BHF
Brighthouse Financial, Inc.
BHF offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
JPM
JPMorgan Chase & Co.
JPM has the edge over BHF overall, supported by stronger fundamentals and stronger modeled upside.
BHF Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| N/A | |
| N/A |
BHF's revenue and profitability are currently stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like BHF.
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.
BHF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 1.7x | $16.67 | -62% |
| Forward | 2.4x | $44.10 | — |
| Fair | 4.4x | $43.35 | -1.7% |
| Current | 4.5x | $44.10 | — |
| Expensive | 7.2x | $70.02 | +59% |
Historical ranges are pointers, not guarantees.
BHF's PE is in its fair range at 4.5x. On analysts' estimates for next year's earnings, today's price would be 2.4x, in its cheap 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 BHF in the historical PE scenario, which offers more potential upside but is not a forecast.
BHF Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect BHF's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
BHF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $18.60 | +91% |
| Q3 2026 | $9.76 | -31% |
| Q2 2026 | $12.44 | +43% |
| Q1 2026 | -$3.07 | -139% |
| Q4 2025 | $5.71 | +23% |
| Q3 2025 | $14.14 | +$34.47 |
| Q2 2025 | $8.72 | +$24.63 |
| Q1 2025 | $7.82 | +$26.86 |
| Q4 2024 | $4.64 | +$23.18 |
BHF's earnings per share have fallen from their peak: $9.76 over the past year, against $46.42 in early 2020.
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 BHF on earnings, with more consistent year-over-year improvement.
BHF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $853M | -53% |
| Q2 2026 | $1.6B | +86% |
| Q1 2026 | $1.5B | -36% |
| Q4 2025 | $1.7B | +40% |
| Q3 2025 | $1.8B | -10% |
| Q2 2025 | $871M | -39% |
| Q1 2025 | $2.4B | +3130% |
| Q4 2024 | $1.2B | -14% |
BHF's revenue has slid since its 2020 peak: $853M last quarter, down 53% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 47% | +15 points |
| Q2 2026 | 76% | +65 points |
| Q1 2026 | -65% | -50 points |
| Q4 2025 | 8.9% | -60 points |
| Q3 2025 | 32% | +23 points |
| Q2 2025 | 11% | +9.7 points |
| Q1 2025 | -15% | +815 points |
| Q4 2024 | 69% | +153 points |
BHF 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 has the edge over BHF on sales, with more consistent year-over-year improvement.
| 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.
BHF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$476M | -507% |
| Q2 2026 | -$431M | -$430M |
| Q1 2026 | -$221M | -251% |
| Q4 2025 | -$3M | +$115M |
| Q3 2025 | $117M | +388% |
| Q2 2025 | -$1M | -100% |
| Q1 2025 | $146M | +$676M |
| Q4 2024 | -$118M | -178% |
BHF's free cash flow was −$1.1B over the past year, against $144M the year before. Free cash flow isn't a meaningful measure for financial services companies like BHF.
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 has the edge over BHF on cash flow, with more consistent year-over-year improvement.
BHF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +41.8K shares |
| 1 year | +0.6% | +369K shares |
| 3 years | -12% | -7.9M shares |
| 5 years | -30% | -25.4M shares |
| Available history | -49% | -54.6M shares |
BHF has 58M diluted shares, up 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | $43M |
| Q1 2025 | $59M |
| Q4 2024 | $60M |
BHF hasn't bought back shares in the past year.
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 BHF 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.
BHF 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.
BHF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.9 | Oversold |
| Stochastic | 10.5 | Oversold |
BHF's weekly RSI is 28 (oversold) and its Stochastic is 11 (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).
BHF PE vs Financial Services Sector
| Metric | BHF | Sector median | Relative |
|---|---|---|---|
| PE | 4.5x | 13x | 65% below |
| PE % | 52 | 63 | 11 pts below |
BHF 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.
BHF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $47.0 | 6.1% below |
| 20 week MA | $53.7 | 18% below |
| 50 week MA | $59.1 | 25% below |
| 100 week MA | $56.6 | 22% below |
| 200 week MA | $52.3 | 16% below |
BHF is in a downtrend: it's below all five of its weekly moving averages, and 16% 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 BHF on trend strength, trading above more of its moving averages.
BHF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.5 | $35.4 | -10% |
| 2021 | $35.4 | $52.2 | +47% |
| 2022 | $52.2 | $51.1 | -2.1% |
| 2023 | $51.1 | $52.9 | +3.5% |
| 2024 | $52.9 | $48.2 | -8.9% |
| 2025 | $48.2 | $64.9 | +34% |
| 2026 YTD | $64.9 | $44.1 | -32% |
BHF has finished lower in three of the last six years. It's down 32% 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 BHF on returns for 2026, with the stronger performance.