JPM
JPMorgan Chase & Co.
JPM has the edge over QFIN overall, supported by stronger fundamentals and lower modeled downside.
QFIN
Qfin Holdings, Inc.
QFIN 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.
QFIN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Healthy | |
| N/A | |
| N/A |
QFIN's profitability is currently healthy, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like QFIN.
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.
QFIN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 0.7x | $5.15 | — |
| Cheap | 2.6x | $18.64 | +262% |
| Fair | 4.6x | $32.73 | +535% |
| Expensive | 6.7x | $47.38 | +820% |
Historical ranges are pointers, not guarantees.
QFIN 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 QFIN on the outlook, with more favorable earnings and revenue expectations.
QFIN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect QFIN's earnings and revenue to decline, with profitability weakening.
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.
QFIN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $7.06 | -6.9% |
| Q1 2026 | $7.96 | +13% |
| Q4 2025 | $7.70 | +23% |
| Q3 2025 | $7.41 | +41% |
| Q2 2025 | $7.58 | +68% |
| Q1 2025 | $7.03 | +68% |
| Q4 2024 | $6.25 | +59% |
| Q3 2024 | $5.25 | +58% |
QFIN earned $7.06 per share over the past year, down 6.9% 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 has the edge over QFIN 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 has the edge over QFIN on profitability, with a higher operating margin.
QFIN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $533.7M | -18% |
| Q1 2026 | $586.7M | -3.7% |
| Q4 2025 | $511.6M | -24% |
| Q3 2025 | $781.2M | +19% |
| Q2 2025 | $649.6M | +4.1% |
| Q1 2025 | $609.2M | -2.3% |
| Q4 2024 | $672.7M | -0.3% |
| Q3 2024 | $655.8M | +2.1% |
QFIN's revenue is shrinking: $534M last quarter, down 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 32% | -18 points |
| Q1 2026 | 28% | -26 points |
| Q4 2025 | 34% | -8.4 points |
| Q3 2025 | 33% | -20 points |
| Q2 2025 | 50% | +2.5 points |
| Q1 2025 | 55% | +22 points |
| Q4 2024 | 42% | +14 points |
| Q3 2024 | 52% | +20 points |
QFIN's operating margin was 32% last quarter, down 18 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.
QFIN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $162.8M | -59% |
| Q1 2026 | $314.8M | -25% |
| Q4 2025 | $0 | -100% |
| Q3 2025 | $375.4M | +5.5% |
| Q2 2025 | $393.5M | +34% |
| Q1 2025 | $421.1M | +43% |
| Q4 2024 | $435M | +28% |
| Q3 2024 | $355.9M | +91% |
QFIN 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 QFIN 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.
QFIN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +4.9% | +6.7M shares |
| 3 years | -14% | -22.8M shares |
| 5 years | -11% | -18.4M shares |
| Available history | -4.6% | -6.9M shares |
QFIN has 143M diluted shares, up 4.9% from a year ago, despite $707M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | $706.5M |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $446.2M |
| Q3 2024 | — |
QFIN spent $707M buying back its own shares over the past year, up 58% 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.
QFIN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.8x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.0x | Net Cash |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | -0.4x | Net Cash |
| Q3 2024 | -0.4x | Net Cash |
QFIN has the edge over JPM on leverage, with a lower net debt burden relative to earnings.
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).
QFIN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 24.0 | Oversold |
| Stochastic | 2.9 | Oversold |
QFIN's weekly RSI is 24 (oversold) and its Stochastic is 3 (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.
QFIN PE vs Financial Services Sector
| Metric | QFIN | Sector median | Relative |
|---|---|---|---|
| PE | 0.7x | 13x | 94% below |
| PE % | 0 | 63 | 63 pts below |
QFIN 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 QFIN on trend strength, trading above more of its moving averages.
QFIN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $5.85 | 12% below |
| 20 week MA | $9.34 | 45% below |
| 50 week MA | $13.0 | 60% below |
| 100 week MA | $24.5 | 79% below |
| 200 week MA | $22.3 | 77% below |
QFIN is in a downtrend: it's below all five of its weekly moving averages, and 77% 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 QFIN on returns for 2026, with the stronger performance.
QFIN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.41 | $10.8 | +15% |
| 2021 | $10.8 | $22.0 | +103% |
| 2022 | $22.0 | $19.3 | -12% |
| 2023 | $19.3 | $15.8 | -18% |
| 2024 | $15.8 | $38.2 | +141% |
| 2025 | $38.2 | $20.0 | -48% |
| 2026 YTD | $20.0 | $5.15 | -74% |
QFIN's yearly returns have swung widely, from +141% in 2024 to −48% in 2025. It's down 74% so far in 2026.