JPMorgan Chase JPM

NYSE · National Commercial Banks · $936.0B

$337.34−4.19%Nov 5 close · Databento

Every report since 2026 →

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JPM Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $337.341D −4.19%3M −6.24%SMA20 $336.96SMA50 $342.22RSI(14) 48.7

337.34

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 48.7

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

After a story on JPM, the first close moved a median +0.39%. Up 4 of 7; over the next three trading days, a median −0.22%.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$936.0B

Enterprise value$862.6B

Revenue$182.4B +2.8%

EPS, diluted$20.02 +1.4%

Modern Valuation (EOD)

Market Cap$936.0B

Enterprise Value$862.6B

EV / True FCF—

EV / FCF—

EV / Gross Profit—

EV / EBIT—

EV / Sales4.73

P / E (GAAP)16.42

P / FCF—

P / Oper. CF—

P / Book2.58

Owner & Cash Yields

True FCF Yield—

FCF Yield—

Owner Earn. Yield—

Earnings Yield6.1%

Shareholder Yield+4.8%

Buyback Yield3.4%

Dividend Yield1.72%

Dividend / sh$5.80

Payout Ratio29%

FCF / sh—

EPS (diluted)$20.02

Compounder & Returns

Rule of 40—

ROIC—

Cash ROIC (CROIC)—

GP / Assets—

ROE15.7%

ROA1.3%

Gross Margin—

Oper. Margin—

Net Margin31.2%

FCF Margin—

True FCF Margin—

Quality & Dilution

Cash Conversion—

Accrual Ratio+4.6%

SBC % of FCF—

SBC % of Rev2.0%

Reinvest. Rate—

Sales Growth Y/Y+2.8%

Sales 3Y CAGR+12.3%

EPS Growth Y/Y+1.4%

FCF Growth Y/Y—

FCF 3Y CAGR—

Share Change Y/Y−3.4%

Balance Sheet & Scale

Revenue (FY)$182.4B

Gross Profit (FY)—

Oper. Income (FY)—

GAAP Net Income$57.0B

True FCF (ex-SBC)—

Cash & Equiv$343.3B

Total Debt$269.9B

Net Cash (Debt)$73.4B

Net Cash % MCap+7.8%

Debt / FCF (yrs)—

Current Ratio—2.66B sh

Price & Technicals (EOD)

Perf Week−1.82%

Perf Month+2.35%

Perf Quarter−5.64%

Perf Half Y+10.14%

Perf YTD+6.42%

SMA 20 Dist+0.11%$336.96

SMA 50 Dist−1.43%$342.22

SMA 100 Dist−2.01%$344.24

Window High−7.62%$365.18

Window Low+14.08%$295.70

RSI (14) · Vol48.727%v

Income Distribution & Cash Flow ConversionHow every dollar of JPM revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$0 ($0.0 / $100)

Operating Expenses$0 ($0.0 / $100)

Tax & Non-Operating$125.4B ($68.8 / $100)

Net Profit Kept$57.0B ($31.2 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$57.0B (31.2% margin)

Operating Cash Flow (OCF)$-147.8B(-81.0% of rev)

Less: Capital Expenditures—

Standard Free Cash Flow (FCF)—

Less: Stock-Based Comp (SBC)−$3.6B

True FCF (Owner Cash ex-SBC)—

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$121.6B	$128.7B	$158.1B	$177.6B	$182.4B	+2.8%	+10.7%
Interest Expense	$5.6B	$26.1B	$81.3B	—	$81.3B	—	+95.6%
Income Tax Expense	$11.2B	$8.5B	$12.1B	$16.6B	$15.5B	−6.4%	+8.5%
GAAP Net Income	$48.3B	$37.7B	$49.6B	$58.5B	$57.0B	−2.6%	+4.2%
Diluted EPS	$15.36	$12.09	$16.23	$19.75	$20.02	+1.4%	+6.8%
Diluted Shares	3.03B	2.97B	2.94B	2.88B	2.78B	−3.4%	−2.1%
Balance Sheet
Cash & Equivalents	$740.8B	$567.2B	$624.2B	$469.3B	$343.3B	−26.8%	−17.5%
Total Assets	$3,744B	$3,666B	$3,875B	$4,003B	$4,425B	+10.5%	+4.3%
Total Debt (Short + Long Term)	$269.9B	$269.9B	$269.9B	$269.9B	$269.9B	+0.0%	+0.0%
Total Liabilities	$3,449B	$3,373B	$3,548B	$3,658B	$4,062B	+11.1%	+4.2%
Stockholders' Equity	$294.1B	$292.3B	$327.9B	$344.8B	$362.4B	+5.1%	+5.4%
Net Cash / (Net Debt)	$470.9B	$297.3B	$354.2B	$199.4B	$73.4B	−63.2%	−37.2%
Invested Capital	$-176.8B	$-5.0B	$-26.3B	$145.4B	$289.0B	+98.8%	—
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$78.1B	$107.1B	$13.0B	$-42.0B	$-147.8B	−251.8%	—
Stock-Based Compensation (SBC)	$2.9B	$2.8B	$3.1B	$3.5B	$3.6B	+3.1%	+5.4%
Share Repurchases (Buybacks)	$18.4B	$3.2B	$9.8B	$18.8B	$31.6B	+67.8%	+14.5%
Dividends Paid	$12.9B	$13.6B	$13.5B	$14.8B	$16.6B	+12.5%	+6.6%

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what JPM did at the next close after each story

Oct 22

US banks confront unauthorized AI agents inside customer accounts

ZeroHedge · 3:30 PM ET

+0.40%

Oct 13

JPMorgan posts $15.3 billion third-quarter profit in 8-K filing

SEC EDGAR · 12:00 PM ET

−0.86%

Oct 12

Big banks face $19 billion stock-trading test in Tuesday earnings

Bloomberg Television · 11:21 AM ET

+0.39%

Sep 19

Saudi pipeline attack leaves JPMorgan without a baseline for oil markets

Bloomberg Television · 8:10 AM ET

+0.68%

Sep 15

US 10-Year Yield Rises to Highest Since '07, Trump Says AI Fears a 'Hoax'

Bloomberg Television · 8:02 AM ET

+0.67%

Sep 4

Oil nears $96 as Hormuz risks persist; JPM warns of $103B yen short unwind risk

Bloomberg Television · 4:15 AM ET

−0.94%

Sep 2

Nvidia nears reported $14B acquisition of AI startup Hugging Face

Bloomberg Television · 4:02 PM ET

—

Aug 26

Wheat Futs Surge To Three-Year High As JPMorgan, HSBC Warn Global Food Shock Is Brewing

ZeroHedge · 2:25 PM ET

−0.05%

Aug 25

NVIDIA orbital data center delayed to 2027 as Musk pushes SpaceX timeline

Yahoo Finance · 12:22 PM ET

—

The record, by topic

last 90 days · stories · median first close

macro3−0.05%

earnings2−0.23%

regulation1+0.40%

energy1+0.68%

What happened · big days

18 big days in a year, and what we hold on each

A big day is a close more than 2.56% from the one before, three times JPM’s median day (0.85%). On 14 of the 18, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±2.56%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayJPMWhat we hold that dayGroup (median of 4) · each

1 Nov 13, 2025−3.41%
Before our storiesgroup −2.2%, moved with JPM
1Nov 13, 2025−3.41%
Before our stories
−2.2% moved with JPMCOF −2.4 · BAC −2.3 · C −2.1 · WFC −1.8
2 Dec 9, 2025−4.66%
Before our storiesgroup −0.3%, did not move with it
2Dec 9, 2025−4.66%
Before our stories
−0.3% did not move with itWFC −1.3 · BAC −0.7 · COF +0.1 · C +0.5
3 Dec 10, 2025+3.19%
Before our storiesgroup +1.8%, moved with JPM
3Dec 10, 2025+3.19%
Before our stories
+1.8% moved with JPMCOF +3.0 · WFC +2.0 · C +1.5 · BAC +1.0
4 Jan 5, 2026+2.63%
Before our storiesgroup +1.5%, moved with JPM
4Jan 5, 2026+2.63%
Before our stories
+1.5% moved with JPMC +3.9 · BAC +1.7 · WFC +1.2 · COF +1.0
5 Jan 13, 2026−4.19%
Resultsgroup −1.2%, did not move with it
5Jan 13, 2026−4.19%
ResultsFirst close after the Jan 13 results filing
−1.2% did not move with itWFC −1.5 · C −1.2 · BAC −1.2 · COF −0.8
6 Jan 20, 2026−3.11%
Before our storiesgroup −3.2%, moved with JPM
6Jan 20, 2026−3.11%
Before our stories
−3.2% moved with JPMC −4.4 · COF −4.4 · WFC −1.9 · BAC −1.6
7 Feb 6, 2026+3.95%
Before our storiesgroup +2.8%, moved with JPM
7Feb 6, 2026+3.95%
Before our stories
+2.8% moved with JPMC +6.0 · BAC +2.9 · COF +2.7 · WFC +2.1
8 Feb 12, 2026−2.63%
Before our storiesgroup −3.3%, moved with JPM
8Feb 12, 2026−2.63%
Before our stories
−3.3% moved with JPMC −5.3 · COF −3.5 · WFC −3.0 · BAC −2.5
9 Feb 23, 2026−4.22%
Before our storiesgroup −4.3%, moved with JPM
9Feb 23, 2026−4.22%
Before our stories
−4.3% moved with JPMCOF −8.8 · C −4.5 · WFC −4.0 · BAC −3.8
10 Mar 27, 2026−3.02%
Before our storiesgroup −3.0%, moved with JPM
10Mar 27, 2026−3.02%
Before our stories
−3.0% moved with JPMC −4.5 · COF −3.3 · BAC −2.6 · WFC −2.3
11 Mar 31, 2026+3.66%
Before our storiesgroup +3.4%, moved with JPM
11Mar 31, 2026+3.66%
Before our stories
+3.4% moved with JPMC +5.7 · WFC +3.7 · BAC +3.2 · COF +2.4
12 Apr 8, 2026+3.55%
Before our storiesgroup +4.5%, moved with JPM
12Apr 8, 2026+3.55%
Before our stories
+4.5% moved with JPMCOF +6.2 · C +5.4 · WFC +3.6 · BAC +3.2
13 May 7, 2026−2.74%
Before our storiesgroup −1.0%, did not move with it
13May 7, 2026−2.74%
Before our stories
−1.0% did not move with itBAC −1.6 · WFC −1.6 · COF −0.4 · C +1.2
14 Jun 4, 2026+3.34%
Before our storiesgroup +3.6%, moved with JPM
14Jun 4, 2026+3.34%
Before our stories
+3.6% moved with JPMC +4.0 · WFC +3.7 · BAC +3.4 · COF +3.1
15 Jun 16, 2026+3.68%
Nothing on JPMgroup +2.0%, moved with JPM
15Jun 16, 2026+3.68%
Nothing on JPMNo JPM story, brief or results filing in our record that day
+2.0% moved with JPMCOF +3.1 · WFC +2.3 · BAC +1.7 · C +1.3
16 Jul 29, 2026−3.53%
Nothing on JPMgroup −3.0%, moved with JPM
16Jul 29, 2026−3.53%
Nothing on JPMNo JPM story, brief or results filing in our record that day
−3.0% moved with JPMC −4.0 · WFC −3.5 · BAC −2.5 · COF −1.7
17 Sep 22, 2026−3.42%
Nothing on JPMgroup −2.6%, moved with JPM
17Sep 22, 2026−3.42%
Nothing on JPMNo JPM story, brief or results filing in our record that day
−2.6% moved with JPMWFC −3.9 · BAC −3.0 · COF −2.1 · C −1.9
18 Nov 4, 2026+4.18%
Nothing on JPMgroup +1.9%, did not move with it
18Nov 4, 2026+4.18%
Nothing on JPMNo JPM story, brief or results filing in our record that day
+1.9% did not move with itBAC +4.0 · WFC +2.2 · C +1.6 · COF −1.1

A story on the same day is not a cause, and a group move is not proof either. Group: the median of BAC, WFC, C and COF that day, the largest companies in JPM’s SEC industry; “moved with JPM” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last four did

Six trading days after each results filing (SEC 8-K, Item 2.02). JPM reports before the open, so day 1 is that day’s close. 3 of 4 times, day 6 ended on the same side as day 1.

Reported Jan 13, 2026

day 1−4.19%day 6−6.92%

Reported Apr 14, 2026

day 1−0.82%day 6−0.22%

Reported Jul 14, 2026

day 1+2.50%day 6+3.20%

Reported Oct 13, 2026

day 1−0.86%day 6+0.29%

Next report: expected mid JanuaryEstimated from the dates of its last four results filings. Not announced. Since the Oct 13 report: +5.33%. Four reports is a small sample.

Every report since 2026 →

Each line is JPM’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

JPM against four bank peers, a year at 100

JPM is up 12.1% in a year. Citigroup is up 23.8%. Of these four, Wells Fargo (+1.6%), Bank of America (−3.0%) and Capital One Financial (−5.3%) did less. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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JPM +12.1%. Citigroup +23.8%, Wells Fargo +1.6%, Bank of America −3.0%, Capital One Financial −5.3%. Weekly closes, Nov 7, 2025 = 100, log scale.

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End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in JPM’s SEC industry (National Commercial Banks) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

BAC	Bank of America	$361.0B	−3.62%
WFC	Wells Fargo	$264.4B	−3.01%
C	Citigroup	$218.2B	−5.04%
COF	Capital One Financial	$126.6B	−1.20%
USB	US Bancorp de	$95.1B	−2.10%
PNC	PNC Financial Services	$93.1B	−2.87%
TFC	Truist Financial	$62.1B	−2.02%
HBAN	Huntington Bancshares	$32.4B	−2.80%