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$341.10
Market Capi
$912B
Growth-adj P/E (3-yr hist)i
1.1x
Growth-adj P/E (3-yr proj)i
3.0x
P/S 26Ei
4.4x
P/S 28Ei
4.2x
P/B 26Ei
2.5x
P/B 28Ei
2.2x
P/E 26Ei
14x
P/E 28Ei
13x
P/S 26Ei
4.4x
P/B 26Ei
2.5x
P/E 26Ei
14x
P/S 28Ei
4.2x
P/B 28Ei
2.2x
P/E 28Ei
13x
Revenue
2026E
$197B
Gross Margini
n/a
Hist. CAGRi
11%
Proj. CAGRi
8.3%
EBIT
2026E
$91B
Op. Margini
52%
Hist. CAGRi
18%
Proj. CAGRi
5.4%
Net profit
2026E
$60B
Net Margini
34%
Hist. CAGRi
15%
Proj. CAGRi
4.3%
Business Model
Recent Developments
Average Targeti
$344.71+3%
Consensusi
Outperform
24 analysts covering
TBV/sharei
$106.48
Div. Yieldi
1.8%
Buyback Yldi
3.3%
Market Capi
$912B
P/E 26Ei
14x
Adj. P/E (fwd.)i
3.0x
Revenue 26E
$197B
Proj. CAGRi
8.3%
Gross Margini
—
EBIT 26E
$91B
Proj. CAGRi
5.4%
Op. Margini
52%
Net Profit 26E
$60B
Proj. CAGRi
4.3%
Net Margini
34%
Average Targeti
$344.71+3%
Consensusi
Outperform
24 analysts covering
Profile
JPMorgan Chase is one of the largest financial institutions in the world, operating across four major business lines:
Industry
JPMorgan serves a broad cross-section of customers: retail consumers and small businesses via its branch network, institutional investors through its asset management arm, and corporations ranging from mid-market to the world's largest multinationals through investment banking and commercial banking. Geographic split is heavily weighted toward the United States (roughly 77% of revenue), with the remainder split across EMEA, Asia-Pacific, and Latin America. The industry is highly regulated, capital-intensive, and benefits from meaningful scale advantages — larger banks can price more competitively on loans and underwriting while spreading fixed costs across more products.
Key metrics
Economic moat
JPMorgan's moat is a combination of scale, regulatory barriers, and network effects. Its size allows it to underwrite deals too large for most competitors and to absorb compliance costs that would cripple smaller institutions. The consumer branch network creates deposit stickiness — checking account holders rarely switch banks. In capital markets, a top-tier league table position in underwriting and M&A advisory is self-reinforcing: clients prefer advisors with the broadest distribution and deepest trading relationships. The fortress balance sheet also acts as a competitive advantage during stress periods, when smaller banks retreat and JPMorgan can expand market share.
Jamie Dimon
Dimon has led JPMorgan Chase since December 2005, steering the bank through the 2008 financial crisis, multiple acquisitions (Bear Stearns, Washington Mutual, First Republic), and two decades of consistent market share gains. Before JPMorgan, he served as CEO of Bank One, which JPMorgan acquired in 2004. His combined Chairman and CEO role gives him significant strategic control, and his annual shareholder letters are closely read across the investment community as a barometer for macro and regulatory conditions.
Jeremy Barnum
Barnum became CFO in May 2021 after nearly two decades at JPMorgan, primarily in the investment bank. His background is squarely in markets and investment banking, which informs the firm's capital allocation discipline and its approach to balance sheet sizing. He is JPMorgan's primary voice on financial guidance and capital return frameworks.
Daniel Pinto
Pinto joined the board in June 2025 and has long served as President and Chief Operating Officer, effectively running day-to-day operations and the corporate & investment bank. His ascent has been widely discussed as part of JPMorgan's internal succession planning, given Dimon's extended tenure and ongoing investor questions about long-term leadership continuity.
Other key figures
Lori Beer (CTO, since 2017) leads JPMorgan's large-scale technology and digital transformation efforts. Jennifer Piepszak has held senior finance roles since 2019 and has been involved in key consumer and payments strategy decisions alongside Barnum.
P/S Ratioi
P/B Ratioi
P/E Ratioi
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in billions of USD.
Margins
Returns & spread
Efficiency
Balance sheet
Values in trillions of USD.
Tangible book value
Capital & asset quality
Last earnings
Q1 2026, reported April 14, delivered revenue up 10% year-over-year to $49.8 billion, with both net interest income and noninterest revenue growing in double digits. Diluted EPS of $5.94 came in well above consensus estimates, representing 17% year-over-year growth.
The provision for credit losses dropped 24%, a standout improvement that lifted net income to $16.5 billion. Stable net charge-offs alongside improving credit costs suggest consumer balance sheets remain resilient.
Management guided for roughly $103 billion in full-year net interest income alongside adjusted expenses near $105 billion. The Apple Card portfolio acquisition and a potential Visa B-2 share tender gain were flagged as incremental tailwinds.
Recent developments
On May 27, 2026, CEO Jamie Dimon publicly disclosed that JPMorgan has capacity to deploy up to $20 billion on an acquisition — the largest potential deal of his two-decade tenure. Dimon framed M&A as a last resort rather than a strategic priority, emphasizing the bank's preference for organic growth.
The Apple Card portfolio acquisition is progressing and represents JPMorgan's most significant consumer credit card expansion in years, adding a high-profile branded partnership to its retail lending book.
The bank's balance sheet has scaled to $4.9 trillion in total assets with a CET1 ratio of 14.3%, leaving it well-capitalized under current regulatory requirements and with room for further capital return or deployment.
Debate & sentiment
Bulls point to JPMorgan's diversified revenue engine — investment banking fees, market revenues, and asset management all contributed to the Q1 beat, reducing dependence on the net interest margin trade that defined 2022–23 tailwinds.
Bears worry about credit normalization as the post-pandemic consumer credit cycle matures. Provisions are improving now, but elevated consumer debt loads could become a drag if unemployment rises or macro conditions deteriorate.
Dimon's $20 billion acquisition signal is dividing opinion: optimists see a bank with fortress capital and the confidence to grow inorganically; skeptics note large bank M&A faces intense regulatory scrutiny and that transformative deals at JPMorgan's scale historically carry execution risk.
Consensusi
Outperform
Average targeti
$344.71+3%
Highest targeti
$391.00+17%
Lowest targeti
$295.00-12%
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