JPM
JPMorgan Chase & Co.
JPM has the edge over WD overall, supported by stronger fundamentals and lower modeled downside.
WD
Walker & Dunlop, Inc.
WD 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.
WD Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
WD's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like WD.
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.
WD PE Valuation
WD has no meaningful PE right now: it lost money over the past year.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over WD on the outlook, with more favorable revenue expectations.
WD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Strong growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect WD'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 WD on earnings quality, reporting a profit while its opponent remains loss making.
WD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.88 | — |
| Q3 2026 | -$1.01 | -130% |
| Q2 2026 | $1.12 | -65% |
| Q1 2026 | $2.02 | -31% |
| Q4 2025 | $1.64 | -49% |
| Q3 2025 | $3.37 | +20% |
| Q2 2025 | $3.24 | +25% |
| Q1 2025 | $2.92 | +6.6% |
| Q4 2024 | $3.19 | +0.3% |
WD has swung to a loss: it lost $1.01 per share over the past year, after a profit 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 WD on profitability, with a higher operating margin.
WD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $298.4M | -12% |
| Q2 2026 | $306.7M | -3.9% |
| Q1 2026 | $301.3M | +27% |
| Q4 2025 | $340M | -0.4% |
| Q3 2025 | $337.7M | +16% |
| Q2 2025 | $319.2M | +18% |
| Q1 2025 | $237.4M | +4.1% |
| Q4 2024 | $341.5M | +24% |
WD's revenue fell from its 2021 peak and has held roughly level since: $298M last quarter, down 12% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -16% | -29 points |
| Q2 2026 | 0.7% | -14 points |
| Q1 2026 | 8.6% | +6.4 points |
| Q4 2025 | -5.5% | -21 points |
| Q3 2025 | 14% | +0.8 points |
| Q2 2025 | 15% | +4.1 points |
| Q1 2025 | 2.2% | -3.8 points |
| Q4 2024 | 15% | +0.9 points |
WD's operating margin was −16% last quarter, down 29 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.
WD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $718.9M | +$1.7B |
| Q2 2026 | $1.2B | +$1.4B |
| Q1 2026 | -$1.1B | -$861.1M |
| Q4 2025 | $796.1M | +51% |
| Q3 2025 | -$950.4M | -$746.5M |
| Q2 2025 | -$241M | +$662K |
| Q1 2025 | -$284.7M | -909% |
| Q4 2024 | $526.9M | +60% |
WD 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 WD 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.
WD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +9K shares |
| 1 year | -0.3% | -113K shares |
| 3 years | +1.2% | +389K shares |
| 5 years | +5.8% | +1.8M shares |
| Available history | +8% | +2.5M shares |
WD has 33M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $792,000 |
| Q2 2026 | $298,000 |
| Q1 2026 | $19.1M |
| Q4 2025 | $183,000 |
| Q3 2025 | $1M |
| Q2 2025 | $645,000 |
| Q1 2025 | $8.6M |
| Q4 2024 | $369,000 |
WD spent $20M buying back its own shares over the past year, up 91% 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.
WD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -0.5x | Net Cash |
| Q1 2026 | -0.6x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.6x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | 1.4x | Healthy |
WD 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).
WD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 41.3 | Neutral |
| Stochastic | 36.1 | Neutral |
WD's weekly RSI is 41 (neutral) and its Stochastic is 36 (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 WD on valuation relative to its sector.
WD PE vs Financial Services Sector
| Metric | WD | Sector median | Relative |
|---|---|---|---|
| PE | 31x | 13x | 139% above |
| PE % | 85 | 63 | 22 pts above |
WD has no meaningful PE right now: it lost money over the past year.
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 WD on trend strength, trading above more of its moving averages.
WD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $35.5 | 8.7% above |
| 20 week MA | $41.3 | 6.6% below |
| 50 week MA | $49.3 | 22% below |
| 100 week MA | $64.8 | 40% below |
| 200 week MA | $78.1 | 51% below |
WD has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 51% 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 WD on returns for 2026, with the stronger performance.
WD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $65.0 | $92.6 | +42% |
| 2021 | $92.6 | $149.4 | +61% |
| 2022 | $149.4 | $79.1 | -47% |
| 2023 | $79.1 | $111.0 | +40% |
| 2024 | $111.0 | $96.8 | -13% |
| 2025 | $96.8 | $61.0 | -37% |
| 2026 YTD | $61.0 | $38.6 | -37% |
WD has finished lower in three of the last six years. It's down 37% so far in 2026.