BAC
Bank of America Corporation
BAC has the edge over HGBL overall, supported by stronger fundamentals and stronger modeled upside.
HGBL
Heritage Global Inc.
HGBL's outlook is improving, though it still trails on the overall score.
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.
HGBL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| N/A | |
| N/A |
HGBL's revenue is currently stable, but its profitability is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like HGBL.
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's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 10x next year's earnings, in its cheap range.
HGBL PE Valuation
HGBL has no meaningful PE right now: it lost money over the past year.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over HGBL on the outlook, with more favorable revenue expectations.
HGBL Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect HGBL's earnings to grow and its profitability to improve, with its 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 HGBL on earnings quality, reporting a profit while its opponent remains loss making.
HGBL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.14 | — |
| Q3 2026 | -$0.41 | -556% |
| Q2 2026 | -$0.42 | -520% |
| Q1 2026 | $0.09 | -25% |
| Q4 2025 | $0.10 | -29% |
| Q3 2025 | $0.09 | -68% |
| Q2 2025 | $0.10 | -67% |
| Q1 2025 | $0.12 | -60% |
| Q4 2024 | $0.14 | -58% |
HGBL has swung to a loss: it lost $0.41 per share over the past year, after a profit 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 HGBL 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 HGBL on profitability, with a higher operating margin.
HGBL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $14.6M | +28% |
| Q2 2026 | $12.3M | -14% |
| Q1 2026 | $12.7M | -5.5% |
| Q4 2025 | $11.9M | +10% |
| Q3 2025 | $11.4M | +9.1% |
| Q2 2025 | $14.3M | +19% |
| Q1 2025 | $13.5M | +11% |
| Q4 2024 | $10.8M | -30% |
HGBL's revenue has held roughly level: $15M last quarter, up 28% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.2% | -4.3 points |
| Q2 2026 | -170% | -186 points |
| Q1 2026 | 7.9% | -2.5 points |
| Q4 2025 | 6.5% | -7.2 points |
| Q3 2025 | 11% | -2.8 points |
| Q2 2025 | 16% | -14 points |
| Q1 2025 | 10% | -11 points |
| Q4 2024 | 14% | -16 points |
HGBL's operating margin was 7.2% last quarter, down 4.3 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 HGBL on cash flow, with more consistent year-over-year improvement.
HGBL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.6M | +$2.8M |
| Q2 2026 | $1.4M | -18% |
| Q1 2026 | -$3.2M | +$1.6M |
| Q4 2025 | $971K | +$6.5M |
| Q3 2025 | -$233K | -104% |
| Q2 2025 | $1.7M | -71% |
| Q1 2025 | -$4.8M | -390% |
| Q4 2024 | -$5.5M | -1394% |
HGBL's free cash flow was $2M over the past year, against −$9M the year before. Free cash flow isn't a meaningful measure for financial services companies like HGBL.
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 HGBL 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.
HGBL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.3% | +443K shares |
| 1 year | -0.4% | -134K shares |
| 3 years | -6.8% | -2.6M shares |
| 5 years | -5.4% | -2M shares |
| Available history | +20% | +5.8M shares |
HGBL has 35M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $134,000 |
| Q1 2026 | $141,000 |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $1.6M |
| Q1 2025 | $1M |
| Q4 2024 | $1.1M |
HGBL spent $275,000 buying back its own shares over the past year, down 93% 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.
HGBL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -1.3x | Net Cash |
| Q4 2025 | -3.3x | Net Cash |
| Q3 2025 | -2.2x | Net Cash |
| Q2 2025 | -2.2x | Net Cash |
| Q1 2025 | -1.7x | Net Cash |
| Q4 2024 | -2.3x | Net Cash |
| Q3 2024 | -2.1x | Net Cash |
| Q2 2024 | -1.8x | Net Cash |
HGBL has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like HGBL.
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).
HGBL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.1 | Neutral |
| Stochastic | 48.5 | Neutral |
HGBL's weekly RSI is 41 (neutral) and its Stochastic is 49 (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.
HGBL PE vs Financial Services Sector
| Metric | HGBL | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
HGBL has no meaningful PE right now: it lost money over the past year.
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 the edge over HGBL on trend strength, trading above more of its moving averages.
HGBL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.26 | 7.9% below |
| 20 week MA | $1.24 | 6.5% below |
| 50 week MA | $1.28 | 9.4% below |
| 100 week MA | $1.61 | 28% below |
| 200 week MA | $2.14 | 46% below |
HGBL is in a downtrend: it's below all five of its weekly moving averages, and 46% 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.
HGBL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $0.90 | $3.13 | +248% |
| 2021 | $3.13 | $1.50 | -52% |
| 2022 | $1.50 | $2.37 | +58% |
| 2023 | $2.37 | $2.78 | +17% |
| 2024 | $2.78 | $1.72 | -38% |
| 2025 | $1.72 | $1.26 | -27% |
| 2026 YTD | $1.26 | $1.16 | -7.9% |
HGBL has the edge over BAC on returns for 2026, with the stronger performance.