Comprehensive Stock Comparison
Compare JPMorgan Chase & Co. (JPM) vs Wells Fargo & Company (WFC) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | JPM | 14.6% revenue growth vs WFC's 8.7% |
| Value | JPM | PEG 1.07 vs 2.07 |
| Quality / Margins | JPM | 21.6% net margin vs WFC's 15.7% |
| Stability / Safety | JPM | Beta 1.00 vs WFC's 1.04 |
| Dividends | JPM | 1.7% yield, 14-year raise streak, vs WFC's 1.8% |
| Momentum (1Y) | JPM | +15.7% vs WFC's +6.2% |
| Efficiency (ROA) | JPM | 1.3% ROA vs WFC's 1.0%, ROIC 5.4% vs 3.7% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Valuation efficiency (growth/$)
Defensive / Recession hedge
Business Model
What each company does and how it makes money
JPMorgan Chase is a global financial services giant that operates as a universal bank offering consumer banking, investment banking, commercial banking, and asset management services. It generates revenue primarily through net interest income from lending activities (about 50% of total revenue) and non-interest income from investment banking fees, trading, asset management, and card services. The company's key competitive advantage lies in its massive scale, diversified revenue streams, and fortress balance sheet—which together create significant barriers to entry and provide stability through economic cycles.
Wells Fargo is one of America's largest diversified financial services companies operating primarily through its extensive branch network. It generates revenue from interest income on loans (roughly 60% of total revenue) and non-interest income from fees for banking services, wealth management, and investment banking. Its key competitive advantage is its massive retail banking footprint—with thousands of branches serving millions of customers—which creates a stable deposit base and cross-selling opportunities.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
JPM leads in 3 of 6 categories (Profitability & Efficiency, Total Returns). WFC leads in 2 (Financial Metrics, Valuation Metrics). 1 tied.
Financial Metrics (TTM)
JPM is the larger business by revenue, generating $270.8B annually — 2.2x WFC's $125.4B. JPM is the more profitable business, keeping 21.6% of every revenue dollar as net income compared to WFC's 15.7%.
| Metric | JPMJPMorgan Chase & … | WFCWells Fargo & Com… |
|---|---|---|
| RevenueTrailing 12 months | $270.8B | $125.4B |
| EBITDAEarnings before interest/tax | $81.3B | $31.6B |
| Net IncomeAfter-tax profit | $58.0B | $21.1B |
| Free Cash FlowCash after capex | -$119.7B | -$14.2B |
| Gross MarginGross profit ÷ Revenue | +58.6% | +62.2% |
| Operating MarginEBIT ÷ Revenue | +27.7% | +18.6% |
| Net MarginNet income ÷ Revenue | +21.6% | +15.7% |
| FCF MarginFCF ÷ Revenue | -15.5% | +2.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | +16.0% | +16.9% |
Valuation Metrics
At 15.2x trailing earnings, WFC trades at a 0% valuation discount to JPM's 15.2x P/E. Adjusting for growth (PEG ratio), JPM offers better value at 1.17x vs WFC's 2.71x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | JPMJPMorgan Chase & … | WFCWells Fargo & Com… |
|---|---|---|
| Market CapShares × price | $809.7B | $251.8B |
| Enterprise ValueMkt cap + debt − cash | $1.09T | $330.4B |
| Trailing P/EPrice ÷ TTM EPS | 15.21x | 15.16x |
| Forward P/EPrice ÷ next-FY EPS est. | 13.93x | 11.58x |
| PEG RatioP/E ÷ EPS growth rate | 1.17x | 2.71x |
| EV / EBITDAEnterprise value multiple | 13.15x | 10.68x |
| Price / SalesMarket cap ÷ Revenue | 2.99x | 2.01x |
| Price / BookPrice ÷ Book value/share | 2.51x | 1.56x |
| Price / FCFMarket cap ÷ FCF | — | 82.98x |
Profitability & Efficiency
JPM delivers a 16.1% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $12 for WFC. WFC carries lower financial leverage with a 1.56x debt-to-equity ratio, signaling a more conservative balance sheet compared to JPM's 2.18x. On the Piotroski fundamental quality scale (0–9), WFC scores 6/9 vs JPM's 5/9, reflecting solid financial health.
| Metric | JPMJPMorgan Chase & … | WFCWells Fargo & Com… |
|---|---|---|
| ROE (TTM)Return on equity | +16.1% | +11.5% |
| ROA (TTM)Return on assets | +1.3% | +1.0% |
| ROICReturn on invested capital | +5.4% | +3.7% |
| ROCEReturn on capital employed | +8.2% | +5.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 |
| Debt / EquityFinancial leverage | 2.18x | 1.56x |
| Net DebtTotal debt minus cash | $281.8B | $78.5B |
| Cash & Equiv.Liquid assets | $469.3B | $203.4B |
| Total DebtShort + long-term debt | $751.1B | $281.9B |
| Interest CoverageEBIT ÷ Interest expense | 0.74x | 0.60x |
Total Returns (with DRIP)
A $10,000 investment in WFC five years ago would be worth $23,722 today (with dividends reinvested), compared to $21,449 for JPM. Over the past 12 months, JPM leads with a +15.7% total return vs WFC's +6.2%. The 3-year compound annual growth rate (CAGR) favors JPM at 30.0% vs WFC's 22.6% — a key indicator of consistent wealth creation.
| Metric | JPMJPMorgan Chase & … | WFCWells Fargo & Com… |
|---|---|---|
| YTD ReturnYear-to-date | -7.3% | -14.0% |
| 1-Year ReturnPast 12 months | +15.7% | +6.2% |
| 3-Year ReturnCumulative with dividends | +119.7% | +84.1% |
| 5-Year ReturnCumulative with dividends | +114.5% | +137.2% |
| 10-Year ReturnCumulative with dividends | +497.7% | +103.6% |
| CAGR (3Y)Annualised 3-year return | +30.0% | +22.6% |
Risk & Volatility
JPM is the less volatile stock with a 1.00 beta — it tends to amplify market swings less than WFC's 1.04 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. JPM currently trades 89.0% from its 52-week high vs WFC's 83.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | JPMJPMorgan Chase & … | WFCWells Fargo & Com… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.00x | 1.04x |
| 52-Week HighHighest price in past year | $337.25 | $97.76 |
| 52-Week LowLowest price in past year | $202.16 | $58.42 |
| % of 52W HighCurrent price vs 52-week peak | +89.0% | +83.3% |
| RSI (14)Momentum oscillator 0–100 | 48.1 | 42.7 |
| Avg Volume (50D)Average daily shares traded | 9.0M | 12.4M |
Analyst Outlook
Wall Street rates JPM as "Buy" and WFC as "Hold". Consensus price targets imply 22.8% upside for WFC (target: $100) vs 11.9% for JPM (target: $336). For income investors, WFC offers the higher dividend yield at 1.82% vs JPM's 1.71%.
| Metric | JPMJPMorgan Chase & … | WFCWells Fargo & Com… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold |
| Price TargetConsensus 12-month target | $336.10 | $100.00 |
| # AnalystsCovering analysts | 60 | 59 |
| Dividend YieldAnnual dividend ÷ price | +1.7% | +1.8% |
| Dividend StreakConsecutive years of raises | 14 | 3 |
| Dividend / ShareAnnual DPS | $5.13 | $1.48 |
| Buyback YieldShare repurchases ÷ mkt cap | +3.5% | +8.8% |
Historical Charts
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Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| JPMorgan Chase & Co. (JPM) | 100 | 253.57 | +153.6% |
| Wells Fargo & Compa… (WFC) | 100 | 218.34 | +118.3% |
Wells Fargo & Compa… (WFC) returned +137% over 5 years vs JPMorgan Chase & Co. (JPM)'s +114%. A $10,000 investment in WFC 5 years ago would be worth $23,722 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| JPMorgan Chase & Co. (JPM) | $101.0B | $270.8B | +168.1% |
| Wells Fargo & Compa… (WFC) | $87.8B | $125.4B | +42.8% |
JPMorgan Chase & Co.'s revenue grew from $101.0B (2015) to $270.8B (2024) — a 11.6% CAGR. Wells Fargo & Company's revenue grew from $87.8B (2015) to $125.4B (2024) — a 4.0% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| JPMorgan Chase & Co. (JPM) | 24.2% | 21.6% | -10.8% |
| Wells Fargo & Compa… (WFC) | 26.1% | 15.7% | -39.7% |
JPMorgan Chase & Co.'s net margin went from 24% (2015) to 22% (2024). Wells Fargo & Company's net margin went from 26% (2015) to 16% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| JPMorgan Chase & Co. (JPM) | 16.9 | 12.1 | -28.4% |
| Wells Fargo & Compa… (WFC) | 14.8 | 13.1 | -11.5% |
JPMorgan Chase & Co. has traded in a 10x–17x P/E range over 8 years; current trailing P/E is ~15x. Wells Fargo & Company has traded in a 10x–74x P/E range over 8 years; current trailing P/E is ~15x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| JPMorgan Chase & Co. (JPM) | 6 | 19.75 | +229.2% |
| Wells Fargo & Compa… (WFC) | 4.12 | 5.37 | +30.3% |
JPMorgan Chase & Co.'s EPS grew from $6.00 (2015) to $19.75 (2024) — a 14% CAGR. Wells Fargo & Company's EPS grew from $4.12 (2015) to $5.37 (2024) — a 3% CAGR.
Chart 6Free Cash Flow — 5 Years
JPMorgan Chase & Co. generated $-42B FCF in 2024 (-154% vs 2021). Wells Fargo & Company generated $3B FCF in 2024 (+126% vs 2021).
JPM vs WFC: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is JPM or WFC a better buy right now?
Wells Fargo & Company (WFC) offers the better valuation at 15.2x trailing P/E (11.6x forward), making it the more compelling value choice. Analysts rate JPMorgan Chase & Co. (JPM) a "Buy" — based on 60 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — JPM or WFC?
On trailing P/E, Wells Fargo & Company (WFC) is the cheapest at 15.2x versus JPMorgan Chase & Co. at 15.2x. On forward P/E, Wells Fargo & Company is actually cheaper at 11.6x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: JPMorgan Chase & Co. wins at 1.07x versus Wells Fargo & Company's 2.07x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — JPM or WFC?
Over the past 5 years, Wells Fargo & Company (WFC) delivered a total return of +137.2%, compared to +114.5% for JPMorgan Chase & Co. (JPM). A $10,000 investment in WFC five years ago would be worth approximately $24K today (assuming dividends reinvested). Over 10 years, the gap is even starker: JPM returned +497.7% versus WFC's +103.6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — JPM or WFC?
By beta (market sensitivity over 5 years), JPMorgan Chase & Co. (JPM) is the lower-risk stock at 1.00β versus Wells Fargo & Company's 1.04β — meaning WFC is approximately 3% more volatile than JPM relative to the S&P 500. On balance sheet safety, Wells Fargo & Company (WFC) carries a lower debt/equity ratio of 156% versus 2% for JPMorgan Chase & Co. — giving it more financial flexibility in a downturn.
05Which has better profit margins — JPM or WFC?
JPMorgan Chase & Co. (JPM) is the more profitable company, earning 21.6% net margin versus 15.7% for Wells Fargo & Company — meaning it keeps 21.6% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: JPM leads at 27.7% versus 18.6% for WFC. At the gross margin level — before operating expenses — WFC leads at 62.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is JPM or WFC more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential. By this metric, JPMorgan Chase & Co. (JPM) is the more undervalued stock at a PEG of 1.07x versus Wells Fargo & Company's 2.07x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, Wells Fargo & Company (WFC) trades at 11.6x forward P/E versus 13.9x for JPMorgan Chase & Co. — 2.4x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for WFC: 22.8% to $100.00.
07Which pays a better dividend — JPM or WFC?
All stocks in this comparison pay dividends. Wells Fargo & Company (WFC) offers the highest yield at 1.8%, versus 1.7% for JPMorgan Chase & Co. (JPM).
08Is JPM or WFC better for a retirement portfolio?
For long-horizon retirement investors, JPMorgan Chase & Co. (JPM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.00), 1.7% yield, +497.7% 10Y return). Both have compounded well over 10 years (JPM: +497.7%, WFC: +103.6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between JPM and WFC?
Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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