# JPMorgan Chase & Co. (JPM)

> Runs consumer and business banking, investment banking and trading, and investment management businesses under the Chase and J.P. Morgan names.

- Exchange: NYSE · Sector: Financials · Industry: Banks Diversified
- Headquarters: New York City, New York (knowledge)
- Founded: 2000
- Employees: 318,512
- SEC CIK: 0000019617 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000019617))
- Full page: https://inspectstocks.com/stocks/jpm
- Data as of: price 2026-09-25; newest filing used 2026-08-06; latest fiscal period ended 2026-06-30

## Grade

**A+** on the balance-sheet rubric used for lenders, 5 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | $65.1B |  |
| Earnings growing overall | passed | $65.1B | $47.8B |
| Earnings growing recently | passed | $65.1B | $57B |
| Earns well on its assets | passed | 1.3% |  |
| Book value per share growing | passed | $130.30 | $98.43 |

Business quality (the + / − mark): 6 of 7 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 32.6% |  |
| Healthy profit margin | passed | 32.6% |  |
| Good return on equity | passed | 18.0% |  |
| Debt under control | passed | 0.20 |  |
| Earns a wide spread on lending | failed | 2.3% |  |
| Runs the bank efficiently | passed | 51.4% |  |
| Credit losses well covered | passed | 6.6% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $199.4B |
| Net income, trailing twelve months | $65.1B |
| Net margin | 32.6% |
| Return on equity | 18.0% |
| Debt to equity | 0.20 |
| Diluted EPS, trailing twelve months | $23.35 |
| Share price | $343.06 |
| Market value | $911.9B |
| Price / earnings | 14.7x |
| Price / sales | 4.6x |

## What the business does

JPMorgan Chase takes deposits, makes loans, issues credit cards, and provides banking services to consumers and businesses. It also helps companies and governments raise money, trades financial products for clients, and manages investments for individuals and institutions.

### How it makes money

- **Commercial & Investment Bank** (47.4%) — Earns fees from advising companies and arranging stock and bond sales, and revenue from trading and lending to corporate, institutional, and government clients. The share is of the reported business-segment revenue mix, which does not reconcile to consolidated revenue.
- **Consumer & Community Banking** (39.7%) — Earns interest on consumer and small-business loans and credit-card balances, as well as fees and income from banking, card, and auto-leasing activities. The share is of the reported business-segment revenue mix, which does not reconcile to consolidated revenue.
- **Asset & Wealth Management** (12.9%) — Earns fees for managing investments and providing wealth services, along with revenue from client lending and brokerage activity. The share is of the reported business-segment revenue mix, which does not reconcile to consolidated revenue.

### Products

- **Chase consumer and small-business banking** — Bank accounts and related services for consumers and small businesses, provided through the Chase brand.
- **Chase credit cards** — Credit cards, including the Sapphire Preferred card, which the company said it refreshed in June 2026.
- **Auto leasing** — Vehicle leases for consumers; the company reported auto operating lease income in its consumer banking business.
- **Investment banking** — Advice on company deals and help arranging stock and bond sales, including initial public offerings.
- **Markets trading** — Trading in products such as bonds, currencies, stocks, and derivatives for clients.
- **Asset and wealth management** — Investment management and brokerage services for individuals and institutions.

### Customers

- Consumers and small businesses open accounts, use credit cards, borrow, and access banking services through Chase branches and digital channels.
- Companies use banking, lending, investment banking, and markets services to manage money, raise funds, and conduct transactions.
- Institutional investors use J.P. Morgan for trading, financing, and investment services.
- Government clients use banking, financing, and markets services.
- Individuals and institutions entrust money to the firm for investment management and wealth services.

### Competitors

- Bank of America (BAC) — Consumer and business banking, credit cards, corporate banking, and investment banking.
- Citigroup (C) — Consumer banking, corporate banking, payments, and investment banking.
- Wells Fargo (WFC) — Consumer and business banking, deposits, and lending.
- Goldman Sachs (GS) — Investment banking, markets trading, and investment management.
- Morgan Stanley (MS) — Investment banking, markets trading, and wealth management.

### What it depends on

- The business depends on customer deposits and other funding to support lending and other activities; rates and customer choices affect funding costs and balances.
- Its businesses depend on regulatory approvals and on meeting banking capital, liquidity, and other requirements.
- Banking, payments, and trading depend on operational systems, data, cybersecurity, and outside service providers.
- Lending and trading depend on customers and counterparties being able to meet their obligations and, in some transactions, on the value of collateral.

### What could go wrong

- Changes in banking rules, supervision, or required capital can increase compliance costs or constrain the firm’s activities; the 10-K also describes pending or changing regulatory proposals affecting capital and consumer fees.
- Economic and market changes can affect borrowers’ ability to repay, the value of financial instruments and collateral, deposit behavior, and fees from investment banking and trading.
- A failure or disruption of operational systems, or a successful cyberattack, could interrupt banking and transaction services or expose customer and firm data.

## More on this company

- [Overview](https://inspectstocks.com/stocks/jpm)
- [Financial statements](https://inspectstocks.com/stocks/jpm/financials)
- [Competitors](https://inspectstocks.com/stocks/jpm/peers)
- [Earnings](https://inspectstocks.com/stocks/jpm/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.