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JPMorgan Chase
(NYSE:JPM)
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Rating:77Outperform
Price Target:
$378.00
â–²(21.82% Upside)
Action:Reiterated
Date:06/26/26
Overall score reflects strong financial performance and clear technical uptrend as the primary positives. The main constraints are higher balance-sheet leverage and cash-flow volatility, plus earnings-call risks tied to rising expenses, regulatory capital/RWA headwinds, and elevated consumer credit costs. Valuation is reasonable but not a standout, with a modest dividend yield.
Positive Factors
Diversified revenue scale & profitability
JPMorgan's large, diversified franchises have driven durable top‑line expansion and sustained profitability. Scale across CIB, CCB and AWM produces recurring fees and trading income, supporting consistent net margins and record net income that underpin long‑term earnings resilience.
Negative Factors
Rising leverage reduces flexibility
Material increase in leverage weakens balance‑sheet optionality and raises funding sensitivity. Higher debt‑to‑equity amplifies downside in stressed markets, constrains risk appetite, and can increase funding costs, making the firm more susceptible to macro shocks and regulatory constraints.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue scale & profitability
JPMorgan's large, diversified franchises have driven durable top‑line expansion and sustained profitability. Scale across CIB, CCB and AWM produces recurring fees and trading income, supporting consistent net margins and record net income that underpin long‑term earnings resilience.
Read all positive factors
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 (JPM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$896.22B
Dividend Yield1.79%
Average Volume (3M)9.29M
Price to Earnings (P/E)16.0
Beta (1Y)1.08
Revenue Growth1.33%
EPS Growth2.47%
CountryUS
Employees316,864
SectorFinancial
Sector Strength70
IndustryBanks - Diversified
Share Statistics
EPS (TTM)20.92
Shares Outstanding2,679,511,500
10 Day Avg. Volume10,284,242
30 Day Avg. Volume9,289,692
Financial Highlights & Ratios
PEG Ratio10.58
Price to Book (P/B)2.48
Price to Sales (P/S)3.21
P/FCF Ratio8.91
Enterprise Value/Market Cap2.02
Enterprise Value/Revenue6.37
Enterprise Value/Gross Profit10.46
Enterprise Value/Ebitda21.65
Forecast
1Y Price Target
$344.85Price Target Upside11.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering15
EPS Forecast (FY)22.57
Revenue Forecast (FY)$197.52B
JPMorgan Chase Business Overview & Revenue Model
Company Description
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 & Commu...
How the Company Makes Money
JPMorgan Chase makes money primarily by earning interest income and collecting fees across its banking, markets, and asset/wealth management franchises, with additional revenue from trading and investing activities.
1) Net interest income (spread...
JPMorgan 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
74
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 285.09B | 279.75B | 270.79B | 236.27B | 153.82B | 127.24B |
| Gross Profit | 173.52B | 167.61B | 158.78B | 145.67B | 121.39B | 130.91B |
| EBITDA | 83.82B | 81.42B | 83.02B | 69.12B | 53.22B | 67.49B |
| Net Income | 58.90B | 57.05B | 58.47B | 49.55B | 37.68B | 48.33B |
Balance Sheet | ||||||
| Total Assets | 4.90T | 4.42T | 4.00T | 3.88T | 3.67T | 3.74T |
| Cash, Cash Equivalents and Short-Term Investments | 1.86T | 1.48T | 1.37T | 1.23T | 1.12T | 1.36T |
| Total Debt | 1.23T | 942.38B | 751.15B | 653.07B | 542.50B | 548.94B |
| Total Liabilities | 4.54T | 4.06T | 3.66T | 3.55T | 3.37T | 3.45T |
| Stockholders Equity | 364.04B | 362.44B | 344.76B | 327.88B | 292.33B | 294.13B |
Cash Flow | ||||||
| Free Cash Flow | 140.94B | 100.87B | -42.01B | 12.97B | 107.12B | 78.08B |
| Operating Cash Flow | 140.94B | 100.87B | -42.01B | 12.97B | 107.12B | 78.08B |
| Investing Cash Flow | -613.91B | -514.21B | -163.40B | 67.64B | -137.82B | -129.34B |
| Financing Cash Flow | 352.15B | 269.53B | 63.45B | -25.57B | -126.26B | 275.99B |
JPMorgan Chase Technical Analysis
Positive
310.29
Price Trends
312.61
Positive
305.39
Positive
306.77
Positive
Market Momentum
6.86
Negative
63.64
Neutral
39.71
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 below the 20-day moving average (MA) of 324.41, below the 50-day MA of 312.61, and above the 200-day MA of 306.77, indicating a bullish trend. The MACD of 6.86 indicates Negative momentum. The RSI at 63.64 is Neutral, neither overbought nor oversold. The STOCH value of 39.71 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 44 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $896.22B | 15.99 | 16.32% | 1.79% | 1.33% | 2.47% | |
73 Outperform | $337.43B | 19.22 | 16.38% | 2.14% | 16.32% | 29.43% | |
72 Outperform | $416.78B | 14.36 | 10.50% | 1.93% | -1.69% | 20.90% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $301.20B | 18.42 | 14.58% | 1.55% | 2.63% | 26.98% | |
65 Neutral | $240.04B | 17.06 | 7.53% | 1.94% | 3.02% | 27.74% | |
65 Neutral | $261.68B | 12.96 | 12.04% | 1.80% | 1.28% | 16.35% |
* Financial Sector Average
JPM
JPMorgan Chase
334.47
42.72
14.64%
BAC
Bank of America
58.73
10.84
22.65%
C
Citigroup
139.97
53.22
61.34%
MS
Morgan Stanley
213.93
73.19
52.00%
WFC
Wells Fargo
85.51
3.70
4.53%
GS
Goldman Sachs Group
1,021.00
311.60
43.92%
JPMorgan Chase Corporate Events
Business Operations and StrategyExecutive/Board Changes
JPMorgan Names New Co-Presidents in Leadership Transition
Positive
Jun 25, 2026
On June 25, 2026, JPMorgan Chase Co. named Commercial Investment Bank Co-CEOs Doug Petno and Troy Rohrbaugh as Co-Presidents of the firm, effective immediately, while Petno becomes sole CEO of the Commercial Investment Bank and Rohrbaugh takes ...
Business Operations and StrategyRegulatory Filings and Compliance
JPMorgan Highlights Capital Structure and Regulatory Disclosure Focus
Neutral
Jun 24, 2026
On June 24, 2026, JPMorgan Chase Co. announced a press release addressing its common stock and regulatory capital matters, signaling continued attention to capital structure and compliance under the Securities Exchange Act of 1934. The disclosure...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
JPMorgan Releases 2026 Dodd-Frank Stress Test Results
Neutral
Jun 24, 2026
On June 24, 2026, JPMorgan Chase Co. released the results of its company-run 2026 Dodd-Frank Act Stress Test for both the consolidated firm and JPMorgan Chase Bank, National Association. The disclosure, furnished via a Form 8-K, is explicitly not...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
JPMorgan Chase Expands 2030 Fixed-to-Floating Notes Offering
Positive
Jun 2, 2026
On June 2, 2026, JPMorgan Chase Co. completed a $500 million public offering of Fixed-to-Floating Rate Notes due 2030, adding to the $2.75 billion of identical notes it originally issued on April 23, 2026. The new issuance, registered under the S...
Business Operations and Strategy
JPMorgan Chase to Redeem Series KK Preferred Stock
Neutral
May 27, 2026
On May 27, 2026, JPMorgan Chase Co. announced it will redeem all $2.0 billion of its 3.65% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series KK, on June 1, 2026. The 200,000 preferred shares are represented by 2,000,000 depositary shares, e...
Business Operations and StrategyShareholder Meetings
JPMorgan Shareholders Back Board, Pay, and Governance Approach
Positive
May 21, 2026
JPMorgan Chase held its Annual Meeting of Shareholders on May 19, 2026, with 85.17% of outstanding shares represented, and shareholders elected all 11 director nominees, each receiving at least 92.37% of votes cast, underscoring strong support for...
Private Placements and FinancingRegulatory Filings and Compliance
JPMorgan Issues New Series PP Preferred Stock
Positive
May 7, 2026
On May 7, 2026, JPMorgan Chase Co. issued 300,000 shares of its 6.100% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series PP, each with a $10,000 liquidation preference, which were deposited to back 3,000,000 depositary shares, each represen...
Business Operations and StrategyRegulatory Filings and Compliance
JPMorgan Chase Tightens Governance With Amended Corporate Bylaws
Neutral
Apr 24, 2026
On April 21, 2026, JPMorgan Chase Co.’s board of directors approved amendments to the company’s by-laws, specifically updating the advancement provisions in Article IX.The revisions require that any advancement of fees or expenses to ...
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,...
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.