JPM
JPMorgan Chase & Co.
JPM's outlook is improving, though it still trails on the overall score.
NTRS
Northern Trust Corporation
NTRS 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.
NTRS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
NTRS's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like NTRS.
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.
NTRS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $155 | -13% |
| Current | 14x | $178 | — |
| Forward | 14x | $178 | — |
| Fair | 15x | $188 | +6% |
| Expensive | 18x | $235 | +32% |
Historical ranges are pointers, not guarantees.
NTRS 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 NTRS on the outlook, with more favorable revenue expectations.
NTRS Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect NTRS'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'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.
NTRS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.59 | -1.3% |
| Q3 2026 | $12.76 | +49% |
| Q2 2026 | $11.65 | +37% |
| Q1 2026 | $9.55 | -11% |
| Q4 2025 | $8.74 | -11% |
| Q3 2025 | $8.57 | +6.6% |
| Q2 2025 | $8.50 | +16% |
| Q1 2025 | $10.71 | +136% |
| Q4 2024 | $9.77 | +92% |
NTRS earned $12.76 per share over the past year, up 49% 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 NTRS on profitability, with a higher operating margin.
NTRS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.3B | +13% |
| Q2 2026 | $2.7B | +35% |
| Q1 2026 | $2.2B | +14% |
| Q4 2025 | $2.1B | +8.3% |
| Q3 2025 | $2B | +2.9% |
| Q2 2025 | $2B | -26% |
| Q1 2025 | $1.9B | +18% |
| Q4 2024 | $2B | +27% |
NTRS has the edge over JPM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 35% | +4.1 points |
| Q2 2026 | 39% | +11 points |
| Q1 2026 | 32% | +4.9 points |
| Q4 2025 | 30% | -0.5 points |
| Q3 2025 | 31% | +0.1 points |
| Q2 2025 | 28% | -15 points |
| Q1 2025 | 27% | +9.2 points |
| Q4 2024 | 30% | +21 points |
NTRS's operating margin was 35% last quarter, up 4.1 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.
NTRS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.8B | +254% |
| Q2 2026 | -$90.3M | -105% |
| Q1 2026 | -$329.4M | -112% |
| Q4 2025 | $355.6M | +$3B |
| Q3 2025 | $509.4M | -13% |
| Q2 2025 | $1.9B | -37% |
| Q1 2025 | $2.7B | +$4.2B |
| Q4 2024 | -$2.7B | -198% |
NTRS 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.
NTRS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.9% | -1.7M shares |
| 1 year | -4.1% | -7.8M shares |
| 3 years | -12% | -24.1M shares |
| 5 years | -12% | -25.7M shares |
| Available history | -15% | -32.4M shares |
NTRS has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $352.3M |
| Q2 2026 | $350.6M |
| Q1 2026 | $358.9M |
| Q4 2025 | $369.9M |
| Q3 2025 | $277M |
| Q2 2025 | $339.4M |
| Q1 2025 | $287.2M |
| Q4 2024 | $253.6M |
NTRS spent $1.4B buying back its own shares over the past year, up 24% 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 has the edge over NTRS on leverage, with a lower net debt burden relative to earnings.
NTRS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.4x | Healthy |
| Q2 2026 | 1.6x | Healthy |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 2.2x | Moderate |
| Q3 2025 | 1.3x | Healthy |
| Q2 2025 | 1.0x | Very low |
| Q1 2025 | 1.4x | Healthy |
| Q4 2024 | 2.0x | Healthy |
NTRS's net debt is about 1.4 years of its operating earnings (EBITDA), about the same as a year ago. Net leverage isn't a meaningful measure for financial services companies like NTRS.
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).
NTRS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 56.4 | Neutral |
| Stochastic | 37.9 | Neutral |
NTRS's weekly RSI is 56 (neutral) and its Stochastic is 38 (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.
NTRS PE vs Financial Services Sector
| Metric | NTRS | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 13x | 7% above |
| PE % | 42 | 63 | 21 pts below |
NTRS 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.
NTRS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $171.1 | 3.9% above |
| 20 week MA | $178.9 | 0.7% below |
| 50 week MA | $162.4 | 9.4% above |
| 100 week MA | $138.6 | 28% above |
| 200 week MA | $111.2 | 60% above |
NTRS's trend is mixed: it's above four of its five weekly moving averages, and 60% 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 finished higher in four of the last six years. It's up 4.5% so far in 2026.
NTRS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $107.0 | $91.6 | -14% |
| 2021 | $91.6 | $118.2 | +29% |
| 2022 | $118.2 | $88.0 | -26% |
| 2023 | $88.0 | $84.4 | -4.1% |
| 2024 | $84.4 | $103.8 | +23% |
| 2025 | $103.8 | $140.1 | +35% |
| 2026 YTD | $140.1 | $177.7 | +27% |
NTRS has the edge over JPM on returns for 2026, with the stronger performance.