Bank of America vs JPMorgan Chase
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The short version
- JPMorgan Chase is the larger business, with $182.4B of revenue in fiscal 2025 against $113.1B for Bank of America, about 1.6 times as much.
- Bank of America grew revenue faster (6.8%, against 2.8%).
- Investors pay more for each dollar of JPMorgan Chaseβs earnings: a P/E of 14.2x against 11.6x for Bank of America.
| Latest fiscal year | BAC Β· FY25 | JPM Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $388.3B | $922.3B |
| Revenue | $113.1B | $182.4B |
| Free cash flow | β | β |
| Net income | $30.5B | $57.0B |
| Growth | ||
| Revenue growth | 6.8% | 2.8% |
| 5-year growth | 5.8% | 8.8% |
| Share count change | β3.2% | β3.4% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 27.0% | 31.3% |
| FCF margin | β | β |
| Return on capital | β | β |
| Return on equity | 10.2% | 16.1% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $31.0B | $48.2B |
| Valuation & quality | ||
| P/E | 11.6x | 14.2x |
| Piotroski F-score | β | β |
Revenue
FY16
BAC $83.7B
JPM $96.6B
FY17
BAC $87.1B
JPM $100.7B
FY18
BAC $91.0B
JPM $108.8B
FY19
BAC $91.2B
JPM $115.7B
FY20
BAC $85.5B
JPM $120.0B
FY21
BAC $89.1B
JPM $121.6B
FY22
BAC $95.0B
JPM $128.7B
FY23
BAC $102.8B
JPM $158.1B
FY24
BAC $105.9B
JPM $177.6B
FY25
BAC $113.1B
JPM $182.4B
BAC
JPM
Operating margin
FY16
BAC β
JPM β
FY17
BAC β
JPM β
FY18
BAC β
JPM β
FY19
BAC β
JPM β
FY20
BAC β
JPM β
FY21
BAC β
JPM β
FY22
BAC β
JPM β
FY23
BAC β
JPM β
FY24
BAC β
JPM β
FY25
BAC β
JPM β
BAC
JPM
Free cash flow
FY16
BAC β
JPM β
FY17
BAC β
JPM β
FY18
BAC β
JPM β
FY19
BAC β
JPM β
FY20
BAC β
JPM β
FY21
BAC β
JPM β
FY22
BAC β
JPM β
FY23
BAC β
JPM β
FY24
BAC β
JPM β
FY25
BAC β
JPM β
BAC
JPM
Return on capital
FY16
BAC β
JPM β
FY17
BAC β
JPM β
FY18
BAC β
JPM β
FY19
BAC β
JPM β
FY20
BAC β
JPM β
FY21
BAC β
JPM β
FY22
BAC β
JPM β
FY23
BAC β
JPM β
FY24
BAC β
JPM β
FY25
BAC β
JPM β
BAC
JPM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.