BAC
Bank of America Corporation
BAC has the edge over FNF overall, supported by stronger modeled upside and stronger fundamentals.
FNF
Fidelity National Financial, Inc.
FNF offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
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.
FNF Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
FNF's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like FNF.
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 FNF in the historical PE scenario, which offers more potential upside but is not a forecast.
FNF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.9x | $23.18 | -46% |
| Forward | 8.3x | $43.10 | — |
| Current | 11x | $43.10 | — |
| Fair | 14x | $56.61 | +31% |
| Expensive | 21x | $82.71 | +92% |
Historical ranges are pointers, not guarantees.
FNF's PE is in its fair range at 11x. On analysts' estimates for next year's earnings, today's price would be 8.3x, in its cheap range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over FNF on the outlook, with more favorable earnings and revenue expectations.
FNF Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect FNF's earnings, revenue and profitability to hold roughly 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 FNF on earnings, with more consistent year-over-year improvement.
FNF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.18 | +32% |
| Q3 2026 | $3.91 | -5.8% |
| Q2 2026 | $2.82 | -26% |
| Q1 2026 | $2.73 | -30% |
| Q4 2025 | $2.12 | -53% |
| Q3 2025 | $4.15 | +57% |
| Q2 2025 | $3.80 | +18% |
| Q1 2025 | $3.90 | +33% |
| Q4 2024 | $4.48 | +143% |
FNF's earnings per share have fallen from their peak: $3.91 over the past year, against $8.70 in late 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% |
BAC's revenue has grown year over year for 10 quarters in a row: $30B last quarter, up 6.7% from the same quarter a year ago.
| 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.
FNF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.6B | -11% |
| Q2 2026 | $4.1B | +11% |
| Q1 2026 | $3.2B | +18% |
| Q4 2025 | $4.1B | +12% |
| Q3 2025 | $4B | +12% |
| Q2 2025 | $3.6B | +15% |
| Q1 2025 | $2.7B | -17% |
| Q4 2024 | $3.6B | +5.5% |
FNF's revenue is growing: $3.6B last quarter, down 11% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | +24 points |
| Q2 2026 | 8.3% | -2.2 points |
| Q1 2026 | 15% | +11 points |
| Q4 2025 | 11% | -6.5 points |
| Q3 2025 | 11% | +2.6 points |
| Q2 2025 | 11% | -4 points |
| Q1 2025 | 4.1% | -6 points |
| Q4 2024 | 18% | +23 points |
FNF has the edge over BAC on profitability, with a higher operating margin.
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 FNF on cash flow, with more consistent year-over-year improvement.
FNF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +8.4% |
| Q2 2026 | $1.9B | -1.3% |
| Q1 2026 | $875M | -22% |
| Q4 2025 | $1.5B | +0.7% |
| Q3 2025 | $1.3B | -45% |
| Q2 2025 | $1.9B | +39% |
| Q1 2025 | $1.1B | -30% |
| Q4 2024 | $1.5B | -34% |
FNF's free cash flow was $5.7B over the past year, down 2.5% from the year before. Free cash flow isn't a meaningful measure for financial services companies like FNF.
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 FNF 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.
FNF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -4.6% | -13M shares |
| 3 years | -5% | -14M shares |
| 5 years | -13% | -40.4M shares |
| Available history | -10% | -30.2M shares |
FNF has 267M diluted shares, down 4.6% from a year ago, with $174M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $6M |
| Q2 2026 | $60M |
| Q1 2026 | $78M |
| Q4 2025 | $30M |
| Q3 2025 | $43M |
| Q2 2025 | $154M |
| Q1 2025 | $24M |
| Q4 2024 | — |
FNF spent $174M buying back its own shares over the past year, down 21% 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.
FNF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.4x | Very low |
| Q2 2026 | 0.3x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | 0.3x | Very low |
FNF 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).
FNF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.1 | Neutral |
| Stochastic | 33.1 | Neutral |
FNF's weekly RSI is 43 (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.
FNF PE vs Financial Services Sector
| Metric | FNF | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 15% below |
| PE % | 37 | 63 | 26 pts below |
FNF 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.
FNF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.9 | 5.3% above |
| 20 week MA | $45.4 | 5% below |
| 50 week MA | $48.8 | 12% below |
| 100 week MA | $53.6 | 20% below |
| 200 week MA | $50.3 | 14% below |
FNF has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 14% 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 the edge over FNF on returns for 2026, with the stronger performance.
FNF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $43.3 | $37.0 | -15% |
| 2021 | $37.0 | $48.9 | +32% |
| 2022 | $48.9 | $37.8 | -23% |
| 2023 | $37.8 | $51.0 | +35% |
| 2024 | $51.0 | $56.3 | +10% |
| 2025 | $56.3 | $54.9 | -2.5% |
| 2026 YTD | $54.9 | $43.1 | -21% |
FNF has finished lower in three of the last six years. It's down 21% so far in 2026.