On 12 Nov 2026 our base value for Wells Fargo is $69.08 a share, 19.4% below its $85.76 close; 0 of 2 valuation methods put it above the price.
| Method | Value | vs price | Basis |
|---|---|---|---|
| Discounted cash flow | — | — | not used for banks and lenders: deposits and loans are the business, so free cash flow does not describe it; see tangible book |
| Exit multiple (P/E) | $54.35 | -36.6% | earnings per share $7.34 valued at 10.83× (the stock's own median P/E) in 5 years, discounted back |
| Sum of the parts | — | — | no sum of the parts: this run holds no segment disclosure for the name |
| Price to sales | — | — | not reached: the cash-flow or earnings methods produced an anchor, so this fallback was not run |
| Tangible book | $83.82 | -2.3% | tangible book $49.10 a share at 1.707× |
| Price to FFO (REITs) | — | — | used only for REITs |
Each working is rebuilt by code from the valuation's own figures and checked against the published value.
Earnings per share grow on the same fading path as the DCF:
| Year | Growth | Earnings per share |
|---|---|---|
| Now | — | $7.34 |
| Year 1 | 0.40% | $7.37 |
| Year 2 | 1.18% | $7.46 |
| Year 3 | 1.73% | $7.59 |
| Year 4 | 2.11% | $7.75 |
| Year 5 | 2.38% | $7.93 |
| Earnings per share in year 5 | $7.93 |
| Exit P/E (the stock's own median P/E) | 10.83× |
| Value in 5 years = earnings × P/E | $85.89 |
| Discounted at 9.59% over 5 years: ÷ 1.5804 | $54.35 |
| Shareholders' equity | $181.12bn |
| Less goodwill | $24.97bn |
| Less other intangibles | $6.33bn |
| Tangible equity | $149.82bn |
| Shares | 3.05bn |
| Tangible book per share | $49.10 |
| Profit attributable to shareholders | $21.34bn |
| Return on tangible equity = profit ÷ tangible equity | 14.24% |
| Cost of equity (the discount rate) | 9.59% |
| Growth (the terminal rate) | 3% |
| Justified price to tangible book = (14.24% − 3%) ÷ (9.59% − 3%) | 1.71× |
| Value per share = multiple × tangible book per share | $83.82 |
The base value is the average of the methods kept in it:
| Method | Value |
|---|---|
| Exit multiple (P/E) | $54.35 |
| Tangible book | $83.82 |
($54.35 + $83.82) ÷ 2 = $69.08
Base value $69.08 a share
One-year price simulation: a 10% chance the price is below $67.04 and a 10% chance it is above $124.86 in a year; a 61% chance it is higher than today's $85.76, from 24.14% volatility. The simulation assumes the price drifts up at our discount rate of 9.59% a year.
| Week | Price | Base value |
|---|---|---|
| 2 Oct 2026 | $80.45 | $63.82 |
| 9 Oct 2026 | $83.55 | $63.45 |
| 16 Oct 2026 | $83.87 | $69.26 |
| 23 Oct 2026 | $82.39 | $69.90 |
| 30 Oct 2026 | $83.40 | $70.79 |
| 6 Nov 2026 | $83.94 | $71.16 |
| 12 Nov 2026 | $85.76 | $69.08 |
Data as of 12 Nov 2026; financials to 30 Sep 2026. Sources: company filings via EODHD, SEC EDGAR, US Treasury. How these values are computed. Not investment advice.
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