# JPMorgan Stock Q3 2026: NII Up 13%, Buybacks Cut and $30bn of Capital to Deploy
> JPMorgan stock Q3 2026: $50.9bn revenue, NII up 13%, EPS of $5.57, buybacks cut to $1.1bn, a $107bn 2027 NII case and our $405.23 DCF value vs $337.04.

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## Facts
- Ticker: JPM
- QSILabs fair value: $405.23 USD
- Price: $337.04 (as of 2026-10-30)
- As of: Q3 2026 results (13 Oct 2026) and the 30 Oct 2026 close
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/jpmorgan-stock-q3-2026-earnings-nii-buybacks/

## Short answer
JPMorgan (JPM) stock missed Q3 2026 earnings estimates, but the franchise underneath is still growing: loans are up 10%, deposits 9% and client assets under management 13%. Our discounted cash flow model, which treats JPMorgan as a bank and values the cash it can return to shareholders after holding enough capital, puts its value at $405.23 a share, about 20% above the $337.04 close on 30 October 2026. The market is pricing the stock as if its cost of equity were about 9.7%; we use 8.5%.

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Publisher: QSI Labs (Quantitative Super Intelligence Labs)
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