BAC
Bank of America Corporation
BAC has the edge over NMIH overall, supported by stronger fundamentals and stronger modeled upside.
NMIH
NMI Holdings, Inc.
NMIH'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.
NMIH Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
NMIH's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like NMIH.
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 NMIH in the historical PE scenario, which offers more potential upside but is not a forecast.
NMIH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.9x | $34.99 | -10% |
| Forward | 7.3x | $38.88 | — |
| Current | 7.6x | $38.88 | — |
| Fair | 8.1x | $41.23 | +6% |
| Expensive | 9.8x | $50.07 | +29% |
Historical ranges are pointers, not guarantees.
NMIH's PE is in its fair range at 7.6x. If earnings grow as analysts expect, today's price would be 7.3x next year's earnings, in its cheap range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over NMIH on the outlook, with more favorable valuation and revenue expectations.
NMIH Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect NMIH'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 NMIH on earnings, with stronger typical year-over-year growth.
NMIH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.30 | +3.9% |
| Q3 2026 | $5.10 | +6.7% |
| Q2 2026 | $5.09 | +8.1% |
| Q1 2026 | $4.92 | +6.3% |
| Q4 2025 | $4.92 | +11% |
| Q3 2025 | $4.78 | +9.4% |
| Q2 2025 | $4.71 | +12% |
| Q1 2025 | $4.63 | +15% |
| Q4 2024 | $4.43 | +15% |
NMIH's earnings per share have climbed steadily: $5.10 over the past year, up 6.7% from the year before, and higher year over year for 21 quarters in a row.
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 NMIH on sales, with stronger typical year-over-year growth.
| 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.
NMIH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $187.6M | +5% |
| Q2 2026 | $187.9M | +8.1% |
| Q1 2026 | $183.5M | +5.9% |
| Q4 2025 | $180.7M | +8.5% |
| Q3 2025 | $178.7M | +7.6% |
| Q2 2025 | $173.8M | +7.2% |
| Q1 2025 | $173.2M | +11% |
| Q4 2024 | $166.5M | +10% |
NMIH's revenue has grown year over year every quarter since late 2020: $188M last quarter, up 5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 64% | -5.1 points |
| Q2 2026 | 73% | +1.8 points |
| Q1 2026 | 68% | -7.7 points |
| Q4 2025 | 67% | +0.4 points |
| Q3 2025 | 69% | -2.6 points |
| Q2 2025 | 71% | -2.1 points |
| Q1 2025 | 76% | +2.5 points |
| Q4 2024 | 67% | -2.9 points |
NMIH 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.
NMIH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $108.9M | -14% |
| Q2 2026 | $140.2M | +11% |
| Q1 2026 | $115M | +16% |
| Q4 2025 | $60.1M | +75% |
| Q3 2025 | $126.3M | -0.5% |
| Q2 2025 | $126.7M | +9.3% |
| Q1 2025 | $99.4M | -9.1% |
| Q4 2024 | $34.4M | +20% |
NMIH 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 NMIH 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.
NMIH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -468K shares |
| 1 year | -3.4% | -2.7M shares |
| 3 years | -9% | -7.6M shares |
| 5 years | -12% | -10.8M shares |
| Available history | +8.3% | +5.8M shares |
NMIH has 76M diluted shares, down 3.4% from a year ago, with $118M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $27.1M |
| Q2 2026 | $32.3M |
| Q1 2026 | $27.7M |
| Q4 2025 | $30.6M |
| Q3 2025 | $24.6M |
| Q2 2025 | $24M |
| Q1 2025 | $25.9M |
| Q4 2024 | $28.7M |
NMIH spent $118M buying back its own shares over the past year, up 14% 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.
NMIH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 0.7x | Very low |
| Q4 2025 | 0.7x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.7x | Very low |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.8x | Very low |
NMIH 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).
NMIH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.6 | Neutral |
| Stochastic | 38.6 | Neutral |
NMIH's weekly RSI is 43 (neutral) and its Stochastic is 39 (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.
NMIH PE vs Financial Services Sector
| Metric | NMIH | Sector median | Relative |
|---|---|---|---|
| PE | 7.6x | 13x | 41% below |
| PE % | 32 | 63 | 31 pts below |
NMIH 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.
NMIH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.5 | 4% below |
| 20 week MA | $42.4 | 8.3% below |
| 50 week MA | $40.2 | 3.2% below |
| 100 week MA | $38.8 | 0.1% above |
| 200 week MA | $34.6 | 12% above |
NMIH 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.
NMIH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.6 | $22.8 | -32% |
| 2021 | $22.8 | $21.3 | -6.2% |
| 2022 | $21.3 | $20.6 | -3.4% |
| 2023 | $20.6 | $29.7 | +44% |
| 2024 | $29.7 | $36.7 | +24% |
| 2025 | $36.7 | $41.4 | +13% |
| 2026 YTD | $41.4 | $38.9 | -6.1% |
NMIH has the edge over BAC on returns for 2026, with the stronger performance.