BAC vs RY: Bank of America and Royal Bank of Canada compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Bank of America is the larger company, worth $384.9B, about 1.4 times Royal Bank of Canada.
- Bank of America grew revenue faster over the last year (+15.0% vs +7.3%).
- On earnings, Bank of America is the cheaper stock (13.5x vs 18.5x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | BAC | RY |
|---|---|---|
| Market cap | $384.9B | $272.2B |
| Share price | $54.32 | $191.91 |
| Revenue (last fiscal year) | $113.1B | $66.6B |
| Free cash flow (last fiscal year) | — | — |
| Revenue growth, last year | +15.0% | +7.3% |
| Revenue growth per year, last 5 fiscal years | +6.1% | +7.6% |
| Operating margin | — | — |
| Net margin | 27.8% | 31.0% |
| Return on equity | 11.2% | 15.0% |
| P/E (trailing) | 13.5x | 18.5x |
| Price / free cash flow | 30.5x | 5.14x |
| EV / EBITDA | 7.75x | — |
| FCF growth the price implies | — | — |
| Dividend yield | 2.0% | 3.1% |
| Debt / equity | 10.6x | 15.8x |
| Fundamental grade | C | C |
| Superinvestors holding it | 24 | 2 |
| Insider purchases, last 12 months | 8 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Bank of America
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $89.1B | — | — |
| 2022 | $95.0B | — | — |
| 2023 | $102.8B | — | — |
| 2024 | $105.9B | — | — |
| 2025 | $113.1B | — | — |
Royal Bank of Canada
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $49.7B | — | — |
| 2022 | $49.0B | — | — |
| 2023 | $51.5B | — | — |
| 2024 | $57.3B | — | — |
| 2025 | $66.6B | — | — |
Where the revenue comes from
Bank of America · by regions, 2025
U.S.$97.7B86%
Europe, Middle East and Africa$7.6B7%
Asia$6.0B5%
Latin America and the Caribbean$1.8B2%
Royal Bank of Canada · by segments, 2025
Wealth Management$22.4B34%
Personal Banking$19.9B30%
Capital Markets$14.4B22%
Commercial Banking$8.6B13%
Insurance$1.3B2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open BAC in InvestinglyQuestions
Which is bigger, Bank of America or Royal Bank of Canada?
Bank of America (BAC), at $384.9B against $272.2B.
Is BAC or RY cheaper?
By trailing P/E, Bank of America (13.5x) is cheaper than Royal Bank of Canada (18.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, BAC or RY?
Bank of America: revenue grew +15.0% over the last year, against +7.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.