JPMorgan Chase & Co (JPM) is overvalued and Mitsubishi UFJ Financial Group Inc ADR (MUFG) is slightly overvalued.
Both trade above our estimate of their intrinsic value. MUFG is the closer of the two: -11%, against -22% for JPM.
Values as of the 22 Sept 2026 close.
Book value at 2.09x, the multiple a 17.7% return on equity justifies, blended with earnings, values the shares at $279.10; the price of $340.00 is 22% above that value.
Leak Score 45/100 on 9 of 12 signals
Book value at 1.87x, the multiple a 12.5% return on equity justifies, blended with earnings, values the shares at $20.77; the price of $23.09 is 11% above that value.
Leak Score 0/100 on 3 of 12 signals
| Metric | JPM | MUFG |
|---|---|---|
| Verdict | Overvalued | Slightly overvalued |
| Price | $340.00 | $23.09 |
| Intrinsic value | $279.10 | $20.77 |
| Margin of safety | -22% | -11% |
| Leak Score | 45/100 (9/12) | 0/100 (3/12) |
| Market cap | $903.8B | $259.9B |
| Revenue growth, 5 years | 17.3% | 11.0% |
| Operating margin | 28.4% | 20.9% |
| Net margin | 21.4% | 20.1% |
| Return on equity | 17.7% | 12.5% |
| Debt to equity | 3.41 | 3.16 |
| P/E | 14.6x | 15.1x |
| Forward P/E | 13.5x | 13.1x |
| P/B | 2.6x | 1.9x |
| Dividend yield | 1.9% | 2.7% |