Bank of America or JPMorgan Chase: which stock is cheaper in 2026?
As of October 5, 2026, Bank of America (BAC) trades at 12.4× earnings (P/E) and JPMorgan Chase (JPM) at 14.3×, according to Kaplio. The median across the 335 banking companies above $2bn in Kaplio's universe is 12.9×. Kaplio's verdict: Bank of America, cheap; JPMorgan Chase, fairly priced. Value range by multiples: $55–$75 for Bank of America and $223–$269 for JPMorgan Chase. Against its own value range, Bank of America is the cheaper of the two today.
According to the Kaplio Summary
The same verdict as each company's page: price range by multiples, the four lights, the expected return if consensus is right and what Buffett and Lynch would say today.
| Bank of America (BAC) | JPMorgan Chase (JPM) | |
|---|---|---|
| Summary valuation | cheap ($55–$75) | fairly priced ($223–$269) |
| The four lights | Valuation: P/B 1.3× (justified) Business: ROTCE 13.0 % (passes, near the threshold) Balance sheet: Capital/assets 8.9 % (solid) Results: 8 of 8 (on track) | Valuation: P/B 2.5× (fairly priced) Business: ROTCE 19.1 % (excellent) Balance sheet: Capital/assets 8.2 % (passes, near the threshold) Results: 7 of 8 (on track) |
| Expected return (per year) | — | — |
| Buffett method | outside his circle | outside his circle |
| Lynch method | asset play · approves | asset play · approves |
Metrics side by side
| Metric | Bank of America (BAC) | JPMorgan Chase (JPM) |
|---|---|---|
| Overview | ||
| Market Cap | $381B | $891B |
| Price | $53.75 | $332.38 |
| Valuation | ||
| P/E | 12.4× | 14.3× |
| P/B | 1.3× | 2.5× |
| P/S | 2.0× | 3.0× |
| EV/EBITDA | — | — |
| FCF Yield | — | — |
| Dividend Yield | 2.2 % | 1.8 % |
| Profitability | ||
| ROIC | 1.0 % | 3.2 % |
| ROE | 11.1 % | 17.8 % |
| Gross Margin | — | — |
| Operating Margin | 22.5 % | 28.2 % |
| Net Margin | 17.2 % | 21.9 % |
| Growth | ||
| Revenue 5Y CAGR | 15.4 % | 16.6 % |
| EPS 5Y CAGR | 15.6 % | 17.7 % |
| FCF 5Y CAGR | — | — |
| Balance Sheet | ||
| Net Debt / EBITDA | — | — |
| Debt / Equity | 2.4× | 3.3× |
Trailing twelve months where available; otherwise the latest fiscal year. Growth: five-year compound annual rate.