JPMorgan Chase Operating Margin vs. Net Income

JPM Stock  USD 298.33  12.46  4.01%   
Based on the measurements of profitability obtained from JPMorgan Chase's financial statements, JPMorgan Chase Co may not be well positioned to generate adequate gross income at this time. It has a very high probability of underperforming in March. Profitability indicators assess JPMorgan Chase's ability to earn profits and add value for shareholders.

JPMorgan Chase Operating Profit Margin

0.16

At this time, JPMorgan Chase's Price To Sales Ratio is very stable compared to the past year. As of the 23rd of February 2026, Operating Cash Flow Sales Ratio is likely to grow to 0.38, while EV To Sales is likely to drop 3.00. At this time, JPMorgan Chase's Net Income Per Share is very stable compared to the past year. As of the 23rd of February 2026, Income Quality is likely to grow to 1.87, while Total Other Income Expense Net is likely to drop (11.5 B). As of the 23rd of February 2026, Gross Profit is likely to grow to about 176.6 B, while Pretax Profit Margin is likely to drop 0.16.
Current ValueLast YearChange From Last Year 10 Year Trend
Gross Profit Margin0.520.6001
Fairly Down
Pretty Stable
For JPMorgan Chase profitability analysis, we use financial ratios and fundamental drivers that measure the ability of JPMorgan Chase to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well JPMorgan Chase Co utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between JPMorgan Chase's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of JPMorgan Chase Co over time as well as its relative position and ranking within its peers.

JPMorgan Chase's Revenue Breakdown by Earning Segment

Check out Risk vs Return Analysis.
The next projected EPS of JPMorgan Chase is estimated to be 5.32 with future projections ranging from a low of 5.0165 to a high of 5.88. JPMorgan Chase's most recent 12-month trailing earnings per share (EPS TTM) is at 20.01. Please be aware that the consensus of earnings estimates for JPMorgan Chase Co is based on EPS before non-recurring items and includes expenses related to employee stock options.
 
Dot-com Bubble
 
Housing Crash
 
Credit Downgrade
 
Yuan Drop
 
Covid
 
Interest Hikes
JPMorgan Chase is projected to generate 5.32 in earnings per share on the 31st of March 2026. JPMorgan Chase earnings estimates show analyst consensus about projected JPMorgan Chase Co EPS (Earning Per Share). It derives the highest and the lowest estimates based on JPMorgan Chase's historical volatility. Many public companies, such as JPMorgan Chase, manage the perception of their earnings on a regular basis to make sure that analyst estimates are accurate. Future earnings calculations are also an essential input when attempting to value a firm.

JPMorgan Chase Revenue Breakdown by Earning Segment

By analyzing JPMorgan Chase's earnings estimates, investors can diagnose different trends across JPMorgan Chase's analyst sentiment over time as well as compare current estimates against different timeframes.
Will Diversified Banks sector continue expanding? Could JPMorgan diversify its offerings? Factors like these will boost the valuation of JPMorgan Chase. Expected growth trajectory for JPMorgan significantly influences the price investors are willing to assign. Accurate valuation requires analyzing both current fundamentals and future growth trajectories. Every JPMorgan Chase data point contributes insight, yet successful analysis hinges on identifying the most consequential variables.
Quarterly Earnings Growth
(0.04)
Dividend Share
5.8
Earnings Share
20.01
Revenue Per Share
60.592
Quarterly Revenue Growth
0.025
The market value of JPMorgan Chase is measured differently than its book value, which is the value of JPMorgan that is recorded on the company's balance sheet. Investors also form their own opinion of JPMorgan Chase's value that differs from its market value or its book value, called intrinsic value, which is JPMorgan Chase's true underlying value. Seasoned market participants apply comprehensive analytical frameworks to derive fundamental worth and identify mispriced opportunities. Because JPMorgan Chase's market value can be influenced by many factors that don't directly affect JPMorgan Chase's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Understanding that JPMorgan Chase's value differs from its trading price is crucial, as each reflects different aspects of the company. Evaluating whether JPMorgan Chase represents a sound investment requires analyzing earnings trends, revenue growth, technical signals, industry dynamics, and expert forecasts. Meanwhile, JPMorgan Chase's quoted price indicates the marketplace figure where supply meets demand through bilateral consent.

JPMorgan Chase Net Income vs. Operating Margin Fundamental Analysis

Comparative valuation techniques use various fundamental indicators to help in determining JPMorgan Chase's current stock value. Our valuation model uses many indicators to compare JPMorgan Chase value to that of its competitors to determine the firm's financial worth.
JPMorgan Chase Co is rated third overall in operating margin category among its peers. It is currently regarded as number one stock in net income category among its peers making up about  138,285,435,947  of Net Income per Operating Margin. At this time, JPMorgan Chase's Operating Profit Margin is very stable compared to the past year. Comparative valuation analysis is a catch-all technique that is used if you cannot value JPMorgan Chase by discounting back its dividends or cash flows. It compares the stock's price multiples to nearest competition to determine if the stock is relatively undervalued or overvalued.

JPMorgan Net Income vs. Operating Margin

Operating Margin shows how much operating income a company makes on each dollar of sales. It is one of the profitability indicators which helps analysts to understand whether the firm is successful or not making money from everyday operations.

JPMorgan Chase

Operating Margin

 = 

Operating Income

Revenue

X

100

 = 
0.41 %
A good Operating Margin is required for a company to be able to pay for its fixed costs or payout its debt, which implies that the higher the margin, the better. This ratio is most effective in evaluating the earning potential of a company over time when comparing it against a firm's competitors.
Net income is the profit of a company for the reporting period, which is derived after taking revenues and gains and subtracting all expenses and losses. Net income is one of the most-watched numbers by money managers as well as individual investors.

JPMorgan Chase

Net Income

 = 

(Rev + Gain)

-

(Exp + Loss)

 = 
56.78 B
Because income is reported on the Income Statement of a company and is measured in dollars some investors prefer to use Profit Margin, which measures income as a percentage of sales.

JPMorgan Net Income Comparison

JPMorgan Chase is currently under evaluation in net income category among its peers.

JPMorgan Chase Profitability Projections

The most important aspect of a successful company is its ability to generate a profit. For investors in JPMorgan Chase, profitability is also one of the essential criteria for including it into their portfolios because, without profit, JPMorgan Chase will eventually generate negative long term returns. The profitability progress is the general direction of JPMorgan Chase's change in net profit over the period of time. It can combine multiple indicators of JPMorgan Chase, where stable trends show no significant progress. An accelerating trend is seen as positive, while a decreasing one is unfavorable. A rising trend means that profits are rising, and operational efficiency may be rising as well. A decreasing trend is a sign of poor performance and may indicate upcoming losses.
Last ReportedProjected for Next Year
Accumulated Other Comprehensive Income-4.3 B-4.1 B
Operating Income72.6 B76.2 B
Net Income56.8 B59.6 B
Income Tax Expense15.5 B16.3 B
Income Before Tax72.6 B76.2 B
Total Other Income Expense Net-11 B-11.5 B
Net Income Applicable To Common Shares55.7 B58.5 B
Net Income From Continuing Ops57 B36.4 B
Net Interest Income95.4 B70.3 B
Interest Income193.3 B110.6 B
Change To Netincome26.7 B28.1 B
Net Income Per Share 20.46  21.48 
Income Quality 1.78  1.87 
Net Income Per E B T 0.79  0.61 

JPMorgan Profitability Driver Comparison

Profitability drivers are factors that can directly affect your investment outlook on JPMorgan Chase. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of JPMorgan Chase position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the JPMorgan Chase's important profitability drivers and their relationship over time.

JPMorgan Chase Earnings Estimation Breakdown

The calculation of JPMorgan Chase's earning per share is based on the data from the past 12 consecutive months, used for reporting the company's financial figures. The next projected EPS of JPMorgan Chase is estimated to be 5.32 with the future projection ranging from a low of 5.0165 to a high of 5.88. Please be aware that this consensus of annual earnings estimates for JPMorgan Chase Co is based on EPS before non-recurring items and includes expenses related to employee stock options.
Last Reported EPS
4.63
5.02
Lowest
Expected EPS
5.32
5.88
Highest

JPMorgan Chase Earnings Projection Consensus

Suppose the current estimates of JPMorgan Chase's value are higher than the current market price of the JPMorgan Chase stock. In this case, investors may conclude that JPMorgan Chase is overpriced and will exhibit bullish sentiment. On the other hand, if the present value is lower than the stock price, analysts may conclude that the market undervalues the equity. These scenarios may suggest that the market is not as efficient as it should be at the estimation time, and JPMorgan Chase's stock will quickly adjusts to the new information provided by the consensus estimate.
Number of AnalystsHistorical AccuracyLast Reported EPSEstimated EPS for 31st of March 2026Current EPS (TTM)
2689.24%
4.63
5.32
20.01

JPMorgan Chase Earnings History

Earnings estimate consensus by JPMorgan Chase analysts from Wall Street is used by the market to judge JPMorgan Chase's stock performance. Investors also use these earnings estimates to evaluate and project the stock performance into the future in order to make their investment decisions. However, we suggest analyzing not only JPMorgan Chase's upcoming profit reports and earnings-per-share forecasts but also comparing them to our different valuation methods.

JPMorgan Chase Quarterly Gross Profit

41.14 Billion

At this time, JPMorgan Chase's Retained Earnings are very stable compared to the past year. As of the 23rd of February 2026, Earnings Yield is likely to grow to 0.07, while Earning Assets are likely to drop about 1.6 T. As of the 23rd of February 2026, Net Income Applicable To Common Shares is likely to grow to about 58.5 B, while Common Stock Shares Outstanding is likely to drop about 2.5 B.
Hype
Prediction
LowEstimatedHigh
308.99310.61312.23
Details
Intrinsic
Valuation
LowRealHigh
279.78328.99330.61
Details
Naive
Forecast
LowNextHigh
301.25302.88304.50
Details
25 Analysts
Consensus
LowTargetHigh
313.51344.52382.42
Details
Note that many institutional investors and large investment bankers can move markets due to the volume of JPMorgan assets they manage. They also follow analysts to some degree and often drive overall investor sentiments towards JPMorgan Chase. With so many stockholders watching consensus numbers, the difference between actual and projected earnings is one of the most critical factors driving JPMorgan Chase's stock price in the short term.

JPMorgan Chase Earnings per Share Projection vs Actual

Actual Earning per Share of JPMorgan Chase refers to what the company shows during its earnings calls or quarterly reports. The Expected EPS is what analysts covering JPMorgan Chase Co predict the company's earnings will be in the future. The higher the earnings per share of JPMorgan Chase, the better is its profitability. While calculating the Earning per Share, we use the weighted ratio, as the number of shares outstanding can change over time.

JPMorgan Chase Estimated Months Earnings per Share

For an investor who is primarily interested in generating an income out of investing in entities such as JPMorgan Chase, the EPS ratio can tell if the company is intending to increase its current dividend. Although EPS is an essential tool for investors, it should not be used in isolation. EPS of JPMorgan Chase should always be considered in relation to other companies to make a more educated investment decision.

JPMorgan Quarterly Analyst Estimates and Surprise Metrics

Earnings surprises can significantly impact JPMorgan Chase's stock price both in the short term and over time. Negative earnings surprises usually result in a price decline. However, it has been seen that positive earnings surprises lead to an immediate rise in a stock's price and a gradual increase over time. This is why we often hear news about some companies beating earning projections. Financial analysts spend a large amount of time predicting earnings per share (EPS) along with other important future indicators. Many analysts use forecasting models, management guidance, and additional fundamental information to derive an EPS estimate.
Reported
Fiscal Date
Estimated EPS
Reported EPS
Surprise
2026-01-13
2025-12-314.824.63-0.19
2025-10-14
2025-09-304.875.070.2
2025-07-15
2025-06-304.474.960.4910 
2025-04-11
2025-03-314.645.070.43
2025-01-15
2024-12-314.044.810.7719 
2024-10-11
2024-09-303.994.370.38
2024-07-12
2024-06-305.096.121.0320 
2024-04-12
2024-03-314.134.440.31
2024-01-12
2023-12-313.63.04-0.5615 
2023-10-13
2023-09-303.964.330.37
2023-07-14
2023-06-3044.750.7518 
2023-04-14
2023-03-313.414.10.6920 
2023-01-13
2022-12-313.13.570.4715 
2022-10-14
2022-09-302.853.120.27
2022-07-14
2022-06-302.92.76-0.14
2022-04-13
2022-03-312.712.63-0.08
2022-01-14
2021-12-313.033.330.3
2021-10-13
2021-09-3033.550.5518 
2021-07-13
2021-06-303.173.780.6119 
2021-04-14
2021-03-313.064.591.5350 
2021-01-15
2020-12-312.653.070.4215 
2020-10-13
2020-09-302.243.090.8537 
2020-07-14
2020-06-301.211.08-0.1310 
2020-04-14
2020-03-312.22.890.6931 
2020-01-14
2019-12-312.362.570.21
2019-10-15
2019-09-302.452.680.23
2019-07-16
2019-06-302.492.820.3313 
2019-04-12
2019-03-312.352.650.312 
2019-01-15
2018-12-312.191.98-0.21
2018-10-12
2018-09-302.262.340.08
2018-07-13
2018-06-302.222.290.07
2018-04-13
2018-03-312.292.26-0.03
2018-01-12
2017-12-311.691.760.07
2017-10-12
2017-09-301.661.760.1
2017-07-14
2017-06-301.591.710.12
2017-04-13
2017-03-311.511.650.14
2017-01-13
2016-12-311.421.580.1611 
2016-10-14
2016-09-301.391.580.1913 
2016-07-14
2016-06-301.431.550.12
2016-04-13
2016-03-311.261.350.09
2016-01-14
2015-12-311.261.320.06
2015-10-13
2015-09-301.371.32-0.05
2015-07-14
2015-06-301.441.540.1
2015-04-14
2015-03-311.411.450.04
2015-01-14
2014-12-311.321.19-0.13
2014-10-14
2014-09-301.381.620.2417 
2014-07-15
2014-06-301.31.460.1612 
2014-04-11
2014-03-311.41.28-0.12
2014-01-14
2013-12-311.331.40.07
2013-10-11
2013-09-301.281.420.1410 
2013-07-12
2013-06-301.451.60.1510 
2013-04-12
2013-03-311.381.590.2115 
2013-01-16
2012-12-311.211.390.1814 
2012-10-12
2012-09-301.231.40.1713 
2012-07-13
2012-06-300.821.210.3947 
2012-04-13
2012-03-311.171.310.1411 
2012-01-13
2011-12-310.910.9-0.01
2011-10-13
2011-09-300.911.020.1112 
2011-07-14
2011-06-301.21.270.07
2011-04-13
2011-03-311.161.280.1210 
2011-01-14
2010-12-311.011.120.1110 
2010-10-13
2010-09-300.91.010.1112 
2010-07-15
2010-06-300.741.090.3547 
2010-04-14
2010-03-310.640.740.115 
2010-01-15
2009-12-310.610.740.1321 
2009-10-14
2009-09-300.530.820.2954 
2009-07-16
2009-06-300.060.280.22366 
2009-04-16
2009-03-310.30.40.133 
2009-01-15
2008-12-310.01-0.28-0.292900 
2008-10-15
2008-09-30-0.29-0.060.2379 
2008-07-17
2008-06-300.440.540.122 
2008-04-16
2008-03-310.650.680.03
2008-01-16
2007-12-310.910.86-0.05
2007-10-17
2007-09-300.90.970.07
2007-07-18
2007-06-301.081.20.1211 
2007-04-18
2007-03-311.021.230.2120 
2007-01-17
2006-12-310.941.010.07
2006-10-18
2006-09-300.860.910.05
2006-07-19
2006-06-300.870.920.05
2006-04-19
2006-03-310.830.860.03
2006-01-18
2005-12-310.730.730.0
2005-10-19
2005-09-300.720.750.03
2005-07-20
2005-06-300.650.660.01
2005-04-20
2005-03-310.70.810.1115 
2005-01-19
2004-12-310.690.64-0.05
2004-10-20
2004-09-300.740.6-0.1418 
2004-07-21
2004-06-300.830.850.02
2004-04-21
2004-03-310.870.920.05
2004-01-21
2003-12-310.770.890.1215 
2003-10-22
2003-09-300.760.780.02
2003-07-16
2003-06-300.620.890.2743 
2003-04-16
2003-03-310.50.690.1938 
2003-01-22
2002-12-31-0.07-0.070.0
2002-10-16
2002-09-300.070.160.09128 
2002-07-17
2002-06-300.650.58-0.0710 
2002-04-17
2002-03-310.530.570.04
2002-01-16
2001-12-310.350.12-0.2365 
2001-10-17
2001-09-300.510.510.0
2001-07-18
2001-06-300.640.33-0.3148 
2001-04-18
2001-03-310.650.70.05
2001-01-17
2000-12-310.890.37-0.5258 
2000-10-18
2000-09-300.940.68-0.2627 
2000-07-19
2000-06-300.850.950.111 
2000-04-19
2000-03-311.021.060.04
2000-01-19
1999-12-310.871.320.4551 
1999-10-20
1999-09-300.880.910.03
1999-07-21
1999-06-300.91.030.1314 
1999-04-20
1999-03-310.830.910.08
1999-01-19
1998-12-310.790.870.0810 
1998-10-20
1998-09-300.520.550.03
1998-07-21
1998-06-300.790.830.04
1998-04-21
1998-03-310.750.780.03
1998-01-20
1997-12-310.640.63-0.01
1997-10-21
1997-09-300.720.750.03
1997-07-15
1997-06-300.690.70.01
1997-04-15
1997-03-310.660.670.01
1997-01-21
1996-12-310.630.630.0
1996-10-15
1996-09-300.610.610.0
1996-07-16
1996-06-300.580.60.02
1996-04-16
1996-03-310.550.660.1120 
1996-01-16
1995-12-310.540.560.02
1995-10-16
1995-09-300.530.52-0.01

Use JPMorgan Chase in pair-trading

One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if JPMorgan Chase position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in JPMorgan Chase will appreciate offsetting losses from the drop in the long position's value.

JPMorgan Chase Pair Trading

JPMorgan Chase Co Pair Trading Analysis

The ability to find closely correlated positions to JPMorgan Chase could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JPMorgan Chase when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back JPMorgan Chase - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling JPMorgan Chase Co to buy it.
The correlation of JPMorgan Chase is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as JPMorgan Chase moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if JPMorgan Chase moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for JPMorgan Chase can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
Pair CorrelationCorrelation Matching

Use Investing Themes to Complement your JPMorgan Chase position

In addition to having JPMorgan Chase in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.

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When determining whether JPMorgan Chase is a strong investment it is important to analyze JPMorgan Chase's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact JPMorgan Chase's future performance. For an informed investment choice regarding JPMorgan Stock, refer to the following important reports:
To fully project JPMorgan Chase's future profitability, investors should examine all historical financial statements. These statements provide investors with a comprehensive snapshot of the financial position of JPMorgan Chase at a specified time, usually calculated after every quarter, six months, or one year. Three primary documents fall into the category of financial statements. These documents include JPMorgan Chase's income statement, its balance sheet, and the statement of cash flows.
Potential JPMorgan Chase investors and stakeholders can use historical trends found within financial statements to determine how well the company is positioned for the future. Although JPMorgan Chase investors may work on each financial statement separately, they are all related. The changes in JPMorgan Chase's assets and liabilities, for example, are also reflected in the revenues and expenses that we see on JPMorgan Chase's income statement, which results in the company's gains or losses. Cash flows can provide more information regarding cash listed on a balance sheet but not equivalent to net income shown on the income statement. Please read more on our technical analysis and fundamental analysis pages.