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JPMorgan ChaseJPM +0.01%84 Price-to-Tangible-Book is 3.23 as of Aug. 21, 2026, which is 58% above its 10-year median of 2.04. GuruFocus rates JPM with a GF Score™ of 84/100 and a GF Value™ of $313.65 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,500 Banks companies, JPMorgan Chase ranks worse than 95.8% on this metric.
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
JPMorgan Chase Price-to-Tangible-Book Related Terms
JPMorgan Chase Price-to-Tangible-Book Historical Data
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The historical data trend for JPMorgan Chase's Price-to-Tangible-Book can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
JPM vs BAC, WFC, C: Price-to-Tangible-Book Comparison
For the Banks - Diversified subindustry, JPMorgan Chase's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
JPMorgan Chase Price-to-Tangible-Book vs Banks Industry
For the Banks industry and Financial Services sector, JPMorgan Chase's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where JPMorgan Chase's Price-to-Tangible-Book falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
JPMorgan Chase (JPM) has a Price-to-Tangible-Book of 3.23 as of Aug. 21, 2026. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on JPMorgan Chase and its competitors. This is 58% above median its historical median of 2.04. Over the past decade, JPMorgan Chase's Price-to-Tangible-Book has ranged from 1.36 to 3.28. According to the industry distribution chart, JPMorgan Chase ranks #1437 out of 1500 companies in the Banks industry, placing it in the top 95.8%.
Is JPMorgan Chase's Price-to-Tangible-Book too high?
JPMorgan Chase's current Price-to-Tangible-Book of 3.23 is 58% above median its 10-year median of 2.04. Over the past 10 years, this metric has ranged from a low of 1.36 to a high of 3.28. The Banks industry median Price-to-Tangible-Book is 1.19. JPMorgan Chase's value of 3.23 is 171.4% above this industry median. Based on the distribution chart, JPMorgan Chase ranks #1437 out of 1500 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, JPMorgan Chase has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JPMorgan Chase's Price-to-Tangible-Book compare to BAC and WFC?
According to the Banks industry distribution chart, JPMorgan Chase ranks #1437 out of 1500 companies for Price-to-Tangible-Book. This places JPMorgan Chase in the lower half of its industry. The industry median Price-to-Tangible-Book is 1.19. JPMorgan Chase's value of 3.23 is 171.4% above this benchmark. Historically, JPMorgan Chase's own Price-to-Tangible-Book has ranged from 1.36 to 3.28 over the past decade. While the company's 10-year median is 2.04 vs. the industry median of 1.19, JPMorgan Chase has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Price-to-Tangible-Book for a Banks company?
The median Price-to-Tangible-Book among Banks companies is 1.19, based on 1,500 companies in the industry. Companies in the top quartile (top 25%) have a Price-to-Tangible-Book significantly above this median, while those in the bottom quartile fall well below. However, Price-to-Tangible-Book should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. JPMorgan Chase's current Price-to-Tangible-Book of 3.23 is 171.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Price-to-Tangible-Book mean?
A high Price-to-Tangible-Book can signal that a stock is expensive relative to its fundamentals. Price-to-tangible-book ratio is the ratio of share price to a company's tangible book value per share. View historical data on JPMorgan Chase and its competitors. For the Banks industry, the median Price-to-Tangible-Book is 1.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. JPMorgan Chase's current Price-to-Tangible-Book is 3.23, which is 58% above median its own 10-year median of 2.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JPMorgan Chase stock overvalued right now?
Based on GuruFocus' analysis, JPMorgan Chase (JPM) is currently considered Modestly Overvalued. The stock's GF Value™ is $313.65, compared to a current price of $351.58 — trading 12.1% above its estimated fair value. The current Price-to-Tangible-Book is 3.23, which is 58% above median its 10-year median of 2.04 and 171.4% above the Banks industry median of 1.19. JPMorgan Chase's overall GF Score™ is 84/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Price-to-Tangible-Book calculated?
Price-to-Tangible-Book is calculated from a company's financial statements. For JPMorgan Chase (JPM), the current Price-to-Tangible-Book is 3.23 as of Aug. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is JPMorgan Chase (JPM) Overvalued in 2026?
Based on GuruFocus' analysis, JPMorgan Chase stock appears to be overvalued.
The current stock price of $351.58 is trading 12.1% above its estimated GF Value™ of $313.65.
GuruFocus considers JPMorgan Chase to be Modestly Overvalued.
Key valuation signals for JPM:
Price-to-Tangible-Book: 3.23 (58% above median its 10-year median of 2.04)
GF Value™: $313.65 vs. price of $351.58 (12.1% above fair value)
Industry Position: 171.4% above the Banks median (#1437 of 1500)
No single metric tells the full story. See the JPM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JPMorgan is a leading global financial services firm with operations in 66 countries and over 318,000 employees as of year-end 2025. Under the JPMorgan brands, the bank holding company boasts a $4.9 trillion balance sheet and $2.68 trillion in deposits, as of March 2026. The firm generates its revenue across three core operating segments: consumer and community banking, the commercial and investment bank, and asset and wealth management. It maintains the top global ranking in investment banking fees with an 8.4% market share, serves millions of consumers through its network of over 5,000 US branches, and manages over $7.1 trillion in client assets within its wealth and asset management franchise.
84GF Score
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