Comprehensive Stock Comparison
Compare Oppenheimer Holdings Inc. (OPY) vs JPMorgan Chase & Co. (JPM) 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 | OPY | 14.7% revenue growth vs JPM's 14.6% |
| Value | JPM | Lower P/E (13.9x vs 104.0x), PEG 1.07 vs 9.65 |
| Quality / Margins | JPM | 21.6% net margin vs OPY's 5.0% |
| Stability / Safety | OPY | Beta 0.97 vs JPM's 1.00, lower leverage |
| Dividends | JPM | 1.7% yield, 14-year raise streak, vs OPY's 0.7% |
| Momentum (1Y) | OPY | +33.3% vs JPM's +15.7% |
| Efficiency (ROA) | OPY | 2.2% ROA vs JPM's 1.3%, ROIC 15.7% vs 5.4% |
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
Oppenheimer Holdings is a middle-market investment bank and full-service broker-dealer serving institutional and retail clients. It generates revenue primarily through brokerage commissions and fees (roughly 60%), investment banking advisory services (about 25%), and asset management fees (around 15%). The firm's competitive advantage lies in its deep middle-market expertise and long-standing client relationships in specialized sectors.
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.
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
OPY leads in 4 of 6 categories (Valuation Metrics, Profitability & Efficiency). JPM leads in 2 (Financial Metrics, Analyst Outlook).
Financial Metrics (TTM)
JPM is the larger business by revenue, generating $270.8B annually — 189.0x OPY's $1.4B. JPM is the more profitable business, keeping 21.6% of every revenue dollar as net income compared to OPY's 5.0%.
| Metric | OPYOppenheimer Holdi… | JPMJPMorgan Chase & … |
|---|---|---|
| RevenueTrailing 12 months | $1.4B | $270.8B |
| EBITDAEarnings before interest/tax | $369M | $81.3B |
| Net IncomeAfter-tax profit | $85M | $58.0B |
| Free Cash FlowCash after capex | $47M | -$119.7B |
| Gross MarginGross profit ÷ Revenue | +32.7% | +58.6% |
| Operating MarginEBIT ÷ Revenue | +21.3% | +27.7% |
| Net MarginNet income ÷ Revenue | +5.0% | +21.6% |
| FCF MarginFCF ÷ Revenue | -7.9% | -15.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | — | — |
| EPS Growth (YoY)Latest quarter vs prior year | -12.4% | +16.0% |
Valuation Metrics
At 13.5x trailing earnings, OPY trades at a 11% valuation discount to JPM's 15.2x P/E. Adjusting for growth (PEG ratio), JPM offers better value at 1.17x vs OPY's 1.26x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | OPYOppenheimer Holdi… | JPMJPMorgan Chase & … |
|---|---|---|
| Market CapShares × price | $899M | $809.7B |
| Enterprise ValueMkt cap + debt − cash | $1.6B | $1.09T |
| Trailing P/EPrice ÷ TTM EPS | 13.55x | 15.21x |
| Forward P/EPrice ÷ next-FY EPS est. | 103.96x | 13.93x |
| PEG RatioP/E ÷ EPS growth rate | 1.26x | 1.17x |
| EV / EBITDAEnterprise value multiple | 4.54x | 13.15x |
| Price / SalesMarket cap ÷ Revenue | 0.63x | 2.99x |
| Price / BookPrice ÷ Book value/share | 1.14x | 2.51x |
| Price / FCFMarket cap ÷ FCF | — | — |
Profitability & Efficiency
JPM delivers a 16.1% return on equity — every $100 of shareholder capital generates $16 in annual profit, vs $9 for OPY. OPY carries lower financial leverage with a 0.81x debt-to-equity ratio, signaling a more conservative balance sheet compared to JPM's 2.18x.
| Metric | OPYOppenheimer Holdi… | JPMJPMorgan Chase & … |
|---|---|---|
| ROE (TTM)Return on equity | +9.2% | +16.1% |
| ROA (TTM)Return on assets | +2.2% | +1.3% |
| ROICReturn on invested capital | +15.7% | +5.4% |
| ROCEReturn on capital employed | +11.5% | +8.2% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 5 |
| Debt / EquityFinancial leverage | 0.81x | 2.18x |
| Net DebtTotal debt minus cash | $654M | $281.8B |
| Cash & Equiv.Liquid assets | $33M | $469.3B |
| Total DebtShort + long-term debt | $688M | $751.1B |
| Interest CoverageEBIT ÷ Interest expense | 2.39x | 0.74x |
Total Returns (with DRIP)
A $10,000 investment in OPY five years ago would be worth $22,737 today (with dividends reinvested), compared to $21,449 for JPM. Over the past 12 months, OPY leads with a +33.3% total return vs JPM's +15.7%. The 3-year compound annual growth rate (CAGR) favors JPM at 30.0% vs OPY's 26.5% — a key indicator of consistent wealth creation.
| Metric | OPYOppenheimer Holdi… | JPMJPMorgan Chase & … |
|---|---|---|
| YTD ReturnYear-to-date | +19.0% | -7.3% |
| 1-Year ReturnPast 12 months | +33.3% | +15.7% |
| 3-Year ReturnCumulative with dividends | +102.5% | +119.7% |
| 5-Year ReturnCumulative with dividends | +127.4% | +114.5% |
| 10-Year ReturnCumulative with dividends | +569.1% | +497.7% |
| CAGR (3Y)Annualised 3-year return | +26.5% | +30.0% |
Risk & Volatility
OPY is the less volatile stock with a 0.97 beta — it tends to amplify market swings less than JPM's 1.00 beta. A beta below 1.0 means the stock typically moves less than the S&P 500.
| Metric | OPYOppenheimer Holdi… | JPMJPMorgan Chase & … |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.97x | 1.00x |
| 52-Week HighHighest price in past year | $94.10 | $337.25 |
| 52-Week LowLowest price in past year | $49.26 | $202.16 |
| % of 52W HighCurrent price vs 52-week peak | +91.7% | +89.0% |
| RSI (14)Momentum oscillator 0–100 | 63.3 | 48.1 |
| Avg Volume (50D)Average daily shares traded | 40K | 9.0M |
Analyst Outlook
Wall Street rates OPY as "Buy" and JPM as "Buy". Consensus price targets imply 131.8% upside for OPY (target: $200) vs 11.9% for JPM (target: $336). For income investors, JPM offers the higher dividend yield at 1.71% vs OPY's 0.71%.
| Metric | OPYOppenheimer Holdi… | JPMJPMorgan Chase & … |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $200.00 | $336.10 |
| # AnalystsCovering analysts | 2 | 60 |
| Dividend YieldAnnual dividend ÷ price | +0.7% | +1.7% |
| Dividend StreakConsecutive years of raises | 1 | 14 |
| Dividend / ShareAnnual DPS | $0.61 | $5.13 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.1% | +3.5% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Mar 20 | Feb 26 | Change |
|---|---|---|---|
| Oppenheimer Holding… (OPY) | 100 | 362.81 | +262.8% |
| JPMorgan Chase & Co. (JPM) | 100 | 253.57 | +153.6% |
Oppenheimer Holding… (OPY) returned +127% over 5 years vs JPMorgan Chase & Co. (JPM)'s +114%. A $10,000 investment in OPY 5 years ago would be worth $22,737 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Oppenheimer Holding… (OPY) | $898M | $1.4B | +59.6% |
| JPMorgan Chase & Co. (JPM) | $101.0B | $270.8B | +168.1% |
Oppenheimer Holdings Inc.'s revenue grew from $898M (2015) to $1.4B (2024) — a 5.3% CAGR. JPMorgan Chase & Co.'s revenue grew from $101.0B (2015) to $270.8B (2024) — a 11.6% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Oppenheimer Holding… (OPY) | 0.2% | 5.0% | +2186.2% |
| JPMorgan Chase & Co. (JPM) | 24.2% | 21.6% | -10.8% |
Oppenheimer Holdings Inc.'s net margin went from 0% (2015) to 5% (2024). JPMorgan Chase & Co.'s net margin went from 24% (2015) to 22% (2024).
Chart 4P/E Ratio History — 8 Years
| Stock | 2017 | 2024 | Change |
|---|---|---|---|
| Oppenheimer Holding… (OPY) | 16 | 10.1 | -36.9% |
| JPMorgan Chase & Co. (JPM) | 16.9 | 12.1 | -28.4% |
Oppenheimer Holdings Inc. has traded in a 3x–17x P/E range over 8 years; current trailing P/E is ~14x. JPMorgan Chase & Co. has traded in a 10x–17x P/E range over 8 years; current trailing P/E is ~15x.
Chart 5EPS Growth — 10 Years
| Stock | 2015 | 2024 | Change |
|---|---|---|---|
| Oppenheimer Holding… (OPY) | 0.14 | 6.37 | +4450.0% |
| JPMorgan Chase & Co. (JPM) | 6 | 19.75 | +229.2% |
Oppenheimer Holdings Inc.'s EPS grew from $0.14 (2015) to $6.37 (2024) — a 53% CAGR. JPMorgan Chase & Co.'s EPS grew from $6.00 (2015) to $19.75 (2024) — a 14% CAGR.
Chart 6Free Cash Flow — 5 Years
Oppenheimer Holdings Inc. generated $-113M FCF in 2024 (-152% vs 2021). JPMorgan Chase & Co. generated $-42B FCF in 2024 (-154% vs 2021).
OPY vs JPM: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is OPY or JPM a better buy right now?
Oppenheimer Holdings Inc. (OPY) offers the better valuation at 13.5x trailing P/E (104.0x forward), making it the more compelling value choice. Analysts rate Oppenheimer Holdings Inc. (OPY) a "Buy" — based on 2 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 — OPY or JPM?
On trailing P/E, Oppenheimer Holdings Inc. (OPY) is the cheapest at 13.5x versus JPMorgan Chase & Co. at 15.2x. On forward P/E, JPMorgan Chase & Co. is actually cheaper at 13.9x — notably different from the trailing picture, reflecting expected earnings growth. 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 Oppenheimer Holdings Inc.'s 9.65x — a reasonable growth-adjusted valuation.
03Which is the better long-term investment — OPY or JPM?
Over the past 5 years, Oppenheimer Holdings Inc. (OPY) delivered a total return of +127.4%, compared to +114.5% for JPMorgan Chase & Co. (JPM). A $10,000 investment in OPY five years ago would be worth approximately $23K today (assuming dividends reinvested). Over 10 years, the gap is even starker: OPY returned +569.1% versus JPM's +497.7%. 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 — OPY or JPM?
By beta (market sensitivity over 5 years), Oppenheimer Holdings Inc. (OPY) is the lower-risk stock at 0.97β versus JPMorgan Chase & Co.'s 1.00β — meaning JPM is approximately 3% more volatile than OPY relative to the S&P 500. On balance sheet safety, Oppenheimer Holdings Inc. (OPY) carries a lower debt/equity ratio of 81% versus 2% for JPMorgan Chase & Co. — giving it more financial flexibility in a downturn.
05Which has better profit margins — OPY or JPM?
JPMorgan Chase & Co. (JPM) is the more profitable company, earning 21.6% net margin versus 5.0% for Oppenheimer Holdings Inc. — 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 21.3% for OPY. At the gross margin level — before operating expenses — JPM leads at 58.6%, 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 OPY or JPM 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 Oppenheimer Holdings Inc.'s 9.65x. A PEG below 1.5 suggests fair-to-attractive pricing relative to expected growth. On forward earnings alone, JPMorgan Chase & Co. (JPM) trades at 13.9x forward P/E versus 104.0x for Oppenheimer Holdings Inc. — 90.0x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for OPY: 131.8% to $200.00.
07Which pays a better dividend — OPY or JPM?
All stocks in this comparison pay dividends. JPMorgan Chase & Co. (JPM) offers the highest yield at 1.7%, versus 0.7% for Oppenheimer Holdings Inc. (OPY).
08Is OPY or JPM better for a retirement portfolio?
For long-horizon retirement investors, Oppenheimer Holdings Inc. (OPY) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.97), 0.7% yield, +569.1% 10Y return). Both have compounded well over 10 years (OPY: +569.1%, JPM: +497.7%), 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 OPY and JPM?
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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