ASIC
Ategrity Specialty Holdings LLC
ASIC has the edge over JPM overall, supported by stronger valuation and stronger fundamentals.
JPM
JPMorgan Chase & Co.
JPM has lower modeled downside risk, despite its lower overall score.
ASIC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
ASIC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like ASIC.
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.
ASIC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 10x | $24.39 | — |
| Cheap | 11x | $22.09 | -9.4% |
| Fair | 12x | $24.16 | -0.9% |
| Current | 12x | $24.39 | — |
| Expensive | 13x | $25.32 | +3.8% |
Historical ranges are pointers, not guarantees.
ASIC 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.
ASIC Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Strong growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect strong earnings and revenue growth for ASIC, but weaker profitability.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
ASIC Earnings Per Share
ASIC and JPM do not have enough comparable growth data to identify a winner.
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's earnings per share have climbed steadily: $23.85 over the past year, up 18% from the year before, and higher year over year for 15 quarters in a row.
ASIC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $125.6M | +8.2% |
| Q2 2026 | $148.5M | +46% |
| Q1 2026 | $129M | +55% |
| Q4 2025 | $123.3M | +18% |
| Q2 2025 | $101.8M | +34% |
| Q1 2025 | $83.1M | +9.3% |
ASIC has the edge over JPM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | -14 points |
| Q2 2026 | 31% | +9.3 points |
| Q1 2026 | 27% | +14 points |
| Q4 2025 | 27% | N/A |
| Q3 2025 | 26% | -4.4 points |
| Q2 2025 | 22% | N/A |
| Q1 2025 | 13% | N/A |
| Q4 2024 | 30% | +16 points |
ASIC's operating margin was 12% last quarter, down 14 points from the same quarter a year ago, near the bottom of its range since 2024.
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 ASIC on profitability, with a higher operating margin.
ASIC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $72.5M | +76% |
| Q1 2026 | $41.1M | +96% |
| Q3 2025 | $41.1M | +38% |
| Q1 2025 | $21M | -40% |
| Q1 2025 | $0 | -100% |
| Q4 2024 | $34.5M | +16% |
| Q4 2024 | $29.8M | +0.2% |
| Q3 2024 | $21M | -40% |
ASIC's free cash flow was $193M over the past year, up 126% from the year before. Free cash flow isn't a meaningful measure for financial services companies like ASIC.
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.
ASIC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +382K shares |
| 1 year | +0.5% | +274K shares |
ASIC has 50M diluted shares, up 0.5% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q1 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q4 2024 | $2.7M |
| Q3 2024 | — |
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 ASIC 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.
ASIC Net Leverage
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.
ASIC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.3 | Neutral |
| Stochastic | 17.8 | Oversold |
ASIC's weekly RSI is 50 (neutral) and its Stochastic is 18 (oversold).
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).
ASIC PE vs Financial Services Sector
| Metric | ASIC | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 5.1% below |
| PE % | 63 | 12 | 51 pts above |
ASIC 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.
ASIC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.4 | 3.8% below |
| 20 week MA | $25.4 | 3.8% below |
| 50 week MA | $22.1 | 10% above |
JPM has stronger trend alignment. ASIC is above 1 of 3 weekly averages versus JPM above 4 of 5.
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's trend is mixed: it's above four of its five weekly moving averages, and 45% above its 200-week average.
ASIC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $23.7 | $21.5 | -9.2% |
| 2026 YTD | $21.5 | $24.4 | +14% |
ASIC has the edge over JPM on returns for 2026, with the stronger performance.
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 finished higher in four of the last six years. It's up 4.5% so far in 2026.