JPM
JPMorgan Chase & Co.
JPM has slightly lower modeled downside risk, despite its lower overall score.
LNC
Lincoln National Corporation
LNC has the edge over JPM overall, supported by stronger valuation and stronger fundamentals.
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.
LNC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
LNC's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like LNC.
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.
LNC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 2.5x | $41.80 | — |
| Cheap | 3.8x | $63.26 | +51% |
| Forward | 4.9x | $41.80 | — |
| Fair | 8.9x | $149 | +257% |
| Expensive | 15x | $256 | +512% |
Historical ranges are pointers, not guarantees.
LNC 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 LNC on the outlook, with more favorable valuation and revenue expectations.
LNC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect LNC's earnings to grow and its profitability to improve, with its revenue holding steady.
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 LNC on earnings, with more consistent year-over-year improvement.
LNC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.54 | -49% |
| Q3 2026 | $16.71 | +50% |
| Q2 2026 | $12.06 | +109% |
| Q1 2026 | $9.14 | +29% |
| Q4 2025 | $5.83 | -68% |
| Q3 2025 | $11.17 | +660% |
| Q2 2025 | $5.76 | -40% |
| Q1 2025 | $7.07 | -4.2% |
| Q4 2024 | $18.41 | +$23.33 |
LNC earned $16.71 per share over the past year, up 50% 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 LNC on profitability, with a higher operating margin.
LNC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.5B | +20% |
| Q2 2026 | $4.5B | +12% |
| Q1 2026 | $5.3B | +13% |
| Q4 2025 | $4.9B | -2.8% |
| Q3 2025 | $4.6B | +11% |
| Q2 2025 | $4B | -22% |
| Q1 2025 | $4.7B | +14% |
| Q4 2024 | $5.1B | +624% |
LNC's revenue is growing: $5.5B last quarter, up 20% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 32% | +20 points |
| Q2 2026 | 36% | +15 points |
| Q1 2026 | -4.6% | +16 points |
| Q4 2025 | 19% | -23 points |
| Q3 2025 | 12% | +29 points |
| Q2 2025 | 21% | -0.3 points |
| Q1 2025 | -20% | -57 points |
| Q4 2024 | 41% | +272 points |
LNC's operating margin was 32% last quarter, up 20 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.
LNC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $875M | +$2B |
| Q2 2026 | -$558M | -155% |
| Q1 2026 | $138M | +$410M |
| Q4 2025 | $233M | +5% |
| Q3 2025 | -$1.1B | -$1.1B |
| Q2 2025 | $1B | +$1.9B |
| Q1 2025 | -$272M | +$1.1B |
| Q4 2024 | $222M | +$2.1B |
LNC 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 LNC 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.
LNC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +235K shares |
| 1 year | +1.2% | +2.3M shares |
| 3 years | +15% | +25.8M shares |
| 5 years | +4% | +7.6M shares |
| Available history | -2.7% | -5.5M shares |
LNC has 197M diluted shares, up 1.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | $50M |
| Q2 2022 | $100M |
| Q1 2022 | $400M |
| Q4 2021 | $650M |
| Q3 2021 | $200M |
| Q2 2021 | $150M |
| Q1 2021 | $105M |
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.
LNC 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).
LNC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.7 | Neutral |
| Stochastic | 27.7 | Neutral |
LNC's weekly RSI is 54 (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.
LNC PE vs Financial Services Sector
| Metric | LNC | Sector median | Relative |
|---|---|---|---|
| PE | 2.5x | 13x | 81% below |
| PE % | 5 | 63 | 58 pts below |
LNC 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's trend is mixed: it's above four of its five weekly moving averages, and 45% above its 200-week average.
LNC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $40.6 | 3% above |
| 20 week MA | $42.0 | 0.4% below |
| 50 week MA | $39.8 | 5.1% above |
| 100 week MA | $38.0 | 10% above |
| 200 week MA | $33.0 | 27% above |
LNC's trend is mixed: it's above four of its five weekly moving averages, and 27% 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 LNC on returns for 2026, with the stronger performance.
LNC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $58.7 | $49.7 | -15% |
| 2021 | $49.7 | $67.9 | +36% |
| 2022 | $67.9 | $30.1 | -56% |
| 2023 | $30.1 | $27.0 | -10% |
| 2024 | $27.0 | $31.8 | +18% |
| 2025 | $31.8 | $45.7 | +44% |
| 2026 YTD | $45.7 | $41.8 | -8.6% |
LNC has finished lower in three of the last six years. It's down 8.6% so far in 2026.