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Reported Q: Q4 2024 Rev YoY: -2.3% EPS YoY: +7.8% Move: -0.30%

Bank of America

BML-PJ

$19.93 -0.30%

Exchange NYSE Sector Financial Services Industry Banks Diversified

Q4 2024

Published: Feb 25, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for BML-PJ

Reported

Report Date

Feb 25, 2025

Quarter Q4 2024

Revenue

46.97B

YoY: -2.3%

EPS

0.82

YoY: +7.8%

Market Move

-0.30%

Previous quarter: Q3 2024

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Earnings Highlights

Revenue of $46.97B down 2.3% year-over-year
EPS of $0.82 increased by 7.8% from previous year
Gross margin of 50.9%
Net income of 6.67B
""We should report record NII in 2025."" - Brian Moynihan

BML-PJ

Company BML-PJ

Period Q4 2024

Currency USD

Report Type Quarterly Earnings

Generated Apr 17, 2026

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Executive Summary

Bank of America Corporation reported solid QQ4 2024 results with a strong finish to the year and a constructive setup for 2025. Reported revenue of $46.965 billion and net income of $6.665 billion for the quarter, translating to earnings per share (diluted) of $0.82–$0.83. Management highlighted a sequential and year-over-year improvement in net interest income (NII) and continued diversification of revenue across Consumer Banking, Wealth Management, Global Banking, and Global Markets. The firm ended 2024 with robust liquidity and CET1 capital of $201 billion, a CET1 ratio of 11.9%, and excess capital of roughly 115 basis points, positioning BoA to support growth and shareholder returns in 2025.

Key Performance Indicators

Revenue

Decreasing

46.97B

QoQ: -3.90% | YoY: -2.30%

Gross Profit

Decreasing

23.90B

50.88% margin

QoQ: 0.39% | YoY: -2.47%

Operating Income

Decreasing

7.11B

QoQ: -2.95% | YoY: -2.12%

Net Income

Decreasing

6.67B

QoQ: -3.35% | YoY: -0.13%

EPS

Increasing

0.83

QoQ: 1.22% | YoY: 7.79%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: $46.965B (Q4 2024) vs. prior-year and prior-quarter comparables; Gross profit: $23.895B; Operating income: $7.108B; Net income: $6.665B; EPS (diluted): $0.82; NII (fully taxable equivalent): $14.5B (Q4 2024); NII YoY: +3% (Q4 2024 vs. Q4 2023); NII QoQ: +$0.399B; ROA (Q4): 0.80% (Q4) and 0.83% for full-year 2024; ROE (tangible): 13% for the year; Net charge-offs: 54 bps; Deposits: six-quarter consecutive deposit growth, ending 2024 with ~$952B in deposits; Liquidity sources: $953B; CET1: $201B; CET1 ratio: 11.9%; Cash from operations: $25.914B (net cash provided by operating activities for 2024); Free cash flow: $25.914B; Shareholder returns: $21B returned to shareholders in 2024 (up 75% year-over-year), including an 8% dividend increase; 2025 guidance: NII growth of 6%–7% year over year; Q1 2025 NII to be modestly higher than Q4; 2025 tax rate guidance: 11%–13%; Deposit beta and asset repricing to drive NII; Guidance implies exit-Q4 2025 NII of roughly $15.5B–$15.7B on a fully taxable equivalent basis.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	46.97B	-2.30%	-3.90%
Gross Profit	23.90B	-2.47%	0.39%
Operating Income	7.11B	-2.12%	-2.95%
Net Income	6.67B	-0.13%	-3.35%
EPS	0.83	7.79%	1.22%

Key Financial Ratios

Gross Profit Margin

Excellent

94.20%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Good

20.80%

Operating margin is healthy and competitive within industry standards

Net Profit Margin

Excellent

26.30%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Weak

0.20%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

0.20%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

6.69

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Conservative

0.10

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

Value

6.65x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Undervalued

0.05x

Trading below book value, potential value opportunity or distressed

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2026	30,272.00	1.11	+27.2%	View
Q1 2025	46,989.00	0.90	-3.2%	View
Q4 2024	46,965.00	0.82	-2.3%	View
Q3 2024	23,803.00	0.81	+12.0%	View

Bank of America (BML-PJ) Q4 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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