Discounted Cash Flow

Wells Fargo & Company/Mn

WFC · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $1.3b $21.9b $169.0m 1730.1% $4.03
2017 $88.4b (6870.7%) $22.2b (1.1%) $18.7b (10978.1%) 25.1% (-98.5%) $4.14 (2.7%)
2018 $86.4b (-2.2%) $22.4b (0.9%) $36.1b (92.7%) 25.9% (3.3%) $4.31 (4.1%)
2019 $85.1b (-1.6%) $19.5b (-12.7%) $6.7b (-81.3%) 23.0% (-11.3%) $4.08 (-5.3%)
2020 $39.8b (-53.2%) $3.3b (-83.1%) $2.1b (-69.5%) 8.3% (-63.9%) $0.42 (-89.7%)
2021 $35.8b (-10.2%) $21.5b (552.8%) $-11.5b (-661.9%) 60.2% (626.8%) $4.99 (1088.1%)
2022 $45.0b (25.6%) $13.2b (-38.8%) $27.0b (334.7%) 29.3% (-51.3%) $3.17 (-36.5%)
2023 $52.4b (16.5%) $19.1b (45.2%) $40.4b (49.2%) 36.5% (24.6%) $4.88 (53.9%)
2024 $47.7b (-9.0%) $19.7b (3.0%) $3.0b (-92.5%) 41.4% (13.2%) $5.43 (11.3%)
2025 $47.5b (-0.4%) $21.3b (8.2%) $-19.0b (-726.1%) 44.9% (8.6%) $6.34 (16.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model