Jpmorgan Chase & Co (JPM)
Financials · Diversified Banks · US stock · S&P 500 component
$336.54
▲ +1.35 (0.40%)
Fair valueFair
$314 −6.6% to fair value
$157fair band $267–$381$471
Day's range
$332.26 – $336.62
52-week range
$279.10 – $366.50
About Jpmorgan Chase & Co
JPMorgan Chase is one of the largest banking groups in the United States, with consumer banking, investment banking, commercial banking and asset and wealth management businesses. It earns net interest income on loans and deposits, fees for advising on deals and underwriting securities, trading revenue, and charges for managing client assets. It also runs a large credit card business, and its results are tied to interest rates and economic conditions.
Across three years the company recorded growth of 12.3% a year. Profitability shows a return on invested capital of 44%. Shareholders receive a dividend, currently yielding 1.8%. The site's X-Ray Score for the company is 49 out of 100.
Price chart
52-wk range $279.10 – $366.50Volume 6,199,160Daily, split-adjusted
Vitals
Market cap$906.7B
52-week range$279.10 – $366.50
Volume (last day)6,199,160
P/E (TTM)14.2
EBIT / EV yield12.4%
Free-cash-flow yield–
Dividend yield1.8%
Revenue (TTM)$183.1B
Net income (TTM)$65.0B
Operating margin45.8%
Return on capital44.4%
Debt incl. leases$81.9B
Cash & securities$309.8B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$314middle half of models $278 – $338
Fair
−6.6% to fair value
Average of the 4 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $337
Undervalued < $267Fair $267 – $381Overvalued > $381
P/E multiple
$325
P/B multiple
$275
P/S multiple
$280
Dividend discount, stable
$378
Dividend discount, multi-stage · not used
$771
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Financials peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
42/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield12.4%
Fair value vs price0.9×
Growth
Weak
50/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)12.3%
EPS growth (3y)18.3%
Growth consistency80%
Profitability
Fair
54/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital44.4%
Operating margin45.8%
Financial health
Weak
48/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score2 / 9
Net debt / EBITDA-2.4×
Interest coverNo interest cost
Dividends
Fair
58/100
Dividend is typical for its sector.
See the numbers →
Dividend yield1.8%
Dividend growth7.0%
Quarterly results: last 6 quarters
+23.4%
Mar '25
+30.8%
Jun '25
+40.2%
Sep '25
+2.4%
Dec '25
+39.1%
Mar '26
+34.0%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $1.2B, diluted EPS $7.70.
Compare with peers
USB Us Bancorp De63 PNC Pnc Financial Services...49 BAC Bank Of America Corp48 WFC Wells Fargo & Company38Other Diversified Banks companies by X-Ray Score.
SWOT analysis: Jpmorgan Chase & Co
Strengthsinside the company
- Return on invested capital is 44.4%, against a median of 7.2% for industry peers.
- Revenue has grown 12.3% a year over three years (median 4.9% for industry peers).
- Earnings per share have compounded at 18.3% a year over three years.
- Cash exceeds debt (net debt is negative), which gives room to invest or ride out a downturn.
Weaknessesinside the company
- Passes only 2 of the 9 Piotroski tests, which shows weak or worsening financial trends.
Opportunitiesvaluation and setting
- Our Market Compass rates the backdrop for Financials as favourable.
Threatsvaluation and setting
- Revenue growth slowed to 2.8% last year from 12.3% a year over three years.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare JPM with peers and sector
Medians of 6 Diversified Banks peers and of 70 Financials stocks in our universe.
Largest peers (X-Ray Score): BAC 48, WFC 38, C 24, USB 63, PNC 49, TFC 38.
| Metric | JPM | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 49 | 43 | 50 |
| Valuation | 42 | 63 | 52 |
| Growth | 50 | 28 | 54 |
| Profitability | 54 | 38 | 48 |
| Financial health | 48 | 49 | 51 |
| Dividends | 58 | 52 | 54 |
Sector leaders: highest X-Ray Score in Financials
JPM ranks #40 of 71 in Financials and #3 of 7 in Diversified Banks by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for JPM
Each factor is rated by where JPM stands among the 71 Financials stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 3 Good · 3 Average · 2 Bad of 8
Growth: 2 · 0 · 1
Profitability: 1 · 1 · 0
Valuation: 0 · 2 · 1
| Factor | JPM | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +12.3% | Good beats 79% | +8.3% | – | – |
| Revenue growth, last year | +2.8% | Bad beats 17% | +6.9% | +5.8% | ▼ Worse |
| EPS growth, 3 years a year | +18.3% | Good beats 70% | +12.7% | – | – |
| Profitability | |||||
| Net margin | 35.5% | Good beats 85% | 21.8% | 31.4% | ▲ Better |
| Return on equity | 17.4% | Average beats 59% | 15.7% | 15.7% | ≈ In line |
| Valuation | |||||
| P/E ratio | 13.9x | Average beats 48% | 13.8x | 10.6x | ▼ Worse |
| Price / book | 2.4x | Average beats 44% | 2.2x | 1.6x | ▼ Worse |
| Price / sales | 5.0x | Bad beats 33% | 3.1x | 3.9x | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings), and banks and insurers are rated only on the factors that apply to them. A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 7 Good · ● 0 Average · ● 4 BadCash quality
Earnings backed by cashBad
Risk models
Piotroski F-ScoreBad
Growth
EPS growth (3y)Good
Revenue growth (3y)Good
Growth consistencyBad
Balance sheet
Net debt / EBITDAGood
Interest coverGood
Valuation
Fair value vs priceBad
EBIT / EV yieldGood
Profitability
Return on invested capitalGood
Operating marginGood
Each check is graded against the company's sector, not a fixed number. Checklist score 55/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $121.6B | $128.7B | $158.1B | $177.6B | $182.4B |
| Operating income | $65.1B | $72.3B | $142.9B | $75.1B | $72.6B |
| Net income | $48.3B | $37.7B | $49.6B | $58.5B | $57.0B |
| Operating cash flow | $78.1B | $107.1B | $13.0B | −$42.0B | −$147.8B |
| Operating margin | 53.5% | 56.2% | 90.4% | 42.3% | 39.8% |
| Free cash flow | – | – | – | – | – |
| Diluted EPS | $15.36 | $12.09 | $16.23 | $19.75 | $20.02 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
8 bullish · 4 neutral · 4 bearish
Weekly
Neutral
6 bullish · 1 neutral · 5 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 335.0 | Bullish |
| EMA 10 | 335.1 | Bullish |
| SMA 20 | 333.7 | Bullish |
| EMA 20 | 336.1 | Bullish |
| SMA 50 | 344.8 | Bearish |
| EMA 50 | 339.5 | Bearish |
| SMA 100 | 339.7 | Bearish |
| EMA 100 | 335.7 | Bullish |
| SMA 200 | 319.7 | Bullish |
| EMA 200 | 323.5 | Bullish |
Oscillators (daily)
| RSI (14) | 48.59 | Neutral |
| MACD (12, 26) | -2.11 | Bearish |
| Momentum (12) | 1.59 | Bullish |
| Stochastic %K (14) | 59.34 | Neutral |
| Williams %R (14) | -40.66 | Neutral |
| CCI (20) | 34.01 | Neutral |
Pivot points (classic, last session)
S3 329.3 | S2 330.8 | S1 333.7 | Pivot 335.1 | R1 338.0 | R2 339.5 | R3 342.4 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
6.15 USD
Yield on today's price
1.83%
Frequency
Quarterly
Next ex-dividend date
Not announced
| Ex-dividend date | Amount per share |
|---|---|
| 1.6500 | |
| 1.5000 | |
| 1.5000 | |
| 1.5000 | |
| 1.5000 | |
| 1.4000 | |
| 1.4000 | |
| 1.2500 | |
| 1.2500 | |
| 1.1500 | |
| 1.1500 | |
| 1.0500 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold JPM
| ETF | Share of the fund |
|---|---|
| XLF Financial Select Sector SPDR | 11.55% |
| IYF iShares U.S. Financials | 11.24% |
| VFH Vanguard Financials | 9.15% |
| KBWB Invesco KBW Bank | 7.47% |
| DIVO Amplify CWP Enhanced Dividend Income | 4.86% |
| DFLV Dimensional US Large Cap Value | 4.80% |
| DFUV Dimensional US Marketwide Value | 4.50% |
| USMC Principal U.S. Mega-Cap | 4.40% |
The eight funds with the largest weight in JPM among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
JPM stock splits
JPM has split its stock 2 times since 1998. The latest was a 3-for-2 split on 12 Jun 2000.
Full JPM stock split history →JPM SEC filings
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Results of operations
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Current report
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Results of operations
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.