Loading…
One of the largest US banks, offering consumer banking, wealth management (Merrill) and investment banking.
One of the largest US banks, offering consumer banking, wealth management (Merrill) and investment banking.
Earns from the spread between what it pays on deposits and charges on loans and cards, with fees from Merrill wealth advice, trading, investment banking and payments. Its consumer deposit base across the US is unusually large and cheap to fund, and Berkshire Hathaway has long been a large shareholder.
Moat: wide (scale, brand, distribution). Massive branch/digital banking network plus Merrill wealth management scale are hard for smaller banks to replicate.
Headquarters: Charlotte, North Carolina, US · Founded: 1904 · Employees: 213,000
Size Bank of America (BAC) is a United States Financials company (Major Banks) with a market value of $341B, the 32nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $49.42 on 6 Nov 2026.
Performance Over six months the shares fell 3.2%, against +14.1% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 0.6% over the last twelve months (peer median +4.7%); the operating margin is 34.5% (peer median 44.8%).
Valuation It trades at 1.26× book value against a peer median of 1.41× (10th cheapest of 21).
Price implies The share price implies a return on equity of about 12.9%; Bank of America delivers 10.7%, so the price asks more than the business earns today.
Credit Bank of America has 123 bonds outstanding ($233B), rated A- by the agencies and trading like BBB+ at a weighted spread of 92 bp.
Short interest Short interest is 1.3% of the free float (15 Oct 2026).
Next results Next results expected around 15 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $195B | $194B | $196B | $175B | $118B |
| Revenue growth | — | -1% | +12% | +48% | — |
| Net income | $32.2B | $30.5B | $27.0B | $26.5B | $27.5B |
| Free cash flow | $51.0B | $43.4B | $41.0B | -$50.0M | $82.7B |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $708B | $720B | $668B | $628B | $509B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Bank of America BAC | $341B | -3% | -1% | 11% | 1.26× | 12.9% |
| JPMorgan Chase JPM | $889B | +11% | +9% | 18% | 2.53× | 20.7% |
| Wells Fargo WFC | $252B | +11% | +6% | 13% | 1.59× | 13.3% |
| Citigroup C | $200B | -5% | +5% | 9% | 1.03× | 10.9% |
| Morgan Stanley MS | $285B | -6% | +16% | 18% | 2.66× | 24.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BAC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.8% | +2.6% | 3rd lowest of 21 |
| 6-month return | -3.2% | +14.1% | 2nd lowest of 21 |
| Return on equity | 10.7% | 12.8% | 8th lowest of 21 |
| Price / book | 1.26× | 1.41× | 10th cheapest of 21 |
| Trailing P/E | 11.8× | 11.4× | 9th most expensive of 21 |
| ROE the price implies | 12.9% | 11.1% | 10th most demanding of 21 |
| ROE delivered | 10.7% | 13.1% | 5th lowest of 18 |
| Bond spread | 92 bp | 82 bp | 6th widest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Bank of America BAC | United States | $341B | -3% | -1% | 11% | 1.26× | 12.9% | 10.7% |
| China Construction Bank 601939.SS | China | $358B | +20% | -5% | 10% | 0.87× | 3.0% | 9.8% |
| CCB 0939.HK | Hong Kong | $361B | +22% | +6% | 10% | 0.64× | 5.1% | 9.9% |
| Agricultural Bank of China 601288.SS | China | $375B | +5% | -4% | 11% | 0.88× | 3.0% | n/a |
| Bank Of China 3988.HK | Hong Kong | $309B | +22% | +5% | 9% | 0.60× | 4.7% | 8.9% |
| HSBC HSBA.L | United Kingdom | $301B | -1% | -4% | 14% | 1.51× | 17.5% | 13.6% |
| Royal Bank of Canada RY.TO | Canada | $281B | +15% | +5% | 16% | 2.94× | 18.4% | 16.2% |
| Industrial and Commercial Bank of China 601398.SS | China | $428B | +13% | -4% | 10% | 0.75× | 2.7% | n/a |
| ICBC 1398.HK | Hong Kong | $433B | +14% | -5% | 9% | 0.60× | 4.9% | n/a |
| Wells Fargo WFC | United States | $252B | +11% | +6% | 13% | 1.59× | 13.3% | 12.9% |
| Mitsubishi Ufj Financial 8306.T | Japan | $230B | +14% | +11% | 13% | 1.60× | 11.2% | 12.6% |
| Toronto-Dominion Bank TD.TO | Canada | $208B | +18% | -11% | 13% | 2.48× | 15.3% | 12.8% |
| Citigroup C | United States | $200B | -5% | +5% | 9% | 1.03× | 10.9% | 9.1% |
| Commonwealth Bank of Australia CBA.AX | Australia | $194B | +9% | +1% | 14% | 3.56× | 33.3% | 13.9% |
| Banco Santander SAN.MC | Spain | $174B | +4% | +15% | 13% | 1.40× | 17.1% | 13.1% |
| Cm Bank 3968.HK | Hong Kong | $165B | +16% | +3% | 13% | 0.99× | 10.2% | 13.3% |
| China Merchants Bank 600036.SS | China | $164B | +12% | +9% | 14% | 0.94× | 5.4% | 13.6% |
| DBS D05.SI | Singapore | $155B | +19% | -5% | 16% | 2.83× | 21.4% | 16.3% |
| Sumitomo Mitsui Financial 8316.T | Japan | $145B | +35% | +11% | 11% | 1.42× | 10.0% | 11.2% |
| Banco Bilbao Vizcaya Argentaria BBVA.MC | Spain | $140B | +20% | +9% | 20% | 2.15× | 24.8% | 19.6% |
| JPMorgan Chase JPM | United States | $889B | +11% | +9% | 18% | 2.53× | 20.7% | 17.9% |
Bank of America has 123 bonds outstanding with $233B face value. The agencies rate it A-; its bonds trade like BBB+. Weighted yield 5.63%, a spread of 92 bp over government bonds.