JPM
JPMorgan Chase & Co.
JPM has the edge over PNNT overall, supported by stronger fundamentals and stronger modeled upside.
PNNT
PennantPark Investment Corporation
PNNT trails on the overall score without a compensating advantage in the available component scores.
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.
PNNT Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Healthy | |
| N/A | |
| N/A |
PNNT's profitability is currently healthy, but its revenue is weak. Free cash flow and net leverage aren't meaningful measures for financial services companies like PNNT.
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 PNNT in the historical PE scenario, which offers more potential upside but is not a forecast.
PNNT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 3x | $0.49 | -85% |
| Forward | 5.6x | $3.25 | — |
| Fair | 7.5x | $1.19 | -63% |
| Expensive | 20x | $3.23 | -0.5% |
| Current | 21x | $3.25 | — |
Historical ranges are pointers, not guarantees.
PNNT's PE is in its expensive range at 21x. On analysts' estimates for next year's earnings, today's price would be 5.6x, in its fair range.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
PNNT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect PNNT's profitability to improve, with its earnings and 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 stronger earnings trend. Trailing diluted EPS is up 18% for JPM versus PNNT down 91%.
PNNT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.58 | +260% |
| Q2 2023 | -$1.23 | -337% |
| Q1 2023 | -$1.83 | -243% |
| Q4 2022 | -$1.85 | -203% |
| Q3 2022 | -$0.37 | -115% |
| Q2 2022 | $0.52 | -77% |
| Q1 2022 | $1.28 | -36% |
| Q4 2021 | $1.80 | +240% |
| Q3 2021 | $2.48 | +$2.72 |
PNNT has returned to profit: it earned $0.16 per share over the past year, after losing money 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 has the stronger quarterly revenue trend. Revenue is up 8.1% for JPM versus down 185% for PNNT.
| 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.
PNNT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2022 | $12M | -73% |
| Q4 2021 | $40.3M | -48% |
| Q3 2021 | $31.8M | +66% |
| Q2 2021 | $39.9M | +70% |
| Q4 2020 | $77.4M | +162% |
| Q3 2020 | $19.2M | -13% |
PNNT's revenue has slid since its 2020 peak: −$27M last quarter, down 185% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2022 | 28% | -58 points |
| Q4 2021 | 76% | -16 points |
| Q3 2021 | 79% | +28 points |
| Q2 2021 | 80% | +13 points |
| Q1 2021 | 86% | N/A |
| Q4 2020 | 92% | +26 points |
| Q3 2020 | 51% | +12 points |
| Q2 2020 | 68% | N/A |
PNNT's operating margin was 28% last quarter, down 58 points from the same quarter a year ago, near the bottom of its range since 2019.
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.
PNNT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $50.1M | -2.7% |
| Q1 2026 | $36.4M | -74% |
| Q4 2025 | $134.5M | +618% |
| Q3 2025 | -$107.8M | -$103.1M |
| Q2 2025 | $51.5M | +$68.3M |
| Q1 2025 | $142.4M | +3247% |
| Q4 2024 | $18.7M | +$173.9M |
| Q3 2024 | -$4.7M | -104% |
PNNT 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 PNNT 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.
PNNT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | 0% | -- |
| 3 years | +0.1% | +71.6K shares |
| 5 years | -2.6% | -1.7M shares |
| Available history | -2.6% | -1.7M shares |
PNNT has 65M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | $1.2M |
| Q2 2022 | $5M |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
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.
PNNT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 14.2x | High |
| Q1 2022 | 5.7x | High |
| Q4 2021 | 6.1x | High |
| Q3 2021 | 3.5x | Elevated |
| Q2 2021 | 3.2x | Elevated |
| Q1 2021 | 1.6x | Healthy |
| Q4 2020 | 2.4x | Moderate |
| Q3 2020 | 3.2x | Elevated |
PNNT's net debt is about 14 years of its operating earnings (EBITDA), up from 3.2 years a year ago. Net leverage isn't a meaningful measure for financial services companies like PNNT.
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).
PNNT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 39.3 | Neutral |
| Stochastic | 37.8 | Neutral |
PNNT's weekly RSI is 39 (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 has the edge over PNNT on valuation relative to its sector.
PNNT PE vs Financial Services Sector
| Metric | PNNT | Sector median | Relative |
|---|---|---|---|
| PE | 21x | 13x | 61% above |
| PE % | 84 | 63 | 21 pts above |
PNNT is trading at 21x earnings, a 61% premium to the Financial Services sector's median of 13x.
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 PNNT on trend strength, trading above more of its moving averages.
PNNT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.16 | 2.8% above |
| 20 week MA | $3.38 | 3.8% below |
| 50 week MA | $4.28 | 24% below |
| 100 week MA | $5.56 | 42% below |
| 200 week MA | $6.05 | 46% below |
PNNT has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 46% below 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 PNNT on returns for 2026, with the stronger performance.
PNNT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $6.60 | $4.52 | -32% |
| 2021 | $4.52 | $6.88 | +52% |
| 2022 | $6.88 | $5.65 | -18% |
| 2023 | $5.65 | $6.91 | +22% |
| 2024 | $6.91 | $6.99 | +1.2% |
| 2025 | $6.99 | $5.93 | -15% |
| 2026 YTD | $5.93 | $3.25 | -45% |
PNNT has finished lower in three of the last six years. It's down 45% so far in 2026.