BAC
Bank of America Corporation
BAC offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
RJF
Raymond James Financial, Inc.
RJF has a slight edge over BAC overall on the model 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.
RJF Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
RJF's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like RJF.
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 RJF in the historical PE scenario, which offers more potential upside but is not a forecast.
RJF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $167 | — |
| Cheap | 13x | $145 | -13% |
| Fair | 15x | $169 | +0.8% |
| Current | 15x | $167 | — |
| Expensive | 17x | $190 | +14% |
Historical ranges are pointers, not guarantees.
RJF's PE is in its fair range at 15x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for BAC, with profitability improving.
RJF Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for RJF, 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 has the edge over RJF on earnings, with more consistent year-over-year improvement.
RJF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $14.31 | +25% |
| Q2 2026 | $11.48 | +13% |
| Q1 2026 | $10.59 | +2% |
| Q4 2025 | $10.23 | -0.1% |
| Q3 2025 | $10.30 | +6.2% |
| Q2 2025 | $10.19 | +15% |
| Q1 2025 | $10.38 | +25% |
| Q4 2024 | $10.24 | +28% |
| Q3 2024 | $9.70 | +22% |
RJF earned $11.48 per share over the past year, up 13% 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.
RJF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $3.9B | +16% |
| Q1 2026 | $3.9B | +13% |
| Q4 2025 | $3.7B | +5.6% |
| Q3 2025 | $3.7B | +7.7% |
| Q2 2025 | $3.4B | +5.3% |
| Q1 2025 | $3.4B | +9.1% |
| Q4 2024 | $3.5B | +17% |
| Q3 2024 | $3.5B | +13% |
RJF has the edge over BAC on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2025 | 17% | -2 points |
| Q2 2025 | 17% | -3.4 points |
| Q1 2025 | 20% | +0.2 points |
| Q4 2024 | 21% | +0.3 points |
| Q3 2024 | 19% | -0.4 points |
| Q2 2024 | 20% | +3.2 points |
| Q1 2024 | 20% | +0.1 points |
| Q4 2023 | 21% | -2.5 points |
RJF's operating margin was 17% last quarter, down 2 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'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.
RJF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$308M | -149% |
| Q1 2026 | $1.1B | +1385% |
| Q4 2025 | -$56M | -107% |
| Q3 2025 | $752M | +63% |
| Q2 2025 | $634M | -3.2% |
| Q1 2025 | $71M | -79% |
| Q4 2024 | $789M | +60% |
| Q3 2024 | $460M | +20% |
RJF's free cash flow was $1.4B over the past year, down 26% from the year before. Free cash flow isn't a meaningful measure for financial services companies like RJF.
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 RJF 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.
RJF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -2M shares |
| 1 year | -4% | -8.3M shares |
| 3 years | -8.2% | -17.6M shares |
| 5 years | -6.8% | -14.4M shares |
| Available history | -8.7% | -18.8M shares |
RJF has 197M diluted shares, down 4% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2023 | $302M |
| Q1 2023 | $369M |
| Q4 2022 | $189M |
| Q2 2022 | $101M |
| Q1 2022 | $8M |
| Q4 2021 | $51M |
| Q3 2021 | $1M |
| Q2 2021 | $48M |
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.
RJF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -2.3x | Net Cash |
| Q2 2025 | -2.0x | Net Cash |
| Q1 2025 | -2.1x | Net Cash |
| Q4 2024 | -2.1x | Net Cash |
| Q3 2024 | -2.5x | Net Cash |
| Q2 2024 | -1.9x | Net Cash |
| Q1 2024 | -2.3x | Net Cash |
| Q4 2023 | -2.5x | Net Cash |
RJF has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like RJF.
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).
RJF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.7 | Neutral |
| Stochastic | 32.1 | Neutral |
RJF's weekly RSI is 55 (neutral) and its Stochastic is 32 (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 RJF on valuation relative to its sector.
RJF PE vs Financial Services Sector
| Metric | RJF | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 12% above |
| PE % | 47 | 63 | 16 pts below |
RJF is trading at 15x earnings, a 12% 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.
RJF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $159.8 | 4.7% above |
| 20 week MA | $167.6 | 0.2% below |
| 50 week MA | $160.7 | 4.1% above |
| 100 week MA | $158.2 | 5.7% above |
| 200 week MA | $136.0 | 23% above |
RJF 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.
RJF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $60.2 | $62.0 | +2.9% |
| 2021 | $62.0 | $99.4 | +60% |
| 2022 | $99.4 | $107.4 | +8% |
| 2023 | $107.4 | $111.5 | +3.9% |
| 2024 | $111.5 | $156.9 | +41% |
| 2025 | $156.9 | $165.3 | +5.3% |
| 2026 YTD | $165.3 | $167.3 | +1.2% |
RJF has the edge over BAC on returns for 2026, with the stronger performance.