Bank of America
BAC · NYSENational Commercial Banks · Fiscal year ends Dec 31
Bank of America reported revenue of $113B in the fiscal year ended Dec 2025, up 6.8% from the year before. Net income was $30.5B. Net debt was $86B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $89.1B | $95B | $103B | $106B | $113B |
| Net interest incomeBanks | $42.9B | $52.5B | $56.9B | $56.1B | $60.1B |
| Interest expense | $4.7B | $20.1B | $73.3B | – | – |
| Pre-tax income | $34B | $31B | $32.5B | $33.2B | $37.7B |
| Income tax | $2B | $3.4B | $6.2B | $6.3B | $7.2B |
| Net income | $32B | $27.5B | $26.3B | $27B | $30.5B |
| Diluted EPS | 3.57 | 3.19 | 3.05 | 3.19 | 3.81 |
| Diluted shares | 8,558M | 8,168M | 8,081M | 7,936M | 7,681M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $348B | $230B | $333B | $290B | $232B |
| Net PP&E | $10.8B | $11.5B | $11.9B | $12.2B | $12.5B |
| Goodwill | $69B | $69B | $69B | $69B | $69B |
| Total assets | $3,169B | $3,051B | $3,180B | $3,261B | $3,412B |
| Long-term debt | $280B | $276B | $302B | $283B | $318B |
| DepositsBanks | $2,064B | $1,930B | $1,924B | $1,965B | $2,019B |
| Total liabilities | $2,899B | $2,778B | $2,889B | $2,967B | $3,108B |
| Shareholders' equity | $270B | $273B | $290B | $294B | $303B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −$7.2B | −$6.3B | $45B | −$8.8B | $12.6B |
| Depreciation & amortisation | $1.9B | $2B | $2.1B | $2.2B | $2.3B |
| Stock-based compensation | $2.8B | $2.9B | $2.9B | $3.4B | $4B |
| Share buybacks | $25.1B | $5.1B | $4.6B | $13.1B | $21.4B |
| Dividend per share | 0.78 | 0.86 | 0.92 | 1.00 | 1.08 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 6.6% | 8.2% | 3.0% | 6.8% |
| EPS growth (YoY) | – | −10.6% | −4.4% | 4.6% | 19.4% |
| Net margin | 35.9% | 29.0% | 25.6% | 25.5% | 27.0% |
| Return on equityBlank when equity is negative | 11.8% | 10.1% | 9.1% | 9.2% | 10.1% |
| Cash conversion (CFO ÷ net income) | −0.22x | −0.23x | 1.71x | −0.33x | 0.41x |
| Debt ÷ equity | 1.04x | 1.01x | 1.04x | 0.96x | 1.05x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$68.1B | $45.8B | −$30.9B | −$6.8B | $86B |
Recent filings
More in National Commercial Banks
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.