Company Dashboard
JPMorgan Chase & Co.
JPMNYSEThe largest U.S. bank by assets, JPM runs a universal banking model spanning consumer lending, investment banking, trading, commercial banking, and asset management. The earnings story is about NII leverage, credit cycle management, and regulatory capital discipline.
Coverage window
44 quarters from Q1 '15 to Q4 '25
Fiscal year = calendar year (Q1 = Jan–Mar)
JPM Stock Price
$294.60▼ $0.78 (0.26%)as of Apr 3, 2026, 1:46 AM
Mkt Cap
$794.55B
P/E Ratio
14.71
52-wk High
$337.25
52-wk Low
$202.16
Source: Yahoo Finance · End-of-day data · Hover or tap for detail
JPM's fiscal year matches the calendar year. Quarterly views follow standard calendar quarters. The annual summary table uses Q4 year-end values for point-in-time ratios (ROTCE, CET1, efficiency ratio).
Net Revenue
$46.8B
Q4 '25 (Dec 2025)
+9.3% vs Q4 '24
ROTCE
18%
Q4 '25
-3pp vs Q4 '24
CET1 Ratio
14.5%
Q4 '25
-1.2pp vs Q4 '24
NIM
2.52%
Q4 '25
-4bp vs Q4 '24
Efficiency Ratio
54.0%
Lower is better
+0.8pp vs Q4 '24
Revenue
NII dominance has grown with rates, but non-interest income still matters.
Net interest income now exceeds half of net revenue, a dramatic shift from the near-even split of the low-rate era. The segment view shows CCB and CIB as the revenue engines, with AWM and CB growing steadily.
Net revenue
Quarterly net revenue by NII vs non-interest, 2015–2025
JPM SEC filings, quarterly earnings press releases
Profitability
Operating leverage has been the story — ROTCE consistently above targets.
JPM has delivered ROTCE well above its ~17% long-term target through scale advantages and disciplined expense management. The efficiency ratio, NIM trend, and provision cycle each tell part of the profitability story.
Net interest margin
NII / average interest-earning assets, quarterly 2015–2025
Source: JPM quarterly earnings press releases
The spread JPM earns between what it charges borrowers and what it pays depositors — expands when the Fed raises rates, compresses in low-rate environments.
Credit Quality
The credit cycle is the defining risk factor for bank earnings.
Provisions swung dramatically in 2020 as JPM front-loaded pandemic reserves under CECL, then reversed them in 2021. Net charge-offs, the allowance coverage ratio, and NPL trends show how actual credit losses have evolved versus management's forward estimates.
Net charge-off rate
Quarterly NCO rate, 2015–2025
Source: JPM quarterly earnings press releases
Annualized net write-offs divided by average loans — unlike provisions (forward-looking), NCOs represent actual realized losses on defaulted loans.
CIB Trading & Investment Banking
FICC drives trading revenue; IB advisory fees track the M&A cycle.
JPM's CIB is the largest Wall Street trading operation. FICC typically generates 2-3x equities revenue, with both peaking during volatility episodes. Investment banking fees are split between advisory (M&A) and underwriting (debt + equity capital markets).
Trading revenue
Quarterly FICC + Equities trading revenue, 2015–2025
JPM quarterly earnings press releases
Revenue from market-making and principal trading — FICC typically runs 2-3x equities and both spike during volatility episodes.
Regulatory & Capital Quality
Capital ratios well above regulatory minimums — a fortress balance sheet.
JPM maintains CET1 well above its stress capital buffer requirement, giving it flexibility for buybacks, dividends, and opportunistic acquisitions. Tangible book value per share tracks intrinsic value growth — the key valuation anchor for bank stocks.
SLR (Supplementary Leverage Ratio)
5.8%
Min requirement: 5.0%
TBVPS
$107.56
Q1 '15: $50.14 → 114.5% growth
GSIB Surcharge
4.0%
Highest among US banks
CET1 capital ratio
Common Equity Tier 1 ratio vs regulatory thresholds, 2015–2025
Source: JPM SEC filings, quarterly earnings press releases
Highest-quality regulatory capital (common equity minus deductions) divided by risk-weighted assets. JPM's effective requirement is ~12.5% after Basel III minimum, GSIB surcharge, and stress capital buffer.
Capital Returns
Buybacks paused during COVID, then resumed at scale with Fed approval.
Bank capital returns are regulated through the Fed's CCAR/stress testing process. JPM's return capacity is a function of earnings power and capital generation. The 2020 buyback pause and 2022 slowdown reflect regulatory constraints, not operating weakness.
Shareholder returns & shares outstanding
Dividends and buybacks alongside the diluted share count
Latest
Q4 '25 $12.8B
Shares 2.7B
Source: JPMorgan SEC filings & earnings press releases
Cash returned via dividends and buybacks — bank capital returns require Fed approval through annual stress testing (CCAR).
Balance Sheet
Deposits consistently exceed loans — a healthy funding position.
JPM's balance sheet ballooned during COVID as the Fed's QE flooded the system with deposits. The loan-to-deposit ratio, total asset composition, and capital structure all inform the bank's risk profile and earnings capacity.
Balance sheet — Assets
Total assets: loans vs other assets
Latest
Q4 '25 $4425B
Total Loans
Source: JPMorgan SEC filings & earnings press releases · Click to toggle · Hover, focus, or tap bars for detail · Swipe or use tabs to switch views
Annual Summary
| FY | Net Revenue | Net Income | ROTCE | CET1 | Eff. Ratio | Q |
|---|---|---|---|---|---|---|
| 2015 | $93.5B | $24.4B | 12% | 11.6% | 62.3% | 4 |
| 2016 | $96.6B | $24.7B | 15% | 12.2% | 60.7% | 4 |
| 2017 | $100.7B | $24.4B | 10% | 12.1% | 60.9% | 4 |
| 2018 | $108.8B | $32.5B | 15% | 12.0% | 59.8% | 4 |
| 2019 | $115.7B | $36.4B | 18% | 12.4% | 56.9% | 4 |
| 2020 | $120.0B | $29.1B | 22% | 13.1% | 54.7% | 4 |
| 2021 | $121.6B | $48.3B | 18% | 13.1% | 61.1% | 4 |
| 2022 | $128.7B | $37.7B | 20% | 13.2% | 55.1% | 4 |
| 2023 | $158.1B | $49.6B | 14% | 15.0% | 63.5% | 4 |
| 2024 | $177.6B | $58.5B | 21% | 15.7% | 53.2% | 4 |
| 2025 | $185.6B | $57.0B | 18% | 14.5% | 54.0% | 4 |
Employment
The largest U.S. bank by headcount
JPMorgan Chase annual headcount
Full-time employees as reported in annual SEC filings
Source: SEC filings (10-K) via Financial Modeling Prep
Methodology & Sources
Financial data sourced from JPMorgan Chase SEC filings (10-Q, 10-K) via EDGAR XBRL API and quarterly earnings press releases. Segment revenue and net income, CIB trading sub-lines, and regulatory ratios come from JPM's quarterly earnings supplements.
ROTCE, NIM, NCO rate, and NPL ratio are as reported by JPM management. CET1, Tier 1, Total Capital, and SLR ratios are standardized approach figures. TBVPS is calculated as (stockholders' equity − goodwill − intangibles) / diluted shares outstanding.
All dollar amounts in millions USD unless otherwise noted. Shares are diluted weighted-average. JPM's fiscal year matches the calendar year.