Sunday 11 October 2026
Export all JPM data to Excel Powerpack
JPMorgan Chase & Co.
JPM Financial Banks Diversified
JPMorgan Chase & Co.’s revenue for fiscal 2025 (year ended December 2025) was $280.3 billion, up 0.52% from fiscal 2024. In the quarter to June 2026, revenue grew 17.9%, EPS grew 46.9%, free cash flow fell 185.6% and total debt rose 9.70%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for ten consecutive years, revenue growth for three.
332.99
1.57
+0.47%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 52.50 | 81.64 | 91.11 | 95.94 | 76.91 | 123.77 | 101.28 | 123.11 | 164.30 | 202.16 |
Analyst estimates 2026–2028 Powerpack |
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| High | 87.39 | 108.46 | 119.33 | 140.08 | 141.10 | 172.96 | 169.81 | 170.69 | 254.31 | 330.86 | |||||
| People | |||||||||||||||
| People | Employees | 243,355 | 252,539 | 256,105 | 256,981 | 255,351 | 271,025 | 293,723 | 309,926 | 317,233 | 318,512 | ||||
| Revenue/emp, $m | 0.44 | 0.45 | 0.51 | 0.55 | 0.51 | 0.47 | 0.53 | 0.77 | 0.88 | 0.88 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 106,387 | 114,579 | 129,824 | 142,515 | 129,911 | 127,202 | 154,792 | 239,425 | 278,906 | 280,345 | ||||
| Gross margin, % | 90.77 | 87.89 | 83.79 | 81.20 | 92.33 | 95.63 | 83.14 | 66.03 | 63.66 | 65.08 | |||||
| EBT | 34,536 | 35,900 | 40,764 | 44,866 | 35,815 | 59,562 | 46,166 | 61,612 | 75,081 | 72,595 | |||||
| EBT margin, % | 32.46 | 31.33 | 31.40 | 31.48 | 27.57 | 46.82 | 29.82 | 25.73 | 26.92 | 25.89 | |||||
| Net income | 24,733 | 24,441 | 32,474 | 36,431 | 29,131 | 48,334 | 37,676 | 49,552 | 58,471 | 57,048 | |||||
| Depreciation | 5,478 | 6,179 | 7,791 | 8,368 | 8,614 | 7,932 | 7,051 | 7,512 | 7,938 | 8,821 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 29.08 | 32.26 | 38.22 | 44.24 | 42.15 | 42.10 | 52.19 | 81.48 | 97.05 | 100.97 | ||||
| Earnings | 6.24 | 6.35 | 9.04 | 10.75 | 8.89 | 15.39 | 12.10 | 16.25 | 19.79 | 20.05 | |||||
| Cash flow | 5.98 | (3.05) | 4.60 | 1.27 | (25.92) | 25.84 | 36.12 | 4.42 | (14.62) | (53.23) | |||||
| Capex | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| Free cash flow | 5.98 | (3.05) | 4.60 | 1.27 | (25.92) | 25.84 | 36.12 | 4.42 | (14.62) | (53.23) | |||||
| Book value | 69.47 | 71.99 | 75.53 | 81.12 | 90.63 | 97.34 | 98.57 | 111.58 | 119.96 | 130.54 | |||||
| Shares, m | 3,659 | 3,552 | 3,396 | 3,222 | 3,082 | 3,022 | 2,966 | 2,939 | 2,874 | 2,777 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 13.96 | 17.03 | 10.81 | 12.97 | 14.26 | 10.30 | 11.15 | 10.60 | 12.12 | 16.07 | ||||
| P/S | 3.00 | 3.35 | 2.55 | 3.15 | 3.02 | 3.76 | 2.59 | 2.11 | 2.47 | 3.19 | |||||
| P/B | 1.40 | 1.67 | 1.44 | 1.92 | 1.57 | 1.85 | 1.51 | 1.68 | 2.12 | 2.61 | |||||
| EV/Sales | (3.55) | (3.00) | (3.08) | (1.00) | (5.03) | (5.16) | (4.13) | (2.27) | (1.12) | (0.54) | |||||
| EV/FCF | (17.24) | 31.78 | (25.65) | (34.68) | 8.18 | (8.41) | (5.97) | (41.88) | 7.42 | 1.03 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 21,884 | (10,827) | 15,614 | 4,092 | (79,910) | 78,084 | 107,119 | 12,974 | (42,012) | (147,782) | ||||
| Capex | — | — | — | — | — | — | — | — | — | — | |||||
| Free cash flow | 21,884 | (10,827) | 15,614 | 4,092 | (79,910) | 78,084 | 107,119 | 12,974 | (42,012) | (147,782) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 22,561 | 28,646 | (5,341) | (176,877) | (404,093) | (537,680) | (487,201) | (283,111) | (402,347) | (537,405) | ||||
| Total debt | 295,245 | 284,080 | 282,031 | 291,498 | 281,685 | 301,005 | 295,865 | 391,825 | 401,418 | 435,206 | |||||
| Net debt | (696,487) | (727,490) | (732,064) | (590,977) | (1,045,334) | (1,135,102) | (1,040,760) | (1,049,085) | (1,000,684) | (1,047,431) | |||||
| Shareholders’ equity | 254,190 | 255,693 | 256,515 | 261,330 | 279,354 | 294,127 | 292,332 | 327,878 | 344,758 | 362,438 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 0.94 | 0.90 | 1.19 | 1.30 | 0.90 | 1.30 | 0.97 | 1.27 | 1.44 | 1.32 | ||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
| ROE | 10.16 | 9.86 | 13.35 | 14.91 | 11.34 | 18.29 | 13.69 | 16.89 | 18.19 | 16.69 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
JPMorgan Chase & Co. vs peers in Banks Diversified (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| JPM JPMorgan Chase & Co. | $881.0B | 14.2× | 14.0× | +17.89% (above 0%: growing) | +46.86% (above 0%: growing) | −185.57% (below 0%: shrinking) | 69.55% | 0.00% | |
| BAC Bank of America Corporation | $374.9B | 12.3× | 12.0× | +3.67% (above 0%: growing) | +35.56% (above 0%: growing) | +418.04% (above 0%: growing) | 63.89% | 0.00% | Compare |
| SMFG Sumitomo Mitsui Financial Group Inc | $318.2B | 9.5× | — | +17.73% (above 0%: growing) | +85.19% (above 0%: growing) | −63.80% (below 0%: shrinking) | 58.44% | 0.00% | Compare |
| HSBC HSBC Holdings plc | $317.4B | 13.1× | — | −18.77% (below 0%: shrinking) | −24.07% (below 0%: shrinking) | +75.40% (above 0%: growing) | 100.00% | 0.00% | Compare |
| MUFG Mitsubishi UFJ Financial Group, Inc. | $253.0B | 17.4× | — | +21.62% (above 0%: growing) | +32.35% (above 0%: growing) | −145.30% (below 0%: shrinking) | 61.56% | 0.00% | Compare |
| WFC Wells Fargo & Company | $248.1B | 12.1× | 11.7× | +10.37% (above 0%: growing) | +25.47% (above 0%: growing) | +160.40% (above 0%: growing) | 67.35% | 0.00% | Compare |
| C Citigroup Inc. | $214.9B | 13.9× | 12.2× | +6.97% (above 0%: growing) | +56.72% (above 0%: growing) | +33.24% (above 0%: growing) | 54.67% | 0.00% | Compare |
| SAN Banco Santander, S.A. | $196.1B | 10.9× | 10.1× | +4.44% (above 0%: growing) | +8.00% (above 0%: growing) | −105.65% (below 0%: shrinking) | 100.00% | 0.00% | Compare |
| UBS UBS Group AG | $144.1B | 15.7× | 14.4× | −40.29% (below 0%: shrinking) | +21.33% (above 0%: growing) | −53.01% (below 0%: shrinking) | 100.00% | 0.00% | Compare |
| Median of peers | $250.5B | 12.7× | 12.0× | +5.71% | +28.91% | −9.89% | 65.62% | 0.00% |
JPM metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
JPMorgan Chase & Co. (JPM) key facts
- Concern: Net income was $57.0 billion, or $20.05 per share (basic), a net margin of 19.9%.
- Strength: JPMorgan Chase & Co.’s revenue for fiscal 2025 (year ended December 2025) was $280.3 billion, up 0.52% from fiscal 2024.
- JPMorgan Chase & Co. (JPM) is a Banks Diversified company in the Financial sector, listed on the New York Stock Exchange.
- As of October 9, 2026, JPM traded at $332.99, a market capitalization of $881.0 billion.
- At that price the stock trades at 14.2× trailing-twelve-month earnings and 3.0× sales; its P/E is higher than 76% of its own readings over the past ten years.
- JPMorgan Chase & Co. pays an annual dividend of $6.15 per share, a yield of 1.85%, with a payout ratio of 26.4%.
- Return on equity was 16.7% and debt-to-equity 1.23.
- Its Piotroski F-score is 3 out of 9 for fiscal 2025.
Financial Analysis (summary)
Updated
JPMorgan Chase reported revenue of $280.3 billion and net income of $57.0 billion in FY2025. In Q2 FY2026, revenue was $82.5 billion, net income was $21.2 billion and diluted EPS was $7.70. Trailing-twelve-month revenue to Q2 FY2026 was $297.6 billion.
FY2025 operating cash flow and free cash flow were both −$147.8 billion, while the company returned $48.2 billion to shareholders. At Q2 FY2026, net debt was −$1.36 trillion, and the current ratio was 0.8×.