Free Trial

JPMorgan Chase & Co. (JPM) Financials

JPMorgan Chase & Co. logo
$295.99 +4.52 (+1.55%)
Closing price 08/22/2025 03:59 PM Eastern
Extended Trading
$296.68 +0.69 (+0.23%)
As of 08/22/2025 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
Annual Income Statements for JPMorgan Chase & Co.

Annual Income Statements for JPMorgan Chase & Co.

This table shows JPMorgan Chase & Co.'s income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Income / (Loss) Attributable to Common Shareholders
21,745 24,442 24,733 22,567 30,709 36,431 29,131 48,334 37,676 49,552 58,471
Consolidated Net Income / (Loss)
21,745 24,442 24,733 24,441 32,474 36,431 29,131 48,334 37,676 49,552 58,471
Net Income / (Loss) Continuing Operations
21,745 24,442 24,733 24,441 32,474 36,431 29,131 48,334 37,676 49,552 58,471
Total Pre-Tax Income
30,699 30,702 34,536 35,900 40,764 44,866 35,815 59,562 46,166 61,612 75,081
Total Revenue
95,112 93,543 96,569 100,705 108,783 115,720 119,951 121,649 128,695 158,104 177,556
Net Interest Income / (Expense)
43,634 43,510 46,083 50,097 55,059 57,245 54,563 52,311 66,710 89,267 92,583
Total Interest Income
51,531 50,973 55,901 63,971 76,100 84,040 64,523 57,864 92,807 170,588 193,933
Investment Securities Interest Income
51,531 50,973 55,901 63,971 76,100 84,040 64,523 57,864 92,807 170,588 193,933
Total Interest Expense
7,897 7,463 9,818 13,874 21,041 26,795 9,960 5,553 26,097 81,321 101,350
Total Non-Interest Income
51,478 50,033 50,486 50,608 53,724 58,475 65,388 69,338 61,985 68,837 84,973
Other Service Charges
18,397 17,163 16,843 14,012 17,717 19,790 18,902 40,163 37,767 41,038 52,297
Net Realized & Unrealized Capital Gains on Investments
77 202 141 -66 -395 258 802 -345 -2,380 -3,180 -1,021
Investment Banking Income
6,542 6,751 6,572 7,412 7,550 7,501 9,486 13,216 6,686 6,519 8,910
Other Non-Interest Income
10,531 10,408 11,566 11,347 12,059 14,018 18,021 16,304 19,912 24,460 24,787
Provision for Credit Losses
3,139 3,827 5,361 5,290 4,871 5,585 17,480 -9,256 6,389 9,320 10,678
Total Non-Interest Expense
61,274 59,014 56,672 59,515 63,148 65,269 66,656 71,343 76,140 87,172 91,797
Salaries and Employee Benefits
30,160 29,750 30,203 31,208 33,117 34,155 34,988 38,567 41,636 46,465 51,357
Net Occupancy & Equipment Expense
9,713 9,961 10,491 11,438 12,754 14,143 14,787 14,457 14,054 13,836 14,857
Marketing Expense
2,550 2,708 2,897 2,900 3,044 3,351 2,476 3,036 3,911 4,591 4,974
Other Operating Expenses
18,851 16,595 13,081 13,969 14,233 13,620 14,405 15,283 16,539 22,280 20,609
Income Tax Expense
8,954 6,260 9,803 11,459 8,290 8,435 6,684 11,228 8,490 12,060 16,610
Basic Earnings per Share
$5.33 $6.05 $6.24 $6.35 $9.04 $10.75 $8.89 $15.39 $12.10 $16.25 $19.79
Weighted Average Basic Shares Outstanding
3.76B 3.74B 3.66B 3.55B 3.40B 3.22B 3.08B 3.02B 2.97B 2.94B 2.87B
Diluted Earnings per Share
$5.29 $6.00 $6.19 $6.31 $9.00 $10.72 $8.88 $15.36 $12.09 $16.23 $19.75
Weighted Average Diluted Shares Outstanding
3.80B 3.77B 3.69B 3.58B 3.41B 3.23B 3.09B 3.03B 2.97B 2.94B 2.88B
Weighted Average Basic & Diluted Shares Outstanding
3.77B 3.70B 3.66B 3.55B 3.40B 3.07B 3.05B 2.95B 2.94B 2.88B 2.80B
Cash Dividends to Common per Share
$1.58 $1.72 $1.88 $2.12 $2.72 $3.40 $3.60 $3.80 $4.00 $4.10 $4.80

Quarterly Income Statements for JPMorgan Chase & Co.

This table shows JPMorgan Chase & Co.'s income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
Consolidated Net Income / (Loss)
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
Net Income / (Loss) Continuing Operations
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
Total Pre-Tax Income
13,237 15,967 17,586 16,733 11,326 17,293 23,435 16,978 17,375 18,408 18,284
Total Revenue
34,547 38,349 41,307 39,874 38,574 41,934 50,200 42,654 42,768 45,310 44,912
Net Interest Income / (Expense)
20,192 20,711 21,779 22,726 24,051 23,082 22,746 23,405 23,350 23,273 23,209
Total Interest Income
33,054 37,004 41,644 44,556 47,384 47,438 48,513 50,416 47,566 46,853 48,241
Investment Securities Interest Income
33,054 37,004 41,644 44,556 47,384 47,438 48,513 50,416 47,566 46,853 48,241
Total Interest Expense
12,862 16,293 19,865 21,830 23,333 24,356 25,767 27,011 24,216 23,580 25,032
Total Non-Interest Income
14,355 17,638 19,528 17,148 14,523 18,852 27,454 19,249 19,418 22,037 21,703
Other Service Charges
9,377 9,242 12,005 9,885 9,906 10,474 18,883 11,046 11,894 12,282 12,109
Net Realized & Unrealized Capital Gains on Investments
-874 -868 -900 -669 -743 -366 -547 -16 -92 -37 -54
Investment Banking Income
1,418 1,649 1,513 1,722 1,635 1,954 2,304 2,231 2,421 2,178 2,499
Other Non-Interest Income
4,434 7,615 6,910 6,210 3,725 6,790 6,814 5,988 5,195 7,614 7,149
Provision for Credit Losses
2,288 2,275 2,899 1,384 2,762 1,884 3,052 3,111 2,631 3,305 2,849
Total Non-Interest Expense
19,022 20,107 20,822 21,757 24,486 22,757 23,713 22,565 22,762 23,597 23,779
Salaries and Employee Benefits
10,009 11,676 11,216 11,726 11,847 13,118 12,953 12,817 12,469 14,093 13,710
Net Occupancy & Equipment Expense
3,527 3,299 3,337 3,583 3,617 3,632 3,695 3,705 3,825 3,880 3,968
Marketing Expense
1,093 1,045 1,122 1,126 1,298 1,160 1,221 1,258 1,335 1,304 1,279
Other Operating Expenses
4,393 4,087 5,147 5,322 7,724 4,847 5,844 4,785 5,133 4,320 4,822
Income Tax Expense
2,229 3,345 3,114 3,582 2,019 3,874 5,286 4,080 3,370 3,765 3,297
Basic Earnings per Share
$3.56 $4.11 $4.76 $4.33 $3.05 $4.45 $6.13 $4.38 $4.83 $5.08 $5.25
Weighted Average Basic Shares Outstanding
2.97B 2.97B 2.94B 2.93B 2.94B 2.91B 2.89B 2.86B 2.87B 2.82B 2.79B
Diluted Earnings per Share
$3.58 $4.10 $4.75 $4.33 $3.05 $4.44 $6.12 $4.37 $4.82 $5.07 $5.24
Weighted Average Diluted Shares Outstanding
2.97B 2.97B 2.95B 2.93B 2.94B 2.91B 2.89B 2.87B 2.88B 2.82B 2.79B
Weighted Average Basic & Diluted Shares Outstanding
2.94B 2.92B 2.91B 2.89B 2.88B 2.87B 2.85B 2.82B 2.80B 2.78B 2.75B
Cash Dividends to Common per Share
- $1.00 $1.00 $1.05 - $1.15 $1.15 $1.25 - $1.40 $1.40

Annual Cash Flow Statements for JPMorgan Chase & Co.

This table details how cash moves in and out of JPMorgan Chase & Co.'s business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Net Change in Cash & Equivalents
-11,940 -7,341 29,471 40,150 -152,511 -15,162 263,978 213,225 -173,600 56,917 -154,834
Net Cash From Operating Activities
36,593 73,466 21,884 -10,827 15,614 4,092 -79,910 78,084 107,119 12,974 -42,012
Net Cash From Continuing Operating Activities
36,593 73,466 21,884 -10,827 15,614 4,092 -79,910 78,084 107,119 12,974 -42,012
Net Income / (Loss) Continuing Operations
21,745 24,442 24,733 24,441 32,474 36,431 29,131 48,334 37,676 49,552 58,471
Consolidated Net Income / (Loss)
21,745 24,442 24,733 24,441 32,474 36,431 29,131 48,334 37,676 49,552 58,471
Provision For Loan Losses
3,139 3,827 5,361 5,290 4,871 5,585 17,480 -9,256 6,389 9,320 10,678
Depreciation Expense
4,759 4,940 5,478 6,179 7,791 8,368 8,614 7,932 7,051 7,512 7,938
Non-Cash Adjustments to Reconcile Net Income
10,671 -750 3,712 10,893 -5,886 7,625 10,177 -4,827 23,317 2,758 -4,879
Changes in Operating Assets and Liabilities, net
-3,721 41,007 -17,400 -57,630 -23,636 -53,917 -145,312 35,901 32,686 -56,168 -114,220
Net Cash From Investing Activities
-165,636 106,980 -89,202 28,249 -199,420 -52,059 -261,912 -129,344 -137,819 67,643 -163,403
Net Cash From Continuing Investing Activities
-165,636 106,980 -89,202 28,249 -199,420 -52,059 -261,912 -129,344 -137,819 67,643 -163,403
Purchase of Investment Securities
-352,024 -182,267 -126,927 -169,871 -109,445 -260,611 -416,886 -371,585 -171,866 -146,300 -361,929
Sale and/or Maturity of Investments
155,540 286,057 136,189 166,672 116,239 187,899 252,352 299,565 217,293 262,546 300,408
Net Increase in Fed Funds Sold
30,848 3,190 -17,468 31,448 -123,201 72,396 -47,115 34,473 -54,278 39,740 -18,706
Other Investing Activities, net
- - -80,996 - -83,013 -51,743 -50,263 -91,797 -128,968 -88,343 -83,176
Net Cash From Financing Activities
118,228 -187,511 98,271 14,642 34,158 32,987 596,645 275,993 -126,257 -25,571 63,447
Net Cash From Continuing Financing Activities
118,228 -187,511 98,271 14,642 34,158 32,987 596,645 275,993 -126,257 -25,571 63,447
Net Change in Deposits
89,346 -88,678 97,336 57,022 26,728 101,002 602,765 293,764 -136,895 -32,196 3,299
Issuance of Debt
78,515 21,783 83,070 72,811 90,138 61,085 83,124 90,182 78,442 75,417 117,354
Issuance of Preferred Equity
8,847 5,893 0.00 1,258 1,696 5,000 4,500 7,350 0.00 0.00 2,500
Repayment of Debt
-56,033 -67,247 -71,410 -83,079 -76,313 -98,171 -105,055 -54,932 -54,540 -66,814 -96,605
Repurchase of Preferred Equity
- 0.00 0.00 -1,258 -1,696 -4,075 -1,430 -2,575 -7,434 0.00 -9,850
Repurchase of Common Equity
-4,760 -5,616 -9,082 -15,410 -19,983 -24,001 -6,517 -18,408 -3,162 -9,824 -18,830
Payment of Dividends
-6,990 -7,873 -8,476 -8,993 -10,109 -12,343 -12,690 -12,858 -13,562 -13,463 -14,783
Other Financing Activities, Net
9,303 -45,773 6,833 -7,709 23,697 4,490 31,948 -26,530 10,894 21,309 80,362
Effect of Exchange Rate Changes
-1,125 -276 -1,482 8,086 -2,863 -182 9,155 -11,508 -16,643 1,871 -12,866
Cash Interest Paid
8,194 7,220 9,508 14,153 21,152 29,918 13,077 5,142 23,143 77,114 99,642
Cash Income Taxes Paid
1,392 9,423 2,405 4,325 3,542 6,224 8,140 18,737 4,355 9,908 11,715

Quarterly Cash Flow Statements for JPMorgan Chase & Co.

This table details how cash moves in and out of JPMorgan Chase & Co.'s business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents
-76,953 -21,234 -50,877 16,246 112,782 -62,035 -31,297 -96,559 35,057 -43,414 -5,576
Net Cash From Operating Activities
101,222 -111,241 18,865 45,119 60,231 -154,158 38,469 -74,081 147,758 -251,839 29,547
Net Cash From Continuing Operating Activities
101,222 -111,241 18,865 45,119 60,231 -154,158 38,469 -74,081 147,758 -251,839 29,547
Net Income / (Loss) Continuing Operations
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
Consolidated Net Income / (Loss)
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
Provision For Loan Losses
2,288 2,275 2,899 1,384 2,762 1,884 3,052 3,111 2,631 3,305 2,849
Depreciation Expense
1,671 1,649 507 2,019 3,337 2,004 2,002 1,967 1,965 2,030 2,210
Non-Cash Adjustments to Reconcile Net Income
4,086 435 -1,601 -1,103 5,027 -1,862 -8,107 -2,776 7,866 -2,294 -3,072
Changes in Operating Assets and Liabilities, net
82,169 -128,222 2,588 29,668 39,798 -169,603 23,373 -89,281 121,291 -269,523 12,573
Net Cash From Investing Activities
-51,530 23,794 -18,243 -17,790 79,882 -43,379 -94,239 -43,405 17,620 -118,076 -173,060
Net Cash From Continuing Investing Activities
-51,530 23,794 -18,243 -17,790 79,882 -43,379 -94,239 -43,405 17,620 -118,076 -173,060
Purchase of Investment Securities
-59,830 -36,692 -41,221 -30,906 -37,481 -77,707 -72,608 -86,259 -125,355 -57,320 -122,673
Sale and/or Maturity of Investments
54,654 64,060 62,573 64,142 71,771 87,823 66,004 69,123 77,458 89,857 57,682
Net Increase in Fed Funds Sold
-13,537 -1,317 -8,499 -24,285 73,841 -54,371 -62,191 2,160 95,696 -134,479 -41,037
Other Investing Activities, net
-32,817 -2,257 -31,096 -26,741 -28,249 876 -25,444 -28,429 -30,179 -16,134 -67,032
Net Cash From Financing Activities
-142,344 64,557 -49,915 -4,316 -35,897 141,168 27,238 10,746 -115,705 318,059 122,804
Net Cash From Continuing Financing Activities
-142,344 64,557 -49,915 -4,316 -35,897 141,168 27,238 10,746 -115,705 318,059 122,804
Net Change in Deposits
-92,559 33,683 -61,465 -15,301 10,887 25,009 -32,221 29,478 -18,967 85,029 68,433
Issuance of Debt
9,498 8,750 10,607 24,763 31,297 30,830 25,577 27,897 33,050 40,744 23,912
Repayment of Debt
-12,257 -18,047 -17,091 -13,619 -18,057 -21,253 -25,457 -20,670 -29,225 -28,457 -22,364
Repurchase of Common Equity
- -2,690 -2,477 -2,382 -2,275 -2,832 -5,336 -6,361 -4,301 -7,528 -7,506
Payment of Dividends
-3,376 -3,374 -3,277 -3,386 -3,426 -3,493 -3,777 -3,655 -3,858 -3,823 -4,205
Other Financing Activities, Net
-38,216 46,235 23,788 5,609 -54,323 110,407 74,452 -13,693 -90,804 232,094 64,534
Effect of Exchange Rate Changes
15,699 1,656 -1,584 -6,767 8,566 -5,666 -2,765 10,181 -14,616 8,442 15,133
Cash Interest Paid
12,068 15,287 19,963 20,525 21,339 22,864 25,662 26,268 24,848 23,587 24,350
Cash Income Taxes Paid
4,129 1,382 4,084 75 4,367 1,585 6,025 1,260 2,845 1,651 3,034

Annual Balance Sheets for JPMorgan Chase & Co.

This table presents JPMorgan Chase & Co.'s assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Total Assets
2,572,274 2,351,698 2,490,972 2,533,600 2,622,532 2,687,379 3,384,757 3,743,567 3,665,743 3,875,393 4,002,814
Cash and Due from Banks
27,831 20,490 23,873 25,898 22,324 21,704 24,874 26,438 27,697 29,066 23,372
Federal Funds Sold
215,803 212,575 229,967 198,422 321,588 249,157 296,284 261,698 315,592 276,152 295,001
Interest Bearing Deposits at Other Banks
484,477 340,015 365,762 405,406 256,469 241,927 502,735 714,396 539,537 595,085 445,945
Trading Account Securities
857,427 733,387 757,598 736,914 787,537 860,144 1,253,760 1,311,878 1,270,330 1,312,595 1,538,650
Loans and Leases, Net of Allowance
743,151 823,744 880,989 917,093 971,109 984,497 984,525 1,061,328 1,115,921 1,301,286 1,323,643
Loans and Leases
757,336 837,299 894,765 930,697 984,554 997,620 1,012,853 1,077,714 1,135,647 1,323,706 1,347,988
Allowance for Loan and Lease Losses
14,185 13,555 13,776 13,604 13,445 13,123 28,328 16,386 19,726 22,420 24,345
Accrued Investment Income
70,079 46,605 52,330 67,729 73,200 72,861 90,503 102,570 125,189 107,363 101,223
Goodwill
47,647 47,325 - - - - - - - - 64,560
Other Assets
109,534 112,180 112,076 113,587 121,022 177,935 151,539 181,498 182,884 159,308 178,197
Total Liabilities & Shareholders' Equity
2,572,274 2,351,698 2,490,972 2,533,600 2,622,532 2,687,379 3,384,757 3,743,567 3,665,743 3,875,393 4,002,814
Total Liabilities
2,340,547 2,104,125 2,236,782 2,277,907 2,366,017 2,426,049 3,105,403 3,449,440 3,373,411 3,547,515 3,658,056
Non-Interest Bearing Deposits
1,363,427 1,279,715 1,375,179 1,443,982 1,470,666 1,562,431 2,144,257 2,462,303 2,340,179 2,400,688 2,406,032
Federal Funds Purchased and Securities Sold
192,101 152,678 165,666 158,916 182,320 183,675 215,209 194,340 202,613 216,535 296,835
Short-Term Debt
96,566 36,667 34,443 51,802 69,276 40,920 45,208 53,594 44,027 44,712 52,893
Other Short-Term Payables
206,939 177,638 190,543 - 196,710 210,407 231,285 262,755 300,141 290,307 280,672
Long-Term Debt
276,379 288,651 295,245 284,080 282,031 291,498 281,685 301,005 295,865 391,825 401,418
Other Long-Term Liabilities
205,135 168,776 175,706 339,127 165,014 137,118 187,759 175,443 190,586 203,448 220,206
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
231,727 247,573 254,190 255,693 256,515 261,330 279,354 294,127 292,332 327,878 344,758
Total Preferred & Common Equity
231,727 247,573 254,190 255,693 256,515 261,330 279,354 294,127 292,332 327,878 344,758
Total Common Equity
231,727 247,573 254,190 255,693 256,515 261,330 279,354 294,127 292,332 327,878 344,758
Common Stock
97,354 96,584 95,711 94,663 93,246 92,606 92,499 92,520 93,149 94,233 95,016
Retained Earnings
129,977 146,420 162,440 177,676 199,202 223,211 236,990 272,268 296,456 332,901 376,166
Treasury Stock
-17,856 -21,691 -28,854 -42,595 -60,494 -83,049 -88,184 -105,415 -107,336 -116,217 -134,018
Accumulated Other Comprehensive Income / (Loss)
2,189 192 -1,175 -119 -1,507 1,569 7,986 -84 -17,341 -10,443 -12,456
Other Equity Adjustments
20,063 26,068 26,068 26,068 26,068 26,993 30,063 34,838 27,404 27,404 20,050

Quarterly Balance Sheets for JPMorgan Chase & Co.

This table presents JPMorgan Chase & Co.'s assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Total Assets
3,665,743 3,744,305 3,868,240 3,898,333 3,875,393 4,090,727 4,143,003 4,210,048 4,002,814 4,357,856 4,552,482
Cash and Due from Banks
27,697 25,098 26,064 24,921 29,066 22,750 27,265 22,896 23,372 22,066 23,759
Federal Funds Sold
315,592 317,111 325,628 350,059 276,152 330,559 392,763 390,821 295,001 429,506 470,589
Interest Bearing Deposits at Other Banks
539,537 520,902 469,059 486,448 595,085 539,366 503,554 411,364 445,945 403,837 396,568
Trading Account Securities
1,270,330 1,384,884 1,412,762 1,375,652 1,312,595 1,523,424 1,522,942 1,674,425 1,538,650 1,778,352 1,859,771
Loans and Leases, Net of Allowance
1,115,921 1,108,843 1,278,089 1,288,113 1,301,286 1,287,265 1,297,709 1,316,062 1,323,643 1,330,487 1,387,039
Loans and Leases
1,135,647 1,128,896 1,300,069 1,310,059 1,323,706 1,309,616 1,320,700 1,340,011 1,347,988 1,355,695 1,411,992
Allowance for Loan and Lease Losses
19,726 20,053 21,980 21,946 22,420 22,351 22,991 23,949 24,345 25,208 24,953
Accrued Investment Income
125,189 115,316 111,561 127,752 107,363 129,823 135,692 122,565 101,223 117,845 124,463
Goodwill
- - - - - - - - - 64,525 64,465
Other Assets
182,884 181,795 151,346 150,801 159,308 162,887 167,971 175,935 178,197 178,427 192,266
Total Liabilities & Shareholders' Equity
3,665,743 3,744,305 3,868,240 3,898,333 3,875,393 4,090,727 4,143,003 4,210,048 4,002,814 4,357,856 4,552,482
Total Liabilities
3,373,411 3,441,223 3,555,724 3,580,962 3,547,515 3,754,090 3,802,451 3,864,212 3,658,056 4,006,436 4,195,558
Non-Interest Bearing Deposits
2,340,179 2,377,253 2,398,962 2,379,526 2,400,688 2,428,409 2,396,530 2,430,772 2,406,032 2,495,877 2,562,380
Federal Funds Purchased and Securities Sold
202,613 246,396 266,272 268,750 216,535 325,670 400,832 389,337 296,835 533,046 595,340
Short-Term Debt
44,027 42,241 41,022 45,470 44,712 46,268 47,308 50,638 52,893 472,204 65,293
Other Short-Term Payables
300,141 275,077 286,934 292,070 290,307 301,469 295,813 314,356 280,672 - 303,641
Long-Term Debt
295,865 295,489 364,078 362,793 391,825 395,872 394,028 410,157 401,418 - 419,802
Other Long-Term Liabilities
190,586 204,767 198,456 232,353 203,448 256,402 267,940 268,952 220,206 505,743 249,102
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
292,332 303,082 312,516 317,371 327,878 336,637 340,552 345,836 344,758 351,420 356,924
Total Preferred & Common Equity
292,332 303,082 312,516 317,371 327,878 336,637 340,552 345,836 344,758 351,420 356,924
Total Common Equity
292,332 303,082 312,516 317,371 327,878 336,637 340,552 345,836 344,758 331,375 356,924
Common Stock
93,149 93,260 93,683 94,004 94,233 94,008 94,433 94,743 95,016 94,328 94,681
Retained Earnings
296,456 306,208 317,359 327,044 332,901 342,414 356,924 365,966 376,166 386,616 397,424
Treasury Stock
-107,336 -109,372 -111,640 -113,977 -116,217 -118,046 -123,367 -129,739 -134,018 -140,458 -147,983
Accumulated Other Comprehensive Income / (Loss)
-17,341 -14,418 -14,290 -17,104 -10,443 -11,639 -11,338 -6,784 -12,456 -9,111 -7,243
Other Equity Adjustments
27,404 27,404 27,404 27,404 27,404 29,900 23,900 21,650 20,050 - 20,045

Annual Metrics And Ratios for JPMorgan Chase & Co.

This table displays calculated financial ratios and metrics derived from JPMorgan Chase & Co.'s official financial filings.

Metric 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Period end date 12/31/2014 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Growth Metrics
- - - - - - - - - - -
Revenue Growth
-2.32% -1.65% 3.23% 4.28% 8.02% 6.38% 3.66% 1.42% 5.79% 22.85% 12.30%
EBITDA Growth
10.87% 0.52% 12.27% 5.16% 15.39% 9.64% -16.54% 51.91% -21.15% 29.89% 20.10%
EBIT Growth
15.09% 0.01% 12.49% 3.95% 13.55% 10.06% -20.17% 66.30% -22.49% 33.46% 21.86%
NOPAT Growth
21.58% 12.40% 1.19% -1.18% 32.87% 12.19% -20.04% 65.92% -22.05% 31.52% 18.00%
Net Income Growth
21.58% 12.40% 1.19% -1.18% 32.87% 12.19% -20.04% 65.92% -22.05% 31.52% 18.00%
EPS Growth
21.89% 13.42% 3.17% 1.94% 42.63% 19.11% -17.16% 72.97% -21.29% 34.24% 21.69%
Operating Cash Flow Growth
-66.10% 100.77% -70.21% -149.47% 244.21% -73.79% -2,052.83% 197.71% 37.18% -87.89% -423.82%
Free Cash Flow Firm Growth
-51.07% 412.04% -75.55% 21.81% -3.09% 211.24% -67.07% -64.80% 825.33% -252.53% 128.82%
Invested Capital Growth
7.04% -5.26% 1.92% 1.32% 2.75% -2.32% 2.11% 7.01% -2.54% 20.91% 4.53%
Revenue Q/Q Growth
-1.21% 0.14% 1.46% 0.18% 1.31% 2.39% 0.65% -0.06% 4.29% 2.61% 2.42%
EBITDA Q/Q Growth
-6.00% 2.76% 3.84% -0.56% 2.17% 4.13% 10.65% -3.87% 0.60% -0.35% 5.97%
EBIT Q/Q Growth
-5.42% 2.92% 3.94% -1.17% 1.46% 4.78% 13.61% -4.06% 1.27% -3.01% 8.76%
NOPAT Q/Q Growth
-1.41% 2.10% 5.52% -9.26% 9.56% 4.16% 14.17% -3.47% 1.64% -3.32% 8.74%
Net Income Q/Q Growth
-1.41% 2.10% 5.52% -9.26% 9.56% 4.16% 14.17% -3.47% 1.64% -3.32% 8.74%
EPS Q/Q Growth
-2.22% 2.21% 6.54% -9.08% 11.39% 5.62% 16.08% -2.91% 2.03% -3.16% 9.84%
Operating Cash Flow Q/Q Growth
3,822.08% -14.62% 958.87% -162.88% -40.67% 105.32% -358.17% 322.70% 17.72% -75.96% 67.57%
Free Cash Flow Firm Q/Q Growth
-15.68% 85.64% 62.54% -36.79% -55.97% 166.11% -61.27% 69.61% 2.98% -61.96% 187.49%
Invested Capital Q/Q Growth
2.17% -2.15% -2.77% -1.56% 2.38% -2.62% 2.36% 1.54% 1.42% 5.34% -0.94%
Profitability Metrics
- - - - - - - - - - -
EBITDA Margin
37.28% 38.10% 41.44% 41.78% 44.63% 46.00% 37.04% 55.48% 41.35% 43.72% 46.76%
EBIT Margin
32.28% 32.82% 35.76% 35.65% 37.47% 38.77% 29.86% 48.96% 35.87% 38.97% 42.29%
Profit (Net Income) Margin
22.86% 26.13% 25.61% 24.27% 29.85% 31.48% 24.29% 39.73% 29.28% 31.34% 32.93%
Tax Burden Percent
70.83% 79.61% 71.62% 68.08% 79.66% 81.20% 81.34% 81.15% 81.61% 80.43% 77.88%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
29.17% 20.39% 28.38% 31.92% 20.34% 18.80% 18.66% 18.85% 18.39% 19.57% 22.12%
Return on Invested Capital (ROIC)
3.72% 4.15% 4.28% 4.16% 5.42% 6.06% 4.86% 7.70% 5.88% 7.10% 7.48%
ROIC Less NNEP Spread (ROIC-NNEP)
3.72% 4.15% 4.28% 4.16% 5.42% 6.06% 4.86% 7.70% 5.88% 7.10% 7.48%
Return on Net Nonoperating Assets (RNNOA)
6.10% 6.05% 5.58% 5.43% 7.27% 8.01% 5.92% 9.15% 6.97% 8.88% 9.91%
Return on Equity (ROE)
9.82% 10.20% 9.86% 9.59% 12.68% 14.07% 10.78% 16.86% 12.85% 15.98% 17.39%
Cash Return on Invested Capital (CROIC)
-3.08% 9.55% 2.38% 2.85% 2.71% 8.41% 2.77% 0.93% 8.46% -11.83% 3.05%
Operating Return on Assets (OROA)
1.23% 1.25% 1.43% 1.43% 1.58% 1.69% 1.18% 1.67% 1.25% 1.63% 1.91%
Return on Assets (ROA)
0.87% 0.99% 1.02% 0.97% 1.26% 1.37% 0.96% 1.36% 1.02% 1.31% 1.48%
Return on Common Equity (ROCE)
9.82% 10.20% 9.86% 9.59% 12.68% 14.07% 10.78% 16.86% 12.85% 15.98% 17.39%
Return on Equity Simple (ROE_SIMPLE)
9.38% 9.87% 9.73% 9.56% 12.66% 13.94% 10.43% 16.43% 12.89% 15.11% 16.96%
Net Operating Profit after Tax (NOPAT)
21,745 24,442 24,733 24,441 32,474 36,431 29,131 48,334 37,676 49,552 58,471
NOPAT Margin
22.86% 26.13% 25.61% 24.27% 29.85% 31.48% 24.29% 39.73% 29.28% 31.34% 32.93%
Net Nonoperating Expense Percent (NNEP)
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
44.60% 45.35% 45.14% 45.23% 44.97% 44.63% 43.56% 46.08% 46.31% 41.04% 40.09%
Operating Expenses to Revenue
64.42% 63.09% 58.69% 59.10% 58.05% 56.40% 55.57% 58.65% 59.16% 55.14% 51.70%
Earnings before Interest and Taxes (EBIT)
30,699 30,702 34,536 35,900 40,764 44,866 35,815 59,562 46,166 61,612 75,081
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
35,458 35,642 40,014 42,079 48,555 53,234 44,429 67,494 53,217 69,124 83,019
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.76 0.77 0.98 1.20 1.07 1.46 1.25 1.47 1.27 1.46 1.95
Price to Tangible Book Value (P/TBV)
0.96 0.96 1.25 1.52 1.36 1.83 1.55 1.82 1.60 1.81 2.40
Price to Revenue (P/Rev)
1.84 2.04 2.58 3.04 2.52 3.29 2.91 3.56 2.88 3.02 3.78
Price to Earnings (P/E)
8.07 7.80 10.08 13.57 8.93 10.45 12.00 8.96 9.85 9.64 11.48
Dividend Yield
3.32% 3.25% 2.64% 2.31% 3.01% 2.72% 3.14% 2.53% 3.16% 2.45% 1.93%
Earnings Yield
12.39% 12.83% 9.93% 7.37% 11.20% 9.57% 8.33% 11.17% 10.15% 10.37% 8.71%
Enterprise Value to Invested Capital (EV/IC)
0.00 0.00 0.00 0.02 0.04 0.34 0.00 0.00 0.00 0.02 0.45
Enterprise Value to Revenue (EV/Rev)
0.00 0.00 0.00 0.12 0.23 1.73 0.00 0.00 0.00 0.09 2.04
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.30 0.52 3.76 0.00 0.00 0.00 0.20 4.35
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.35 0.61 4.47 0.00 0.00 0.00 0.23 4.81
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.51 0.77 5.50 0.00 0.00 0.00 0.28 6.18
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 1.60 48.96 0.00 0.00 0.00 1.08 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.74 1.54 3.97 0.00 0.00 0.00 0.00 15.17
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.61 1.31 1.30 1.31 1.37 1.27 1.17 1.21 1.16 1.33 1.32
Long-Term Debt to Equity
1.19 1.17 1.16 1.11 1.10 1.12 1.01 1.02 1.01 1.20 1.16
Financial Leverage
1.64 1.46 1.31 1.31 1.34 1.32 1.22 1.19 1.18 1.25 1.32
Leverage Ratio
11.26 10.27 9.65 9.85 10.07 10.25 11.23 12.43 12.63 12.16 11.71
Compound Leverage Factor
11.26 10.27 9.65 9.85 10.07 10.25 11.23 12.43 12.63 12.16 11.71
Debt to Total Capital
61.68% 56.79% 56.47% 56.78% 57.80% 55.99% 53.92% 54.66% 53.76% 57.11% 56.86%
Short-Term Debt to Total Capital
15.97% 6.40% 5.90% 8.76% 11.40% 6.89% 7.46% 8.26% 6.96% 5.85% 6.62%
Long-Term Debt to Total Capital
45.71% 50.39% 50.57% 48.02% 46.40% 49.09% 46.46% 46.40% 46.80% 51.26% 50.24%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
38.32% 43.21% 43.53% 43.22% 42.20% 44.01% 46.08% 45.34% 46.24% 42.89% 43.15%
Debt to EBITDA
10.52 9.13 8.24 7.98 7.24 6.24 7.36 5.25 6.39 6.32 5.47
Net Debt to EBITDA
-10.02 -6.95 -7.25 -6.98 -5.13 -3.39 -11.19 -9.60 -10.20 -6.71 -3.73
Long-Term Debt to EBITDA
7.79 8.10 7.38 6.75 5.81 5.48 6.34 4.46 5.56 5.67 4.84
Debt to NOPAT
17.15 13.31 13.33 13.74 10.82 9.12 11.22 7.34 9.02 8.81 7.77
Net Debt to NOPAT
-16.33 -10.14 -11.72 -12.02 -7.67 -4.95 -17.06 -13.41 -14.41 -9.36 -5.30
Long-Term Debt to NOPAT
12.71 11.81 11.94 11.62 8.68 8.00 9.67 6.23 7.85 7.91 6.87
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-18,018 56,223 13,746 16,744 16,227 50,505 16,632 5,855 54,178 -82,639 23,817
Operating Cash Flow to CapEx
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
-2.28 7.53 1.40 1.21 0.77 1.88 1.67 1.05 2.08 -1.02 0.24
Operating Cash Flow to Interest Expense
4.63 9.84 2.23 -0.78 0.74 0.15 -8.02 14.06 4.10 0.16 -0.41
Operating Cash Flow Less CapEx to Interest Expense
4.63 9.84 2.23 -0.78 0.74 0.15 -8.02 14.06 4.10 0.16 -0.41
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.03 0.03 0.04 0.05
Fixed Asset Turnover
6.34 6.34 6.78 7.12 7.48 5.68 4.53 4.49 0.00 0.00 0.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
604,672 572,891 583,878 591,575 607,822 593,748 606,247 648,726 632,224 764,415 799,069
Invested Capital Turnover
0.16 0.16 0.17 0.17 0.18 0.19 0.20 0.19 0.20 0.23 0.23
Increase / (Decrease) in Invested Capital
39,763 -31,781 10,987 7,697 16,247 -14,074 12,499 42,479 -16,502 132,191 34,654
Enterprise Value (EV)
-179,695 -57,215 -40,722 12,447 25,034 200,341 -147,483 -215,054 -171,802 14,058 361,391
Market Capitalization
175,471 190,547 249,192 306,291 274,108 380,711 349,517 432,879 371,132 477,824 671,398
Book Value per Share
$61.99 $67.25 $71.04 $73.69 $77.14 $83.32 $91.65 $99.53 $99.66 $113.41 $122.46
Tangible Book Value per Share
$48.92 $54.12 $55.88 $58.02 $60.79 $66.31 $74.12 $80.34 $78.91 $91.14 $99.53
Total Capital
604,672 572,891 583,878 591,575 607,822 593,748 606,247 648,726 632,224 764,415 799,069
Total Debt
372,945 325,318 329,688 335,882 351,307 332,418 326,893 354,599 339,892 436,537 454,311
Total Long-Term Debt
276,379 288,651 295,245 284,080 282,031 291,498 281,685 301,005 295,865 391,825 401,418
Net Debt
-355,166 -247,762 -289,914 -293,844 -249,074 -180,370 -497,000 -647,933 -542,934 -463,766 -310,007
Capital Expenditures (CapEx)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)
372,945 325,318 329,688 335,882 351,307 332,418 326,893 354,599 339,892 436,537 454,311
Total Depreciation and Amortization (D&A)
4,759 4,940 5,478 6,179 7,791 8,368 8,614 7,932 7,051 7,512 7,938
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$5.34 $6.05 $6.24 $6.35 $9.04 $10.75 $8.89 $15.39 $12.10 $16.25 $19.79
Adjusted Weighted Average Basic Shares Outstanding
3.76B 3.70B 3.62B 3.55B 3.40B 3.22B 3.08B 3.02B 2.97B 2.94B 2.87B
Adjusted Diluted Earnings per Share
$5.29 $6.00 $6.19 $6.31 $9.00 $10.72 $8.88 $15.36 $12.09 $16.23 $19.75
Adjusted Weighted Average Diluted Shares Outstanding
3.80B 3.73B 3.65B 3.58B 3.41B 3.23B 3.09B 3.03B 2.97B 2.94B 2.88B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $10.75 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
3.73B 3.67B 3.57B 3.43B 3.27B 3.07B 3.05B 2.95B 2.94B 2.88B 2.80B
Normalized Net Operating Profit after Tax (NOPAT)
21,745 24,442 24,733 24,441 32,474 36,431 29,131 48,334 37,676 49,552 58,471
Normalized NOPAT Margin
22.86% 26.13% 25.61% 24.27% 29.85% 31.48% 24.29% 39.73% 29.28% 31.34% 32.93%
Pre Tax Income Margin
32.28% 32.82% 35.76% 35.65% 37.47% 38.77% 29.86% 48.96% 35.87% 38.97% 42.29%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
3.89 4.11 3.52 2.59 1.94 1.67 3.60 10.73 1.77 0.76 0.74
NOPAT to Interest Expense
2.75 3.28 2.52 1.76 1.54 1.36 2.92 8.70 1.44 0.61 0.58
EBIT Less CapEx to Interest Expense
3.89 4.11 3.52 2.59 1.94 1.67 3.60 10.73 1.77 0.76 0.74
NOPAT Less CapEx to Interest Expense
2.75 3.28 2.52 1.76 1.54 1.36 2.92 8.70 1.44 0.61 0.58
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
32.15% 32.21% 34.27% 36.79% 31.13% 33.88% 43.56% 26.60% 36.00% 27.17% 25.28%
Augmented Payout Ratio
54.04% 55.19% 70.99% 99.84% 92.66% 99.76% 65.93% 64.69% 44.39% 47.00% 57.49%

Quarterly Metrics And Ratios for JPMorgan Chase & Co.

This table displays calculated financial ratios and metrics derived from JPMorgan Chase & Co.'s official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics
- - - - - - - - - - -
Revenue Growth
18.08% 24.85% 34.48% 21.88% 11.66% 9.35% 21.53% 6.97% 10.87% 8.05% -10.53%
EBITDA Growth
2.19% 48.25% 42.98% 36.16% -1.64% 9.54% 40.59% 1.03% 31.90% 5.91% -19.43%
EBIT Growth
4.58% 58.67% 61.86% 39.43% -14.44% 8.30% 33.26% 1.46% 53.41% 6.45% -21.98%
NOPAT Growth
5.86% 52.40% 67.33% 35.06% -15.45% 6.31% 25.41% -1.92% 50.48% 9.12% -17.42%
Net Income Growth
5.86% 52.40% 67.33% 35.06% -15.45% 6.31% 25.41% -1.92% 50.48% 9.12% -17.42%
EPS Growth
7.19% 55.89% 72.10% 38.78% -14.80% 8.29% 28.84% 0.92% 58.03% 14.19% -14.38%
Operating Cash Flow Growth
18.95% -165.38% -71.42% 347.85% -40.50% -38.58% 103.92% -264.19% 145.32% -63.36% -23.19%
Free Cash Flow Firm Growth
185.75% 164.05% -346.69% -452.57% -546.69% -1,559.41% 34.45% 23.59% 83.20% 75.75% 2.12%
Invested Capital Growth
-2.54% 0.64% 13.41% 16.41% 20.91% 21.53% 8.96% 11.16% 4.53% 5.76% 7.69%
Revenue Q/Q Growth
5.60% 11.01% 7.71% -3.47% -3.26% 8.71% 19.71% -15.03% 0.27% 5.94% -0.88%
EBITDA Q/Q Growth
8.25% 18.16% 2.71% 3.64% -21.81% 31.60% 31.82% -25.52% 2.09% 5.68% 0.27%
EBIT Q/Q Growth
10.30% 20.62% 10.14% -4.85% -32.31% 52.68% 35.52% -27.55% 2.34% 5.95% -0.67%
NOPAT Q/Q Growth
13.05% 14.66% 14.66% -9.13% -29.23% 44.18% 35.25% -28.93% 8.58% 4.56% 2.35%
Net Income Q/Q Growth
13.05% 14.66% 14.66% -9.13% -29.23% 44.18% 35.25% -28.93% 8.58% 4.56% 2.35%
EPS Q/Q Growth
14.74% 14.53% 15.85% -8.84% -29.56% 45.57% 37.84% -28.59% 10.30% 5.19% 3.35%
Operating Cash Flow Q/Q Growth
656.04% -209.90% 116.96% 139.17% 33.49% -355.94% 124.95% -292.57% 299.45% -270.44% 111.73%
Free Cash Flow Firm Q/Q Growth
8.83% -68.98% -924.55% -26.66% -37.88% -1.35% 62.97% -47.65% 69.68% -46.27% -49.46%
Invested Capital Q/Q Growth
1.42% 1.36% 11.99% 1.12% 5.34% 1.88% 0.40% 3.16% -0.94% 3.07% 2.23%
Profitability Metrics
- - - - - - - - - - -
EBITDA Margin
43.15% 45.94% 43.80% 47.03% 38.01% 46.02% 50.67% 44.42% 45.22% 45.11% 45.63%
EBIT Margin
38.32% 41.64% 42.57% 41.96% 29.36% 41.24% 46.68% 39.80% 40.63% 40.63% 40.71%
Profit (Net Income) Margin
31.86% 32.91% 35.04% 32.98% 24.13% 32.00% 36.15% 30.24% 32.75% 32.32% 33.37%
Tax Burden Percent
83.16% 79.05% 82.29% 78.59% 82.17% 77.60% 77.44% 75.97% 80.60% 79.55% 81.97%
Interest Burden Percent
100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate
16.84% 20.95% 17.71% 21.41% 17.83% 22.40% 22.56% 24.03% 19.40% 20.45% 18.03%
Return on Invested Capital (ROIC)
6.40% 7.02% 7.62% 7.53% 5.46% 7.29% 8.23% 6.84% 7.44% 7.30% 7.22%
ROIC Less NNEP Spread (ROIC-NNEP)
6.40% 7.02% 7.62% 7.53% 5.46% 7.29% 8.23% 6.84% 7.44% 7.30% 7.22%
Return on Net Nonoperating Assets (RNNOA)
7.58% 8.21% 9.57% 9.25% 6.84% 8.89% 10.66% 8.97% 9.85% 9.70% 9.59%
Return on Equity (ROE)
13.98% 15.24% 17.20% 16.79% 12.30% 16.18% 18.89% 15.81% 17.29% 17.00% 16.81%
Cash Return on Invested Capital (CROIC)
8.46% 5.94% -5.48% -7.56% -11.83% -12.34% -1.37% -3.55% 3.05% 1.85% -0.44%
Operating Return on Assets (OROA)
1.33% 1.47% 1.62% 1.69% 1.23% 1.70% 1.99% 1.70% 1.83% 1.74% 1.64%
Return on Assets (ROA)
1.11% 1.17% 1.34% 1.32% 1.01% 1.32% 1.54% 1.29% 1.48% 1.38% 1.35%
Return on Common Equity (ROCE)
13.98% 15.24% 17.20% 16.79% 12.30% 16.18% 18.89% 15.81% 17.29% 16.50% 16.81%
Return on Equity Simple (ROE_SIMPLE)
0.00% 13.86% 15.31% 16.15% 0.00% 14.96% 15.86% 15.55% 0.00% 16.99% 15.84%
Net Operating Profit after Tax (NOPAT)
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
NOPAT Margin
31.86% 32.91% 35.04% 32.98% 24.13% 32.00% 36.15% 30.24% 32.75% 32.32% 33.37%
Net Nonoperating Expense Percent (NNEP)
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue
42.35% 41.77% 37.95% 41.22% 43.45% 42.71% 35.60% 41.68% 41.22% 42.54% 42.21%
Operating Expenses to Revenue
55.06% 52.43% 50.41% 54.56% 63.48% 54.27% 47.24% 52.90% 53.22% 52.08% 52.95%
Earnings before Interest and Taxes (EBIT)
13,237 15,967 17,586 16,733 11,326 17,293 23,435 16,978 17,375 18,408 18,284
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
14,908 17,616 18,093 18,752 14,663 19,297 25,437 18,945 19,340 20,438 20,494
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
1.27 1.22 1.32 1.29 1.46 1.70 1.70 1.72 1.95 2.06 2.25
Price to Tangible Book Value (P/TBV)
1.60 1.53 1.66 1.62 1.81 2.10 2.09 2.12 2.40 2.55 2.74
Price to Revenue (P/Rev)
2.88 2.70 2.80 2.65 3.02 3.54 3.39 3.44 3.78 3.77 4.57
Price to Earnings (P/E)
9.85 8.78 8.61 7.97 9.64 11.37 10.69 11.09 11.48 11.42 14.18
Dividend Yield
3.16% 3.19% 2.84% 2.84% 2.45% 2.07% 2.11% 2.10% 1.93% 1.97% 1.75%
Earnings Yield
10.15% 11.40% 11.62% 12.54% 10.37% 8.79% 9.35% 9.02% 8.71% 8.76% 7.05%
Enterprise Value to Invested Capital (EV/IC)
0.00 0.00 0.00 0.00 0.02 0.16 0.12 0.29 0.45 0.39 0.47
Enterprise Value to Revenue (EV/Rev)
0.00 0.00 0.00 0.00 0.09 0.75 0.56 1.34 2.04 1.76 2.25
Enterprise Value to EBITDA (EV/EBITDA)
0.00 0.00 0.00 0.00 0.20 1.72 1.22 2.96 4.35 3.78 5.00
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 0.00 0.23 1.94 1.39 3.36 4.81 4.18 5.57
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 0.28 2.42 1.77 4.31 6.18 5.34 7.00
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 0.00 1.08 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 15.17 21.45 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.16 1.11 1.30 1.29 1.33 1.31 1.30 1.33 1.32 1.34 1.36
Long-Term Debt to Equity
1.01 0.97 1.17 1.14 1.20 1.18 1.16 1.19 1.16 0.00 1.18
Financial Leverage
1.18 1.17 1.26 1.23 1.25 1.22 1.30 1.31 1.32 1.33 1.33
Leverage Ratio
12.63 13.07 12.88 12.67 12.16 12.25 12.27 12.23 11.71 12.28 12.47
Compound Leverage Factor
12.63 13.07 12.88 12.67 12.16 12.25 12.27 12.23 11.71 12.28 12.47
Debt to Total Capital
53.76% 52.70% 56.45% 56.26% 57.11% 56.77% 56.44% 57.13% 56.86% 57.33% 57.61%
Short-Term Debt to Total Capital
6.96% 6.59% 5.72% 6.27% 5.85% 5.94% 6.05% 6.28% 6.62% 57.33% 7.75%
Long-Term Debt to Total Capital
46.80% 46.11% 50.73% 50.00% 51.26% 50.83% 50.39% 50.85% 50.24% 0.00% 49.86%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.43% 0.00%
Noncontrolling Interests to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital
46.24% 47.30% 43.55% 43.74% 42.89% 43.23% 43.56% 42.87% 43.15% 40.23% 42.39%
Debt to EBITDA
6.39 5.73 6.29 5.89 6.32 6.24 5.65 5.88 5.47 5.61 6.12
Net Debt to EBITDA
-10.20 -8.91 -6.46 -6.53 -6.71 -6.36 -6.17 -4.65 -3.73 -4.55 -5.12
Long-Term Debt to EBITDA
5.56 5.01 5.65 5.23 5.67 5.59 5.04 5.24 4.84 0.00 5.30
Debt to NOPAT
9.02 8.04 8.47 7.97 8.81 8.78 8.17 8.57 7.77 7.91 8.58
Net Debt to NOPAT
-14.41 -12.50 -8.69 -8.84 -9.36 -8.95 -8.93 -6.77 -5.30 -6.42 -7.18
Long-Term Debt to NOPAT
7.85 7.03 7.61 7.08 7.91 7.86 7.29 7.63 6.87 0.00 7.43
Noncontrolling Interest Sharing Ratio
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2.91% 0.00%
Liquidity Ratios
- - - - - - - - - - -
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
27,510 8,534 -70,367 -89,126 -122,884 -124,546 -46,123 -68,099 -20,649 -30,204 -45,144
Operating Cash Flow to CapEx
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
2.14 0.52 -3.54 -4.08 -5.27 -5.11 -1.79 -2.52 -0.85 -1.28 -1.80
Operating Cash Flow to Interest Expense
7.87 -6.83 0.95 2.07 2.58 -6.33 1.49 -2.74 6.10 -10.68 1.18
Operating Cash Flow Less CapEx to Interest Expense
7.87 -6.83 0.95 2.07 2.58 -6.33 1.49 -2.74 6.10 -10.68 1.18
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.03 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04
Fixed Asset Turnover
0.00 4.94 5.22 5.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
632,224 640,812 717,616 725,634 764,415 778,777 781,888 806,631 799,069 823,624 842,019
Invested Capital Turnover
0.20 0.21 0.22 0.23 0.23 0.23 0.23 0.23 0.23 0.23 0.22
Increase / (Decrease) in Invested Capital
-16,502 4,088 84,839 102,277 132,191 137,965 64,272 80,997 34,654 44,847 60,131
Enterprise Value (EV)
-171,802 -156,688 -3,889 -44,569 14,058 122,003 95,377 231,991 361,391 318,526 396,003
Market Capitalization
371,132 368,693 411,762 408,596 477,824 572,538 577,623 596,277 671,398 681,686 801,824
Book Value per Share
$99.66 $102.97 $106.94 $109.21 $113.41 $115.75 $118.59 $121.55 $122.46 $118.51 $128.43
Tangible Book Value per Share
$78.91 $81.88 $84.96 $86.87 $91.14 $93.62 $96.12 $98.90 $99.53 $95.44 $105.24
Total Capital
632,224 640,812 717,616 725,634 764,415 778,777 781,888 806,631 799,069 823,624 842,019
Total Debt
339,892 337,730 405,100 408,263 436,537 442,140 441,336 460,795 454,311 472,204 485,095
Total Long-Term Debt
295,865 295,489 364,078 362,793 391,825 395,872 394,028 410,157 401,418 0.00 419,802
Net Debt
-542,934 -525,381 -415,651 -453,165 -463,766 -450,535 -482,246 -364,286 -310,007 -383,205 -405,821
Capital Expenditures (CapEx)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)
339,892 337,730 405,100 408,263 436,537 442,140 441,336 460,795 454,311 472,204 485,095
Total Depreciation and Amortization (D&A)
1,671 1,649 507 2,019 3,337 2,004 2,002 1,967 1,965 2,030 2,210
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$3.56 $4.11 $4.76 $4.33 $3.05 $4.45 $6.13 $4.38 $4.83 $5.08 $5.25
Adjusted Weighted Average Basic Shares Outstanding
2.97B 2.97B 2.94B 2.93B 2.94B 2.91B 2.89B 2.86B 2.87B 2.82B 2.79B
Adjusted Diluted Earnings per Share
$3.58 $4.10 $4.75 $4.33 $3.05 $4.44 $6.12 $4.37 $4.82 $5.07 $5.24
Adjusted Weighted Average Diluted Shares Outstanding
2.97B 2.97B 2.95B 2.93B 2.94B 2.91B 2.89B 2.87B 2.88B 2.82B 2.79B
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
2.94B 2.92B 2.91B 2.89B 2.88B 2.87B 2.85B 2.82B 2.80B 2.78B 2.75B
Normalized Net Operating Profit after Tax (NOPAT)
11,008 12,622 14,472 13,151 9,307 13,419 18,149 12,898 14,005 14,643 14,987
Normalized NOPAT Margin
31.86% 32.91% 35.04% 32.98% 24.13% 32.00% 36.15% 30.24% 32.75% 32.32% 33.37%
Pre Tax Income Margin
38.32% 41.64% 42.57% 41.96% 29.36% 41.24% 46.68% 39.80% 40.63% 40.63% 40.71%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
1.03 0.98 0.89 0.77 0.49 0.71 0.91 0.63 0.72 0.78 0.73
NOPAT to Interest Expense
0.86 0.77 0.73 0.60 0.40 0.55 0.70 0.48 0.58 0.62 0.60
EBIT Less CapEx to Interest Expense
1.03 0.98 0.89 0.77 0.49 0.71 0.91 0.63 0.72 0.78 0.73
NOPAT Less CapEx to Interest Expense
0.86 0.77 0.73 0.60 0.40 0.55 0.70 0.48 0.58 0.62 0.60
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
36.00% 32.14% 28.09% 26.17% 27.17% 26.98% 26.07% 26.69% 25.28% 25.32% 27.49%
Augmented Payout Ratio
44.39% 40.23% 38.89% 40.90% 47.00% 46.77% 49.80% 57.94% 57.49% 64.73% 72.94%

Key Financial Trends

JPMorgan Chase & Co. (NYSE: JPM) has demonstrated strong operational and financial performance over the past several years through robust income growth, solid asset base expansion, and active cash flow management. Here's a summary analysis focusing on key trends from Q1 2021 through Q2 2025, with an emphasis on recent quarterly results.

  • Consistent Net Income Growth: The company’s quarterly net income has generally increased, from about $8.2 billion in Q1 2021 to roughly $15.0 billion in Q2 2025. This reflects steady profitability improvement.
  • Revenue Stability and Expansion: Total revenue rose from approximately $32 billion in early 2021 to over $44 billion in Q2 2025, driven by healthy net interest income and non-interest income streams.
  • Increasing Loan Portfolio: Loans and leases net of allowances have grown from around $1.05 trillion in Q1 2021 to about $1.39 trillion in Q2 2025, indicating business growth and increasing earning assets.
  • Strong Operating Cash Flows: Net cash from continuing operating activities increased from negative $44 billion in Q1 2021 (due to certain non-cash adjustments and working capital changes) to a positive $29.5 billion in Q2 2025, supporting operational efficiency.
  • Equity Base Expansion: Total common equity rose from approximately $286 billion in Q2 2021 to over $356 billion in Q2 2025, strengthening the company’s capital position.
  • Volatile Investment Activity: Cash flows from investing activities vary significantly quarter to quarter, reflective of active portfolio management with purchases and sales of investment securities exceeding $100 billion in some quarters.
  • Debt Management: Issuance and repayment of debt are ongoing, with both short-term and long-term debt levels fluctuating midyear to midyear, highlighting active capital structure management.
  • Share Repurchases and Dividends: JPMorgan consistently repurchases common equity (amounts ranged roughly from $2B-$7B quarterly) and pays regular dividends, balancing shareholder returns and capital retention.
  • Increase in Deposits with Periodic Fluctuations: Total deposits increased but with quarter-to-quarter fluctuations (e.g., Q1 2025 deposits rose by $85 billion while Q2 2025 deposits increased by $68 billion), possibly affected by macroeconomic or market factors.
  • Significant Negative Changes in Cash Position in Some Quarters: For example, large net decrease in cash & equivalents observed in Q1 2025 (-$43 billion), Q3 2024 (-$96 billion), though partially offset by positive cash flows in financing and investing activities.

Additional Observations:

  • Net Interest Income: Remains a strong driver of revenue, hovering above $20 billion quarterly. Healthy net interest margin supports profitability.
  • Non-Interest Income: Diverse revenue sources, including investment banking, service charges, and other fees, contributed up to $21.7 billion in Q2 2025.
  • Provision for Loan Losses: Although stable around $2.8 to $3.3 billion, these provisions represent a consistent cost burden reflecting credit risk management expenses.
  • Efficiency in Expenses: Total non-interest expenses have increased but remain proportional to revenue growth, reflecting disciplined operational controls.

Summary: JPMorgan Chase & Co. exhibits strong financial health evidenced by growing net incomes, expanding assets, solid capital base, and effective operational cash flows. The bank maintains a diversified revenue base and active balance sheet management, including deposits, loans, and investments. Some volatility exists in cash position and investment activities, expected in a large financial institution managing market and credit risks. Overall, JPM demonstrates resilience and growth potential, supporting a positive outlook for investors.

08/24/25 02:28 PMAI Generated. May Contain Errors.

Frequently Asked Questions About JPMorgan Chase & Co.'s Financials

When does JPMorgan Chase & Co.'s financial year end?

According to the most recent income statement we have on file, JPMorgan Chase & Co.'s fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has JPMorgan Chase & Co.'s net income changed over the last 10 years?

JPMorgan Chase & Co.'s net income appears to be on an upward trend, with a most recent value of $58.47 billion in 2024, rising from $21.75 billion in 2014. The previous period was $49.55 billion in 2023. Find out what analysts predict for JPMorgan Chase & Co. in the coming months.

How has JPMorgan Chase & Co.'s revenue changed over the last 10 years?

Over the last 10 years, JPMorgan Chase & Co.'s total revenue changed from $95.11 billion in 2014 to $177.56 billion in 2024, a change of 86.7%.

How much debt does JPMorgan Chase & Co. have?

JPMorgan Chase & Co.'s total liabilities were at $3.66 trillion at the end of 2024, a 3.1% increase from 2023, and a 56.3% increase since 2014.

How much cash does JPMorgan Chase & Co. have?

In the past 10 years, JPMorgan Chase & Co.'s cash and equivalents has ranged from $20.49 billion in 2015 to $29.07 billion in 2023, and is currently $23.37 billion as of their latest financial filing in 2024.

How has JPMorgan Chase & Co.'s book value per share changed over the last 10 years?

Over the last 10 years, JPMorgan Chase & Co.'s book value per share changed from 61.99 in 2014 to 122.46 in 2024, a change of 97.5%.



This page (NYSE:JPM) was last updated on 8/24/2025 by MarketBeat.com Staff
From Our Partners