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Bank of America Corporation (NCB) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Bank of America Corporation €36.99, price €47.49, upside -22.1%, quality 57 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Broad data
Sep 28, 2026
Bank of America Corporation
NCB · XETRAOvervalued / MonitorQuality is not strong enough to offset the price risk.
!Fair value €36.99 · Overvalued (−22.1%)
!Quality 57/100
!Mixed Growth (revenue 5y +15.4 %/yr)
✓Highly profitable · 29.5% net margin (TTM)
✓Moderate debt · generates free cash flow
✓2.4% dividend yield · Well covered
✓Wide moat 67/100
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 28, 2026.
How to read this chart
60‑month range €22.46 – €55.94 · fair‑value band €33.34 – €47.11 · the €47.49 price screens above the €36.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 28, 2026.
Company profile
Bank of America Corporation, through its subsidiaries, provides various financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide.
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Bank of America Corporation, through its subsidiaries, provides various financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets. The Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, checking accounts, and investment accounts and products; credit and debit cards; residential mortgages and home equity loans; and direct and indirect loans. The GWIM segment provides investment management, brokerage, banking, and trust and retirement products and services; wealth management solutions; and customized solutions, including specialty asset management services. The Global Banking segment offers lending products and services, including commercial loans, leases, commitment facilities, trade finance, and commercial real estate and asset-based lending; treasury solutions, and underwriting and advisory services. The Global Markets segment provides market-making, financing, securities clearing, settlement, and custody services; securities and derivative products; and risk management products using interest rate, equity, credit, currency and commodity derivatives, foreign exchange, fixed-income, and mortgage-related products. Bank of America Corporation was founded in 1784 and is based in Charlotte, North Carolina.
Stock analysis
Bank of America Corporation (NCB) currently trades at €47.49, while our model-based Fair Value estimate is €36.99, 22.1% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of €49.65 per share, and 2 of the 6 models we run sit above the €47.49 price.
Bear case: the Dividend Discount group reads lowest at €18.40, and 4 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: €33.34 (bear) to €47.11 (bull), the price of €47.49 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 57/100 (solid quality), in the Financial Services sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Bank of America Corporation reported revenue of $192B in FY2025 versus $93.9B in FY2021, a compound +19.5%/yr. Reported net income was $30.5B in FY2025, compounding −1.2%/yr from FY2021.
Key figures
Market cap €382B · P/E ratio 12.5 · P/S ratio 1.99 · EPS (TTM) €3.80 · Dividend yield 2.4% · Net margin 15.9% · Return on equity 11.2% · Return on assets (EBIT) 1.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 15% below its 52-week high and 18% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at −17% fair-value upside, at −22%, NCB screens richer than that median.
Fair Value models
Bear €33.34
Fair Value €36.99
Bull €47.11
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (€2.03 per share) are deliberately not added.
Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.
Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income
€34.14
€38.10
€49.59
76
DDM Multi-Stage
€11.51
€18.40
€26.05
66
Gordon GGM
€11.51
€25.14
€42.29
65
All 6 models by family
Dividend Discount
Gordon GGM
€11.51
€25.14
€42.29
65
DDM Multi-Stage
€11.51
€18.40
€26.05
66
Multiples
P/E Multiple
€37.24
€49.65
€62.06
63
P/B Multiple
€39.86
€53.14
€66.43
55
Asset-Based
NCAV (Graham)
€18.98
€25.43
€37.96
54
Economic Profit
Residual Income
€34.14
€38.10
€49.59
76
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Set up alert →Quality Score breakdown
Overall quality
57/100
Of which business quality 47 · Market factors (momentum, volatility) 53
Profitability
28
Margins and returns on capital today
Quality Growth
62
Are margins and returns improving?
Cashflow
43
Earnings quality: real cash, not paper profit
Fin. Strength
3
Balance sheet, leverage, solvency risk
Investment
88
Disciplined investing over empire-building
Low Volatility
65
Calm price path (market factor)
Momentum
48
Price trend over the last 3–12 months (market factor)
52W Momentum
46
Distance to the 52-week high (market factor)
Net Issuance
100
Share count: buybacks or dilution?
Revenue & earnings trend
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.
75/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−0.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+18.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.4%
Start year 2020 (pandemic). Over 10 years: +7.4% a year
Revenue growth 33 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.4%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+12.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.9%
Dividend (yield on the price)2.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.9.9% vs 12.7%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.20% → 20%
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
less than -40 %
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−5.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −7.6% a year for the forecasts.
Forecast 2026 (sales)−35.2%
Forecast 2027 (sales)+4.5%
Projected 2028 (sales)+4.2%
Projected 2029 (sales)+3.9%
Projected 2030 (sales)+3.5%
NCB screens overvalued: fair value 22% below the price. Compare with JPMorgan Chase & Co →
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: German Stocks
- Valuation of the Germany market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Banks - Diversified stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| JPMorgan Chase & Co JPM | $330.83 | $188.11 | −43% |
| Industrial and Commercial Bank of China Limited 601398 | ¥8.28 | ¥10.93 | +32% |
| China Construction Bank Corporation 601939 | ¥10.98 | ¥13.69 | +25% |
| Agricultural Bank of China Limited 601288 | ¥6.97 | ¥12.94 | +86% |
| Bank of China Limited 601988 | ¥6.62 | ¥9.86 | +49% |
| Royal Bank of Canada RY | $200.95 | $130.85 | −35% |
| Mitsubishi UFJ Financial Group MUFG | $23.37 | $14.86 | −36% |
| Wells Fargo & Company WFC | $80.05 | $66.44 | −17% |
| Citigroup Inc C | $130.80 | $107.10 | −18% |
| Banco Santander, S.A SAN | €11.81 | €8.19 | −31% |
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Frequently asked questions
Is Bank of America Corporation (NCB) overvalued or undervalued?
As of Sep 28, 2026, our model estimates a fair value of €36.99 versus a price of €47.49, about −22% upside (overvalued).
What is the fair value of NCB?
Our model-based fair value for Bank of America Corporation is €36.99 (as of Sep 28, 2026), built from audited fundamentals. The current price: €47.49.
What is the quality score of NCB?
Bank of America Corporation has a Quality Score of 57/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bank of America Corporation (NCB)?
Our model-based price target is the fair value of €36.99 (as of Sep 28, 2026) from 6 valuation models. Cautious scenario €33.34, optimistic scenario €47.11. It is a calculation from audited fundamentals, not an analyst target.
What is the Bank of America Corporation stock forecast for 2026?
Our models put fair value at €36.99, about −22% upside versus a price of €47.49 (overvalued). Cautious scenario €33.34, optimistic scenario €47.11. The calculation is refreshed regularly with new filings.
What is the revenue of Bank of America Corporation (NCB)?
Bank of America Corporation reported trailing-twelve-month revenue of about $114B (latest available figure, as of Sep 28, 2026).
Does Bank of America Corporation pay a dividend?
Bank of America Corporation currently shows a dividend yield of about 2.36% relative to its recent price (as of Sep 28, 2026).
What growth is priced into Bank of America Corporation (NCB)?
For today's price to be fair in a discounted-cash-flow model, Bank of America Corporation would have to grow free cash flow by less than minus 40 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +15.4 % per year. As of Sep 28, 2026.
What discount rate (WACC) does the fair value of NCB use?
Our models discount Bank of America Corporation at 8.9 %: a base by market capitalisation (mega), damped by beta 1.18, country premium for Germany. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Bank of America Corporation that is less than minus 40 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has Bank of America Corporation (NCB) delivered so far?
Over the past 5 years revenue at Bank of America Corporation grew +15.4 % a year. The price currently implies less than minus 40 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Bank of America Corporation (NCB) growing?
The median revenue growth in the sector is +9.2 % a year. That is the yardstick for the growth priced into Bank of America Corporation (less than minus 40 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Bank of America Corporation (NCB)?
The free-cash-flow yield on the price is 3.61 %: that much free cash flow Bank of America Corporation produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Bank of America Corporation (NCB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bank of America Corporation it is €36.99 per share (as of Sep 28, 2026), against a price of €47.49. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Bank of America Corporation stock overvalued or undervalued in 2026?
As of Sep 28, 2026, NCB trades above its calculated fair value: price €47.49, fair value €36.99, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NCB?
No. The price is what the market pays today (€47.49); the fair value is what the company's own numbers justify (€36.99). For Bank of America Corporation the two are €10.50 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bank of America Corporation worth?
The market values Bank of America Corporation at about €382B (market capitalisation, as of Sep 28, 2026). Per share that is €47.49; our models calculate a fair value of €36.99 per share.
What do the bullish and bearish scenarios say about NCB?
Our models span a range for Bank of America Corporation: cautious scenario €33.34, base €36.99, optimistic €47.11 per share (as of Sep 28, 2026, price €47.49). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is NCB from its 52-week high?
Bank of America Corporation trades at €47.49, about 15% below its 52-week high of €55.94 and 18% above the low of €40.29 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €36.99 is for.
Which stocks are comparable to Bank of America Corporation?
From the same area (Financial Services) we also value JPMorgan Chase & Co, Industrial and Commercial Bank of China Limited, China Construction Bank Corporation, Agricultural Bank of China Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bank of America Corporation stock attractive at the current price?
The data as of Sep 28, 2026: price €47.49, calculated fair value €36.99 (−22%), Quality Score 57/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NCB calculated?
We run Bank of America Corporation through 6 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €36.99, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Bank of America Corporation itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bank of America Corporation (NCB)?
The closing price on Oct 2, 2026 was €47.49. Our model-based fair value is €36.99, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bank of America Corporation right now?
Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Where does the earnings growth of Bank of America Corporation (NCB) come from?
Earnings per share at Bank of America Corporation grew +13.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +12.4 %, EBIT margin −1.4 %, tax rate +2.4 %, residual (interest, one-offs) +0.0 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Bank of America Corporation
How large is the market capitalisation of Bank of America Corporation (NCB)?
The market capitalisation of Bank of America Corporation is €382B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Bank of America Corporation (NCB)?
The price-to-earnings ratio of Bank of America Corporation is 12.5. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Bank of America Corporation (NCB)?
The price-to-sales ratio of Bank of America Corporation is 1.99 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bank of America Corporation (NCB)?
Earnings per share at Bank of America Corporation are €3.80 (price ÷ EPS = P/E 12.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bank of America Corporation (NCB)?
The dividend yield of Bank of America Corporation is 2.4% (payout 29.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bank of America Corporation (NCB)?
The net margin of Bank of America Corporation is 15.9% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Bank of America Corporation (NCB)?
The return on equity (ROE) of Bank of America Corporation is 11.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Bank of America Corporation (NCB)?
On an EBIT basis the return on assets of Bank of America Corporation is 1.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bank of America Corporation (NCB)?
The operating margin of Bank of America Corporation is 38.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bank of America Corporation (NCB)?
Revenue at Bank of America Corporation is growing +21.4% versus a year earlier (3y avg +18.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bank of America Corporation (NCB)?
Earnings per share at Bank of America Corporation are growing +36.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Bank of America Corporation (NCB) carry?
The net debt of Bank of America Corporation is $691B (fiscal year 2025, ≈ 54.8 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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