Bank of America Financials

BAC

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Neutral

4/9

Bank of America passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

-0.32x

For every $1 of reported earnings, Bank of America generates $-0.32 in operating cash flow (-$8.8B OCF vs $27.1B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

This page shows Bank of America (BAC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$101.9B

YoY+3.4%

5Y CAGR+2.2%

10Y CAGR+1.7%

Bank of America generated $101.9B in revenue in fiscal year 2024. This represents an increase of 3.4% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$27.1B

YoY+2.3%

5Y CAGR-0.2%

10Y CAGR+17.3%

Bank of America reported $27.1B in net income in fiscal year 2024. This represents an increase of 2.3% from the prior year.

EPS (Diluted)

$3.21

YoY+4.2%

5Y CAGR+3.1%

10Y CAGR+22.6%

Bank of America earned $3.21 per diluted share (EPS) in fiscal year 2024. This represents an increase of 4.2% from the prior year.

Cash & Debt

$290.1B

YoY-12.9%

5Y CAGR+12.4%

10Y CAGR+7.7%

Bank of America held $290.1B in cash against $283.3B in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.00

YoY+8.7%

5Y CAGR+8.7%

10Y CAGR+23.6%

Bank of America paid $1.00 per share in dividends in fiscal year 2024. This represents an increase of 8.7% from the prior year.

Shares Outstanding

7.61B

YoY-3.6%

5Y CAGR-2.9%

10Y CAGR-3.2%

Bank of America had 7.61B shares outstanding in fiscal year 2024. This represents a decrease of 3.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

26.6%

YoY-0.3pp

5Y CAGR-3.4pp

10Y CAGR+20.2pp

Bank of America's net profit margin was 26.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.3 percentage points from the prior year.

Return on Equity

9.2%

YoY+0.1pp

5Y CAGR-1.2pp

10Y CAGR+6.9pp

Bank of America's ROE was 9.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$13.1B

YoY+186.4%

5Y CAGR-14.2%

10Y CAGR+22.8%

Bank of America spent $13.1B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 186.4% from the prior year.

Capital Expenditures

N/A

BAC Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$101.9B+3.4%	$98.6B+3.8%	$95.0B+6.6%	$89.1B+4.2%	$85.5B-6.3%	$91.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$90.5B+23.5%	$73.3B+264.8%	$20.1B+324.3%	$4.7B-42.4%	$8.2B-63.2%	$22.3B
Income Tax	$2.1B+16.1%	$1.8B-46.9%	$3.4B+72.2%	$2.0B+81.5%	$1.1B-79.3%	$5.3B
Net Income	$27.1B+2.3%	$26.5B-3.7%	$27.5B-13.9%	$32.0B+78.7%	$17.9B-34.8%	$27.4B
EPS (Diluted)	$3.21+4.2%	$3.08-3.4%	$3.19-10.6%	$3.57+90.9%	$1.87-32.0%	$2.75

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$28.1B+6.1%	$26.5B-3.3%	$27.4B+8.0%	$25.3B-0.1%	$25.4B-1.7%	$25.8B+17.6%	$22.0B-12.7%	$25.2B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$20.1B-0.3%	$20.2B+3.0%	$19.6B-9.2%	$21.6B-6.6%	$23.2B+4.0%	$22.3B+2.6%	$21.7B+12.7%	$19.2B
Income Tax	$987.0M+72.6%	$572.0M-20.6%	$720.0M+62.5%	$443.0M-33.2%	$663.0M+12.8%	$588.0M+3040.0%	-$20.0M-106.8%	$293.0M
Net Income	$8.5B+19.0%	$7.1B-3.8%	$7.4B+11.0%	$6.7B-3.4%	$6.9B+3.3%	$6.7B+112.3%	$3.1B-59.7%	$7.8B
EPS (Diluted)	$1.06+19.1%	$0.89-1.1%	$0.90+11.1%	$0.81-2.4%	$0.83+9.2%	$0.76+111.1%	$0.36-60.0%	$0.90

BAC Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.3T+2.6%	$3.2T+4.2%	$3.1T-3.7%	$3.2T+12.4%	$2.8T+15.8%	$2.4T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$290.1B-12.9%	$333.1B+44.7%	$230.2B-33.9%	$348.2B-8.5%	$380.5B+135.5%	$161.6B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$69.0B0.0%	$69.0B0.0%	$69.0B0.0%	$69.0B+0.1%	$69.0B0.0%	$69.0B
Total Liabilities	$3.0T+2.7%	$2.9T+4.0%	$2.8T-4.2%	$2.9T+13.9%	$2.5T+17.4%	$2.2T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$283.3B-6.3%	$302.2B+9.5%	$276.0B-1.5%	$280.1B+6.5%	$262.9B+9.2%	$240.9B
Total Equity	$295.6B+1.3%	$291.6B+6.8%	$273.2B+1.2%	$270.1B-1.0%	$272.9B+3.1%	$264.8B
Retained Earnings	$242.3B+7.9%	$224.7B+8.5%	$207.0B+10.1%	$188.1B+14.6%	$164.1B+5.0%	$156.3B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$3.4T-1.1%	$3.4T+2.7%	$3.3T+2.7%	$3.3T+0.1%	$3.3T-0.5%	$3.3T+2.9%	$3.2T+0.9%	$3.2T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$246.5B-7.3%	$266.0B-2.8%	$273.6B-5.7%	$290.1B-9.5%	$320.6B+2.3%	$313.4B-5.9%	$333.1B-5.3%	$351.7B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$69.0B0.0%	$69.0B0.0%	$69.0B0.0%	$69.0B0.0%	$69.0B0.0%	$69.0B0.0%	$69.0B0.0%	$69.0B
Total Liabilities	$3.1T-1.3%	$3.1T+2.9%	$3.1T+3.0%	$3.0T+0.1%	$3.0T-0.5%	$3.0T+3.2%	$2.9T+0.8%	$2.9T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$311.5B-0.6%	$313.4B+3.0%	$304.1B+7.4%	$283.3B-2.5%	$290.5B-2.0%	$296.3B-1.9%	$302.2B+4.1%	$290.4B
Total Equity	$304.2B+1.5%	$299.6B+1.4%	$295.6B0.0%	$295.6B+0.6%	$293.9B+0.1%	$293.6B+0.7%	$291.6B+1.6%	$287.1B
Retained Earnings	$258.1B+2.4%	$252.2B+2.0%	$247.3B+2.0%	$242.3B+3.7%	$233.6B+2.1%	$228.9B+1.9%	$224.7B+0.4%	$223.7B

BAC Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$8.8B-119.6%	$45.0B+811.0%	-$6.3B+12.0%	-$7.2B-118.9%	$38.0B-38.5%	$61.8B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$90.7B-156.3%	-$35.4B-1299.2%	-$2.5B+99.2%	-$313.3B-76.3%	-$177.7B-120.3%	-$80.6B
Financing Cash Flow	$60.4B-35.3%	$93.3B+188.0%	-$106.0B-136.4%	$291.6B-18.0%	$355.8B+10436.5%	$3.4B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$13.1B+186.4%	$4.6B-9.8%	$5.1B-79.8%	$25.1B+257.7%	$7.0B-75.0%	$28.1B

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$46.9B+613.3%	-$9.1B-318.1%	-$2.2B-108.4%	$25.9B+43.2%	$18.1B+216.5%	-$15.5B-147.5%	$32.7B+178.0%	$11.8B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.9B+103.4%	-$56.9B+36.1%	-$89.0B-1045.9%	$9.4B+717.9%	-$1.5B+97.9%	-$71.3B-11.1%	-$64.2B-7.1%	-$59.9B
Financing Cash Flow	-$68.0B-223.5%	$55.1B-24.4%	$72.8B+298.1%	-$36.8B-343.0%	-$8.3B-112.1%	$68.7B+508.1%	$11.3B-59.1%	$27.6B
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$5.3B0.0%	$5.3B+17.3%	$4.5B+27.9%	$3.5B0.0%	$3.5B+41.4%	$2.5B+208.3%	$811.0M-18.9%	$1.0B

BAC Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	26.6%-0.3pp	26.9%-2.1pp	29.0%-6.9pp	35.9%+15.0pp	20.9%-9.1pp	30.1%
Return on Equity	9.2%+0.1pp	9.1%-1.0pp	10.1%-1.8pp	11.8%+5.3pp	6.6%-3.8pp	10.4%
Return on Assets	0.8%0.0pp	0.8%-0.1pp	0.9%-0.1pp	1.0%+0.4pp	0.6%-0.5pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.96-0.1	1.04+0.0	1.01-0.0	1.04+0.1	0.96+0.1	0.91
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	30.1%+3.3pp	26.9%-0.1pp	27.0%+0.7pp	26.3%-0.9pp	27.2%+1.3pp	25.9%+11.5pp	14.3%-16.7pp	31.0%
Return on Equity	2.8%+0.4pp	2.4%-0.1pp	2.5%+0.2pp	2.3%-0.1pp	2.4%+0.1pp	2.3%+1.2pp	1.1%-1.6pp	2.7%
Return on Assets	0.3%+0.0pp	0.2%-0.0pp	0.2%+0.0pp	0.2%0.0pp	0.2%0.0pp	0.2%+0.1pp	0.1%-0.1pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.02-0.0	1.05+0.0	1.03+0.1	0.96-0.0	0.99-0.0	1.01-0.0	1.04+0.0	1.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Bank of America's annual revenue?

Bank of America (BAC) reported $101.9B in total revenue for fiscal year 2024. This represents a 3.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Bank of America's revenue growing?

Bank of America (BAC) revenue grew by 3.4% year-over-year, from $98.6B to $101.9B in fiscal year 2024.

Is Bank of America profitable?

Yes, Bank of America (BAC) reported a net income of $27.1B in fiscal year 2024, with a net profit margin of 26.6%.

What is Bank of America's earnings per share (EPS)?

Bank of America (BAC) reported diluted earnings per share of $3.21 for fiscal year 2024. This represents a 4.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Bank of America have?

As of fiscal year 2024, Bank of America (BAC) had $290.1B in cash and equivalents against $283.3B in long-term debt.

What is Bank of America's net profit margin?

Bank of America (BAC) had a net profit margin of 26.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Bank of America pay dividends?

Yes, Bank of America (BAC) paid $1.00 per share in dividends during fiscal year 2024.

What is Bank of America's return on equity (ROE)?

Bank of America (BAC) has a return on equity of 9.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Bank of America's operating cash flow?

Bank of America (BAC) generated -$8.8B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Bank of America's total assets?

Bank of America (BAC) had $3.3T in total assets as of fiscal year 2024, including both current and long-term assets.

Does Bank of America buy back shares?

Yes, Bank of America (BAC) spent $13.1B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Bank of America have outstanding?

Bank of America (BAC) had 7.61B shares outstanding as of fiscal year 2024.

What is Bank of America's debt-to-equity ratio?

Bank of America (BAC) had a debt-to-equity ratio of 0.96 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bank of America's return on assets (ROA)?

Bank of America (BAC) had a return on assets of 0.8% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Bank of America's cash runway?

Based on fiscal year 2024 data, Bank of America (BAC) had $290.1B in cash against an annual operating cash burn of $8.8B. This gives an estimated cash runway of approximately 395 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Bank of America's Piotroski F-Score?

Bank of America (BAC) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bank of America's earnings high quality?

Bank of America (BAC) has an earnings quality ratio of -0.32x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.