Using the PEG framework with analyst consensus forward EPS growth of 10.7% plus 2.1% dividend yield, JPMorgan Chase & Co. has a fair value of $231.40 based on NTM EPS (FY2026) of $21.57. The current PEG ratio is 1.26.
PEG < 1 = bargain, 1–1.5 = fair, > 2 = expensive.
PEG works well for steady growers with predictable earnings.
| EPS Growth RateForward | 8.6% |
| Dividend Yield | +2.1% |
| Adjusted Growth (clamped 8–25%) | 10.7% |
| Fair P/E | 10.7x |
| NTM EPS (FY2026) | $21.57 |
| Fair Value | $231.40 |
| Period | EPS Est. | Growth | Analysts |
|---|---|---|---|
| FY2025 (actual) | $20.05 | — | — |
| FY2026E | $21.57 | +7.6% | 10 |
| FY2027E | $23.33 | +8.2% | 9 |
| FY2028E | $25.70 | +10.1% | 4 |
3Y Forward EPS CAGR: 8.6%
| Year | Net Income | EPS | YoY |
|---|---|---|---|
| FY2021 | $48.3B | $15.36 | — |
| FY2022 | $37.7B | $12.09 | -21.3% |
| FY2023 | $49.6B | $16.23 | +34.2% |
| FY2024 | $58.5B | $19.75 | +21.7% |
| FY2025 | $57.0B | $20.05 | +1.5% |
4Y Historical EPS CAGR: 6.9%
The PEG Fair Value uses the Price/Earnings-to-Growth framework. A stock is fairly valued when its P/E ratio equals its earnings growth rate (PEG = 1.0). This model adds dividend yield to the growth rate per the original PEGY formula.
Growth rate priority: analyst consensus forward EPS CAGR (when ≥ 3 analysts cover the stock), falling back to historical EPS CAGR. Using EPS rather than net income avoids distortion from share buybacks. The growth rate is clamped between 8% and 25% — below 8% would undervalue stable earners, while above 25% would overvalue unsustainable spikes.