JPM
JPMorgan Chase & Co.
JPM offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
VEL
Velocity Financial, Inc.
VEL has a slight edge over JPM overall, supported by stronger valuation and stronger modeled upside.
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.
VEL Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Strong | |
| N/A | |
| N/A |
VEL's profitability is currently strong. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like VEL.
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.
VEL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 5.4x | $16.11 | — |
| Current | 5.8x | $16.11 | — |
| Cheap | 7.8x | $21.75 | +35% |
| Fair | 10x | $28.86 | +79% |
| Expensive | 12x | $33.92 | +111% |
Historical ranges are pointers, not guarantees.
VEL 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.
VEL Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for VEL, 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'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.
VEL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.00 | +7.9% |
| Q3 2026 | $2.78 | +15% |
| Q2 2026 | $2.76 | +25% |
| Q1 2026 | $2.81 | +46% |
| Q4 2025 | $2.75 | +44% |
| Q3 2025 | $2.41 | +30% |
| Q2 2025 | $2.20 | +25% |
| Q1 2025 | $1.93 | +14% |
| Q4 2024 | $1.91 | +26% |
VEL 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'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's operating margin was 40% last quarter, about level with the same quarter a year ago.
VEL Quarterly Revenue
VEL and JPM do not have enough comparable growth data to identify a winner.
| Quarter | Margin | YoY |
|---|---|---|
| Q1 2020 | 22% | N/A |
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 has the edge over VEL on cash flow, with more consistent year-over-year improvement.
VEL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$12.3M | -208% |
| Q2 2026 | $3.6M | -52% |
| Q1 2026 | $12M | +248% |
| Q4 2025 | -$4.5M | -114% |
| Q3 2025 | $11.4M | +$29M |
| Q2 2025 | $7.6M | -33% |
| Q1 2025 | $3.5M | -67% |
| Q4 2024 | $33.2M | +27% |
VEL's free cash flow was −$1M over the past year, against $56M the year before. Free cash flow isn't a meaningful measure for financial services companies like VEL.
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 VEL 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.
VEL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +155K shares |
| 1 year | +1.7% | +659K shares |
| 3 years | +14% | +4.7M shares |
| 5 years | +15% | +5.2M shares |
| Available history | +96% | +19.4M shares |
VEL has 39M diluted shares, up 1.7% from a year ago, despite $8M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $361,000 |
| Q2 2026 | $2.7M |
| Q1 2026 | $4.5M |
| Q4 2025 | $1,000 |
| Q3 2025 | $179,000 |
| Q3 2024 | — |
| Q2 2024 | $266,000 |
| Q1 2024 | $1.3M |
VEL spent $8M buying back its own shares over the past year.
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.
VEL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.6x | Net Cash |
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.8x | Net Cash |
| Q2 2025 | -0.7x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
VEL 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).
VEL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.3 | Neutral |
| Stochastic | 46.0 | Neutral |
VEL's weekly RSI is 45 (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 is trading at 14x earnings, a 10% premium to the Financial Services sector's median of 13x.
VEL PE vs Financial Services Sector
| Metric | VEL | Sector median | Relative |
|---|---|---|---|
| PE | 5.8x | 13x | 56% below |
| PE % | 2 | 64 | 62 pts below |
VEL 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 VEL on trend strength, trading above more of its moving averages.
VEL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.5 | 3.8% above |
| 20 week MA | $16.9 | 4.6% below |
| 50 week MA | $18.0 | 10% below |
| 100 week MA | $18.1 | 11% below |
| 200 week MA | $16.5 | 2.1% below |
VEL has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 2.1% 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 VEL on returns for 2026, with the stronger performance.
VEL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.5 | $6.28 | -54% |
| 2021 | $6.28 | $13.3 | +112% |
| 2022 | $13.3 | $9.55 | -28% |
| 2023 | $9.55 | $17.2 | +80% |
| 2024 | $17.2 | $19.7 | +14% |
| 2025 | $19.7 | $19.5 | -0.9% |
| 2026 YTD | $19.5 | $16.1 | -17% |
VEL's yearly returns have swung widely, from +112% in 2021 to −54% in 2020. It's down 17% so far in 2026.