JPMorgan Chase (JPM) | Financial Analysis & Statements
JPMorgan Chase & Co. Mega-cap Financial Services
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
45.8B
Net Income
13.0B
28.44%
EPS (Diluted)
$4.63
Balance Sheet Metrics
Total Assets
4.4T
Total Liabilities
4.1T
Shareholders Equity
362.4B
Debt to Equity
11.21
Cash Flow Metrics
Operating Cash Flow
115.1B
Free Cash Flow
119.7B
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
JPMorgan Chase Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 181.8B | 169.4B | 155.0B | 128.6B | 121.7B |
| Cost of Goods Sold | - | - | - | - | - |
| Gross Profit | - | - | - | - | - |
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 60.0B | 56.3B | 51.1B | 45.5B | 41.6B |
| Other Operating Expenses | - | - | - | - | - |
| Total Operating Expenses | 60.0B | 56.3B | 51.1B | 45.5B | 41.6B |
| Operating Income | - | - | - | - | - |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Non-Operating Items | |||||
| Interest Income | - | - | - | - | - |
| Interest Expense | - | - | - | - | - |
| Other Non-Operating Income | - | - | - | - | - |
| Pre-tax Income | 72.6B | 75.1B | 61.6B | 46.2B | 59.6B |
| Income Tax | 15.5B | 16.6B | 12.1B | 8.5B | 11.2B |
| Effective Tax Rate % | 21.4% | 22.1% | 19.6% | 18.4% | 18.9% |
| Net Income | 57.0B | 58.5B | 49.6B | 37.7B | 48.3B |
| Net Margin % | 31.4% | 34.5% | 32.0% | 29.3% | 39.7% |
| Key Metrics | |||||
| EBITDA | - | - | - | - | - |
| EPS (Basic) | $20.05 | $19.79 | $16.25 | $12.10 | $15.39 |
| EPS (Diluted) | $20.02 | $19.75 | $16.23 | $12.09 | $15.36 |
| Basic Shares Outstanding | 2776500000 | 2873900000 | 2938600000 | 2965800000 | 3021500000 |
| Diluted Shares Outstanding | 2776500000 | 2873900000 | 2938600000 | 2965800000 | 3021500000 |
Income Statement Trend
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JPMorgan Chase Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 343.3B | 469.3B | 624.2B | 567.2B | 740.8B |
| Short-term Investments | 499.5B | 396.7B | 192.5B | 196.7B | 290.3B |
| Accounts Receivable | 111.6B | 101.2B | 107.4B | 125.2B | 102.6B |
| Inventory | - | - | - | - | - |
| Other Current Assets | - | - | - | - | - |
| Total Current Assets | - | - | - | - | - |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 36.2B | 32.2B | 30.2B | 27.7B | - |
| Goodwill | 117.2B | 117.1B | 117.0B | 112.5B | 107.0B |
| Intangible Assets | 11.7B | 12.0B | 11.7B | 9.2B | 6.4B |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - |
| Total Non-Current Assets | - | - | - | - | - |
| Total Assets | 4.4T | 4.0T | - | - | - |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 186.7B | 153.2B | 162.0B | 188.7B | 169.2B |
| Short-term Debt | 66.0B | 64.5B | 44.7B | 44.0B | 53.6B |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | - | - | - | - | - |
| Total Current Liabilities | - | - | - | - | - |
| Non-Current Liabilities | |||||
| Long-term Debt | 434.0B | 389.8B | 391.8B | 295.9B | 301.0B |
| Deferred Tax Liabilities | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - |
| Total Non-Current Liabilities | - | - | - | - | - |
| Total Liabilities | 4.1T | 3.7T | - | - | - |
| Equity | |||||
| Common Stock | 4.1B | 4.1B | 4.1B | 4.1B | 4.1B |
| Retained Earnings | 416.1B | 376.2B | 332.9B | 296.5B | 272.3B |
| Treasury Stock | 164.6B | 134.0B | 116.2B | 107.3B | 105.4B |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 362.4B | 344.8B | 327.9B | 292.3B | 294.1B |
| Key Metrics | |||||
| Total Debt | 500.0B | 454.3B | 436.5B | 339.9B | 354.6B |
| Working Capital | 0 | 0 | 0 | 0 | 0 |
Balance Sheet Composition
JPMorgan Chase Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 57.0B | 58.5B | 49.6B | 37.7B | 48.3B |
| Depreciation & Amortization | 8.8B | 7.9B | 7.5B | 7.1B | 7.9B |
| Stock-Based Compensation | - | - | - | - | - |
| Working Capital Changes | -218.8B | -114.2B | -56.2B | 32.7B | 35.9B |
| Operating Cash Flow | -162.0B | -44.7B | 3.7B | 100.7B | 87.3B |
| Investing Activities | |||||
| Capital Expenditures | - | - | - | - | - |
| Acquisitions | 0 | -2.4B | -9.9B | 0 | 0 |
| Investment Purchases | -314.2B | -357.4B | -119.6B | -159.9B | -360.5B |
| Investment Sales | 233.5B | 242.5B | 215.2B | 172.4B | 263.7B |
| Investing Cash Flow | -93.4B | -119.4B | 68.9B | 535.0M | -107.9B |
| Financing Activities | |||||
| Share Repurchases | -34.6B | -28.7B | -9.8B | -10.6B | -21.0B |
| Dividends Paid | -16.6B | -14.8B | -13.5B | -13.6B | -12.9B |
| Debt Issuance | 120.8B | 109.9B | 75.4B | 78.4B | 82.4B |
| Debt Repayment | -108.1B | -96.6B | -64.9B | -45.6B | -54.9B |
| Financing Cash Flow | -29.2B | -20.1B | -7.2B | 2.2B | 3.0B |
| Free Cash Flow | -147.8B | -42.0B | 13.0B | 107.1B | 78.1B |
| Net Change in Cash | -284.5B | -184.3B | 65.4B | 103.4B | -17.5B |
Cash Flow Trend
JPMorgan Chase Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
14.86
Forward P/E
13.20
Price to Book
2.42
Price to Sales
4.82
PEG Ratio
0.87
Profitability Ratios
Profit Margin
33.94%
Operating Margin
43.05%
Return on Equity
16.47%
Return on Assets
1.27%
Financial Health
Debt to Equity
3.62
Beta
1.04
Per Share Data
EPS (TTM)
$20.88
Book Value per Share
$128.38
Revenue per Share
$63.10
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| JPM | 854.9B | 14.86 | 2.42 | 16.47% | 33.94% | 3.62 |
| Bank of America | 374.9B | 13.21 | 1.37 | 10.64% | 28.96% | 2.57 |
| Wells Fargo | 243.4B | 12.44 | 1.51 | 12.03% | 26.74% | 2.46 |
| Citigroup | 224.8B | 16.28 | 1.17 | 7.65% | 20.36% | 3.50 |
| Toronto-Dominion | 176.1B | 11.62 | 1.98 | 17.82% | 33.02% | 3.08 |
| Bank of Montreal | 107.5B | 17.16 | 1.75 | 10.47% | 27.08% | 2.78 |
Financial data is updated regularly. All figures are in the company's reporting currency.





