BANK OF AMERICA CORP /DE/ financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data BANK OF AMERICA CORP /DE/ files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	83,701	87,126	91,020	91,244	85,528	89,113	94,950	102,769	105,856	113,097
Selling and marketing	1,703	1,746	1,674	1,934	1,701	1,939	1,825	1,927	1,956	2,204
Interest expense	9,961	12,340	18,607	22,345	8,225	4,738	20,103	73,331
Interest income		4,023	6,247	6,305	2,735	2,334	7,438	25,460	28,320	20,421
Pre-tax income	25,021	29,213	34,584	32,754	18,995	33,976	30,969	32,530	33,223	37,695
Income tax	7,199	10,981	6,437	5,324	1,101	1,998	3,441	6,225	6,250	7,186
Net income	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,305	26,973	30,509
EPS, basic	1.57	1.63	2.64	2.77	1.88	3.60	3.21	3.07	3.23	3.86
EPS, diluted	1.49	1.56	2.61	2.75	1.87	3.57	3.19	3.05	3.19	3.81
Shares, basic (weighted)	10,284	10,196	10,097	9,391	8,753	8,493	8,114	8,029	7,856	7,522
Shares, diluted (weighted)	11,047	10,778	10,237	9,443	8,797	8,558	8,168	8,081	7,936	7,681
Dividend per share	0.25	0.39	0.54	0.66	0.72	0.78	0.86	0.92	1.00	1.08

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	147,738	157,434	177,404	161,560	380,463	348,221	230,203	333,073	290,114	231,845
Property, plant and equipment	9,139	9,247	9,906	10,561	11,000	10,833	11,510	11,855	12,168	12,516
Lease right-of-use assets				9,735	10,000	10,233	9,755	9,150	8,527	8,395
Goodwill	68,969	68,951	68,951	68,951	68,951	69,022	69,022	69,021	69,021	69,021
Intangible assets	2,922	2,312	1,800	1,700	2,200	2,200	2,100	2,000	2,000	1,800
Total assets	2,188,067	2,281,234	2,354,507	2,434,079	2,819,627	3,169,495	3,051,375	3,180,151	3,261,299	3,411,738
Short-term debt							9,900	13,100	24,200	20,400
Total liabilities	1,921,872	2,014,088	2,089,182	2,169,269	2,546,703	2,899,429	2,778,178	2,888,505	2,967,336	3,108,495
Total debt	216,823	227,402	229,392	240,856	262,934	280,117	275,982	302,204	283,279	317,816
Paid-in capital	147,038	138,089	118,896	91,723	85,982	62,398	58,953	56,365	45,336	26,084
Retained earnings	101,225	113,816	136,314	156,319	164,088	188,064	207,003	224,672	240,753	261,693
Other comprehensive income	-7,288	-7,082	-12,211	-6,633	-1,656	-5,104	-21,156	-17,788	-15,285	-10,526
Shareholders' equity	266,195	267,146	265,325	264,810	272,924	270,066	273,197	290,209	293,963	303,243
Total equity	266,195	267,146	265,325	264,810	272,924	270,066	273,197	290,209	293,963	303,243
Total liabilities and equity	2,188,067	2,281,234	2,354,507	2,434,079	2,819,627	3,169,495	3,051,375	3,180,151	3,261,299	3,411,738
Shares outstanding	10,053	10,287	9,669	8,836	8,651	8,078	7,997	7,895	7,611	7,212

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	17,822	18,232	28,147	27,430	17,894	31,978	27,528	26,305	26,973	30,509
Depreciation and amortization		2,103	2,063	1,729	1,843	1,898	1,978	2,057	2,189	2,314
Stock-based compensation	1,367	1,649	1,729	1,974	2,031	2,768	2,862	2,942	3,433	4,001
Deferred income tax	5,793	8,175	3,041	2,435	-1,737	-838	739	-1,012	-1,127	295
Cash from operations	17,277	9,864	39,520	61,777	37,993	-7,193	-6,327	44,982	-8,805	12,613
Cash from investing	-62,285	-51,541	-71,468	-80,630	-177,665	-313,291	-2,529	-35,387	-90,693	-145,157
Debt issued	35,537	53,486	64,278	52,420	57,013	76,675	65,910	65,396	56,683	99,867
Debt repaid	-51,623	-49,480	-53,046	-50,794	-47,948	-46,826	-34,055	-44,571	-70,411	-76,031
Share buybacks	-5,112	-12,814	-20,094	-28,144	-7,025	-25,126	-5,073	-4,576	-13,104	-21,433
Dividends paid	-4,194	-5,700	-6,895	-5,934	-7,727	-8,055	-8,576	-9,087	-9,503	-9,563
Cash from financing	33,153	49,268	53,118	3,377	355,819	291,650	-106,039	93,345	60,369	69,948
Exchange rate effect		2,105	-1,200	-368	2,756	-3,408	-3,123	-70	-3,830	4,327
Net change in cash	-11,615	9,696	19,970	-15,844	218,903	-32,242	-118,018	102,870	-42,959	-58,269
Interest paid	10,510	12,852	19,087	22,196	8,662	4,506	18,526	69,604	89,687	79,065
Income taxes paid	1,043	3,235	2,470	4,359	2,894	2,760	2,288	3,405	3,822	3,930

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $56.70 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	36.8%	Pre-tax income / revenue.
Net margin	28.2%	Net income / revenue.
Operating cash flow margin	79.5%	Cash from operations / revenue.
Effective tax rate	23.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	11.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.0%	Net income / average total assets.
Stock-based pay / revenue	3.5%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	2.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	13.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	3.5%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	11.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	19.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	6.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	15.3%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-19.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	8.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.9%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	8.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	3.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	3.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	4.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	3.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-2.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	1.13x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	9.7%	Total debt / total assets.
Liabilities / assets	91.4%	Total liabilities / total assets.
Net debt	$110.12B	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	2.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$230.27B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.03x	Revenue / average total assets.
Fixed asset turnover	9.32x	Revenue / average property, plant and equipment.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.61	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$16.35	Revenue / diluted weighted shares.
Operating cash flow per share	$12.99	Cash from operations / diluted weighted shares.
Book value per share	$42.90	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$32.81	Tangible book value / shares outstanding.
Cash per share	$32.74	(Cash + short-term investments) / shares outstanding.
Payout ratio	29.0%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$396.49B	Share price x shares outstanding.
Enterprise value	$506.61B	Market cap + total debt - cash - short-term investments.
P/E	11.8x	Market cap / net income. Only when net income is positive.
P/S	3.33x	Market cap / revenue.
P/B	1.32x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.72x	Market cap / tangible book value, when positive.
P/OCF	4.18x	Market cap / cash from operations, when positive.
EV/Sales	4.25x	Enterprise value / revenue.
Earnings yield	8.5%	Net income / market cap (the inverse of P/E).
Dividend yield	2.5%	Dividends paid over the period / market cap.
Shareholder yield	8.7%	(Dividends paid + share buybacks) / market cap.
PEG	1.93x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was BANK OF AMERICA CORP /DE/'s revenue in fiscal 2025?

BANK OF AMERICA CORP /DE/ reported revenue of $113.10B for fiscal 2025, 6.8% higher than the year before.

Was BANK OF AMERICA CORP /DE/ profitable in fiscal 2025?

Yes. Net income was $30.51B, a net margin of 27%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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