ARCC
Ares Capital Corporation
ARCC trails on the overall score without a compensating advantage in the available component scores.
JPM
JPMorgan Chase & Co.
JPM has the edge over ARCC overall, supported by stronger valuation and stronger fundamentals.
ARCC Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
ARCC's profitability is currently healthy, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like ARCC.
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.
ARCC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.2x | $7.54 | -61% |
| Fair | 9.8x | $11.94 | -38% |
| Forward | 9.9x | $19.11 | — |
| Expensive | 15x | $17.95 | -6.1% |
| Current | 16x | $19.11 | — |
Historical ranges are pointers, not guarantees.
ARCC's PE is in its expensive range at 16x. On analysts' estimates for next year's earnings, today's price would be 9.9x, in its fair range.
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 has the edge over ARCC in the historical PE scenario, which offers more potential upside but is not a forecast.
ARCC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect ARCC's profitability to weaken, with its earnings and revenue holding steady.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
ARCC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.92 | +58% |
| Q3 2026 | $1.22 | -39% |
| Q2 2026 | $1.35 | -34% |
| Q1 2026 | $1.63 | -20% |
| Q4 2025 | $1.86 | -24% |
| Q3 2025 | $1.99 | -24% |
| Q2 2025 | $2.04 | -29% |
| Q1 2025 | $2.04 | -30% |
| Q4 2024 | $2.44 | -9% |
ARCC's earnings per share have fallen from their peak: $1.22 over the past year, against $3.89 in mid-2021.
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 ARCC on earnings, with more consistent year-over-year improvement.
ARCC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $230M | -61% |
| Q1 2022 | $375M | -27% |
| Q4 2021 | $505M | +6.1% |
| Q3 2021 | $444M | -17% |
| Q2 2021 | $585M | +59% |
| Q4 2020 | $476M | +61% |
JPM has the stronger quarterly revenue trend. Revenue is down 61% for ARCC versus up 8.1% for JPM.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 53% | -31 points |
| Q1 2022 | 60% | -14 points |
| Q4 2021 | 77% | -3.6 points |
| Q3 2021 | 76% | -7.3 points |
| Q2 2021 | 84% | +7 points |
| Q1 2021 | 73% | N/A |
| Q4 2020 | 81% | +11 points |
| Q3 2020 | 84% | N/A |
ARCC's operating margin was 53% last quarter, down 31 points from the same quarter a year ago, near the bottom of its range since 2019.
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's operating margin was 40% last quarter, about level with the same quarter a year ago.
ARCC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.1B | +$1.8B |
| Q2 2026 | $336M | +$554M |
| Q1 2026 | $184M | +$483M |
| Q4 2025 | -$427M | -$159M |
| Q3 2025 | -$773M | -$252M |
| Q2 2025 | -$218M | +$1.1B |
| Q1 2025 | -$299M | -$278M |
| Q4 2024 | -$268M | +$91M |
ARCC 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.
ARCC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2M shares |
| 1 year | +1.6% | +11M shares |
| 3 years | +24% | +138M shares |
| 5 years | +59% | +267M shares |
| Available history | +68% | +291M shares |
ARCC has 720M diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
| Q3 2020 | — |
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 ARCC 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.
ARCC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 10.9x | High |
| Q1 2022 | 6.9x | High |
| Q4 2021 | 6.8x | High |
| Q3 2021 | 5.6x | High |
| Q2 2021 | 5.3x | High |
| Q1 2021 | 5.2x | High |
| Q4 2020 | 16.6x | High |
| Q3 2020 | 23.1x | High |
ARCC's net debt is about 11 years of its operating earnings (EBITDA), up from 5.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ARCC.
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.
ARCC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 49.4 | Neutral |
| Stochastic | 42.5 | Neutral |
ARCC's weekly RSI is 49 (neutral) and its Stochastic is 42 (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).
ARCC PE vs Financial Services Sector
| Metric | ARCC | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 20% above |
| PE % | 87 | 63 | 24 pts above |
ARCC is trading at 16x earnings, a 20% premium to the Financial Services sector's median of 13x.
JPM PE vs Financial Services Sector
| Metric | JPM | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 10% above |
| PE % | 76 | 63 | 13 pts above |
JPM has the edge over ARCC on valuation relative to its sector.
ARCC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $18.9 | 1% above |
| 20 week MA | $19.2 | 0.6% below |
| 50 week MA | $19.2 | 0.5% below |
| 100 week MA | $20.5 | 6.6% below |
| 200 week MA | $20.2 | 5.4% below |
ARCC has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 5.4% 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 ARCC on trend strength, trading above more of its moving averages.
ARCC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $18.6 | $16.4 | -12% |
| 2021 | $16.4 | $20.7 | +26% |
| 2022 | $20.7 | $18.7 | -9.6% |
| 2023 | $18.7 | $20.0 | +7.2% |
| 2024 | $20.0 | $22.0 | +9.9% |
| 2025 | $22.0 | $20.2 | -8.3% |
| 2026 YTD | $20.2 | $19.1 | -5.4% |
ARCC has finished lower in three of the last six years. It's down 5.4% 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 ARCC on returns for 2026, with the stronger performance.