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Bank of America cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$6.5B in Q3 2026 · $41.4B over twelve months

Operating cash flow−$6.5B
Free cash flow−$6.5B
Cash / net income-0.9×

Analysis

In Q3 2026, Bank of America generated −$6.5B of operating cash flow. That is $53.4B less than in Q3 2025 ($46.9B).

Over the twelve months to Sep 30, 2026, operating cash flow was $41.4B; the largest uses were other investing ($36.7B), buybacks ($25.6B), dividends ($9.9B); besides operations, cash came from net borrowing (+) / repaid (−) ($28.3B), other financing ($6.9B); the cash balance rose by $3.1B.

Operating cash flow was −$6.5B against net income of $6.9B — -0.9× profit, less cash than reported earnings, worth checking against working capital. The largest differences: accrued liabilities −$39.3B, prepaid and other assets +$17.8B, other operating capital −$1.6B.

Free cash flow

Bank of America: free cash flow by quarterBank of America: free cash flow by quarter$25.9BQ4 2024−$2.2BQ1 2025−$9.1BQ2 2025$46.9BQ3 2025−$22.9BQ4 2025$41.8BQ1 2026$29.0BQ2 2026−$6.5BQ3 2026
Operating cash flow less capital spending.
Bank of America: operating cash flow against capital spendingBank of America: operating cash flow against capital spendingOperating cash flowCapital spending$25.9B$0Q4 2024−$2.2B$0Q1 2025−$9.1B$0Q2 2025$46.9B$0Q3 2025−$22.9B$0Q4 2025$41.8B$0Q1 2026$29.0B$0Q2 2026−$6.5B$0Q3 2026
Latest (Q3 2026): Operating cash flow −$6.5B, Capital spending $0.

Capital allocation, year by year

Bank of America: where the cash came from (up) and went (down), by fiscal yearBank of America: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedBuybacksDividendsFY2021: Operating cash flow −$7.2BFY2021: Net borrowing $34.3BFY2021: Shares issued $2.2BFY2021: Buybacks −$25.1BFY2021: Dividends −$8.1B$36.5BFY2021FY2022: Operating cash flow −$6.3BFY2022: Net borrowing $35.0BFY2022: Shares issued $4.4BFY2022: Buybacks −$5.1BFY2022: Dividends −$8.6B$39.5BFY2022FY2023: Operating cash flow $45.0BFY2023: Net borrowing $26.0BFY2023: Buybacks −$4.6BFY2023: Dividends −$9.1B$71.0BFY2023FY2024: Operating cash flow −$8.8BFY2024: Net borrowing −$1.2BFY2024: Buybacks −$13.1BFY2024: Dividends −$9.5BFY2024FY2025: Operating cash flow $12.6BFY2025: Net borrowing $28.5BFY2025: Shares issued $5.5BFY2025: Buybacks −$21.4BFY2025: Dividends −$9.6B$46.6BFY2025
Over these 5 years operating cash flow totalled $35.3B; the largest uses were buybacks ($69.3B) and dividends ($44.8B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$249.6B
Debt$339.1B
Net debt$89.4B
Due within a year$41.7B
Cash runway9.6 years

Bank of America is burning cash: its operations consume cash, a free cash flow of −$26.0B a year at the current rate against $249.6B of cash and investments: a runway of about 9.6 years; $41.7B of debt also comes due within a year, which the cash covers before any new financing.

Bank of America: debt maturities by year (FY2025)Bank of America: debt maturities by year (FY2025)$41.7BYear 1$41.2BYear 2$40.5BYear 3$31.4BYear 4$15.7BYear 5$147.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $249.6B of cash and investments now.

Where the cash came from and went

Bank of America: sources (+) and uses (−) of cash, Q3 2026Bank of America: sources (+) and uses (−) of cash, Q3 2026Other investing$47.6BCash drawn (+) / kept (−)−$19.9BNet borrowing (+) / repaid (−)−$9.7BOperating cash flow−$6.5BBuybacks−$6.0BOther financing−$3.1BDividends−$2.6BExchange rates$249M
Bank of America: sources (+) and uses (−) of cash, TTM to Q3 2026Bank of America: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$41.4BOther investing−$36.7BNet borrowing (+) / repaid (−)$28.3BBuybacks−$25.6BDividends−$9.9BOther financing$6.9BCash drawn (+) / kept (−)−$3.1BExchange rates−$1.2B

From profit to cash

Bank of America: net income to operating cash flow, Q3 2026Bank of America: net income to operating cash flow, Q3 2026Net income$6.9BDepreciation & amortization$630MStock-based pay$1.0BDeferred taxes−$72.0MAccrued liabilities−$39.3BPrepaid and other assets$17.8BOther operating capital−$1.6BOperating cash flow−$6.5B
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$6.5B−$6.0B−$2.6B−$9.7B—−$19.9B−$6.5B
Q2 2026$29.0B−$6.0B−$2.3B$17.0B—$12.7B$29.0B
Q1 2026$41.8B−$7.2B−$2.6B$21.3B—−$10.6B$41.8B
Q4 2025−$22.9B−$6.3B−$2.4B−$238M—$14.7B−$22.9B
Q3 2025$46.9B−$5.3B−$2.5B$3.3B$2.5B$19.5B$46.9B
Q2 2025−$9.1B−$5.3B−$2.2B$10.1B—$7.6B−$9.1B
Q1 2025−$2.2B−$4.5B−$2.6B$13.5B—$16.5B−$2.2B
Q4 2024$25.9B−$3.5B−$2.3B$1.3B—$5.5B$25.9B

Bank of America: income statement and cash flow

Bank of America, Q3 2026: revenue $30.0B (+3% year over year), operating margin 29.9%. The chart follows the revenue to costs, profit and cash.

Bank of America: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.