JPM
JPMorgan Chase & Co.
JPM has lower modeled downside risk, despite its lower overall score.
ZION
Zions Bancorporation, National Association
ZION 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.
ZION Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
ZION's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like ZION.
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 ZION in the historical PE scenario, which offers more potential upside but is not a forecast.
ZION PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $66.14 | +0.3% |
| Current | 8.1x | $65.95 | — |
| Forward | 9.7x | $65.95 | — |
| Fair | 9.8x | $79.72 | +21% |
| Expensive | 12x | $98.31 | +49% |
Historical ranges are pointers, not guarantees.
ZION's PE is in its cheap range at 8.1x. On analysts' estimates for next year's earnings, today's price would be 9.7x, in its fair range.
JPM Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
JPM has the edge over ZION on the outlook, with more favorable valuation expectations.
ZION Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for ZION, with profitability improving.
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.
ZION Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.81 | -16% |
| Q3 2026 | $8.15 | +46% |
| Q2 2026 | $7.85 | +44% |
| Q1 2026 | $6.43 | +26% |
| Q4 2025 | $6.00 | +21% |
| Q3 2025 | $5.58 | +27% |
| Q2 2025 | $5.47 | +32% |
| Q1 2025 | $5.12 | +29% |
| Q4 2024 | $4.95 | +14% |
ZION 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 has the edge over ZION on profitability, with a higher operating margin.
ZION Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $881M | +2.3% |
| Q2 2026 | $1.1B | +36% |
| Q1 2026 | $849M | +6.8% |
| Q4 2025 | $891M | +8.7% |
| Q3 2025 | $861M | +8.7% |
| Q2 2025 | $838M | +7.9% |
| Q1 2025 | $795M | +7.1% |
| Q4 2024 | $820M | +12% |
ZION's revenue has grown year over year for nine quarters in a row: $881M last quarter, up 2.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 38% | +5 points |
| Q2 2026 | 51% | +14 points |
| Q1 2026 | 35% | +4.6 points |
| Q4 2025 | 38% | +5.1 points |
| Q3 2025 | 33% | -1.9 points |
| Q2 2025 | 37% | +3.5 points |
| Q1 2025 | 30% | +2.7 points |
| Q4 2024 | 33% | +12 points |
ZION's operating margin was 38% last quarter, up 5 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.
ZION Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $860M | +108% |
| Q2 2026 | $389M | +$482M |
| Q1 2026 | $398M | +162% |
| Q4 2025 | $480M | -1.8% |
| Q3 2025 | $413M | +326% |
| Q2 2025 | -$93M | -140% |
| Q1 2025 | $152M | -34% |
| Q4 2024 | $489M | +$763M |
ZION 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 ZION 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.
ZION Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -1.1M shares |
| 1 year | -1.4% | -2M shares |
| 3 years | -1.7% | -2.6M shares |
| 5 years | -9.6% | -15.4M shares |
| Available history | -22% | -41.4M shares |
ZION has 145M diluted shares, down 1.4% from a year ago, with $227M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $75M |
| Q2 2026 | $75M |
| Q1 2026 | $77M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | $41M |
| Q4 2024 | $1M |
ZION spent $227M buying back its own shares over the past year, about five 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 has the edge over ZION on leverage, with a lower net debt burden relative to earnings.
ZION Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.0x | Healthy |
| Q2 2026 | 0.7x | Very low |
| Q1 2026 | 1.0x | Very low |
| Q4 2025 | 3.0x | Elevated |
| Q3 2025 | 0.6x | Very low |
| Q2 2025 | 0.2x | Very low |
| Q1 2025 | 0.1x | Very low |
| Q4 2024 | 3.6x | Elevated |
ZION's net debt is about a year of its operating earnings (EBITDA), up from less than a year a year ago. Net leverage isn't a meaningful measure for financial services companies like ZION.
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).
ZION Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.8 | Neutral |
| Stochastic | 38.7 | Neutral |
ZION's weekly RSI is 52 (neutral) and its Stochastic is 39 (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.
ZION PE vs Financial Services Sector
| Metric | ZION | Sector median | Relative |
|---|---|---|---|
| PE | 8.1x | 13x | 38% below |
| PE % | 16 | 63 | 47 pts below |
ZION 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.
ZION Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $64.4 | 2.4% above |
| 20 week MA | $67.4 | 2.2% below |
| 50 week MA | $63.3 | 4.2% above |
| 100 week MA | $57.8 | 14% above |
| 200 week MA | $49.4 | 34% above |
ZION's trend is mixed: it's above four of its five weekly moving averages, and 34% 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.
ZION Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $51.5 | $43.3 | -16% |
| 2021 | $43.3 | $62.4 | +44% |
| 2022 | $62.4 | $48.5 | -22% |
| 2023 | $48.5 | $43.9 | -9.5% |
| 2024 | $43.9 | $54.7 | +25% |
| 2025 | $54.7 | $59.5 | +8.8% |
| 2026 YTD | $59.5 | $66.0 | +11% |
ZION has the edge over JPM on returns for 2026, with the stronger performance.