Bank of America Corp
NYSE: BAC · FINANCIAL SERVICES · BANKS - DIVERSIFIED
Updated 2026-06-12
Bank of America Corp (BAC) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.39B | $62.26B | $72.24B | $109.63B | $104.96B | $86.09B | $73.56B | $83.95B | $83.62B | $79.80B | $80.10B | $83.73B | $87.74B | $85.58B | $74.21B | $89.11B | $94.95B | $98.58B | $192.43B | $191.57B |
| Revenue growth (YoY) | — | -10.3% | +16.0% | +51.8% | -4.3% | -18.0% | -14.6% | +14.1% | -0.4% | -4.6% | +0.4% | +4.5% | +4.8% | -2.5% | -13.3% | +20.1% | +6.6% | +3.8% | +95.2% | -0.5% |
| Cost of revenue | $8.73B | $9.67B | $12.78B | $22.35B | $23.39B | $35.03B | $24.91B | $16.31B | $13.21B | $13.71B | $13.56B | $16.31B | $227.00M | $25.93B | $19.55B | $4.59B | $2.54B | $4.39B | $96.37B | $84.14B |
| Gross profit | $60.66B | $52.59B | $59.47B | $87.28B | $81.57B | $86.09B | $73.56B | $83.95B | $83.62B | $79.80B | $80.10B | $83.73B | $87.51B | $85.58B | $74.21B | $84.52B | $92.41B | $94.19B | $96.07B | $107.42B |
| Gross margin | 87.4% | 84.5% | 82.3% | 79.6% | 77.7% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 99.7% | 100.0% | 100.0% | 94.8% | 97.3% | 95.5% | 49.9% | 56.1% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — | — |
| SG&A | $25.47B | $26.96B | $29.52B | $50.44B | $55.33B | $62.27B | $8.20B | $7.65B | $6.88B | $6.20B | $5.72B | $6.42B | $6.25B | $6.24B | $6.92B | $7.54B | $8.42B | $8.87B | $44.17B | $46.12B |
| Operating income | $31.97B | $20.92B | $4.43B | $4.36B | $-1.32B | $-230.00M | $2.74B | $15.82B | $8.90B | $22.19B | $25.02B | $29.21B | $34.58B | $32.75B | $19.00B | $33.98B | $30.97B | $28.34B | $29.25B | $37.70B |
| Operating margin | 46.1% | 33.6% | 6.1% | 4.0% | -1.3% | -0.3% | 3.7% | 18.8% | 10.6% | 27.8% | 31.2% | 34.9% | 39.4% | 38.3% | 25.6% | 38.1% | 32.6% | 28.7% | 15.2% | 19.7% |
| EBITDA | $34.84B | $23.77B | $6.26B | $6.34B | $408.00M | $1.28B | $4.00B | $16.91B | $9.84B | $23.02B | $25.75B | $31.32B | $36.65B | $34.48B | $20.84B | $35.87B | $32.95B | $30.37B | $31.44B | $40.01B |
| EBITDA margin | 50.2% | 38.2% | 8.7% | 5.8% | 0.4% | 1.5% | 5.4% | 20.1% | 11.8% | 28.8% | 32.1% | 37.4% | 41.8% | 40.3% | 28.1% | 40.3% | 34.7% | 30.8% | 16.3% | 20.9% |
| EBIT | $31.97B | $20.92B | $4.43B | $4.36B | $-1.32B | $-230.00M | $2.74B | $15.82B | $8.90B | $22.19B | $25.02B | $29.21B | $34.58B | $32.75B | $19.00B | $33.98B | $30.97B | $28.34B | $29.25B | $37.70B |
| Interest expense | $43.99B | $52.87B | $40.32B | $30.81B | $23.97B | $21.62B | $16.74B | $12.76B | $10.93B | $10.55B | $9.96B | $12.91B | $18.61B | $22.34B | $8.22B | $4.74B | $20.10B | $73.33B | $90.55B | $78.47B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $21.13B | $14.98B | $4.01B | $6.28B | $-2.24B | $1.45B | $2.76B | $11.43B | $4.83B | $15.89B | $17.91B | $18.23B | $28.15B | $27.43B | $17.89B | $31.98B | $27.53B | $26.52B | $27.13B | $30.51B |
| Net income growth (YoY) | — | -29.1% | -73.2% | +56.6% | -135.7% | +164.6% | +90.7% | +314.5% | -57.7% | +228.7% | +12.7% | +1.8% | +54.4% | -2.5% | -34.8% | +78.7% | -13.9% | -3.7% | +2.3% | +12.4% |
| Profit margin | 30.5% | 24.1% | 5.5% | 5.7% | -2.1% | 1.7% | 3.7% | 13.6% | 5.8% | 19.9% | 22.4% | 21.8% | 32.1% | 32.1% | 24.1% | 35.9% | 29.0% | 26.9% | 14.1% | 15.9% |
Frequently asked questions
What is Bank of America Corp's revenue?
Bank of America Corp's trailing twelve-month revenue is $109.59B, and consensus projects about $152.10B by 2030. Revenue is the top line the whole model builds on, and at this scale the question shifts from how fast it grows to whether margins hold as it compounds.
How profitable is BAC?
In its most recent fiscal year, BAC ran a gross margin of 56.08%, an operating margin of 19.68%, and a net margin of 15.93%. Margins this high mean most of each extra dollar of revenue drops through to profit, which is the signature of real pricing power.
How much free cash flow does BAC generate?
BAC produced $12.61B in free cash flow in its most recent fiscal year. Free cash flow is what is left after running and reinvesting in the business, and it is the cash that actually funds buybacks, dividends, and a stronger balance sheet.
Is BAC's balance sheet healthy?
BAC holds $231.84B in cash and equivalents against $317.82B in long-term debt, on $303.24B of shareholder equity. That debt is best read against the cash flow the business throws off each year.