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Arphra AIPlain-English read on Bank of America Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $93.85B | $115.05B | $171.91B | $192.43B | $191.57B | $120.98B | $126.95B | $132.97B | $133.4B |
| Cost of revenue | $144M | $22.65B | $77.73B | $96.37B | $84.15B | $56.27B | $59.18B | $62.08B | $60.12B |
| Gross profit | $93.71B | $92.41B | $94.19B | $96.07B | $107.42B | $65.6B | $68.68B | $72.63B | $71.77B |
| Gross margin | +99.85% | +80.32% | +54.79% | +49.92% | +56.08% | +54.22% | +54.10% | +54.62% | +53.80% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $45.05B | $45.95B | $47.72B | $49.62B | $52.25B | $32.99B | $33.38B | $35.81B | $34.91B |
| Total operating expenses | $59.73B | $61.44B | $65.85B | $66.81B | $69.73B | $45.31B | $46.55B | $48.34B | $48.97B |
| Operating income | $33.98B | $30.97B | $28.34B | $29.25B | $37.7B | $20.63B | $21.28B | $23.14B | $23.08B |
| Operating margin | +36.20% | +26.92% | +16.49% | +15.20% | +19.68% | +17.06% | +16.77% | +17.40% | +17.30% |
| EBITDA | $35.87B | $32.95B | $30.4B | $31.44B | $40.01B | $21.5B | $22.81B | $24.11B | $25.07B |
| EBIT | $33.98B | $30.97B | $28.34B | $29.25B | $37.7B | $20.73B | $21.22B | $22.88B | $22.72B |
| Below the line | |||||||||
| Interest expense | $4.74B | $20.1B | $73.33B | $90.55B | $78.47B | $51.95B | $55.96B | $59.64B | $59.36B |
| Interest income | $47.67B | $72.57B | $130.26B | $146.61B | $138.57B | $88.03B | $93.63B | $98.82B | $97.15B |
| Other income / expense | $0 | $0 | $0 | $0 | $0 | — | — | — | — |
| Pre-tax income | $33.98B | $30.97B | $28.34B | $29.25B | $37.7B | $21.31B | $21.2B | $22.43B | $22.6B |
| Income tax expense | $2B | $3.44B | $1.83B | $2.12B | $7.19B | $2.21B | $2.31B | $2.43B | $2.46B |
| Earnings | |||||||||
| Net income | $31.98B | $27.53B | $26.52B | $27.13B | $30.51B | $18.57B | $19.39B | $20.56B | $19.72B |
| Net income · continuing ops | $31.98B | $27.53B | $26.52B | $27.13B | $30.51B | $18.52B | $19.55B | $20.28B | $20.58B |
| Net margin | +34.07% | +23.93% | +15.42% | +14.10% | +15.93% | +15.35% | +15.27% | +15.46% | +14.79% |
| EPS · basic | $3.60 | $3.21 | $3.10 | $3.25 | $3.88 | $4.57 | $5.17 | $5.79 | $6.90 |
| EPS · diluted | $3.57 | $3.19 | $3.08 | $3.22 | $3.82 | $4.46 | $5.06 | $5.79 | $6.82 |
| EPS · low estimate | — | — | — | — | — | $4.39 | $4.77 | $5.49 | $6.75 |
| EPS · high estimate | — | — | — | — | — | $4.51 | $5.26 | $6.10 | $6.94 |
| Shares · basic | 8.49B | 8.11B | 8.03B | 7.74B | 7.36B | 7.38B | 7.31B | 7.34B | 7.33B |
| Shares · diluted | 8.56B | 8.17B | 8.08B | 7.84B | 7.55B | 7.48B | 7.59B | 7.57B | 7.6B |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 10 | 3 | 2 |
| Analysts (EPS) | — | — | — | — | — | 15 | 14 | 7 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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