JPMorgan Chase & Co. (JPM) Key Metrics
JPM valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $902.16B
- Enterprise value
- $367.98B
- P/E (TTM)
- 14.2 10-yr median 12.1
- Forward P/E
- 13.5
- PEG ratio
- 1.57
- Price / sales
- 4.7 10-yr median 3.0
- Price / book
- 2.5 10-yr median 1.5
- EV / EBITDA
- — 10-yr median 5.3
- Dividend yield
- 1.94% $6.60 a year
- Beta
- 1.01
JPM key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsJPM valuation Price multiples at each fiscal year-end price.
JPM returns How much profit the business earns on the capital it uses.
JPM per-share figures Results divided by the shares outstanding at year-end.
JPM financial health Debt, liquidity and how easily interest is covered.
JPM efficiency & capital use Working capital cycle and where the cash goes.
JPM valuation history
JPM returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
JPM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
JPM cash returned to shareholders
JPM price vs earnings per share
JPM key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $900.19B | $690.13B | $500.62B | $398.28B | $479.26B | $392.32B | $450.32B | $333.27B | $382.50B | $314.94B |
| Enterprise value | $549.63B | −$221.45B | $337.06B | $176.85B | −$2.89B | $50.86B | $362.41B | $357.71B | $243.77B | $181.77B |
| P/E ratio | 15.8 | 11.8 | 10.1 | 10.6 | 9.9 | 13.5 | 12.4 | 10.3 | 15.7 | 12.7 |
| Price / sales | 3.2 | 2.5 | 2.1 | 2.6 | 3.8 | 3.0 | 3.2 | 2.6 | 3.3 | 3.0 |
| Price / book | 2.5 | 2.0 | 1.5 | 1.4 | 1.6 | 1.4 | 1.7 | 1.3 | 1.5 | 1.2 |
| Price / free cash flow | — | — | 38.6 | 3.7 | 6.1 | — | 110.0 | 21.3 | — | 14.4 |
| Price / operating cash flow | — | — | 38.6 | 3.7 | 6.1 | — | 110.0 | 21.3 | — | 14.4 |
| EV / sales | 2.0 | -0.8 | 1.4 | 1.1 | -0.0 | 0.4 | 2.5 | 2.8 | 2.1 | 1.7 |
| EV / EBITDA | 6.8 | — | 4.9 | 3.3 | — | 1.1 | 6.8 | 7.4 | 5.8 | 4.5 |
| EV / free cash flow | — | — | 26.0 | 1.7 | — | — | 88.6 | 22.9 | — | 8.3 |
| Earnings yield | 6.3% | 8.5% | 9.9% | 9.5% | 10.1% | 7.4% | 8.1% | 9.7% | 6.4% | 7.9% |
| Free cash flow yield | −16.4% | −6.1% | 2.6% | 26.9% | 16.3% | −20.4% | 0.9% | 4.7% | −2.8% | 6.9% |
| Dividend yield | 1.8% | 2.1% | 2.7% | 3.4% | 2.7% | 3.2% | 2.7% | 3.0% | 2.4% | 2.7% |
| Shareholder yield (dividends + buybacks) | 5.7% | 6.3% | 4.7% | 6.1% | 7.1% | 5.3% | 9.0% | 9.5% | 6.7% | 5.6% |
| Share price at fiscal year-end | $322.22 | $239.71 | $170.10 | $134.10 | $158.35 | $127.07 | $139.40 | $97.62 | $106.94 | $86.29 |
| Per share | ||||||||||
| Revenue per share | $100.13 | $94.06 | $80.28 | $51.79 | $42.04 | $42.06 | $44.12 | $38.03 | $32.03 | $29.15 |
| Earnings per share | $20.42 | $20.31 | $16.84 | $12.69 | $15.97 | $9.44 | $11.28 | $9.51 | $6.83 | $6.78 |
| Operating cash flow per share | −$52.90 | −$14.59 | $4.41 | $36.07 | $25.80 | −$25.88 | $1.27 | $4.57 | −$3.03 | $6.00 |
| Free cash flow per share | −$52.90 | −$14.59 | $4.41 | $36.07 | $25.80 | −$25.88 | $1.27 | $4.57 | −$3.03 | $6.00 |
| Cash per share | $304.45 | $577.53 | $277.47 | $257.22 | $340.68 | $286.18 | $186.98 | $149.15 | $177.12 | $172.21 |
| Book value per share | $129.73 | $119.75 | $111.41 | $98.43 | $97.18 | $90.48 | $80.90 | $75.14 | $71.49 | $69.64 |
| Tangible book value per share | $106.66 | $97.32 | $89.53 | $77.94 | $78.45 | $73.18 | $64.38 | $59.22 | $56.28 | $54.78 |
| Dividends per share | $5.95 | $5.13 | $4.57 | $4.57 | $4.25 | $4.11 | $3.82 | $2.96 | $2.51 | $2.32 |
| Capex per share | $0.00 | $0.00 | $0.44 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $178.97 | $260.91 | $221.90 | $182.66 | $181.37 | $175.59 | $159.76 | $156.31 | $138.34 | $135.72 |
| Shares outstanding | 2.79B | 2.88B | 2.94B | 2.97B | 3.03B | 3.09B | 3.23B | 3.41B | 3.58B | 3.65B |
| Change in shares outstanding | −3.0% | −2.2% | −0.9% | −1.9% | −2.0% | −4.4% | −5.4% | −4.6% | −2.0% | −3.3% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 16.1% | 17.4% | 16.0% | 12.8% | 16.9% | 10.8% | 14.1% | 12.7% | 9.6% | 9.9% |
| Return on invested capital (ROIC) | — | — | 42.1% | — | — | — | 16.0% | 16.3% | 20.5% | 20.2% |
| Return on assets (ROA) | 1.4% | 1.5% | 1.3% | 1.0% | 1.4% | 1.0% | 1.4% | 1.3% | 1.0% | 1.0% |
| Return on tangible assets | 1.3% | 1.5% | 1.3% | 1.0% | 1.3% | 0.9% | 1.4% | 1.3% | 1.0% | 1.0% |
| Free cash flow margin | −52.8% | −15.5% | 5.5% | 69.6% | 61.4% | −61.5% | 2.9% | 12.0% | −9.4% | 20.6% |
| Income quality (OCF / net income) | −2.59 | −0.72 | 0.26 | 2.84 | 1.62 | −2.74 | 0.11 | 0.48 | −0.44 | 0.88 |
| Financial health | ||||||||||
| Total debt | $499.98B | $751.15B | $653.07B | $542.50B | $548.94B | $542.10B | $516.09B | $533.63B | $494.80B | $495.35B |
| Cash & short-term investments | $850.54B | $1.66T | $816.64B | $763.93B | $1.03T | $883.56B | $604.00B | $509.19B | $633.53B | $628.53B |
| Net debt | −$350.55B | −$911.58B | −$163.56B | −$221.43B | −$482.15B | −$341.46B | −$87.91B | $24.44B | −$138.73B | −$133.17B |
| Debt / equity | 1.38 | 2.18 | 1.99 | 1.86 | 1.87 | 1.94 | 1.97 | 2.08 | 1.94 | 1.95 |
| Debt / assets | 0.11 | 0.19 | 0.17 | 0.15 | 0.15 | 0.16 | 0.19 | 0.20 | 0.20 | 0.20 |
| Net debt / EBITDA | −4.31 | −10.98 | −2.37 | −4.16 | −7.14 | −7.69 | −1.65 | 0.50 | −3.30 | −3.33 |
| Current ratio | 14.85 | 0.65 | 0.31 | 0.29 | 0.36 | 0.35 | 0.32 | 0.28 | 0.36 | 0.36 |
| Quick ratio | 14.85 | 0.65 | 0.94 | 0.83 | 0.92 | 0.91 | 0.86 | 0.89 | 1.30 | 1.31 |
| Interest coverage | 0.7 | 0.7 | 0.8 | 1.8 | 10.7 | 3.6 | 1.7 | 1.9 | 2.6 | 3.5 |
| Working capital | $897.36B | −$1.09T | −$2.04T | −$2.16T | −$1.99T | −$1.82T | −$1.43T | −$1.48T | −$1.26T | −$1.22T |
| Invested capital | $11.88B | −$566.82B | $164.31B | $70.90B | −$188.03B | −$62.10B | $173.42B | $280.95B | $116.96B | $121.02B |
| Tangible asset value | $297.98B | $280.20B | $263.50B | $231.47B | $237.44B | $225.93B | $207.99B | $202.17B | $201.30B | $199.94B |
| Net current asset value | −$3.10T | −$1.67T | −$2.62T | −$2.48T | −$2.32T | −$2.13T | −$1.75T | −$1.78T | −$1.58T | −$1.56T |
| Graham number | $244.15 | $233.93 | $205.43 | $167.61 | $186.87 | $138.60 | $143.27 | $126.81 | $104.84 | $103.05 |
| Graham net-net per share | −$1,119.74 | −$609.50 | −$1,215.90 | −$1,124.34 | −$1,061.89 | −$953.29 | −$723.08 | −$711.43 | −$703.82 | −$677.79 |
| Capital allocation | ||||||||||
| Dividends paid | $16.62B | $14.78B | $13.46B | $13.56B | $12.86B | $12.69B | $12.34B | $10.11B | $8.99B | $8.48B |
| Share buybacks (net) | $34.59B | $28.68B | $9.82B | $10.60B | $20.98B | $7.95B | $28.08B | $21.68B | $16.67B | $9.08B |
| Dividend payout ratio | 29.1% | 25.3% | 27.2% | 36.0% | 26.6% | 43.6% | 33.9% | 31.1% | 36.8% | 34.3% |
| Dividends + buybacks / free cash flow | — | — | 179.5% | 22.6% | 43.3% | — | 987.8% | 203.6% | — | 80.2% |
| Capex / revenue | 0.0% | 0.0% | 0.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | — | — | 10.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | — | 0.0% |
| Capex / depreciation | 0.00 | 0.00 | 0.17 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Stock-based compensation / revenue | — | — | 1.3% | 1.8% | 2.3% | 1.9% | 1.6% | 1.8% | 1.8% | 1.8% |
| SG&A / revenue | 21.5% | 20.8% | 21.6% | 29.6% | 32.7% | 28.9% | 26.3% | 27.9% | 29.8% | 31.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 282.1 | 288.5 | 179.6 | 270.2 | 276.9 | 229.6 | 187.0 | 198.1 | 191.2 | 169.7 |
| Days of inventory on hand | — | — | -7,057.5 | -19,089.3 | 165,398.4 | -18,103.8 | -13,474.0 | -21,844.0 | -34,828.4 | -21,752.7 |
| Days payables outstanding | 553.0 | 513.4 | 706.3 | 2,013.8 | -15,401.4 | 1,724.6 | 1,314.2 | 1,532.0 | 2,024.3 | 2,614.7 |
| Cash conversion cycle (days) | -271.0 | -224.9 | -7,584.2 | -20,832.8 | 181,076.7 | -19,598.8 | -14,601.2 | -23,177.9 | -36,661.5 | -24,197.7 |
| Receivables turnover | 1.29 | 1.26 | 2.03 | 1.35 | 1.32 | 1.59 | 1.95 | 1.84 | 1.91 | 2.15 |
| Payables turnover | 0.66 | 0.71 | 0.52 | 0.18 | −0.02 | 0.21 | 0.28 | 0.24 | 0.18 | 0.14 |
| Asset turnover | 0.07 | 0.07 | 0.06 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 |
| Average receivables | $216.18B | $214.07B | $116.28B | $113.88B | $96.54B | $81.68B | $73.03B | $70.46B | $60.03B | $49.47B |
| Average payables | $169.91B | $157.56B | $175.33B | $178.93B | $154.73B | $129.33B | $116.58B | $108.76B | $106.28B | $108.74B |
| Average inventory | — | — | −$1.75T | −$1.70T | −$1.66T | −$1.36T | −$1.20T | −$1.55T | −$1.83T | −$904.61B |
| Intangibles / total assets | 1.5% | 1.6% | 1.7% | 1.7% | 1.5% | 1.6% | 2.0% | 2.1% | 2.1% | 2.2% |
Computed from JPM's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
JPM valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), JPMorgan Chase traded at 15.8 times earnings, against a 10-year median of 12.1. Based on the latest twelve months, the trailing P/E is 14.2 and the forward P/E is 13.5. JPMorgan Chase earned a return on equity of 16.1% in fiscal 2025. It ended the year with $500.0 billion of debt and $850.5 billion in cash and short-term investments, a net cash position of $350.6 billion. It returned $51.2 billion to shareholders: $16.6 billion in dividends and $34.6 billion in share buybacks. The share count fell 23.5% from 3.65B to 2.79B over 9 years.
See the JPM income statement, the JPM chart for price history, or the JPM stock overview for the latest quote and news.
JPM key metrics FAQ
What is JPMorgan Chase's P/E ratio?
JPMorgan Chase's trailing P/E ratio is 14.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 13.5. At the end of fiscal 2025 it was 15.8, compared with a 10-year median of 12.1.
What is JPMorgan Chase's EV/EBITDA?
JPMorgan Chase's enterprise value was 6.8 times EBITDA at the end of fiscal 2025 (enterprise value $549.6 billion, EBITDA $81.4 billion).
What is JPMorgan Chase's return on equity?
JPMorgan Chase's return on equity (ROE) was 16.1% in fiscal 2025: net income of $57.0 billion on average shareholders' equity of $353.6 billion.
How much debt does JPMorgan Chase have?
JPMorgan Chase had total debt of $500.0 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.38 and more cash than debt.
What is JPMorgan Chase's dividend yield?
JPMorgan Chase's forward dividend yield is 1.94%. JPMorgan Chase paid $16.6 billion in dividends in fiscal 2025 ($5.95 per share), a payout ratio of 29.1%.
Does JPMorgan Chase buy back its shares?
Yes. JPMorgan Chase spent $34.6 billion on net share repurchases in fiscal 2025 Shares outstanding changed −3.0% over the year, to 2.79B..
What is JPMorgan Chase's free cash flow yield?
JPMorgan Chase generated -$147.8 billion of free cash flow in fiscal 2025, a free cash flow yield of −16.4% on its market value at year-end ($900.2 billion).
What is JPMorgan Chase's current ratio?
JPMorgan Chase's current ratio was 14.85 at the end of fiscal 2025: current assets were 14.85 times current liabilities.