Bank of America Corporation (BAC) financials
NYSE · Financial Services · Banks - Diversified · 209,911 employees · CEO Brian T. Moynihan
- Price
- $50.01 -2.21%
- Market cap
- $346B
- Enterprise value
- $700B
- Last report
- Q3 '26 filed 2026-10-30
- Next report
- 2027-01-15
Revenue (TTM)$195B+3.1% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)22.4%+5.3 pp vs a year agoOperating income $43.6B
Net income (TTM)$32.1B+8.3% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$41.4B-32.7% vs a year agoCapex $0
Diluted EPS (TTM)$4.19+14.2% vs a year agoSum of the last 4 quarters
Net cash-$354B-241.6% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $346B EV $700B
- Revenue
- $195B Trailing 12 months
- Revenue growth
- – Next fiscal year
- Profit margin
- 16.5% Net income / revenue, TTM
- P/E
- 11.7×
- P/S
- 1.8× Price / sales, TTM
- EV / EBITDA
- 15.4× TTM
- Free cash flow
- $41.4B Trailing 12 months
- Net income
- $32.1B Trailing 12 months
- Revenue estimate
- – Next fiscal year
- Earnings
- 2027-01-15
- Dividend
- $1.16 Per share, last 12 months
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Revenue growth slowing: -0.9% year on yearQ3 '26 revenue $47.8B, against an average of 3.1% over the four quarters before.
- Operating margin 22.4% (TTM), +5.3 pp on a year agoOperating income grew 34.7% while revenue grew 3.1%.
- Capex 0.0% of revenue (a year ago 0.0%)$0 invested in the last 4 quarters (– on a year earlier). Free cash flow $41.4B = 128.8% of net income.
- Returned $32.9B to shareholders = 79.5% of free cash flowBuybacks $25.6B (a year earlier $18.7B), dividends $7.32B, stock-based pay $3.12B (TTM).
- Diluted share count down 4.1% in a year7.31B diluted shares in Q3 '26, 7.63B a year earlier.
- Net debt $354BCash + short-term investments $26.9B, debt incl. leases $381B; a year ago net cash $250B.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $47.8B | $48.2B | -0.9% |
| Gross margin | 60.1% | 55.6% | +4.5 pp |
| Operating income | $9.21B | $9.46B | -2.6% |
| Operating margin | 19.3% | 19.6% | -0.3 pp |
| Net income | $6.93B | $8.47B | -18.1% |
| Diluted EPS | $0.91 | $1.06 | -14.2% |
| Operating cash flow | -$6.5B | $46.9B | -113.9% |
| Capex | $0 | $0 | – |
| Free cash flow | -$6.5B | $46.9B | -113.9% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $0 | $1.02B | -100.0% |
Revenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Consumer Banking Segment | $11.6B | +3.6% | 37.6% | – | – | |
| Global Wealth and Investment Management Segment | $7.12B | +12.8% | 23.1% | – | – | |
| Global Banking Segment | $6.21B | -0.6% | 20.2% | – | – | |
| Global Markets Segment | $5.87B | -5.7% | 19.1% | – | – |
Revenue by region
share of total| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Segment, Geographical, Groups of Countries, Group Two | $2.62B | – | 64.9% | – | – | |
| Segment, Geographical, Groups of Countries, Group One | $957M | – | 23.7% | – | – | |
| Segment Geographical Groups Of Countries Group Three Member | $459M | – | 11.4% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $41.4B
- Capex
- $0
- Buybacks
- -$25.6B
- Dividends
- -$7.32B
- Acquisitions
- $0
- Net debt issued
- $46.3B
- Stock-based compensation
- $3.12B
- Free cash flow
- $41.4B
- Returned to shareholders / FCF
- 79.5%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | 11.7× | 12.2× | 10.3× – 14.2× |
| EV / EBITDA | 15.4× | 16.9× | 13.5× – 22.3× |
| EV / Sales | 3.6× | 4.0× | 2.8× – 5.5× |
| Price / FCF | 8.4× | 19.1× 2 of 5 years | 6.0× – 32.1× |
| Price / Book | 1.2× | 1.2× | 0.9× – 1.4× |
| FCF yield | 11.9% | 2.6% | -2.6% – 16.6% |
| Return on invested capital | 29.4% | 3.1% | 2.3% – 4.0% |
| Return on equity | 10.7% | 10.0% | 9.1% – 11.8% |
Analysts
Consensus target $66.00 (+32.0%)
range $60.00 – $75.00 · rating Buy
Strong buy0
Buy35
Hold18
Sell1
Strong sell0
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 352 figures Bank of America Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| $830B | – | – | – | – | – | |
| Accretion (Amortization) of Discounts and Premiums, Investments | $139M | $518M | -73.2% | $859M | $330M | +160.3% |
| Accrued Liabilities and Other Liabilities | $237B | $232B | +2.2% | $231B | $212B | +9.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$15.3B | -$11.7B | -30.0% | -$10.5B | -$15.3B | +31.1% |
| Amortization of Intangible Assets | $18M | $20M | -10.0% | $78M | $78M | 0.0% |
| Assets | $3.43T | $3.4T | +0.7% | $3.41T | $3.26T | +4.6% |
| Cash and Due from Banks | $26.9B | $25.4B | +6.1% | $28.6B | $26B | +10.0% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | -$500M | $500M | -200.0% | -$2.2B | -$3.4B | +35.3% |
| Cash Segregated under Other Regulations | $4.4B2025-12-31 | $4B | +10.0% | $4.4B | $4B | +10.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $250B | $247B | +1.3% | $232B | $290B | -20.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $19.9B | -$19.5B | +202.0% | -$58.3B | -$43B | -35.6% |
| Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | -$1.58B | -$731M | -116.6% | -$4.87B | -$511M | -852.3% |
| Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | $1.58B | $728M | +117.2% | $4.76B | $438M | +986.1% |
| Commercial Paper | $20.4B2025-12-31 | $24.2B | -15.7% | $20.4B | $24.2B | -15.7% |
| Common Stock, Capital Shares Reserved for Future Issuance | 529M | 586M | -9.7% | 586M | 552M | +6.2% |
| Common Stock, Dividends, Per Share, Cash Paid | – | – | – | $1.08 | $1.00 | +8.0% |
| Common Stock, Dividends, Per Share, Declared | $0.32 | $0.28 | +14.3% | $0.542018-12-31 | $0.39 | +38.5% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 12.8B | 12.8B | 0.0% | 12.8B | 12.8B | 0.0% |
| Common Stock, Shares, Issued | 6.92B | 7.33B | -5.5% | 7.21B | 7.61B | -5.2% |
| Common Stock, Shares, Outstanding | 6.92B | 7.33B | -5.5% | 7.21B | 7.61B | -5.2% |
| Common Stocks, Including Additional Paid in Capital | $8.21B | $31.8B | -74.2% | $26.1B | $45.3B | -42.5% |
| Communications and Information Technology | $2.01B | $1.83B | +9.9% | $7.45B | $7.23B | +3.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $3.7B | $9.09B | -59.3% | $35.3B | $29.5B | +19.6% |
| Credit Derivative, Maximum Exposure, Undiscounted | $2.06B | $1.88B | +9.7% | $2.14B | $1.89B | +13.2% |
| Current Federal Tax Expense (Benefit) | – | – | – | $4.2B | $4.71B | -10.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $2.25B | $2.07B | +8.8% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.89B | $7.38B | -6.6% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $442M | $603M | -26.7% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $250M | $467M | -46.5% | $790M | $364M | +117.0% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $5.06B | $3.2B | +58.3% | $2.6B | $3.86B | -32.6% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $65.2B | $136B | -52.0% | $101B | $103B | -2.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $2.86B | $3.08B | -7.2% | $2.55B | $3.57B | -28.7% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $157B | $74.4B | +111.1% | $30.6B | $107B | -71.5% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $2.2B | $115M | +1,813.9% | $55M | $286M | -80.8% |
| Debt Securities, Available-for-sale, Realized Gain | $68M | $34M | +100.0% | $66M | $20M | +230.0% |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | $21M | -$3M | +800.0% | -$20M | -$29M | +31.0% |
| Debt Securities, Available-for-sale, Realized Loss | $47M | $37M | +27.0% | $86M | $49M | +75.5% |
| Debt Securities, Available-for-sale, Unrealized Loss Position | $222B | $210B | +5.7% | $132B | $211B | -37.4% |
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $5.06B | $3.2B | +58.3% | $2.6B | $3.86B | -32.6% |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | $1M | $2M | -50.0% | $2M | $1M | +100.0% |
| Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | $104B | $84.9B | +22.4% | $80.3B | $108B | -25.8% |
| Debt Securities, Held-to-maturity, Fair Value | $393B | $447B | -12.1% | $442B | $451B | -1.8% |
| Debt Securities, Trading, and Equity Securities, FV-NI | $332B | $336B | -0.9% | $367B | $314B | +16.7% |
| Debt Securities, Trading, Restricted | $162B | $175B | -7.5% | $186B | $170B | +9.1% |
| DebtSecuritiesAvailableForSaleAmortizedCostExcludingAccruedInterestBeforeAllowanceForCreditLoss | $334B | $393B | -15.1% | $389B | $350B | +11.1% |
| DebtSecuritiesAvailableForSaleExcludingAccruedInterest | $329B | $390B | -15.8% | $387B | $346B | +11.7% |
| DebtSecuritiesHeldToMaturityAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLossMaturityAllocatedAndSingleMaturityDateAfterYear10 | $286B | $337B | -15.1% | $332B | $346B | -4.0% |
| DebtSecuritiesHeldToMaturityAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLossMaturityAllocatedAndSingleMaturityDateAfterYear5Through10 | $206M | $52.7B | -99.6% | $39.8B | $80.8B | -50.7% |
| DebtSecuritiesHeldToMaturityAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLossMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughFive | $102B | $56B | +81.7% | $69.8B | $22.8B | +206.5% |
| DebtSecuritiesHeldToMaturityAmortizedCostExcludingAccruedInterestAfterAllowanceForCreditLossMaturityAllocatedAndSingleMaturityDateYearOne | $4.14B | $681M | +508.2% | $502M | $660M | -23.9% |
| DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss | $496B | $531B | -6.6% | $523B | $559B | -6.4% |
| DebtSecuritiesHeldToMaturityExcludingAccruedInterestBeforeAllowanceForCreditLoss | $496B | $531B | -6.6% | $523B | $559B | -6.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | -$114M | -$1.68B | +93.2% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | $170M | $399M | -57.4% |
| Deferred Income Tax Expense (Benefit) | -$72M | $231M | -131.2% | $295M | -$1.13B | +126.2% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $239M | $153M | +56.2% |
| Deferred Tax Assets, Gross | $24.2B2025-12-31 | $25.7B | -5.9% | $24.2B | $25.7B | -5.9% |
| Deferred Tax Assets, Net | $15B2025-12-31 | $16.4B | -8.3% | $15B | $16.4B | -8.3% |
| Deferred Tax Assets, Net of Valuation Allowance | $21.9B2025-12-31 | $23.3B | -6.2% | $21.9B | $23.3B | -6.2% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30
Data as of 2026-11-01