Bank of America Corporation (BAC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$1.12	$1.21	+8.0%	—	—	—
Q4 26	$1.02	$1.11	+8.8%	—	—	—
Q3 26	$0.95	$0.98	+3.2%	—	—	—
Q2 26	$0.95	$1.06	+11.6%	—	—	—
Q1 26	$0.86	$0.89	+3.5%	—	—	—
Q4 25	$0.81	$0.9	+11.1%	—	—	—
Q3 25	$0.77	$0.82	+6.5%	—	—	—
Q2 25	$0.76	$0.81	+6.6%	—	—	—
Q1 25	$0.8	$0.83	+3.7%	—	—	—
Q4 24	$0.77	$0.76	-1.3%	—	—	—
Q3 24	$0.64	$0.35	-45.3%	—	—	—
Q2 24	$0.82	$0.9	+9.8%	—	—	—
Q1 24	$0.84	$0.88	+4.8%	—	—	—
Q4 23	$0.82	$0.94	+14.6%	—	—	—
Q3 23	$0.77	$0.85	+10.4%	—	—	—
Q2 23	$0.77	$0.81	+5.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.86	—	—	$113.1B	—
FY24	—	$3.25	—	—	$101.9B	—
FY23	—	$3.1	—	—	$98.6B	—
FY22	—	$3.21	—	—	$95B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$83.7B	$87.1B	$91B	$91.2B	$85.5B	$89.1B	$95B	$98.6B	$101.9B	$113.1B
YoY change	+0.89%	+4.09%	+4.47%	+0.25%	-6.26%	+4.19%	+6.55%	+3.82%	+3.35%	+11%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	83.7B	87.1B	91B	91.2B	85.5B	89.1B	95B	98.6B	101.9B	113.1B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	47.3B	41.8B	40.5B	42.1B	41.2B	45B	45.9B	47.7B	49.6B	52.2B
Operating expenses	47.3B	41.8B	40.5B	42.1B	41.2B	45B	45.9B	47.7B	49.6B	52.2B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	25B	29.2B	34.6B	32.8B	19B	34B	31B	28.3B	29.3B	37.7B
Income tax	7.2B	11B	6.4B	5.3B	1.1B	2B	3.4B	1.8B	2.1B	7.2B
Net income	17.8B	18.2B	28.1B	27.4B	17.9B	32B	27.5B	26.5B	27.1B	30.5B
Net margin	21.3%	20.9%	30.9%	30.1%	20.9%	35.9%	29%	26.9%	26.6%	27%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	1.58	1.63	2.64	2.77	1.88	3.6	3.21	3.1	3.25	3.86
Diluted EPS	1.5	1.56	2.61	2.75	1.87	3.57	3.19	3.08	3.21	3.81

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	25.2B	22B	25.8B	25.4B	25.3B	25.3B	27.4B	26.5B	28.1B	31.2B	30.3B	—
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	11.8B	11.6B	13.8B	12.1B	12.1B	12.3B	13.4B	12.9B	13B	13B	14B	—
Operating expenses	11.8B	11.6B	13.8B	12.1B	12.1B	12.3B	13.4B	12.9B	13B	13B	14B	—
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	8.1B	3.1B	7.3B	7.6B	7.3B	7.1B	8.1B	7.7B	9.5B	12.4B	10.4B	—
Income tax	293M	-20M	588M	663M	428M	443M	720M	572M	987M	4.9B	1.8B	—
Net income	7.8B	3.1B	6.7B	6.9B	6.9B	6.7B	7.4B	7.1B	8.5B	7.5B	8.6B	—
Net margin	31%	14.3%	25.9%	27.2%	27.2%	26.3%	27%	26.9%	30.2%	24.1%	28.4%	—
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	0.91	0.36	0.77	0.83	0.82	0.83	0.91	0.9	1.08	0.99	1.12	1.22
Diluted EPS	0.9	0.35	0.76	0.83	0.81	0.82	0.9	0.89	1.06	0.98	1.11	1.21

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	227.3B	301B	248.8B	330.7B	265.3B	377.9B	268.7B	270.3B	345.2B	413.7B	440.5B
Enterprise value	16.5B	89.8B	84.1B	181.5B	-73.9B	27.2B	113.4B	-3.4B	29B	153.5B	385.7B
Shares outstanding	10.3B	10.2B	10.1B	9.4B	8.8B	8.5B	8.1B	8B	7.9B	7.5B	7.5B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	12.8	16.5	8.84	12.1	14.8	11.8	9.76	10.2	12.7	13.6	14.5
P/S	2.72	3.45	2.73	3.62	3.1	4.24	2.83	2.74	3.39	3.66	3.86
P/B	0.85	1.13	0.94	1.25	0.97	1.4	0.98	0.93	1.17	1.36	1.6
EV/Sales	0.2	1.03	0.92	1.99	-0.86	0.31	1.19	-0.03	0.28	1.36	3.38
Earnings yield	7.84%	6.06%	11.3%	8.29%	6.74%	8.46%	10.2%	9.81%	7.86%	7.37%	6.88%
FCF yield	7.6%	3.28%	15.9%	18.7%	14.3%	-1.9%	-2.35%	16.6%	-2.55%	3.05%	6.6%
PEG	—	—	—	—	—	—	—	—	—	—	0.41

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	38.3%
Net margin	21.3%	20.9%	30.9%	30.1%	20.9%	35.9%	29%	26.9%	26.6%	27%	29.5%
ROE	6.7%	6.82%	10.6%	10.4%	6.56%	11.8%	10.1%	9.09%	9.18%	10.1%	11.2%
ROA	—	—	—	—	—	—	—	—	0.83%	0.89%	0.97%
Return on tangible assets	—	—	—	—	—	—	—	—	0.87%	0.93%	0.94%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Debt / equity	0.9	0.97	0.94	1	1.03	1.13	1.11	1.15	1.11	1.21	0.03
Debt / assets	—	—	—	—	—	—	—	—	0.1	0.11	0.11
Effective tax rate	28.8%	37.6%	18.6%	16.3%	5.8%	5.88%	11.1%	6.45%	7.25%	19.1%	20.7%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	8.14	8.55	9.02	9.72	9.77	10.5	11.7	12.3	13	15	15.6
EPS (basic)	1.58	1.63	2.64	2.77	1.88	3.6	3.21	3.1	3.25	3.86	3.86
EPS (diluted)	1.5	1.56	2.61	2.75	1.87	3.57	3.19	3.08	3.21	3.81	4.33
Book value per share	25.9	26.2	26.3	28.2	31.2	31.8	33.7	36.3	37.6	40.3	39.3
FCF per share	1.68	0.97	3.91	6.58	4.34	-0.85	-0.78	5.6	-1.12	1.68	7.63
Cash per share	43.9	46.2	41	44.1	71	77.1	56.5	75.7	81.8	83.2	124.1

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Payout ratio	23.5%	31.3%	24.5%	21.6%	43.2%	25.2%	31.2%	34.3%	35%	31.3%	25.9%
Dividend yield	1.85%	1.89%	2.77%	1.79%	2.91%	2.13%	3.19%	3.36%	2.75%	2.31%	1.78%

Yield

1.78%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.32

ex-dividend Sep 4, 2026

Payout ratio

26%

of earnings

Dividend growth

12 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 4, 2026	$0.32
Jun 5, 2026	$0.28
Mar 6, 2026	$0.28

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$25.2B	$22B	$25.8B	$25.4B	$25.3B	$25.3B	$27.4B	$26.5B	$28.1B	$31.2B	$30.3B	—
YoY change	+2.71%	-10.5%	-1.68%	+0.71%	+0.71%	+15.4%	+6%	+4.28%	+10.8%	+23%	+10.6%	—

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	451.5B	471.2B	414.3B	414.3B	621.5B	654.5B	458.3B	608.1B	642.9B	626.1B
Receivables	58.8B	61.6B	65.8B	55.9B	64.2B	72.3B	67.5B	81.9B	82.2B	98.2B
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	143.4B	140.2B	137.9B	137.9B	137.9B	138B	138B	138B	138B	138B
Total assets	—	—	—	—	—	—	—	—	3.3T	3.4T
Accounts payable	—	—	—	—	—	—	—	—	—	—
Short-term debt	23.9B	32.7B	20.2B	24.2B	19.3B	23.8B	26.9B	32.1B	43.4B	48.1B
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	216.8B	227.4B	229.4B	240.9B	262.9B	280.1B	276B	302.2B	283.3B	317.8B
Total liabilities	—	—	—	—	—	—	—	—	3T	3.1T
Shareholders' equity	266.2B	267.1B	265.3B	264.8B	272.9B	270.1B	273.2B	291.6B	295.6B	303.2B
Total debt	240.8B	260.1B	249.6B	265.1B	282.3B	303.9B	302.9B	334.3B	326.7B	365.9B
Net debt	83.2B	91.5B	64.7B	96.4B	-104.8B	-51.5B	65.5B	-7.1B	30.2B	126.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	513.5B	525.3B	608.1B	634.3B	620.3B	619.5B	642.9B	657.1B	653.4B	645B	626.1B	618.8B
Receivables	74B	74.3B	81.9B	86.1B	81B	91.3B	82.2B	80.3B	94B	99.9B	98.2B	96.1B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	—	—	—	—	—	—	—	—	—	—	—	—
Goodwill & intangibles	138B	138B	138B	138B	138B	138B	138B	138B	138B	138B	138B	138B
Total assets	—	—	—	3.3T	3.3T	3.3T	3.3T	3.3T	3.4T	3.4T	3.4T	3.5T
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	41B	40.2B	32.1B	38.9B	40.4B	38.4B	43.4B	41.5B	47.9B	54.2B	48.1B	82.8B
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	286.1B	290.4B	302.2B	296.3B	290.5B	296.9B	283.3B	304.1B	313.4B	311.5B	317.8B	300.8B
Total liabilities	—	—	—	—	3T	3T	3T	3.1T	3.1T	3.1T	3.1T	3.2T
Shareholders' equity	283.3B	287.1B	291.6B	293.6B	293.9B	296.5B	295.6B	295.6B	299.6B	304.2B	303.2B	300.7B
Total debt	327.1B	330.6B	334.3B	335.2B	330.9B	335.4B	326.7B	345.6B	361.3B	365.7B	365.9B	383.6B
Net debt	-54.4B	-29.2B	-7.1B	14B	1.9B	31.6B	30.2B	64.8B	85.9B	111B	126.6B	133.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	17.8B	18.2B	28.1B	27.4B	17.9B	32B	27.5B	26.5B	27.1B	30.5B
Depreciation & amortization	2.2B	2.1B	2.1B	1.7B	1.8B	1.9B	2B	2.1B	2.2B	2.3B
Stock-based compensation	1.4B	1.6B	1.7B	2B	2B	2.8B	2.9B	2.9B	3.4B	4B
Change in working capital	-16.7B	-34.8B	-11.8B	-3.2B	4.1B	-56.6B	-75B	20.4B	-50B	-54.6B
Operating cash flow	11.1B	-201M	21.6B	37.9B	27.4B	-25.1B	-33.9B	58.3B	-15.8B	12.6B
Capital expenditure	—	—	—	—	—	—	—	—	—	—
Investing cash flow	-29.7B	228M	-12.2B	-27B	-193.5B	-313.2B	79.5B	-9.5B	-52.6B	-2.9B
Dividends paid	-4.2B	-5.7B	-6.9B	-5.9B	-7.7B	-8.1B	-8.6B	-9.1B	-9.5B	-9.6B
Share repurchases	-5.1B	-12.8B	-24.6B	-30.7B	-8.1B	-27.1B	-5.7B	-4.6B	-18.4B	-24.1B
Financing cash flow	-26.5B	-6.4B	-28.9B	-28.1B	-10.1B	678M	24.8B	11.6B	-29.1B	-259M
Net change in cash	-45.2B	-6.3B	-19.5B	-17.1B	-176.2B	-337.6B	70.4B	60.4B	-97.5B	9.4B
Free cash flow	17.3B	9.9B	39.5B	61.8B	38B	-7.2B	-6.3B	45B	-8.8B	12.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	7.4B	7.8B	3.1B	6.7B	6.9B	6.9B	6.7B	7.4B	7.2B	8.5B	7.5B	8.6B
Depreciation & amortization	510M	517M	527M	538M	543M	549M	559M	565M	571M	584M	594M	605M
Stock-based compensation	832M	588M	728M	865M	845M	832M	891M	999M	1B	1B	969M	1B
Change in working capital	11.5B	3.1B	22.7B	-29.8B	5.9B	-53B	26.9B	-6.8B	-38.3B	25.3B	-34.8B	21.3B
Operating cash flow	21.8B	10.1B	31.8B	-23.4B	17.4B	-48.6B	37.5B	2B	-30.1B	46.9B	-22.9B	41.8B
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	37.8B	-28B	-86.9B	-41.8B	29.8B	-6.8B	-33.8B	-18.1B	11B	-5.5B	9.7B	20.8B
Dividends paid	-2.1B	-2.4B	-2.2B	-2.5B	-2.2B	-2.5B	-2.3B	-2.6B	-2.2B	-2.5B	-2.4B	-2.6B
Share repurchases	-550M	-1B	-811M	-2.5B	-5.4B	-5.5B	-4.9B	-7.2B	-5.3B	-5.3B	-6.3B	-8.2B
Financing cash flow	-12.7B	8.2B	-11.1B	218M	-10.7B	-12.9B	-5.7B	4.4B	2.6B	-1.7B	-8.6B	8.7B
Net change in cash	46.9B	-9.7B	-66.2B	-65B	36.4B	-68.3B	-1.9B	-11.7B	-16.4B	39.6B	-21.8B	71.2B
Free cash flow	11.8B	11.8B	32.7B	-15.5B	18.1B	-37.3B	25.9B	-2.2B	-9.1B	46.9B	-22.9B	41.8B

Date	Ratio
Aug 30, 2004	2:1
Feb 28, 1997	2:1
Nov 21, 1986	2:1

Bank of America Corporation Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history