JPM
JPMorgan Chase & Co.
JPM has lower modeled downside risk, despite its lower overall score.
MBIN
Merchants Bancorp
MBIN has a slight edge over JPM overall, supported by stronger fundamentals 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.
MBIN Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
MBIN's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like MBIN.
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 MBIN in the historical PE scenario, which offers more potential upside but is not a forecast.
MBIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.6x | $33.76 | -37% |
| Fair | 6.3x | $38.13 | -29% |
| Expensive | 8.1x | $49.06 | -8.4% |
| Current | 8.8x | $53.56 | — |
| Forward | 9.1x | $53.56 | — |
Historical ranges are pointers, not guarantees.
MBIN's PE is in its expensive range at 8.8x. On analysts' estimates for next year's earnings, today's price would be 9.1x.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
MBIN Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for MBIN, with profitability improving.
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 MBIN on earnings, with more consistent year-over-year improvement.
MBIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.86 | -3.4% |
| Q3 2026 | $6.07 | +40% |
| Q2 2026 | $4.98 | +9.7% |
| Q1 2026 | $4.10 | -24% |
| Q4 2025 | $3.78 | -40% |
| Q3 2025 | $4.34 | -28% |
| Q2 2025 | $4.54 | -31% |
| Q1 2025 | $5.43 | -15% |
| Q4 2024 | $6.30 | +12% |
MBIN earned $6.07 per share over the past year, up 40% 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.
MBIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $224.9M | +31% |
| Q2 2026 | $182.2M | +1.7% |
| Q1 2026 | $175.2M | +20% |
| Q4 2025 | $185.3M | -4.4% |
| Q3 2025 | $171.1M | +14% |
| Q2 2025 | $179.2M | +12% |
| Q1 2025 | $145.9M | -13% |
| Q4 2024 | $193.8M | +22% |
MBIN's revenue is growing: $225M last quarter, up 31% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 59% | +22 points |
| Q2 2026 | 55% | +28 points |
| Q1 2026 | 48% | -4.3 points |
| Q4 2025 | 40% | -26 points |
| Q3 2025 | 38% | -17 points |
| Q2 2025 | 27% | -35 points |
| Q1 2025 | 52% | -16 points |
| Q4 2024 | 66% | +3.4 points |
MBIN has the edge over JPM on profitability, with a higher operating margin.
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.
MBIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $616.9M | +2472% |
| Q2 2026 | $210.9M | +$336.5M |
| Q1 2026 | -$598.5M | -524% |
| Q4 2025 | -$401.7M | -$385.4M |
| Q3 2025 | $24M | +$521.2M |
| Q2 2025 | -$125.7M | -374% |
| Q1 2025 | $141.2M | +$527.3M |
| Q4 2024 | -$16.3M | -102% |
MBIN's free cash flow was −$172M over the past year, against $23M the year before. Free cash flow isn't a meaningful measure for financial services companies like MBIN.
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 MBIN 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.
MBIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +27K shares |
| 1 year | +0.2% | +82.8K shares |
| 3 years | +6.2% | +2.7M shares |
| 5 years | +6.3% | +2.7M shares |
| Available history | +6.8% | +2.9M shares |
MBIN has 46M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $3M |
| Q4 2022 | — |
| Q3 2022 | $333 |
| Q2 2022 | $3.9M |
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.
MBIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.0x | Net Cash |
| Q2 2026 | -0.0x | Net Cash |
| Q1 2026 | -0.0x | Net Cash |
| Q4 2025 | -0.0x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | -0.0x | Net Cash |
| Q1 2025 | -0.0x | Net Cash |
| Q4 2024 | -0.0x | Net Cash |
MBIN 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).
MBIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 61.0 | Neutral |
| Stochastic | 56.3 | Neutral |
MBIN's weekly RSI is 61 (neutral) and its Stochastic is 56 (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.
MBIN PE vs Financial Services Sector
| Metric | MBIN | Sector median | Relative |
|---|---|---|---|
| PE | 8.8x | 13x | 32% below |
| PE % | 86 | 63 | 23 pts above |
MBIN 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.
MBIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $50.8 | 5.5% above |
| 20 week MA | $51.5 | 3.9% above |
| 50 week MA | $46.2 | 16% above |
| 100 week MA | $40.3 | 33% above |
| 200 week MA | $37.9 | 41% above |
MBIN 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.
MBIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.0 | $18.6 | +43% |
| 2021 | $18.6 | $31.5 | +70% |
| 2022 | $31.5 | $24.5 | -22% |
| 2023 | $24.5 | $42.6 | +74% |
| 2024 | $42.6 | $36.3 | -15% |
| 2025 | $36.3 | $33.7 | -7.2% |
| 2026 YTD | $33.7 | $53.6 | +59% |
MBIN has the edge over JPM on returns for 2026, with the stronger performance.