JPM
JPMorgan Chase & Co.
JPM has the edge over L overall, supported by stronger modeled upside and stronger fundamentals.
L
Loews Corporation
L trails on the overall score without a compensating advantage in the available component scores.
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.
L Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
L'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 L.
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.
L PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $75.96 | -32% |
| Fair | 13x | $92.78 | -17% |
| Expensive | 15x | $107 | -4.1% |
| Current | 15x | $112 | — |
Historical ranges are pointers, not guarantees.
L 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 |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
L Forward outlook
There aren't enough analyst estimates for L to show an outlook.
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 L on earnings, with more consistent year-over-year improvement.
L Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $7.22 | +4.5% |
| Q2 2026 | $8.15 | +29% |
| Q1 2026 | $7.86 | +29% |
| Q4 2025 | $7.97 | +24% |
| Q3 2025 | $6.91 | -8.1% |
| Q2 2025 | $6.30 | -7.6% |
| Q1 2025 | $6.10 | -9.4% |
| Q4 2024 | $6.41 | +1.9% |
L earned $7.22 per share over the past year, up 4.5% 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 has the edge over L on profitability, with a higher operating margin.
L Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $4.8B | +1.9% |
| Q2 2026 | $4.7B | +3.9% |
| Q1 2026 | $4.6B | +1.4% |
| Q4 2025 | $4.7B | +4.1% |
| Q3 2025 | $4.7B | +4.6% |
| Q2 2025 | $4.6B | +6.7% |
| Q1 2025 | $4.5B | +6.2% |
| Q4 2024 | $4.5B | +6.8% |
L's revenue has grown year over year for 17 quarters in a row: $4.8B last quarter, up 1.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 8.5% | -6.2 points |
| Q2 2026 | 13% | +1.1 points |
| Q1 2026 | 10% | -1.3 points |
| Q4 2025 | 11% | +7.3 points |
| Q3 2025 | 15% | +2.4 points |
| Q2 2025 | 12% | -0.1 points |
| Q1 2025 | 11% | -3.4 points |
| Q4 2024 | 4.1% | -10 points |
L's operating margin was 8.5% last quarter, down 6.2 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.
L Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $691M | -9.6% |
| Q2 2026 | $708M | -19% |
| Q1 2026 | -$132M | -121% |
| Q4 2025 | $426M | -44% |
| Q3 2025 | $764M | -3.8% |
| Q2 2025 | $872M | +10% |
| Q1 2025 | $638M | +1536% |
| Q4 2024 | $767M | +202% |
L 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 L 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.
L Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -1M shares |
| 1 year | -1.5% | -3.1M shares |
| 3 years | -9.5% | -21.4M shares |
| 5 years | -20% | -52.7M shares |
| Available history | -33% | -98.8M shares |
L has 205M diluted shares, down 1.5% from a year ago, with $434M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $149M |
| Q2 2026 | $154M |
| Q1 2026 | $31M |
| Q4 2025 | $100M |
| Q3 2025 | $55M |
| Q2 2025 | $257M |
| Q1 2025 | $394M |
| Q4 2024 | $346M |
L spent $434M buying back its own shares over the past year, down 59% from the year before.
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.
L Net Leverage
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).
L Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.5 | Neutral |
| Stochastic | 51.5 | Neutral |
L's weekly RSI is 54 (neutral) and its Stochastic is 51 (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 L on valuation relative to its sector.
L PE vs Financial Services Sector
| Metric | L | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 13x | 19% above |
| PE % | 93 | 63 | 30 pts above |
L is trading at 15x earnings, a 19% 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's trend is mixed: it's above four of its five weekly moving averages, and 45% above its 200-week average.
L Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $109.1 | 2.5% above |
| 20 week MA | $111.3 | 0.4% above |
| 50 week MA | $108.9 | 2.7% above |
| 100 week MA | $100.1 | 12% above |
| 200 week MA | $84.9 | 32% above |
L has the edge over JPM on trend strength, trading above more of its moving averages.
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.
L Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.9 | $44.0 | -15% |
| 2021 | $44.0 | $57.0 | +30% |
| 2022 | $57.0 | $57.9 | +1.5% |
| 2023 | $57.9 | $69.6 | +20% |
| 2024 | $69.6 | $84.7 | +22% |
| 2025 | $84.7 | $106.4 | +26% |
| 2026 YTD | $106.4 | $111.8 | +5.1% |
L has the edge over JPM on returns for 2026, with the stronger performance.