BAC
Bank of America Corporation
BAC has the edge over TSLX overall, supported by stronger valuation and stronger fundamentals.
TSLX
Sixth Street Specialty Lending, Inc.
TSLX trails on the overall score without a compensating advantage in the available component scores.
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.
TSLX Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
TSLX's profitability is currently healthy, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like TSLX.
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 TSLX in the historical PE scenario, which offers more potential upside but is not a forecast.
TSLX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $6.81 | -61% |
| Forward | 9.5x | $17.56 | — |
| Fair | 10x | $8.45 | -52% |
| Expensive | 13x | $11.26 | -36% |
| Current | 21x | $17.56 | — |
Historical ranges are pointers, not guarantees.
TSLX's PE is in its expensive range at 21x. On analysts' estimates for next year's earnings, today's price would be 9.5x, in its fair range.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over TSLX on the outlook, with more favorable earnings and revenue expectations.
TSLX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect TSLX's profitability to weaken, with its earnings and 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 TSLX on earnings, with more consistent year-over-year improvement.
TSLX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.86 | +121% |
| Q3 2026 | $0.84 | -59% |
| Q2 2026 | $0.95 | -53% |
| Q1 2026 | $1.15 | -39% |
| Q4 2025 | $1.81 | -11% |
| Q3 2025 | $2.04 | -1.4% |
| Q2 2025 | $2.01 | -15% |
| Q1 2025 | $1.89 | -24% |
| Q4 2024 | $2.03 | -22% |
TSLX's earnings per share have fallen from their peak: $0.84 over the past year, against $4.08 in early 2021.
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 stronger quarterly revenue trend. Revenue is up 6.7% for BAC versus down 97% for TSLX.
| 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.
TSLX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $2.5M | -97% |
| Q1 2022 | $54M | -22% |
| Q4 2021 | $56.7M | -14% |
| Q3 2021 | $68.2M | -29% |
| Q2 2021 | $71.8M | -35% |
| Q4 2020 | $65.8M | +20% |
TSLX's revenue has slid since its 2020 peak: $2M last quarter, down 97% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | -521% | -603 points |
| Q1 2022 | 76% | -5.8 points |
| Q4 2021 | 76% | -7.4 points |
| Q3 2021 | 81% | -7.1 points |
| Q2 2021 | 82% | -6.7 points |
| Q1 2021 | 82% | N/A |
| Q4 2020 | 84% | +14 points |
| Q3 2020 | 88% | N/A |
TSLX's operating margin was −521% last quarter, down 603 points from the same quarter a year ago, near the bottom of its range since 2019.
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.
TSLX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$97.4M | -$81.8M |
| Q2 2026 | $68.3M | -65% |
| Q1 2026 | -$23.4M | -116% |
| Q4 2025 | $74.1M | +$104.8M |
| Q3 2025 | -$15.6M | +$58.9M |
| Q2 2025 | $193.2M | +54% |
| Q1 2025 | $149.9M | +$215.5M |
| Q4 2024 | -$30.7M | +$56.1M |
TSLX 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 TSLX 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.
TSLX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +326K shares |
| 1 year | +1.2% | +1.1M shares |
| 3 years | +9.3% | +8.1M shares |
| 5 years | +18% | +14.8M shares |
| Available history | +43% | +28.7M shares |
TSLX has 95M diluted shares, up 1.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2022 | $3.2M |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
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.
TSLX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 9.8x | High |
| Q1 2022 | 5.6x | High |
| Q4 2021 | 5.5x | High |
| Q3 2021 | 4.9x | High |
| Q2 2021 | 5.1x | High |
| Q1 2021 | 3.6x | Elevated |
| Q4 2020 | 6.0x | High |
| Q3 2020 | 5.5x | High |
TSLX's net debt is about 9.8 years of its operating earnings (EBITDA), up from 5.1 years a year ago. Net leverage isn't a meaningful measure for financial services companies like TSLX.
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).
TSLX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.7 | Neutral |
| Stochastic | 37.0 | Neutral |
TSLX's weekly RSI is 46 (neutral) and its Stochastic is 37 (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 TSLX on valuation relative to its sector.
TSLX PE vs Financial Services Sector
| Metric | TSLX | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 13x | 61% above |
| PE % | 100 | 63 | 37 pts above |
TSLX is trading at 21x earnings, a 61% 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.
TSLX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $17.6 | 0% above |
| 20 week MA | $17.8 | 1.3% below |
| 50 week MA | $18.7 | 5.8% below |
| 100 week MA | $20.6 | 15% below |
| 200 week MA | $20.4 | 14% below |
TSLX is in a downtrend: it's below all five of its weekly moving averages, and 14% 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 TSLX on returns for 2026, with the stronger performance.
TSLX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $21.5 | $20.7 | -3.6% |
| 2021 | $20.7 | $23.1 | +11% |
| 2022 | $23.1 | $17.7 | -23% |
| 2023 | $17.7 | $21.6 | +22% |
| 2024 | $21.6 | $21.1 | -2.1% |
| 2025 | $21.1 | $21.7 | +2.7% |
| 2026 YTD | $21.7 | $17.6 | -19% |
TSLX has finished lower in three of the last six years. It's down 19% so far in 2026.