Bank of America Corporation (BAC) Financial Statements

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Bank of America financial statements at a glance

Bank of America reported revenue of $101.89 billion for fiscal year 2024 (ended December 31, 2024), up 3.4% from fiscal year 2023. Net income was $25.50 billion, a net margin of 25.0%.

At the end of fiscal year 2024 it had total assets of $3.26 trillion, total liabilities of $2.97 trillion and shareholders' equity of $295.56 billion, with cash of $296.49 billion and total debt of $326.67 billion.

Its operations brought in -$8.81 billion of cash, leaving free cash flow of -$8.81 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2024.

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Bank of America Corporation

BACUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Values in USD

Bank of America key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue–$101.9B$98.6B$95.0B$89.1B
Net income–$25.5B$24.9B$26.0B$30.6B
Total assets$3.4T$3.3T$3.2T$3.1T$3.2T
Total liabilities$3.1T$3.0T$2.9T$2.8T$2.9T
Shareholders' equity$303.2B$295.6B$291.6B$273.2B$270.1B
Cash$239.3B$296.5B$341.4B$237.5B$355.4B
Total debt$365.9B$326.7B$334.3B$302.9B$303.9B
Operating cash flow$12.6B-$8.8B$45.0B-$6.3B-$7.2B
Free cash flow$12.6B-$8.8B$45.0B-$6.3B-$7.2B

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was Bank of America's revenue in fiscal year 2024?

$101.89 billion, up 3.4% from $98.58 billion in fiscal year 2023.

How much profit does Bank of America make?

Bank of America reported net income of $25.50 billion for fiscal year 2024 (25.0% of revenue).

How much cash and debt does Bank of America have?

At the end of fiscal year 2024: cash of $296.49 billion and total debt of $326.67 billion.

What is Bank of America's free cash flow?

-$8.81 billion in fiscal year 2024 (operating cash flow of -$8.81 billion).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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