JPMorgan Chase (JPM)
Financials · $905B market cap · SEC CIK 0000019617
fundamentals score out of 100
Next reports on Oct 13, 2026, with analysts expecting $5.88 in earnings per share.
The case for JPM
- 33% of revenue drops through to net profit.
- Pays a 2.7% dividend while you wait.
- Reasonably priced at 13.9× earnings.
- A PEG of 0.71: a P/E of 13.9× is low for EPS growing 19%.
- Return on equity of 18%.
The case against
- Weakest against its peers: price/sales of 2.9× is higher than 65% of Financials companies.
- Its weakest area is growth (49/100): EPS +19.5%, +7.7% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Financials companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 59 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 49 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 78 |
| Momentumhow the price has behaved lately | 67 |
| Stabilityhow violently it moves, what it owes and what it pays you | 68 |
- Its one-year revenue change (+109%) is far out of line with its five-year trend (+8% a year). In the Financials sector that is usually interest income swinging with rates rather than growth, so only the five-year figure is used.
- Its debt and cash flow are not scored, as for every company in the Financials sector: for banks, insurers and brokers, borrowing is the business.
- Each factor except momentum is half fixed thresholds, half rank among the 74 Financials companies.
Key numbers
| Price / earnings | 13.9× |
|---|---|
| Price / book | 2.32× |
| Price / sales | 2.9× |
| Revenue growth (YoY) | +109.0% (not used: out of line with the five-year +7.7% a year) |
| EPS growth (YoY) | +19.5% |
| Gross margin | — |
| Operating margin | 41% |
| Net margin | 33% |
| Return on equity | 18% |
| Debt / equity | 3.30× |
| Current ratio | n/a |
| Dividend yield | 2.74% |
| Beta | 1.04 |
| 52-week range | $279.10 – $366.50 |
| Position in that range | 70% of the way up |
| 3-month return | +8.2% |
| 1-year return | +11.8% |
Five years of financials, as filed
Pulled from JPMorgan Chase's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $182B | $178B | $158B | $129B | $122B |
| Net income | $57.0B | $58.5B | $49.6B | $37.7B | $48.3B |
| Operating cash flow | -$148B | -$42.0B | $13.0B | $107B | $78.1B |
| Total assets | $4.42T | $4.00T | $3.88T | $3.67T | $3.74T |
| Total liabilities | $4.06T | $3.66T | $3.55T | $3.37T | $3.45T |
| Shareholder equity | $362B | $345B | $328B | $292B | $294B |
| Cash | $343B | $469B | $624B | $567B | $741B |
| Net margin | 31.2% | 32.9% | 31.4% | 29.3% | 39.7% |
| Diluted shares | 2.8B | 2.9B | 2.9B | 3.0B | 3.0B |
Share count is down 8.1% over 4 years. Buybacks have been shrinking the pie.
What JPMorgan Chase says it does
Overview JPMorgan Chase & Co. ("JPMorganChase" or the "Firm", NYSE: JPM), a financial holding company incorporated under Delaware law in 1968, is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362.4 billion in stockholders’ equity as of December 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers, predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. JPMorganChase’s principal bank subsidiary is JPMorgan Chase Bank, National Association ("JPMorgan Chase Bank, N.A."), a national banking association with U.S. branches in 48 states and Washington, D.C.…
Risk factors JPM lists in its 10-K
- Financial performance of JPMorganChase
- Comparisons noted in the sections below are for the full year of 2025 versus the full year of 2024, unless otherwise specified
- Certain components of other expense
- Consolidated balance sheets analysis
- Selected Consolidated balance sheets data
- Investment securities, net of allowance for credit losses
- Loans, net of allowance for loan losses
- Cash and due from banks and deposits with banks
- Federal funds sold and securities purchased under resale agreements
- Accrued interest and accounts receivable
- Goodwill, MSRs and other intangibles
- Selected Consolidated balance sheets data (continued)
- Total liabilities and stockholders’ equity
- Federal funds purchased and securities loaned or sold under repurchase agreements