JPMorgan Chase & Co. (JPM)
NYSE:JPM
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JPMorgan Chase
(NYSE:JPM)
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Rating:74Outperform
Price Target:
$351.00
â–²(13.12% Upside)
Action:ReiteratedDate:04/24/26
The score is driven by strong earnings power and improving balance-sheet metrics, reinforced by a constructive technical backdrop and reasonable valuation. It is capped primarily by weak/volatile reported cash flow figures and earnings-call risks around rising expenses, consumer credit costs, and increased regulatory capital requirements that could constrain returns and capital distribution.
Positive Factors
Diversified, profitable revenue base
JPMorgan's broad mix of businesses produced strong TTM revenue growth and high profitability metrics, indicating durable earnings power. Diversified income (consumer, CIB, markets, AWM) reduces reliance on any single cycle, supporting resilient core cash generation and cross‑sell opportunities over months to years.
Negative Factors
Weak cash flow conversion
Zero reported operating and free cash flow in the TTM and multi‑year volatility indicate inconsistent cash conversion, which undermines confidence in internal funding sustainability. Over 2–6 months this complicates capital allocation, making buybacks, dividends and investment pacing more dependent on volatile accounting and market cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified, profitable revenue base
JPMorgan's broad mix of businesses produced strong TTM revenue growth and high profitability metrics, indicating durable earnings power. Diversified income (consumer, CIB, markets, AWM) reduces reliance on any single cycle, supporting resilient core cash generation and cross‑sell opportunities over months to years.
Read all positive factors
JPMorgan Chase (JPM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$844.79B
Dividend Yield1.79%
Average Volume (3M)9.95M
Price to Earnings (P/E)12.4
Beta (1Y)1.15
Revenue Growth1.32%
EPS Growth2.47%
CountryUS
Employees318,477
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)5.94
Shares Outstanding2,697,032,500
10 Day Avg. Volume7,586,731
30 Day Avg. Volume9,945,945
Financial Highlights & Ratios
PEG Ratio10.39
Price to Book (P/B)2.48
Price to Sales (P/S)3.21
P/FCF Ratio8.91
Enterprise Value/Market Cap2.08
Enterprise Value/Revenue6.26
Enterprise Value/Gross Profit10.44
Enterprise Value/Ebitda21.56
Forecast
1Y Price Target
$337.71Price Target Upside8.84% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)22.22
Revenue Forecast (FY)$196.32B
JPMorgan Chase Business Overview & Revenue Model
Company Description
JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CC...
How the Company Makes Money
JPMorgan Chase makes money primarily by earning interest income on loans and securities and by generating fee-based and market-driven revenue across its banking, markets, and asset management franchises. (1) Net interest income: A core earnings dr...
JPMorgan Chase Key Performance Indicators (KPIs)
Any
Assets Under Management
Reflects the total market value of assets managed on behalf of clients, indicating the scale and influence of the firm's investment management operations.
Reflects the total market value of assets managed on behalf of clients, indicating the scale and influence of the firm's investment management operations.
Data provided by:
The Fly
The FlyJPMorgan Chase Earnings Call Summary
Earnings Call Date:Apr 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 14, 2026
Earnings Call Sentiment Positive
The call reported strong top‑line growth, solid trading and investment banking performance, robust asset and wealth inflows, and healthy profitability metrics (net income, EPS, ROTCE). Offsets included rising expenses, meaningful regulatory capital and RWA headwinds from proposed Basel III/G‑SIB changes (estimated to require significant incremental capital), modest CET1 pressure, and ongoing credit cost items. Management emphasized resilient consumer behavior, disciplined underwriting, and ongoing capital deployment to serve clients, while flagging regulatory and cyber/AI risks that could constrain returns or growth in specific areas.Positive Updates
Strong overall earnings and profitability
Net income of $16.5 billion, EPS of $5.94 and ROTCE of 23%; firm revenue of $50.5 billion, up 10% year‑on‑year.
Negative Updates
Expenses elevated and rising
Noninterest expenses of $26.9 billion were up 14% year‑on‑year, driven by higher compensation (revenue‑related comp and front office hiring), brokerage and distribution fees and the absence of a prior‑year FDIC special accrual release; adjusted expense outlook remains about $105 billion for 2026.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong overall earnings and profitability
Net income of $16.5 billion, EPS of $5.94 and ROTCE of 23%; firm revenue of $50.5 billion, up 10% year‑on‑year.
Read all positive updates
Company Guidance
Management reiterated full‑year 2026 guidance with net interest income ex‑Markets of about $95 billion and total NII of roughly $103 billion (Market NII falling to ~ $8 billion, largely offset in NIR), adjusted expense guidance of about $105 billion, a Card net charge‑off rate of ~3.4% and Card loan growth targeted around 6% (firmwide deposit growth expected low‑ to‑mid single digits); for context the quarter produced net income $16.5B, EPS $5.94, ROTCE 23%, revenue $50.5B, expenses $26.9B, credit costs $2.5B (net charge‑offs $2.3B, net reserve build $191M), CET1 14.3% (‑30 bps), standardized RWA +$60B, and management is planning for a G‑SIB surcharge of 5.2% by 2028 (up from 4.5%), implying roughly $20B of incremental G‑SIB capital.JPMorgan Chase Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 279.75B | 270.79B | 236.27B | 153.82B | 127.24B |
| Gross Profit | 167.61B | 158.78B | 145.67B | 121.39B | 130.91B |
| EBITDA | 81.42B | 83.02B | 69.12B | 53.22B | 67.49B |
| Net Income | 57.05B | 58.47B | 49.55B | 37.68B | 48.33B |
Balance Sheet | |||||
| Total Assets | 4.42T | 4.00T | 3.88T | 3.67T | 3.74T |
| Cash, Cash Equivalents and Short-Term Investments | 1.48T | 1.37T | 1.23T | 1.12T | 1.36T |
| Total Debt | 942.38B | 751.15B | 653.07B | 542.50B | 548.94B |
| Total Liabilities | 4.06T | 3.66T | 3.55T | 3.37T | 3.45T |
| Stockholders Equity | 362.44B | 344.76B | 327.88B | 292.33B | 294.13B |
Cash Flow | |||||
| Free Cash Flow | 100.87B | -42.01B | 12.97B | 107.12B | 78.08B |
| Operating Cash Flow | 100.87B | -42.01B | 12.97B | 107.12B | 78.08B |
| Investing Cash Flow | -514.21B | -163.40B | 67.64B | -137.82B | -129.34B |
| Financing Cash Flow | 269.53B | 63.45B | -25.57B | -126.26B | 275.99B |
JPMorgan Chase Technical Analysis
Positive
310.29
Price Trends
298.16
Positive
304.91
Positive
300.84
Positive
Market Momentum
4.72
Negative
62.05
Neutral
75.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JPM, the sentiment is Positive. The current price of 310.29 is above the 20-day moving average (MA) of 298.19, above the 50-day MA of 298.16, and above the 200-day MA of 300.84, indicating a bullish trend. The MACD of 4.72 indicates Negative momentum. The RSI at 62.05 is Neutral, neither overbought nor oversold. The STOCH value of 75.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JPM.
JPMorgan Chase Risk Analysis
JPMorgan Chase disclosed 43 risk factors in its most recent earnings report. JPMorgan Chase reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
JPMorgan Chase Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $844.79B | 12.43 | 16.32% | 1.79% | 1.32% | 2.47% | |
72 Outperform | $383.67B | 10.30 | 10.50% | 1.93% | -1.96% | 20.90% | |
71 Outperform | $301.40B | 11.46 | 16.66% | 2.14% | 16.38% | 29.43% | |
70 Outperform | $272.51B | 11.41 | 14.57% | 1.55% | -1.70% | 26.98% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | $251.64B | 11.96 | 12.04% | 1.80% | 1.28% | 16.35% | |
64 Neutral | $219.47B | 8.51 | 7.53% | 1.94% | 3.02% | 27.75% |
* Financial Sector Average
JPM
JPMorgan Chase
313.23
71.05
29.34%
BAC
Bank of America
53.46
14.17
36.08%
C
Citigroup
127.98
61.57
92.70%
MS
Morgan Stanley
190.59
76.58
67.17%
WFC
Wells Fargo
82.23
11.95
17.00%
GS
Goldman Sachs Group
923.77
381.18
70.25%
JPMorgan Chase Corporate Events
Business Operations and StrategyPrivate Placements and Financing
JPMorgan Chase Issues $10 Billion in New Debt
Positive
Apr 23, 2026
On April 23, 2026, JPMorgan Chase Co. closed a series of registered public debt offerings totaling $10 billion across multiple tranches of floating rate and fixed-to-floating rate notes maturing between 2030 and 2037. The issuance, supported by a...
Financial DisclosuresRegulatory Filings and Compliance
JPMorgan Chase Reviews First-Quarter 2026 Earnings Outlook
Neutral
Apr 14, 2026
On April 14, 2026, JPMorgan Chase Co. held an investor presentation to review its first quarter 2026 earnings, supported by a slide deck made available on its website. The materials were furnished, rather than filed, under securities regulations,...
Business Operations and StrategyRegulatory Filings and Compliance
JPMorgan Chase Hosts Investor Company Update and Outlook
Neutral
Feb 23, 2026
On February 23, 2026, JPMorgan Chase Co. held a Company Update presentation for investors, featuring a firm overview, line-of-business discussions, and question-and-answer sessions with senior leaders including Chairman and CEO Jamie Dimon. The e...
Private Placements and FinancingRegulatory Filings and Compliance
JPMorgan Chase completes $3 billion subordinated notes offering
Positive
Feb 5, 2026
On February 5, 2026, JPMorgan Chase Co. completed a public offering of $3 billion in Fixed-to-Floating Rate Subordinated Notes due 2037, which were issued under an existing shelf registration statement filed with U.S. securities regulators. As pa...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.