Bank of America Corporation (BAC) 10-Year Financial Performance & Capital Metrics

BAC • • Banking & Credit

Financial ServicesDiversified BanksGlobal Universal BanksUS Global Banking Giants

AboutBank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans. The company's Global Wealth & Investment Management segment offers investment management, brokerage, banking, and trust and retirement products and services; and wealth management solutions, as well as customized solutions, including specialty asset management services. Its Global Banking segment provides lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, such as treasury management, foreign exchange, and short-term investing options and merchant services; working capital management solutions; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company's Global Markets segment offers market-making, financing, securities clearing, settlement, and custody services, as well as risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. As of December 31, 2021, it served approximately 67 million consumer and small business clients with approximately 4,200 retail financial centers; approximately 16,000 ATMs; and digital banking platforms with approximately 41 million active users. The company was founded in 1784 and is based in Charlotte, North Carolina.Show more

Net Interest Income $56.06B -1.5%
Total Revenue $192.43B +11.9%
Net Income $27.13B +2.3%
Return on Equity 9.24% -1.6%
Net Interest Margin 1.72% -4.0%
Efficiency Ratio 34.72% -9.4%
ROA 0.84% -1.0%
Equity / Assets 9.06% -1.2%
Book Value per Share 37.68 +4.4%
Tangible BV/Share 28.88 +4.8%
Debt/Equity 2.23 +5.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 34.7% efficiency ratio
✓Healthy dividend yield of 2.2%
✓Share count reduced 2.9% through buybacks
✓Trading at only 1.4x book value

✗Weaknesses

✗High debt to equity ratio of 2.2x
✗Weak NIM of 1.7%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.11%

5Y11.12%

3Y27.04%

TTM-

Profit (Net Income) CAGR

10Y17.26%

5Y-0.22%

3Y-5.33%

TTM25.56%

EPS CAGR

10Y24.5%

5Y3.21%

3Y-3.38%

TTM33.45%

ROCE

10Y Avg4.89%

5Y Avg4.37%

3Y Avg4.22%

Latest3.5%

Peer Comparison

US Global Banking Giants

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CCitigroup Inc.	208.09B	116.30	19.55	9.86%	7.43%	6.87%		2.82
WFCWells Fargo & Company	293.69B	93.56	17.42	8.72%	15.73%	11.51%	1.03%	1.56
BACBank of America Corporation	412.33B	54.54	16.94	11.94%	14.1%	9.75%		2.23
JPMJPMorgan Chase & Co.	838.25B	310.90	15.74	14.61%	21.59%	16.11%		2.18

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	38.96B	41.1B	45.24B	48.16B	48.89B	43.36B	42.93B	52.46B	56.93B	56.06B
NII Growth %	-0.04%	0.05%	0.1%	0.06%	0.02%	-0.11%	-0.01%	0.22%	0.09%	-0.02%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	49.51B	51.06B	57.58B	66.77B	71.24B	51.59B	47.67B	72.56B	130.26B	146.61B
Interest Expense	10.55B	9.96B	12.34B	18.61B	22.34B	8.22B	4.74B	20.1B	73.33B	90.55B
Loan Loss Provision	3.16B	3.6B	3.4B	3.28B	3.59B	11.32B	-4.59B	2.54B	4.39B	5.82B
Non-Interest Income+	44.01B	42.6B	41.89B	42.86B	42.35B	42.17B	46.18B	42.49B	41.65B	45.83B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	93.51B	93.66B	99.47B	109.63B	113.59B	93.75B	93.85B	115.05B	171.91B	192.43B
Revenue Growth %	-0.03%	0%	0.06%	0.1%	0.04%	-0.17%	0%	0.23%	0.49%	0.12%
Non-Interest Expense	57.62B	55.08B	54.52B	53.15B	54.9B	55.21B	59.73B	61.44B	65.84B	66.81B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	22.19B	25.02B	29.21B	34.58B	32.75B	19B	33.98B	30.97B	28.34B	29.25B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	1.79%	0.13%	0.17%	0.18%	-0.05%	-0.42%	0.79%	-0.09%	-0.08%	0.03%
Pretax Income+	22.19B	25.02B	29.21B	34.58B	32.75B	19B	33.98B	30.97B	28.34B	29.25B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	6.28B	7.2B	10.98B	6.44B	5.32B	1.1B	2B	3.44B	1.83B	2.12B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	15.91B	17.82B	18.23B	28.15B	27.43B	17.89B	31.98B	27.53B	26.52B	27.13B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	1.88%	0.12%	0.02%	0.54%	-0.03%	-0.35%	0.79%	-0.14%	-0.04%	0.02%
Net Income (Continuing)	15.91B	17.82B	18.23B	28.15B	27.43B	17.89B	31.98B	27.53B	26.52B	27.13B
EPS (Diluted)+	1.31	1.50	1.56	2.61	2.75	1.87	3.57	3.19	3.08	3.22
EPS Growth %	2.64%	0.15%	0.04%	0.67%	0.05%	-0.32%	0.91%	-0.11%	-0.03%	0.05%
EPS (Basic)	1.38	1.58	1.63	2.64	2.77	1.88	3.60	3.21	3.10	3.25
Diluted Shares Outstanding	11.24B	11.05B	10.78B	10.24B	9.44B	8.8B	8.56B	8.17B	8.08B	7.84B

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	167.1B	157.6B	168.59B	184.9B	168.67B	387.01B	355.37B	237.46B	341.42B	296.49B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	1.33T	1.37T	1.39T	1.41T	1.48T	1.63T	1.99T	1.94T	1.94T	2.03T
Investments Growth %	0.03%	0.03%	0.02%	0.01%	0.05%	0.11%	0.22%	-0.02%	0%	0.05%
Long-Term Investments	1.02T	1.07T	1.09T	1.18T	1.23T	1.4T	1.69T	1.72T	1.68T	1.69T
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	69.76B	68.97B	68.95B	68.95B	68.95B	68.95B	69.02B	69.02B	69.02B	69.02B
Intangible Assets	6.86B	2.75B	2.3B	0	0	0	0	0	0	0
PP&E (Net)	9.48B	9.14B	9.25B	9.91B	10.56B	11B	10.83B	11.51B	11.86B	12.17B
Other Assets	483.7B	502.43B	557.15B	591.8B	634.11B	638.12B	661.67B	714.44B	718.85B	751.23B
Total Current Assets	551.78B	532.53B	554.8B	502.46B	489.96B	702.66B	741.56B	539.38B	704.76B	740.84B
Total Non-Current Assets	1.59T	1.66T	1.73T	1.85T	1.94T	2.12T	2.43T	2.51T	2.48T	2.52T
Total Assets+	2.14T	2.19T	2.28T	2.35T	2.43T	2.82T	3.17T	3.05T	3.18T	3.26T
Asset Growth %	0.02%	0.02%	0.04%	0.03%	0.03%	0.16%	0.12%	-0.04%	0.04%	0.03%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	439.15B	411.06B	436.93B	436.57B	430.17B	452.58B	496.2B	498.55B	618.19B	658.43B
Net Debt	272.06B	253.46B	268.35B	251.67B	261.5B	65.57B	140.83B	261.09B	276.77B	361.94B
Long-Term Debt	236.76B	216.82B	227.4B	229.39B	240.86B	262.93B	280.12B	275.98B	302.2B	283.28B
Short-Term Debt	202.39B	194.24B	209.53B	207.18B	189.31B	189.64B	216.08B	222.57B	315.99B	375.15B
Other Liabilities	38.45B	39.48B	34.3B	37.89B	38.23B	47.4B	39.13B	46.36B	250.96B	249.52B
Total Current Liabilities	1.61T	1.67T	1.75T	1.82T	1.89T	2.24T	2.58T	2.46T	2.34T	2.43T
Total Non-Current Liabilities	275.21B	256.3B	261.7B	267.28B	279.08B	310.34B	319.25B	322.34B	553.16B	532.8B
Total Liabilities	1.89T	1.92T	2.01T	2.09T	2.17T	2.55T	2.9T	2.78T	2.89T	2.97T
Total Equity+	256.18B	266.19B	267.15B	265.32B	264.81B	272.92B	270.07B	273.2B	291.65B	295.56B
Equity Growth %	0.05%	0.04%	0%	-0.01%	-0%	0.03%	-0.01%	0.01%	0.07%	0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.06%	0.07%	0.07%	0.11%	0.1%	0.07%	0.12%	0.1%	0.09%	0.09%
Book Value per Share	22.80	24.10	24.79	25.92	28.04	31.03	31.56	33.45	36.09	37.68
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	151.04B	147.04B	138.09B	118.9B	91.72B	85.98B	62.4B	58.95B	56.37B	45.34B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	88.22B	101.22B	113.82B	136.31B	156.32B	164.09B	188.06B	207B	224.67B	242.35B
Accumulated OCI	-5.36B	-7.29B	-7.08B	-12.21B	-6.63B	-1.66B	-5.1B	-21.16B	-17.79B	-15.29B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	22.27B	25.22B	22.32B	22.33B	23.4B	24.51B	24.71B	28.4B	28.4B	23.16B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	28.4B	17.28B	9.86B	39.52B	61.78B	37.99B	-7.19B	-6.33B	44.98B	-8.8B
Operating CF Growth %	-0.08%	-0.39%	-0.43%	3.01%	0.56%	-0.38%	-1.19%	0.12%	8.11%	-1.2%
Net Income	15.89B	17.91B	18.23B	28.15B	27.43B	17.89B	31.98B	27.53B	26.52B	27.13B
Depreciation & Amortization	2.39B	2.24B	2.1B	2.06B	1.73B	1.84B	1.9B	1.98B	2.06B	2.19B
Deferred Taxes	2.97B	5.84B	8.18B	3.04B	2.44B	-1.74B	-838M	739M	-2.01B	-1.73B
Other Non-Cash Items	1.29B	6.83B	9.79B	3.28B	15.04B	18.29B	-3.08B	12.51B	12.75B	8.72B
Working Capital Changes	5.92B	-16.77B	-30.08B	1.26B	13.17B	-326M	-39.92B	-51.94B	2.73B	-48.55B
Cash from Investing+	-55.57B	-62.28B	-51.54B	-71.47B	-80.63B	-177.66B	-313.29B	-2.53B	-35.39B	-90.69B
Purchase of Investments	-255.99B	-228.96B	-192.06B	-112.62B	-189.9B	-452.41B	-601.13B	-159.06B	-291.06B	-390.91B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-42.52B	-32.14B	-43.36B	-61.27B	-56.62B	12.3B	-3.55B	-86.63B	-31.15B	-42.24B
Cash from Financing+	48.59B	32.98B	49.2B	53.12B	3.38B	355.82B	291.65B	-106.04B	93.34B	60.37B
Dividends Paid	-3.57B	-4.19B	-5.7B	-6.89B	-5.93B	-7.73B	-8.05B	-8.58B	-9.09B	-9.5B
Share Repurchases	-2.37B	-5.11B	-12.81B	-24.61B	-28.14B	-7.03B	-25.13B	-5.07B	-4.58B	-18.36B
Stock Issued	0	0	0	4.51B	0	0	0	0	0	5.25B
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	1000K	1000K	-1000K
Other Financing	51.29B	59.61B	55.24B	81.35B	30.75B	366.4B	290.55B	-131.2B	81.02B	84.13B
Net Change in Cash+	20.76B	-11.62B	9.7B	19.97B	-15.84B	218.9B	-32.24B	-118.02B	102.87B	-42.96B
Exchange Rate Effect	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K
Cash at Beginning	138.59B	159.35B	147.74B	157.43B	177.4B	161.56B	380.46B	348.22B	230.2B	333.07B
Cash at End	159.35B	147.74B	157.43B	177.4B	161.56B	380.46B	348.22B	230.2B	333.07B	290.11B
Interest Paid	10.62B	10.51B	12.85B	19.09B	22.2B	8.66B	4.51B	18.53B	69.6B	89.69B
Income Taxes Paid	2.33B	1.04B	3.23B	2.47B	4.36B	2.89B	2.76B	2.29B	3.4B	3.82B
Free Cash Flow+	28.4B	17.28B	9.86B	39.52B	61.78B	37.99B	-7.19B	-6.33B	44.98B	-8.8B
FCF Growth %	-0.08%	-0.39%	-0.43%	3.01%	0.56%	-0.38%	-1.19%	0.12%	8.11%	-1.2%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.37%	6.82%	6.84%	10.57%	10.35%	6.66%	11.78%	10.13%	9.39%	9.24%
Return on Assets (ROA)	0.75%	0.82%	0.82%	1.21%	1.15%	0.68%	1.07%	0.89%	0.85%	0.84%
Net Interest Margin	1.82%	1.88%	1.98%	2.05%	2.01%	1.54%	1.35%	1.72%	1.79%	1.72%
Efficiency Ratio	61.61%	58.81%	54.81%	48.49%	48.33%	58.89%	63.64%	53.4%	38.3%	34.72%
Equity / Assets	11.95%	12.17%	11.71%	11.27%	10.88%	9.68%	8.52%	8.95%	9.17%	9.06%
Book Value / Share	22.8	24.1	24.79	25.92	28.04	31.03	31.56	33.45	36.09	37.68
NII Growth	-4.47%	5.49%	10.08%	6.46%	1.51%	-11.31%	-0.98%	22.19%	8.52%	-1.53%
Dividend Payout	22.46%	23.53%	31.26%	24.5%	21.63%	43.18%	25.19%	31.15%	34.27%	35.03%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Loans and Leases	-	-	-	40.81B	43.09B	34.03B	29.28B	37.92B	57.12B	61.99B
Loans and Leases Growth	-	-	-	-	5.57%	-21.02%	-13.95%	29.50%	50.65%	8.52%
other interest income	-	-	-	6.25B	6.3B	2.73B	2.33B	7.44B	25.46B	28.32B
other interest income Growth	-	-	-	-	0.93%	-56.62%	-14.66%	218.68%	242.30%	11.23%
Debt securities	-	-	-	11.72B	11.81B	9.79B	12.38B	17.13B	20.23B	26.01B
Debt securities Growth	-	-	-	-	0.70%	-17.08%	26.41%	38.39%	18.09%	28.58%
Federal funds sold and securities borrowed or purchased under agreements to resell	-	-	-	3.18B	4.84B	903M	-90M	4.56B	18.68B	19.91B
Federal funds sold and securities borrowed or purchased under agreements to resell Growth	-	-	-	-	52.49%	-81.35%	-109.97%	5166.67%	309.63%	6.60%
Investment And Brokerage Services	-	-	-	14.16B	13.9B	14.57B	16.69B	15.9B	15.56B	17.77B
Investment And Brokerage Services Growth	-	-	-	-	-1.82%	4.83%	14.52%	-4.73%	-2.13%	14.16%
Market making and similar activities	-	-	-	8.54B	9.03B	8.36B	8.69B	12.07B	12.73B	12.97B
Market making and similar activities Growth	-	-	-	-	5.78%	-7.52%	4.02%	38.94%	5.44%	1.85%
Trading account assets	-	-	-	4.81B	5.2B	4.13B	3.77B	5.52B	8.77B	10.38B
Trading account assets Growth	-	-	-	-	8.00%	-20.55%	-8.67%	46.45%	58.90%	18.27%
Card income	-	-	-	6.05B	5.8B	5.66B	6.22B	6.08B	6.05B	6.28B
Card income Growth	-	-	-	-	-4.20%	-2.43%	9.94%	-2.17%	-0.48%	3.80%
Investment Banking Fees	-	-	-	5.33B	5.64B	7.18B	8.89B	4.82B	4.71B	6.19B
Investment Banking Fees Growth	-	-	-	-	5.91%	27.26%	23.77%	-45.73%	-2.38%	31.39%
Service Charges	-	-	-	7.77B	7.67B	7.14B	7.5B	6.41B	5.68B	6.05B
Service Charges Growth	-	-	-	-	-1.20%	-6.95%	5.08%	-14.65%	-11.26%	6.53%
other income	-	-	-	1.97B	304M	-738M	-1.81B	-2.8B	-3.09B	-3.43B
other income Growth	-	-	-	-	-84.57%	-342.76%	-145.39%	-54.56%	-10.43%	-11.00%
Consumer Banking	30.62B	31.73B	34.52B	-	-	-	-	-	-	-
Consumer Banking Growth	-	3.64%	8.79%	-	-	-	-	-	-	-
Global Banking	16.92B	18.43B	20B	-	-	-	-	-	-	-
Global Banking Growth	-	8.93%	8.51%	-	-	-	-	-	-	-
Global Wealth and Investment Management	18B	17.65B	18.59B	-	-	-	-	-	-	-
Global Wealth and Investment Management Growth	-	-1.95%	5.33%	-	-	-	-	-	-	-
Global Markets	15.07B	16.09B	15.95B	-	-	-	-	-	-	-
Global Markets Growth	-	6.79%	-0.86%	-	-	-	-	-	-	-
Legacy Assets and Servicing	3.43B	-	-	-	-	-	-	-	-	-
Legacy Assets and Servicing Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	71.66B	72.42B	74.83B	81B	81.24B	75.58B	78.01B	82.89B	85.57B	88.47B
UNITED STATES Growth	-	1.06%	3.33%	8.25%	0.29%	-6.97%	3.22%	6.25%	3.23%	3.38%
EMEA	6.08B	6.61B	7.91B	5.63B	5.31B	4.49B	5.42B	6.04B	6.39B	6.5B
EMEA Growth	-	8.67%	19.66%	-28.77%	-5.72%	-15.42%	20.75%	11.45%	5.77%	1.66%
Asia	3.52B	3.37B	3.4B	3.51B	3.49B	4.23B	4.44B	4.6B	4.95B	5.18B
Asia Growth	-	-4.51%	1.19%	3.00%	-0.46%	21.23%	4.89%	3.56%	7.72%	4.68%
Latin America	1.24B	1.31B	1.21B	1.1B	1.21B	1.23B	1.24B	1.42B	1.67B	1.74B
Latin America Growth	-	5.39%	-7.63%	-8.76%	9.33%	1.82%	0.81%	14.53%	17.34%	4.44%

Frequently Asked Questions

Valuation & Price

Bank of America Corporation (BAC) has a price-to-earnings (P/E) ratio of 16.9x. This is roughly in line with market averages.

Growth & Financials

Bank of America Corporation (BAC) grew revenue by 11.9% over the past year. This is steady growth.

Yes, Bank of America Corporation (BAC) is profitable, generating $29.65B in net income for fiscal year 2024 (14.1% net margin).

Dividend & Returns

Yes, Bank of America Corporation (BAC) pays a dividend with a yield of 2.22%. This makes it attractive for income-focused investors.

Bank of America Corporation (BAC) has a return on equity (ROE) of 9.2%. This is below average, suggesting room for improvement.

Industry Metrics

Bank of America Corporation (BAC) has a net interest margin (NIM) of 1.7%. NIM has been under pressure due to interest rate environment.

Bank of America Corporation (BAC) has an efficiency ratio of 34.7%. This is excellent, indicating strong cost control.

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