BAC
Bank of America Corporation
BAC has slightly lower modeled downside risk, despite its lower overall score.
LNC
Lincoln National Corporation
LNC has the edge over BAC overall, supported by stronger valuation and stronger fundamentals.
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.
LNC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
LNC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like LNC.
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.
LNC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 2.5x | $41.80 | — |
| Cheap | 3.8x | $63.26 | +51% |
| Forward | 4.9x | $41.80 | — |
| Fair | 8.9x | $149 | +257% |
| Expensive | 15x | $256 | +512% |
Historical ranges are pointers, not guarantees.
LNC has the edge over BAC in the historical PE scenario, which offers more potential upside but is not a forecast.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over LNC on the outlook, with more favorable valuation and revenue expectations.
LNC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect LNC'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 LNC on earnings, with more consistent year-over-year improvement.
LNC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.54 | -49% |
| Q3 2026 | $16.71 | +50% |
| Q2 2026 | $12.06 | +109% |
| Q1 2026 | $9.14 | +29% |
| Q4 2025 | $5.83 | -68% |
| Q3 2025 | $11.17 | +660% |
| Q2 2025 | $5.76 | -40% |
| Q1 2025 | $7.07 | -4.2% |
| Q4 2024 | $18.41 | +$23.33 |
LNC earned $16.71 per share over the past year, up 50% from 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'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.
LNC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.5B | +20% |
| Q2 2026 | $4.5B | +12% |
| Q1 2026 | $5.3B | +13% |
| Q4 2025 | $4.9B | -2.8% |
| Q3 2025 | $4.6B | +11% |
| Q2 2025 | $4B | -22% |
| Q1 2025 | $4.7B | +14% |
| Q4 2024 | $5.1B | +624% |
LNC's revenue is growing: $5.5B last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | +20 points |
| Q2 2026 | 36% | +15 points |
| Q1 2026 | -4.6% | +16 points |
| Q4 2025 | 19% | -23 points |
| Q3 2025 | 12% | +29 points |
| Q2 2025 | 21% | -0.3 points |
| Q1 2025 | -20% | -57 points |
| Q4 2024 | 41% | +272 points |
LNC 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.
LNC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $875M | +$2B |
| Q2 2026 | -$558M | -155% |
| Q1 2026 | $138M | +$410M |
| Q4 2025 | $233M | +5% |
| Q3 2025 | -$1.1B | -$1.1B |
| Q2 2025 | $1B | +$1.9B |
| Q1 2025 | -$272M | +$1.1B |
| Q4 2024 | $222M | +$2.1B |
LNC 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 LNC 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.
LNC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +235K shares |
| 1 year | +1.2% | +2.3M shares |
| 3 years | +15% | +25.8M shares |
| 5 years | +4% | +7.6M shares |
| Available history | -2.7% | -5.5M shares |
LNC has 197M diluted shares, up 1.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | $50M |
| Q2 2022 | $100M |
| Q1 2022 | $400M |
| Q4 2021 | $650M |
| Q3 2021 | $200M |
| Q2 2021 | $150M |
| Q1 2021 | $105M |
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.
LNC Net Leverage
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).
LNC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.7 | Neutral |
| Stochastic | 27.7 | Neutral |
LNC's weekly RSI is 54 (neutral) and its Stochastic is 28 (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.
LNC PE vs Financial Services Sector
| Metric | LNC | Sector median | Relative |
|---|---|---|---|
| PE | 2.5x | 13x | 81% below |
| PE % | 5 | 63 | 58 pts below |
LNC 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.
LNC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.6 | 3% above |
| 20 week MA | $42.0 | 0.4% below |
| 50 week MA | $39.8 | 5.1% above |
| 100 week MA | $38.0 | 10% above |
| 200 week MA | $33.0 | 27% above |
LNC 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.
LNC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $58.7 | $49.7 | -15% |
| 2021 | $49.7 | $67.9 | +36% |
| 2022 | $67.9 | $30.1 | -56% |
| 2023 | $30.1 | $27.0 | -10% |
| 2024 | $27.0 | $31.8 | +18% |
| 2025 | $31.8 | $45.7 | +44% |
| 2026 YTD | $45.7 | $41.8 | -8.6% |
LNC has the edge over BAC on returns for 2026, with the stronger performance.