JPMorgan (NYSE: JPM) US$331.43
JPMorgan missed expectations mildly with stronger net interest income and equities trading largely offsetting a surprisingly weak result from fixed income.
JPMorgan Chase & Co (JPM US)
JPM US$337.34
20 minute delayed
14 days free access
Join Market Matters and get full access to all our Opinion + Action
Performance
Advanced charting functionality with the ability to amend timeframes, chart type & indicator selection, powered by TradingView.
Share price activity
Displays share price activity. Volume = number of shares traded, Turnover = value of shares traded, VWAP = volume-weighted average price for the day, sourced from Morningstar.
- Last (Price)
- 337.34
- Change
- ▼ -14.77 (-4.19)
- Bid / Ask
- 337.34 - 337.41
- Volume
- 3,926,507
- Turnover
- 1,105,581,307
- Open
- 358.84
- Day Range
- 336.00 - 359.78
- VWAP
- 338.36
- Prev Close
- 352.11
- Last Trade
- 05/11 7:00pm
Key information
Displays key information on the security, sourced from Morningstar.
- Sector
- Financial Services
- Shares Issued
- 2,658,186,195
- NTA/Share
- 110.52
- Last Dividend
- 1.65
- Dividend Ex Date
- 6 OCT 2026
- Dividend Pay Date
- 31 OCT 2026
Current (USD) · FY2025
Displays key financial data for the most recent fiscal year, in millions. Note - Per share data is in local currency terms irrespective of reporting currency, and may be different to the stated currency, sourced from Morningstar.
- Revenue
- 181,847.00
- EBITDA
- —
- Profit
- 55,681.00
- Earnings Per Share (EPS)
- 20.02
- Dividend Per Share (DPS)
- 5.80
- Yield %
- 1.75
- Market Cap
- 895,843.31
- Price to Earnings Ratio (P/E)
- 14.15
Estimates (USD) · FY2027
Displays consensus analyst’s estimates for key measures for the next fiscal year, sourced from Morningstar.
- Revenue
- 218,935.00
- EBITDA
- —
- Profit
- 68,879.60
- Earnings Per Share (EPS)
- 25.82
- Dividend Per Share (DPS)
- 6.91
Quantitative rating
Displays Morningstar’s Quantitative Equity Research Rating for the security: a star rating from 1 (overvalued) to 5 (undervalued) from the share price against a fair value estimated by a statistical model of Morningstar’s analyst ratings, with the model’s economic moat, financial health and fair value uncertainty, sourced from Morningstar.
Overvalued
- Economic Moat
- Wide
- Financial Health
- Moderate
- Uncertainty
- High
Morningstar Quantitative Rating as of 4 NOV 2026.
Quantitative Equity Rating Methodology – view here
Fair value estimate
Displays Morningstar’s quantitative fair value estimate for the security against the current share price, with the band around it: the five-star price below which the model would rate the stock five stars and the one-star price above which it would rate it one star, sourced from Morningstar.
Five-star price 266.21 Fair value 333.33 One-star price 417.36
Morningstar Quantitative Rating as of 4 NOV 2026.
Quantitative valuation
Displays where the share price sits in Morningstar’s quantitative fair value band, from the five-star price (undervalued) to the one-star price (overvalued), with the fair value estimate, the price to fair value ratio, the model’s valuation label and its uncertainty rating, sourced from Morningstar.
Buy
Sell
- Fair Value
- 333.33
- Price / Fair Value
- 1.06
- Valuation
- Overvalued
- Uncertainty
- High
Morningstar Quantitative Rating as of 4 NOV 2026. The slider runs from the five-star price (266.21) to the one-star price (417.36).
Displays useful ratios for the security, NB the pricing date used, sourced from Morningstar.
| Ratios |
|---|
| Currency (Price/reporting): USD/USD |
| Exchange Rate: 1.0000 |
Price, volume and trading statistics for the security, sourced from Morningstar.
| Price - closing or last bid | 337.98 |
| Price - 12 month high | 366.50 |
| Price - 12 month low | 279.10 |
| Pricing date | 3 NOV 2026 |
| Volume - avg. trading volume for the last ten days | 5.98 |
| Market capitalization | 935,066.66 |
| 12 Month High price date | 13 AUG 2026 |
| 12 Month Low price date | 12 MAR 2026 |
| Volume - avg. trading volume for the last 3 months | 6.88 |
| Price - 1 Day % Change | -0.76% |
| Price - 13 week price percent change | -4.16% |
| Price - 26 week price percent change | 8.16% |
| Price - 5 Day % Change | 0.65% |
| Price - 52 week price percent change | 9.25% |
| Price - YTD price percent change | 4.50% |
| Price % Change Month To Date | 1.68% |
Earnings, dividends, cash flow and book value per share, sourced from Morningstar.
| EPS excluding extraordinary items - most recent fiscal year | 20.020 |
| EPS excluding extraordinary items - trailing 12 month | 23.840 |
| EPS Normalized - most recent fiscal year | 19.729 |
| Revenue/share - most recent fiscal year | 65.377 |
| Revenue/share - trailing 12 month | 73.319 |
| Book value per share - most recent fiscal year | 126.988 |
| Book value per share - most recent quarter | 132.297 |
| Book value (tangible) per share - most recent fiscal year | 110.516 |
| Book value (tangible) per share - most recent quarter | 115.792 |
| Cash per share - most recent fiscal year | 127.338 |
| Cash per share - most recent quarter | 122.861 |
| Cash Flow per share - most recent fiscal year | 25.533 |
| Cash Flow per share - trailing 12 month | 28.957 |
| Dividend per share - most recent fiscal year | 5.800 |
| Dividends per share - trailing 12 month | 6.150 |
| EBITD per share - trailing 12 month | — |
| EPS Basic excluding extraordinary items - most recent fiscal year | 20.050 |
| EPS Basic excluding extraordinary items - trailing 12 month | 23.880 |
| EPS including extraordinary items - most recent fiscal year | 20.050 |
| EPS including extraordinary items - trailing 12 month | 23.880 |
| Free Cash Flow per share - trailing 12 month | 28.957 |
Valuation multiples such as P/E, price to sales, price to book and enterprise value ratios, sourced from Morningstar.
| P/E excluding extraordinary items, most recent fiscal year | 14.77 |
| P/E Normalized, most recent fiscal year | 15.67 |
| Price to sales - most recent fiscal year | 4.80 |
| Price to Tangible Book - most fiscal year | 3.26 |
| Price to Free Cash Flow per Share - most recent fiscal year | 12.16 |
| Price to Cash Flow per share - trailing 12 month | 12.16 |
| Price to Book - most recent fiscal year | 2.66 |
| P/E excluding extraordinary items high, trailing 12 months | 16.57 |
| P/E excluding extraordinary items low, trailing 12 months | 13.90 |
| Net Debt, LFI | 3,689,413.00 |
| Net Debt, LFY | 3,158,360.00 |
| Dividend Yield - 5 Year Average | 2.24% |
| Dividend Yield - indicated annual dividend divided by closing price | 1.81% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 1.75% |
Cash flow, liquidity and leverage measures, sourced from Morningstar.
| Free Cash Flow - most recent fiscal year | 71,019.00 |
| LT debt/equity - most recent fiscal year | — |
| Payout ratio - most recent fiscal year | 28.97% |
| Total debt/total equity - most recent fiscal year | 966.15% |
| LT debt/equity - most recent quarter | — |
| Total debt/total equity - most recent quarter | 1,078.42% |
| Free Cash Flow - trailing 12 month | 78,458.00 |
| Payout ratio - trailing 12 month | 25.81% |
Key income statement lines for the most recent fiscal year, in millions, sourced from Morningstar.
| Revenue - most recent fiscal year | 181,847.00 |
| Revenue - trailing 12 month | 198,653.00 |
| EBITD - most recent fiscal year | — |
| EBITD - trailing 12 month | — |
| Earnings before taxes - most recent fiscal year | 72,595.00 |
| Earnings before taxes - trailing 12 month | 85,289.00 |
| Net Income available to common - most recent fiscal year | 55,681.00 |
| Net Income available to common - trailing 12 months | 64,527.00 |
| Earnings before taxes Normalized - most recent fiscal year | 71,565.00 |
| Net Income Available to Common, Normalized - most recent fiscal year | — |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 22.47 |
Profitability margins for the most recent fiscal year, sourced from Morningstar.
| Net Profit Margin % - 1st historical fiscal year | 31.37% |
| Net Profit Margin % - trailing 12 month | 33.21% |
| Operating margin - 1st historical fiscal year | — |
| Operating margin - trailing 12 month | — |
| Pretax margin - trailing 12 month | 42.93% |
| Pretax margin - 1st historical fiscal year | 39.92% |
| Operating Margin - 5 year average | — |
| Pretax Margin - 5 year average | 41.82% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 46.46% |
| Free Operating Cash Flow/Revenue, TTM | 39.50% |
| Net Profit Margin - 5 year average | 33.42% |
Returns on average assets and equity for the fiscal year, the trailing 12 months and as 5 year averages, and net income and revenue per employee in whole currency, sourced from Morningstar.
| Return on average assets - most recent fiscal year | 1.30% |
| Return on average assets - trailing 12 month | 1.38% |
| Return on average equity - most recent fiscal year | 17.02% |
| Return on average equity - trailing 12 month | 19.05% |
| Return on average assets - 5 year average | 1.27% |
| Return on average equity - 5 year average | 17.38% |
| Net Income/employee - most recent fiscal year | 179,107.85 |
| Revenue/employee - most recent fiscal year | 570,926.68 |
Growth in revenue, earnings, dividends and book value over recent periods, sourced from Morningstar.
| Revenue growth rate, 5 year | 8.69% |
| EPS growth rate, 5 year | 17.66% |
| Growth rate% - dividend, 3 year | 13.19% |
| Revenue/share (5 yr growth) | 10.98% |
| Growth rate% - Revenue, 3 year | 12.50% |
| Growth rate% - EPS, 3 year | 18.31% |
| Book value per share growth rate, 5 year | 9.21% |
| Capital Spending growth rate, 5 year | — |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | — |
Displays analyst’s forecasts for key measures. The estimates can be expanded to see the spread of the calls. Full lines = reported, and dotted lines are forward estimates. Click a measure to add or remove it from the chart, sourced from Morningstar.
Financial forecast (USD, millions except per share)
| Actuals | Estimates | |||||||
| 2025 | 2026 | 2027 | 2028 | 2029 | ||||
| Estimate breakdown | ||||||||
Financial metrics can be plotted on the graph to see trends. Multiple metrics from multiple statements can be plotted against each other, sourced from Morningstar.
Financials (USD, millions)
| Period end: | DEC 21 | DEC 22 | DEC 23 | DEC 24 | DEC 25 |
| Fiscal year: | 2021 | 2022 | 2023 | 2024 | 2025 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Displays all company announcements released by the company to the exchange, sourced from Morningstar.
Announcements
Announcements are available for ASX-listed companies only.
Opinion
JP Morgan (JPM US) $US205.56
Banks are expensive, which is not a reason to sell in isolation, and they can stay that way if their operating metrics are improving (i.e. margins are expanding); however, when trends change, valuations can quickly revert. To put some simple numbers around this, JPM usually trades on a PE of 10.6x and a price to book, which measures its market capitalisation relative to the carrying value of its assets, of 1.6x. Right now, it’s on 11.9x and 1.8x, respectively. CBA generally trades on a PE of 18.2x and a price-to-book of 2.2x, and right now, it trades on 24.4x and 3.3x, respectively - its highest valuation ever!
JP Morgan (JPM US) $US147.68
The largest bank in the US by assets demonstrated a very impressive +35% surge in net income for the third quarter of 2023, they attributed the growth to higher interest rates and lower-than-expected loan losses compared to the previous year. The bank reported a substantial +22% jump in revenue, reaching an impressive $40.69 billion.
JP Morgan (JPM US) $US127.34
The first bank to report results overnight detailing how they handled an extraordinary quarter in markets. While fixed-income & trading revenue was very strong, JP Morgan is one of the biggest global players in the commodities markets and this cost them around ~$500m. The other area of weakness that should come as no surprise was in Investment Banking revenue, simply fewer deals completed due...
International Equities Portfolio
MM’s International portfolio fell -2.12% in tough / volatile week for stocks, not surprisingly Exxon Mobil (XOM US) was the standout performer while Zoom (ZM US) again frustrated us. We are still holding 9% in cash with 2 moves on our mind at present as we continue to look at ways to take advantage of the current market jitters, unfortunately Glencore (GLEN LN)...
JP Morgan (JPM US) $US159.26
JPM is tempting us considering both our large cash position and macro-economic view into Christmas. The stock looks great after its recent 13% correction, this would potentially be relatively short-term foray into the investment bank but a 10-15% return over 4-6 months is more attractive than cash in today’s low rate world.
JP Morgan (JPM US) $US153.51 – MM are selling from the International Equities Portfolio
MM has enjoyed a phenomenal run from JPM over the last 6-months but we believe the “easy money” is behind us from the banks and a decent pullback wouldn’t surprise.
Action
Updated
14/10/2026
09:31
JPM US
Updated 14/10/2026 09:31
MM is neutral JPM ~$US330
Updated
15/04/2025
10:03
JPM US
Updated 15/04/2025 10:03
MM is cautiously bullish JPM
Updated
11/09/2024
14:41
JPM US
Updated 11/09/2024 14:41
MM is now neutral on US banks ahead of rate cuts
Updated
17/10/2023
09:51
JPM US
Updated 17/10/2023 09:51
MM is neutral to cautious and bullish on JPM
Updated
14/04/2022
10:17
JPM US
Updated 14/04/2022 10:17
MM is neutral JPM
Updated
11/08/2021
09:42
JPM US
Updated 11/08/2021 09:42
MM is bullish JPM at current levels initially looking for 10-15% upside
Updated
17/03/2021
09:05
JPM US
Updated 17/03/2021 09:05
MM is selling JPM in the International Equities Portfolio above $US150.
Business Summary
JPMorgan Chase is a leading global financial-services firm with operations in 66 countries and nearly 323,000 employees as of September 2026. Under the JPMorgan brands, the bank holding company boasts a $5.1 trillion balance sheet and $2.78 trillion in deposits as of September 2026. The firm generates its revenue across three core operating segments: consumer and community banking, the commercial and investment bank, and asset and wealth management. It maintains the top global ranking in investment banking fees with an 8.4% market share, serves millions of consumers through its network of over 5,000 US branches, and manages nearly $7.9 trillion in client assets within its wealth and asset management franchise.
Relevant suggested news and content from the site
Video
WATCH
Webinar Recording: Are commodities entering a Supercycle?
Recorded Wednesday 24th June @ 12.30pm
Podcast
LISTEN
Thursday 11th September – Dow off -220pts, SPI off -20pts
Daily Podcast Direct from the Desk
Video
WATCH
Buy Hold Sell: The 6 income stocks readers love, plus 2 expert ideas
Recorded 10th June 2026
Podcast
LISTEN
Wednesday 10th September – Dow up +196pts, SPI down -4pts
Daily Podcast Direct from the Desk
