JPM
JPMorgan Chase & Co.
JPM has the edge over MTG overall, supported by stronger fundamentals and stronger modeled upside.
MTG
MGIC Investment Corporation
MTG offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
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.
MTG Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
MTG'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 MTG.
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 MTG in the historical PE scenario, which offers more potential upside but is not a forecast.
MTG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 5.7x | $18.32 | -34% |
| Fair | 8.2x | $26.43 | -4.8% |
| Forward | 8.3x | $27.76 | — |
| Current | 8.6x | $27.76 | — |
| Expensive | 9.3x | $29.95 | +7.9% |
Historical ranges are pointers, not guarantees.
MTG's PE is in its fair range at 8.6x. If earnings grow as analysts expect, today's price would be 8.3x next year's earnings.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over MTG on the outlook, with more favorable revenue expectations.
MTG Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect MTG'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 MTG on earnings, with stronger typical year-over-year growth.
MTG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.36 | +4.4% |
| Q3 2026 | $3.22 | +3.9% |
| Q2 2026 | $3.20 | +5.3% |
| Q1 2026 | $3.15 | +5% |
| Q4 2025 | $3.14 | +8.7% |
| Q3 2025 | $3.10 | +9.2% |
| Q2 2025 | $3.04 | +12% |
| Q1 2025 | $3.00 | +15% |
| Q4 2024 | $2.89 | +16% |
MTG's earnings per share have climbed steadily: $3.22 over the past year, up 3.9% from the year before, and higher year over year for 10 quarters in a row.
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 has the edge over MTG on sales, with more consistent year-over-year improvement.
| 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.
MTG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $299.1M | -1.8% |
| Q2 2026 | $295.4M | -2.9% |
| Q1 2026 | $297.1M | -3% |
| Q4 2025 | $298.7M | -0.9% |
| Q3 2025 | $304.5M | -0.7% |
| Q2 2025 | $304.2M | -0.3% |
| Q1 2025 | $306.2M | +4% |
| Q4 2024 | $301.4M | +6.2% |
MTG's revenue has held roughly level: $299M last quarter, down 1.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 74% | -3.2 points |
| Q2 2026 | 78% | -3 points |
| Q1 2026 | 70% | -7 points |
| Q4 2025 | 71% | -6.6 points |
| Q3 2025 | 77% | -5.7 points |
| Q2 2025 | 81% | -4.2 points |
| Q1 2025 | 77% | +1.9 points |
| Q4 2024 | 78% | -3.1 points |
MTG 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.
MTG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $216.3M | +0.6% |
| Q2 2026 | $184.5M | +0.8% |
| Q1 2026 | $76.7M | -66% |
| Q4 2025 | $230.2M | +27% |
| Q3 2025 | $215.1M | +18% |
| Q2 2025 | $183M | +8.3% |
| Q1 2025 | $223.5M | +17% |
| Q4 2024 | $181.9M | -2.1% |
MTG 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 2.7B diluted shares, down 3.1% from a year ago, with $24.5B in buybacks over the past year.
| 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.
MTG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.6% | -5.5M shares |
| 1 year | -11% | -26M shares |
| 3 years | -28% | -80.2M shares |
| 5 years | -42% | -148M shares |
| Available history | -45% | -169M shares |
MTG has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $151.7M |
| Q2 2026 | $184.7M |
| Q1 2026 | $192.4M |
| Q4 2025 | $189.2M |
| Q3 2025 | $187.9M |
| Q2 2025 | $186.4M |
| Q1 2025 | $225.2M |
| Q4 2024 | $194.7M |
MTG spent $718M buying back its own shares over the past year, down 9.6% 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.
MTG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.5x | Very low |
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 0.5x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.4x | Very low |
| Q2 2025 | 0.4x | Very low |
| Q1 2025 | 0.4x | Very low |
| Q4 2024 | 0.4x | Very low |
MTG'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 MTG.
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).
MTG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.6 | Neutral |
| Stochastic | 42.7 | Neutral |
MTG's weekly RSI is 46 (neutral) and its Stochastic is 43 (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.
MTG PE vs Financial Services Sector
| Metric | MTG | Sector median | Relative |
|---|---|---|---|
| PE | 8.6x | 13x | 34% below |
| PE % | 62 | 63 | 1 pt below |
MTG 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 has the edge over MTG on trend strength, trading above more of its moving averages.
MTG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $28.0 | 1% below |
| 20 week MA | $29.2 | 5.1% below |
| 50 week MA | $27.9 | 0.5% below |
| 100 week MA | $27.0 | 2.9% above |
| 200 week MA | $23.1 | 20% above |
MTG has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 20% 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 MTG on returns for 2026, with the stronger performance.
MTG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $14.1 | $12.3 | -13% |
| 2021 | $12.3 | $14.1 | +15% |
| 2022 | $14.1 | $12.9 | -8.2% |
| 2023 | $12.9 | $19.3 | +49% |
| 2024 | $19.3 | $23.7 | +23% |
| 2025 | $23.7 | $29.8 | +26% |
| 2026 YTD | $29.8 | $27.8 | -6.8% |
MTG has finished higher in four of the last six years. It's down 6.8% so far in 2026.