2 | Jun 30, 2011 | — | — | — | 11.29% | 1.16% | — |
| FY 2011 Q1 | Mar 31, 2011 | — | — | — | 10.88% | 1.1% | — |
| FY 2010 Q4 | Dec 31, 2010 | — | — | — | 10.38% | 0.99% | — |
| FY 2010 Q3 | Sep 30, 2010 | — | — | — | 9.58% | 0.96% | — |
| FY 2010 Q2 | Jun 30, 2010 | — | — | — | 9.95% | 0.93% | — |
| FY 2010 Q1 | Mar 31, 2010 | — | — | — | — | — | — |
| FY 2009 Q4 | Dec 31, 2009 | — | — | — | — | — | — |
| FY 2009 Q3 | Sep 30, 2009 | — | — | — | — | — | — |
| FY 2009 Q2 | Jun 30, 2009 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 19, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · WFC, USD. Latest completed close Oct 27, 2026. Price data retrieved Oct 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.