WFC · NYQ · Financial Services
Wells Fargo & Company
Also onShortfallConsensus DriftCrosscheck
Implied value per share
USD 72.54
Market price
USD 85.89
Implied upside
-15.5%
10-year forecast · Excess returns over book equity · Base case · Price 2026-11-02 · Accounts to 2025-12-31
NoteA financial, valued on excess returns over book equity.
Excess Returns
- Return on equity
- 11.2%
- Payout
- 33%
- Cost of equity
- 8.89%
| Line | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 | FY32 | FY33 | FY34 | FY35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Opening book equity | USD 164.5bn | USD 176.0bn | USD 187.5bn | USD 198.7bn | USD 209.6bn | USD 220.1bn | USD 230.0bn | USD 239.2bn | USD 247.6bn | USD 255.0bn |
| Return on equity | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% | 11.2% |
| Excess return | USD 3.8bn | USD 4.0bn | USD 4.3bn | USD 4.6bn | USD 4.8bn | USD 5.1bn | USD 5.3bn | USD 5.5bn | USD 5.7bn | USD 5.9bn |
| Present value | USD 3.5bn | USD 3.4bn | USD 3.3bn | USD 3.3bn | USD 3.2bn | USD 3.0bn | USD 2.9bn | USD 2.8bn | USD 2.6bn | USD 2.5bn |
| Book equity | USD 164.5bn |
| Present value of excess returns | USD 30.5bn |
| Terminal, growing at 2.50% | USD 40.2bn |
| Equity value | USD 235.2bn |
| Per share | USD 72.54 |
Discount Rate
| Risk-free rate | 4.89% | US 10-year Treasury (^TNX), 2026-11-02 |
| Equity risk premium | 4.23% | Damodaran, January 2026 |
| Beta | 0.944 | Reported 0.917, pulled toward 1.0 (Blume) |
| Cost of equity | 8.89% | Risk-free + beta x equity risk premium |
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Yahoo Finance and RBA data. General information, not advice. Methodology.