ITUB
Itaú Unibanco Holding S.A.
ITUB offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
JPM
JPMorgan Chase & Co.
JPM has a slight edge over ITUB overall, supported by lower modeled downside and stronger modeled upside.
ITUB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
ITUB's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like ITUB.
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.
ITUB PE Valuation
ITUB has no meaningful PE right now: it lost money over the past year.
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.
ITUB Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect ITUB's profitability to improve, with its earnings and revenue holding steady.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over ITUB on the outlook, with more favorable earnings and revenue expectations.
ITUB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $0.73 | +1.4% |
| Q1 2026 | $0.71 | -1.4% |
| Q4 2025 | $0.71 | 0% |
| Q3 2025 | $0.74 | +8.8% |
| Q2 2025 | $0.72 | +7.5% |
| Q1 2025 | $0.72 | +11% |
| Q4 2024 | $0.71 | +18% |
| Q3 2024 | $0.68 | +17% |
ITUB earned $0.73 per share over the past year, up 1.4% 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 ITUB on earnings, with more consistent year-over-year improvement.
ITUB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $17.8B | -2.6% |
| Q1 2026 | $17.3B | +1.5% |
| Q4 2025 | $16.4B | +12% |
| Q3 2025 | $17.2B | +28% |
| Q2 2025 | $18.2B | +21% |
| Q1 2025 | $17B | +22% |
| Q4 2024 | $14.7B | +10% |
| Q3 2024 | $13.5B | -6.1% |
ITUB's revenue is growing: $17.8B last quarter, down 2.6% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 14% | +4.8 points |
| Q1 2026 | 13% | -0.4 points |
| Q4 2025 | 15% | -0.7 points |
| Q3 2025 | 14% | +1 points |
| Q2 2025 | 9.5% | -5.1 points |
| Q1 2025 | 14% | -2.1 points |
| Q4 2024 | 16% | +2.4 points |
| Q3 2024 | 13% | +0.2 points |
ITUB's operating margin was 14% last quarter, up 4.8 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 ITUB on profitability, with a higher operating margin.
ITUB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $12.8B | +489% |
| Q1 2026 | -$1.1B | +$1.4B |
| Q4 2025 | $8.1B | +762% |
| Q3 2025 | $13.3B | +$20B |
| Q2 2025 | $2.2B | +$2.6B |
| Q1 2025 | -$2.4B | -129% |
| Q4 2024 | $935.4M | +$4.2B |
| Q3 2024 | -$6.8B | -$6.2B |
ITUB 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.
ITUB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +27.7M shares |
| 1 year | +2.5% | +273M shares |
| 3 years | +13% | +1.3B shares |
| 5 years | +13% | +1.3B shares |
| Available history | +14% | +1.3B shares |
ITUB has 11.1B diluted shares, up 2.5% from a year ago, despite $1.2B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $300.6M |
| Q1 2026 | $309.2M |
| Q4 2025 | $214M |
| Q3 2025 | $342.1M |
| Q2 2025 | — |
| Q1 2025 | $14.9M |
| Q4 2024 | $18.1M |
| Q3 2024 | — |
ITUB spent $1.2B 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 ITUB 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.
ITUB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 12.0x | High |
| Q1 2026 | 14.1x | High |
| Q4 2025 | 12.9x | High |
| Q3 2025 | 12.8x | High |
| Q2 2025 | 13.1x | High |
| Q1 2025 | 12.0x | High |
| Q4 2024 | 12.0x | High |
| Q3 2024 | 13.0x | High |
ITUB's net debt is about 12 years of its operating earnings (EBITDA), down from 13 years a year ago. Net leverage isn't a meaningful measure for financial services companies like ITUB.
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 ITUB on leverage, with a lower net debt burden relative to earnings.
ITUB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.6 | Neutral |
| Stochastic | 9.4 | Oversold |
ITUB's weekly RSI is 44 (neutral) and its Stochastic is 9 (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).
ITUB PE vs Financial Services Sector
| Metric | ITUB | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
ITUB has no meaningful PE right now: it lost money over the past year.
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.
ITUB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $8.48 | 13% below |
| 20 week MA | $8.23 | 10% below |
| 50 week MA | $8.17 | 9.8% below |
| 100 week MA | $7.20 | 2.4% above |
| 200 week MA | $6.29 | 17% above |
ITUB has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 17% 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 ITUB on trend strength, trading above more of its moving averages.
ITUB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.82 | $4.64 | -32% |
| 2021 | $4.64 | $3.40 | -27% |
| 2022 | $3.40 | $4.43 | +30% |
| 2023 | $4.43 | $6.32 | +43% |
| 2024 | $6.32 | $4.53 | -28% |
| 2025 | $4.53 | $7.10 | +57% |
| 2026 YTD | $7.10 | $7.37 | +3.8% |
ITUB has finished lower in three of the last six years. It's up 3.8% 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 ITUB on returns for 2026, with the stronger performance.