FGN
F&G Annuities & Life, Inc.
FGN has the edge over JPM overall, supported by stronger valuation and stronger modeled upside.
JPM
JPMorgan Chase & Co.
JPM offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
FGN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| N/A | |
| N/A |
FGN's profitability is currently strong, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like FGN.
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.
FGN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 2.9x | $21.86 | — |
| Forward | 3.6x | $21.86 | — |
| Cheap | 6.4x | $49.03 | +124% |
| Fair | 7.6x | $57.60 | +164% |
| Expensive | 11x | $81.59 | +273% |
Historical ranges are pointers, not guarantees.
FGN 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.
FGN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect FGN's earnings to grow and its profitability to improve, with its revenue holding steady.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over FGN on the outlook, with more favorable valuation and revenue expectations.
FGN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.14 | -19% |
| Q3 2026 | $7.61 | +121% |
| Q2 2026 | $2.98 | +19% |
| Q1 2026 | $3.86 | +1.6% |
| Q4 2025 | $1.88 | -61% |
| Q3 2025 | $3.44 | +$3.49 |
| Q2 2025 | $2.51 | +1.2% |
| Q1 2025 | $3.80 | +93% |
| Q4 2024 | $4.88 | +$5.35 |
FGN's earnings per share have fallen from their peak: $7.61 over the past year, against $10.61 in mid-2022.
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 FGN on earnings, with more consistent year-over-year improvement.
FGN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.1B | -33% |
| Q2 2026 | $1.4B | +4.2% |
| Q1 2026 | $1.2B | +31% |
| Q4 2025 | $1.8B | +13% |
| Q3 2025 | $1.7B | +17% |
| Q2 2025 | $1.4B | +16% |
| Q1 2025 | $908M | -42% |
| Q4 2024 | $1.6B | -3.3% |
FGN's revenue has held roughly level: $1.1B last quarter, down 33% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2022 | 93% | -5.1 points |
| Q3 2022 | 25% | -72 points |
| Q2 2022 | 55% | -40 points |
| Q1 2022 | 96% | +0.6 points |
| Q4 2021 | 98% | N/A |
| Q3 2021 | 97% | +47 points |
| Q2 2021 | 95% | +81 points |
| Q1 2021 | 95% | +82 points |
FGN's operating margin was 93% last quarter, down 5.1 points from the same quarter a year ago.
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.
FGN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $982M | +4.8% |
| Q2 2026 | $1.5B | -8.2% |
| Q1 2026 | $743M | -22% |
| Q4 2025 | $1.2B | -12% |
| Q3 2025 | $937M | -55% |
| Q2 2025 | $1.6B | +54% |
| Q1 2025 | $956M | -38% |
| Q4 2024 | $1.3B | -41% |
FGN 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.
FGN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.8% | +5M shares |
| 1 year | -2.9% | -4M shares |
| 3 years | +8% | +10M shares |
| 5 years | +29% | +30M shares |
| Available history | -39% | -84.7M shares |
FGN has 135M diluted shares, down 2.9% from a year ago, with $130M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $94M |
| Q1 2026 | $29M |
| Q4 2025 | $7M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $3M |
| Q4 2024 | $6M |
FGN spent $130M buying back its own shares over the past year, more than ten times what it spent the year before.
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 FGN 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.
FGN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2022 | 0.4x | Very low |
| Q4 2021 | -90.3x | Net Cash |
| Q3 2019 | -7.9x | Net Cash |
| Q2 2019 | -5.9x | Net Cash |
| Q1 2019 | -19.9x | Net Cash |
FGN's net debt is less than a year of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for financial services companies like FGN.
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.
FGN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 27.3 | Oversold |
| Stochastic | 9.6 | Oversold |
FGN's weekly RSI is 27 (oversold) and its Stochastic is 10 (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).
FGN PE vs Financial Services Sector
| Metric | FGN | Sector median | Relative |
|---|---|---|---|
| PE | 2.9x | 13x | 78% below |
| PE % | 0 | 38 | 38 pts below |
FGN 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.
FGN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.0 | 4.7% below |
| 20 week MA | $24.0 | 8.8% below |
| 50 week MA | $24.7 | 11% below |
| 100 week MA | $25.5 | 14% below |
JPM has stronger trend alignment. FGN is above 0 of 4 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.
FGN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2023 | $25.9 | $25.8 | -0.3% |
| 2024 | $25.8 | $26.5 | +2.5% |
| 2025 | $26.5 | $25.5 | -3.7% |
| 2026 YTD | $25.5 | $21.9 | -14% |
FGN has finished lower in two of the last three years. It's down 14% 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 FGN on returns for 2026, with the stronger performance.