JPMorgan Chase (JPM)

Financials · $911B market cap · SEC CIK 0000019617

Next reports on Jan 14, 2027, after the close, with analysts expecting $5.90 in earnings per share.

52-week range $279.10 to $366.50. 7% below its 52-week high and 23% above its low.

The case for JPM

• Cheap for its growth: 13.8× earnings, where 10%+ a year of growth plus a 2.7% dividend would justify about 27×.
• 33% of revenue drops through to net profit.
• Pays a 2.7% dividend while you wait.
• Return on equity of 18%.

The case against

• Weakest against its peers: price/sales of 2.9× is higher than 59% of Financials companies.
• Its weakest area is the price trend (56/100): +8.9% over a year, −4.9% over three months, 7% below its 52-week high.

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. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• 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 76 Financials companies.

The financials

The financials, five years deep

Pulled from JPMorgan Chase's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

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

• The above summary is subject in its entirety to the discussion of the risk factors set forth below
• JPMorganChase’s businesses are highly regulated and are significantly affected by applicable law and supervisory expectations
• Differences in the supervision and regulation of financial services firms could require JPMorganChase to modify its operations and incur higher operational and compliance costs
• JPMorganChase faces significant legal risks from civil and governmental proceedings, including litigation, investigations and enforcement actions
• Resolving an investigation by a governmental authority could subject JPMorganChase to significant penalties and other repercussions
• JPMorganChase’s compliance risk and operating costs could be higher in jurisdictions with less predictable legal, regulatory and judicial frameworks
• JPMorganChase's business and operations could be negatively affected by governmental policies that discourage or penalize doing business with certain industries or that require specific business practices
• Changes in the requirements for the regulatory evaluation of JPMorganChase’s resolution plan could increase its funding or operational costs or require restructuring or curtailment of its businesses
• Holders of JPMorgan Chase & Co.’s debt and equity securities will absorb losses if it were to enter into a resolution
• JPMorganChase’s businesses could be negatively affected by economic uncertainty resulting from political and geopolitical developments
• Adverse economic and market events and conditions could negatively affect JPMorganChase’s results of operations and investment and market-making positions
• JPMorganChase’s consumer businesses could be negatively affected by adverse economic conditions and adverse impacts of governmental policies
• Unfavorable market and economic conditions could adversely affect JPMorganChase’s wholesale businesses
• Changes in interest rates and credit spreads could adversely affect JPMorganChase’s earnings or its liquidity and capital levels
• JPMorganChase’s results could be materially affected by market fluctuations and significant changes in the valuation of financial instruments
• JPMorganChase could be negatively affected by adverse changes in the financial condition of clients, counterparties, CCPs and other market participants
• JPMorganChase could suffer losses if the value of collateral declines
• JPMorganChase could incur significant losses arising from concentrations of credit and market risk
• JPMorganChase’s ability to operate its businesses could be impaired if its liquidity is constrained
• JPMorgan Chase & Co. is a holding company and depends on its subsidiaries for funding to make payments on its outstanding securities
• JPMorganChase’s liquidity and cost of funding could be adversely affected by downgrades in its credit ratings
• JPMorganChase’s ability to distribute capital to shareholders, and to support its business activities could be limited if it does not satisfy applicable regulatory capital requirements
• JPMorganChase’s businesses could be adversely affected by the failure or disruption of operational systems on which they depend
• JPMorganChase’s interconnectedness with clients, customers and other external parties could be a source of significant operational risk
• A successful cyber attack could cause significant harm to JPMorganChase and its clients and customers
• JPMorganChase’s businesses could be adversely affected if it fails to identify and address operational risks associated with the introduction of or changes to products, services, delivery platforms or technologies
• JPMorganChase’s business and operations rely on appropriate staffing and on the competence, trustworthiness, health and safety of employees
• JPMorganChase faces substantial legal and operational risks related to the processing and safeguarding of personal information
• JPMorganChase’s operations, results and reputation could be harmed by occurrences of extraordinary events beyond its control
• Any failure to maintain adequate data management processes could adversely affect JPMorganChase’s ability to effectively manage its businesses, comply with applicable law or make informed business decisions
• Enhanced regulatory and other standards for the oversight of JPMorganChase’s vendors and other service providers could result in higher costs and other potential exposures
• JPMorganChase could incur losses arising from any significant inadequacy or lapse in its risk management framework and control environment
• A significant inadequacy in disclosure or financial reporting controls could negatively affect JPMorganChase’s business, operations and reputation
• JPMorganChase’s results or competitive standing could suffer if its management fails to develop and execute effective business strategies and to anticipate changes affecting those strategies
• JPMorganChase’s operations, results, and competitive standing could be adversely affected by the development of advanced technologies such as AI
• The effects of climate change could adversely affect JPMorganChase’s business and operations, both directly and as a result of impacts on its clients and customers
• Conduct failure by JPMorganChase employees could trigger litigation and regulatory actions and harm JPMorganChase’s reputation
• Damage to JPMorganChase’s reputation could negatively affect its business, results and prospects
• Failure to effectively manage potential conflicts of interest or to satisfy fiduciary obligations could result in litigation and enforcement actions and cause reputational harm
• An outbreak or escalation of hostilities between countries or within a country or region could have a material adverse effect on the global economy and on JPMorganChase’s businesses within the affected region or globally
• JPMorganChase’s business and operations in certain countries could be adversely affected by local economic, political, regulatory and social factors
• Various factors could impact JPMorganChase’s workforce

Filings

Other Financials companies