Valuation, from the filing
| Public float | $351.90B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $49.03 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 11.5× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 3.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.2× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
11.5× earnings today, against a median of 10.5× across 10 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $351.90B | 11.5× | |
| 2024-06-30 | $309.20B | 11.5× | |
| 2023-06-30 | $228.19B | 8.7× | |
| 2022-06-30 | $250.14B | 9.1× | |
| 2021-06-30 | $349.93B | 10.9× | |
| 2020-06-30 | $205.77B | 11.5× | |
| 2019-06-30 | $270.94B | 9.9× | |
| 2018-06-30 | $282.26B | 10.0× | |
| 2017-06-30 | $239.64B | 13.1× | |
| 2016-06-30 | $135.58B | 7.6× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the National Commercial Banks filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 1.05x | 92th | |
| Net margin | 27.0% | 28th | |
| Effective tax rate | 19.1% | 37th | |
| Revenue YoY growth | 6.8% | 50th | |
| SBC / revenue | 3.5% | 50th |
BANK OF AMERICA CORP /DE/ (BAC) reported revenue of $29.96B and net income of $6.93B for the fiscal year ended 2026-09-30. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from BANK OF AMERICA CORP /DE/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under National Commercial Banks.
Banks, brokers and insurers present a top line that is not comparable with an operating company’s revenue: it is reported net of interest expense, or as premiums earned, depending on the filer. The figures are the filer’s own and are traceable to the filing; the comparison across classes is what does not hold.
Income
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $29.96B | $31.56B | $30.27B | $28.37B | $29.04B | $27.44B | $28.25B | $29.32B | $25.34B | $25.38B |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $6.93B | $9.07B | $8.58B | $7.65B | $8.33B | $7.17B | $7.36B | $6.51B | $6.90B | $6.90B |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 7.22B | shares 7.29B | shares 7.42B | Unavailable | shares 7.63B | shares 7.65B | shares 7.77B | Unavailable | shares 7.90B | shares 7.96B |
| Pretax income | $8.97B | $11.56B | $10.40B | $9.62B | $10.41B | $8.67B | $9.00B | $11.08B | $7.32B | $7.56B |
| Income tax expense | $2.03B | $2.49B | $1.82B | $1.98B | $2.08B | $1.50B | $1.64B | $4.57B | $428.00M | $663.00M |
| Diluted EPS | $0.91 | $1.21 | $1.11 | Unavailable | $1.04 | $0.90 | $0.89 | Unavailable | $0.81 | $0.83 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total assets | $3.43T | $3.50T | $3.50T | $3.41T | $3.40T | $3.44T | $3.35T | $3.26T | $3.32T | $3.26T |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $3.13T | $3.20T | $3.20T | $3.11T | $3.10T | $3.14T | $3.05T | $2.97T | $3.03T | $2.96T |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $296.75B | $301.09B | $300.67B | $303.24B | $302.44B | $298.02B | $293.95B | $293.96B | $296.51B | $293.89B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | $69.02B | $69.02B | $69.02B | $69.02B | $69.02B | $69.02B | $69.02B | $69.02B | $69.02B | $69.02B |
| Long-term debt | $318.69B | $339.86B | $325.96B | $317.82B | $311.48B | $313.42B | $304.15B | $283.28B | $296.93B | $290.47B |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$6.50B | $29.04B | $41.77B | -$22.94B | $46.87B | -$9.13B | -$2.18B | $25.91B | -$37.28B | $18.10B |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | $47.65B | -$16.76B | -$66.45B | -$1.17B | $1.94B | -$56.92B | -$89.01B | $9.41B | -$27.26B | -$1.52B |
| Financing cash flow | -$21.50B | -$24.73B | $35.92B | $10.05B | -$67.99B | $55.06B | $72.83B | -$36.77B | $36.78B | -$8.30B |
| Net change in cash | $19.90B | -$12.73B | $10.63B | -$14.66B | -$19.50B | -$7.57B | -$16.54B | -$5.48B | -$25.04B | $7.23B |
| Stock-based compensation | $1.04B | $1.12B | $1.03B | $969.00M | $1.02B | $1.02B | $999.00M | $891.00M | $832.00M | $845.00M |
| Common dividends paid | $2.62B | $2.33B | $2.63B | $2.36B | $2.45B | $2.20B | $2.55B | $2.28B | $2.49B | $2.22B |
| Common share repurchases | $6.00B | $6.01B | $7.24B | $6.31B | $5.30B | $5.30B | $4.52B | $3.54B | $3.53B | $3.54B |
| Depreciation & amortization | $630.00M | $612.00M | $605.00M | $594.00M | $584.00M | $571.00M | $565.00M | $559.00M | $549.00M | $543.00M |
Derived
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | 3.5% | 3.5% | 3.4% | 3.4% | 3.5% | 3.7% | 3.5% | 3.0% | 3.3% | 3.3% |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | 3.2% | 15.0% | 7.2% | -3.2% | 14.6% | 8.1% | 9.4% | 12.1% | 0.7% | 0.7% |
| Net margin | 23.1% | 28.8% | 28.4% | 27.0% | 28.7% | 26.1% | 26.1% | 22.2% | 27.2% | 27.2% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 1.07x | Unavailable | Unavailable | 1.05x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 22.7% | 21.5% | 17.5% | 20.5% | 19.9% | 17.3% | 18.2% | 41.3% | 5.8% | 8.8% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open BAC in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.