JPMorgan Chase & Co.JPM
NYSE•Financial Services•Banks - Diversified
JPMorgan Chase & Co. operates as a bank and financial holding company in the United States, rest of North America, Europe, the Middle East, Africa, the Asia Pacific, Latin America, and the Caribbean. It operates in three segments: Consumer & Community Banking, Commercial & Investment Bank, and Asset & Wealth Management. The company offers deposit, investment and lending products, and cash management; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, payment solutions, travel services, merchant offers, lifestyle benefits, auto loans, and leases to consumers and small businesses through bank branches, ATMs, and digital and telephone banking. It also provides investment banking, market-making, financing, custody, and securities products and services; corporate strategy and structure advisory, equity and debt market capital-raising, and loan origination and syndication services; cash and derivative instruments, risk management solutions, prime brokerage, clearing, and research; and fund services, liquidity and trading services, and data solutions products for large corporations, financial institutions, merchants, start-ups, small and midsized companies, local governments, municipalities, nonprofits, and commercial real estate clients. In addition, the company offers multi-asset investment management solutions in equities, fixed income, alternatives, and money market funds to institutional clients and retail investors; retirement products and services, estate planning, lending, deposits, and investment management products to high-net-worth clients; and financial transaction processing. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York.
JP Morgan Chase & Co. (JPM) reported trailing twelve months revenue of $285.12B as of March 2026, a 1.3% increase year-over-year. Quarterly revenue reached $73.66B, reflecting continued top-line momentum.
JP Morgan Chase & Co. generated $58.90B in TTM net income, with quarterly EBITDA of $22.84B. The operating margin expanded from 26.7% to 27.8%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (27.8%) and net margin (22.4%) indicates moderate non-operating costs. Net margin has improved from 21.3% a year ago, signaling stronger bottom-line efficiency.
JPM trades at a P/E of 13.1x (below the broader market average) and a P/S of 2.7x. The price-to-book ratio of 2.1x reflects a moderate premium to book value.
The company reported negative free cash flow of $-211.76B, indicating cash consumption over the period. The balance sheet shows $4.90T in total assets with $448.76B in long-term debt against $364.04B in stockholders equity for a debt-to-equity ratio of 1.2. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are positive at ~26.6% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 16.2% suggests a durable competitive advantage and efficient capital allocation.
Only 4 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
TTM revenue has grown consistently (6 of 7 quarters up), with ~7.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~26.2% — no sign of cost or pricing stress.
Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.
D/E ratio is 1.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Shares decreased 6.0% — net buybacks are reducing shares outstanding and boosting per-share value.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation