JPM
JPMorgan Chase & Co.
JPM has a slight edge over SLF overall, supported by stronger modeled upside and stronger fundamentals.
SLF
Sun Life Financial Inc.
SLF 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.
SLF Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
SLF's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like SLF.
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 SLF in the historical PE scenario, which offers more potential upside but is not a forecast.
SLF PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $44.53 | -39% |
| Fair | 14x | $57.21 | -22% |
| Expensive | 16x | $66.78 | -8.4% |
| Current | 18x | $72.88 | — |
Historical ranges are pointers, not guarantees.
SLF's PE is 18x, but its earnings don't support one, so it isn't a reliable read right now.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over SLF on the outlook, with more favorable profitability expectations.
SLF Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Growth | |
| Growth | |
| Weakening | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for SLF, but weaker profitability.
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 SLF on earnings, with more consistent year-over-year improvement.
SLF Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $4.14 | +4.8% |
| Q1 2026 | $3.75 | -2.6% |
| Q4 2025 | $4.32 | +17% |
| Q3 2025 | $3.70 | -14% |
| Q2 2025 | $3.95 | +6.8% |
| Q1 2025 | $3.85 | +3.8% |
| Q4 2024 | $3.68 | -0.3% |
| Q3 2024 | $4.30 | +9.4% |
SLF earned $4.14 per share over the past year, up 4.8% 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 SLF on profitability, with a higher operating margin.
SLF Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $9.8B | +51% |
| Q1 2026 | $6.2B | -22% |
| Q4 2025 | $6.3B | +172% |
| Q3 2025 | $8.7B | -19% |
| Q2 2025 | $6.5B | +3.4% |
| Q1 2025 | $8B | +63% |
| Q4 2024 | $2.3B | -81% |
| Q3 2024 | $10.8B | +548% |
SLF's revenue is recovering but still below its 2023 peak: $9.8B last quarter, up 51% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 9.8% | -0.9 points |
| Q1 2026 | 9.5% | -1.5 points |
| Q4 2025 | 13% | -5.4 points |
| Q3 2025 | 12% | +1 points |
| Q2 2025 | 11% | +0.4 points |
| Q1 2025 | 11% | -6.2 points |
| Q4 2024 | 18% | +14 points |
| Q3 2024 | 11% | -39 points |
SLF's operating margin was 9.8% last quarter, down 0.9 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.
SLF Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $63.3M | -88% |
| Q1 2026 | $2.9B | +$3.2B |
| Q4 2025 | $3.7B | +823% |
| Q3 2025 | $804.3M | -64% |
| Q2 2025 | $539.9M | -54% |
| Q1 2025 | -$290.4M | -187% |
| Q4 2024 | $402.1M | -87% |
| Q3 2024 | $2.3B | +81% |
SLF 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 SLF 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.
SLF Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.4% | -13.6M shares |
| 1 year | -1.8% | -10M shares |
| 3 years | -5.3% | -31M shares |
| 5 years | -5.3% | -31M shares |
| Available history | -6.1% | -36M shares |
SLF has 559M diluted shares, down 1.8% from a year ago, with $613M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $58.4M |
| Q1 2026 | — |
| Q4 2025 | $275.4M |
| Q3 2025 | $279.1M |
| Q2 2025 | $279.8M |
| Q1 2025 | $365.6M |
| Q4 2024 | $175.1M |
| Q3 2024 | $102.6M |
SLF spent $613M buying back its own shares over the past year, down 34% 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.
SLF Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.0x | Very low |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | 1.7x | Healthy |
| Q3 2025 | -0.3x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.3x | Net Cash |
| Q4 2024 | 1.4x | Healthy |
| Q3 2024 | -0.8x | Net Cash |
SLF 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).
SLF Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.3 | Neutral |
SLF's weekly RSI is 43 (neutral) and its Stochastic is 26 (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 SLF on valuation relative to its sector.
SLF PE vs Financial Services Sector
| Metric | SLF | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 13x | 35% above |
| PE % | 93 | 63 | 30 pts above |
SLF is trading at 18x earnings, a 35% 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 has the edge over SLF on trend strength, trading above more of its moving averages.
SLF Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $77.4 | 5.8% below |
| 20 week MA | $79.4 | 8.2% below |
| 50 week MA | $72.0 | 1.2% above |
| 100 week MA | $65.8 | 11% above |
| 200 week MA | $58.6 | 24% above |
SLF has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 24% 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.
SLF Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $45.5 | $43.8 | -3.8% |
| 2021 | $43.8 | $54.6 | +25% |
| 2022 | $54.6 | $46.5 | -15% |
| 2023 | $46.5 | $51.9 | +12% |
| 2024 | $51.9 | $59.5 | +15% |
| 2025 | $59.5 | $62.6 | +5.3% |
| 2026 YTD | $62.6 | $72.9 | +16% |
SLF has the edge over JPM on returns for 2026, with the stronger performance.