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JPMorgan Chase & Co. JPM

Financial ServicesBanks - DiversifiedNYSE📅 Scored March 7, 2026
Price at analysis: $294.01
Crucible Score
65.4
B-
Quality × Value Composite
KQI — Quality
63.9
B-
Fundamental Quality Index
KVI — Value
67.3
B-
Valuation Attractiveness Index
Crucible Verdict — JPM

JPMorgan Chase & Co. earns a solid B- grade with strong financial quality (80) offsetting a notably weak competitive moat (43) in an increasingly digital banking landscape. JPM trades at a modest 6% discount to fair value, suggesting limited upside despite Jamie Dimon's proven 20-year leadership track record. The bank's diversification across business lines provides stability, but eroding moat durability remains the key long-term risk to monitor.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality
79.8
Growth Profile
58.1
Moat Durability
43.3
Management Effectiveness
72.3
Diversification & Resilience
76.2
Market Position
68.0
Weakest dimension: Moat Durability (43.3)

◆ KVI Value Dimensions

DCF Margin of Safety
58.8
FCF Yield & Cash Returns
80.6
Relative Valuation
80.0
Growth-Adjusted Value
77.1
Historical Valuation
20.7
Macro Context
85.8

◆ DCF Valuation Scenarios

Bear Case
$215.42
Base Case
$312.58
Bull Case
$438.75
Price at Analysis
$294.01
ScenarioFair ValueRev CAGR (5yr)Terminal MarginWACC
🔴 Bear$215.424.0%23.0%10.0%
🟢 Base$312.586.0%26.0%9.3%
🟢 Bull$438.758.0%29.0%8.7%
Key Assumptions: JPM is modeled as a bank with zero traditional capex; FCF is derived from NOPAT using operating margins applied to projected revenue. Historical revenue grew from ~$127B to ~$280B over 5 years driven by rate environment and acquisitions; base case assumes normalization to 6% CAGR with 26% operating margins consistent with recent trends. WACC uses CAPM with 5.12% ERP for base (reflecting large-cap diversified bank risk), and bear/bull scenarios shift ERP and growth assumptions to reflect credit cycle deterioration or continued favorable conditions respectively. Net debt is adjusted using most recent total debt of ~$500B less cash of ~$343B for EV-to-equity bridge.

◆ Financial Snapshot

Growth

Revenue CAGR9.4% CAGR
Earnings CAGR4.2% CAGR
Growth ConsistencyCV: 2.55
Segment Breadth8/11 growing (73%)
Quarterly TrendMargin↓↓, Cash↓
Earnings CredibilityTends to Beat

◆ Revenue Breakdown — FY2025

By Segment

Commercial And Investment Bank43.0%
Consumer & Community Banking41.7%
Asset and Wealth Management Segment13.2%
Segment Reporting, Reconciling Item, Corporate Nonsegment3.9%
Segment Reconciling Items-1.7%

By Geography

North America76.6%
EMEA13.4%
Asia Pacific7.7%
Latin America2.3%
Total Revenue
$182.4B
Fiscal Year 2025

◆ Analyst Consensus & Leadership

Analyst Price Targets

Avg Target (Last Quarter)$324.10
Analysts Covering (Quarter)10
Avg Target (Last Year)$309.84
Analysts (Year)25

Leadership & Governance

CEOJamie Dimon · 20 years
CEO Ownership< 1%
Compensation96% performance-based
Insider ActivitySelling
Earnings Beat Rate76% (16/22)

◆ Company Profile

JPMorgan Chase & Co. operates as a financial services company worldwide.

CEO
James Dimon
Employees
318477
Headquarters
New York City, NY, US
IPO Date
March 17, 1980
Exchange
NYSE

◆ Related Companies in Our Universe

Other Financial Services companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+
MethodologyAll ScoresCrucible BriefsPerformance@KaladinCI

Analysis conducted March 7, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.

© 2026 Kaladin Capital Intelligence — Conviction Through Scrutiny