APAM
Artisan Partners Asset Management Inc.
APAM offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
JPM
JPMorgan Chase & Co.
JPM has a slight edge over APAM overall, supported by stronger modeled upside and lower modeled downside.
APAM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
APAM's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like APAM.
JPM Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
JPM's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like JPM.
APAM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.9x | $38.02 | -0.2% |
| Current | 8.9x | $38.10 | — |
| Forward | 10x | $38.10 | — |
| Fair | 12x | $50.23 | +32% |
| Expensive | 14x | $58.90 | +55% |
Historical ranges are pointers, not guarantees.
APAM has the edge over JPM in the historical PE scenario, which offers more potential upside but is not a forecast.
JPM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.7x | $231 | -33% |
| Fair | 12x | $287 | -16% |
| Current | 14x | $343 | — |
| Forward | 14x | $343 | — |
| Expensive | 15x | $361 | +5.2% |
Historical ranges are pointers, not guarantees.
JPM's PE is in its expensive range at 14.4x. If earnings grow as analysts expect, today's price would be 13.7x next year's earnings.
APAM Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| High |
Analysts expect APAM's earnings and profitability to decline, with its revenue holding steady.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over APAM on the outlook, with more favorable valuation and earnings expectations.
APAM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.68 | -14% |
| Q3 2026 | $4.27 | +16% |
| Q2 2026 | $4.16 | +10% |
| Q1 2026 | $3.99 | +9.6% |
| Q4 2025 | $4.05 | +11% |
| Q3 2025 | $3.68 | +1.7% |
| Q2 2025 | $3.78 | +13% |
| Q1 2025 | $3.64 | +10% |
| Q4 2024 | $3.66 | +15% |
APAM's earnings per share have climbed steadily: $4.27 over the past year, up 16% from the year before, and higher year over year for 12 quarters in a row.
JPM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $24.99 | +4.8% |
| Q3 2026 | $23.85 | +18% |
| Q2 2026 | $23.35 | +20% |
| Q1 2026 | $20.89 | +2.5% |
| Q4 2025 | $20.02 | +1.4% |
| Q3 2025 | $20.20 | +12% |
| Q2 2025 | $19.50 | +8.7% |
| Q1 2025 | $20.38 | +23% |
| Q4 2024 | $19.75 | +22% |
JPM has the edge over APAM on earnings, with stronger typical year-over-year growth.
APAM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $312.5M | +3.7% |
| Q2 2026 | $307.9M | +8.9% |
| Q1 2026 | $303M | +9.3% |
| Q4 2025 | $335.5M | +13% |
| Q3 2025 | $301.3M | +7.8% |
| Q2 2025 | $282.7M | +4.4% |
| Q1 2025 | $277.1M | +4.8% |
| Q4 2024 | $297.1M | +19% |
APAM's revenue has grown year over year for 13 quarters in a row: $313M last quarter, up 3.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | +1.3 points |
| Q2 2026 | 27% | -0.7 points |
| Q1 2026 | 31% | -0.1 points |
| Q4 2025 | 39% | +2.5 points |
| Q3 2025 | 34% | +0.5 points |
| Q2 2025 | 28% | -3.8 points |
| Q1 2025 | 31% | +1.8 points |
| Q4 2024 | 37% | +6.1 points |
APAM's operating margin was 35% last quarter, up 1.3 points from the same quarter a year ago.
JPM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $50.2B | +8.1% |
| Q2 2026 | $57.3B | +28% |
| Q1 2026 | $49.8B | +10% |
| Q4 2025 | $45.8B | +7.1% |
| Q3 2025 | $46.4B | +8.8% |
| Q2 2025 | $44.9B | -11% |
| Q1 2025 | $45.3B | +8.1% |
| Q4 2024 | $42.8B | +11% |
JPM's revenue has grown year over year for five quarters in a row: $50.2B last quarter, up 8.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 40% | -0.2 points |
| Q2 2026 | 48% | +7.3 points |
| Q1 2026 | 41% | +0.5 points |
| Q4 2025 | 37% | -3.2 points |
| Q3 2025 | 40% | +0.6 points |
| Q2 2025 | 41% | -6 points |
| Q1 2025 | 41% | -0.6 points |
| Q4 2024 | 41% | +11 points |
JPM has the edge over APAM on profitability, with a higher operating margin.
APAM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $108.4M | +168% |
| Q2 2026 | $115.4M | +127% |
| Q1 2026 | $181.2M | +15% |
| Q4 2025 | -$77.3M | -311% |
| Q3 2025 | $40.4M | -64% |
| Q2 2025 | $50.9M | -32% |
| Q1 2025 | $157.7M | +7.3% |
| Q4 2024 | $36.7M | +$48.2M |
APAM has the edge over JPM on cash generation, producing positive trailing cash flow while its opponent burns cash.
JPM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $33.2B | +$78.4B |
| Q2 2026 | -$25.3B | -186% |
| Q1 2026 | -$211.8B | +$40.1B |
| Q4 2025 | $119.7B | -19% |
| Q3 2025 | -$45.2B | +$28.9B |
| Q2 2025 | $29.5B | -23% |
| Q1 2025 | -$251.8B | -$97.7B |
| Q4 2024 | $147.8B | +145% |
JPM's free cash flow was −$84.2B over the past year, against −$120B the year before. Free cash flow isn't a meaningful measure for financial services companies like JPM.
APAM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +24.4K shares |
| 1 year | +1.1% | +713K shares |
| 3 years | +4.5% | +2.9M shares |
| 5 years | +18% | +10M shares |
APAM has 66M diluted shares, up 1.1% from a year ago.
JPM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.4% | -11.2M shares |
| 1 year | -3.1% | -84.6M shares |
| 3 years | -8.5% | -249M shares |
| 5 years | -11% | -322M shares |
| Available history | -17% | -547M shares |
JPM has the edge over APAM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.1B |
| Q2 2026 | $6.8B |
| Q1 2026 | $8.3B |
| Q4 2025 | $8.3B |
| Q3 2025 | $8.3B |
| Q2 2025 | $7.5B |
| Q1 2025 | $7.5B |
| Q4 2024 | $4.3B |
JPM spent $24.5B buying back its own shares over the past year, down 11% from the year before.
APAM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.3x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.4x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.2x | Net Cash |
APAM has the edge over JPM on leverage, with a lower net debt burden relative to earnings.
JPM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.5x | Very low |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.5x | Very low |
| Q1 2025 | 0.5x | Very low |
| Q4 2024 | 0.4x | Very low |
JPM's net debt is less than a year of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like JPM.
APAM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.1 | Neutral |
| Stochastic | 52.8 | Neutral |
APAM's weekly RSI is 51 (neutral) and its Stochastic is 53 (neutral).
JPM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.8 | Neutral |
| Stochastic | 31.5 | Neutral |
JPM's weekly RSI is 55 (neutral) and its Stochastic is 31 (neutral).
APAM PE vs Financial Services Sector
| Metric | APAM | Sector median | Relative |
|---|---|---|---|
| PE | 8.9x | 13x | 31% below |
| PE % | 17 | 63 | 46 pts below |
APAM has the edge over JPM on valuation relative to its sector.
JPM PE vs Financial Services Sector
| Metric | JPM | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 10% above |
| PE % | 76 | 63 | 13 pts above |
JPM is trading at 14x earnings, a 10% premium to the Financial Services sector's median of 13x.
APAM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $35.5 | 7.3% above |
| 20 week MA | $38.0 | 0.3% above |
| 50 week MA | $38.8 | 1.8% below |
| 100 week MA | $40.8 | 6.6% below |
| 200 week MA | $40.3 | 5.5% below |
APAM has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 5.5% below its 200-week average.
JPM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $336.8 | 1.8% above |
| 20 week MA | $345.3 | 0.7% below |
| 50 week MA | $323.2 | 6.1% above |
| 100 week MA | $298.9 | 15% above |
| 200 week MA | $236.6 | 45% above |
JPM has the edge over APAM on trend strength, trading above more of its moving averages.
APAM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.2 | $49.9 | +55% |
| 2021 | $49.9 | $47.0 | -5.9% |
| 2022 | $47.0 | $30.8 | -34% |
| 2023 | $30.8 | $44.2 | +43% |
| 2024 | $44.2 | $44.0 | -0.5% |
| 2025 | $44.0 | $41.8 | -4.9% |
| 2026 YTD | $41.8 | $38.1 | -8.9% |
APAM has finished lower in four of the last six years. It's down 8.9% so far in 2026.
JPM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $139.1 | $124.5 | -11% |
| 2021 | $124.5 | $157.3 | +26% |
| 2022 | $157.3 | $131.3 | -17% |
| 2023 | $131.3 | $170.1 | +30% |
| 2024 | $170.1 | $241.2 | +42% |
| 2025 | $241.2 | $327.9 | +36% |
| 2026 YTD | $327.9 | $342.8 | +4.5% |
JPM has the edge over APAM on returns for 2026, with the stronger performance.