JPM
JPMorgan Chase & Co.
JPM has slightly lower modeled downside risk, despite its lower overall score.
TRV
The Travelers Companies, Inc.
TRV has the edge over JPM overall, supported by stronger valuation and stronger fundamentals.
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.
TRV Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
TRV's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like TRV.
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.
TRV PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $407 | +0.9% |
| Current | 11x | $403 | — |
| Fair | 13x | $505 | +25% |
| Forward | 13x | $403 | — |
| Expensive | 16x | $603 | +50% |
Historical ranges are pointers, not guarantees.
TRV 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 TRV on the outlook, with more favorable valuation and revenue expectations.
TRV Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Stable | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect TRV's earnings to grow and its profitability to improve, with its 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'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.
TRV Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $30.64 | -19% |
| Q3 2026 | $38.04 | +50% |
| Q2 2026 | $37.24 | +65% |
| Q1 2026 | $33.51 | +82% |
| Q4 2025 | $27.43 | +28% |
| Q3 2025 | $25.43 | +30% |
| Q2 2025 | $22.61 | +43% |
| Q1 2025 | $18.37 | +36% |
| Q4 2024 | $21.47 | +68% |
TRV has the edge over JPM on earnings, with stronger typical year-over-year growth.
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 TRV on sales, with stronger typical year-over-year growth.
| 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 TRV on profitability, with a higher operating margin.
TRV Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $12.4B | -0.5% |
| Q2 2026 | $12.2B | +0.3% |
| Q1 2026 | $11.9B | +1% |
| Q4 2025 | $12.4B | +3.5% |
| Q3 2025 | $12.5B | +4.8% |
| Q2 2025 | $12.1B | +7.4% |
| Q1 2025 | $11.8B | +5.2% |
| Q4 2024 | $12B | +9.9% |
TRV's revenue grew through 2024 and has held roughly level since: $12.4B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 19% | +0.3 points |
| Q2 2026 | 23% | +7.3 points |
| Q1 2026 | 18% | +14 points |
| Q4 2025 | 25% | +3.4 points |
| Q3 2025 | 19% | +5.7 points |
| Q2 2025 | 16% | +9.7 points |
| Q1 2025 | 4% | -8.2 points |
| Q4 2024 | 22% | +3.1 points |
TRV's operating margin was 19% last quarter, about level with 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.
TRV Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.9B | -8.3% |
| Q2 2026 | $1.9B | -18% |
| Q1 2026 | $2.2B | +62% |
| Q4 2025 | $2.7B | +30% |
| Q3 2025 | $4.2B | +9.1% |
| Q2 2025 | $2.3B | +39% |
| Q1 2025 | $1.4B | -6.7% |
| Q4 2024 | $2.1B | -1.9% |
TRV 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 2.7B diluted shares, down 3.1% from a year ago, with $24.5B in buybacks over the past year.
| 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.
TRV Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -3M shares |
| 1 year | -7.4% | -16.9M shares |
| 3 years | -8.9% | -20.5M shares |
| 5 years | -16% | -39.5M shares |
| Available history | -20% | -51.7M shares |
TRV has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $1.5B |
| Q2 2026 | $1.3B |
| Q1 2026 | $1.8B |
| Q4 2025 | $1.6B |
| Q3 2025 | $619M |
| Q2 2025 | $500M |
| Q1 2025 | $250M |
| Q4 2024 | $256M |
TRV spent $6.2B buying back its own shares over the past year, about four times what it spent 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.
TRV Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | -0.1x | Net Cash |
| Q1 2026 | -0.1x | Net Cash |
| Q4 2025 | -0.1x | Net Cash |
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.1x | Net Cash |
| Q4 2024 | -0.1x | Net Cash |
TRV 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).
TRV Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 70.5 | Overbought |
| Stochastic | 73.3 | Neutral |
TRV's weekly RSI is 70 (overbought) and its Stochastic is 73 (neutral).
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.
TRV PE vs Financial Services Sector
| Metric | TRV | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 13x | 19% below |
| PE % | 15 | 63 | 48 pts below |
TRV 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's trend is mixed: it's above four of its five weekly moving averages, and 45% above its 200-week average.
TRV Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $384.3 | 4.9% above |
| 20 week MA | $374.7 | 7.6% above |
| 50 week MA | $327.7 | 23% above |
| 100 week MA | $295.1 | 37% above |
| 200 week MA | $247.2 | 63% above |
TRV has the edge over JPM on trend strength, trading above more of its moving averages.
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.
TRV Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $136.8 | $138.5 | +1.2% |
| 2021 | $138.5 | $154.7 | +12% |
| 2022 | $154.7 | $189.5 | +23% |
| 2023 | $189.5 | $190.5 | +0.5% |
| 2024 | $190.5 | $241.4 | +27% |
| 2025 | $241.4 | $292.1 | +21% |
| 2026 YTD | $292.1 | $403.2 | +38% |
TRV has the edge over JPM on returns for 2026, with the stronger performance.