Bank of America (BAC) FY2024 results: revenue $105.9 billion, up 3.0% on the year
Bank of America Corp. (BAC) reported revenue of $105.9 billion for fiscal 2024, the year ended 31 December 2024, up 3.0% on the year before. Net income was $27.0 billion, up 2.5%, and diluted earnings per share $3.21. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2025.
Revenue
$105.9 billion
+3.0% on the year
FY2017FY2024
Operating margin
n/a
FY2017FY2024
Net income
$27.0 billion
+2.5% on the year
FY2017FY2024
Diluted EPS
$3.21
+4.2% on the year
FY2017FY2024
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
-8,805
44,982
-6,327
Cash from investing
-90,693
-35,387
-2,529
Cash from financing
60,369
93,345
-106,039
-35.3%
Depreciation and amortisation
2,189
2,057
1,978
+6.4%
Share-based compensation
3,433
2,942
2,862
+16.7%
Buybacks
13,104
4,576
5,073
+186.4%
Dividends paid
9,503
9,087
8,576
+4.6%
Dividend per share
$1.00
$0.92
$0.86
+8.7%
Diluted shares, weighted
7,936m
8,080m
8,168m
-1.8%
Shares outstanding at period end
7,611m
7,895m
7,997m
-3.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
293,963
290,209
273,197
+1.3%
Deposits
1,965,467
1,923,827
1,930,341
+2.2%
Repurchase agreements
331,758
283,887
195,635
+16.9%
Trading liabilities
92,543
95,530
80,399
-3.1%
Debt
658,428
618,189
498,549
+6.5%
Other liabilities
n/a
n/a
73,254
Total liabilities and equity
3,261,519
3,180,151
3,051,375
+2.6%
Fixed assets
12,168
11,855
11,510
+2.6%
Goodwill
69,021
69,021
69,022
0.0%
Intangible assets
2,000
2,000
2,100
0.0%
Securities held for sale or to maturity
905,109
861,204
853,613
+5.1%
Loans
1,082,595
1,040,390
1,033,065
+4.1%
Resale agreements
274,709
280,624
267,574
-2.1%
Trading assets
314,460
277,354
296,108
+13.4%
Cash and equivalents
290,114
333,073
230,203
-12.9%
Other assets
311,343
304,630
288,180
+2.2%
Total assets
3,261,519
3,180,151
3,051,375
+2.6%
10-K for the year ended 31 December 2024, filed 25 February 2025: the filing.