Stock fact sheet · data as of
JPMorgan Chase & Co. (JPM): fair value, margin of safety and Wheel Score
Financial Services · Banks - Diversified · United States · Value
Is JPM undervalued?
JPMorgan Chase & Co. (JPM) closed at 335.53 on 16 Oct 2026. The GLS average fair value - the simple average of the 7 valuation models that produced a positive number - is 377.62, so the price sits 11% below it. 3 of the 7 models value the shares above the current price. A margin of safety between 10% and 30% is where most of the Sunday Scan candidates come from.
There is a wide gap between DDM (90.49) and GLS Growth (715.63). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
The nightly engine files JPM under Value: positive earnings at a P/E of 18 or less.
Nine valuation models for JPM
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 690.99 | +106% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 277.57 | -17% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 462.91 | +38% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 132.03 | -61% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 715.63 | +113% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | 90.49 | -73% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 273.69 | -18% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -821.96 | -345% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 373.36 | +11% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
JPMorgan Chase & Co. scores 5 of 9 on the Piotroski F-score: a middling result that falls one point short of the Sunday Scan's "6 or more" rule. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability JPM scores 6.2/10 on the GLS Moat - a middle reading; the Scorecard on the Quote page's Financials tab shows which ten-year lines are steady and which are not.
Returns on capital are thin or negative - ROIC 4.4%, ROE 15.7%, ROA 1.3% - with debt at 2.60 times equity and negative free cash flow. Debt of 2.60 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
The dividend yield is 1.83% at a payout ratio of 26%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Consumer & Community Banking 42%, Commercial And Investment Bank 41%, Asset and Wealth Management 14% (quarter Q4 FY2025).
Institutional ownership scores 9/10, insider activity 1/10 and Congressional trading 2/10 on the GLS smart-money scales.
| Piotroski F-score | 5 / 9 | ROIC | 4.4% |
|---|---|---|---|
| GLS Moat | 6.2 / 10 | ROE | 15.7% |
| Debt / equity | 2.60 | ROA | 1.3% |
| Free-cash-flow yield | -18.2% | Payout ratio | 26% |
| Institutions | 9 / 10 | Insiders · Congress | 1 · 2 / 10 |
Wheel Score 67: Good
With a Wheel Score of 67 - the Good band - JPMorgan Chase & Co. falls just short of the Sunday Scan's "70 or higher" rule. The parts: Value 17/25, Health 11/20, Moat 9/15, Premium 9/20, Stability 20/20; Premium (9/20) scores lowest.
Implied volatility is 24% on the near-the-money contracts 20-60 days out: some premium, but under the 35-60% range the Wheel Score pays full marks for (9 of 20 points). The option chain is deep: 325,374 contracts of open interest across all expiries, which means tight fills at most strikes.
Volume runs at 8.7M shares a day on a market cap of $891.9B, with a beta of 1.01; the Stability part of the Wheel Score gives that 20 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 17 / 25 | 11% margin of safety | |
| Health | 11 / 20 | Piotroski 5/9 | |
| Moat | 9 / 15 | moat 6.2/10 | |
| Premium | 9 / 20 | implied volatility 24% | |
| Stability | 20 / 20 | 8.7M shares/day, $891.9B cap, beta 1.01 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 14 Jan 2027, 90 days away - outside the window of a 30-45-day put sold today.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Diversified
The 12 companies below are the closest to JPMorgan Chase & Co. by market cap within the Banks - Diversified industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| BAC Bank of America Corporation | 51.70 | 156.82 | +67% | 82Prime | $361.5B |
| BACRP Bank of America Corporation PFD SER B 7% | 300.00 | 483.13 | +38% | 39No options | $361.5B |
| HSBC HSBC Holdings plc | 94.54 | 140.80 | +33% | 81Prime | $327.3B |
| RY Royal Bank of Canada | 193.82 | 375.59 | +48% | 76Good | $269.4B |
| MUFG Mitsubishi UFJ Financial Group, Inc. | 21.86 | 703.78 | +97% | 94Prime | $250.5B |
| WFC Wells Fargo & Company | 80.91 | 139.23 | +42% | 77Good | $244.7B |
| C Citigroup Inc. | 123.19 | 162.45 | +24% | 71Good | $206.6B |
| TD The Toronto-Dominion Bank | 117.63 | 158.47 | +26% | 75Good | $198.7B |
| SAN Banco Santander, S.A. | 13.41 | 37.09 | +64% | 80Prime | $196.9B |
| UBS UBS Group AG | 47.15 | 75.19 | +37% | 85Prime | $144.4B |
| BBVA Banco Bilbao Vizcaya Argentaria, S.A. | 25.95 | 91.89 | +72% | 82Prime | $144.3B |
| BMO Bank of Montreal | 166.05 | 311.77 | +47% | 74Good | $115.4B |
⚖ Compare JPM with 7 of them All Financial Services stocks →
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A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about JPM
Is JPM undervalued right now?
By the GLS models, moderately: at 335.53 the stock trades 11% below the average fair value of 377.62 (data as of 16 Oct 2026).
What is the Wheel Score of JPM and what does it mean?
JPM scores 67 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for JPM?
377.62 per share as of 16 Oct 2026 - the simple average of the 7 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does JPMorgan Chase & Co. report earnings next?
The next earnings report is due on 14 Jan 2027, 90 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does JPM have listed options, and how liquid are they?
Yes. The nightly snapshot found 1,000 listed contracts with 325,374 open interest across all expiries and implied volatility of 24% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.