JPM
JPMorgan Chase & Co.
JPM has the edge over KBDC overall, supported by stronger fundamentals and stronger modeled upside.
KBDC
Kayne Anderson BDC, Inc.
KBDC offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
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.
KBDC Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
KBDC's profitability is currently strong. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like KBDC.
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.
KBDC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 7.4x | $12.87 | — |
| Cheap | 7.7x | $13.51 | +5% |
| Forward | 8x | $12.87 | — |
| Fair | 8.1x | $14.22 | +11% |
| Expensive | 8.5x | $14.84 | +15% |
Historical ranges are pointers, not guarantees.
KBDC has the edge over JPM in the historical PE scenario, which offers more potential upside but is not a forecast.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over KBDC on the outlook, with more favorable valuation and earnings expectations.
KBDC Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect KBDC's revenue to grow, but its profitability to weaken.
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 KBDC on earnings, with more consistent year-over-year improvement.
KBDC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.61 | -7.8% |
| Q3 2026 | $1.75 | +2.3% |
| Q2 2026 | $1.72 | -4.4% |
| Q1 2026 | $1.70 | -11% |
| Q4 2025 | $1.67 | -18% |
| Q3 2025 | $1.71 | -18% |
| Q2 2025 | $1.80 | -14% |
| Q1 2025 | $1.91 | -11% |
| Q4 2024 | $2.03 | -6% |
KBDC earned $1.75 per share over the past year, up 2.3% from the year before.
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.
KBDC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2022 | $20.7M | +306% |
KBDC has the edge over JPM in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2022 | 70% | -29 points |
| Q2 2022 | 68% | N/A |
| Q1 2022 | 72% | N/A |
| Q4 2021 | 163% | N/A |
| Q3 2021 | 99% | N/A |
KBDC's operating margin was 70% last quarter, down 28 points from the same quarter a year ago.
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.
KBDC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $65.1M | +$118.8M |
| Q2 2026 | -$69.4M | -2950% |
| Q1 2026 | $39.8M | +$167M |
| Q4 2025 | $79.8M | +$128.9M |
| Q3 2025 | -$53.7M | +$63.9M |
| Q2 2025 | $2.4M | +$289.2M |
| Q1 2025 | -$127.2M | -$36.2M |
| Q4 2024 | -$49.1M | +$4.7M |
KBDC has the edge over JPM on cash generation, producing positive trailing cash flow while its opponent burns cash.
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.
KBDC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -306K shares |
| 1 year | -6.2% | -4.4M shares |
| 3 years | +63% | +25.5M shares |
KBDC has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $3.6M |
| Q2 2026 | $3.8M |
| Q1 2026 | $21.4M |
| Q4 2025 | $24.9M |
| Q1 2025 | $384,000 |
| Q4 2024 | $418,000 |
| Q3 2022 | — |
| Q2 2022 | — |
KBDC spent $54M buying back its own shares over the past year.
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.
KBDC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 10.0x | High |
| Q2 2022 | 9.6x | High |
KBDC's net debt is about 10 years of its operating earnings (EBITDA). Net leverage isn't a meaningful measure for financial services companies like KBDC.
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).
KBDC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.7 | Neutral |
| Stochastic | 28.5 | Neutral |
KBDC's weekly RSI is 44 (neutral) and its Stochastic is 28 (neutral).
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.
KBDC PE vs Financial Services Sector
| Metric | KBDC | Sector median | Relative |
|---|---|---|---|
| PE | 7.4x | 13x | 44% below |
| PE % | 3 | 27 | 24 pts below |
KBDC has the edge over JPM on valuation relative to its sector.
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 stronger trend alignment. JPM is above 4 of 5 weekly averages versus KBDC above 1 of 4.
KBDC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.7 | 1.4% above |
| 20 week MA | $13.2 | 2.2% below |
| 50 week MA | $13.9 | 7.2% below |
| 100 week MA | $14.8 | 13% below |
KBDC has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 13% below its 100-week average.
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 KBDC on returns for 2026, with the stronger performance.
KBDC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $16.1 | $16.8 | +4% |
| 2025 | $16.8 | $14.8 | -12% |
| 2026 YTD | $14.8 | $12.9 | -13% |
KBDC has finished lower in one of the last two years. It's down 13% so far in 2026.