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JPMorgan Chase & Co.'s published Sell conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.
| Market cap | $953.3B | |
|---|---|---|
| Revenue (ttm) | 190.7B | |
| Net income (ttm) | 64.5B | |
| EPS (ttm) | $23.8 | |
| Shares out | 2.7B | |
| P/E (trailing) | 14.2x | |
| P/E (forward) | 14.5x | |
| Dividend | $6.60 (1.95%) | |
| Volume | 3,608,127 | |
| Beta | 1.02 |
Recent price action with selectable time range.
| Item | P1 | P2 | P3 | P4 | P5 | Trend |
|---|---|---|---|---|---|---|
| Period | 2021-12-31 | 2022-12-31 | 2023-12-31 | 2024-12-31 | 2025-12-31 | Trend |
| Revenue | $121.65B | $128.70B | $158.10B | $177.56B | $182.45B | +10.7% |
| Gross profit | $130.91B | $121.39B | $145.67B | $158.79B | $167.61B | +6.4% |
| Operating income | $59.56B | $46.17B | $61.61B | $75.08B | $72.60B | +5.1% |
| Net income | $48.33B | $37.68B | $49.55B | $58.47B | $57.05B | +4.2% |
| EPS (diluted) | $15.36 | $12.09 | $16.23 | $19.75 | $20.02 | +6.8% |
| EBITDA | $67.49B | $53.22B | $69.12B | $83.02B | $81.42B | +4.8% |
| R&D | — | — | — | — | — | — |
| SG&A | $38.57B | $41.64B | $46.47B | $51.36B | $54.49B | +9.0% |
Recent company headlines from major financial publishers.
This outcome assumes the earnings reset holds, growth normalizes in FY2027, and the geographic revenue mix remains broadly stable. Results near central FY2027 forecasts would support this outlook.
This outcome requires FY2027 revenue and diluted EPS near the upper ends of their forecast ranges, supported by continued repurchases. Margin erosion or rising diluted shares would disconfirm the outlook by FY2027.
| Ke ↓ / g → | 2.0% | 2.5% | 3.0% | 3.5% | 4.0% |
|---|---|---|---|---|---|
| 6.8% | $326 | $339 | $356 | $377 | $407 |
| 7.8% | $291 | $299 | $308 | $320 | $335 |
| 8.8% | $265 | $270 | $276 | $283 | $291 |
| 9.8% | $244 | $247 | $251 | $255 | $260 |
| 10.8% | $227 | $229 | $231 | $234 | $237 |
Upcoming earnings date and setup when available.
The rating each month's published research edition carried. A rating compares the price at analysis with the Fair value; it is not a record of whether the call was right.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 |
