Bank of America
BAC NYSE Diversified Banks Financials FY2016–FY2025
Bank of America's revenue rose 6.8% to $113.1 billion in fiscal 2025. Net income was $30.5 billion, up 13.1%. Its return on equity was 10.2%, up from 9.2% a year earlier. Its efficiency ratio was 61.6%, down from 63.1% a year earlier. It paid out $31.0 billion in dividends and buybacks. The diluted share count fell 3.2%.
What Bank of America does
Bank of America is a bank based in Charlotte, North Carolina, that serves individuals, small and midsize businesses, large companies, investors and governments. It offers checking and savings accounts, credit cards, mortgages and other loans, investment and wealth management services, and investment banking and trading. It had $3.4 trillion in assets at the end of 2025.
It reports four segments. Consumer Banking serves about 69 million consumer and small business clients through about 3,600 branches, about 15,000 ATMs, call centers and its apps and website. Global Wealth & Investment Management, made up of Merrill Wealth Management and Bank of America Private Bank, oversees client balances of $4.8 trillion. Global Banking lends to companies, manages their cash and payments, and advises them on deals and on raising money. Global Markets trades stocks, bonds, currencies and commodities for institutional investors and provides research. The bank earns interest on loans and investments, and fees for cards, advice, trading and money management. It names as competitors other banks, credit unions, brokers, investment and insurance firms, card issuers, hedge funds, private equity firms and internet-based companies.
Bank of America had about 213,000 employees at the end of 2025, 77 percent of them in the United States. It operates in all major US markets and in more than 35 other countries and jurisdictions.
- Legal name
- BofA Finance LLC
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 25, 2026
- Accession · CIK
- 0000070858-26-000157
0000070858
Revenue and margins
Bank of America had $113.1B of revenue in fiscal 2025, up 6.8% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew 11.0% a year. Loss periods are shown in red.
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
Dividends, buybacks and share count
Bank of America returned $31.0B to shareholders in fiscal 2025. The diluted share count fell 3.2%.
Value Bank of America yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Earnings multiple
Value per share
—
Reference multiples: today 11.6x · peers 13.9x · sector 13.7x.
Balance sheet
Loans, deposits and capital at each fiscal year end.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Loans, net | $966.7B | $1.03T | $1.04T | $1.08T | $1.17T |
| Deposits | $2.06T | $1.93T | $1.92T | $1.97T | $2.02T |
| Loans / deposits | 46.8% | 53.5% | 54.1% | 55.1% | 58.1% |
| Total assets | $3.17T | $3.05T | $3.18T | $3.26T | $3.41T |
| Shareholders' equity | $270.1B | $273.2B | $290.2B | $294.0B | $303.2B |
| Goodwill | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B |
| Intangible assets | $2.2B | $2.1B | $2.0B | $2.0B | $1.8B |
| Provision / loans | — | 0.3% | 0.5% | 0.6% | 0.5% |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$31.1M
7 insiders
Of sales under plans
0%
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 5, 2026 | Geoffrey S GreenerChief Risk Officer | Sold | 126,756 | $53.01 | $6.7M | Form 4 |
| Mar 12, 2026 | Bernard A MensahPresident, International | Sold | 94,000 | $46.94 | $4.4M | Form 4 |
| Mar 5, 2026 | Sheri B. BronsteinChief People Officer | Sold | 60,000 | $49.91 | $3.0M | Form 4 |
| Mar 5, 2026 | Thomas M ScrivenerChief Operations Executive | Sold | 50,000 | $49.82 | $2.5M | Form 4 |
| Mar 4, 2026 | James P DeMareCo-President | Sold | 83,832 | $50.00 | $4.2M | Form 4 |
| Mar 3, 2026 | Dean C AthanasiaCo-President | Sold | 136,558 | $50.21 | $6.9M | Form 4 |
| Feb 27, 2026 | Alastair M BorthwickExecutive Vice President & CFO | Sold | 68,000 | $50.24 | $3.4M | Form 4 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Bank of America BAC | $388.3B | 6.8% | — | — | — | 11.7x | — | |
| JPMorgan Chase JPM | $922.3B | 2.8% | — | — | — | 14.2x | — | Compare → |
| Citigroup C | $225.9B | 5.6% | — | — | — | 17.3x | — | Compare → |
| Wells Fargo WFC | $267.1B | 1.7% | — | — | — | 12.0x | — | Compare → |
| Goldman Sachs GS | $278.1B | 8.9% | — | — | — | 13.5x | — | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $83.7B | $87.1B | $91.0B | $91.2B | $85.5B | $89.1B | $95.0B | $102.8B | $105.9B | $113.1B |
| Net interest income | $41.1B | $45.2B | $48.2B | $48.9B | $43.4B | $42.9B | $52.5B | $56.9B | $56.1B | $60.1B |
| Noninterest income | $42.6B | $41.9B | $42.9B | $42.4B | $42.2B | $46.2B | $42.5B | $45.8B | $49.8B | $53.0B |
| Noninterest expense | $55.1B | $54.5B | $53.2B | $54.9B | $55.2B | $59.7B | $61.4B | $65.8B | $66.8B | $69.7B |
| Provision for credit losses | $3.6B | $3.4B | $3.3B | $3.6B | $10.6B | −$4.2B | $2.5B | $4.7B | $5.9B | $5.6B |
| Pretax income | $25.0B | $29.2B | $34.6B | $32.8B | $19.0B | $34.0B | $31.0B | $32.5B | $33.2B | $37.7B |
| Income tax | $7.2B | $11.0B | $6.4B | $5.3B | $1.1B | $2.0B | $3.4B | $6.2B | $6.3B | $7.2B |
| Net income | $17.8B | $18.2B | $28.1B | $27.4B | $17.9B | $32.0B | $27.5B | $26.3B | $27.0B | $30.5B |
| Net income to common | $16.1B | $16.6B | $26.7B | $26.0B | $16.5B | $30.6B | $26.0B | $24.7B | $25.3B | $29.1B |
| Diluted EPS | $1.49 | $1.56 | $2.61 | $2.75 | $1.87 | $3.57 | $3.19 | $3.05 | $3.19 | $3.81 |
| Diluted shares | 11.05B | 10.78B | 10.24B | 9.44B | 8.80B | 8.56B | 8.17B | 8.08B | 7.94B | 7.68B |
| Cash flow | ||||||||||
| Stock-based compensation | $1.4B | $1.6B | $1.7B | $2.0B | $2.0B | $2.8B | $2.9B | $2.9B | $3.4B | $4.0B |
| Share buybacks | $5.1B | $12.8B | $20.1B | $28.1B | $7.0B | $25.1B | $5.1B | $4.6B | $13.1B | $21.4B |
| Dividends paid | $4.2B | $5.7B | $6.9B | $5.9B | $7.7B | $8.1B | $8.6B | $9.1B | $9.5B | $9.6B |
| Dividends and buybacks | $9.3B | $18.5B | $27.0B | $34.1B | $14.8B | $33.2B | $13.6B | $13.7B | $22.6B | $31.0B |
| Balance sheet | ||||||||||
| Loans, net | $895.4B | $926.4B | $937.3B | $974.0B | — | $966.7B | $1.03T | $1.04T | $1.08T | $1.17T |
| Deposits | $1.26T | $1.31T | $1.38T | $1.43T | $1.80T | $2.06T | $1.93T | $1.92T | $1.97T | $2.02T |
| Goodwill | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B | $69.0B |
| Intangible assets | $0.0M | $0.0M | $0.0M | $0.0M | $2.2B | $2.2B | $2.1B | $2.0B | $2.0B | $1.8B |
| Total assets | $2.19T | $2.28T | $2.35T | $2.43T | $2.82T | $3.17T | $3.05T | $3.18T | $3.26T | $3.41T |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $266.2B | $267.1B | $265.3B | $264.8B | $272.9B | $270.1B | $273.2B | $290.2B | $294.0B | $303.2B |
| Margins | ||||||||||
| Net margin | 21.3% | 20.9% | 30.9% | 30.1% | 20.9% | 35.9% | 29.0% | 25.6% | 25.5% | 27.0% |
| Net interest share of revenue | 49.1% | 51.9% | 52.9% | 53.6% | 50.7% | 48.2% | 55.3% | 55.4% | 53.0% | 53.1% |
| Efficiency ratio | 65.8% | 62.6% | 58.4% | 60.2% | 64.6% | 67.0% | 64.7% | 64.1% | 63.1% | 61.7% |
| Returns | ||||||||||
| Return on equity | 6.8% | 6.8% | 10.6% | 10.4% | 6.7% | 11.8% | 10.1% | 9.3% | 9.2% | 10.2% |
| Return on assets | 0.8% | 0.8% | 1.2% | 1.2% | 0.7% | 1.1% | 0.9% | 0.8% | 0.8% | 0.9% |
| Return on tangible equity | 8.4% | 8.4% | 13.5% | 13.3% | 8.3% | 15.3% | 13.0% | 11.7% | 11.5% | 12.8% |
| Growth | ||||||||||
| Revenue growth | 0.9% | 4.1% | 4.5% | 0.3% | −6.3% | 4.2% | 6.6% | 8.2% | 3.0% | 6.8% |
| Net income growth | 12.0% | 2.3% | 54.4% | −2.6% | −34.8% | 78.7% | −13.9% | −4.4% | 2.5% | 13.1% |
| EPS growth | 13.7% | 4.7% | 67.3% | 5.4% | −32.0% | 90.9% | −10.6% | −4.4% | 4.6% | 19.4% |
| Share count change | −1.7% | −2.4% | −5.0% | −7.8% | −6.8% | −2.7% | −4.6% | −1.1% | −1.8% | −3.2% |
| Financial health | ||||||||||
| Loans / deposits | 71.0% | 70.7% | 67.9% | 67.9% | — | 46.8% | 53.5% | 54.1% | 55.1% | 58.1% |
| Provision / loans | 0.4% | 0.4% | 0.4% | 0.4% | — | — | 0.3% | 0.5% | 0.6% | 0.5% |
| Capital allocation | ||||||||||
| Stock comp / revenue | 1.6% | 1.9% | 1.9% | 2.2% | 2.4% | 3.1% | 3.0% | 2.9% | 3.2% | 3.5% |
Source: SEC EDGAR XBRL filings (CIK 0000070858). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.