Jpmorgan Chase Financials

JPM

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Jpmorgan Chase (JPM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

2/9

Jpmorgan Chase passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

-2.59x

For every $1 of reported earnings, Jpmorgan Chase generates $-2.59 in operating cash flow (-$147.8B OCF vs $57.0B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$182.4B

YoY+2.8%

5Y CAGR+8.7%

10Y CAGR+6.9%

Jpmorgan Chase generated $182.4B in revenue in fiscal year 2025. This represents an increase of 2.8% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$57.0B

YoY-2.4%

5Y CAGR+14.4%

10Y CAGR+8.8%

Jpmorgan Chase reported $57.0B in net income in fiscal year 2025. This represents a decrease of 2.4% from the prior year.

EPS (Diluted)

$20.02

YoY+1.4%

5Y CAGR+17.7%

10Y CAGR+12.8%

Jpmorgan Chase earned $20.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1.4% from the prior year.

Cash & Debt

$343.3B

YoY-26.8%

5Y CAGR-8.2%

10Y CAGR-0.5%

Jpmorgan Chase held $343.3B in cash against $74K in long-term debt as of fiscal year 2025.

Dividends Per Share

$5.80

YoY+20.8%

5Y CAGR+10.0%

10Y CAGR+12.9%

Jpmorgan Chase paid $5.80 per share in dividends in fiscal year 2025. This represents an increase of 20.8% from the prior year.

Shares Outstanding

2.70B

YoY-3.5%

5Y CAGR-2.4%

10Y CAGR-3.0%

Jpmorgan Chase had 2.70B shares outstanding in fiscal year 2025. This represents a decrease of 3.5% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

31.3%

YoY-1.7pp

5Y CAGR+7.0pp

10Y CAGR+5.1pp

Jpmorgan Chase's net profit margin was 31.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.7 percentage points from the prior year.

Return on Equity

15.7%

YoY-1.2pp

5Y CAGR+5.3pp

10Y CAGR+5.9pp

Jpmorgan Chase's ROE was 15.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$31.6B

YoY+67.8%

5Y CAGR+37.1%

10Y CAGR+18.9%

Jpmorgan Chase spent $31.6B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 67.8% from the prior year.

Capital Expenditures

N/A

JPM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$182.4B+2.8%	$177.6B+12.3%	$158.1B+22.9%	$128.7B+5.8%	$121.6B+1.4%	$120.0B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$97.9B-3.4%	$101.3B+24.6%	$81.3B+211.6%	$26.1B+370.0%	$5.6B-44.2%	$10.0B
Income Tax	$15.5B-6.4%	$16.6B+37.7%	$12.1B+42.0%	$8.5B-24.4%	$11.2B+68.0%	$6.7B
Net Income	$57.0B-2.4%	$58.5B+18.0%	$49.6B+31.5%	$37.7B-22.1%	$48.3B+65.9%	$29.1B
EPS (Diluted)	$20.02+1.4%	$19.75+21.7%	$16.23+34.2%	$12.09-21.3%	$15.36+73.0%	$8.88

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$45.8B-1.4%	$46.4B+3.4%	$44.9B-0.9%	$45.3B+5.9%	$42.8B+0.3%	$42.7B-15.0%	$50.2B+19.7%	$41.9B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$23.8B-6.5%	$25.5B+1.8%	$25.0B+6.2%	$23.6B-2.6%	$24.2B-10.3%	$27.0B+4.8%	$25.8B+5.8%	$24.4B
Income Tax	$4.1B-4.9%	$4.3B+31.9%	$3.3B-12.4%	$3.8B+11.7%	$3.4B-17.4%	$4.1B-22.8%	$5.3B+36.4%	$3.9B
Net Income	$13.0B-9.5%	$14.4B-4.0%	$15.0B+2.3%	$14.6B+4.6%	$14.0B+8.6%	$12.9B-28.9%	$18.1B+35.2%	$13.4B
EPS (Diluted)	$4.64-8.5%	$5.07-3.2%	$5.24+3.4%	$5.07+5.2%	$4.82+10.3%	$4.37-28.6%	$6.12+37.8%	$4.44

JPM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$4.4T+10.5%	$4.0T+3.3%	$3.9T+5.7%	$3.7T-2.1%	$3.7T+10.6%	$3.4T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$343.3B-26.8%	$469.3B-24.8%	$624.2B+10.0%	$567.2B-23.4%	$740.8B+40.4%	$527.6B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$52.7B+0.3%	$52.6B-0.1%	$52.6B+1.9%	$51.7B+2.7%	$50.3B+2.2%	$49.2B
Total Liabilities	$4.1T+11.1%	$3.7T+3.1%	$3.5T+5.2%	$3.4T-2.2%	$3.4T+11.1%	$3.1T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$74K	N/A	N/A	N/A	N/A	N/A
Total Equity	$362.4B+5.1%	$344.8B+5.1%	$327.9B+12.2%	$292.3B-0.6%	$294.1B+5.3%	$279.4B
Retained Earnings	$416.1B+10.6%	$376.2B+13.0%	$332.9B+12.3%	$296.5B+8.9%	$272.3B+14.9%	$237.0B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$4.4T-3.0%	$4.6T+0.2%	$4.6T+4.5%	$4.4T+8.9%	$4.0T-4.9%	$4.2T+1.6%	$4.1T+1.3%	$4.1T
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$343.3B+13.2%	$303.4B-27.8%	$420.3B-1.3%	$425.9B-9.3%	$469.3B+8.1%	$434.3B-18.2%	$530.8B-5.6%	$562.1B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$52.7B0.0%	$52.7B-0.1%	$52.7B+0.2%	$52.6B+0.1%	$52.6B-0.3%	$52.7B+0.2%	$52.6B0.0%	$52.6B
Total Liabilities	$4.1T-3.3%	$4.2T+0.1%	$4.2T+4.7%	$4.0T+9.5%	$3.7T-5.3%	$3.9T+1.6%	$3.8T+1.3%	$3.8T
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$270.7B	N/A	$269.9B-1.7%	$274.5B+2.5%	$267.9B+1.7%	$263.4B-1.1%	$266.2B-0.8%	$268.4B
Total Equity	$362.4B+0.6%	$360.2B+0.9%	$356.9B+1.6%	$351.4B+1.9%	$344.8B-0.3%	$345.8B+1.6%	$340.6B+1.2%	$336.6B
Retained Earnings	$416.1B+2.1%	$407.4B+2.5%	$397.4B+2.8%	$386.6B+2.8%	$376.2B+2.8%	$366.0B+2.5%	$356.9B+4.2%	$342.4B

JPM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$147.8B-251.8%	-$42.0B-423.8%	$13.0B-87.9%	$107.1B+37.2%	$78.1B+197.7%	-$79.9B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$265.6B-62.5%	-$163.4B-341.6%	$67.6B+149.1%	-$137.8B-6.6%	-$129.3B+50.6%	-$261.9B
Financing Cash Flow	$269.5B+324.8%	$63.4B+348.1%	-$25.6B+79.7%	-$126.3B-145.7%	$276.0B-53.7%	$596.6B
Dividends Paid	$16.6B+12.5%	$14.8B+9.8%	$13.5B-0.7%	$13.6B+5.5%	$12.9B+1.3%	$12.7B
Share Buybacks	$31.6B+67.8%	$18.8B+91.7%	$9.8B+210.7%	$3.2B-82.8%	$18.4B+182.5%	$6.5B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$119.7B+364.8%	-$45.2B-253.0%	$29.5B+111.7%	-$251.8B-270.4%	$147.8B+299.5%	-$74.1B-292.6%	$38.5B+125.0%	-$154.2B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$46.9B+320.0%	-$21.3B+87.7%	-$173.1B-46.6%	-$118.1B-770.1%	$17.6B+140.6%	-$43.4B+53.9%	-$94.2B-117.2%	-$43.4B
Financing Cash Flow	-$123.6B-158.6%	-$47.8B-138.9%	$122.8B-61.4%	$318.1B+374.9%	-$115.7B-1176.7%	$10.7B-60.5%	$27.2B-80.7%	$141.2B
Dividends Paid	$4.4B+5.7%	$4.2B-0.6%	$4.2B+10.0%	$3.8B-0.9%	$3.9B+5.6%	$3.7B-3.2%	$3.8B+8.1%	$3.5B
Share Buybacks	$8.3B-0.3%	$8.3B+10.5%	$7.5B-0.3%	$7.5B+75.0%	$4.3B-32.4%	$6.4B+19.2%	$5.3B+88.4%	$2.8B

JPM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	31.3%-1.7pp	32.9%+1.6pp	31.3%+2.1pp	29.3%-10.4pp	39.7%+15.4pp	24.3%
Return on Equity	15.7%-1.2pp	17.0%+1.8pp	15.1%+2.2pp	12.9%-3.5pp	16.4%+6.0pp	10.4%
Return on Assets	1.3%-0.2pp	1.5%+0.2pp	1.3%+0.3pp	1.0%-0.3pp	1.3%+0.4pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	11.21+0.6	10.61-0.2	10.82-0.7	11.54-0.2	11.73+0.6	11.12
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	28.4%-2.6pp	31.0%-2.4pp	33.4%+1.1pp	32.3%-0.4pp	32.8%+2.5pp	30.2%-5.9pp	36.1%+4.1pp	32.0%
Return on Equity	3.6%-0.4pp	4.0%-0.2pp	4.2%+0.0pp	4.2%+0.1pp	4.1%+0.3pp	3.7%-1.6pp	5.3%+1.3pp	4.0%
Return on Assets	0.3%-0.0pp	0.3%0.0pp	0.3%0.0pp	0.3%-0.0pp	0.4%+0.0pp	0.3%-0.1pp	0.4%+0.1pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	11.21-0.5	11.66-0.1	11.75+0.4	11.40+0.8	10.61-0.6	11.170.0	11.17+0.0	11.15
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Jpmorgan Chase's annual revenue?

Jpmorgan Chase (JPM) reported $182.4B in total revenue for fiscal year 2025. This represents a 2.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Jpmorgan Chase's revenue growing?

Jpmorgan Chase (JPM) revenue grew by 2.8% year-over-year, from $177.6B to $182.4B in fiscal year 2025.

Is Jpmorgan Chase profitable?

Yes, Jpmorgan Chase (JPM) reported a net income of $57.0B in fiscal year 2025, with a net profit margin of 31.3%.

What is Jpmorgan Chase's earnings per share (EPS)?

Jpmorgan Chase (JPM) reported diluted earnings per share of $20.02 for fiscal year 2025. This represents a 1.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Jpmorgan Chase have?

As of fiscal year 2025, Jpmorgan Chase (JPM) had $343.3B in cash and equivalents against $74K in long-term debt.

What is Jpmorgan Chase's net profit margin?

Jpmorgan Chase (JPM) had a net profit margin of 31.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Jpmorgan Chase pay dividends?

Yes, Jpmorgan Chase (JPM) paid $5.80 per share in dividends during fiscal year 2025.

What is Jpmorgan Chase's return on equity (ROE)?

Jpmorgan Chase (JPM) has a return on equity of 15.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Jpmorgan Chase's operating cash flow?

Jpmorgan Chase (JPM) generated -$147.8B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Jpmorgan Chase's total assets?

Jpmorgan Chase (JPM) had $4.4T in total assets as of fiscal year 2025, including both current and long-term assets.

Does Jpmorgan Chase buy back shares?

Yes, Jpmorgan Chase (JPM) spent $31.6B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Jpmorgan Chase have outstanding?

Jpmorgan Chase (JPM) had 2.70B shares outstanding as of fiscal year 2025.

What is Jpmorgan Chase's debt-to-equity ratio?

Jpmorgan Chase (JPM) had a debt-to-equity ratio of 11.21 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Jpmorgan Chase's return on assets (ROA)?

Jpmorgan Chase (JPM) had a return on assets of 1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Jpmorgan Chase's cash runway?

Based on fiscal year 2025 data, Jpmorgan Chase (JPM) had $343.3B in cash against an annual operating cash burn of $147.8B. This gives an estimated cash runway of approximately 28 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Jpmorgan Chase's Piotroski F-Score?

Jpmorgan Chase (JPM) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Jpmorgan Chase's earnings high quality?

Jpmorgan Chase (JPM) has an earnings quality ratio of -2.59x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.