Saturday 31 October 2026 Export BAC’s income statement to Excel — free account

Bank of America Corporation

Bank of America Corporation’s revenue for fiscal 2025 (year ended December 2025) was $191.6 billion, down 2.46% from fiscal 2024. In the quarter to September 2026, revenue was flat, EPS fell 8.97%, free cash flow grew 418.0% and total debt rose 2.31%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.

50.01 1.13 −2.21%

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Market cap: $354.0B
P/E: 11.6×
Fwd P/E: 11.4×
Dividend yield: 2.32%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Filings

Insider Decisions trades per month

Total sells 31.08

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	1	5	—	1	—	—	—	—	—

Insider Ownership 2.02%

Capital & Financial Ratios $m

Market Cap 354,030.00

Revenue 192,875.00

Net Income 33,637.00

Free Cash Flow 94,742.00

Net Debt (619,194.00)

Current Ratio 0.82

Debt/Equity 1.07

P/E ratio 11.60

Fwd P/E 11.40

P/S ratio 1.83

P/B ratio 1.30

Past 5Y EPS Growth 15.30%

This Y EPS Growth 14.89%

Next Y EPS Growth 17.09%

Next Y revenue growth (35.96%)

Next 5Y EPS Growth 15.00%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 36.03%

10-year low 10-year high

P/S against its own 10 years 27.87%

10-year low 10-year high

P/B against its own 10 years 71.17%

10-year low 10-year high

Dividends

Payout Ratio 0.27

Annual Dividend Rate 1.16

Annual Dividend Yield 2.32%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.20	0.28 0.28 0.32
2025	1.08	0.26 0.26 0.28 0.28
2024	1.00	0.24 0.24 0.26 0.26
2023	0.92	0.22 0.22 0.24 0.24
2022	0.86	0.21 0.21 0.22 0.22
2021	0.78	0.18 0.18 0.21 0.21
2020	0.72	0.18 0.18 0.18 0.18
2019	0.66	0.15 0.15 0.18 0.18
2018	0.54	0.12 0.12 0.15 0.15
2017	0.39	0.08 0.08 0.12 0.12
2016	0.25	0.05 0.05 0.08 0.08

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	899,397	885,655	922,851	937,881
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	2,027,670	2,060,042	2,198,699	2,275,923

	2023	2024	2025	Q'26
Payables	1,923,827	1,965,467	2,018,729	2,038,758
ST’ Debt	—	—	—	—
Other	95,530	92,543	105,996	109,805
	2,542,869	2,644,704	2,748,603	2,763,022

Compound Annual Growth %

	10y	5y	3y
Sales	7.43%	15.36%	18.52%
Cash Flow	(7.79%)	(19.79%)	0.00%
Earnings	7.25%	12.02%	3.75%
Book Value	1.70%	2.13%	3.54%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.11 Actual 1.08

0.92 1.00 1.09 1.17 1.25

Q4 FY25 Beat +0.02

Q1 FY26 Beat +0.11

Q2 FY26 Beat +0.08

Q3 FY26 Miss −0.03

Q4 FY26 — Jan 13

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	0.96	0.98	Beat by 0.02
Q1 FY26	1.00	1.11	Beat by 0.11
Q2 FY26	1.13	1.21	Beat by 0.08
Q3 FY26	1.11	1.08	Miss by 0.03
Q4 FY26	1.14	—	Reports 13 January 2027

EPS $

	Mar	Jun	Sep	Dec	Year
’26	1.11	1.21	0.96	—	—
’25	0.90	0.89	1.06	0.98	3.81
’24	0.76	0.83	0.81	0.82	3.21
’23	0.94	0.88	0.90	0.35	3.08
’22	0.80	0.73	0.81	0.85	3.19
’21	0.86	1.03	0.85	0.82	3.57
’20	0.40	0.37	0.51	0.59	1.87

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	47,886	49,393	47,766	—	—
’25	47,870	47,646	48,221	47,830	191,567
’24	48,071	48,529	48,869	50,934	196,403
’23	40,465	43,393	44,412	47,830	176,100
’22	24,550	25,219	30,358	34,926	115,053
’21	24,019	22,620	24,008	23,204	93,851
’20	26,735	24,018	21,693	21,307	93,753

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	41,770	29,043	—	—	—
’25	(2,184)	(9,132)	46,874	(22,945)	12,613
’24	(15,539)	18,096	(37,276)	25,914	(8,805)
’23	(11,300)	11,786	11,772	32,724	44,982
’22	(45,430)	(5,049)	13,154	30,998	(6,327)
’21	(52,328)	(9,311)	9,795	44,651	(7,193)
’20	19,043	(3,006)	(32,638)	54,594	37,993

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	41,770	29,043	—	—	—
’25	(2,184)	(9,132)	46,874	(22,945)	12,613
’24	(15,539)	18,096	(37,276)	25,914	(8,805)
’23	(11,300)	11,786	11,772	32,724	44,982
’22	(45,430)	(5,049)	13,154	30,998	(6,327)
’21	(52,328)	(9,311)	9,795	44,651	(7,193)
’20	19,043	(3,006)	(32,638)	54,594	37,993

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	10.99	22.01	22.66	24.01	17.95	29.57	29.31	24.96	31.27	33.07		+13.0%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	23.39	30.03	33.05	35.72	35.67	48.69	50.11	37.00	48.08	56.55		+10.3%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	208,000	209,000	204,000	208,000	213,000	208,000	217,000	213,000	213,000	213,000		+0.3%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	0.45	0.48	0.54	0.55	0.44	0.45	0.53	0.83	0.92	0.90		+8.0%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	93,662	99,466	109,627	113,589	93,753	93,851	115,053	176,100	196,403	191,567		+8.3%	122,683	130,115	135,187	(11.0%)
	Gross margin, %	89.36	87.59	83.03	80.33	91.23	94.95	82.53	58.36	53.90	59.04		(30.3) pt	Powerpack Bank of America Corporation’s next three years, line by line Analysts expect revenue to shrink 11.0% a year to 2028 — slower than the 8.3% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	25,021	29,213	34,584	32,754	18,995	33,976	30,969	32,530	33,223	37,695		+4.7%
	EBT margin, %	26.71	29.37	31.55	28.84	20.26	36.20	26.92	18.47	16.92	19.68		(7.0) pt
	Net income	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,305	26,973	30,509		+6.2%
	Depreciation	5,375	4,354	3,887	3,795	5,944	7,735	4,050	1,660	1,859	1,455		(13.5%)
Per share, $
Per share, $	Revenue	9.11	9.76	10.86	12.10	10.71	11.05	14.18	21.93	25.00	25.47		+12.1%
	Earnings	1.58	1.63	2.64	2.77	1.88	3.60	3.21	3.10	3.25	3.86		+10.4%
	Cash flow	1.68	0.97	3.91	6.58	4.34	(0.85)	(0.78)	5.60	(1.12)	1.68		0.0%
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00		n/m
	Free cash flow	1.68	0.97	3.91	6.58	4.34	(0.85)	(0.78)	5.60	(1.12)	1.68		0.0%
	Book value	25.88	26.20	26.28	28.20	31.18	31.80	33.67	36.33	37.42	40.31		+5.0%
	Shares, m	10,284	10,196	10,097	9,391	8,753	8,493	8,114	8,029	7,856	7,522		(3.4%)
Valuation, ×
Valuation, ×	P/E	15.54	18.46	9.30	12.67	16.04	12.39	10.47	10.94	13.52	14.18		13.3
	P/S	2.47	3.06	2.27	2.91	2.83	4.03	2.36	1.55	1.76	2.16		2.5
	P/B	0.96	1.25	1.02	1.37	1.07	1.54	1.11	1.03	1.27	1.49		1.2
	EV/Sales	(0.93)	(0.59)	(1.66)	(0.89)	(3.86)	(2.08)	(2.20)	(1.85)	(1.31)	(1.00)		(1.6)
	EV/FCF	(5.36)	(6.55)	(4.72)	(1.67)	(9.76)	24.00	34.86	(7.38)	26.39	(16.39)		3.3
Cash, $m
Cash, $m	Operating cash flow	17,277	9,864	39,520	61,777	37,993	(7,193)	(6,327)	44,982	(8,805)	12,613		(3.4%)
	Capex	—	—	—	—	—	—	—	—	—	—		—
	Free cash flow	17,277	9,864	39,520	61,777	37,993	(7,193)	(6,327)	44,982	(8,805)	12,613		(3.4%)
Balance, $m
Balance, $m	Working capital	(166,266)	(162,285)	(148,047)	(177,989)	(365,799)	(673,837)	(548,757)	(515,199)	(584,662)	(549,904)		+14.2%
	Total debt	216,823	227,402	229,392	240,856	262,934	280,117	275,982	302,204	283,279	317,816		+4.3%
	Net debt	(319,209)	(363,290)	(430,985)	(432,234)	(626,987)	(573,048)	(525,162)	(597,193)	(602,376)	(605,035)		+7.4%
	Shareholders’ equity	266,195	267,146	265,325	264,810	272,924	270,066	273,197	291,646	293,963	303,243		+1.5%
Returns, %
Returns, %	ROA	0.75	0.74	1.15	1.09	0.63	1.02	0.84	0.79	0.79	0.87		+0.1 pt
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00		0.0 pt
	ROE	6.80	6.84	10.94	10.73	6.73	12.38	10.61	9.71	9.49	10.60		+3.8 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 15 Oct 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
JPM JPMorgan Chase & Co.	$913.3B	14.0×	13.5×	+5.97% (above 0%: growing)	+12.48% (above 0%: growing)	−185.57% (below 0%: shrinking)	65.85%	0.00%	Compare
BAC Bank of America Corporation	$354.0B	11.6×	11.4×	−0.94% (below 0%: shrinking)	−8.97% (below 0%: shrinking)	+418.04% (above 0%: growing)	62.72%	0.00%
HSBC HSBC Holdings plc	$296.8B	12.0×	—	−18.77% (below 0%: shrinking)	−24.07% (below 0%: shrinking)	+75.40% (above 0%: growing)	100.00%	0.00%	Compare
WFC Wells Fargo & Company	$254.6B	11.5×	11.4×	+4.25% (above 0%: growing)	+17.18% (above 0%: growing)	+160.40% (above 0%: growing)	65.75%	0.00%	Compare
MUFG Mitsubishi UFJ Financial Group, Inc.	$247.0B	16.8×	—	+21.62% (above 0%: growing)	+32.35% (above 0%: growing)	−145.30% (below 0%: shrinking)	61.56%	0.00%	Compare
C Citigroup Inc.	$211.0B	11.9×	10.8×	+4.08% (above 0%: growing)	+52.35% (above 0%: growing)	+33.24% (above 0%: growing)	52.26%	0.00%	Compare
SAN Banco Santander, S.A.	$170.9B	9.0×	9.4×	+4.44% (above 0%: growing)	+8.00% (above 0%: growing)	−105.65% (below 0%: shrinking)	100.00%	0.00%	Compare
SMFG Sumitomo Mitsui Financial Group Inc	$155.8B	9.1×	—	+17.73% (above 0%: growing)	+85.19% (above 0%: growing)	−63.80% (below 0%: shrinking)	58.44%	0.00%	Compare
UBS UBS Group AG	$147.4B	15.5×	13.8×	−40.29% (below 0%: shrinking)	+21.33% (above 0%: growing)	−53.01% (below 0%: shrinking)	100.00%	0.00%	Compare
Median of peers	$229.0B	12.0×	11.4×	+4.35%	+19.26%	−58.40%	65.80%	0.00%

All 15 Banks Diversified stocks →

Business profile

Updated 23 October 2026

Bank of America Corporation is a Delaware bank holding company and financial holding company, founded in 1956 and headquartered in Charlotte. Brian T. Moynihan is Chair and Chief Executive Officer.

The company provides banking and nonbank financial services through bank and nonbank subsidiaries in the U.S. and international markets. It serves individual consumers, small and middle-market businesses, institutional investors, large corporations and governments. Its four operating segments are Consumer Banking, Global Wealth & Investment Management, Global Banking, and Global Markets; remaining activities are reported in All Other.

Read the full business profile →

From the latest earnings call

Updated 30 October 2026

On the Q2 call, CFO Alastair Borthwick said loan and deposit growth and fixed-rate asset repricing supported the bank’s net interest income outlook.
CEO Brian Moynihan said on the Q2 call that the bank was investing in technology and using AI tools to support employees and client service.

Read the Earnings & Analysis →

Analyst rating changes each firm’s latest, last six months

Firm	Date	Action	Rating	Target
Bank of America	Oct 25, 2026	Target raised	Buy	235.00 → 275.00
Baird	Oct 23, 2026	Upgrade	Outperform	—
Robert W. Baird	Oct 16, 2026	Upgrade	Hold → Outperform	62.00
Truist	Oct 8, 2026	Target cut	—	65.00 → 62.00
Evercore ISI	Oct 8, 2026	Target cut	—	67.00 → 62.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 76.05%

Held by the ten largest 40.56%

Holder	Shares	Stake	Change
Vanguard	664.58m	9.47%	+27.84m
BlackRock	545.68m	7.78%	+6.43m
Berkshire Hathaway	483.39m	6.89%	−30.23m
State Street	299.78m	4.27%	+4.87m
Fidelity (FMR)	189.18m	2.70%	−9.30m
Capital Group	172.52m	2.46%	−28.41m
Geode Capital Management	157.61m	2.25%	−317.94k
JPMorgan Chase	131.58m	1.87%	−688.63k
Morgan Stanley	114.60m	1.63%	+5.93m
T. Rowe Price	87.50m	1.25%	−12.12m

13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 23 March 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	33.71m	53.51m	205.00
2024	28.74m	47.78m	160.00
2023	28.57m	32.14m	119.00
2022	30.18m	11.01m	114.00
2021	23.73m	49.89m	150.00

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement