JP Morgan Chase & Co. (JPM) stock analysis
Company overview and business model
Source fact: 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 & Community Banking, Commercial & Investment Bank, and Asset & Wealth Management. The company offers deposit, investment and lending products, and cash management; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, payment solutions, travel services, merchant offers, lifestyle benefits, auto loans, and leases to consumers and small businesses through bank branches, ATMs, and digital and telephone banking. It also provides investment banking, market-making, financing, custody, and securities products and services; corporate strategy and structure advisory, equity and debt market capital-raising, and loan origination and syndication services; cash and derivative instruments, risk management solutions, prime brokerage, clearing, and research; and fund services, liquidity and trading services, and data solutions products for large corporations, financial institutions, merchants, start-ups, small and midsized companies, local governments, municipalities, nonprofits, and commercial real estate clients. In addition, the company offers multi-asset investment management solutions in equities, fixed income, alternatives, and money market funds to institutional clients and retail investors; retirement products and services, estate planning, lending, deposits, and investment management products to high-net-worth clients; and financial transaction processing. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York.
Classification: NYSE · Financial Services · Banks - Diversified
Revenue and growth
Source fact: Revenue was USD 181.85 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +7.3% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 57.05 billion in the latest reported period.
Source metric: Reported net margin was 31.4%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 343.34 billion.
Source fact: Total debt was USD 499.98 billion.
Cash-flow analysis
Source fact: Operating cash flow was USD -147.78 billion.
Source fact: Free cash flow was USD -147.78 billion.
Valuation
Source metrics: Trailing P/E 15.06x; Forward P/E 14.06x; Price to book 2.64x; Price to sales 5.02x.
Caverian model output: Value score was 68/100.
Competitive position
Classification: Peer context: Banks - Diversified within Financial Services.
Caverian model output: Quality score was 67/100.
Caverian model limitation: Quality evidence was limited: 4 of 10 inputs were available (51% weighted coverage). Unavailable or not-meaningful inputs contributed a neutral 50, changing the raw 70 score to 67; further research is required.
Caverian model output: Growth score was 62/100.
Material risks
Caverian model interpretation: Watch out: limited Quality evidence (51% weighted coverage) — unavailable/NM inputs were averaged at neutral, changing the raw 70 score to 67; further research is required.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles