JPM
JPMorgan Chase & Co.
JPM's fundamentals are strong, but it looks expensive: trading at 14x earnings, above its usual 12x. Analysts expect earnings growth.
RY
Royal Bank of Canada
There isn't enough reported data to score RY yet.
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.
RY Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
RY's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like RY.
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.
RY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 12x | $129 | -36% |
| Fair | 13x | $142 | -30% |
| Expensive | 16x | $169 | -17% |
| Current | 19x | $203 | — |
Historical ranges are pointers, not guarantees.
RY 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.
RY Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for RY, with profitability improving.
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% |
RY has the stronger earnings trend. Trailing diluted EPS is up 18% for JPM versus RY up 23%.
RY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $10.82 | +23% |
| Q1 2026 | $10.24 | +19% |
| Q4 2025 | $9.89 | +25% |
| Q3 2025 | $9.29 | +18% |
| Q2 2025 | $8.83 | +16% |
| Q1 2025 | $8.63 | +15% |
| Q4 2024 | $7.90 | +7% |
| Q3 2024 | $7.90 | +8.5% |
RY's earnings per share have climbed steadily: $10.82 over the past year, up 23% from the year before, and higher year over year for 10 quarters in a row.
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% |
RY has the stronger quarterly revenue trend. Revenue is up 8.1% for JPM versus up 117% for RY.
| 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.
RY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $23.9B | +117% |
| Q1 2026 | $12.6B | +7.3% |
| Q4 2025 | $12.1B | -49% |
| Q3 2025 | $11.9B | +16% |
| Q2 2025 | $11B | +11% |
| Q1 2025 | $11.8B | +24% |
| Q4 2024 | $23.8B | +160% |
| Q3 2024 | $10.3B | +1% |
RY's revenue is growing: $23.9B last quarter, up 117% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 21% | -14 points |
| Q1 2026 | 41% | +2.8 points |
| Q4 2025 | 40% | +24 points |
| Q3 2025 | 40% | +3.7 points |
| Q2 2025 | 35% | +0.4 points |
| Q1 2025 | 38% | +6.2 points |
| Q4 2024 | 15% | -16 points |
| Q3 2024 | 37% | +4.7 points |
RY's operating margin was 21% last quarter, down 14 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.
RY Free Cash Flow
RY and JPM do not have enough comparable growth data to identify a winner.
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 RY 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.
RY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -8.6M shares |
| 1 year | -1.4% | -20.2M shares |
| 3 years | +0.2% | +3.2M shares |
| 5 years | -2.4% | -33.8M shares |
| Available history | -2.8% | -39.7M shares |
RY has 1.4B diluted shares, down 1.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $3.5B |
| Q4 2024 | $1.5B |
| Q4 2022 | $810.6M |
| Q3 2022 | $1B |
| Q2 2022 | $1B |
| Q1 2022 | $1.2B |
| Q4 2021 | $841.5M |
| Q3 2021 | $1.1B |
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.
RY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 10.6x | High |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -0.8x | Net Cash |
| Q3 2025 | -0.8x | Net Cash |
| Q2 2025 | -1.4x | Net Cash |
| Q1 2025 | -2.3x | Net Cash |
| Q4 2024 | 28.8x | High |
| Q3 2024 | -1.9x | Net Cash |
RY's net debt is about 11 years of its operating earnings (EBITDA), after holding more cash than debt a year ago. Net leverage isn't a meaningful measure for financial services companies like RY.
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).
RY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 55.7 | Neutral |
| Stochastic | 45.9 | Neutral |
RY's weekly RSI is 56 (neutral) and its Stochastic is 46 (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 RY on valuation relative to its sector.
RY PE vs Financial Services Sector
| Metric | RY | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 13x | 44% above |
| PE % | 97 | 63 | 34 pts above |
RY is trading at 19x earnings, a 44% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
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.
RY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $199.4 | 1.6% above |
| 20 week MA | $205.1 | 1.2% below |
| 50 week MA | $187.0 | 8.4% above |
| 100 week MA | $158.3 | 28% above |
| 200 week MA | $130.1 | 56% above |
RY's trend is mixed: it's above four of its five weekly moving averages, and 56% 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.
RY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $79.1 | $81.9 | +3.5% |
| 2021 | $81.9 | $104.3 | +27% |
| 2022 | $104.3 | $94.4 | -9.5% |
| 2023 | $94.4 | $101.1 | +7.2% |
| 2024 | $101.1 | $120.9 | +20% |
| 2025 | $120.9 | $171.5 | +42% |
| 2026 YTD | $171.5 | $202.6 | +18% |
RY has the edge over JPM on returns for 2026, with the stronger performance.