BAC
Bank of America Corporation
BAC's fundamentals are strong: its operating margin rose 5 points to 35% and revenue grew 15%. At 12x earnings, it's trading in line with its usual 13x. Analysts expect earnings growth.
HRZN
Horizon Technology Finance Corporation
There isn't enough reported data to score HRZN yet.
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.
HRZN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| N/A | |
| N/A |
HRZN's revenue is currently healthy, and its profitability is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like HRZN.
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.
HRZN PE Valuation
HRZN 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 HRZN on the outlook, with more favorable earnings and profitability expectations.
HRZN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect HRZN's revenue to grow, but its profitability to weaken.
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 HRZN on earnings quality, reporting a profit while its opponent remains loss making.
HRZN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.74 | — |
| Q3 2026 | -$0.65 | +$0.04 |
| Q2 2026 | $0.46 | +$1.51 |
| Q1 2026 | $0.53 | +$0.72 |
| Q4 2025 | -$0.06 | -108% |
| Q3 2025 | -$0.69 | -196% |
| Q2 2025 | -$1.05 | -213% |
| Q1 2023 | $1.36 | +9.7% |
| Q4 2022 | $1.06 | -24% |
HRZN is still losing money, but less than at its worst: $0.65 per share over the past year, against $1.05 at its worst in mid-2025.
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% |
HRZN has the stronger quarterly revenue trend. Revenue is up 6.7% for BAC versus up 16% for HRZN.
| 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.
HRZN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $13M | +16% |
| Q1 2022 | $8.3M | -16% |
| Q4 2021 | $7.1M | +19% |
| Q3 2021 | $17.1M | +12099% |
| Q2 2021 | $11.1M | -2.2% |
| Q1 2021 | $10M | +303% |
| Q4 2020 | $6M | -41% |
HRZN's revenue is growing: $13M last quarter, up 16% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 60% | -1.3 points |
| Q1 2022 | 43% | -18 points |
| Q4 2021 | 35% | -8.6 points |
| Q3 2021 | 75% | +2397 points |
| Q2 2021 | 61% | -8.6 points |
| Q1 2021 | 61% | +90 points |
| Q4 2020 | 44% | -25 points |
| Q3 2020 | -2321% | N/A |
HRZN's operating margin was 60% last quarter, down 1.3 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 HRZN on cash flow, with more consistent year-over-year improvement.
HRZN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.2M | -98% |
| Q2 2026 | $123.5M | +149% |
| Q1 2026 | -$42.1M | -$28.9M |
| Q4 2025 | -$30.4M | -$4.3M |
| Q3 2025 | $50.6M | +$78.9M |
| Q2 2025 | $49.6M | -8.6% |
| Q1 2025 | -$13.2M | -426% |
| Q4 2024 | -$26.1M | -333% |
HRZN's free cash flow was $52M over the past year, down 14% from the year before. Free cash flow isn't a meaningful measure for financial services companies like HRZN.
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 HRZN 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.
HRZN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.1% | +1.3M shares |
| 1 year | +61% | +25.1M shares |
| 3 years | +123% | +36.6M shares |
| 5 years | +234% | +46.5M shares |
| Available history | +347% | +51.5M shares |
HRZN has 66M diluted shares, up 61% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $10M |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
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.
HRZN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 11.5x | High |
| Q1 2022 | 9.1x | High |
| Q4 2021 | 7.7x | High |
| Q3 2021 | 8.3x | High |
| Q2 2021 | 15.5x | High |
| Q1 2021 | 12.6x | High |
| Q4 2020 | 25.3x | High |
| Q3 2020 | 11.9x | High |
HRZN's net debt is about 12 years of its operating earnings (EBITDA), down from 16 years a year ago. Net leverage isn't a meaningful measure for financial services companies like HRZN.
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).
HRZN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.5 | Neutral |
| Stochastic | 12.2 | Oversold |
HRZN's weekly RSI is 34 (neutral) and its Stochastic is 12 (oversold).
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.
HRZN PE vs Financial Services Sector
| Metric | HRZN | Sector median | Relative |
|---|---|---|---|
| PE | 8.9x | 13x | 32% below |
| PE % | 14 | 63 | 49 pts below |
HRZN 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 the edge over HRZN on trend strength, trading above more of its moving averages.
HRZN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $4.23 | 11% below |
| 20 week MA | $4.51 | 17% below |
| 50 week MA | $4.95 | 24% below |
| 100 week MA | $6.40 | 41% below |
| 200 week MA | $9.08 | 59% below |
HRZN is in a downtrend: it's below all five of its weekly moving averages, and 59% 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 HRZN on returns for 2026, with the stronger performance.
HRZN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.4 | $13.0 | +4.9% |
| 2021 | $13.0 | $15.8 | +22% |
| 2022 | $15.8 | $11.6 | -26% |
| 2023 | $11.6 | $13.2 | +13% |
| 2024 | $13.2 | $9.00 | -32% |
| 2025 | $9.00 | $6.34 | -30% |
| 2026 YTD | $6.34 | $3.76 | -41% |
HRZN has finished lower in three of the last six years. It's down 41% so far in 2026.