JPMorgan Chase & Co. (JPM)
NYSE:JPM
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JPMorgan Chase
(NYSE:JPM)
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Rating:67Neutral
Price Target:
$328.00
â–²(6.50% Upside)
Action:ReiteratedDate:02/14/26
The score is driven primarily by strong profitability and a solid balance sheet, offset by weak/uncertain cash-flow quality. Earnings-call guidance supports the franchise outlook but points to near-term headwinds from higher 2026 expenses, Apple Card-related capital impacts, and rising card credit costs/regulatory risk. Technicals are a modest additional drag given weak momentum and price below key short/mid-term moving averages, while valuation is supportive with a moderate P/E and dividend.
Positive Factors
Diversified franchise and resilient revenue mix
JPMorgan’s revenue is meaningfully diversified across Consumer, Corporate & Investment Banking, Commercial and Asset & Wealth Management. This multi‑segment mix reduces single‑cycle exposure, helping stabilize earnings through market cycles and supporting durable fee and NII streams across business lines.
Negative Factors
Weak/volatile cash‑flow conversion
Reported zero operating and free cash flow in the trailing twelve months, after swings in prior years, signals inconsistent conversion of accounting earnings to cash. This hampers predictable capacity for buybacks, discretionary capital returns, and creates reliance on capital markets or retained earnings to fund investments and lending.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified franchise and resilient revenue mix
JPMorgan’s revenue is meaningfully diversified across Consumer, Corporate & Investment Banking, Commercial and Asset & Wealth Management. This multi‑segment mix reduces single‑cycle exposure, helping stabilize earnings through market cycles and supporting durable fee and NII streams across business lines.
Read all positive factors
JPMorgan Chase (JPM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$835.73B
Dividend Yield1.79%
Average Volume (3M)10.36M
Price to Earnings (P/E)15.8
Beta (1Y)1.19
Revenue Growth1.89%
EPS Growth12.32%
CountryUS
Employees318,477
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)4.63
Shares Outstanding2,697,032,500
10 Day Avg. Volume8,835,000
30 Day Avg. Volume10,360,071
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 Cap1.72
Enterprise Value/Revenue5.12
Enterprise Value/Gross Profit8.53
Enterprise Value/Ebitda17.62
Forecast
1Y Price Target
$337.00Price Target Upside9.43% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering20
EPS Forecast (FY)21.63
Revenue Forecast (FY)$195.10B
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 generates revenue through several key streams. The bulk of its income comes from net interest income, which arises from the interest earned on loans and securities minus the interest paid on deposits and borrowings. Additionally, th...
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:Jan 13, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 14, 2026
Earnings Call Sentiment Positive
The call conveyed solid underlying financial performance (quarterly revenue and earnings growth, strong AWM inflows, resilient consumer and CIB activity) and a healthy capital position, while also flagging near-term headwinds: meaningful expense growth for 2026 driven by strategic investments, one-time reserve and RWA impacts from the Apple Card transaction, elevated advanced RWA temporarily pressuring capital, and notable regulatory/policy risks (card rate cap discussion, stablecoin regulation) that could materially affect card economics. Management emphasizes investment for long-term franchise growth and expects modest NII and loan growth scenarios while warning of possible downside from policy changes.Positive Updates
Strong Quarterly and Full-Year Profitability
Reported Q4 net income of $13.0 billion and EPS of $4.63; ROTCE of 18%. Excluding significant items, full-year net income of $57.5 billion, EPS of $20.18 and ROTCE of 20%.
Negative Updates
Expense Growth and Investment-Driven Increase
Quarterly operating expenses of $24.0 billion, up 5% YoY. Management guides 2026 adjusted expenses to about $105 billion — roughly a $9 billion increase (≈+9% YoY) — driven by volume/revenue-related costs, compensation (including hiring), technology, real estate/office catch-up and targeted investments (including AI).
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Quarterly and Full-Year Profitability
Reported Q4 net income of $13.0 billion and EPS of $4.63; ROTCE of 18%. Excluding significant items, full-year net income of $57.5 billion, EPS of $20.18 and ROTCE of 20%.
Read all positive updates
Company Guidance
On the call JPMorgan guided to a 2026 net interest income (NII) profile of roughly $103 billion in total — implicitly about $95 billion ex‑markets with markets NII rising to roughly $8 billion — while forecasting adjusted operating expense of about $105 billion for 2026 and a 2026 card net charge‑off rate of approximately 3.4% (with an unfavorable delinquency trend); at quarter‑end standardized CET1 was 14.5% (down 30 bps), the Apple Card transaction drove about $23 billion of standardized RWA and roughly $110 billion of advanced RWA on close (expected to fall to ~ $30 billion), and the firm took a $2.2 billion NCCV reserve build related to that purchase; for context full‑year 2025 (ex significant items) net income was $57.5 billion, EPS $20.18, revenue $185 billion and ROTCE 20% (Q4 net income $13 billion, EPS $4.63, revenue $46.8 billion up 7% YoY, expenses $24 billion up 5% YoY, ROTCE 18%), with business highlights including DCP revenue $19.4 billion (+6% YoY) and debit/credit sales +7% YoY, CIB revenue $19.4 billion (+10% YoY; equities +40%, FICC +7%), AWM revenue $6.5 billion (+13% YoY) with pretax margin 38% and long‑term net inflows $52 billion in the quarter ($29 billion for the year), liquidity net inflows $105 billion qtr/$183 billion year and record client asset net inflows of $553 billion for 2025.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
307.97
Price Trends
298.03
Positive
304.31
Positive
300.15
Positive
Market Momentum
2.86
Negative
66.56
Neutral
93.63
Negative
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 307.97 is above the 20-day moving average (MA) of 291.89, above the 50-day MA of 298.03, and above the 200-day MA of 300.15, indicating a bullish trend. The MACD of 2.86 indicates Negative momentum. The RSI at 66.56 is Neutral, neither overbought nor oversold. The STOCH value of 93.63 is Negative, 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 |
|---|---|---|---|---|---|---|---|
69 Neutral | $282.89B | 16.54 | 15.45% | 2.14% | 7.22% | 48.18% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $835.73B | 15.75 | 15.95% | 1.79% | 1.89% | 12.32% | |
66 Neutral | $378.28B | 13.28 | 10.15% | 1.93% | 0.15% | 33.84% | |
64 Neutral | $267.80B | 16.00 | 13.81% | 1.55% | 2.31% | 44.49% | |
61 Neutral | $265.43B | 13.89 | 11.78% | 1.80% | -4.37% | 26.41% | |
58 Neutral | $218.52B | 21.83 | 6.71% | 1.94% | -0.62% | 105.57% |
* Financial Sector Average
JPM
JPMorgan Chase
309.87
78.18
33.74%
BAC
Bank of America
52.54
17.38
49.44%
C
Citigroup
124.39
64.31
107.05%
MS
Morgan Stanley
177.64
72.35
68.71%
WFC
Wells Fargo
85.40
24.22
39.59%
GS
Goldman Sachs Group
907.80
423.40
87.41%
JPMorgan Chase Corporate Events
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...
Business Operations and StrategyExecutive/Board ChangesDividendsFinancial Disclosures
JPMorgan Board Boosts CEO Jamie Dimon 2025 Pay
Positive
Jan 22, 2026
In January 2026, JPMorgan Chase’s independent directors approved a 2025 compensation package of $43 million for CEO Jamie Dimon, up from $39 million the prior year, citing his stewardship of the firm’s market‑leading franchises, ...
Private Placements and Financing
JPMorgan Chase Issues $6 Billion in New Debt
Positive
Jan 22, 2026
On January 22, 2026, JPMorgan Chase Co. completed public offerings totaling $6 billion in new debt, consisting of $400 million of floating rate notes due 2032, $2.6 billion of fixed-to-floating rate notes due 2032, and $3 billion of fixed-to-floa...
Financial DisclosuresRegulatory Filings and Compliance
JPMorgan Chase Reviews Q4 2025 Results in Investor Presentation
Neutral
Jan 13, 2026
On January 13, 2026, JPMorgan Chase Co. held an investor presentation to review its fourth-quarter 2025 earnings, supported by a deck of slides made available on its website in connection with the event. The materials were furnished rather than f...
Financial DisclosuresRegulatory Filings and Compliance
JPMorgan Chase Reviews Q4 2025 Results in Investor Presentation
Neutral
Jan 13, 2026
On January 13, 2026, JPMorgan Chase Co. held an investor presentation to review its fourth-quarter 2025 earnings, supported by a deck of slides made available on its website in connection with the event. The materials were furnished rather than f...
Executive/Board Changes
JPMorgan Chase Board Member Todd Combs Resigns
Neutral
Dec 8, 2025
On December 7, 2025, Todd A. Combs announced his resignation from the Board of Directors of JPMorgan Chase Co., effective immediately. His departure is not due to any disagreements with the company, indicating a smooth transition and continuity i...
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.