Base6Base 6GAAP revenue YoY +3.98% → base 6. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript+1Transcript +1Bank Tier 2: GAAP revenue +3.98% modestly understates execution breadth — fee-based revenue up 5%, IB fees up 11% for full year, markets revenue +7%, WIM revenue +10%. ROTCE reached 15% full-year target. +1 rather than +2 because GAAP revenue is growing and the structural distortion is less severe when positive; the understatement is modest, not dramatic.+EPS+1EPS +1GAAP EPS spread: 16.78 - 3.98 = +12.80pp (>>5pp). OI YoY +21.23%, OI spread = 21.23 - 3.98 = +17.25pp (>>5pp). Both confirm significant margin expansion. Q4 included $612M severance ($0.14/share) depressing GAAP EPS; ex-severance EPS $1.76 vs prior ~$1.39 = ~26.6% YoY, spread ~22.6pp — still well above 5pp. eps_adj = +1.+Guidance0Guidance 0Standard annual cycle: introduced FY2026 NII guidance of ~$50B (~+5.3% vs 2025's $47.5B) and expenses of ~$55.7B. This is routine Q4 annual guidance refresh. NII guide is solidly positive but reflects standard practice. Lower expected buybacks in 2026 is a modest offset but driven by organic growth deployment, not weakness → 0.=Final8