JPM vs RY: JPMorgan Chase & and Royal Bank of Canada compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- JPMorgan Chase & is the larger company, worth $878.7B, about 3.2 times Royal Bank of Canada.
- JPMorgan Chase & grew revenue faster over the last year (+27.7% vs +7.3%).
- On earnings, JPMorgan Chase & is the cheaper stock (15.7x vs 18.5x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | JPM | RY |
|---|---|---|
| Market cap | $878.7B | $272.2B |
| Share price | $332.99 | $191.91 |
| Revenue (last fiscal year) | $182.4B | $66.6B |
| Free cash flow (last fiscal year) | — | — |
| Revenue growth, last year | +27.7% | +7.3% |
| Revenue growth per year, last 5 fiscal years | +10.7% | +7.6% |
| Operating margin | — | — |
| Net margin | 32.6% | 31.0% |
| Return on equity | 17.4% | 15.0% |
| P/E (trailing) | 15.7x | 18.5x |
| Price / free cash flow | 8.72x | 5.14x |
| EV / EBITDA | 6.84x | — |
| FCF growth the price implies | — | — |
| Dividend yield | 1.8% | 3.1% |
| Debt / equity | 12.4x | 15.8x |
| Fundamental grade | B | C |
| Superinvestors holding it | 22 | 2 |
| Insider purchases, last 12 months | 10 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
JPMorgan Chase &
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $121.6B | — | — |
| 2022 | $128.7B | — | — |
| 2023 | $158.1B | — | — |
| 2024 | $177.6B | — | — |
| 2025 | $182.4B | — | — |
Royal Bank of Canada
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $49.7B | — | — |
| 2022 | $49.0B | — | — |
| 2023 | $51.5B | — | — |
| 2024 | $57.3B | — | — |
| 2025 | $66.6B | — | — |
Where the revenue comes from
JPMorgan Chase & · by segments, 2025
Commercial & Investment Bank$78.5B44%
Consumer & Community Banking$76.0B43%
Asset & Wealth Management$24.1B13%
Royal Bank of Canada · by segments, 2025
Wealth Management$22.4B34%
Personal Banking$19.9B30%
Capital Markets$14.4B22%
Commercial Banking$8.6B13%
Insurance$1.3B2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open JPM in InvestinglyQuestions
Which is bigger, JPMorgan Chase & or Royal Bank of Canada?
JPMorgan Chase & (JPM), at $878.7B against $272.2B.
Is JPM or RY cheaper?
By trailing P/E, JPMorgan Chase & (15.7x) is cheaper than Royal Bank of Canada (18.5x). A lower multiple can also mean the market expects less growth.
Which grows faster, JPM or RY?
JPMorgan Chase &: revenue grew +27.7% over the last year, against +7.3%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.