JPM
JPMorgan Chase & Co.
JPM has the edge over VOYA overall, supported by stronger fundamentals and stronger valuation.
VOYA
Voya Financial, Inc.
VOYA's outlook is improving, though it still trails on the overall score.
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.
VOYA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
VOYA'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 VOYA.
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 VOYA in the historical PE scenario, which offers more potential upside but is not a forecast.
VOYA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 7.7x | $47.81 | -53% |
| Forward | 9.4x | $102 | — |
| Fair | 12x | $73.20 | -28% |
| Expensive | 15x | $93.42 | -8.6% |
| Current | 16x | $102 | — |
Historical ranges are pointers, not guarantees.
VOYA's PE is in its expensive range at 16x. If earnings grow as analysts expect, today's price would be 9.4x next year's earnings, in its cheap range.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for JPM, with profitability improving.
VOYA Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect VOYA'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 has the edge over VOYA on earnings, with more consistent year-over-year improvement.
VOYA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.92 | +76% |
| Q3 2026 | $6.22 | +6% |
| Q2 2026 | $5.93 | +17% |
| Q1 2026 | $6.62 | +24% |
| Q4 2025 | $6.29 | +1.9% |
| Q3 2025 | $5.87 | -6.4% |
| Q2 2025 | $5.05 | -33% |
| Q1 2025 | $5.35 | -24% |
| Q4 2024 | $6.17 | +14% |
VOYA's earnings per share have fallen from their peak: $6.22 over the past year, against $16.61 in late 2021.
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 VOYA 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 VOYA on profitability, with a higher operating margin.
VOYA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2B | -4.8% |
| Q2 2026 | $1.9B | -4.3% |
| Q1 2026 | $2B | +3.1% |
| Q4 2025 | $2.1B | +5% |
| Q3 2025 | $2.1B | +8.8% |
| Q2 2025 | $2B | -2.6% |
| Q1 2025 | $2B | -4% |
| Q4 2024 | $2B | +11% |
VOYA's revenue fell from its 2021 peak and has held roughly level since: $2B last quarter, down 4.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 14% | -0.3 points |
| Q2 2026 | 1.8% | -7.7 points |
| Q1 2026 | 11% | +2.5 points |
| Q4 2025 | 8% | +2 points |
| Q3 2025 | 14% | +8.5 points |
| Q2 2025 | 9.5% | -4.1 points |
| Q1 2025 | 8.8% | -5.2 points |
| Q4 2024 | 6% | +0.4 points |
VOYA's operating margin was 14% 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.
VOYA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $644M | +283% |
| Q2 2026 | $503M | -32% |
| Q1 2026 | -$36M | +$143M |
| Q4 2025 | $557M | +605% |
| Q3 2025 | $168M | -77% |
| Q2 2025 | $742M | +135% |
| Q1 2025 | -$179M | -177% |
| Q4 2024 | $79M | -78% |
VOYA 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.
VOYA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | -5.2% | -5.1M shares |
| 3 years | -15% | -16.1M shares |
| 5 years | -25% | -30.1M shares |
| Available history | -37% | -54.7M shares |
VOYA has the edge over JPM on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100M |
| Q2 2026 | $150M |
| Q1 2026 | $150M |
| Q4 2025 | $100M |
| Q3 2025 | $100M |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $120M |
VOYA spent $500M buying back its own shares over the past year, up 127% 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.
VOYA Net Leverage
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).
VOYA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.9 | Neutral |
| Stochastic | 55.4 | Neutral |
VOYA's weekly RSI is 65 (neutral) and its Stochastic is 55 (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 VOYA on valuation relative to its sector.
VOYA PE vs Financial Services Sector
| Metric | VOYA | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 13x | 26% above |
| PE % | 91 | 63 | 28 pts above |
VOYA is trading at 16x earnings, a 26% premium to the Financial Services sector's median of 13x.
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.
VOYA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $97.2 | 5.2% above |
| 20 week MA | $99.0 | 3.3% above |
| 50 week MA | $85.5 | 20% above |
| 100 week MA | $77.6 | 32% above |
| 200 week MA | $74.9 | 37% above |
VOYA 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.
VOYA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $60.5 | $57.4 | -5.1% |
| 2021 | $57.4 | $67.6 | +18% |
| 2022 | $67.6 | $61.9 | -8.5% |
| 2023 | $61.9 | $73.0 | +18% |
| 2024 | $73.0 | $68.6 | -6% |
| 2025 | $68.6 | $75.1 | +9.5% |
| 2026 YTD | $75.1 | $102.2 | +36% |
VOYA has the edge over JPM on returns for 2026, with the stronger performance.