JPM
JPMorgan Chase & Co.
JPM has slightly lower modeled downside risk, despite its lower overall score.
KKR
KKR & Co. Inc.
KKR has the edge over JPM overall, supported by stronger valuation and stronger modeled upside.
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.
KKR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
KKR'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 KKR.
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 KKR in the historical PE scenario, which offers more potential upside but is not a forecast.
KKR PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $27.68 | -72% |
| Forward | 11x | $97.20 | — |
| Fair | 28x | $96.54 | -0.7% |
| Current | 28x | $97.20 | — |
| Expensive | 50x | $172 | +77% |
Historical ranges are pointers, not guarantees.
KKR's PE is in its fair range at 28x. If earnings grow as analysts expect, today's price would be 11x next year's earnings, in its cheap range.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
KKR Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
KKR 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 KKR on earnings, with more consistent year-over-year improvement.
KKR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.81 | +157% |
| Q3 2026 | $3.43 | +45% |
| Q2 2026 | $3.14 | +50% |
| Q1 2026 | $2.94 | +27% |
| Q4 2025 | $2.34 | -29% |
| Q3 2025 | $2.36 | -27% |
| Q2 2025 | $2.10 | -51% |
| Q1 2025 | $2.32 | -48% |
| Q4 2024 | $3.28 | -20% |
KKR's earnings per share have fallen from their peak: $3.43 over the past year, against $9.18 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 KKR on profitability, with a higher operating margin.
KKR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.6B | -17% |
| Q2 2026 | $5.7B | +13% |
| Q1 2026 | $4.3B | +39% |
| Q4 2025 | $5.7B | +76% |
| Q3 2025 | $5.5B | +15% |
| Q2 2025 | $5.1B | +22% |
| Q1 2025 | $3.1B | -68% |
| Q4 2024 | $3.3B | -26% |
KKR's revenue is growing: $4.6B last quarter, down 17% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 33% | -6.7 points |
| Q2 2026 | 24% | -6 points |
| Q1 2026 | 11% | -14 points |
| Q4 2025 | 45% | -5.1 points |
| Q3 2025 | 40% | +5.5 points |
| Q2 2025 | 30% | +1 points |
| Q1 2025 | 25% | +11 points |
| Q4 2024 | 50% | +8.1 points |
KKR's operating margin was 33% last quarter, down 6.7 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.
KKR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $2.1B | -10% |
| Q2 2026 | $3.3B | +641% |
| Q1 2026 | $1.7B | -31% |
| Q4 2025 | -$4.9B | -$4.8B |
| Q3 2025 | $2.4B | +27% |
| Q2 2025 | $438.8M | -87% |
| Q1 2025 | $2.5B | +67% |
| Q4 2024 | -$111.7M | -110% |
KKR 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 the edge over KKR 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.
KKR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -5.5M shares |
| 1 year | +0.1% | +786K shares |
| 3 years | +0.8% | +7.1M shares |
| 5 years | +53% | +307M shares |
| Available history | +58% | +326M shares |
KKR has 892M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $143.1M |
| Q2 2026 | $42M |
| Q1 2026 | $191.2M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q4 2023 | — |
KKR spent $376M 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.
KKR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.7x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q1 2026 | -2.8x | Net Cash |
| Q4 2025 | -2.4x | Net Cash |
| Q3 2025 | -3.6x | Net Cash |
| Q2 2025 | -3.1x | Net Cash |
| Q1 2025 | -3.4x | Net Cash |
| Q4 2024 | -2.6x | Net Cash |
KKR has the edge over JPM on leverage, with a lower net debt burden relative to earnings.
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).
KKR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.4 | Neutral |
| Stochastic | 36.5 | Neutral |
KKR's weekly RSI is 48 (neutral) and its Stochastic is 36 (neutral).
JPM PE vs Financial Services Sector
| Metric | JPM | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 10% above |
| PE % | 76 | 63 | 13 pts above |
JPM has the edge over KKR on valuation relative to its sector.
KKR PE vs Financial Services Sector
| Metric | KKR | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 118% above |
| PE % | 50 | 63 | 13 pts below |
KKR is trading at 28x earnings, a 118% premium to the Financial Services sector's median of 13x.
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 KKR on trend strength, trading above more of its moving averages.
KKR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $92.9 | 4.6% above |
| 20 week MA | $98.9 | 1.7% below |
| 50 week MA | $102.9 | 5.5% below |
| 100 week MA | $116.9 | 17% below |
| 200 week MA | $101.7 | 4.4% below |
KKR has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 4.4% below 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 KKR on returns for 2026, with the stronger performance.
KKR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.2 | $39.8 | +37% |
| 2021 | $39.8 | $75.7 | +90% |
| 2022 | $75.7 | $46.9 | -38% |
| 2023 | $46.9 | $82.9 | +77% |
| 2024 | $82.9 | $149.9 | +81% |
| 2025 | $149.9 | $130.4 | -13% |
| 2026 YTD | $130.4 | $97.2 | -25% |
KKR has finished higher in four of the last six years, three of them by more than 50%. It's down 25% so far in 2026.