Wells Fargo annual debt-to-equity ratio
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Wells Fargo Debt-to-Equity Ratio Growth & History (WFC)
Wells Fargo's debt-to-equity ratio was 1.09 for fiscal 2025.
View full Wells Fargo company overviewWells Fargo annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.09 | 0.08 | +8.22% |
| 2024 | 2024-12-31 | 1.01 | −0.62 | −37.96% |
| 2023 | 2023-12-31 | 1.62 | 0.34 | +26.81% |
| 2022 | 2022-12-31 | 1.28 | 0.22 | +20.21% |
| 2021 | 2021-12-31 | 1.06 | −0.44 | −29.05% |
| 2020 | 2020-12-31 | 1.50 | −0.31 | −16.98% |
| 2019 | 2019-12-31 | 1.81 | 0.10 | +5.81% |
| 2018 | 2018-12-31 | 1.71 | 0.12 | +7.58% |
| 2017 | 2017-12-31 | 1.59 | −0.18 | −10.01% |
| 2016 | 2016-12-31 | 1.76 | 0.22 | +14.54% |
| 2015 | 2015-12-31 | 1.54 | 0.20 | +14.69% |
| 2014 | 2014-12-31 | 1.34 | 0.13 | +10.37% |
| 2013 | 2013-12-31 | 1.22 | 0.04 | +3.80% |
| 2012 | 2012-12-31 | 1.17 | −0.07 | −5.89% |
| 2011 | 2011-12-31 | 1.24 | −0.44 | −25.92% |
| 2010 | 2010-12-31 | 1.68 | −0.49 | −22.67% |
| 2009 | 2009-12-31 | 2.17 | −1.61 | −42.62% |
| 2008 | 2008-12-31 | 3.79 | — | — |
Wells Fargo quarterly debt-to-equity ratio
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 1.17 | −0.86 | −42.32% |
| Q1 2026 | 2026-03-31 | 1.24 | −0.52 | −29.60% |
| Q4 2025 | 2025-12-31 | 1.09 | 0.08 | +8.22% |
| Q3 2025 | 2025-09-30 | 2.28 | 0.65 | +40.00% |
| Q2 2025 | 2025-06-30 | 2.03 | 0.32 | +18.70% |
| Q1 2025 | 2025-03-31 | 1.75 | 0.09 | +5.53% |
| Q4 2024 | 2024-12-31 | 1.01 | −0.62 | −37.96% |
| Q3 2024 | 2024-09-30 | 1.63 | 0.04 | +2.25% |
| Q2 2024 | 2024-06-30 | 1.71 | 0.28 | +19.17% |
| Q1 2024 | 2024-03-31 | 1.66 | 0.23 | +16.37% |
| Q4 2023 | 2023-12-31 | 1.62 | 0.34 | +26.81% |
| Q3 2023 | 2023-09-30 | 1.59 | 0.40 | +33.99% |
| Q2 2023 | 2023-06-30 | 1.44 | 0.36 | +33.10% |
| Q1 2023 | 2023-03-31 | 1.43 | 0.36 | +33.84% |
| Q4 2022 | 2022-12-31 | 1.28 | 0.22 | +20.21% |
| Q3 2022 | 2022-09-30 | 1.19 | 0.08 | +7.09% |
| Q2 2022 | 2022-06-30 | 1.08 | −0.10 | −8.27% |
| Q1 2022 | 2022-03-31 | 1.07 | −0.23 | −17.49% |
| Q4 2021 | 2021-12-31 | 1.06 | −0.44 | −29.05% |
| Q3 2021 | 2021-09-30 | 1.11 | −0.41 | −27.20% |
| Q2 2021 | 2021-06-30 | 1.18 | −0.48 | −28.74% |
| Q1 2021 | 2021-03-31 | 1.29 | −0.54 | −29.40% |
| Q4 2020 | 2020-12-31 | 1.50 | −0.31 | −16.98% |
| Q3 2020 | 2020-09-30 | 1.52 | −0.34 | −18.20% |
| Q2 2020 | 2020-06-30 | 1.65 | −0.17 | −9.14% |
| Q1 2020 | 2020-03-31 | 1.83 | 0.07 | +4.08% |
| Q4 2019 | 2019-12-31 | 1.81 | 0.10 | +5.81% |
| Q3 2019 | 2019-09-30 | 1.86 | 0.22 | +13.24% |
| Q2 2019 | 2019-06-30 | 1.82 | 0.24 | +15.28% |
| Q1 2019 | 2019-03-31 | 1.76 | 0.18 | +11.19% |
| Q4 2018 | 2018-12-31 | 1.71 | 0.12 | +7.58% |
| Q3 2018 | 2018-09-30 | 1.64 | 0.03 | +1.77% |
| Q2 2018 | 2018-06-30 | 1.58 | −0.05 | −3.10% |
| Q1 2018 | 2018-03-31 | 1.58 | −0.16 | −9.18% |
| Q4 2017 | 2017-12-31 | 1.59 | −0.18 | −10.01% |
| Q3 2017 | 2017-09-30 | 1.62 | −0.25 | −13.56% |
| Q2 2017 | 2017-06-30 | 1.63 | −0.18 | −9.79% |
| Q1 2017 | 2017-03-31 | 1.74 | 0.04 | +2.61% |
| Q4 2016 | 2016-12-31 | 1.76 | 0.22 | +14.54% |
| Q3 2016 | 2016-09-30 | 1.87 | 0.45 | +32.01% |
| Q2 2016 | 2016-06-30 | 1.81 | 0.42 | +30.25% |
| Q1 2016 | 2016-03-31 | 1.70 | 0.32 | +22.92% |
| Q4 2015 | 2015-12-31 | 1.54 | 0.20 | +14.69% |
| Q3 2015 | 2015-09-30 | 1.42 | 0.06 | +4.39% |
| Q2 2015 | 2015-06-30 | 1.39 | 0.12 | +9.11% |
| Q1 2015 | 2015-03-31 | 1.38 | 0.18 | +15.36% |
| Q4 2014 | 2014-12-31 | 1.34 | 0.13 | +10.37% |
| Q3 2014 | 2014-09-30 | 1.36 | 0.13 | +10.57% |
| Q2 2014 | 2014-06-30 | 1.27 | 0.16 | +14.39% |
| Q1 2014 | 2014-03-31 | 1.20 | 0.05 | +3.93% |
| Q4 2013 | 2013-12-31 | 1.22 | 0.04 | +3.80% |
| Q3 2013 | 2013-09-30 | 1.23 | 0.04 | +3.79% |
| Q2 2013 | 2013-06-30 | 1.11 | −0.11 | −9.20% |
| Q1 2013 | 2013-03-31 | 1.15 | −0.09 | −7.21% |
| Q4 2012 | 2012-12-31 | 1.17 | −0.07 | −5.89% |
| Q3 2012 | 2012-09-30 | 1.18 | −0.15 | −11.55% |
| Q2 2012 | 2012-06-30 | 1.22 | −0.22 | −15.27% |
| Q1 2012 | 2012-03-31 | 1.24 | −0.28 | −18.50% |
| Q4 2011 | 2011-12-31 | 1.24 | −0.44 | −25.92% |
| Q3 2011 | 2011-09-30 | 1.34 | −0.39 | −22.74% |
| Q2 2011 | 2011-06-30 | 1.44 | −0.48 | −24.93% |
| Q1 2011 | 2011-03-31 | 1.52 | −0.60 | −28.08% |
| Q4 2010 | 2010-12-31 | 1.68 | −0.49 | −22.67% |
| Q3 2010 | 2010-09-30 | 1.73 | −0.28 | −13.79% |
| Q2 2010 | 2010-06-30 | 1.92 | −0.56 | −22.64% |
| Q1 2010 | 2010-03-31 | 2.12 | — | — |
| Q4 2009 | 2009-12-31 | 2.17 | −1.61 | −42.62% |
| Q3 2009 | 2009-09-30 | 2.01 | — | — |
| Q2 2009 | 2009-06-30 | 2.49 | — | — |
| Q4 2008 | 2008-12-31 | 3.79 | — | — |
Wells Fargo debt-to-equity ratio trends
Over the last five fiscal years, Wells Fargo's debt-to-equity ratio decreased from 1.50 to 1.09, a change of −0.41. The latest reported quarter, Q2 2026, shows 1.17.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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