Bank of America (BAC) Financials

$52.27 +0.14 (+0.27%)

Closing price 03:59 PM Eastern

Extended Trading

$51.94 -0.33 (-0.63%)

As of 04:40 PM Eastern

Annual Income Statements for Bank of America

This table shows Bank of America's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	4,476	14,427	16,140	16,618	26,696	25,998	16,473	30,557	26,015	24,866	25,503
Consolidated Net Income / (Loss)	5,520	15,910	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,515	27,132
Net Income / (Loss) Continuing Operations	5,520	15,910	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,515	27,132
Total Pre-Tax Income	7,963	22,187	25,021	29,213	34,584	32,754	18,995	33,976	30,969	28,342	29,254
Total Revenue	85,894	82,965	83,701	87,126	91,020	91,244	85,528	89,113	94,950	98,581	101,887
Net Interest Income / (Expense)	40,779	38,958	41,096	45,239	48,162	48,891	43,360	42,934	52,462	56,931	56,060
Total Interest Income	51,714	49,507	51,057	57,579	66,769	71,236	51,585	47,672	72,565	130,262	146,607
Investment Securities Interest Income	9,010	9,178	9,167	57,579	66,769	71,236	51,585	47,672	72,565	130,262	146,607
Total Interest Expense	10,935	10,549	9,961	12,340	18,607	22,345	8,225	4,738	20,103	73,331	90,547
Total Non-Interest Income	45,115	44,007	42,605	41,887	42,858	42,353	42,168	46,179	42,488	41,650	45,827
Other Service Charges	17,976	17,487	9,475	34,785	33,850	33,319	33,813	37,488	30,413	28,918	32,860
Net Realized & Unrealized Capital Gains on Investments	7,790	7,611	6,902	7,102	9,008	9,034	8,355	8,691	12,075	12,732	12,967
Provision for Credit Losses	2,275	3,161	3,597	3,396	3,282	3,590	11,320	-4,594	2,543	4,394	5,821
Total Non-Interest Expense	75,656	57,617	55,083	54,517	53,154	54,900	55,213	59,731	61,438	65,845	66,812
Salaries and Employee Benefits	33,787	32,751	32,018	31,931	31,880	31,977	32,725	36,140	36,447	38,330	40,182
Net Occupancy & Equipment Expense	9,529	9,247	8,849	10,794	10,935	11,234	12,363	12,907	13,350	13,871	14,520
Marketing Expense	1,829	1,811	1,703	1,746	1,674	1,934	1,701	1,939	1,825	1,927	1,956
Other Operating Expenses	29,575	13,808	12,513	10,046	8,665	9,755	8,424	8,745	9,816	11,717	10,154
Income Tax Expense	2,443	6,277	7,199	10,981	6,437	5,324	1,101	1,998	3,441	1,827	2,122
Preferred Stock Dividends Declared	1,044	1,483	1,682	1,614	1,451	1,432	1,421	1,421	1,513	1,649	1,629
Basic Earnings per Share	$0.43	$1.38	$1.57	$1.63	$2.64	$2.77	$1.88	$3.60	$3.21	$3.10	$3.25
Weighted Average Basic Shares Outstanding	10.53B	10.46B	10.28B	10.20B	10.10B	9.39B	8.75B	8.49B	8.11B	8.03B	7.86B
Diluted Earnings per Share	$0.42	$1.31	$1.49	$1.56	$2.61	$2.75	$1.87	$3.57	$3.19	$3.08	$3.21
Weighted Average Diluted Shares Outstanding	10.58B	11.24B	11.05B	10.78B	10.24B	9.44B	8.80B	8.56B	8.17B	8.08B	7.94B
Weighted Average Basic & Diluted Shares Outstanding	10.52B	10.33B	10.03B	10.20B	10.11B	8.73B	8.63B	8.07B	8.00B	7.87B	7.60B
Cash Dividends to Common per Share	$0.12	$0.20	$0.25	$0.39	$0.54	$0.66	$0.72	$0.78	$0.86	$0.92	$1.00

This table shows Bank of America's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	6,904	7,656	7,102	7,270	2,838	6,142	6,582	6,380	6,399	6,990	6,825
Consolidated Net Income / (Loss)	7,132	8,161	7,408	7,802	3,144	6,674	6,897	6,896	6,665	7,396	7,116
Net Income / (Loss) Continuing Operations	7,132	8,161	7,408	7,802	3,144	6,674	6,897	6,896	6,665	7,396	7,116
Total Pre-Tax Income	7,897	9,089	8,034	8,095	3,124	7,262	7,560	7,324	7,108	8,116	7,688
Total Revenue	24,532	26,258	25,197	25,167	21,959	25,818	25,377	25,345	25,347	27,366	26,463
Net Interest Income / (Expense)	14,681	14,448	14,158	14,379	13,946	14,032	13,702	13,967	14,359	14,443	14,670
Total Interest Income	25,075	28,655	32,354	33,624	35,629	36,285	36,854	37,491	35,977	34,066	34,873
Investment Securities Interest Income	-	28,655	32,354	33,624	35,629	36,285	36,854	37,491	35,977	34,066	34,873
Total Interest Expense	10,394	14,207	18,196	19,245	21,683	22,253	23,152	23,524	21,618	19,623	20,203
Total Non-Interest Income	9,851	11,810	11,039	10,788	8,013	11,786	11,675	11,378	10,988	12,923	11,793
Other Service Charges	6,799	7,098	7,342	7,463	7,015	7,898	8,377	8,100	8,485	9,339	8,640
Net Realized & Unrealized Capital Gains on Investments	3,052	4,712	3,697	3,325	998	3,888	3,298	3,278	2,503	3,584	3,153
Provision for Credit Losses	-	931	1,125	1,234	1,104	1,319	1,508	1,542	1,452	1,480	1,592
Total Non-Interest Expense	15,543	16,238	16,038	15,838	17,731	17,237	16,309	16,479	16,787	17,770	17,183
Salaries and Employee Benefits	9,161	9,918	9,401	9,551	9,460	10,195	9,826	9,916	10,245	10,889	10,332
Net Occupancy & Equipment Expense	3,444	3,496	3,420	3,471	3,484	3,611	3,581	3,620	3,708	3,750	3,655
Marketing Expense	460	458	513	501	455	455	487	504	510	506	563
Other Operating Expenses	2,478	2,366	2,704	2,315	4,332	2,976	2,415	2,439	2,324	2,625	2,633
Income Tax Expense	765	928	626	293	-20	588	663	428	443	720	572
Preferred Stock Dividends Declared	228	505	306	532	306	532	315	516	266	406	291
Basic Earnings per Share	$0.86	$0.95	$0.88	$0.91	$0.36	$0.77	$0.83	$0.82	$0.83	$0.91	$0.90
Weighted Average Basic Shares Outstanding	8.11B	8.07B	8.04B	8.02B	8.03B	7.97B	7.90B	7.82B	7.86B	7.68B	7.58B
Diluted Earnings per Share	$0.85	$0.94	$0.88	$0.90	$0.36	$0.76	$0.83	$0.81	$0.81	$0.90	$0.89
Weighted Average Diluted Shares Outstanding	8.17B	8.18B	8.08B	8.08B	8.08B	8.03B	7.96B	7.90B	7.94B	7.77B	7.65B
Weighted Average Basic & Diluted Shares Outstanding	8.00B	7.97B	7.95B	7.91B	7.87B	7.82B	7.76B	7.67B	7.60B	7.53B	7.41B
Cash Dividends to Common per Share	-	-	-	-	-	-	-	$0.26	-	$0.26	$0.26

This table details how cash moves in and out of Bank of America's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	7,267	20,764	-11,615	9,696	19,970	-15,844	218,903	-32,242	-118,018	102,870	-42,959
Net Cash From Operating Activities	30,795	28,397	17,277	9,864	39,520	61,777	37,993	-7,193	-6,327	44,982	-8,805
Net Cash From Continuing Operating Activities	30,795	28,397	17,277	9,864	39,520	61,777	37,993	-7,193	-6,327	44,982	-8,805
Net Income / (Loss) Continuing Operations	5,520	15,910	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,515	27,132
Consolidated Net Income / (Loss)	5,520	15,910	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,515	27,132
Provision For Loan Losses	2,275	3,161	3,597	3,396	3,282	3,590	11,320	-4,594	2,543	4,394	5,821
Depreciation Expense	1,586	1,555	1,511	2,103	2,063	1,729	1,843	1,898	1,978	2,057	2,189
Amortization Expense	2,635	3,447	3,864	2,251	1,824	2,066	4,101	5,837	2,072	-397	-330
Non-Cash Adjustments to Reconcile Net Income	-1,086	11	6,151	6,611	5,517	15,501	-725	-7,043	-85,498	46,368	-2,593
Changes in Operating Assets and Liabilities, net	19,865	4,313	-15,668	-22,729	-1,313	11,461	3,560	-35,269	45,050	-33,955	-41,024
Net Cash From Investing Activities	-8,260	-55,571	-62,285	-51,541	-71,468	-80,630	-177,665	-313,291	-2,529	-35,387	-90,693
Net Cash From Continuing Investing Activities	-8,260	-55,571	-62,285	-51,541	-71,468	-80,630	-177,665	-313,291	-2,529	-35,387	-90,693
Purchase of Investment Securities	-255,129	-320,511	-274,554	-241,305	-146,868	-245,642	-420,509	-664,935	-255,478	-314,979	-451,128
Sale and/or Maturity of Investments	248,364	265,599	218,011	204,287	123,784	178,478	272,305	298,306	269,803	292,642	352,020
Net Increase in Fed Funds Sold	-1,495	-659	-5,742	-14,523	-48,384	-13,466	-29,461	53,338	-16,854	-13,050	8,415
Net Cash From Financing Activities	-12,201	48,535	33,153	49,268	53,118	3,377	355,819	291,650	-106,039	93,345	60,369
Net Cash From Continuing Financing Activities	-12,201	48,535	33,153	49,268	53,118	3,377	355,819	291,650	-106,039	93,345	60,369
Net Change in Deposits	-335	78,347	63,675	48,611	71,931	53,327	360,677	268,966	-134,190	-6,514	41,640
Issuance of Debt	36,746	40,596	31,523	53,486	64,278	56,424	52,120	81,107	69,089	70,558	56,683
Issuance of Preferred Equity	5,957	2,964	2,947	0.00	4,515	3,643	2,181	2,169	4,426	0.00	0.00
Repayment of Debt	-53,749	-40,365	-51,623	-49,480	-65,524	-50,794	-47,948	-46,826	-34,055	-44,571	-57,837
Repurchase of Preferred Equity	-	-	0.00	0.00	-4,512	-2,568	-1,072	-1,971	-654	0.00	-5,254
Repurchase of Common Equity	-1,675	-2,374	-5,112	-12,814	-20,094	-28,144	-7,025	-25,126	-5,073	-4,576	-13,104
Payment of Dividends	-2,306	-3,574	-4,194	-5,700	-6,895	-5,934	-7,727	-8,055	-8,576	-9,087	-9,503
Other Financing Activities, Net	3,161	-27,059	-4,063	15,165	9,419	-22,577	4,613	21,386	2,994	87,535	47,744
Effect of Exchange Rate Changes	-3,067	-597	240	2,105	-1,200	-368	2,756	-3,408	-3,123	-70	-3,830
Cash Interest Paid	11,082	10,623	10,510	12,852	19,087	22,196	8,662	4,506	18,526	69,604	89,687
Cash Income Taxes Paid	2,702	2,477	1,043	3,235	2,470	4,359	2,894	2,760	2,288	3,405	3,822

This table details how cash moves in and out of Bank of America's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Net Change in Cash & Equivalents	25,227	146,015	-2,665	-21,827	-18,653	-19,669	7,228	-25,043	-5,475	-16,535	-7,568
Net Cash From Operating Activities	30,998	-11,300	11,786	11,772	32,724	-15,539	18,096	-37,276	25,914	-2,184	-9,132
Net Cash From Continuing Operating Activities	30,998	-11,300	11,786	11,772	32,724	-15,539	18,096	-37,276	25,914	-2,184	-9,132
Net Income / (Loss) Continuing Operations	7,132	8,161	7,408	7,802	3,144	6,674	6,897	6,896	6,665	7,396	7,116
Consolidated Net Income / (Loss)	7,132	8,161	7,408	7,802	3,144	6,674	6,897	6,896	6,665	7,396	7,116
Provision For Loan Losses	1,092	931	1,125	1,234	1,104	1,319	1,508	1,542	1,452	1,480	1,592
Depreciation Expense	502	503	510	517	527	538	543	549	559	565	571
Amortization Expense	210	34	30	91	-552	-352	-42	40	24	-85	-61
Non-Cash Adjustments to Reconcile Net Income	-96,840	928	494	-1,073	46,019	343	1,776	-59,518	57,405	-10,141	-13,934
Changes in Operating Assets and Liabilities, net	118,902	-21,857	2,219	3,201	-17,518	-24,061	7,414	13,215	-40,191	-1,399	-4,416
Net Cash From Investing Activities	14,380	30,846	57,884	-59,934	-64,183	-71,322	-1,523	-27,258	9,410	-89,010	-56,918
Net Cash From Continuing Investing Activities	14,380	30,846	57,884	-59,934	-64,183	-71,322	-1,523	-27,258	9,410	-89,010	-56,918
Purchase of Investment Securities	-40,468	-24,926	-27,454	-53,217	-209,382	-157,256	-93,682	-98,950	-102,054	-91,564	-93,301
Sale and/or Maturity of Investments	47,175	86,276	63,541	26,251	116,574	118,903	113,818	71,646	48,467	56,210	64,397
Net Increase in Fed Funds Sold	7,673	-30,504	21,797	-32,968	28,625	-32,969	-21,659	46	62,997	-53,656	-28,014
Net Cash From Financing Activities	-24,385	126,121	-71,695	27,628	11,291	68,658	-8,300	36,779	-36,768	72,832	55,059
Net Cash From Continuing Financing Activities	-24,385	126,121	-71,695	27,628	11,291	68,658	-8,300	36,779	-36,768	72,832	55,059
Net Change in Deposits	-7,756	-19,939	-33,193	7,392	39,226	22,669	-36,005	19,861	35,115	24,097	22,049
Issuance of Debt	13,887	14,319	30,475	21,425	4,339	22,459	16,245	11,512	6,467	33,640	27,786
Repayment of Debt	-6,956	18,291	-40,559	-9,899	-12,404	-16,607	-19,535	-16,569	-5,126	-18,254	-17,710
Repurchase of Common Equity	-998	-2,215	-550	-1,000	-811	-2,500	-3,535	-3,534	-3,535	-4,521	-5,302
Payment of Dividends	-2,105	-2,352	-2,091	-2,411	-2,233	-2,519	-2,216	-2,493	-2,275	-2,552	-2,200
Other Financing Activities, Net	-19,803	118,017	-25,777	12,121	-16,826	45,156	38,600	30,002	-66,014	43,091	27,440
Effect of Exchange Rate Changes	4,234	348	-640	-1,293	1,515	-1,466	-1,045	2,712	-4,031	1,827	3,423

This table presents Bank of America's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	2,104,534	2,144,287	2,188,067	2,281,234	2,354,507	2,434,079	2,819,627	3,169,495	3,051,375	3,180,151	3,261,519
Cash and Due from Banks	33,118	31,265	30,719	29,480	29,063	30,152	36,430	29,222	30,334	27,892	26,003
Federal Funds Sold	191,823	192,482	198,224	212,747	261,131	274,597	304,058	250,720	267,574	280,624	274,709
Interest Bearing Deposits at Other Banks	105,471	128,088	117,019	127,954	148,341	131,408	344,033	318,999	199,869	305,181	264,111
Time Deposits Placed and Other Short-Term Investments	7,510	7,744	9,861	11,153	7,494	7,107	6,546	7,144	7,259	8,346	6,372
Trading Account Securities	637,764	640,858	662,518	698,680	710,193	751,666	940,126	1,280,686	1,214,440	1,194,086	1,282,237
Loans and Leases, Net of Allowance	866,972	884,749	895,446	926,356	937,294	974,010	909,059	966,737	1,033,065	1,040,390	1,082,595
Loans and Leases	881,391	896,983	906,683	936,749	946,895	983,426	927,861	979,124	1,045,747	1,053,732	1,095,835
Allowance for Loan and Lease Losses	14,419	12,234	11,237	10,393	9,601	9,416	18,802	12,387	12,682	13,342	13,240
Premises and Equipment, Net	10,049	9,485	9,139	9,247	9,906	10,561	11,000	10,833	11,510	11,855	12,168
Goodwill	69,777	69,761	68,969	68,951	68,951	68,951	68,951	69,022	69,022	69,021	69,021
Other Assets	177,438	176,087	196,172	196,666	182,134	185,627	199,424	236,132	218,302	242,756	244,303
Total Liabilities & Shareholders' Equity	2,104,534	2,144,287	2,188,067	2,281,234	2,354,507	2,434,079	2,819,627	3,169,495	3,051,375	3,180,151	3,261,519
Total Liabilities	1,861,063	1,888,111	1,921,872	2,014,088	2,089,182	2,169,269	2,546,703	2,899,429	2,778,178	2,888,505	2,965,960
Non-Interest Bearing Deposits	400,332	432,153	450,164	444,674	426,647	417,024	668,372	811,646	661,225	547,046	523,858
Interest Bearing Deposits	718,604	765,106	810,770	864,871	954,829	1,017,779	1,127,108	1,252,800	1,269,116	1,376,781	1,441,609
Federal Funds Purchased and Securities Sold	201,277	174,291	170,291	176,865	186,988	165,109	170,323	192,329	195,635	283,887	331,758
Short-Term Debt	31,172	28,098	23,944	32,666	58,080	24,204	64,847	23,753	26,932	32,098	43,391
Long-Term Debt	243,139	236,764	216,823	227,402	229,392	240,856	262,934	280,117	275,982	302,204	283,279
Other Long-Term Liabilities	266,677	251,720	249,921	267,647	233,246	304,319	253,119	338,791	349,301	346,508	342,086
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	243,471	256,176	266,195	267,146	265,325	264,810	272,924	270,066	273,197	291,646	295,559
Total Preferred & Common Equity	243,471	256,176	266,195	267,146	265,325	264,810	272,924	270,066	273,197	291,646	295,559
Preferred Stock	19,309	22,273	-	-	22,326	23,401	24,510	-	-	28,397	23,159
Total Common Equity	224,162	233,903	266,195	267,146	242,999	241,409	248,414	270,066	273,197	263,249	272,400
Common Stock	153,458	151,042	147,038	138,089	118,896	91,723	85,982	62,398	58,953	56,365	45,336
Retained Earnings	75,024	88,219	101,225	113,816	136,314	156,319	164,088	188,064	207,003	224,672	242,349
Accumulated Other Comprehensive Income / (Loss)	-4,320	-5,358	-7,288	-7,082	-12,211	-6,633	-1,656	-5,104	-21,156	-17,788	-15,285

This table presents Bank of America's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Total Assets	3,051,375	3,194,657	3,123,198	3,153,090	3,180,151	3,273,803	3,282,834	3,324,293	3,261,519	3,349,424	3,441,142
Cash and Due from Banks	30,334	29,327	29,651	25,255	27,892	23,550	25,849	24,847	26,003	24,734	26,661
Federal Funds Sold	267,574	298,078	276,281	309,249	280,624	316,093	337,752	337,706	274,709	328,365	352,392
Interest Bearing Deposits at Other Banks	199,869	346,891	343,902	326,471	305,181	289,854	294,783	270,742	264,111	248,845	239,350
Time Deposits Placed and Other Short-Term Investments	7,259	11,637	7,941	7,995	8,346	7,859	8,369	8,151	6,372	7,282	9,377
Trading Account Securities	1,214,440	1,159,739	1,120,821	1,140,337	1,194,086	1,273,153	1,233,529	1,279,657	1,282,237	1,321,966	1,334,912
Loans and Leases, Net of Allowance	1,033,065	1,033,892	1,038,274	1,035,862	1,040,390	1,035,943	1,062,457	1,062,549	1,082,595	1,097,369	1,133,765
Loans and Leases	1,045,747	1,046,406	1,051,224	1,049,149	1,053,732	1,049,156	1,076,612	1,075,800	1,095,835	1,110,625	1,147,056
Allowance for Loan and Lease Losses	12,682	12,514	12,950	13,287	13,342	13,213	14,155	13,251	13,240	13,256	13,291
Premises and Equipment, Net	11,510	11,708	11,688	11,821	11,855	11,901	11,917	12,033	12,168	12,151	12,254
Goodwill	69,022	69,022	69,021	69,021	69,021	69,021	69,021	69,021	69,021	69,021	69,021
Other Assets	218,302	234,363	225,619	227,079	242,756	246,429	239,157	259,587	244,303	239,691	263,410
Total Liabilities & Shareholders' Equity	3,051,375	3,194,657	3,123,198	3,153,090	3,180,151	3,273,803	3,257,996	3,324,293	3,261,519	3,349,424	3,441,142
Total Liabilities	2,778,178	2,914,461	2,839,879	2,866,026	2,888,505	2,980,251	2,976,606	3,027,781	2,965,960	3,053,843	3,141,543
Non-Interest Bearing Deposits	661,225	635,608	588,283	564,609	547,046	541,484	517,610	513,720	523,858	530,010	528,970
Interest Bearing Deposits	1,269,116	1,274,794	1,288,926	1,319,992	1,376,781	1,405,012	1,392,881	1,416,632	1,441,609	1,459,554	1,482,643
Federal Funds Purchased and Securities Sold	195,635	314,380	288,627	300,703	283,887	329,658	368,106	397,958	331,758	376,070	399,460
Short-Term Debt	26,932	56,564	41,017	40,196	32,098	79,296	84,280	81,571	43,391	41,470	89,584
Long-Term Debt	275,982	283,873	286,073	290,359	302,204	296,346	299,611	296,927	283,279	304,146	313,418
Other Long-Term Liabilities	349,301	349,249	346,963	350,179	346,508	328,473	314,118	320,973	342,086	342,623	327,468
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	273,197	280,196	283,319	287,064	291,646	293,552	293,892	296,512	295,559	295,581	299,599
Total Preferred & Common Equity	273,197	280,196	283,319	287,064	291,646	293,552	293,892	296,512	295,559	295,581	299,599
Preferred Stock	-	-	-	-	28,397	28,397	26,548	24,554	23,159	20,499	23,495
Total Common Equity	273,197	280,196	283,319	287,064	263,249	265,155	267,344	271,958	272,400	275,082	276,104
Common Stock	58,953	57,264	57,267	56,710	56,365	54,310	51,376	48,338	45,336	41,038	36,428
Retained Earnings	207,003	213,062	218,397	223,749	224,672	228,902	233,597	237,954	242,349	247,315	252,180
Accumulated Other Comprehensive Income / (Loss)	-21,156	-18,527	-20,742	-21,792	-17,788	-18,057	-17,629	-14,334	-15,285	-13,271	-12,504

This table displays calculated financial ratios and metrics derived from Bank of America's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.43%	-3.41%	0.89%	4.09%	4.47%	0.25%	-6.26%	4.19%	6.55%	3.82%	3.35%
EBITDA Growth	-40.37%	123.15%	11.80%	10.43%	14.61%	-5.00%	-31.77%	67.25%	-16.04%	-14.33%	3.70%
EBIT Growth	-50.76%	178.63%	12.77%	16.75%	18.39%	-5.29%	-42.01%	78.87%	-8.85%	-8.48%	3.22%
NOPAT Growth	-51.71%	188.22%	12.02%	2.30%	54.38%	-2.55%	-34.76%	78.71%	-13.92%	-3.68%	2.33%
Net Income Growth	-51.71%	188.22%	12.02%	2.30%	54.38%	-2.55%	-34.76%	78.71%	-13.92%	-3.68%	2.33%
EPS Growth	-53.33%	211.90%	13.74%	4.70%	67.31%	5.36%	-32.00%	90.91%	-10.64%	-3.45%	4.22%
Operating Cash Flow Growth	-66.82%	-7.79%	-39.16%	-42.91%	300.65%	56.32%	-38.50%	-118.93%	12.04%	810.95%	-119.57%
Free Cash Flow Firm Growth	-38.90%	-21.38%	152.08%	-106.33%	226.93%	1,864.00%	-205.13%	210.97%	-56.84%	-191.99%	232.28%
Invested Capital Growth	-2.00%	0.63%	-2.70%	3.99%	4.85%	-4.15%	13.37%	-4.46%	0.38%	8.65%	-0.59%
Revenue Q/Q Growth	-1.28%	-1.51%	1.07%	0.25%	2.79%	-0.36%	-2.56%	2.25%	2.67%	-2.54%	3.44%
EBITDA Q/Q Growth	11.74%	0.27%	4.27%	-0.37%	6.52%	-1.03%	-4.53%	3.85%	-5.32%	-24.80%	17.31%
EBIT Q/Q Growth	24.62%	-4.39%	6.48%	0.82%	7.92%	-1.59%	-9.74%	5.26%	-2.77%	-24.42%	15.77%
NOPAT Q/Q Growth	5.71%	-4.08%	9.54%	-10.97%	21.15%	-1.02%	-7.85%	5.07%	0.43%	-13.07%	14.91%
Net Income Q/Q Growth	5.71%	-4.08%	9.54%	-10.97%	21.15%	-1.02%	-7.85%	5.07%	0.43%	-13.07%	14.91%
EPS Q/Q Growth	10.53%	-5.07%	10.37%	-10.34%	23.11%	1.85%	-7.88%	7.21%	0.63%	-13.73%	16.30%
Operating Cash Flow Q/Q Growth	-27.44%	23.16%	-46.68%	31.10%	-14.72%	649.23%	-10.61%	-361.56%	-186.36%	3.99%	-341.35%
Free Cash Flow Firm Q/Q Growth	39.56%	15.59%	45.83%	-123.00%	-91.92%	283.17%	-436.03%	35.88%	328.94%	-202.60%	191.33%
Invested Capital Q/Q Growth	-0.82%	-1.26%	-2.90%	-1.23%	5.24%	-8.72%	2.83%	0.45%	-5.53%	1.35%	-7.82%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	14.18%	32.77%	36.32%	38.53%	42.27%	40.06%	29.16%	46.81%	36.88%	30.43%	30.54%
EBIT Margin	9.27%	26.74%	29.89%	33.53%	38.00%	35.90%	22.21%	38.13%	32.62%	28.75%	28.71%
Profit (Net Income) Margin	6.43%	19.18%	21.29%	20.93%	30.92%	30.06%	20.92%	35.88%	28.99%	26.90%	26.63%
Tax Burden Percent	69.32%	71.71%	71.23%	62.41%	81.39%	83.75%	94.20%	94.12%	88.89%	93.55%	92.75%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	30.68%	28.29%	28.77%	37.59%	18.61%	16.25%	5.80%	5.88%	11.11%	6.45%	7.25%
Return on Invested Capital (ROIC)	1.06%	3.06%	3.47%	3.53%	5.21%	5.07%	3.17%	5.44%	4.79%	4.41%	4.35%
ROIC Less NNEP Spread (ROIC-NNEP)	1.06%	3.06%	3.47%	3.53%	5.21%	5.07%	3.17%	5.44%	4.79%	4.41%	4.35%
Return on Net Nonoperating Assets (RNNOA)	1.26%	3.31%	3.36%	3.31%	5.36%	5.28%	3.49%	6.33%	5.35%	4.98%	4.89%
Return on Equity (ROE)	2.32%	6.37%	6.82%	6.84%	10.57%	10.35%	6.66%	11.78%	10.13%	9.39%	9.24%
Cash Return on Invested Capital (CROIC)	3.08%	2.44%	6.21%	-0.39%	0.47%	9.30%	-9.37%	10.00%	4.41%	-3.88%	4.94%
Operating Return on Assets (OROA)	0.38%	1.04%	1.16%	1.31%	1.49%	1.37%	0.72%	1.13%	1.00%	0.91%	0.91%
Return on Assets (ROA)	0.26%	0.75%	0.82%	0.82%	1.21%	1.15%	0.68%	1.07%	0.89%	0.85%	0.84%
Return on Common Equity (ROCE)	2.22%	5.84%	6.53%	6.84%	10.13%	9.46%	6.06%	11.25%	10.13%	8.92%	8.43%
Return on Equity Simple (ROE_SIMPLE)	2.27%	6.21%	6.70%	6.82%	10.61%	10.36%	6.56%	11.84%	10.08%	9.09%	9.18%
Net Operating Profit after Tax (NOPAT)	5,520	15,910	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,515	27,132
NOPAT Margin	6.43%	19.18%	21.29%	20.93%	30.92%	30.06%	20.92%	35.88%	28.99%	26.90%	26.63%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	52.56%	52.80%	50.86%	51.04%	48.88%	49.48%	54.71%	57.22%	54.37%	54.91%	55.61%
Operating Expenses to Revenue	88.08%	69.45%	65.81%	62.57%	58.40%	60.17%	64.56%	67.03%	64.71%	66.79%	65.57%
Earnings before Interest and Taxes (EBIT)	7,963	22,187	25,021	29,213	34,584	32,754	18,995	33,976	30,969	28,342	29,254
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12,184	27,189	30,396	33,567	38,471	36,549	24,939	41,711	35,019	30,002	31,113
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.67	0.61	0.70	0.97	0.85	1.15	0.95	1.24	0.91	0.98	1.23
Price to Tangible Book Value (P/TBV)	1.01	0.89	0.94	1.31	1.19	1.61	1.32	1.66	1.22	1.33	1.65
Price to Revenue (P/Rev)	1.76	1.72	2.21	2.98	2.28	3.05	2.76	3.75	2.63	2.62	3.29
Price to Earnings (P/E)	33.71	9.92	11.48	15.61	7.77	10.69	14.34	10.94	9.60	10.38	13.14
Dividend Yield	0.84%	1.46%	1.36%	1.57%	2.55%	2.14%	2.64%	1.91%	2.76%	2.82%	2.29%
Earnings Yield	2.97%	10.08%	8.71%	6.41%	12.87%	9.35%	6.97%	9.14%	10.42%	9.63%	7.61%
Enterprise Value to Invested Capital (EV/IC)	0.21	0.14	0.14	0.26	0.13	0.23	0.00	0.06	0.08	0.00	0.18
Enterprise Value to Revenue (EV/Rev)	1.24	0.85	0.84	1.59	0.78	1.35	0.00	0.36	0.50	0.00	1.12
Enterprise Value to EBITDA (EV/EBITDA)	8.75	2.60	2.31	4.12	1.85	3.37	0.00	0.77	1.36	0.00	3.66
Enterprise Value to EBIT (EV/EBIT)	13.39	3.19	2.80	4.73	2.06	3.76	0.00	0.95	1.54	0.00	3.89
Enterprise Value to NOPAT (EV/NOPAT)	19.31	4.44	3.94	7.58	2.53	4.49	0.00	1.01	1.73	0.00	4.19
Enterprise Value to Operating Cash Flow (EV/OCF)	3.46	2.49	4.06	14.01	1.80	1.99	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	6.62	5.58	2.20	0.00	27.79	2.45	0.00	0.55	1.88	0.00	3.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.13	1.03	0.90	0.97	1.08	1.00	1.20	1.13	1.11	1.15	1.11
Long-Term Debt to Equity	1.00	0.92	0.81	0.85	0.86	0.91	0.96	1.04	1.01	1.04	0.96
Financial Leverage	1.20	1.08	0.97	0.94	1.03	1.04	1.10	1.16	1.12	1.13	1.13
Leverage Ratio	8.83	8.50	8.29	8.38	8.71	9.03	9.77	11.03	11.45	11.03	10.97
Compound Leverage Factor	8.83	8.50	8.29	8.38	8.71	9.03	9.77	11.03	11.45	11.03	10.97
Debt to Total Capital	52.98%	50.83%	47.49%	49.33%	52.00%	50.02%	54.57%	52.94%	52.58%	53.41%	52.50%
Short-Term Debt to Total Capital	6.02%	5.39%	4.72%	6.20%	10.51%	4.57%	10.80%	4.14%	4.67%	5.13%	6.97%
Long-Term Debt to Total Capital	46.96%	45.44%	42.77%	43.13%	41.50%	45.46%	43.77%	48.81%	47.90%	48.28%	45.53%
Preferred Equity to Total Capital	3.73%	4.27%	0.00%	0.00%	4.04%	4.42%	4.08%	0.00%	0.00%	4.54%	3.72%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.29%	44.89%	52.51%	50.67%	43.96%	45.56%	41.35%	47.06%	47.42%	42.06%	43.78%
Debt to EBITDA	22.51	9.74	7.92	7.75	7.47	7.25	13.14	7.29	8.65	11.14	10.50
Net Debt to EBITDA	-5.22	-3.48	-3.79	-3.61	-4.12	-4.88	-14.57	-7.25	-5.77	-9.59	-7.86
Long-Term Debt to EBITDA	19.96	8.71	7.13	6.77	5.96	6.59	10.54	6.72	7.88	10.07	9.10
Debt to NOPAT	49.69	16.65	13.51	14.26	10.21	9.66	18.32	9.50	11.00	12.61	12.04
Net Debt to NOPAT	-11.52	-5.95	-6.46	-6.65	-5.63	-6.50	-20.30	-9.45	-7.34	-10.85	-9.01
Long-Term Debt to NOPAT	44.05	14.88	12.17	12.47	8.15	8.78	14.69	8.76	10.03	11.40	10.44
Noncontrolling Interest Sharing Ratio	4.06%	8.32%	4.26%	0.00%	4.19%	8.63%	8.91%	4.51%	0.00%	5.03%	8.78%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	16,096	12,654	31,898	-2,020	2,564	50,357	-52,941	58,747	25,353	-23,322	30,851
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	1.47	1.20	3.20	-0.16	0.14	2.25	-6.44	12.40	1.26	-0.32	0.34
Operating Cash Flow to Interest Expense	2.82	2.69	1.73	0.80	2.12	2.76	4.62	-1.52	-0.31	0.61	-0.10
Operating Cash Flow Less CapEx to Interest Expense	2.82	2.69	1.73	0.80	2.12	2.76	4.62	-1.52	-0.31	0.61	-0.10
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.03
Fixed Asset Turnover	8.37	8.49	8.99	9.48	9.50	8.92	7.93	8.16	8.50	8.44	8.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	517,782	521,038	506,962	527,214	552,797	529,870	600,705	573,936	576,111	625,948	622,229
Invested Capital Turnover	0.16	0.16	0.16	0.17	0.17	0.17	0.15	0.15	0.17	0.16	0.16
Increase / (Decrease) in Invested Capital	-10,576	3,256	-14,076	20,252	25,583	-22,927	70,835	-26,769	2,175	49,837	-3,719
Enterprise Value (EV)	106,596	70,666	70,173	138,159	71,257	123,209	-102,509	32,192	47,587	-1,131	113,742
Market Capitalization	150,898	143,110	185,229	259,425	207,488	278,012	236,267	334,407	249,709	258,213	335,108
Book Value per Share	$21.32	$22.46	$26.34	$25.61	$24.76	$26.84	$28.72	$33.00	$34.05	$33.26	$35.50
Tangible Book Value per Share	$14.24	$15.40	$19.52	$19.00	$17.73	$19.17	$20.75	$24.57	$25.45	$24.54	$26.51
Total Capital	517,782	521,038	506,962	527,214	552,797	529,870	600,705	573,936	576,111	625,948	622,229
Total Debt	274,311	264,862	240,767	260,068	287,472	265,060	327,781	303,870	302,914	334,302	326,670
Total Long-Term Debt	243,139	236,764	216,823	227,402	229,392	240,856	262,934	280,117	275,982	302,204	283,279
Net Debt	-63,611	-94,717	-115,056	-121,266	-158,557	-178,204	-363,286	-302,215	-202,122	-287,741	-244,525
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	274,311	264,862	240,767	260,068	287,472	265,060	327,781	303,870	302,914	334,302	326,670
Total Depreciation and Amortization (D&A)	4,221	5,002	5,375	4,354	3,887	3,795	5,944	7,735	4,050	1,660	1,859
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.36	$1.38	$1.58	$1.63	$2.64	$2.77	$1.88	$3.60	$3.21	$3.10	$3.25
Adjusted Weighted Average Basic Shares Outstanding	10.53B	10.46B	10.28B	10.20B	10.10B	9.39B	8.75B	8.49B	8.11B	8.03B	7.86B
Adjusted Diluted Earnings per Share	$0.36	$1.31	$1.50	$1.56	$2.61	$2.75	$1.87	$3.57	$3.19	$3.08	$3.21
Adjusted Weighted Average Diluted Shares Outstanding	10.58B	11.21B	11.04B	10.78B	10.24B	9.44B	8.80B	8.56B	8.17B	8.08B	7.94B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$2.77	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	10.52B	10.33B	10.03B	10.24B	9.66B	8.73B	8.63B	8.07B	8.00B	7.87B	7.60B
Normalized Net Operating Profit after Tax (NOPAT)	5,520	15,910	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,515	27,132
Normalized NOPAT Margin	6.43%	19.18%	21.29%	20.93%	30.92%	30.06%	20.92%	35.88%	28.99%	26.90%	26.63%
Pre Tax Income Margin	9.27%	26.74%	29.89%	33.53%	38.00%	35.90%	22.21%	38.13%	32.62%	28.75%	28.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.73	2.10	2.51	2.37	1.86	1.47	2.31	7.17	1.54	0.39	0.32
NOPAT to Interest Expense	0.50	1.51	1.79	1.48	1.51	1.23	2.18	6.75	1.37	0.36	0.30
EBIT Less CapEx to Interest Expense	0.73	2.10	2.51	2.37	1.86	1.47	2.31	7.17	1.54	0.39	0.32
NOPAT Less CapEx to Interest Expense	0.50	1.51	1.79	1.48	1.51	1.23	2.18	6.75	1.37	0.36	0.30
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	41.78%	22.46%	23.53%	31.26%	24.50%	21.63%	43.18%	25.19%	31.15%	34.27%	35.03%
Augmented Payout Ratio	72.12%	37.39%	52.22%	101.55%	95.89%	124.24%	82.44%	103.76%	49.58%	51.53%	83.32%

This table displays calculated financial ratios and metrics derived from Bank of America's official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.21%	13.04%	11.06%	2.71%	-10.49%	-1.68%	0.71%	0.71%	15.43%	6.00%	4.28%
EBITDA Growth	0.88%	3.42%	7.62%	-5.04%	-68.05%	-22.63%	-5.98%	-9.08%	148.18%	15.41%	1.70%
EBIT Growth	14.98%	14.92%	16.57%	-2.48%	-65.25%	-20.10%	-5.90%	-9.52%	127.53%	11.76%	1.69%
NOPAT Growth	1.70%	15.48%	18.58%	10.17%	-55.92%	-18.22%	-6.90%	-11.61%	111.99%	10.82%	3.18%
Net Income Growth	1.70%	15.48%	18.58%	10.17%	-55.92%	-18.22%	-6.90%	-11.61%	111.99%	10.82%	3.18%
EPS Growth	2.41%	17.50%	20.55%	11.11%	-57.65%	-19.15%	-5.68%	-10.00%	125.00%	18.42%	7.23%
Operating Cash Flow Growth	-30.58%	75.13%	333.43%	-10.51%	5.57%	-37.51%	53.54%	-416.65%	-20.81%	85.95%	-150.46%
Free Cash Flow Firm Growth	-85.33%	103.16%	125.78%	100.09%	-1,041.96%	-2,293.04%	-996.16%	-174,220.69%	122.24%	184.50%	92.63%
Invested Capital Growth	0.38%	1.02%	-0.12%	1.27%	8.65%	7.82%	13.06%	9.29%	-0.59%	-4.18%	1.81%
Revenue Q/Q Growth	0.12%	7.04%	-4.04%	-0.12%	-12.75%	17.57%	-1.71%	-0.13%	0.01%	7.97%	-3.30%
EBITDA Q/Q Growth	5.85%	-0.77%	-10.93%	1.50%	-64.39%	140.34%	8.23%	-1.84%	-2.81%	11.77%	-4.63%
EBIT Q/Q Growth	8.29%	1.11%	-11.61%	0.76%	-61.41%	132.46%	4.10%	-3.12%	-2.95%	14.18%	-5.27%
NOPAT Q/Q Growth	0.71%	14.43%	-9.23%	5.32%	-59.70%	112.28%	3.34%	-0.01%	-3.35%	10.97%	-3.79%
Net Income Q/Q Growth	0.71%	14.43%	-9.23%	5.32%	-59.70%	112.28%	3.34%	-0.01%	-3.35%	10.97%	-3.79%
EPS Q/Q Growth	4.94%	10.59%	-6.38%	2.27%	-60.00%	111.11%	9.21%	-2.41%	0.00%	11.11%	-1.11%
Operating Cash Flow Q/Q Growth	135.65%	-136.45%	204.30%	-0.12%	177.98%	-147.49%	216.46%	-305.99%	169.52%	-108.43%	-318.13%
Free Cash Flow Firm Q/Q Growth	115.79%	-61.47%	325.39%	-99.64%	-161,110.34%	10.29%	-73.83%	30.65%	120.56%	240.84%	-115.16%
Invested Capital Q/Q Growth	-5.53%	7.73%	-1.65%	1.18%	1.35%	6.91%	3.13%	-2.19%	-7.82%	3.05%	9.58%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	39.54%	36.66%	34.03%	34.58%	14.11%	28.85%	31.77%	31.22%	30.34%	31.41%	30.98%
EBIT Margin	36.64%	34.61%	31.88%	32.17%	14.23%	28.13%	29.79%	28.90%	28.04%	29.66%	29.05%
Profit (Net Income) Margin	29.07%	31.08%	29.40%	31.00%	14.32%	25.85%	27.18%	27.21%	26.30%	27.03%	26.89%
Tax Burden Percent	90.31%	89.79%	92.21%	96.38%	100.64%	91.90%	91.23%	94.16%	93.77%	91.13%	92.56%
Interest Burden Percent	87.85%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	9.69%	10.21%	7.79%	3.62%	-0.64%	8.10%	8.77%	5.84%	6.23%	8.87%	7.44%
Return on Invested Capital (ROIC)	4.80%	4.93%	4.84%	5.11%	2.35%	3.93%	4.11%	4.15%	4.29%	4.27%	4.04%
ROIC Less NNEP Spread (ROIC-NNEP)	4.80%	4.93%	4.84%	5.11%	2.35%	3.93%	4.11%	4.15%	4.29%	4.27%	4.04%
Return on Net Nonoperating Assets (RNNOA)	5.36%	6.21%	5.86%	6.16%	2.65%	4.91%	5.15%	5.04%	4.83%	5.22%	5.44%
Return on Equity (ROE)	10.16%	11.14%	10.70%	11.27%	5.00%	8.84%	9.26%	9.18%	9.13%	9.49%	9.47%
Cash Return on Invested Capital (CROIC)	4.41%	3.62%	4.99%	3.70%	-3.88%	-3.65%	-8.49%	-5.23%	4.94%	8.52%	2.24%
Operating Return on Assets (OROA)	1.12%	1.05%	1.03%	1.05%	0.45%	0.85%	0.91%	0.88%	0.89%	0.93%	0.90%
Return on Assets (ROA)	0.89%	0.95%	0.95%	1.01%	0.45%	0.78%	0.83%	0.83%	0.83%	0.84%	0.84%
Return on Common Equity (ROCE)	10.16%	10.59%	10.13%	10.68%	4.75%	8.41%	8.83%	8.80%	8.32%	8.70%	8.67%
Return on Equity Simple (ROE_SIMPLE)	0.00%	10.22%	10.51%	10.63%	0.00%	8.53%	8.34%	7.96%	0.00%	9.42%	9.37%
Net Operating Profit after Tax (NOPAT)	7,132	8,161	7,408	7,802	3,144	6,674	6,897	6,896	6,665	7,396	7,116
NOPAT Margin	29.07%	31.08%	29.40%	31.00%	14.32%	25.85%	27.18%	27.21%	26.30%	27.03%	26.89%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	53.26%	52.83%	52.92%	53.73%	61.02%	55.24%	54.75%	55.40%	57.06%	55.34%	54.98%
Operating Expenses to Revenue	63.36%	61.84%	63.65%	62.93%	80.75%	66.76%	64.27%	65.02%	66.23%	64.93%	64.93%
Earnings before Interest and Taxes (EBIT)	8,989	9,089	8,034	8,095	3,124	7,262	7,560	7,324	7,108	8,116	7,688
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	9,701	9,626	8,574	8,703	3,099	7,448	8,061	7,913	7,691	8,596	8,198
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.91	0.77	0.77	0.73	0.98	1.10	1.14	1.12	1.23	1.15	1.29
Price to Tangible Book Value (P/TBV)	1.22	1.03	1.02	0.96	1.33	1.49	1.54	1.50	1.65	1.54	1.72
Price to Revenue (P/Rev)	2.63	2.21	2.17	2.07	2.62	2.98	3.11	3.09	3.29	3.07	3.41
Price to Earnings (P/E)	9.60	8.00	7.72	7.23	10.38	12.54	13.37	13.87	13.14	12.04	13.40
Dividend Yield	2.76%	3.22%	3.22%	3.42%	2.82%	2.54%	2.46%	2.50%	2.29%	2.44%	2.20%
Earnings Yield	10.42%	12.50%	12.96%	13.83%	9.63%	7.97%	7.48%	7.21%	7.61%	8.30%	7.46%
Enterprise Value to Invested Capital (EV/IC)	0.08	0.00	0.00	0.00	0.00	0.09	0.07	0.10	0.18	0.12	0.22
Enterprise Value to Revenue (EV/Rev)	0.50	0.00	0.00	0.00	0.00	0.61	0.50	0.67	1.12	0.72	1.48
Enterprise Value to EBITDA (EV/EBITDA)	1.36	0.00	0.00	0.00	0.00	2.14	1.80	2.48	3.66	2.30	4.79
Enterprise Value to EBIT (EV/EBIT)	1.54	0.00	0.00	0.00	0.00	2.25	1.88	2.61	3.89	2.47	5.13
Enterprise Value to NOPAT (EV/NOPAT)	1.73	0.00	0.00	0.00	0.00	2.38	2.00	2.79	4.19	2.67	5.53
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	1.46	1.04	0.00	0.00	16.31	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	1.88	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.69	1.33	9.95
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.11	1.22	1.15	1.15	1.15	1.28	1.31	1.28	1.11	1.17	1.35
Long-Term Debt to Equity	1.01	1.01	1.01	1.01	1.04	1.01	1.02	1.00	0.96	1.03	1.05
Financial Leverage	1.12	1.26	1.21	1.21	1.13	1.25	1.25	1.22	1.13	1.22	1.35
Leverage Ratio	11.45	11.76	11.29	11.19	11.03	11.27	11.10	11.10	10.97	11.24	11.33
Compound Leverage Factor	10.06	11.76	11.29	11.19	11.03	11.27	11.10	11.10	10.97	11.24	11.33
Debt to Total Capital	52.58%	54.85%	53.59%	53.52%	53.41%	56.13%	56.64%	56.07%	52.50%	53.90%	57.36%
Short-Term Debt to Total Capital	4.67%	9.11%	6.72%	6.51%	5.13%	11.85%	12.43%	12.08%	6.97%	6.47%	12.75%
Long-Term Debt to Total Capital	47.90%	45.74%	46.87%	47.01%	48.28%	44.28%	44.20%	43.99%	45.53%	47.43%	44.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	4.54%	4.24%	3.92%	3.64%	3.72%	3.20%	3.34%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	47.42%	45.15%	46.41%	46.48%	42.06%	39.62%	39.44%	40.29%	43.78%	42.90%	39.30%
Debt to EBITDA	8.65	8.77	8.17	8.29	11.14	13.50	14.06	14.27	10.50	10.71	12.44
Net Debt to EBITDA	-5.77	-8.90	-8.26	-8.48	-9.59	-9.41	-10.36	-9.91	-7.86	-8.17	-6.94
Long-Term Debt to EBITDA	7.88	7.31	7.15	7.28	10.07	10.65	10.97	11.20	9.10	9.43	9.67
Debt to NOPAT	11.00	11.89	10.98	10.84	12.61	15.01	15.66	16.03	12.04	12.41	14.36
Net Debt to NOPAT	-7.34	-12.07	-11.10	-11.09	-10.85	-10.46	-11.54	-11.14	-9.01	-9.46	-8.01
Long-Term Debt to NOPAT	10.03	9.92	9.61	9.52	11.40	11.84	12.22	12.58	10.44	10.92	11.16
Noncontrolling Interest Sharing Ratio	0.00%	4.96%	5.27%	5.23%	5.03%	4.95%	4.60%	4.21%	8.78%	8.30%	8.43%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	4,957	1,910	8,125	29	-46,693	-41,887	-72,813	-50,495	10,384	35,393	-5,366
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.48	0.13	0.45	0.00	-2.15	-1.88	-3.15	-2.15	0.48	1.80	-0.27
Operating Cash Flow to Interest Expense	2.98	-0.80	0.65	0.61	1.51	-0.70	0.78	-1.58	1.20	-0.11	-0.45
Operating Cash Flow Less CapEx to Interest Expense	2.98	-0.80	0.65	0.61	1.51	-0.70	0.78	-1.58	1.20	-0.11	-0.45
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03
Fixed Asset Turnover	8.50	8.70	8.85	8.82	8.44	8.31	8.33	8.26	8.48	8.60	8.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	576,111	620,633	610,409	617,619	625,948	669,194	690,119	675,010	622,229	641,197	702,601
Invested Capital Turnover	0.17	0.16	0.16	0.16	0.16	0.15	0.15	0.15	0.16	0.16	0.15
Increase / (Decrease) in Invested Capital	2,175	6,251	-717	7,773	49,837	48,561	79,710	57,391	-3,719	-27,997	12,482
Enterprise Value (EV)	47,587	-128,970	-112,693	-129,243	-1,131	59,538	49,051	65,882	113,742	74,232	155,125
Market Capitalization	249,709	216,526	217,992	209,172	258,213	292,855	305,365	304,276	335,108	317,343	356,408
Book Value per Share	$34.05	$35.01	$35.55	$36.13	$33.26	$33.28	$34.19	$35.05	$35.50	$36.17	$36.66
Tangible Book Value per Share	$25.45	$26.38	$26.89	$27.44	$24.54	$24.61	$25.36	$26.15	$26.51	$27.10	$27.49
Total Capital	576,111	620,633	610,409	617,619	625,948	669,194	677,783	675,010	622,229	641,197	702,601
Total Debt	302,914	340,437	327,090	330,555	334,302	375,642	383,891	378,498	326,670	345,616	403,002
Total Long-Term Debt	275,982	283,873	286,073	290,359	302,204	296,346	299,611	296,927	283,279	304,146	313,418
Net Debt	-202,122	-345,496	-330,685	-338,415	-287,741	-261,714	-282,862	-262,948	-244,525	-263,610	-224,778
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	302,914	340,437	327,090	330,555	334,302	375,642	396,227	378,498	326,670	345,616	403,002
Total Depreciation and Amortization (D&A)	712	537	540	608	-25	186	501	589	583	480	510
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.86	$0.95	$0.88	$0.91	$0.36	$0.77	$0.83	$0.82	$0.83	$0.91	$0.90
Adjusted Weighted Average Basic Shares Outstanding	8.11B	8.07B	8.04B	8.02B	8.03B	7.97B	7.90B	7.82B	7.86B	7.68B	7.58B
Adjusted Diluted Earnings per Share	$0.85	$0.94	$0.88	$0.90	$0.36	$0.76	$0.83	$0.81	$0.81	$0.90	$0.89
Adjusted Weighted Average Diluted Shares Outstanding	8.17B	8.18B	8.08B	8.08B	8.08B	8.03B	7.96B	7.90B	7.94B	7.77B	7.65B
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.00B	7.97B	7.95B	7.91B	7.87B	7.82B	7.76B	7.67B	7.60B	7.53B	7.41B
Normalized Net Operating Profit after Tax (NOPAT)	7,132	8,161	7,408	7,802	2,187	6,674	6,897	6,896	6,665	7,396	7,116
Normalized NOPAT Margin	29.07%	31.08%	29.40%	31.00%	9.96%	25.85%	27.18%	27.21%	26.30%	27.03%	26.89%
Pre Tax Income Margin	32.19%	34.61%	31.88%	32.17%	14.23%	28.13%	29.79%	28.90%	28.04%	29.66%	29.05%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.86	0.64	0.44	0.42	0.14	0.33	0.33	0.31	0.33	0.41	0.38
NOPAT to Interest Expense	0.69	0.57	0.41	0.41	0.15	0.30	0.30	0.29	0.31	0.38	0.35
EBIT Less CapEx to Interest Expense	0.86	0.64	0.44	0.42	0.14	0.33	0.33	0.31	0.33	0.41	0.38
NOPAT Less CapEx to Interest Expense	0.69	0.57	0.41	0.41	0.15	0.30	0.30	0.29	0.31	0.38	0.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	31.15%	30.42%	29.55%	29.37%	34.27%	36.97%	38.26%	40.07%	35.03%	34.24%	33.91%
Augmented Payout Ratio	49.58%	46.62%	43.70%	44.99%	51.53%	56.40%	70.26%	84.03%	83.32%	88.54%	94.08%

Financials Breakdown Chart

Key Financial Trends

Bank of America (NYSE: BAC) has demonstrated consistent financial performance over the past several years through Q2 2025. Here's an analysis of key trends from its income statements, balance sheets, and cash flow statements:

Net Income Growth: Consolidated net income has generally increased from approximately $3.14 billion in Q4 2023 to $7.12 billion in Q2 2025, reflecting improving profitability.
Steady Earnings Per Share (EPS): Diluted EPS rose from $0.36 in Q4 2023 to $0.89 in Q2 2025, showing enhancement in shareholder value.
Increasing Total Revenue: Total revenue showed growth from $21.96 billion in Q4 2023 to approximately $26.46 billion by Q2 2025, driven by both interest and non-interest income.
Strong Net Interest Income: Net interest income remained healthy, around $13.96 billion in Q4 2023 and rising to $14.67 billion in Q2 2025, underpinning core banking operations.
Deposit Growth: Interest-bearing and non-interest-bearing deposits increased, with total liabilities reflecting growth in deposits, supporting balance sheet strength.
Asset Growth: Total assets rose from about $3.18 trillion at end 2023 to $3.44 trillion by Q2 2025, indicating expanding business and lending activities.
Loan Portfolio Expansion: Net loans and leases increased from around $1.04 trillion in Q4 2023 to $1.13 trillion in Q2 2025, suggesting growth in lending.
Provision for Credit Losses Fluctuations: Provisions varied but remained above $1.1 billion per quarter, reflecting cautious credit risk management in changing economic conditions.
Capital Return Activities: Active repurchase of common equity and payment of dividends indicate a shareholder-friendly capital allocation strategy, though repurchases may reduce liquidity.
Negative Operating Cash Flow in Recent Quarters: Notably, Q1 and Q2 2025 saw negative net cash from operating activities (-$2.18B and -$9.13B respectively), which could indicate changes in working capital or other operational challenges that require monitoring.

Summary: Bank of America has shown solid earnings growth and expanding asset and loan base over recent years, supported by rising net interest income and total revenue. The consistent EPS improvement is a positive for shareholders. Deposit growth and a strong balance sheet support ongoing business activities. While provisions for credit losses remain elevated, the bank appears to be managing credit risk prudently. Some concerns arise from recent negative operating cash flow, which merits attention to ensure operational efficiency remains intact. Overall, Bank of America continues to strengthen its financial fundamentals with trends favoring continued stability and potential growth.

09/19/25 03:22 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Bank of America's Financials

When does Bank of America's fiscal year end?

According to the most recent income statement we have on file, Bank of America's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Bank of America's net income changed over the last 10 years?

Bank of America's net income appears to be on an upward trend, with a most recent value of $27.13 billion in 2024, rising from $5.52 billion in 2014. The previous period was $26.52 billion in 2023. View Bank of America's forecast to see where analysts expect Bank of America to go next.

How has Bank of America's revenue changed over the last 10 years?

Over the last 10 years, Bank of America's total revenue changed from $85.89 billion in 2014 to $101.89 billion in 2024, a change of 18.6%.

How much debt does Bank of America have?

Bank of America's total liabilities were at $2.97 trillion at the end of 2024, a 2.7% increase from 2023, and a 59.4% increase since 2014.

How much cash does Bank of America have?

In the past 10 years, Bank of America's cash and equivalents has ranged from $26.00 billion in 2024 to $36.43 billion in 2020, and is currently $26.00 billion as of their latest financial filing in 2024.

How has Bank of America's book value per share changed over the last 10 years?

Over the last 10 years, Bank of America's book value per share changed from 21.32 in 2014 to 35.50 in 2024, a change of 66.6%.

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This page (NYSE:BAC) was last updated on 9/19/2025 by MarketBeat.com Staff

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Bank of America (BAC) Financials

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