Is WAFD or ZION more undervalued in 2026?

CirclFi compares WaFd, Inc. (WAFD) and Zions Bancorporation N.A. (ZION) using 13 institutional-grade valuation models. WAFD has a Quality of Company score of 8.1/10 while ZION scores 5.6/10.

Which is a better buy — WAFD or ZION?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do WAFD and ZION valuations compare?

WAFD at $35.56 and ZION at $62.45 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

WAFD vs ZION Valuation Comparison 2026 — Intrinsic Value Analysis

WAFD

National Commercial Banks

WaFd, Inc.

Quality

8.1

out of 10

Value Trap

—

Price

$35.56

Last close

Models

11/13

Active

ZION

National Commercial Banks

Zions Bancorporation N.A.

Quality

5.6

out of 10

Value Trap

SAFE

Price

$62.45

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	WAFD Fair Value	WAFD Upside	ZION Fair Value	ZION Upside
Bayesian DCF	Intrinsic	$17.34	-51.2%	$32.59	-47.8%
Earnings Power Value	Intrinsic	$35.77	+0.6%	$42.26	-32.3%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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WAFD vs ZION — Which Stock Is More Undervalued?

WAFD scores higher with a 8.1/10 quality rating vs ZION's 5.6/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing WaFd, Inc. (WAFD) and Zions Bancorporation N.A. (ZION) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

WAFD currently trades at $35.56 with a QOC of 8.1/10, while ZION trades at $62.45 with a QOC of 5.6/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).