JPMorgan Chase (JPM) revenue and profit, from its SEC filings
Every figure below is as JPMorgan Chase & Co. filed it with the U.S. Securities and Exchange Commission in its annual (10-K) and quarterly (10-Q) reports. Latest filing: 10-Q filed August 6, 2026.
In short
JPMorgan Chase is the largest bank in the United States by assets. Its revenue is net interest income — what it earns on loans and securities minus what it pays on deposits and borrowing — plus fees from investment banking, asset management, cards and trading.
A bank's statements are built differently from a manufacturer's: there is no cost of goods, so no gross profit, and money moving through the bank makes 'free cash flow' meaningless as a measure. Those rows are left empty here rather than filled with a number that would mislead.
Revenue went from $121.6B in fiscal 2021 to $182.4B in fiscal 2025 — growth of 10.7% a year on average.
In fiscal 2025 it was 2.8% higher than the year before.
JPMorgan Chase kept 31.3% of its revenue as net profit in fiscal 2025, against 39.7% in fiscal 2021.
In its latest quarter (Q2 FY2026, to June 30, 2026) revenue was $57.3B, 27.7% more than a year earlier.
Revenue and profit by year
| Period | Revenue | Operating income | Net income | Net margin | Total debt | Cash |
|---|---|---|---|---|---|---|
| FY2025 to December 31, 2025 | $182.4B | — | $57.0B | 31.3% | $64.8B | $21.7B |
| FY2024 to December 31, 2024 | $177.6B | — | $58.5B | 32.9% | $52.9B | $23.4B |
| FY2023 to December 31, 2023 | $158.1B | — | $49.6B | 31.3% | $44.7B | $29.1B |
| FY2022 to December 31, 2022 | $128.7B | — | $37.7B | 29.3% | $44.0B | $27.7B |
| FY2021 to December 31, 2021 | $121.6B | — | $48.3B | 39.7% | $53.6B | $26.4B |
The latest quarters
| Period | Revenue | Operating income | Net income | Net margin | Total debt | Cash |
|---|---|---|---|---|---|---|
| Q2 FY2026 to June 30, 2026 | $57.3B | — | $21.2B | 36.9% | $72.4B | $24.7B |
| Q1 FY2026 to March 31, 2026 | $49.8B | — | $16.5B | 33.1% | $68.0B | $22.0B |
| Q4 FY2025 to December 31, 2025 | $45.8B | — | $13.0B | 28.4% | $64.8B | $21.7B |
| Q3 FY2025 to September 30, 2025 | $46.4B | — | $14.4B | 31.0% | $69.4B | $21.8B |
| Q2 FY2025 to June 30, 2025 | $44.9B | — | $15.0B | 33.4% | $65.3B | $23.8B |
A quarter is taken as filed where the report states it; otherwise it is the year-to-date figure minus the one before it, which is how the fourth quarter (never filed on its own) is found.
What to watch in JPMorgan Chase's statements
- Net interest income, which rises and falls with interest rates.
- Net income against revenue, which absorbs the provisions it sets aside for loans that may go bad.
- Revenue from investment banking and trading, the most volatile part of the total.
How to read these figures
- Revenue vs profit — why the top line and the bottom line tell different stories.
- Reading an earnings report — where these figures come from each quarter.
- How to read a company — what to look at first.
- P/E and its traps — and why this page shows no P/E: it needs the share price, which our licences keep inside the app.
Source: the company's filings with the U.S. Securities and Exchange Commission (EDGAR). Free cash flow is operating cash flow minus capital expenditure; total debt adds long-term debt (current and non-current), commercial paper and short-term borrowings, each as filed. A dash means the company did not file that line for the period. No share price, market value or estimate appears here: those are licensed market data, shown to members in the app.
Other companies
Questions
What was JPMorgan Chase's revenue in fiscal 2025?
JPMorgan Chase reported revenue of $182.4B for fiscal 2025, the year that ended on December 31, 2025, in its annual report (10-K) filed with the SEC.
Is JPMorgan Chase profitable?
Yes. It reported net income of $57.0B in fiscal 2025, a net margin of 31.3% — 31 cents kept as profit from every dollar of revenue.
Has JPMorgan Chase made a profit every year?
In each of the 5 fiscal years shown (fiscal 2021 to 2025), it reported a net profit.
How much debt does JPMorgan Chase have?
At the end of fiscal 2025 it reported $64.8B of debt — long-term debt, including the part due within a year, plus commercial paper and short-term borrowings as filed — against $21.7B of cash and cash equivalents.
Why is there no gross profit or free cash flow for JPMorgan?
A bank has no cost of goods sold, so gross profit does not exist in its statements, and because deposits and loans flow through its cash-flow statement, free cash flow does not measure what it does for other companies. The filed revenue and net income are the right place to start.
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