Is JPMorgan Chase & Co. overvalued?

In our latest published analysis dated 2026-05-08, JPM screens modestly overvalued. The price recorded at analysis is USD 306 versus a composite fair-value midpoint of USD 263 (range USD 190–USD 324), implying roughly 14.1% downside to the midpoint at that date.

What is JPM's fair value?

Our latest published report, analyzed 2026-05-08, gives JPM a composite fair-value range of USD 190–USD 324, with a midpoint of USD 263. The range is triangulated across multiple valuation models and weighted by reliability for JPMorgan Chase & Co.'s archetype; it is a dated research output, not a live price.

Should I buy JPM now?

Our latest published rating for JPM, analyzed 2026-05-08, is Reduce with a confidence score of 88/100. JPMorgan Chase & Co. screens modestly overvalued at the analysis-date price of USD 306 versus a fair-value midpoint of USD 263. This is research for educational purposes, not personalized investment advice.

What are the biggest risks for JPM?

The top risks our latest published report dated 2026-05-08 flags for JPMorgan Chase & Co. are: Severe Credit Cycle Reversion; Aggressive NIM Compression; Regulatory Capital Squeeze.

What is JPM's rating?

Our latest published rating for JPM, analyzed 2026-05-08, is Reduce, with a confidence score of 88/100 and a moat score of 9/10. It reflects the composite fair-value range (USD 190–USD 324) versus the price recorded at analysis (USD 306).

What archetype is JPM?

In the latest published report analyzed 2026-05-08, JPMorgan Chase & Co. is classified as a financial stock. Archetype determines how every downstream parameter — discount rate, terminal growth, deceleration curve, terminal multiple, scenario probability weights, scorecard weights, and which valuation models are prioritized — is calibrated for JPM.

What does JPM's income statement show?

Our financial-history view of JPMorgan Chase & Co. (JPM) covers revenue, gross profit, operating income, and net income across the past five fiscal years, with year-over-year growth and margin context for each line.

Is JPM's revenue growing?

The revenue trajectory is reported in the financial-history section with year-over-year growth rates. Direction and acceleration are summarised inline; the full table sits within the parent financials tab.

How do you read JPM's operating income?

We track operating income alongside operating margin so the reader can separate top-line growth from operating leverage. The numbers analysis subsection flags one-offs, restructuring, and stock-based-compensation effects when material.

What is JPM's net income trend?

Net income is shown together with EPS so dilution and buybacks are visible alongside profit. Where reported net income diverges materially from operating cash flow, the discrepancy is called out in the numbers-analysis subsection.

JPM income statement: revenue, operating income, net income

Latest published researchAnalyzed 2026-05-08; report age: stale; sources: unverified. Age and source freshness are disclosed but do not remove the latest published report from discovery or indexing. Prices and valuation figures are the analysis-date snapshot, not a live quote.

Direct answer

JPMorgan Chase is a best-in-class, universally diversified financial institution with a fortress balance sheet, consistent market share gains across cycles, and scale advantages that provide a structural premium over peers. Fair value range: low $190, high $324, with mid-point at $263.

INCOME STATEMENT FAQ

JPM income statement questions

Our financial-history view of JPMorgan Chase & Co. (JPM) covers revenue, gross profit, operating income, and net income across the past five fiscal years, with year-over-year growth and margin context for each line.

FAQ

JPM — frequently asked questions

In our latest published analysis dated 2026-05-08, JPM screens modestly overvalued. The price recorded at analysis is USD 306 versus a composite fair-value midpoint of USD 263 (range USD 190–USD 324), implying roughly 14.1% downside to the midpoint at that date.

Metric	Current	Trigger threshold
Consecutive quarters of net charge-offs exceeding 1.5%.	Monitor	Deterioration versus the report thesis
NIM compression exceeding 20 basis points sequentially.	Monitor	Deterioration versus the report thesis
Significant deceleration in consumer credit card spend volume.	Monitor

Line item	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$121.65B	$128.70B+5.8%	$158.10B+22.8%	$177.56B+12.3%	$182.45B+2.8%	+10.7%
Gross profit	—	—	—	—	—	—
Operating income	—	—	—	—	—	—
Net income	$48.33B	$37.68B-22.0%	$49.55B+31.5%	$58.47B+18.0%	$57.05B-2.4%	+4.2%
EPS (diluted)	$15.36	$12.09	$16.23	$19.75	$20.02	+6.8%
EBITDA	—	—	—	—	—	—
R&D	—	—	—	—	—	—
SG&A	—	$45.55B	$51.06B	$56.33B	$60.02B	+7.1%

JPM income statement questions

JPM — frequently asked questions

JPM JPMorgan Chase & Co. fair value $190–$324

§1 Executive summary

Names readers of JPM also follow

§2 Bear case

Severe Credit Cycle Reversion

Aggressive NIM Compression

Regulatory Capital Squeeze

§3 Financial history

Income statement — last six periods

Quality scores

Numbers analysis

Read the full analysis — 11 more sections.