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Bank of America Corporation, through its subsidiaries, provides various financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, checking accounts, and investment accounts and products; credit and debit cards; residential mortgages and home equity loans; and direct and indirect loans. The GWIM segment provides investment management, brokerage, banking, and trust and retirement products and services; wealth management solutions; and customized solutions, including specialty asset management services. The Global Banking segment offers lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, and underwriting and advisory services. The Global Markets segment provides market-making, financing, securities clearing, settlement, and custody services; securities and derivative products; and risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1784 and is based in Charlotte, North Carolina.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $113.1B | - | $30.5B | $12.6B | 11.0% | 6.8% | 13.1% |
| 2024 | $105.9B | - | $27.0B | $-8.8B | 10.0% | 3.0% | 2.5% |
| 2023 | $102.8B | - | $26.3B | $45.0B | 10.0% | 8.2% | -4.4% |
| 2022 | $95.0B | - | $27.5B | $-6.3B | 11.2% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 94,950 | 102,769 | 105,856 | 113,097 |
| Operating Revenue | - | 94,950 | 102,769 | 105,856 | 113,097 |
| Selling General And Administration | - | 45,946 | 49,815 | 49,623 | 52,246 |
| Interest Income | - | 72,565 | 130,262 | 146,607 | 138,566 |
| Interest Expense | - | 20,103 | 73,331 | 90,547 | 78,470 |
| Net Interest Income | - | 52,462 | 56,931 | 56,060 | 60,096 |
| Pretax Income | - | 30,969 | 32,530 | 33,223 | 37,695 |
| Tax Provision | - | 3,441 | 6,225 | 6,250 | 7,186 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 27,528 | 26,305 | 26,973 | 30,509 |
| Net Income From Continuing And Discontinued Operation | - | 27,528 | 26,305 | 26,973 | 30,509 |
| Net Income From Continuing Operation Net Minority Interest | - | 27,528 | 26,305 | 26,973 | 30,509 |
| Net Income | - | 27,528 | 26,305 | 26,973 | 30,509 |
| Net Income Common Stockholders | - | 26,015 | 24,656 | 25,344 | 29,055 |
| Net Income Including Noncontrolling Interests | - | 27,528 | 26,305 | 26,973 | 30,509 |
| Normalized Income | - | 27,528 | 26,305 | 26,973 | 30,509 |
| Diluted NI Availto Com Stockholders | - | 26,015 | 24,656 | 25,344 | 29,055 |
| Basic Average Shares | - | 8,113.70 | 8,028.60 | 7,855.50 | 7,521.90 |
| Diluted Average Shares | - | 8,167.50 | 8,080.50 | 7,935.80 | 7,680.90 |
| Reconciled Depreciation | - | 1,978 | 2,057 | 2,189 | 2,314 |
| Total Unusual Items | - | - | -2,100 | - | - |
| Total Unusual Items Excluding Goodwill | - | - | -2,100 | - | - |
| Preferred Stock Dividends | - | 1,513 | 1,649 | 1,629 | 1,454 |
| Special Income Charges | - | - | -2,100 | - | - |
| Other Special Charges | - | - | 2,100 | - | - |
| Gain On Sale Of Security | - | 0 | 0 | 0 | 0 |
| General And Administrative Expense | - | 40,468 | 44,280 | 44,173 | 46,118 |
| Other Gand A | - | 4,021 | 5,950 | 3,991 | 3,772 |
| Salaries And Wages | - | 36,447 | 38,330 | 40,182 | 42,346 |
| Selling And Marketing Expense | - | 5,478 | 5,535 | 5,450 | 6,128 |
| Otherunder Preferred Stock Dividend | 1,421 | 1,513 | - | - | - |
| Occupancy And Equipment | - | 7,071 | 7,164 | 7,289 | 7,448 |
| Professional Expense And Contract Services Expense | - | 2,142 | 2,159 | 2,669 | 2,580 |
| Other Non Interest Expense | - | 6,279 | 6,707 | 7,231 | 7,453 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Bank of America Corporationthis co. | BAC | $384.4B | 12.60↓ discount | 1.39 | 11.0% | - |
| Visa Inc. | V | $608.9B | 30.67 | 16.06 | 52.4% | 23.65 |
| Mastercard Incorporated | MA | $425.7B | 28.44 | 55.02 | 193.5% | 21.22 |
| Morgan Stanley | MS | $344.3B | 20.42 | 3.38 | 16.5% | - |
| The Goldman Sachs Group, Inc. | GS | $322.3B |
| - |
| - |
| - |
| - |
| - |
| - |
| 19.77 |
| 2.58 |
| 13.0% |
| - |
| Wells Fargo & Company | WFC | $249.8B | 11.71 | 1.52 | 13.0% | - |
| Citigroup Inc. | C | $230.5B | 17.70 | 1.09 | 6.1% | - |
| American Express Company | AXP | $213.2B | 19.68 | 6.37 | 32.4% | - |
| BlackRock, Inc. | BLK | $166.5B | 29.99 | 2.98 | 9.9% | 18.17 |
| Peer Median | - | 20.10 | 3.18 | 14.8% | 21.22 | |