Market capitalisation
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Share price multiplied by shares outstanding. It does not measure company cash.
Company analysis·JPM
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NYSE·JPM
JPMorgan Chase & Co.
Share price$337.54Price as of: Nov 9, 2026
JPMorgan Chase & Co. (JPM) is a company listed on NYSE, classified under Banks - Diversified.
JPMorgan Chase & Co.
Net revenue · FY 2025
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Sales generated during the period, before costs and expenses.
Net margin · FY 2025
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Net income as a proportion of revenue.
“Our take” and other explanations are generated with artificial intelligence from the data, without human review of each text. They are descriptive, not recommendations. Learn more
Explore questions
P1 · What does it do and how does it make money?
Of every $100 it takes in,43 come from Commercial And Investment Bank.
Commercial And Investment Bank is its largest source of revenue (43.0%), followed by Consumer & Community Banking (41.7%). Here you will see what it sells, where, and how that mix is changing.
$182bnnet revenue in FY 2025
5business lines with data
77%of sales, in North America
Full fiscal year ended Dec 31, 2025
After that close
Q3 2026, ended Sep 30, 2026: total revenue +8.1% against the same quarter a year earlier.
This is the revenue of the whole company. The split by lines and regions on this page is still that of the full fiscal year.01How it makes money
The data does not separate products from services.
Not all revenue behaves the same way. A one-off sale depends on someone buying again; a service is billed again and again while the customer stays.
Its business lines · FY 2025
02Where revenue comes from
One line weighs far more than the rest.
Each rectangle is a business line and its size is the share of revenue it brings in. Select one to see the detail.
No room for a label in the mosaic
Area = share of total revenue for the year. It does not show profit: the company does not report what each line earns.
What is a segment's weight?
The part of everything the company takes in that comes from that line. If a line weighs 49%, then of every 100 in sales, 49 come from it.
How to read it
The more a line weighs, the more revenue depends on it. A high weight is neither good nor bad by itself: it shows where to look first.
03Where sales come from
It depends on one main market.
North America is its largest market, with 76.6% of sales. Each square is a region and its area is what it sells there.
Regions from largest to smallest · FY 2025
04How the mix is changing
Segment Reporting, Reconciling Item, Corporate Nonsegment is losing weight.
Weight of each part in 2024 and in 2025. A line gains weight when it grows faster than the total.
pp = percentage points: the difference between two percentages (from 25% to 27% is 2 pp).
05Read with care
What we can deduce from the data. And what we cannot.
We can deduceWe cannot conclude
01
The company relies heavily on Commercial And Investment Bank: this line brought in $8.3B, more than all revenue growth ($4.9B) in FY 2025.
That profit depends on this line in the same way: without line margins, revenue share does not equal profit share.
02
Geographic diversification is limited: North America still accounts for 76.6% even though it grew just 0.3%, while Asia-Pacific grows fastest but from a small base.
That Asia-Pacific's higher growth will soon change the overall structure: it remains a minority of total revenue.
03
Revenue growth outside Commercial And Investment Bank does not offset the fall in Segment Reporting, Reconciling Item, Corporate Nonsegment: without the first, the rest falls −3.2%.
That all other lines are declining: some do grow, but cannot uphold the total without the largest one.
04
FY 2025's revenue model delivered lower profitability despite growth: the net margin fell from 32.9% to 31.3%.
Whether the fall in profitability comes from the more concentrated line: with no margin by line, the source is unknown.
Our take
JPMorgan Chase is increasingly reliant on its investment banking segment, which absorbs all revenue gains and drives greater business concentration.
- 01Shown by the figures
Growth supported almost solely by one line
All revenue growth in FY 2025—and more—comes from Commercial And Investment Bank. Without it, total revenue falls, and reliance on this segment is increasing.
- 02Our interpretation
Limited diversification by region and by line
Even with fast Asia-Pacific growth, North America still represents three-quarters of revenue and barely moves. Other lines contribute but can't offset declines elsewhere.
What is not proven
Did net margin fall due to greater weight of Commercial And Investment Bank, declining performance in other lines, or regional mix?
See the calculations behind it
- Commercial And Investment Bank brought $8.3B of the $4.9B by which revenue grew in FY 2025 (170.5%), although it weighed 39.5%. Without that line, the rest grew −3.2%.
- Dependence on Commercial And Investment Bank rises: from 39.5% of revenue in FY 2024 to 43.0% in FY 2025.
- North America brings 76.6% of sales (78.5% in FY 2024). The fastest-growing region is Asia-Pacific: +17.3% against +2.8% overall.
- Commercial And Investment Bank brought $8.3B, more than the whole increase in revenue in FY 2025 ($4.9B).
With data to Nov 4, 2026. Analysis written by a language model from our calculations, which supply every figure. It is not investment advice.
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