BAC
Bank of America Corporation
BAC has the edge over XP overall, supported by stronger fundamentals and stronger valuation.
XP
XP Inc.
XP'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.
XP Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
XP's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like XP.
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.
XP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 8.3x | $15.04 | — |
| Cheap | 10x | $18.35 | +22% |
| Fair | 15x | $27.61 | +84% |
| Expensive | 59x | $106 | +606% |
Historical ranges are pointers, not guarantees.
XP has the edge over BAC in the historical PE scenario, which offers more potential upside but is not a forecast.
BAC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
BAC has the edge over XP on the outlook, with more favorable profitability expectations.
XP Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for XP, with profitability 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 XP on earnings, with stronger typical year-over-year growth.
XP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $1.81 | +11% |
| Q1 2026 | $1.76 | +14% |
| Q4 2025 | $1.74 | +18% |
| Q3 2025 | $1.68 | +17% |
| Q2 2025 | $1.63 | +17% |
| Q1 2025 | $1.55 | +15% |
| Q4 2024 | $1.48 | +16% |
| Q3 2024 | $1.43 | +20% |
XP's earnings per share have climbed steadily: $1.81 over the past year, up 11% from the year before, and higher year over year for 11 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 XP 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.
XP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $894.2M | +14% |
| Q1 2026 | $826.4M | +6.9% |
| Q4 2025 | $906.4M | +6.5% |
| Q3 2025 | $822.2M | +5.5% |
| Q2 2025 | $784.5M | -6% |
| Q1 2025 | $773.3M | +3.3% |
| Q4 2024 | $850.9M | +16% |
| Q3 2024 | $779.6M | +1.3% |
XP's revenue has grown year over year for four quarters in a row: $894M last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 33% | -0.1 points |
| Q1 2026 | 31% | -2.3 points |
| Q4 2025 | 33% | -0.5 points |
| Q3 2025 | 31% | -0.7 points |
| Q2 2025 | 33% | -2.9 points |
| Q1 2025 | 33% | +1.7 points |
| Q4 2024 | 33% | +3.5 points |
| Q3 2024 | 32% | +0.8 points |
XP 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.
XP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $2B | +139% |
| Q1 2026 | $124.3M | +$599.5M |
| Q4 2025 | -$437.1M | -164% |
| Q3 2025 | $2.2B | +166% |
| Q2 2025 | $832.5M | -22% |
| Q1 2025 | -$475.2M | +$132.3M |
| Q4 2024 | $679M | -9.3% |
| Q3 2024 | $818M | +$1.1B |
XP 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 XP 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.
XP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -4.8M shares |
| 1 year | -2.8% | -15.3M shares |
| 3 years | -2.1% | -11M shares |
| 5 years | -9% | -51.7M shares |
| Available history | -5.7% | -31.3M shares |
XP has 521M diluted shares, down 2.8% from a year ago, with $359M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $147.6M |
| Q1 2026 | $34.7M |
| Q4 2025 | $152.6M |
| Q3 2025 | $23.9M |
| Q2 2025 | $74.7M |
| Q1 2025 | $89.1M |
| Q4 2024 | $18.8M |
| Q3 2024 | — |
XP spent $359M buying back its own shares over the past year, up 96% 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 has the edge over XP on leverage, with a lower net debt burden relative to earnings.
XP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 12.9x | High |
| Q1 2026 | 12.8x | High |
| Q4 2025 | 11.9x | High |
| Q3 2025 | 9.7x | High |
| Q2 2025 | 10.2x | High |
| Q1 2025 | 8.4x | High |
| Q4 2024 | 17.6x | High |
| Q3 2024 | 8.0x | High |
XP's net debt is about 13 years of its operating earnings (EBITDA), up from 10 years a year ago. Net leverage isn't a meaningful measure for financial services companies like XP.
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).
XP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.4 | Neutral |
| Stochastic | 5.5 | Oversold |
XP's weekly RSI is 42 (neutral) and its Stochastic is 6 (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.
XP PE vs Financial Services Sector
| Metric | XP | Sector median | Relative |
|---|---|---|---|
| PE | 8.3x | 13x | 36% below |
| PE % | 2 | 63 | 61 pts below |
XP 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 the edge over XP on trend strength, trading above more of its moving averages.
XP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $22.3 | 33% below |
| 20 week MA | $19.4 | 22% below |
| 50 week MA | $18.7 | 19% below |
| 100 week MA | $17.6 | 14% below |
| 200 week MA | $18.8 | 20% below |
XP is in a downtrend: it's below all five of its weekly moving averages, and 20% 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 finished higher in four of the last six years. It's down 10% so far in 2026.
XP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2019 | $37.7 | $38.5 | +2.1% |
| 2020 | $38.5 | $41.4 | +7.4% |
| 2021 | $41.4 | $29.8 | -28% |
| 2022 | $29.8 | $15.5 | -48% |
| 2023 | $15.5 | $26.1 | +68% |
| 2024 | $26.1 | $12.1 | -54% |
| 2025 | $12.1 | $16.4 | +36% |
| 2026 YTD | $16.4 | $15.0 | -8.5% |
XP has the edge over BAC on returns for 2026, with the stronger performance.