JPM
JPMorgan Chase & Co.
JPM has a slight edge over ONDS overall, supported by lower modeled downside and stronger modeled upside.
ONDS
Ondas Holdings Inc.
ONDS 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.
ONDS Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Weak | |
| Weak | |
| Unavailable |
ONDS's revenue is currently strong, but its profitability and cash flow are weak. There isn't enough data to rate its balance sheet.
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.
ONDS PE Valuation
ONDS has no meaningful PE right now: it lost money over the past year.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over ONDS on the outlook, with more favorable earnings expectations.
ONDS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect ONDS's losses to grow, with revenue growing.
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 ONDS on earnings quality, reporting a profit while its opponent remains loss making.
ONDS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.09 | +$0.32 |
| Q2 2026 | -$0.02 | +$0.51 |
| Q1 2026 | $0.09 | +$0.68 |
| Q4 2025 | -$0.62 | -$0.01 |
| Q3 2025 | -$0.41 | +$0.31 |
| Q2 2025 | -$0.53 | +$0.18 |
| Q1 2025 | -$0.59 | +$0.16 |
| Q4 2024 | -$0.61 | +$0.27 |
ONDS is still losing money, but far less than before: $0.09 per share over the past year, against $1.79 at its worst in early 2023.
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 ONDS on profitability, with a higher operating margin.
ONDS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $167.5M | +1559% |
| Q2 2026 | $83.8M | +1235% |
| Q1 2026 | $50.1M | +1080% |
| Q4 2025 | $30.1M | +629% |
| Q3 2025 | $10.1M | +582% |
| Q2 2025 | $6.3M | +555% |
| Q1 2025 | $4.2M | +580% |
| Q4 2024 | $4.1M | -17% |
ONDS has the edge over JPM on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -113% | +40 points |
| Q2 2026 | -195% | -47 points |
| Q1 2026 | -85% | +158 points |
| Q4 2025 | -77% | +129 points |
| Q3 2025 | -154% | +431 points |
| Q2 2025 | -147% | +720 points |
| Q1 2025 | -243% | +1218 points |
| Q4 2024 | -206% | +49 points |
ONDS's operating margin was −113% last quarter, up 40 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 has the edge over ONDS on cash flow, with more consistent year-over-year improvement.
ONDS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$150.8M | -$139.6M |
| Q2 2026 | -$93.8M | -$85.3M |
| Q1 2026 | -$52.6M | -$45.8M |
| Q4 2025 | -$14.3M | -$6.2M |
| Q3 2025 | -$11.1M | -$2.7M |
| Q2 2025 | -$8.5M | +$1.4M |
| Q1 2025 | -$6.8M | +$1.8M |
| Q4 2024 | -$8.1M | -$2.1M |
ONDS has burned cash in almost every quarter: −$312M over the past year, against −$35M the year before.
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 ONDS 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.
ONDS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +23% | +114M shares |
| 1 year | +489% | +513M shares |
| 3 years | +1363% | +576M shares |
| 5 years | +2983% | +598M shares |
ONDS has 618M diluted shares, up 489% from a year ago.
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.
ONDS Net Leverage
ONDS's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
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).
ONDS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 36.4 | Neutral |
| Stochastic | 15.5 | Oversold |
ONDS's weekly RSI is 36 (neutral) and its Stochastic is 15 (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.
ONDS PE vs Technology Sector
| Metric | ONDS | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
ONDS 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 the edge over ONDS on trend strength, trading above more of its moving averages.
ONDS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.35 | 16% below |
| 20 week MA | $7.23 | 26% below |
| 50 week MA | $8.92 | 40% below |
| 100 week MA | $6.08 | 12% below |
| 200 week MA | $3.57 | 49% above |
ONDS has fallen below most of its moving averages, though it's still 49% 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 ONDS on returns for 2026, with the stronger performance.
ONDS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2019 | $18.0 | $18.0 | 0% |
| 2020 | $18.0 | $7.65 | -57% |
| 2021 | $7.65 | $7.16 | -6.4% |
| 2022 | $7.16 | $1.69 | -76% |
| 2023 | $1.69 | $1.53 | -9.5% |
| 2024 | $1.53 | $2.59 | +69% |
| 2025 | $2.59 | $8.48 | +227% |
| 2026 YTD | $8.48 | $5.32 | -37% |
ONDS's yearly returns have swung widely, from +227% in 2025 to −76% in 2022. It's down 37% so far in 2026.