Bank of America Corporation (BAC) Income Statement
BAC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBAC revenue and net income
Where BAC's revenue goes
2025Each bar shows an amount and its share of revenue. BAC kept 27.0% of revenue as net income.
BAC profit margins
BAC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +11.0% | +6.0% | +8.8% | +3.5% |
| Gross profit | +11.8% | +5.1% | +7.7% | +3.0% |
| Operating income | +28.9% | +6.8% | +14.7% | +5.4% |
| Net income | +12.4% | +3.5% | +11.3% | +6.7% |
| EPS (diluted) | +18.6% | +6.3% | +15.4% | +10.8% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BAC quarterly EPS vs estimates
Bank of America beat the analyst EPS estimate in 7 of the last 8 quarters.
BAC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $113.10B | $101.89B | $98.58B | $94.95B | $89.11B | $74.21B | $85.58B | $87.74B | $83.73B | $80.10B |
| Cost of revenue | $84.14B | $96.37B | $4.39B | $2.54B | $4.59B | $19.55B | $25.93B | $227.0M | $16.31B | $13.56B |
| Gross profit | $107.42B | $96.07B | $94.19B | $92.41B | $84.52B | $74.21B | $85.58B | $87.51B | $83.73B | $80.10B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $52.25B | $49.62B | $10.79B | $10.25B | $9.48B | $8.62B | $8.18B | $7.93B | $8.16B | $7.43B |
| Total operating expenses | $69.73B | $66.81B | $65.84B | $61.44B | $59.73B | $55.21B | $52.83B | $53.15B | $54.52B | $55.08B |
| Operating income | $37.70B | $29.25B | $28.34B | $30.97B | $33.98B | $19.00B | $32.75B | $34.58B | $29.21B | $25.02B |
| Interest income | $138.57B | $146.61B | $130.26B | $72.56B | $47.67B | $51.59B | $71.24B | $66.77B | $57.58B | $51.06B |
| Interest expense | $78.47B | $90.55B | $73.33B | $20.10B | $4.74B | $8.22B | $22.34B | $18.61B | $12.91B | $9.96B |
| Income before taxes | $37.70B | $29.25B | $28.34B | $30.97B | $33.98B | $19.00B | $32.75B | $34.58B | $29.21B | $25.02B |
| Income taxes | $7.19B | $2.12B | $1.83B | $3.44B | $2.00B | $1.10B | $5.32B | $6.44B | $10.98B | $7.20B |
| Net income | $30.51B | $27.13B | $26.52B | $27.53B | $31.98B | $17.89B | $27.43B | $28.15B | $18.23B | $17.91B |
| EBITDA | $40.01B | $31.44B | $30.37B | $32.95B | $35.87B | $20.84B | $34.48B | $36.65B | $31.32B | $25.75B |
| EPS (diluted) | $3.83 | $3.23 | $3.04 | $3.19 | $3.56 | $1.87 | $2.74 | $2.61 | $1.55 | $1.38 |
| Gross margin | 95.0% | 94.3% | 95.5% | 97.3% | 94.8% | 100.0% | 100.0% | 99.7% | 100.0% | 100.0% |
| Operating margin | 33.3% | 28.7% | 28.7% | 32.6% | 38.1% | 25.6% | 38.3% | 39.4% | 34.9% | 31.2% |
| Net margin | 27.0% | 26.6% | 26.9% | 29.0% | 35.9% | 24.1% | 32.1% | 32.1% | 21.8% | 22.4% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $47.77B | $31.56B | $30.27B | $31.18B | $28.09B | $26.46B | $27.37B | $25.35B | $25.34B | $25.38B | $25.82B | $20.86B |
| Cost of revenue | $19.08B | $19.20B | $18.95B | $19.82B | $21.43B | $21.80B | $21.10B | $23.07B | $12.62B | $12.51B | $13.58B | $22.79B |
| Gross profit | $28.69B | $30.19B | $28.93B | $29.87B | $26.79B | $24.87B | $25.89B | $23.89B | $12.73B | $12.86B | $12.23B | $20.86B |
| Research & development | — | — | $2.02B | — | — | — | — | — | — | — | — | — |
| Sales, general & admin | $17.15B | $12.90B | $14.03B | $12.96B | $13.03B | $12.89B | $13.37B | $12.34B | $11.29B | $10.70B | $2.80B | $2.69B |
| Total operating expenses | $19.48B | $18.63B | $18.53B | $17.44B | $17.34B | $17.18B | $17.77B | $16.79B | $14.76B | $5.94B | $17.24B | $17.73B |
| Operating income | $9.21B | $11.56B | $10.40B | $12.44B | $9.46B | $7.69B | $8.12B | $7.11B | $10.58B | $19.43B | $7.26B | $3.12B |
| Interest income | — | — | $33.36B | $34.26B | $35.37B | $34.87B | $34.07B | $35.98B | $37.49B | $36.85B | $36.28B | $35.63B |
| Interest expense | $17.81B | $17.84B | $17.61B | $18.51B | $20.13B | $20.20B | $19.62B | $21.62B | $23.52B | $23.15B | $22.25B | $21.68B |
| Income before taxes | $8.97B | $11.56B | $10.40B | $12.44B | $9.46B | $7.69B | $8.12B | $7.11B | $7.32B | $7.56B | $7.26B | $3.12B |
| Income taxes | $2.03B | $2.49B | $1.82B | $4.91B | $987.0M | $572.0M | $720.0M | $443.0M | $428.0M | $663.0M | $588.0M | $20.0M |
| Net income | $6.93B | $9.07B | $8.58B | $7.53B | $8.47B | $7.12B | $7.40B | $6.67B | $6.90B | $6.90B | $6.67B | $3.14B |
| EBITDA | $9.21B | $11.56B | $11.01B | $13.03B | $10.04B | $8.27B | $8.68B | $7.67B | $11.13B | $19.98B | $7.80B | $3.63B |
| EPS (diluted) | $1.08 | $1.21 | $1.11 | $0.98 | $1.06 | $0.89 | $0.90 | $0.82 | $0.81 | $0.83 | $0.77 | $0.32 |
| Gross margin | 60.1% | 95.7% | 95.6% | 95.8% | 95.4% | 94.0% | 94.6% | 94.3% | 50.2% | 50.7% | 47.4% | 100.0% |
| Operating margin | 19.3% | 36.6% | 34.4% | 39.9% | 33.7% | 29.1% | 29.7% | 28.0% | 41.8% | 76.6% | 28.1% | 15.0% |
| Net margin | 14.5% | 28.8% | 28.4% | 24.1% | 30.2% | 26.9% | 27.0% | 26.3% | 27.2% | 27.2% | 25.9% | 15.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BAC's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BAC financial results
In fiscal year 2025 (ended December 31, 2025), Bank of America reported revenue of $113.1 billion, up 11.0% from the year before. It had net income of $30.5 billion (up 12.4%), a net profit margin of 27.0%. Diluted earnings per share came to $3.83. Over five years revenue grew at an average rate of 8.8% a year.
See the BAC stock overview for the latest quote and news, or the BAC chart for price history and technical indicators.
BAC income statement FAQ
What is Bank of America's annual revenue?
Bank of America reported total revenue of $113.1 billion for fiscal year 2025, which ended on December 31, 2025. That was up 11.0% from $101.9 billion the previous year.
Is Bank of America profitable?
Yes. Bank of America reported net income of $30.5 billion in fiscal 2025, a net profit margin of 27.0%; its operating margin was 33.3%.
What is Bank of America's gross margin?
Bank of America's gross margin was 95.0% in fiscal 2025: for every $100 of revenue, Bank of America kept $95 after the direct cost of its products and services.
How fast is Bank of America growing?
Revenue grew 8.8% a year on average over the last five fiscal years, from $74.2 billion to $113.1 billion.
What are Bank of America's earnings per share?
Bank of America earned $3.83 per diluted share in fiscal 2025, compared with $3.23 a year earlier.
When does Bank of America's fiscal year end?
Bank of America's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.