BAC
Bank of America Corporation
BAC offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
MGR
Affiliated Managers Group, Inc.
MGR has the edge over BAC overall, supported by stronger fundamentals and lower modeled downside.
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.
MGR Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MGR's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MGR.
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.
MGR PE Valuation
MGR 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 |
Analysts expect earnings and revenue growth for BAC, with profitability improving.
MGR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MGR, 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.
MGR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $28.30 | +68% |
| Q2 2026 | $28.53 | +108% |
| Q1 2026 | $24.38 | +85% |
| Q4 2025 | $22.74 | +50% |
| Q3 2025 | $16.82 | +9.2% |
| Q2 2025 | $13.73 | -20% |
| Q1 2025 | $13.19 | -27% |
| Q4 2024 | $15.13 | -13% |
MGR earned $28.30 per share over the past year, up 68% 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 has the edge over MGR 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's operating margin was 30% last quarter, down 3.7 points from the same quarter a year ago.
MGR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $595.2M | +13% |
| Q2 2026 | $640.7M | +30% |
| Q1 2026 | $544.9M | +9.7% |
| Q4 2025 | $556.6M | +6.2% |
| Q3 2025 | $528M | +2.2% |
| Q2 2025 | $493.2M | -1.4% |
| Q1 2025 | $496.6M | -0.7% |
| Q4 2024 | $524.3M | +4.3% |
MGR's revenue has grown year over year for five quarters in a row: $595M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 54% | -14 points |
| Q2 2026 | 48% | +13 points |
| Q1 2026 | 35% | +9.9 points |
| Q4 2025 | 94% | +42 points |
| Q3 2025 | 69% | +27 points |
| Q2 2025 | 35% | -0.9 points |
| Q1 2025 | 25% | -25 points |
| Q4 2024 | 52% | -2.3 points |
MGR 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.
MGR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $360.1M | +31% |
| Q2 2026 | $239M | +4.2% |
| Q1 2026 | $295.5M | +43% |
| Q4 2025 | $254.5M | +20% |
| Q3 2025 | $275.9M | +4.3% |
| Q2 2025 | $229.4M | -6.2% |
| Q1 2025 | $207.3M | -0.4% |
| Q4 2024 | $211.4M | -15% |
MGR 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 7.2B diluted shares, down 5.3% from a year ago, with $25.6B in buybacks over the past year.
| 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.
MGR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3% | -800K shares |
| 1 year | -21% | -6.8M shares |
| 3 years | -38% | -16M shares |
| 5 years | -43% | -19.3M shares |
| Available history | -48% | -24.5M shares |
MGR has the edge over BAC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $402.6M |
| Q2 2026 | $179.7M |
| Q1 2026 | $185.1M |
| Q4 2025 | $353.1M |
| Q3 2025 | $75.7M |
| Q2 2025 | $101.3M |
| Q1 2025 | $176.2M |
| Q4 2024 | $120.3M |
MGR spent $1.1B buying back its own shares over the past year, up 137% 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.
MGR 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).
MGR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 25.3 | Oversold |
| Stochastic | 10.8 | Oversold |
MGR's weekly RSI is 25 (oversold) and its Stochastic is 11 (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.
MGR PE vs Financial Services Sector
MGR 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 MGR on trend strength, trading above more of its moving averages.
MGR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.8 | 4.4% below |
| 20 week MA | $19.5 | 7.8% below |
| 50 week MA | $20.2 | 11% below |
| 100 week MA | $20.9 | 14% below |
| 200 week MA | $21.9 | 18% below |
MGR is in a downtrend: it's below all five of its weekly moving averages, and 18% 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 MGR on returns for 2026, with the stronger performance.
MGR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.3 | $28.0 | +2.7% |
| 2021 | $28.0 | $27.2 | -2.9% |
| 2022 | $27.2 | $22.6 | -17% |
| 2023 | $22.6 | $22.5 | -0.2% |
| 2024 | $22.5 | $21.8 | -3.4% |
| 2025 | $21.8 | $21.5 | -1.3% |
| 2026 YTD | $21.5 | $17.9 | -16% |
MGR has finished five years in a row lower, and it's down 16% so far in 2026.