BAC
Bank of America Corporation
BAC has the edge over BBDC overall, supported by stronger fundamentals and stronger modeled upside.
BBDC
Barings BDC, Inc.
BBDC trails on the overall score without a compensating advantage in the available component scores.
BAC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BAC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BAC.
BBDC Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| N/A | |
| N/A |
BBDC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BBDC.
BAC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.4x | $39.50 | -22% |
| Forward | 10x | $50.51 | — |
| Current | 12x | $50.51 | — |
| Fair | 13x | $53.81 | +6.5% |
| Expensive | 15x | $62.23 | +23% |
Historical ranges are pointers, not guarantees.
BAC has the edge over BBDC in the historical PE scenario, which offers more potential upside but is not a forecast.
BBDC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.3x | $7.69 | -11% |
| Fair | 7.9x | $8.34 | -3.1% |
| Current | 8.1x | $8.60 | — |
| Forward | 8.4x | $8.60 | — |
| Expensive | 20x | $20.87 | +143% |
Historical ranges are pointers, not guarantees.
BBDC's PE is in its fair range at 8.1x. On analysts' estimates for next year's earnings, today's price would be 8.4x, in its expensive range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over BBDC on the outlook, with more favorable valuation and earnings expectations.
BBDC Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect BBDC's profitability to weaken, with its earnings and revenue holding steady.
BAC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.92 | +17% |
| Q3 2026 | $4.19 | +14% |
| Q2 2026 | $4.34 | +27% |
| Q1 2026 | $4.02 | +20% |
| Q4 2025 | $3.81 | +19% |
| Q3 2025 | $3.66 | +33% |
| Q2 2025 | $3.41 | +20% |
| Q1 2025 | $3.35 | +16% |
| Q4 2024 | $3.21 | +4.2% |
BAC has the edge over BBDC on earnings, with more consistent year-over-year improvement.
BBDC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.02 | -3.8% |
| Q3 2026 | $1.06 | -6.2% |
| Q2 2026 | $1.12 | +1.8% |
| Q1 2026 | $1.12 | -8.2% |
| Q4 2025 | $1.12 | -10% |
| Q3 2025 | $1.13 | -12% |
| Q2 2025 | $1.10 | -15% |
| Q1 2025 | $1.22 | +0.8% |
| Q4 2024 | $1.25 | +5.9% |
BBDC's earnings per share have fallen from their peak: $1.06 over the past year, against $2.84 in early 2021.
BAC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $30B | +6.7% |
| Q2 2026 | $31.6B | +19% |
| Q1 2026 | $30.3B | +11% |
| Q4 2025 | $31.2B | +23% |
| Q3 2025 | $28.1B | +11% |
| Q2 2025 | $26.5B | +4.3% |
| Q1 2025 | $27.4B | +6% |
| Q4 2024 | $25.3B | +15% |
BBDC has the stronger quarterly revenue trend. Revenue is up 6.7% for BAC versus up 127% for BBDC.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | -3.7 points |
| Q2 2026 | 37% | +7.6 points |
| Q1 2026 | 34% | +4.7 points |
| Q4 2025 | 40% | +12 points |
| Q3 2025 | 34% | +4.8 points |
| Q2 2025 | 29% | -0.7 points |
| Q1 2025 | 30% | +1.5 points |
| Q4 2024 | 28% | +14 points |
BAC's operating margin was 30% last quarter, down 3.7 points from the same quarter a year ago.
BBDC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2022 | $56.3M | +127% |
| Q2 2022 | $55.6M | +41% |
| Q1 2022 | $43.8M | +43% |
| Q4 2021 | $23.4M | -28% |
| Q3 2021 | $24.8M | +52% |
| Q2 2021 | $39.5M | +145% |
| Q1 2021 | $30.6M | +64% |
| Q4 2020 | $32.5M | +76% |
BBDC's revenue is growing: $56M last quarter, up 127% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2022 | 77% | +19 points |
| Q2 2022 | 81% | +6.6 points |
| Q1 2022 | 70% | -0.6 points |
| Q4 2021 | 49% | -21 points |
| Q3 2021 | 58% | -14 points |
| Q2 2021 | 74% | +5.1 points |
| Q1 2021 | 71% | -0.5 points |
| Q4 2020 | 70% | -4.1 points |
BBDC's operating margin was 77% last quarter, up 19 points from the same quarter a year ago.
BAC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$6.5B | -114% |
| Q2 2026 | $29B | +$38.2B |
| Q1 2026 | $41.8B | +$44B |
| Q4 2025 | -$22.9B | -189% |
| Q3 2025 | $46.9B | +$84.2B |
| Q2 2025 | -$9.1B | -150% |
| Q1 2025 | -$2.2B | +$13.4B |
| Q4 2024 | $25.9B | -21% |
BAC has the edge over BBDC on cash flow, with more consistent year-over-year improvement.
BBDC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$24.8M | -251% |
| Q2 2026 | $15.8M | +$68.5M |
| Q1 2026 | $68M | +$75.7M |
| Q4 2025 | $204.5M | +$249.7M |
| Q3 2025 | $16.5M | -32% |
| Q2 2025 | -$52.7M | -138% |
| Q1 2025 | -$7.8M | -258% |
| Q4 2024 | -$45.2M | -132% |
BBDC's free cash flow was $263M over the past year, against −$89M the year before. Free cash flow isn't a meaningful measure for financial services companies like BBDC.
BAC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -72M shares |
| 1 year | -5.3% | -405M shares |
| 3 years | -11% | -854M shares |
| 5 years | -15% | -1.3B shares |
| Available history | -24% | -2.2B shares |
BAC has the edge over BBDC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6B |
| Q2 2026 | $6B |
| Q1 2026 | $7.2B |
| Q4 2025 | $6.3B |
| Q3 2025 | $5.3B |
| Q2 2025 | $5.3B |
| Q1 2025 | $4.5B |
| Q4 2024 | $3.5B |
BAC spent $25.6B buying back its own shares over the past year, up 37% from the year before.
BBDC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -0.4% | -452K shares |
| 3 years | -1.7% | -1.8M shares |
| 5 years | +60% | +39.4M shares |
| Available history | +113% | +55.6M shares |
BBDC has 105M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $4M |
| Q3 2025 | — |
| Q2 2025 | $888,000 |
| Q1 2025 | $1.5M |
| Q4 2024 | $1.5M |
BBDC spent $4M buying back its own shares over the past year, up 5.3% from the year before.
BAC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 6.4x | High |
| Q2 2026 | 6.7x | High |
| Q1 2026 | 7.1x | High |
| Q4 2025 | 7.7x | High |
| Q3 2025 | 8.3x | High |
| Q2 2025 | 8.8x | High |
| Q1 2025 | 8.6x | High |
| Q4 2024 | 9.0x | High |
BAC's net debt is about 6.4 years of its operating earnings (EBITDA), down from 8.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BAC.
BBDC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 9.5x | High |
| Q2 2022 | 13.2x | High |
| Q1 2022 | 15.4x | High |
| Q4 2021 | 16.8x | High |
| Q3 2021 | 11.3x | High |
| Q2 2021 | 11.8x | High |
| Q1 2021 | 14.1x | High |
| Q4 2020 | 14.5x | High |
BBDC's net debt is about 9.4 years of its operating earnings (EBITDA), down from 11 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BBDC.
BAC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.1 | Neutral |
| Stochastic | 4.9 | Oversold |
BAC's weekly RSI is 37 (neutral) and its Stochastic is 5 (oversold).
BBDC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.0 | Neutral |
| Stochastic | 33.2 | Neutral |
BBDC's weekly RSI is 48 (neutral) and its Stochastic is 33 (neutral).
BAC PE vs Financial Services Sector
| Metric | BAC | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 7.5% below |
| PE % | 40 | 63 | 23 pts below |
BAC is trading at 12x earnings, in line with the Financial Services sector's median of 13x.
BBDC PE vs Financial Services Sector
| Metric | BBDC | Sector median | Relative |
|---|---|---|---|
| PE | 8.1x | 13x | 38% below |
| PE % | 60 | 63 | 3 pts below |
BBDC has the edge over BAC on valuation relative to its sector.
BAC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $52.1 | 3% below |
| 20 week MA | $57.8 | 13% below |
| 50 week MA | $54.7 | 7.7% below |
| 100 week MA | $50.5 | 0% below |
| 200 week MA | $42.5 | 19% above |
BAC has fallen below most of its moving averages, though it's still 19% above its 200-week average.
BBDC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.56 | 0.5% above |
| 20 week MA | $8.72 | 1.4% below |
| 50 week MA | $8.71 | 1.3% below |
| 100 week MA | $9.01 | 4.6% below |
| 200 week MA | $9.01 | 4.6% below |
BBDC has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 4.6% below its 200-week average.
BAC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $35.4 | $30.0 | -15% |
| 2021 | $30.0 | $44.4 | +48% |
| 2022 | $44.4 | $32.5 | -27% |
| 2023 | $32.5 | $33.7 | +3.7% |
| 2024 | $33.7 | $44.3 | +32% |
| 2025 | $44.3 | $56.2 | +27% |
| 2026 YTD | $56.2 | $50.5 | -10% |
BAC has finished higher in four of the last six years. It's down 10% so far in 2026.
BBDC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.3 | $9.10 | -12% |
| 2021 | $9.10 | $11.0 | +21% |
| 2022 | $11.0 | $8.25 | -25% |
| 2023 | $8.25 | $8.58 | +4% |
| 2024 | $8.58 | $9.52 | +11% |
| 2025 | $9.52 | $8.97 | -5.8% |
| 2026 YTD | $8.97 | $8.60 | -4.1% |
BBDC has the edge over BAC on returns for 2026, with the stronger performance.