BAC
Bank of America Corporation
BAC has the edge over FRHC overall, supported by stronger valuation and lower modeled downside.
FRHC
Freedom Holding Corp.
FRHC offers stronger modeled upside, 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.
FRHC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
FRHC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like FRHC.
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 FRHC in the historical PE scenario, which offers more potential upside but is not a forecast.
FRHC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $35.61 | -77% |
| Forward | 25x | $158 | — |
| Fair | 36x | $90.74 | -43% |
| Current | 62x | $158 | — |
| Expensive | 82x | $209 | +32% |
Historical ranges are pointers, not guarantees.
FRHC's PE is in its expensive range at 62x. If earnings grow as analysts expect, today's price would be 25x next year's earnings, in its fair range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BAC, with profitability improving.
FRHC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for FRHC, 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's earnings per share have climbed steadily: $4.19 over the past year, up 14% from the year before, and higher year over year for eight quarters in a row.
FRHC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.30 | +149% |
| Q2 2026 | $2.53 | +90% |
| Q1 2026 | $2.51 | +79% |
| Q4 2023 | $5.35 | +302% |
| Q3 2023 | $5.08 | +512% |
| Q2 2023 | $3.57 | -6.8% |
| Q1 2023 | $3.45 | -6% |
| Q4 2022 | $1.33 | -78% |
| Q3 2022 | $0.83 | -86% |
FRHC's earnings per share have fallen from their peak: $2.53 over the past year, against $6.08 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 has the edge over FRHC on profitability, with a higher operating margin.
FRHC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $732.5M | +37% |
| Q1 2026 | $503.1M | +38% |
| Q4 2025 | $628.6M | -4.1% |
| Q3 2025 | $526.1M | -9.4% |
| Q2 2025 | $533.4M | +18% |
| Q1 2025 | $363.7M | -22% |
| Q4 2024 | $655.2M | +57% |
| Q3 2024 | $580.9M | +33% |
FRHC's revenue is growing: $733M last quarter, up 37% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 5.6% | -2 points |
| Q1 2026 | 6.2% | +49 points |
| Q4 2025 | 15% | -0.1 points |
| Q3 2025 | 12% | -11 points |
| Q2 2025 | 7.6% | -1.6 points |
| Q1 2025 | -43% | -65 points |
| Q4 2024 | 15% | -12 points |
| Q3 2024 | 22% | -8.8 points |
FRHC's operating margin was 5.6% last quarter, down 2 points from the same quarter a year ago, near the bottom of its range since 2019.
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 FRHC on cash generation, producing positive trailing cash flow while its opponent burns cash.
FRHC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$420.8M | -193% |
| Q1 2026 | -$1.6B | -221% |
| Q4 2025 | $651.7M | +$744.4M |
| Q3 2025 | $456.4M | +$903.8M |
| Q2 2025 | $450M | -46% |
| Q1 2025 | $1.3B | +330% |
| Q4 2024 | -$92.7M | -$54.2M |
| Q3 2024 | -$447.5M | -$1.1M |
FRHC's free cash flow was −$884M over the past year, against $1.2B the year before. Free cash flow isn't a meaningful measure for financial services companies like FRHC.
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 FRHC 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.
FRHC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +152K shares |
| 1 year | +0.3% | +212K shares |
| 3 years | +4.8% | +2.8M shares |
FRHC has 61M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q1 2022 | — |
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.
FRHC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 1.1x | Healthy |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | 0.8x | Very low |
| Q1 2025 | -2.8x | Net Cash |
| Q4 2024 | -0.3x | Net Cash |
| Q3 2024 | -0.8x | Net Cash |
FRHC 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).
FRHC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.2 | Neutral |
| Stochastic | 67.7 | Neutral |
FRHC's weekly RSI is 48 (neutral) and its Stochastic is 68 (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 has the edge over FRHC on valuation relative to its sector.
FRHC PE vs Financial Services Sector
| Metric | FRHC | Sector median | Relative |
|---|---|---|---|
| PE | 62x | 13x | 380% above |
| PE % | 75 | 63 | 12 pts above |
FRHC is trading at 62x earnings, a 380% 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.
FRHC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $173.9 | 9.1% below |
| 20 week MA | $165.5 | 4.5% below |
| 50 week MA | $147.5 | 7.1% above |
| 100 week MA | $149.1 | 6% above |
| 200 week MA | $116.0 | 36% above |
FRHC 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.
FRHC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.9 | $52.1 | +250% |
| 2021 | $52.1 | $69.2 | +33% |
| 2022 | $69.2 | $57.9 | -16% |
| 2023 | $57.9 | $80.6 | +39% |
| 2024 | $80.6 | $129.7 | +61% |
| 2025 | $129.7 | $131.3 | +1.2% |
| 2026 YTD | $131.3 | $158.0 | +20% |
FRHC has the edge over BAC on returns for 2026, with the stronger performance.