FHB
First Hawaiian, Inc.
FHB offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
JPM
JPMorgan Chase & Co.
JPM has the edge over FHB overall, supported by stronger fundamentals and stronger modeled upside.
FHB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
FHB's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like FHB.
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.
FHB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 10x | $22.79 | -7.6% |
| Forward | 10x | $24.67 | — |
| Current | 11x | $24.67 | — |
| Fair | 13x | $28.33 | +15% |
| Expensive | 14x | $31.75 | +29% |
Historical ranges are pointers, not guarantees.
FHB 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.
FHB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for FHB, but weaker profitability. 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.
FHB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.42 | +8.7% |
| Q3 2026 | $2.23 | +8.8% |
| Q2 2026 | $2.30 | +19% |
| Q1 2026 | $2.28 | +24% |
| Q4 2025 | $2.20 | +23% |
| Q3 2025 | $2.05 | +17% |
| Q2 2025 | $1.94 | +12% |
| Q1 2025 | $1.84 | +5.7% |
| Q4 2024 | $1.79 | -2.7% |
FHB earned $2.23 per share over the past year, up 8.8% from the year before.
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 FHB on earnings, with more consistent year-over-year improvement.
FHB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $230.2M | +1.7% |
| Q2 2026 | $231.3M | +6.3% |
| Q1 2026 | $220.3M | +4.4% |
| Q4 2025 | $225.9M | +20% |
| Q3 2025 | $226.4M | +7.8% |
| Q2 2025 | $217.5M | +6.3% |
| Q1 2025 | $211M | +2.5% |
| Q4 2024 | $188.1M | -10% |
FHB's revenue has grown year over year for seven quarters in a row: $230M last quarter, up 1.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 22% | -21 points |
| Q2 2026 | 41% | +0.7 points |
| Q1 2026 | 40% | +3.2 points |
| Q4 2025 | 41% | +6.8 points |
| Q3 2025 | 42% | +6.1 points |
| Q2 2025 | 41% | +1 points |
| Q1 2025 | 36% | +2.1 points |
| Q4 2024 | 34% | +4.7 points |
FHB's operating margin was 22% last quarter, down 21 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 has the edge over FHB on sales, with stronger typical year-over-year growth.
| 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 FHB on profitability, with a higher operating margin.
FHB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $101.8M | +106% |
| Q2 2026 | $7.7M | -94% |
| Q1 2026 | $155.4M | +443% |
| Q4 2025 | $100M | -2.4% |
| Q3 2025 | $49.5M | -5.3% |
| Q2 2025 | $125.2M | +73% |
| Q1 2025 | $28.6M | -54% |
| Q4 2024 | $102.5M | +206% |
FHB 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.
FHB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +139K shares |
| 1 year | -2% | -2.5M shares |
| 3 years | -4.3% | -5.5M shares |
| 5 years | -5.2% | -6.7M shares |
| Available history | -8.2% | -10.9M shares |
FHB has 122M diluted shares, down 2% from a year ago, with $58M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $32M |
| Q4 2025 | $26M |
| Q3 2025 | $24M |
| Q2 2025 | $25M |
| Q1 2025 | $25M |
| Q4 2022 | — |
FHB spent $58M buying back its own shares over 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 FHB 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.
FHB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.7x | Net Cash |
| Q2 2026 | -0.7x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | 0.0x | Very low |
| Q4 2024 | -0.0x | Net Cash |
FHB 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.
FHB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 37.9 | Neutral |
| Stochastic | 20.0 | Neutral |
FHB's weekly RSI is 38 (neutral) and its Stochastic is 20 (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).
FHB PE vs Financial Services Sector
| Metric | FHB | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 15% below |
| PE % | 23 | 63 | 40 pts below |
FHB 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.
FHB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.0 | 1.5% below |
| 20 week MA | $26.5 | 7% below |
| 50 week MA | $26.4 | 6.7% below |
| 100 week MA | $25.6 | 3.7% below |
| 200 week MA | $23.6 | 4.5% above |
FHB has fallen below most of its moving averages, though it's still 4.5% 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 FHB on trend strength, trading above more of its moving averages.
FHB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $28.9 | $23.2 | -20% |
| 2021 | $23.2 | $26.9 | +16% |
| 2022 | $26.9 | $25.5 | -5.1% |
| 2023 | $25.5 | $22.9 | -10% |
| 2024 | $22.9 | $26.0 | +14% |
| 2025 | $26.0 | $26.1 | +0.4% |
| 2026 YTD | $26.1 | $24.7 | -5.3% |
FHB has finished lower in three of the last six years. It's down 5.3% 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 FHB on returns for 2026, with the stronger performance.