At a glance
Bank of America Corp is worth $342.04B, about 13 times its fiscal 2025 earnings. Revenue grew 6.8% to $113.10B in fiscal 2025, with 27.0% kept as profit. It pays a 3.15% dividend yield, raised every year for at least 9 years, and returned $114.10B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −4.6% over the past year with dividends reinvested and +3.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 47.8% in the 2020 crash (S&P 500: 33.7%) and 38.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 25 months after the lows.
The business in plain English
Bank of America is one of the world's largest financial institutions. It serves individual consumers, small and mid-sized businesses, institutional investors, large corporations and governments with banking, investing, asset management and risk management products. It is a bank holding company, a parent that owns banks, based in Charlotte, North Carolina. It employed about 213,000 people as of December 31, 2025.
It earns money in two main ways. Net interest income is the gap between the interest it collects on loans and investments and the interest it pays on deposits and borrowings. In fiscal 2025 (the year ended December 31, 2025), net interest income was $60.1 billion, a little over half of $113.1 billion in revenue. Noninterest income, such as fees and commissions, supplied the other $53.0 billion. Net income was $30.5 billion. That was a 10.1% return on equity, which measures profit against the money shareholders have in the business. As of September 30, 2026, the bank held $2.04 trillion in deposits and $1.24 trillion in loans.
The company reports four business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets. Remaining operations sit in All Other. The U.S. supplied 86.4% of fiscal 2025 revenue. Europe, the Middle East and Africa added 6.7%, Asia 5.3%, and Latin America and the Caribbean 1.6%.
Price history
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BAC -4.6% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| U.S. | $97.69B | 86.4% |
| Europe, Middle East and Africa | $7.56B | 6.7% |
| Asia | $6.00B | 5.3% |
| Latin America and the Caribbean | $1.84B | 1.6% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $29.96B, up 3.2% from a year earlier, and net income was $6.93B (-16.8%).
- For fiscal 2025, revenue was $113.10B (+6.8% year over year) with a 27% net margin.
Financial health check
| Return on equity | 10.1% watch |
|---|---|
| Net income / revenue | 27% good |
| Deposits | $2.04T |
| Loans | $1.24T |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $85.53B | $17.89B | — |
| FY2021 | $89.11B | $31.98B | — |
| FY2022 | $94.95B | $27.53B | — |
| FY2023 | $102.77B | $26.30B | — |
| FY2024 | $105.86B | $26.97B | — |
| FY2025 | $113.10B | $30.51B | — |
Valuation snapshot
| Market value | $342.04B |
|---|---|
| P/E ratio | 13 |
| Dividend yield | 3.15% |
Rank among 1514 US companies
Market value at each year end
Bank of America’s market value went from $223.32B at the end of 2016 to $342.04B on Nov 2, 2026, up 53%; since the end of 2025 it is down 15%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $342.04B | -14.8% |
| 2025 | $401.64B | +19.1% |
| 2024 | $337.22B | +26.6% |
| 2023 | $266.46B | +0.3% |
| 2022 | $265.70B | -27.0% |
| 2021 | $364.11B | +38.9% |
| 2020 | $262.21B | -17.2% |
| 2019 | $316.81B | +31.0% |
| 2018 | $241.82B | -21.5% |
| 2017 | $307.91B | +37.9% |
| 2016 | $223.32B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BAC price data to Nov 2, 2026 | -7.8% | -4.6% | +24.8% | +3.3% | +14.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -7.8% |
| 2025 | +28.0% |
| 2024 | +33.9% |
| 2023 | +4.8% |
| 2022 | -23.8% |
| 2021 | +49.6% |
| 2020 | -11.6% |
| 2019 | +46.2% |
| 2018 | -15.0% |
| 2017 | +35.7% |
| 2016 | +33.4% |
| 2015 | -4.8% |
| 2014 | +15.7% |
| 2013 | +34.5% |
| 2012 | +109.8% |
| 2011 | -58.1% |
| 2010 | -11.2% |
| 2009 | +7.5% |
| 2008 | -61.2% |
| 2007 | -18.9% |
| 2006 | +20.7% |
| 2005 | +2.4% |
| 2004 | +21.5% |
| 2003 | +20.1% |
| 2002 | +14.5% |
| 2001 | +42.7% |
| 2000 | -4.5% |
| 1999 | -14.0% |
| 1998 | +1.3% |
| 1997 | +27.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 91.7% over that stretch · deepest drop along the way 93.1%, back to its old high 144.8 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 47.6% over that stretch · deepest drop along the way 47.8%, back to its old high 9.8 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 34.2% over that stretch · deepest drop along the way 38.7%, back to its old high 25 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (6 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
ETFs with the most weight in BAC
| KBWB Invesco KBW Bank ETF | 7.83% |
| FTXO First Trust Nasdaq Bank ETF | 7.68% |
| XAIX Xtrackers Artificial Intelligence and Big Data ETF | 4.62% |
| IYG iShares U.S. Financial Services ETF | 4.35% |
| QVMT Invesco S&P 500 Concentrated QVM ETF | 4.29% |
| IYF iShares U.S. Financials ETF | 4.28% |
| PVAL Putnam Focused Large Cap Value ETF | 3.89% |
| VFH Vanguard Financials ETF | 3.8% |
What could go wrong
- Lower interest rates could shrink lending income. Net interest income, $60.1 billion or over half of fiscal 2025 revenue, depends on interest rates. The company says Federal Reserve cuts would typically lower it, while volatile rates can mean more borrowers fall behind.
- Loan losses if the economy or housing weakens. With $1.24 trillion in loans as of September 30, 2026, a recession, a weak U.S. housing market or concentrated lending could force bigger provisions for credit losses, money set aside for bad loans.
- Deposit outflows or higher funding costs. The bank held $2.04 trillion in deposits as of September 30, 2026. Sustained withdrawals, a credit rating downgrade or trouble raising money could raise borrowing costs and strain liquidity, its access to ready cash.
- Holding company depends on subsidiaries for cash. The parent company relies on its bank and other subsidiaries for cash, and those transfers can be restricted. In a resolution, an orderly wind-down of a failing firm, dividends could suffer.
- Heavy regulation favors depositors over shareholders. Federal bank regulation mainly protects depositors and the deposit insurance fund. Agencies may demand more capital (a cushion against losses) and liquidity, and lawsuits or government actions can cause significant financial and reputational harm.
- Cyberattacks and system failures. A breach or outage at the bank, its outside vendors or the wider financial system could disrupt service, cause losses and bring legal or reputational damage.
Recent events
- Change to shareholder rights; Bylaws or fiscal year changed; Other company announcement
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
For income and retirement investors
Bank of America's dividend per share rose each year from fiscal 2016 to fiscal 2025. That is at least 9 straight increases, and the streak may be longer. The dividend grew from $0.72 a share in fiscal 2020 to $1.08 in fiscal 2025, about 8.4% a year. It used 31.3% of fiscal 2025 earnings. The yield was 3.12% as of October 30, 2026. Buybacks are larger than dividends: $69.3 billion over fiscal 2021–2025, versus $44.8 billion in dividends. They helped cut the share count 14.5% between February 2022 and October 2026.
The shares have fallen sharply in past downturns. In the 2008 financial crisis, the price fell 93.1% from its October 2007 peak. It did not regain that level until April 2021. It dropped 47.8% in the 2020 COVID crash and recovered in about 10 months. In the 2022 bear market it fell 38.7% and took 25 months to recover. A single stock carries more risk than a diversified fund that spreads money across many companies.
Questions investors ask
How does Bank of America make money?
It earns money from interest on loans and investments, and from fees and other services. In fiscal 2025, net interest income (interest earned minus interest paid on deposits and borrowings) was $60.1 billion of its $113.1 billion in revenue. Noninterest income, such as fees and commissions, added $53.0 billion. The company runs four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets. The U.S. supplied 86.4% of fiscal 2025 revenue.
Does Bank of America raise its dividend every year?
Yes, with at least 9 straight annual increases. Its dividend per share rose each year from fiscal 2016 to fiscal 2025, and the streak may be longer. It went from $0.72 in fiscal 2020 to $1.08 in fiscal 2025, about 8.4% growth a year. The fiscal 2025 dividend used 31.3% of earnings. Past raises don't guarantee future ones. The company warns that its ability to pay dividends depends on cash from its subsidiaries, and those transfers can be restricted.
What is Bank of America's dividend yield and P/E ratio?
As of October 30, 2026, the dividend yield was 3.12% and the price-to-earnings (P/E) ratio was 13.1. The yield is yearly dividends as a share of the stock price. The P/E compares the price with fiscal 2025 diluted earnings of $3.81 per share, so investors were paying about $13 for each $1 of annual profit. Both figures move with the share price, which had fallen 6.9% in 2026 through October 30.
Does Bank of America buy back its own stock?
Yes, heavily. It spent $21.4 billion on buybacks in fiscal 2025 and $69.3 billion over fiscal 2021–2025, more than the $44.8 billion it paid in dividends. Shares outstanding fell 14.5%, from about 8.07 billion on February 18, 2022 to about 6.90 billion on October 29, 2026. Fewer shares mean each one claims a larger slice of profits. But buybacks swing more than dividends: they dropped to $4.6 billion in fiscal 2023.
How much did Bank of America stock drop in the 2008 financial crisis?
It fell 93.1% from peak to low. The share price peaked on October 9, 2007, bottomed on March 6, 2009, and did not regain that peak until April 1, 2021. Calendar 2008 alone brought a 61.2% loss. Later drops were smaller but still steep. It fell 47.8% in the 2020 COVID crash and recovered in about 10 months. In the 2022 bear market it fell 38.7% and took 25 months to recover.