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JPM-PM

JPMorgan Chase & Co.

JPM-PM

JPMorgan Chase & Co. • NYSE
$18.25 ▼ -0.44% (-0.08)
Market Cap $49.68 B
52w High $19.81
52w Low $17.25
Dividend Yield 1.05%
P/E 1.35
Volume 68.92K
Outstanding Shares 2.72B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $71.9B ▲ $24.281B ▲ $14.393B ▼ 20.018% ▼ $5.09 ▼ $20.743B ▲
Q2-2025 $69.914B ▲ $23.739B ▲ $14.987B ▲ 21.436% ▲ $5.25 ▲ $20.494B ▲
Q1-2025 $68.907B ▲ $23.597B ▲ $14.643B ▲ 21.25% ▲ $5.08 ▲ $20.438B ▲
Q4-2024 $67.007B ▼ $22.762B ▲ $14.005B ▲ 20.901% ▲ $4.82 ▲ $19.34B ▲
Q3-2024 $69.667B $22.565B $12.898B 18.514% $4.38 $18.945B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $729.251B ▼ $4.56T ▲ $4.2T ▲ $360.212B ▲
Q2-2025 $890.916B ▲ $4.552T ▲ $4.196T ▲ $356.924B ▲
Q1-2025 $813.883B ▼ $4.358T ▲ $4.006T ▲ $351.42B ▲
Q4-2024 $866.007B ▲ $4.003T ▼ $3.658T ▼ $344.758B ▼
Q3-2024 $757.724B $4.21T $3.864T $345.836B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $14.325B ▼ $38.073B ▲ $-104.598B ▲ $-47.773B ▼ $-116.891B ▼ $38.073B ▲
Q2-2025 $14.987B ▲ $29.547B ▲ $-173.06B ▼ $122.804B ▼ $-5.576B ▲ $29.547B ▲
Q1-2025 $14.643B ▲ $-251.839B ▼ $-118.076B ▼ $318.059B ▲ $-43.414B ▼ $-251.839B ▼
Q4-2024 $14.005B ▲ $147.758B ▲ $17.62B ▲ $-115.705B ▼ $35.057B ▲ $147.758B ▲
Q3-2024 $12.898B $-74.081B $-43.405B $10.746B $-96.559B $-74.081B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Asset and Wealth Management Segment
Asset and Wealth Management Segment
 $5.44Bn ▲$5.78Bn ▲$5.73Bn ▼$5.76Bn ▲
Commercial And Investment Bank
Commercial And Investment Bank
 $0 ▲$0 ▲$19.67Bn ▲$19.54Bn ▼
Consumer Community Banking
Consumer Community Banking
 $17.79Bn ▲$18.36Bn ▲$18.31Bn ▼$18.85Bn ▲
Segment Reconciling Items
Segment Reconciling Items
 $0 ▲$0 ▲$-700.00M ▼$-770.00M ▼
Segment Reporting Reconciling Item Corporate Nonsegment
Segment Reporting Reconciling Item Corporate Nonsegment
 $0 ▲$0 ▲$2.30Bn ▲$1.54Bn ▼
Corporate Investment Bank
Corporate Investment Bank
 $17.02Bn ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Earnings have grown strongly over the past few years, with both revenue and profit moving steadily higher after a brief soft patch around the pandemic. Profitability looks solid: the bank is not just getting bigger, it is also converting more of its revenue into operating and net income, which suggests good cost control and effective pricing power across its businesses. The rising earnings per share indicate that common shareholders have benefited meaningfully from this growth. The main risk point is that a large global bank’s profits are very sensitive to the interest‑rate backdrop, credit conditions, and capital markets activity, so this strong run is unlikely to be perfectly smooth over time.

Balance Sheet

Balance Sheet The balance sheet is very large, diversified, and still expanding, consistent with JPMorgan’s role as a global systemically important bank. Total assets and shareholder equity have both trended higher, supporting the “fortress” capital narrative and giving the firm room to absorb shocks. Debt levels have also increased, but that is normal for a bank that funds loans and securities through a mix of deposits and wholesale borrowing. Cash and liquid resources remain sizable, though they have moved up and down as the firm manages funding, investments, and regulatory liquidity requirements. Overall, the balance sheet looks robust, but its complexity and scale mean it is tightly linked to regulatory oversight and macroeconomic conditions.

Cash Flow

Cash Flow Reported cash flow is quite volatile from year to year, swinging between large inflows and outflows. For a bank, this is not unusual: movements in loans, deposits, and trading assets can overwhelm the underlying picture from earnings, so cash flow statements are harder to interpret than in an industrial company. The key point is that strong accounting profits have not translated into consistently strong operating cash inflows each year, largely because of balance sheet repositioning and interest‑rate shifts. This reinforces that liquidity and funding management are central risk areas to watch, even for a very large, well‑managed institution.

Competitive Edge

Competitive Edge JPMorgan occupies a leading position as the largest U.S. bank with a broad global footprint. It benefits from a powerful combination of scale, brand strength, and diversification across consumer banking, corporate banking, trading, and asset management. This breadth provides multiple earnings engines and cushions the group when one area is under pressure. Its reputation for conservative risk management and strong capital further supports client trust, especially in times of stress. The flip side of this strength is heavy regulatory scrutiny, exposure to global economic and geopolitical shocks, and constant competition from both large peers and nimble fintech players. Even so, the firm’s entrenched relationships and wide product set create a meaningful barrier to entry for most rivals.

Innovation and R&D

Innovation and R&D JPMorgan is one of the most aggressive investors in technology among banks, committing an enormous annual budget to areas like artificial intelligence, blockchain, and cloud infrastructure. AI is already embedded across hundreds of use cases, from fraud detection to trading and internal productivity tools such as its own generative AI suite. The bank is also experimenting with blockchain for settlements and digital‑asset‑linked products, while modernizing its core systems through hybrid cloud and strategic fintech acquisitions. This sustained investment deepens its moat by improving customer experience, lowering operating costs, and enabling differentiated products like advanced digital banking tools and platforms for startups and corporates. The key uncertainties are execution risk on such a large tech agenda, potential regulatory pushback around AI and digital assets, and the challenge of keeping legacy systems and cutting‑edge tools aligned over time.

Summary

Overall, JPMorgan shows a picture of a highly profitable, well‑capitalized global bank that has used the last several years to grow earnings, reinforce its balance sheet, and extend its technological edge. Its diversified business mix and strong brand underpin a wide competitive moat, while an ambitious innovation program aims to keep it ahead of both traditional peers and fintech challengers. At the same time, the firm remains tightly tied to the broader financial system: results will continue to be influenced by interest‑rate cycles, credit quality, regulation, and market volatility. For anyone assessing JPMorgan, the central themes are durable earnings power, a robust but complex balance sheet, and a deliberate bet that heavy, ongoing technology investment will be a key driver of future advantage as finance becomes increasingly digital.