Analyses / JPM vs GS
JPM vs GS
A head-to-head on JPMorgan Chase & Co and Goldman Sachs Group Inc — valuation, the setup, and the case for each. Tap either ticker for the full trade brief.
Side by Side
| JPM | GS | |
|---|---|---|
| Company | JPMorgan Chase & Co | Goldman Sachs Group Inc |
| Price | $334.47 | $1,021.00 |
| Today | — | — |
| Valuation | fair | Fair to Slightly Undervalued |
| Valuation score | 70/100 | 68/100 |
| Setup | value-with-growth | Value / Income |
| Confidence | 68 | 62 |
| Category | large-cap | Large Cap |
The Case for Each
JPM
Bull: P/E 15.1x vs historical 15–17x range, forward P/E 15.6x — fair to slight discount. 17% EPS growth, strong net margin 29.3%, 1.8% yield + capital returns. Q2 earnings season catalysts. Beta ~1.0 = market-correlated. Banking-sector tailwind if rates stable.
Bear: P/B 2.42x elevated for a bank; reversion risk if interest-rate outlook darkens. Price-to-FCF 68.8x stretched; reliance on non-deposit funding if credit cycle turns. Insider selling (111 sells vs 87 buys) suggests caution near highs. Macro slowdown or recession could crush net interest margin.
GS
Bull: GS trades at 16.9x trailing P/E vs 19.8% EPS growth — a modest discount to quality. Forward P/E 17.8x. 5-year revenue CAGR 17.3%, operating margin 17.5% stable. Dividend yield 1.76% with 31% payout ratio leaves room for buybacks. Capital position strong. Sector momentum positive (Financial stocks advancing). Beta 1.31 offers tactical leverage if equities rally.
Bear: Current ratio 0.315 reflects capital-light banking model but signals tight liquidity. P/B 2.11x near historical norm — no margin of safety. EV/EBITDA 64x is elevated and distorts valuation signal. Insider selling 187 transactions vs 42 buys (4.6:1 ratio) is a caution flag — smart money may be trimming. Price already +48% from 52-week low; extended. Leverage embedded in financial services model; macro slowdown or credit stress could compress multiples.
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