JPM
JPMorgan Chase & Co.
JPM has slightly lower modeled downside risk, despite its lower overall score.
KEY
KeyCorp
KEY has the edge over JPM overall, supported by stronger fundamentals and stronger valuation.
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.
KEY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
KEY'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 KEY.
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 KEY in the historical PE scenario, which offers more potential upside but is not a forecast.
KEY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.9x | $14.34 | -33% |
| Forward | 10x | $21.33 | — |
| Fair | 11x | $20.72 | -2.9% |
| Current | 12x | $21.33 | — |
| Expensive | 17x | $30.68 | +44% |
Historical ranges are pointers, not guarantees.
KEY's PE is in its fair range at 12x. If earnings grow as analysts expect, today's price would be 10x next year's earnings.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
KEY Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
KEY has the edge over JPM on the outlook, with more favorable valuation expectations.
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 KEY on earnings, with more consistent year-over-year improvement.
KEY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.09 | +15% |
| Q3 2026 | $1.82 | +130% |
| Q2 2026 | $1.72 | +$1.81 |
| Q1 2026 | $1.63 | +$1.82 |
| Q4 2025 | $1.52 | +$1.84 |
| Q3 2025 | $0.79 | +7800% |
| Q2 2025 | -$0.09 | -112% |
| Q1 2025 | -$0.19 | -124% |
| Q4 2024 | -$0.32 | -136% |
KEY's earnings per share have fallen from their peak: $1.82 over the past year, against $2.63 in late 2021.
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 KEY on profitability, with a higher operating margin.
KEY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2B | +8.4% |
| Q2 2026 | $2B | +6.8% |
| Q1 2026 | $1.9B | +10% |
| Q4 2025 | $2B | +134% |
| Q3 2025 | $1.9B | +176% |
| Q2 2025 | $1.8B | +21% |
| Q1 2025 | $1.8B | +16% |
| Q4 2024 | $855M | -44% |
KEY has the edge over JPM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 36% | +4.2 points |
| Q2 2026 | 33% | +3.6 points |
| Q1 2026 | 34% | +4.6 points |
| Q4 2025 | 32% | +81 points |
| Q3 2025 | 32% | +106 points |
| Q2 2025 | 29% | +7.3 points |
| Q1 2025 | 29% | +11 points |
| Q4 2024 | -48% | -52 points |
KEY's operating margin was 36% last quarter, up 4.2 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.
KEY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $684M | +86% |
| Q2 2026 | $233M | -81% |
| Q1 2026 | -$74M | +$76M |
| Q4 2025 | $673M | -61% |
| Q3 2025 | $367M | +$1.6B |
| Q2 2025 | $1.2B | +$1.4B |
| Q1 2025 | -$150M | -143% |
| Q4 2024 | $1.7B | +71% |
KEY 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.
KEY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.5% | -15.7M shares |
| 1 year | -4.2% | -46.4M shares |
| 3 years | +14% | +133M shares |
| 5 years | +12% | +112M shares |
| Available history | +6.2% | +62M shares |
KEY has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q4 2021 | $26M |
| Q3 2021 | $150M |
| Q2 2021 | $300M |
| Q1 2021 | $135M |
| Q4 2020 | $17M |
| Q3 2020 | — |
| Q2 2020 | — |
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 KEY on leverage, with a lower net debt burden relative to earnings.
KEY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.5x | Moderate |
| Q2 2026 | 2.4x | Moderate |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.4x | Moderate |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 9.4x | High |
| Q1 2025 | 21.2x | High |
| Q3 2024 | 37.8x | High |
KEY's net debt is about 2.5 years of its operating earnings (EBITDA), down from 3.5 years a year ago. Net leverage isn't a meaningful measure for financial services companies like KEY.
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).
KEY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.1 | Neutral |
| Stochastic | 41.1 | Neutral |
KEY's weekly RSI is 50 (neutral) and its Stochastic is 41 (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.
KEY PE vs Financial Services Sector
| Metric | KEY | Sector median | Relative |
|---|---|---|---|
| PE | 12x | 13x | 10% below |
| PE % | 55 | 63 | 8 pts below |
KEY 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 the edge over KEY on trend strength, trading above more of its moving averages.
KEY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.6 | 3.4% above |
| 20 week MA | $21.7 | 1.9% below |
| 50 week MA | $21.4 | 0.5% below |
| 100 week MA | $19.3 | 11% above |
| 200 week MA | $16.7 | 28% above |
KEY's trend is mixed: it's above three of its five weekly moving averages, and 28% above its 200-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 KEY on returns for 2026, with the stronger performance.
KEY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $20.3 | $16.2 | -20% |
| 2021 | $16.2 | $22.7 | +40% |
| 2022 | $22.7 | $17.2 | -24% |
| 2023 | $17.2 | $14.4 | -16% |
| 2024 | $14.4 | $17.2 | +19% |
| 2025 | $17.2 | $21.2 | +23% |
| 2026 YTD | $21.2 | $21.3 | +0.7% |
KEY has finished lower in three of the last six years. It's up 0.7% so far in 2026.