Latest revenue
$49.84B
as of 2026-03-31
Latest net income
$16.49B
as of 2026-03-31
Net margin
33.1%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $820.95B
- Enterprise value
- $1.32T
- P/E (trailing)
- 14.4×
- Forward P/E
- —
- P/B
- 2.26×
- Dividend yield
- 1.9%
- 52-wk high
- $337.25
- 52-wk low
- $260.31
- Beta
- —
- Shares out
- 2.68B
5-year trend
What this company does
JPMorgan Chase is the largest U.S. bank, offering consumer banking, credit cards, investment banking, trading, and asset management to retail customers, corporations, and institutions globally across roughly 4,800 branches and worldwide offices. It earns money primarily from net interest income on $1.5 trillion in loans and $2.6 trillion in deposits (about 51% of revenue), supplemented by trading, investment banking fees, and asset management fees on $4.8 trillion in AUM. The firm is operating from a position of dominance, posting Q1 2026 net income of $16.5 billion (up 13%), a 23% return on tangible equity, and the #1 global investment banking wallet share at 9.8%.
Key risks
- CET1 ratio fell to 14.3% from 15.4% YoY, signaling capital return/RWA growth pressuring the Firm's most-watched regulatory cushion.
- Nonperforming assets rose 10% to $10.0 billion; Card Services net charge-off rate hit 3.47% with consumer credit stress lingering from California wildfires.
- Noninterest expense jumped 14% to $26.9 billion, outpacing 10% revenue growth and compressing operating leverage as comp and investments accelerate.
Profitability
Net margin
31.3%
5.0%Return on equity
15.7%
11.7%Return on assets
21.1%
1345.7%Leverage
Debt / equity
-0.25×
102.3%Long-term debt / equity
1.20×
1.9%Debt / assets
-34.2%
137.2%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $49.84B | +10.0% | $16.49B | +12.6% | 33.1% |
Q4 2025 2025-12-31 | $45.80B | +7.1% | $13.03B | -7.0% | 28.4% |
Q3 2025 2025-09-30 | $46.43B | +8.8% | $14.39B | +11.6% | 31.0% |
Q2 2025 2025-06-30 | $44.91B | -10.5% | $14.99B | -17.4% | 33.4% |
Q1 2025 2025-03-31 | $45.31B | +8.1% | $14.64B | +9.1% | 32.3% |
Q4 2024 2024-12-31 | $42.77B | — | $14.01B | — | 32.7% |
Q3 2024 2024-09-30 | $42.65B | +7.0% | $12.90B | -1.9% | 30.2% |
Q2 2024 2024-06-30 | $50.20B | +21.5% | $18.15B | +25.4% | 36.2% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
National Commercial Banks · SIC 6021
Your notes
Keep private notes on JPM — thesis, target price, catalysts to watch.
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Insider activity
No insider transactions on file for JPM in the last 12 months.
Source: SEC Form 4 filings. Backfill runs nightly.
Who owns JPM
Institutional value
$136.16B
Total shares held
471.9M
Distinct holders
769
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 165.3M | $48.62B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 65.6M | $19.29B | — | New |
| 3 | WELLS FARGO & COMPANY/MN | 23.0M | $6.77B | — | New |
| 4 | DIMENSIONAL FUND ADVISORS LP | 19.0M | $5.58B | — | New |
| 5 | Legal & General Group Plc | 18.8M | $5.54B | — | New |
| 6 | VANGUARD FIDUCIARY TRUST CO | 14.1M | $4.15B | — | New |
| 7 | Invesco Ltd. | 12.3M | $3.63B | — | New |
| 8 | Boston Partners | 7.1M | $2.08B | — | New |
| 9 | BNP PARIBAS FINANCIAL MARKETS | 7.0M | $2.07B | — | New |
| 10 | Mitsubishi UFJ Asset Management Co., Ltd. | 6.2M | $1.83B | — | New |
| 11 | PNC Financial Services Group, Inc. | 5.7M | $1.66B | — | New |
| 12 | National Pension Service | 5.5M | $1.62B | — | New |
| 13 | Vanguard Global Advisers, LLC | 5.5M | $1.61B | — | New |
| 14 | VANGUARD ASSET MANAGEMENT, Ltd | 4.8M | $1.41B | — | New |
| 15 | RHUMBLINE ADVISERS | 4.6M | $1.36B | — | New |
| 16 | CIBC Bancorp USA Inc. | 4.4M | $1.29B | — | New |
| 17 | TD ASSET MANAGEMENT INC | 4.4M | $1.29B | — | New |
| 18 | STIFEL FINANCIAL CORP | 3.8M | $1.13B | — | New |
| 19 | CITIGROUP INC | 3.8M | $1.11B | — | New |
| 20 | Voya Investment Management LLC | 3.7M | $1.08B | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
CET1 dropped 110bps year-over-year to 14.3% while expenses grew 14% versus 10% revenue growth—where exactly is operating leverage breaking?
- 2
With NII ex-Markets up only 3% and rates falling, what's your 2026 NII trajectory if deposit betas don't compress as expected?
- 3
Allowance coverage fell to 1.82% from 1.94% despite nonperforming assets rising 10%—why is reserve release appropriate now?