# JPMorgan American Investment Trust plc (JAM.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Financial Services. Price 1210p, market value 2.0 billionp.

## Valuation
- **P/E (trailing): 5.5×** (5-yr avg 956.6×, 3-yr avg 1123.3×). JPMorgan American Investment Trust plc trades at 5.5× trailing earnings, well below its own five-year average of 956.6×: cheap by its own standards. The Financial Services median in the September 2026 study was 13.1×.
- **Price / sales: 3.5×**. Each dollar of revenue is priced at 3.5×.
- **Price / book: 1.1×**. The shares trade at 1.1× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 2.4×**. Enterprise value is 2.4× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 1.2%** (5-yr avg 0.0%). Free cash flow equals 1.2% of the market value, above its five-year average of 0.0%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 18.2%**. The inverse of the P/E: 18.2% of the price is earned each year.

## Profitability
- **Gross margin: 99.0%**. JPMorgan American Investment Trust plc keeps 99.0% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 97.7%**. 97.7% of revenue is left after running the business, an exceptional level.
- **Net margin: 89.8%**. 89.8% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.2%**. 4.2% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 27.1%**. Return on all capital, debt included, is 27.1%: comfortably above what that capital costs.
- **Return on assets: 26.9%**. Each dollar of assets produces 26.9% of profit; low single digits are normal for banks and insurers.

## Growth
- **Revenue growth (1 yr): -46.0%** (3-yr -2.3%/yr, 5-yr 3.0%/yr). Revenue fell 46.0% over the last year, against 3.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -82.3%** (5-yr -15.7%/yr). Earnings per share fell 82.3%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 4.3%/yr**. Free cash flow has compounded at 4.3% a year over three years.

## Financial health
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.
- **Cash and short-term investments: 1 millionp**. Leverage ratios are shown differently for banks and insurers, whose balance sheets are built on deposits and reserves; use return on equity and the regulatory capital in the filings instead.

## Dividends
- **Dividend: none**. JPMorgan American Investment Trust plc does not currently pay a dividend, but it returned 8.0% of its market value through buybacks over the last year.

## Price and momentum
- **Total return (1 yr): 13.3%** (YTD 8.1%, 3-mo 1.0%). The shares are up 13.3% over twelve months including dividends.
- **From 52-week high: -3.8%** (16.3% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 46**. An RSI of 46 is neutral.
- **Beta (1 yr): 0.50** (volatility 13%). Beta of 0.50 against the FTSE All-Share: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=JAM.L · Page: https://foliofundamentals.com/stocks/jam.l

Not investment advice.