JPM vs GS: JPMorgan vs Goldman Sachs — Which Bank Stock Is Better?: AI Score, Valuation, Performance and Upside
JPMorgan is the best-in-class diversified US megabank with consistent through-cycle returns, while Goldman Sachs is the elite investment banking and trading franchise that has refocused on institutional strengths after retreating from consumer banking. JPM typically trades at a higher multiple for its consistency; GS offers more earnings leverage to investment banking and markets cycles.
Use this JPM vs GS comparison to choose between diversified megabank stability and focused investment banking cyclicality. JPM is the higher-quality, lower-volatility option; GS offers more earnings leverage when capital markets are active and may offer more upside in bull cycles.
JPM holds the edge across 4 of 5 key metrics in this comparison. GS has delivered stronger 1-year price return (+48.96% vs +16.34%), though JPM has the better forward P/E setup (13.89x vs 14.73x for GS). On fundamentals, GS is growing revenue faster (42.50%), while JPM maintains the higher operating margin (50.39%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for JPM (+7.76%) than for GS (+4.47%).
- →Want the highest-quality, most diversified US megabank with consistent earnings
- →Value a growing dividend and a strong capital return program
- →Prefer lower earnings volatility with exposure across consumer, commercial, and investment banking
- →Believe Jamie Dimon's conservative capital allocation creates long-term compounding value
- →Want concentrated exposure to elite investment banking and trading when markets are active
- →Believe the refocused strategy post-Marcus exit will improve returns on equity
- →See a valuation opportunity if capital markets activity accelerates (M&A, IPOs)
- →Are comfortable with higher earnings volatility in exchange for potential upside in active market cycles
| Metric | JPM | GS |
|---|---|---|
| AI score | 62.2 | 61.1 |
| AI rank | #99 | #182 |
| Latest close | $338.87 | $1,055.03 |
| 1M return | +4.20% | -3.79% |
| 6M return | +8.45% | +9.67% |
| 1Y return | +16.34% | +48.96% |
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | JPM | GS |
|---|---|---|
| 1Y ago | $11.65K (+16.5%) started 2025-07-21 | $14.94K (+49.4%) started 2025-07-21 |
| 5Y ago | $27.3K (+173.0%) started 2021-07-21 | $34.39K (+243.9%) started 2021-07-21 |
| 10Y ago | $88.44K (+784.4%) started 2016-07-21 | $96.25K (+862.5%) started 2016-07-21 |
Hypothetical — past performance does not guarantee future results.
| Metric | JPM | GS |
|---|---|---|
| Market cap | $906.71B | $314.25B |
| Trailing P/E | 14.62 | 16.45 |
| Forward P/E | 13.89 | 14.73 |
| Price/Sales | 4.38 | 3.55 |
| EV/Revenue | 2.38 | 2.26 |
| Analyst target | $367.57 | $1,112.85 |
| Target upside | +7.76% | +4.47% |
| Metric | JPM | GS |
|---|---|---|
| Revenue growth | 30.40% | 42.50% |
| Earnings growth | 46.90% | 92.30% |
| EPS growth | +46.90% | +92.30% |
| FCF margin | N/A | N/A |
| Operating margin | 50.39% | 42.32% |
| Profit margin | 34.92% | 31.04% |
| ROIC proxy | 17.79% | 16.95% |
| Return on equity | 17.79% | 16.95% |
| Dividend yield | 1.76% | 1.88% |
| Beta | 0.98 | 1.29 |
| Debt/equity | N/A | 647.15 |
| Current ratio | N/A | 2.57 |
| Quick ratio | N/A | 2.06 |
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | JPM | GS |
|---|---|---|---|
| 1Y | Growth | +16.46% | +49.44% |
| CAGR | +16.54% | +49.69% | |
| Sharpe ratio | 0.60 | 1.33 | |
| Max drawdown | 15.47% | 19.84% | |
| Max daily drop | 4.66% | 7.47% | |
| Max wkly drop | 7.09% | 10.07% | |
| 5Y | Growth | +145.33% | +211.01% |
| CAGR | +19.67% | +25.49% | |
| Sharpe ratio | 0.68 | 0.79 | |
| Max drawdown | 38.77% | 32.84% | |
| Max daily drop | 7.48% | 9.21% | |
| Max wkly drop | 13.76% | 15.72% | |
| 10Y | Growth | +575.72% | +689.92% |
| CAGR | +21.06% | +22.97% | |
| Sharpe ratio | 0.67 | 0.69 | |
| Max drawdown | 43.63% | 48.75% | |
| Max daily drop | 14.96% | 12.71% | |
| Max wkly drop | 23.11% | 24.20% |
| Category | JPM | GS |
|---|---|---|
| Company | JPMorgan Chase & Co. | The Goldman Sachs Group, Inc. |
| Sector | Financial Services | Financial Services |
| Industry | Banks - Diversified | Capital Markets |
| Core business | The largest US bank by assets, with diversified businesses spanning consumer banking, commercial banking, investment banking, asset management, and markets. Consistent earnings through cycles with strong capital generation. | Global investment bank with leading advisory, underwriting, and trading businesses, plus asset and wealth management. Exited consumer banking (Marcus) to refocus on core institutional and high-net-worth strengths. |
| Investor focus | Net interest income trajectory, investment banking and markets revenue cycles, expense discipline, capital return via dividends and buybacks, and credit quality. | Investment banking deal flow recovery, trading revenue consistency, asset and wealth management fee growth, and expense efficiency after the Marcus retreat. |
- →Largest and most diversified US bank with scale advantages across every business line
- →Consistently strong return on equity relative to peers through multiple economic cycles
- →Fortress balance sheet and conservative risk management culture under Jamie Dimon
- →Best-in-class investment banking and advisory franchise with top-tier M&A market share
- →Strong fixed income and equities trading operations generating consistent revenue
- →Refocused strategy after Marcus exit improves returns and reduces consumer credit risk
- →Net interest margin compression if interest rates decline
- →Credit quality deterioration in consumer and commercial loan books in a recession
- →Investment banking revenue cyclicality tied to M&A and capital markets activity
- →Investment banking revenue is highly cyclical and tied to deal and IPO market conditions
- →Trading revenue volatility adds earnings unpredictability
- →Higher concentration in institutional and capital markets vs JPM's more diversified model
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