Explain this page
Arphra AIPlain-English read on Bank of America Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $340.1B | $405.07B | — | — | — | — |
| Enterprise value | — | — | — | $702.04B | $539.13B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 3.65 | 2.81 | — | — | — | — |
| EV / FCF | — | — | — | -79.73 | 42.74 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +7.98% | +7.53% | — | — | — | — |
| Free cash flow yield | — | — | — | -2.59% | +3.11% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +99.85% | +80.32% | +54.79% | +49.92% | +56.08% | +54.22% | +54.10% | +54.62% | +53.80% |
| Operating margin | +36.20% | +26.92% | +16.49% | +15.20% | +19.68% | +17.06% | +16.77% | +17.40% | +17.30% |
| EBITDA margin | +38.22% | +28.64% | +17.68% | +16.34% | +20.89% | +17.77% | +17.97% | +18.13% | +18.79% |
| EBIT margin | +36.20% | +26.92% | +16.49% | +15.20% | +19.68% | +17.14% | +16.71% | +17.20% | +17.03% |
| Pre-tax margin | +36.20% | +26.92% | +16.49% | +15.20% | +19.68% | +17.61% | +16.70% | +16.87% | +16.94% |
| Net margin | +34.07% | +23.93% | +15.42% | +14.10% | +15.93% | +15.35% | +15.27% | +15.46% | +14.79% |
| Cost structure | |||||||||
| Cost of revenue / sales | +0.15% | +19.68% | +45.21% | +50.08% | +43.92% | +46.51% | +46.61% | +46.69% | +45.07% |
| R&D intensity | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| SG&A intensity | +48.00% | +39.93% | +27.76% | +25.79% | +27.27% | +27.27% | +26.29% | +26.93% | +26.17% |
| Effective tax rate | +5.88% | +11.11% | +6.45% | +7.25% | +19.06% | +10.35% | +10.90% | +10.85% | +10.89% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +11.84% | +10.08% | +9.09% | +9.18% | +10.06% | +9.36% | +9.33% | +9.78% | +9.48% |
| Return on assets (ROA) | +1.01% | +0.90% | +0.83% | +0.83% | +0.89% | +0.86% | +0.84% | +0.88% | +0.84% |
| Return on capital (ROC) | +4.43% | +4.01% | +3.12% | +3.07% | +5.63% | +3.73% | +3.66% | +3.80% | +3.74% |
| Return on invested capital (ROIC) | +4.17% | +3.57% | +2.91% | +2.84% | +4.56% | +3.36% | +3.34% | +3.37% | +3.20% |
| Asset turnover | +2.96% | +3.77% | +5.41% | +5.90% | +5.62% | +5.60% | +5.47% | +5.71% | +5.71% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +34.07% | +23.93% | +15.42% | +14.10% | +15.93% | +15.35% | +15.27% | +15.46% | +14.79% |
| Asset turnover (× revenue / assets) | +2.96% | +3.77% | +5.41% | +5.90% | +5.62% | +5.60% | +5.47% | +5.71% | +5.71% |
| Equity multiplier (× assets / equity) | +1173.60% | +1116.91% | +1090.41% | +1103.51% | +1124.64% | +1088.81% | +1116.65% | +1107.74% | +1123.65% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.03 | 0.04 | 0.05 | 0.06 | 0.06 | 0.06 | 0.05 | 0.06 | 0.06 |
| Fixed-asset turnover | 8.66 | 10.00 | 14.50 | 15.81 | 15.31 | — | — | — | — |
| Inventory turnover | — | — | — | — | — | — | — | — | — |
| Receivables turnover | 1.08 | 1.42 | 1.78 | 1.97 | 1.85 | — | — | — | — |
| Payables turnover | — | — | — | — | — | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 338.43 | 257.40 | 205.31 | 185.73 | 196.92 | — | — | — | — |
| Days inventory outstanding (DIO) | — | — | — | — | — | — | — | — | — |
| Days payables outstanding (DPO) | — | — | — | — | — | — | — | — | — |
| Cash conversion cycle | 338.43 | 257.40 | 205.31 | 185.73 | 196.92 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | -0.22 | -0.23 | 1.70 | -0.32 | 0.41 | 0.61 | 0.61 | 0.61 | 0.64 |
| FCF / Net income | -0.22 | -0.23 | 1.70 | -0.32 | 0.41 | 0.61 | 0.60 | 0.62 | 0.65 |
| FCF margin | -7.66% | -5.50% | +26.17% | -4.58% | +6.58% | +9.41% | +9.14% | +9.52% | +9.62% |
| OCF margin | -7.66% | -5.50% | +26.17% | -4.58% | +6.58% | +9.30% | +9.34% | +9.37% | +9.47% |
| CapEx / Revenue | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| CapEx / D&A | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — |
| Stock-based comp / Revenue | +2.95% | +2.49% | +1.71% | +1.78% | +2.09% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 3.57 | 3.19 | 3.08 | 3.22 | 3.82 | 4.46 | 5.06 | 5.79 | 6.82 |
| EPS · basic | 3.60 | 3.21 | 3.10 | 3.25 | 3.88 | 4.57 | 5.17 | 5.79 | 6.90 |
| Book value / share | 31.56 | 33.45 | 36.09 | 37.68 | 40.18 | 26.52 | 27.38 | 27.77 | 27.38 |
| Tangible BV / share | 23.49 | 25.00 | 27.55 | 28.88 | 31.04 | 26.52 | 27.38 | 27.77 | 27.38 |
| Sales / share | 10.97 | 14.09 | 21.27 | 24.53 | 25.38 | 16.17 | 16.73 | 17.56 | 17.56 |
| Operating CF / share | -0.84 | -0.77 | 5.57 | -1.12 | 1.67 | 1.50 | 1.56 | 1.65 | 1.66 |
| Free cash flow / share | -0.84 | -0.77 | 5.57 | -1.12 | 1.67 | 1.52 | 1.53 | 1.67 | 1.69 |
| Dividends / share | 0.94 | 1.05 | 1.12 | 1.21 | 1.27 | 0.84 | 0.86 | 0.91 | 0.89 |
| Payout ratio | +25.19% | +31.15% | +34.27% | +35.03% | +31.34% | +33.86% | +33.48% | +33.59% | +34.16% |
| Retention ratio | +74.81% | +68.85% | +65.73% | +64.97% | +68.66% | +66.14% | +66.52% | +66.41% | +65.84% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +22.59% | +49.42% | +11.94% | -0.45% | -36.84% | +4.93% | +4.74% | +0.32% | +4.49% |
| Gross profit · YoY | — | -1.39% | +1.93% | +1.99% | +11.82% | -38.93% | +4.69% | +5.76% | -1.19% | -3.28% |
| Profit | ||||||||||
| Operating income · YoY | — | -8.85% | -8.48% | +3.22% | +28.85% | -45.26% | +3.15% | +8.73% | -0.28% | -4.72% |
| EBITDA · YoY | — | -8.16% | -7.73% | +3.43% | +27.24% | -46.27% | +6.13% | +5.68% | +3.97% | -4.38% |
| Net income · YoY | — | -13.92% | -3.68% | +2.33% | +12.45% | -39.13% | +4.41% | +6.04% | -4.07% | -5.86% |
| Operating | ||||||||||
| EBIT · YoY | — | -8.85% | -8.48% | +3.22% | +28.85% | -45.00% | +2.34% | +7.82% | -0.71% | -4.91% |
| R&D · YoY | — | — | — | — | — | — | — | — | — | — |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -10.64% | -3.45% | +4.55% | +18.63% | +16.77% | +13.37% | +14.41% | +17.88% | +8.43% |
| EPS · basic · YoY | — | -10.83% | -3.43% | +4.84% | +19.38% | +17.87% | +12.96% | +12.14% | +19.11% | +8.47% |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $496.2B | $498.55B | $618.19B | $658.43B | $365.9B | $354.66B | $373B | $399.25B | $408.33B |
| Net debt | $140.83B | $261.09B | $276.77B | $361.94B | $134.06B | $164.03B | $169.79B | $186.47B | $201.81B |
| Net debt / EBITDA | 3.93 | 7.92 | 9.10 | 11.51 | 3.35 | 7.63 | 7.44 | 7.73 | 8.05 |
| Debt / equity | 1.84 | 1.82 | 2.12 | 2.23 | 1.21 | 1.79 | 1.80 | 1.90 | 1.96 |
| Debt / assets | +15.66% | +16.34% | +19.44% | +20.19% | +10.73% | +16.41% | +16.08% | +17.14% | +17.46% |
| Equity / assets | +8.52% | +8.95% | +9.17% | +9.06% | +8.89% | +9.18% | +8.96% | +9.03% | +8.90% |
| Coverage | |||||||||
| EBITDA / interest expense | 7.57 | 1.64 | 0.41 | 0.35 | 0.51 | 0.41 | 0.41 | 0.40 | 0.42 |
| Operating income / interest | 7.17 | 1.54 | 0.39 | 0.32 | 0.48 | 0.40 | 0.38 | 0.39 | 0.39 |
| Interest expense | $4.74B | $20.1B | $73.33B | $90.55B | $78.47B | $51.95B | $55.96B | $59.64B | $59.36B |
| Liquidity | |||||||||
| Current ratio | 0.29 | 0.22 | 0.30 | 0.30 | 0.42 | — | — | — | — |
| Quick ratio | 0.29 | 0.22 | 0.30 | 0.30 | 0.42 | — | — | — | — |
| Cash ratio | 0.14 | 0.10 | 0.15 | 0.12 | 0.09 | — | — | — | — |
| Working capital | -$1.84T | -$1.92T | -$1.63T | -$1.69T | -$1.49T | — | — | — | — |
| Working capital / revenue | -1959.08% | -1665.71% | -948.50% | -879.43% | -779.11% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 2.81x | 3.65x |
| Earnings yield | 7.5% | 8.0% |
| FCF yield | 3.1% | -2.6% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 10.1% | 9.2% |
| ROA | 0.9% | 0.8% |
| ROIC | 3.4% | 2.3% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 3.35 | 11.51 |
| Interest coverage | — | — |
| Current ratio | 0.42x | 0.30x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).