BAC
Bank of America Corporation
BAC has the edge over MKL overall, supported by stronger modeled upside and stronger fundamentals.
MKL
Markel Corporation
MKL'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.
MKL Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
MKL's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like MKL.
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 MKL in the historical PE scenario, which offers more potential upside but is not a forecast.
MKL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.7x | $1,086 | -45% |
| Fair | 10x | $1,458 | -26% |
| Current | 14x | $1,962 | — |
| Forward | 17x | $1,962 | — |
| Expensive | 30x | $4,191 | +114% |
Historical ranges are pointers, not guarantees.
MKL's PE is in its expensive range at 14x. On analysts' estimates for next year's earnings, today's price would be 17x.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over MKL on the outlook, with more favorable valuation and revenue expectations.
MKL Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect MKL'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 MKL on earnings, with more consistent year-over-year improvement.
MKL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $118.42 | -16% |
| Q3 2026 | $140.23 | -12% |
| Q2 2026 | $181.33 | +8.6% |
| Q1 2026 | $138.24 | +1.7% |
| Q4 2025 | $169.22 | -15% |
| Q3 2025 | $160.02 | -26% |
| Q2 2025 | $167.02 | +8.7% |
| Q1 2025 | $135.97 | -27% |
| Q4 2024 | $199.32 | +36% |
MKL's earnings per share have fallen from their peak: $140.23 over the past year, against $216.79 in late 2024.
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 MKL 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 MKL on profitability, with a higher operating margin.
MKL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.2B | +5.7% |
| Q2 2026 | $4B | -13% |
| Q1 2026 | $3.6B | +4.5% |
| Q4 2025 | $4B | +4.3% |
| Q3 2025 | $3.9B | -15% |
| Q2 2025 | $4.6B | +24% |
| Q1 2025 | $3.4B | -24% |
| Q4 2024 | $3.8B | -17% |
MKL's revenue grew through 2024 and has held roughly level since: $4.2B last quarter, up 5.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.2% | -17 points |
| Q2 2026 | 39% | +15 points |
| Q1 2026 | -7.7% | -16 points |
| Q4 2025 | 20% | +4.3 points |
| Q3 2025 | 26% | -4.1 points |
| Q2 2025 | 24% | +13 points |
| Q1 2025 | 8.3% | -22 points |
| Q4 2024 | 16% | -8.9 points |
MKL's operating margin was 9.2% last quarter, down 16 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 MKL on cash flow, with more consistent year-over-year improvement.
MKL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $849.5M | -27% |
| Q2 2026 | $384.5M | -15% |
| Q1 2026 | -$31.4M | -109% |
| Q4 2025 | $599.1M | +43% |
| Q3 2025 | $1.2B | +39% |
| Q2 2025 | $453.8M | -13% |
| Q1 2025 | $335.5M | -40% |
| Q4 2024 | $420M | -42% |
MKL's free cash flow was $1.8B over the past year, down 24% from the year before. Free cash flow isn't a meaningful measure for financial services companies like MKL.
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 MKL 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.
MKL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -145K shares |
| 1 year | -1.2% | -155K shares |
| 3 years | -6.7% | -898K shares |
| 5 years | -9.7% | -1.3M shares |
| Available history | -10% | -1.4M shares |
MKL has 12M diluted shares, down 1.2% from a year ago, with $771M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $314.7M |
| Q2 2026 | $236.7M |
| Q1 2026 | $133.9M |
| Q4 2025 | $85.5M |
| Q3 2025 | $74.4M |
| Q2 2025 | $99.4M |
| Q1 2025 | $170.3M |
| Q4 2024 | $183.6M |
MKL spent $771M buying back its own shares over the past year, up 46% 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.
MKL 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).
MKL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.1 | Neutral |
| Stochastic | 71.7 | Neutral |
MKL's weekly RSI is 60 (neutral) and its Stochastic is 72 (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 has the edge over MKL on valuation relative to its sector.
MKL PE vs Financial Services Sector
| Metric | MKL | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 7.5% above |
| PE % | 72 | 63 | 9 pts above |
MKL is trading at 14x earnings, in line with 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.
MKL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1,839.6 | 6.7% above |
| 20 week MA | $1,861.0 | 5.4% above |
| 50 week MA | $1,928.6 | 1.7% above |
| 100 week MA | $1,914.7 | 2.5% above |
| 200 week MA | $1,694.0 | 16% above |
MKL 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.
MKL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1,122.4 | $990.9 | -12% |
| 2021 | $990.9 | $1,208.7 | +22% |
| 2022 | $1,208.7 | $1,307.6 | +8.2% |
| 2023 | $1,307.6 | $1,419.9 | +8.6% |
| 2024 | $1,419.9 | $1,740.4 | +23% |
| 2025 | $1,740.4 | $2,181.5 | +25% |
| 2026 YTD | $2,181.5 | $1,962.1 | -10% |
MKL has the edge over BAC on returns for 2026, with the stronger performance.