FHI
Federated Hermes, Inc.
FHI has a slight edge over JPM overall, supported by stronger valuation and lower modeled downside.
JPM
JPMorgan Chase & Co.
JPM offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
FHI Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
FHI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like FHI.
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.
FHI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.5x | $52.45 | -17% |
| Fair | 11x | $62.14 | -2.2% |
| Current | 11x | $63.52 | — |
| Forward | 11x | $63.52 | — |
| Expensive | 13x | $71.76 | +13% |
Historical ranges are pointers, not guarantees.
FHI's PE is in its fair range at 11.5x. If earnings grow as analysts expect, today's price would be 10.8x next year's earnings.
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 FHI in the historical PE scenario, which offers more potential upside but is not a forecast.
FHI Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
FHI 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.
FHI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.89 | +6.6% |
| Q3 2026 | $5.53 | +14% |
| Q2 2026 | $5.37 | +18% |
| Q1 2026 | $5.15 | +43% |
| Q4 2025 | $5.13 | +59% |
| Q3 2025 | $4.83 | +56% |
| Q2 2025 | $4.55 | +57% |
| Q1 2025 | $3.59 | +2.3% |
| Q4 2024 | $3.23 | -5% |
FHI earned $5.53 per share over the past year, up 14% 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's earnings per share have climbed steadily: $23.85 over the past year, up 18% from the year before, and higher year over year for 15 quarters in a row.
FHI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $507.3M | +8.1% |
| Q2 2026 | $502.8M | +18% |
| Q1 2026 | $479M | +13% |
| Q4 2025 | $482.8M | +14% |
| Q3 2025 | $469.4M | +15% |
| Q2 2025 | $424.8M | +5.5% |
| Q1 2025 | $423.5M | +6.9% |
| Q4 2024 | $424.7M | +8.5% |
FHI has the edge over JPM on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 30% | +2.6 points |
| Q2 2026 | 26% | -1.1 points |
| Q1 2026 | 26% | -4.7 points |
| Q4 2025 | 28% | +2.1 points |
| Q3 2025 | 28% | +0.2 points |
| Q2 2025 | 28% | +17 points |
| Q1 2025 | 31% | +6.2 points |
| Q4 2024 | 26% | -0.2 points |
FHI's operating margin was 30% last quarter, up 2.6 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 has the edge over FHI on profitability, with a higher operating margin.
FHI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $120.2M | +18% |
| Q2 2026 | $79.7M | +343% |
| Q1 2026 | $24M | +80% |
| Q4 2025 | $161.6M | +28% |
| Q3 2025 | $101.6M | -15% |
| Q2 2025 | $18M | -78% |
| Q1 2025 | $13.3M | -1% |
| Q4 2024 | $126.2M | -1% |
FHI 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.
FHI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -950K shares |
| 1 year | -4.1% | -3.1M shares |
| 3 years | -15% | -12.7M shares |
| 5 years | -24% | -22.3M shares |
| Available history | -27% | -26.3M shares |
FHI has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $57.4M |
| Q2 2026 | $64M |
| Q1 2026 | $64.7M |
| Q4 2025 | $77.1M |
| Q3 2025 | $21,000 |
| Q2 2025 | $65.5M |
| Q1 2025 | $120.1M |
| Q4 2024 | $23.4M |
FHI spent $263M buying back its own shares over the past year, up 26% from 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 2.7B diluted shares, down 3.1% from a year ago, with $24.5B in buybacks over the past year.
| 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.
FHI 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.
FHI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.8 | Neutral |
| Stochastic | 60.5 | Neutral |
FHI's weekly RSI is 62 (neutral) and its Stochastic is 60 (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).
FHI PE vs Financial Services Sector
| Metric | FHI | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 12% below |
| PE % | 55 | 63 | 8 pts below |
FHI 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.
FHI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $58.6 | 8.3% above |
| 20 week MA | $59.8 | 6.2% above |
| 50 week MA | $57.0 | 11% above |
| 100 week MA | $50.8 | 25% above |
| 200 week MA | $43.4 | 46% above |
FHI has the edge over JPM on trend strength, trading above more of its moving averages.
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.
FHI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $32.7 | $28.5 | -13% |
| 2021 | $28.5 | $37.4 | +31% |
| 2022 | $37.4 | $35.7 | -4.4% |
| 2023 | $35.7 | $33.9 | -5.2% |
| 2024 | $33.9 | $41.4 | +22% |
| 2025 | $41.4 | $54.1 | +31% |
| 2026 YTD | $54.1 | $63.5 | +17% |
FHI has the edge over JPM on returns for 2026, with the stronger performance.
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 finished higher in four of the last six years. It's up 4.5% so far in 2026.