JPM
JPMorgan Chase & Co.
JPM has the edge over NRIM overall, supported by stronger fundamentals and stronger modeled upside.
NRIM
Northrim BanCorp, Inc.
NRIM 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.
NRIM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
NRIM'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 NRIM.
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.
NRIM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.4x | $18.20 | -24% |
| Fair | 8.8x | $21.73 | -9.7% |
| Forward | 9.2x | $24.05 | — |
| Current | 9.7x | $24.05 | — |
| Expensive | 11x | $28.11 | +17% |
Historical ranges are pointers, not guarantees.
NRIM 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.
NRIM Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for NRIM, but weaker profitability.
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's earnings per share have climbed steadily: $23.85 over the past year, up 18% from the year before, and higher year over year for 15 quarters in a row.
NRIM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.63 | +6.3% |
| Q3 2026 | $2.47 | -12% |
| Q2 2026 | $3.04 | +52% |
| Q1 2026 | $2.88 | +53% |
| Q4 2025 | $2.87 | +73% |
| Q3 2025 | $2.80 | +90% |
| Q2 2025 | $2.00 | +39% |
| Q1 2025 | $1.88 | +47% |
| Q4 2024 | $1.66 | +48% |
NRIM earned $2.47 per share over the past year, down 12% 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 NRIM on profitability, with a higher operating margin.
NRIM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $59.6M | -10% |
| Q2 2026 | $53.9M | +7.2% |
| Q1 2026 | $49.5M | +8.9% |
| Q4 2025 | $51.7M | +18% |
| Q3 2025 | $66.6M | +65% |
| Q2 2025 | $50.2M | +37% |
| Q1 2025 | $45.5M | +33% |
| Q4 2024 | $43.9M | +32% |
NRIM has the edge over JPM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 31% | -21 points |
| Q2 2026 | 38% | +6.1 points |
| Q1 2026 | 36% | -2.4 points |
| Q4 2025 | 32% | +1.8 points |
| Q3 2025 | 52% | +23 points |
| Q2 2025 | 31% | -0.2 points |
| Q1 2025 | 39% | +8 points |
| Q4 2024 | 30% | +5.2 points |
NRIM's operating margin was 31% last quarter, down 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.
NRIM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$14.4M | -116% |
| Q2 2026 | $39.5M | +$44.2M |
| Q1 2026 | $24.3M | +49% |
| Q4 2025 | $32.3M | -12% |
| Q3 2025 | $89.9M | +$90.3M |
| Q2 2025 | -$4.7M | +$34.2M |
| Q1 2025 | $16.3M | +$22.9M |
| Q4 2024 | $36.5M | -26% |
NRIM 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 NRIM 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.
NRIM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +33.2K shares |
| 1 year | +0.3% | +75K shares |
| 3 years | +0.3% | +78K shares |
| 5 years | -9.9% | -2.5M shares |
| Available history | -17% | -4.7M shares |
NRIM has 23M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $1,000 |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | $788,000 |
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.
NRIM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2019 | -0.4x | Net Cash |
NRIM has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like NRIM.
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).
NRIM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.9 | Neutral |
| Stochastic | 18.0 | Oversold |
NRIM's weekly RSI is 44 (neutral) and its Stochastic is 18 (oversold).
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.
NRIM PE vs Financial Services Sector
| Metric | NRIM | Sector median | Relative |
|---|---|---|---|
| PE | 9.7x | 13x | 25% below |
| PE % | 62 | 63 | 1 pt below |
NRIM 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 NRIM on trend strength, trading above more of its moving averages.
NRIM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $24.1 | 0.2% below |
| 20 week MA | $25.6 | 6% below |
| 50 week MA | $25.3 | 4.9% below |
| 100 week MA | $23.3 | 3.4% above |
| 200 week MA | $18.2 | 32% above |
NRIM has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 32% 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 NRIM on returns for 2026, with the stronger performance.
NRIM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.49 | $8.24 | -13% |
| 2021 | $8.24 | $10.7 | +30% |
| 2022 | $10.7 | $13.7 | +27% |
| 2023 | $13.7 | $14.3 | +4.7% |
| 2024 | $14.3 | $19.3 | +35% |
| 2025 | $19.3 | $27.1 | +41% |
| 2026 YTD | $27.1 | $24.1 | -11% |
NRIM has finished higher in five of the last six years. It's down 11% so far in 2026.