---
title: "Wells Fargo: Business Model"
description: "Wells Fargo revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/wells-fargo/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Wells Fargo: Business Model & Revenue Engine

## Direct Answer

Wells Fargo reports revenue across 4 business segments in its fiscal 2025 Form 10-K. Consumer Banking and Lending is the largest, with $37.4 billion of revenue (45% of the total), followed by Corporate and Investment Banking at $19.2 billion (23%).

## How Does Wells Fargo Make Money?

No single line supplies a majority of revenue: the largest, Consumer Banking and Lending, is 45%, which spreads Wells Fargo's exposure across several demand drivers. Between fiscal 2024 and 2025, Wealth and Investment Management grew fastest (+5.8%) and Commercial Banking slowest (-6.3%), so the revenue mix tilts toward Wealth and Investment Management while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Consumer Banking and Lending | $37.4 billion | $36.2 billion | 44.6% | 3.2% |
| Corporate and Investment Banking | $19.2 billion | $19.3 billion | 23.0% | -0.6% |
| Wealth and Investment Management | $16.3 billion | $15.4 billion | 19.5% | 5.8% |
| Commercial Banking | $12.0 billion | $12.8 billion | 14.3% | -6.3% |

![Bar chart of Wells Fargo revenue by segment for fiscal 2025: Consumer Banking and Lending 44.6%, Corporate and Investment Banking 23.0%, Wealth and Investment Management 19.5%, Commercial Banking 14.3%.](https://www.getswoopr.com/images/charts/wells-fargo-business-model-segment-mix.webp)
*Wells Fargo revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What the Segment Figures Do Not Show

The rows above add up to 101% of Wells Fargo's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Wells Fargo reported in the segment note and revenue disclosures of its Form 10-K filed February 24, 2026 (accession 0000072971-26-000133), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Wells Fargo's business segments?

In its fiscal 2025 Form 10-K, Wells Fargo reports revenue for Consumer Banking and Lending, Corporate and Investment Banking, Wealth and Investment Management and Commercial Banking.

### Which part of Wells Fargo brings in the most revenue?

Consumer Banking and Lending, with $37.4 billion of revenue in fiscal 2025, or 45% of the total.

### Where does Wells Fargo report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed February 24, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: WELLS FARGO & COMPANY/MN Form 10-K filed February 24, 2026](https://www.sec.gov/Archives/edgar/data/72971/000007297126000133/wfc-20251231_d2.htm)
- [SEC EDGAR: WELLS FARGO & COMPANY/MN annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=72971&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

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