AX
Axos Financial, Inc.
AX offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
JPM
JPMorgan Chase & Co.
JPM has a slight edge over AX overall, supported by stronger fundamentals and stronger modeled upside.
AX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
AX's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like AX.
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.
AX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8x | $70.53 | -23% |
| Forward | 9.1x | $91.29 | — |
| Fair | 10x | $88.40 | -3.2% |
| Current | 10x | $91.29 | — |
| Expensive | 13x | $112 | +23% |
Historical ranges are pointers, not guarantees.
AX 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.
AX Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
AX has the edge over JPM on the outlook, with more favorable valuation expectations.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
AX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.03 | +14% |
| Q3 2026 | $8.79 | +18% |
| Q2 2026 | $8.48 | +14% |
| Q1 2026 | $8.20 | +12% |
| Q4 2025 | $7.86 | +6.4% |
| Q3 2025 | $7.44 | -9.4% |
| Q2 2025 | $7.43 | -3% |
| Q1 2025 | $7.29 | -0.7% |
| Q4 2024 | $7.39 | +9.5% |
AX earned $8.79 per share over the past year, up 18% from the year before. Its recent earnings include one-off gains.
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 AX on earnings, with more consistent year-over-year improvement.
AX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $395.1M | +22% |
| Q2 2026 | $379.8M | +18% |
| Q1 2026 | $392.2M | +27% |
| Q4 2025 | $385.1M | +25% |
| Q3 2025 | $323.4M | +0.9% |
| Q2 2025 | $321.4M | +10% |
| Q1 2025 | $308.8M | +4.8% |
| Q4 2024 | $307.9M | -13% |
AX has the edge over JPM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 44% | -2 points |
| Q2 2026 | 41% | -7.4 points |
| Q1 2026 | 42% | -5.8 points |
| Q4 2025 | 46% | -3.2 points |
| Q3 2025 | 46% | -3.3 points |
| Q2 2025 | 48% | -1.2 points |
| Q1 2025 | 48% | -4.8 points |
| Q4 2024 | 49% | -13 points |
AX has the edge over JPM on profitability, with a higher operating margin.
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.
AX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $235.5M | +115% |
| Q2 2026 | $197.7M | +22% |
| Q1 2026 | -$101.2M | -255% |
| Q4 2025 | $85.4M | -45% |
| Q3 2025 | $109.3M | +106% |
| Q2 2025 | $161.6M | +385% |
| Q1 2025 | $65.1M | -39% |
| Q4 2024 | $156.4M | +52% |
AX 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.
AX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +99.3K shares |
| 1 year | +0.4% | +243K shares |
| 3 years | -3.7% | -2.2M shares |
| 5 years | -4.4% | -2.6M shares |
| Available history | -7.4% | -4.6M shares |
AX has 57M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $4M |
| Q2 2026 | $22M |
| Q2 2025 | $32.3M |
| Q1 2025 | $25.9M |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | $13.1M |
| Q1 2024 | $595,000 |
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 AX 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.
AX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -1.1x | Net Cash |
| Q1 2026 | 2.3x | Moderate |
| Q4 2025 | 0.2x | Very low |
| Q3 2025 | -1.9x | Net Cash |
| Q2 2025 | -2.5x | Net Cash |
| Q1 2025 | -2.6x | Net Cash |
| Q4 2024 | -3.3x | Net Cash |
AX 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.
AX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.6 | Neutral |
| Stochastic | 35.9 | Neutral |
AX's weekly RSI is 49 (neutral) and its Stochastic is 36 (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).
AX PE vs Financial Services Sector
| Metric | AX | Sector median | Relative |
|---|---|---|---|
| PE | 10x | 13x | 20% below |
| PE % | 53 | 63 | 10 pts below |
AX 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.
AX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $90.0 | 1.4% above |
| 20 week MA | $94.6 | 3.4% below |
| 50 week MA | $91.7 | 0.4% below |
| 100 week MA | $83.4 | 9.4% above |
| 200 week MA | $67.5 | 35% above |
AX's trend is mixed: it's above three of its five weekly moving averages, and 35% above 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 AX on trend strength, trading above more of its moving averages.
AX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $30.4 | $37.7 | +24% |
| 2021 | $37.7 | $55.1 | +46% |
| 2022 | $55.1 | $37.5 | -32% |
| 2023 | $37.5 | $54.6 | +46% |
| 2024 | $54.6 | $71.3 | +31% |
| 2025 | $71.3 | $88.2 | +24% |
| 2026 YTD | $88.2 | $91.3 | +3.5% |
AX has finished higher in five of the last six years. It's up 3.5% 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 AX on returns for 2026, with the stronger performance.