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Earnings transcript
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JPM
JPMorgan Chase & Co.
$325.22
-8.24
(-2.47%)
| Exchange: | NYSE |
| Market Cap: | 871.431B |
| Shares Outstanding: | 144.776M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Banks – Diversified | |||||
| CEO: | James Dimon | |||||
| Full Time Employees: | 318477 | |||||
| Address: |
| |||||
| Website: | https://www.jpmorganchase.com |
Operating globally, JPMorgan Chase & Co. is a prominent financial services institution. Its business is organized into four main divisions: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The Consumer & Community Banking (CCB) division caters to individual consumers and small businesses. For consumers, it delivers deposit, investment, and lending products, along with payment services, including residential mortgages, home equity loans, credit cards, auto loans, and leasing. Small businesses receive lending, deposit, cash management, and payment solutions, in addition to mortgage origination and servicing. The Corporate & Investment Bank (CIB) segment delivers a broad spectrum of investment banking offerings. These encompass strategic and structural advisory, capital-raising for equity and debt markets, loan origination and syndication, international payments, and cross-border financing. It also deals with cash and derivative instruments, provides risk management solutions, prime brokerage, and research. Furthermore, CIB provides securities services, such as custody, fund accounting, administration, and securities lending, specifically for asset managers, insurers, and various public and private investment funds. Commercial Banking (CB) supplies financial remedies, including lending, payment processing, investment banking, and asset management, to small, large, and mid-sized businesses, local government entities, and non-profit organizations. It additionally specializes in commercial real estate banking for investors, developers, and owners of diverse property types, such as multifamily, office, retail, industrial, and affordable housing. The Asset & Wealth Management (AWM) segment provides multi-asset investment management services across equities, fixed income, alternative investments, and money market funds for both institutional and individual investors. Its offerings further extend to retirement products, brokerage services, custody, trusts and estates, various lending options (loans, mortgages), deposits, and comprehensive investment management products. Beyond its core segments, the firm also supports clients through ATM access, online and mobile banking platforms, and telephone banking services. Established in 1799, JPMorgan Chase & Co. maintains its headquarters in New York, New York.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 236,273,000 | 270,789,000 | 279,745,000 |
| Gross Profit | 145,670,000 | 158,785,000 | 167,607,000 |
| EBITDA | 69,124,000 | 83,019,000 | 81,416,000 |
| Operating Income | 61,612,000 | 75,081,000 | 72,595,000 |
| Net Income | 49,552,000 | 58,471,000 | 57,048,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 3,875,393,000 | 4,002,814,000 | 4,424,900,000 |
| Total Liabilities | 3,547,515,000 | 3,658,056,000 | 4,062,462,000 |
| Total Stockholders Equity | 327,878,000 | 344,758,000 | 362,438,000 |
| Total Debt | 653,072,000 | 751,146,000 | 499,982,000 |
| Cash and Cash Equivalents | 624,151,000 | 469,317,000 | 343,338,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 12,974,000 | -42,012,000 | 100,867,000 |
| Capital Expenditure | 0 | 0 | 0 |
| Free Cash Flow | 12,974,000 | -42,012,000 | 100,867,000 |
| Net Income | 49,552,000 | 58,471,000 | 56,780,000 |
| Net Change in Cash | 56,917,000 | -154,834,000 | -125,979,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 214,208,926.669 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 216,107,835.728 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 215,158,381.199 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 75,684,010.565 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 76,354,930.566 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 76,019,470.566 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 68,039,473.981 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 77,537,243.811 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 72,788,358.896 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 54,054,676.291 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 54,533,857.603 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 54,294,266.947 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 25.910 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 27.750 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 24.350 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 5 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 7 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: JPMorgan Chase reported a net income of $13 billion in Q4 2025, reflecting strong profitability as highlighted in the earnings call transcript. Key metrics such as return on equity (ROE) and net profit margin (TTM) indicate efficient capital utilization and sustained earnings growth compared to industry benchmarks.
- Solid Liquidity and Balance Sheet: High levels of cash and cash equivalents, coupled with a favorable current ratio (TTM) and quick ratio (TTM), demonstrate strong liquidity to meet short-term obligations. Total assets and stockholders’ equity from the balance sheet further underscore financial stability.
- Market Leadership and Scale: As a leading player in the banking industry within the financial services sector, JPMorgan Chase benefits from a large market capitalization and a vast operational footprint, supported by data on full-time employees and geographic revenue segments.
- Consistent Dividend Yield: A competitive dividend yield (TTM) and a history of net dividends paid (from cash flow statements) reinforce JPM’s attractiveness to income-focused investors, providing a reliable return amidst market volatility.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates JPM intrinsic value between $246.60 – $276.00 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about JPM valuation
Is JPMorgan Chase & Co. (JPM) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for JPMorgan Chase & Co. (JPM) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is JPM a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether JPM trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is JPM’s P/E ratio?
You can see JPM’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for JPM?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is JPM a good long-term investment?
Whether JPM fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
JPM
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Daily snapshot
-2.47
Trading Metrics:
| Open: | 336.95 | Previous Close: | 333.46 | |
| Day Low: | 324.17 | Day High: | 338.09 | |
| Year Low: | 272.11 | Year High: | 338.09 | |
| Price Avg 50: | 308.52 | Price Avg 200: | 306.97 | |
| Volume: | 20.024M | Average Volume: | 8.992M |
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Login — it's freeJPM full analysis
Hey everyone, and welcome back to the channel. Today we are diving deep into one of the most powerful and influential financial institutions on the planet. We’re talking about JPMorgan Chase, ticker symbol JPM. This isn’t just a quick look; this is a comprehensive, full-spectrum analysis where we’ll break down the company, its financials, the risks, the opportunities, and what the numbers tell us about the future. We’ve got a lot of ground to cover, so let’s jump right in.…
