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STOCK COMPARISON

JPMorgan Chase & vs National Bank of Canada: Fair Value & Quality

Both stocks run through our valuation models. Here is how JPMorgan Chase & (JPM) and National Bank of Canada (NA) compare, as of Sep 22, 2026.

As of Sep 22, 2026, Fair Value Calculator sees JPMorgan Chase & as the less overvalued of the two: JPMorgan Chase & trades at $350 versus a fair value of $192 (-45%), while National Bank of Canada trades at C$213 versus C$102 (-52%).
JPMorgan Chase &
JPM · USD · Financials
-45%
upside to fair value
overvalued
Price$350
Fair Value$192
Quality65/100
National Bank of Canada
NA.TO · CAD · Financials
-52%
upside to fair value
overvalued
PriceC$213
Fair ValueC$102
Quality39/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

JPMorgan Chase &National Bank of Canada
Valuation
17.5×P/E (TTM)20.8×
4.87×P/S (TTM)4.67×
2.50×P/B1.94×
12.3×EV/EBITDA14.0×
1.77×PEG1.44×
−45.0%Fair value upside−52.0%
1.6%Dividend yield2.3%
$5.90Dividend per shareC$5.12
Profitability
50%Operating margin44%
0.94×EBIT margin trend (5Y)0.60×
18%Return on equity14%
1%Return on assets1%
Growth
30%Revenue growth (YoY)18%
22.1%Avg. growth/yr (3Y)47.4%
16.6%Avg. growth/yr (5Y)22.6%
+14.2%Value creation/yr+11.8%
Balance & size
0.7×Interest coverage (EBIT/interest)0.3×
1.20×Debt / equity1.29×
$907BMarket cap$66B
healthyGrowth qualityhealthy

JPMorgan Chase & leads: 8 to 6 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

JPMorgan Chase &of which business quality 61 · market factors 67 National Bank of Canadaof which business quality 36 · market factors 71
ProfitabilityMargins and returns on capital today
35
27
Quality GrowthAre margins and returns improving?
44
43
CashflowEarnings quality: real cash, not paper profit
96
63
Fin. StrengthBalance sheet, leverage, solvency risk
26
16
InvestmentDisciplined investing over empire-building
77
53
Low VolatilityCalm price path (market factor)
74
69
MomentumPrice trend over the last 3–12 months (market factor)
59
66
52W MomentumDistance to the 52-week high (market factor)
74
81
Net IssuanceShare count: buybacks or dilution?
100
21

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyJPMorgan Chase &Price $350National Bank of CanadaPrice C$213
Dividend Discount-66%below the price$119n/a
Multiples-33%below the price$235-39%below the priceC$129
Asset-Based-74%below the price$91.35-72%below the priceC$58.75
Economic Profit-44%below the price$195-55%below the priceC$95.73
Minimum-74%below the price$91.35-72%below the priceC$58.75
Maximum-33%below the price$235-39%below the priceC$129
Median-55%below the price$157-55%below the priceC$95.73
Geometric mean-57%below the price$150-58%below the priceC$89.90

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

JPMorgan Chase &: 6 of 6 models see the stock below the current price.

National Bank of Canada: 4 of 4 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

JPMorgan Chase &
Price $350
Fair Value $192
Bear $146Bull $272
National Bank of Canada
Price C$213
Fair Value C$102
Bear C$76.73Bull C$128

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

JPMorgan Chase & · Financials

Quality score65 · Top 25%
Fair value upside-45% · bottom 25%

National Bank of Canada · Financials

Quality score39 · bottom 25%
Fair value upside-52% · bottom 25%

Bottom line

As of Sep 22, 2026, Fair Value Calculator sees JPMorgan Chase & as the less overvalued of the two: JPMorgan Chase & trades at $350 versus a fair value of $192 (-45%), while National Bank of Canada trades at C$213 versus C$102 (-52%).

JPMorgan Chase & has the higher quality score (65/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.