It is always more difficult to value banks than simple businesses like supermarkets.
Too many “adjustments“ and “assumptions“ are needed to understand the earnings of a bank.
As an outsider, it is also impossible to tell if the banks are doing charge-offs, provisions, and so on properly. We just have to trust in what they say in the earnings. (actually, that’s kind of true for all companies).
JPMorgan CHASE reported earnings for 2Q2024. net income was $18.1 billion for the ...