Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Bank of America

BAC stock analysis · Financials · Diversified Banks

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$56.98HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$399.9B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Reverse DCF

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Relative valuation

-5.3%

5 industry peers · median 13.0×

How this is calculated ↗
Valuation

Historical multiples

13.6×

7 annual observations · snapshot P/E 13.8× · 1.4% versus history

How this is calculated ↗
Valuation

Free cash flow yield

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Quality

ROIC / quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Valuation

Value composite

Requires three valuation yields and at least five covered sector peers.

Requires three valuation yields and at least five covered sector peers.

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

4.6%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

Generic cash-flow and operating-capital models are not suitable for this sector; specialist bank/insurance or REIT analysis is required.

How this is calculated ↗
Momentum

Fundamental momentum

Requires two adjacent years of revenue, operating income and cash flow.

Requires two adjacent years of revenue, operating income and cash flow.

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 45B2020-12-31: cfo $37,993,000,000.0020202021-12-31: cfo -$7,193,000,000.00 (negative; lower scale compressed)20212022-12-31: cfo -$6,327,000,000.00 (negative; lower scale compressed)20222023-12-31: cfo $44,982,000,000.0020232024-12-31: cfo -$8,805,000,000.00 (negative; lower scale compressed)20242025-12-31: cfo $12,613,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%
10.0%
12.0%

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-31113.1B30.5B12.6B3.4T
2024-12-31105.9B27B-8.8B3.3T
2023-12-31102.8B26.3B45B3.2T
2022-12-3195B27.5B-6.3B3.1T
2021-12-3189.1B32B-7.2B3.2T
2020-12-3185.5B17.9B38B2.8T
2019-12-3191.2B27.4B61.8B2.4T
2018-12-3191B28.1B39.5B2.4T

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue113.1BRevenues2026-02-25
netIncome30.5BNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-25
Parent/common earnings proxy29.1BNetIncomeLossAvailableToCommonStockholdersBasic2026-02-25
cfo12.6BNetCashProvidedByUsedInOperatingActivities2026-02-25
capexNot reported under a supported tag
operatingIncomeNot reported under a supported tag
assets3.4TAssets2026-02-25
equity303.2BStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-25
Parent book equity proxy303.2BStockholdersEquity2026-02-25
debt317.8BLongTermDebt2026-02-25
shortDebtNot reported under a supported tag
cash231.8BCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents2026-02-25
shares7.7BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-25
dividendsNot reported under a supported tag
buybacks21.4BPaymentsForRepurchaseOfCommonStock2026-02-25
issuanceNot reported under a supported tag