JPM
JPMorgan Chase & Co.
JPM's fundamentals are strong, but it looks expensive: trading at 14x earnings, above its usual 12x. Analysts expect earnings growth.
MIAX
MIAMI INTERNATIONAL HOLDINGS, INC.
There isn't enough reported data to score MIAX yet.
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.
MIAX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| N/A | |
| N/A |
MIAX's revenue is currently healthy, but its profitability is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like MIAX.
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.
MIAX PE Valuation
MIAX has no meaningful PE right now: it lost money over the past year.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
MIAX Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MIAX, 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 MIAX in the latest year-over-year earnings comparison.
MIAX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.83 | — |
| Q3 2025 | -$1.39 | -231% |
MIAX has swung to a loss: it lost $1.39 per share over the past year, after a profit 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 MIAX on profitability, with a higher operating margin.
MIAX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $376.2M | +11% |
| Q2 2026 | $387.6M | +18% |
| Q1 2026 | $369.7M | +13% |
| Q4 2025 | $369.4M | +14% |
| Q3 2025 | $339.8M | +23% |
| Q2 2025 | $327.8M | +23% |
| Q1 2025 | $327.1M | +20% |
| Q4 2024 | $323.9M | +26% |
MIAX has the edge over JPM on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 13% | +13 points |
| Q2 2026 | 7.2% | -1.2 points |
| Q1 2026 | 12% | +5.6 points |
| Q4 2025 | 12% | +9.4 points |
| Q3 2025 | -0.1% | +0.3 points |
| Q2 2025 | 8.3% | +11 points |
| Q1 2025 | 6.8% | +7.5 points |
| Q4 2024 | 2.2% | +5.1 points |
MIAX's operating margin was 13% last quarter, up 13 points from the same quarter a year ago, near the top of its range since 2023.
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.
MIAX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $106.5M | +131% |
| Q1 2026 | $49.2M | +1515% |
| Q4 2025 | $42.9M | +43% |
| Q2 2025 | $46.2M | -44% |
| Q1 2025 | $3M | -88% |
| Q4 2024 | $30M | +$33.3M |
MIAX's free cash flow was $220M over the past year, more than ten times what it generated the year before. Free cash flow isn't a meaningful measure for financial services companies like MIAX.
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 MIAX 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.
MIAX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +85.8K shares |
| 1 year | +39% | +31.4M shares |
MIAX has 111M diluted shares, up 39% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $8.9M |
| Q2 2026 | $3.8M |
| Q1 2026 | $13.3M |
| Q4 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
MIAX spent $26M 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.
MIAX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -3.5x | Net Cash |
| Q2 2026 | -4.4x | Net Cash |
| Q1 2026 | -3.7x | Net Cash |
| Q4 2025 | -5.1x | Net Cash |
| Q3 2025 | -7.9x | Net Cash |
| Q2 2025 | -2.4x | Net Cash |
| Q1 2025 | -0.7x | Net Cash |
| Q4 2024 | -0.8x | Net Cash |
MIAX 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).
MIAX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.3 | Neutral |
| Stochastic | 32.0 | Neutral |
MIAX's weekly RSI is 45 (neutral) and its Stochastic is 32 (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.
MIAX PE vs Financial Services Sector
MIAX has no meaningful PE right now: it lost money over the past year.
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 stronger trend alignment. JPM is above 4 of 5 weekly averages versus MIAX above 1 of 3.
MIAX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $33.5 | 7.8% above |
| 20 week MA | $39.0 | 7.5% below |
| 50 week MA | $41.6 | 13% below |
MIAX has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 13% below its 50-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 MIAX on returns for 2026, with the stronger performance.
MIAX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $31.1 | $46.7 | +50% |
| 2026 YTD | $46.7 | $36.1 | -23% |
MIAX has finished every year since 2025 higher, and it's down 23% so far in 2026.