BAC
Bank of America Corporation
BAC has lower modeled downside risk, despite its lower overall score.
DFIN
Donnelley Financial Solutions, Inc.
DFIN has the edge over BAC overall, supported by stronger modeled upside and stronger valuation.
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.
DFIN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
DFIN's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like DFIN.
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 DFIN in the historical PE scenario, which offers more potential upside but is not a forecast.
DFIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $40.61 | -41% |
| Forward | 13x | $68.62 | — |
| Current | 18x | $68.62 | — |
| Fair | 19x | $72.59 | +5.8% |
| Expensive | 32x | $124 | +81% |
Historical ranges are pointers, not guarantees.
DFIN's PE is in its fair range at 18x. If earnings grow as analysts expect, today's price would be 13x next year's earnings, in its cheap range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BAC, with profitability improving.
DFIN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for DFIN, with profitability improving.
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 DFIN on earnings, with more consistent year-over-year improvement.
DFIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.46 | +41% |
| Q3 2026 | $3.87 | +269% |
| Q2 2026 | $1.53 | -46% |
| Q1 2026 | $1.37 | -55% |
| Q4 2025 | $1.15 | -62% |
| Q3 2025 | $1.05 | -67% |
| Q2 2025 | $2.83 | -19% |
| Q1 2025 | $3.02 | -7.4% |
| Q4 2024 | $3.06 | +14% |
DFIN earned $3.87 per share over the past year, about four times what it earned the year before.
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% |
BAC has the edge over DFIN on sales, with more consistent year-over-year improvement.
| 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 has the edge over DFIN on profitability, with a higher operating margin.
DFIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $185M | +5.5% |
| Q2 2026 | $224.2M | +2.8% |
| Q1 2026 | $205.5M | +2.2% |
| Q4 2025 | $172.5M | +10% |
| Q3 2025 | $175.3M | -2.3% |
| Q2 2025 | $218.1M | -10% |
| Q1 2025 | $201.1M | -1.1% |
| Q4 2024 | $156.3M | -11% |
DFIN's revenue is recovering but still below its 2021 peak: $185M last quarter, up 5.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | +1.5 points |
| Q2 2026 | 25% | +0.8 points |
| Q1 2026 | 24% | +0.8 points |
| Q4 2025 | 8.3% | +2.3 points |
| Q3 2025 | 16% | +5.9 points |
| Q2 2025 | 24% | -2.4 points |
| Q1 2025 | 23% | +0.8 points |
| Q4 2024 | 6% | +0.4 points |
DFIN's operating margin was 18% last quarter, up 1.5 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's free cash flow was $41.4B over the past year, down 33% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BAC.
DFIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $85.8M | +45% |
| Q2 2026 | $61.2M | +18% |
| Q1 2026 | -$16M | +$35M |
| Q4 2025 | $47.9M | +16% |
| Q3 2025 | $59.2M | -12% |
| Q2 2025 | $51.7M | +40% |
| Q1 2025 | -$51M | -$10.8M |
| Q4 2024 | $41.3M | -26% |
DFIN has the edge over BAC on cash flow, with more consistent year-over-year improvement.
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 7.2B diluted shares, down 5.3% from a year ago, with $25.6B in buybacks over the past year.
| 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.
DFIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -300K shares |
| 1 year | -8.8% | -2.4M shares |
| 3 years | -17% | -5.3M shares |
| 5 years | -28% | -9.7M shares |
| Available history | -27% | -9.3M shares |
DFIN has the edge over BAC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $7M |
| Q2 2026 | $35.3M |
| Q1 2026 | $40.9M |
| Q4 2025 | $61.9M |
| Q3 2025 | $34.4M |
| Q2 2025 | $35.7M |
| Q1 2025 | $53M |
| Q4 2024 | $17.2M |
DFIN spent $145M buying back its own shares over the past year, up 3.4% 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.
DFIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 1.0x | Healthy |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 0.8x | Very low |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 0.3x | Very low |
DFIN has the edge over BAC on leverage, with a lower net debt burden relative to earnings.
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).
DFIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 75.3 | Overbought |
| Stochastic | 89.2 | Overbought |
DFIN's weekly RSI is 75 (overbought) and its Stochastic is 89 (overbought).
BAC PE vs Financial Services Sector
| Metric | BAC | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 7.5% below |
| PE % | 40 | 63 | 23 pts below |
BAC has the edge over DFIN on valuation relative to its sector.
DFIN PE vs Financial Services Sector
| Metric | DFIN | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 13x | 36% above |
| PE % | 41 | 63 | 22 pts below |
DFIN is trading at 18x earnings, a 36% premium to the Financial Services sector's median of 13x.
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.
DFIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $56.7 | 21% above |
| 20 week MA | $51.5 | 33% above |
| 50 week MA | $48.3 | 42% above |
| 100 week MA | $51.2 | 34% above |
| 200 week MA | $53.4 | 29% above |
DFIN has the edge over BAC on trend strength, trading above more of its moving averages.
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.
DFIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $17.9 | +73% |
| 2021 | $17.9 | $47.1 | +163% |
| 2022 | $47.1 | $37.5 | -20% |
| 2023 | $37.5 | $62.4 | +66% |
| 2024 | $62.4 | $62.5 | +0.2% |
| 2025 | $62.5 | $46.5 | -26% |
| 2026 YTD | $46.5 | $68.6 | +48% |
DFIN has the edge over BAC on returns for 2026, with the stronger performance.