BAC
Bank of America Corporation
BAC has slightly lower modeled downside risk, despite its lower overall score.
ICE
Intercontinental Exchange, Inc.
ICE has the edge over BAC overall, supported by 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.
ICE Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
ICE's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like ICE.
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 ICE in the historical PE scenario, which offers more potential upside but is not a forecast.
ICE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $178 | — |
| Cheap | 22x | $165 | -7.5% |
| Current | 24x | $178 | — |
| Fair | 28x | $209 | +17% |
| Expensive | 37x | $271 | +52% |
Historical ranges are pointers, not guarantees.
ICE's PE is in its cheap range at 24x. If earnings grow as analysts expect, today's price would be 21x next year's earnings.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BAC, with profitability improving.
ICE Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for ICE, 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.
ICE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.59 | +17% |
| Q3 2026 | $7.33 | +34% |
| Q2 2026 | $7.08 | +36% |
| Q1 2026 | $6.87 | +42% |
| Q4 2025 | $5.77 | +21% |
| Q3 2025 | $5.49 | +30% |
| Q2 2025 | $5.21 | +29% |
| Q1 2025 | $4.83 | +11% |
| Q4 2024 | $4.78 | +14% |
ICE has the edge over BAC on earnings, with stronger typical year-over-year growth.
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.
ICE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.6B | +21% |
| Q2 2026 | $3.6B | +11% |
| Q1 2026 | $3.7B | +14% |
| Q4 2025 | $3.1B | +3.7% |
| Q3 2025 | $3B | -0.9% |
| Q2 2025 | $3.3B | +13% |
| Q1 2025 | $3.2B | +15% |
| Q4 2024 | $3B | +14% |
ICE's revenue has grown year over year for four quarters in a row: $3.6B last quarter, up 21% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 39% | -0.2 points |
| Q2 2026 | 39% | -1.2 points |
| Q1 2026 | 45% | +7.6 points |
| Q4 2025 | 39% | +3.8 points |
| Q3 2025 | 39% | +2.7 points |
| Q2 2025 | 40% | +3 points |
| Q1 2025 | 38% | -0.1 points |
| Q4 2024 | 36% | +0.8 points |
ICE 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'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.
ICE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +23% |
| Q2 2026 | $1.9B | +28% |
| Q1 2026 | $1.3B | +43% |
| Q4 2025 | $1.1B | -15% |
| Q3 2025 | $853M | +4.2% |
| Q2 2025 | $1.4B | +29% |
| Q1 2025 | $881M | -7.4% |
| Q4 2024 | $1.3B | +49% |
ICE 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 the edge over ICE 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.
ICE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -3M shares |
| 1 year | -1.9% | -11M shares |
| 3 years | -0.4% | -2M shares |
| 5 years | -0.5% | -3M shares |
| Available history | -0.4% | -2M shares |
ICE has 563M diluted shares, down 1.9% from a year ago, with $2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $400M |
| Q2 2026 | $651M |
| Q1 2026 | $551M |
| Q4 2025 | $400M |
| Q3 2025 | $398M |
| Q2 2025 | $255M |
| Q1 2025 | $241M |
| Q4 2023 | — |
ICE spent $2B buying back its own shares over the past year.
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.
ICE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.5x | Elevated |
| Q2 2026 | 3.0x | Elevated |
| Q1 2026 | 3.3x | Elevated |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 3.2x | Elevated |
| Q2 2025 | 3.3x | Elevated |
| Q1 2025 | 3.8x | Elevated |
| Q4 2024 | 4.0x | Elevated |
ICE 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).
ICE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.5 | Neutral |
| Stochastic | 88.9 | Overbought |
ICE's weekly RSI is 68 (neutral) 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 ICE on valuation relative to its sector.
ICE PE vs Financial Services Sector
| Metric | ICE | Sector median | Relative |
|---|---|---|---|
| PE | 24x | 13x | 86% above |
| PE % | 28 | 63 | 35 pts below |
ICE is trading at 24x earnings, a 86% 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.
ICE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $163.0 | 9.1% above |
| 20 week MA | $155.6 | 14% above |
| 50 week MA | $156.6 | 14% above |
| 100 week MA | $162.0 | 9.8% above |
| 200 week MA | $144.9 | 23% above |
ICE 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.
ICE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $93.0 | $112.7 | +21% |
| 2021 | $112.7 | $135.8 | +21% |
| 2022 | $135.8 | $102.8 | -24% |
| 2023 | $102.8 | $128.4 | +25% |
| 2024 | $128.4 | $150.3 | +17% |
| 2025 | $150.3 | $163.5 | +8.8% |
| 2026 YTD | $163.5 | $177.9 | +8.8% |
ICE has the edge over BAC on returns for 2026, with the stronger performance.