BRO
Brown & Brown, Inc.
BRO offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
JPM
JPMorgan Chase & Co.
JPM has a slight edge over BRO overall, supported by stronger modeled upside and lower modeled downside.
BRO Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
BRO's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BRO.
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.
BRO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 15x | $70.55 | — |
| Current | 23x | $70.55 | — |
| Cheap | 24x | $75.13 | +6.5% |
| Fair | 28x | $86.99 | +23% |
| Expensive | 30x | $94.46 | +34% |
Historical ranges are pointers, not guarantees.
BRO 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.
BRO Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect BRO's profitability to improve, 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.
BRO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.65 | +49% |
| Q3 2026 | $3.12 | -6.6% |
| Q2 2026 | $3.13 | -9.8% |
| Q1 2026 | $3.07 | -14% |
| Q4 2025 | $3.16 | -8.7% |
| Q3 2025 | $3.34 | -8.7% |
| Q2 2025 | $3.47 | 0% |
| Q1 2025 | $3.59 | +11% |
| Q4 2024 | $3.46 | +13% |
BRO earned $3.12 per share over the past year, down 6.6% 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 BRO on earnings, with more consistent year-over-year improvement.
BRO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +7.4% |
| Q2 2026 | $1.7B | +30% |
| Q1 2026 | $1.9B | +35% |
| Q4 2025 | $1.6B | +36% |
| Q3 2025 | $1.6B | +35% |
| Q2 2025 | $1.3B | +9.1% |
| Q1 2025 | $1.4B | +12% |
| Q4 2024 | $1.2B | +15% |
BRO has the edge over JPM on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | -0.8 points |
| Q2 2026 | 23% | -1.3 points |
| Q1 2026 | 28% | -2.4 points |
| Q4 2025 | 20% | -3.3 points |
| Q3 2025 | 19% | -7.4 points |
| Q2 2025 | 24% | -5.2 points |
| Q1 2025 | 30% | +1.5 points |
| Q4 2024 | 23% | -11 points |
BRO's operating margin was 19% last quarter, down 0.8 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 has the edge over BRO on profitability, with a higher operating margin.
BRO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $493M | +9.1% |
| Q2 2026 | $329M | +6.1% |
| Q1 2026 | $241M | +23% |
| Q4 2025 | $424M | +24% |
| Q3 2025 | $452M | +8.4% |
| Q2 2025 | $310M | -7.2% |
| Q1 2025 | $196M | +$196M |
| Q4 2024 | $341M | +24% |
BRO 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.
BRO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -4M shares |
| 1 year | -0.6% | -2M shares |
| 3 years | +17% | +48.7M shares |
| 5 years | +19% | +53.1M shares |
| Available history | +20% | +55.4M shares |
BRO has 330M diluted shares, down 0.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $250M |
| Q2 2026 | $250M |
| Q1 2026 | $250M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | $100,000 |
| Q4 2022 | — |
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 BRO 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.
BRO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.1x | High |
| Q2 2026 | 4.2x | High |
| Q1 2026 | 4.4x | High |
| Q4 2025 | 4.6x | High |
| Q3 2025 | 4.8x | High |
| Q2 2025 | -1.0x | Net Cash |
| Q1 2025 | 2.2x | Moderate |
| Q4 2024 | 2.3x | Moderate |
BRO's net debt is about 4.1 years of its operating earnings (EBITDA), down from 4.8 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BRO.
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 has the edge over BRO on leverage, with a lower net debt burden relative to earnings.
BRO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.2 | Neutral |
| Stochastic | 69.7 | Neutral |
BRO's weekly RSI is 53 (neutral) and its Stochastic is 70 (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).
BRO PE vs Financial Services Sector
| Metric | BRO | Sector median | Relative |
|---|---|---|---|
| PE | 23x | 13x | 74% above |
| PE % | 9 | 63 | 54 pts below |
BRO is trading at 23x earnings, a 74% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
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 BRO on valuation relative to its sector.
BRO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $67.3 | 4.8% above |
| 20 week MA | $68.7 | 2.7% above |
| 50 week MA | $68.6 | 2.8% above |
| 100 week MA | $85.8 | 18% below |
| 200 week MA | $82.8 | 15% below |
BRO has bounced recently, but its long-term trend is still down: it's above its 8-, 20- and 50-week averages, but 15% 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 BRO on trend strength, trading above more of its moving averages.
BRO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $39.3 | $46.3 | +18% |
| 2021 | $46.3 | $68.0 | +47% |
| 2022 | $68.0 | $56.9 | -16% |
| 2023 | $56.9 | $71.1 | +25% |
| 2024 | $71.1 | $102.9 | +45% |
| 2025 | $102.9 | $80.8 | -21% |
| 2026 YTD | $80.8 | $70.6 | -13% |
BRO has finished higher in four of the last six years. It's down 13% 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 BRO on returns for 2026, with the stronger performance.