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JPMorgan Chase & Co JPM

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Stock XNYS Rating as of
$212.24 +3.57 (1.71%)
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As of Delayed Price Closed
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Company Report

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JPMorgan Earnings: Higher Rates and One-Time Gains Turbocharge Profits but Valuation Demands Caution

Suryansh Sharma

Wide-moat-rated JPMorgan continued to earn outsize profits in the second quarter as its balance sheet remains favorably positioned for a high interest rate environment. The bank's headline earnings in the second quarter were positively impacted by a nonrecurring gain related to Visa shares of $7.9 billion, which was partially offset by a donation of $1.0 billion to the bank’s foundation and net investment securities losses of $546 million. The gain related to Visa shares was an accounting gain as the bank converted its Visa Class B-1 shares into Class C shares that are being held at fair value. In our opinion, investors should ignore the noise related to these nonrecurring items.

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Price vs Fair Value

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JPM is trading at a 38% premium.
Price
$212.24
Fair Value
$339.00
Uncertainty
Medium
1-Star Price
$296.10
5-Star Price
$722.50
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

JPMorgan has emerged as the most dominant bank in the United States. With leading share in many aspects of banking and financial services, the bank should be in an advantaged position for years to come.

Bears

While higher interest rates are great, they are a double edged sword. If the higher NII and solid economy narrative ever begins to reverse, banking profitability and sentiment will suffer.

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Trading Information

Previous Close Price
$208.67
Day Range
$208.62–213.16
52-Week Range
$135.19–217.56
Bid/Ask
$212.28 / $212.45
Market Cap
$603.84 Bil
Volume/Avg
8.0 Mil / 8.9 Mil

Key Statistics

Price/Earnings (Normalized)
12.43
Price/Sales
3.80
Dividend Yield (Trailing)
2.07%
Dividend Yield (Forward)
2.17%
Total Yield
3.72%

Company Profile

JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with nearly $3.9 trillion in assets. It is organized into four major segments--consumer and community banking, corporate and investment banking, commercial banking, and asset and wealth management. JPMorgan operates, and is subject to regulation, in multiple countries.
Sector
Financial Services
Industry
Banks - Diversified
Stock Style Box
Large Value
Total Number of Employees
18,111
Website
https://www.jpmorganchase.com

Competitors

Valuation

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Metric
JPM
C
WFC
Price/Earnings (Normalized)
 12.4313.3611.64
Price/Book Value
 1.910.651.29
Price/Sales
 3.801.592.63
Price/Cash Flow
 9.194.617.83
Price/Earnings
JPM
C
WFC

Financial Strength

Metric
JPM
C
WFC
Quick Ratio
 ———
Current Ratio
 ———
Interest Coverage
 ———
Quick Ratio
No chart available

Profitability

Metric
JPM
C
WFC
Return on Assets (Normalized)
 1.35%0.37%1.00%
Return on Equity (Normalized)
 18.02%4.74%11.72%
Return on Invested Capital (Normalized)
 ———
Return on Assets
JPM
C
WFC
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Banks - Diversified Industry Comparables

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1-Day Chart
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Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
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RY
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GknxlnhnCxx$127.9 Bil
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C
JhxdrcwZqwl$124.4 Bil
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TD
KqjldvhtqhFqs$102.4 Bil
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ZlrnyrzpDkczjl$98.0 Bil
 Banco Santander SA ADR
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