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JPMorgan Chase

NYSE:JPM
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
JPM
NYSE
$327B
Market Cap
  1. Home
  2. US
  3. Banks
Company description

JPMorgan Chase & Co. operates as a financial services company worldwide. The last earnings update was 26 days ago. More info.


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JPM Share Price and Events
7 Day Returns
-6.4%
NYSE:JPM
-7.4%
US Banks
-1.1%
US Market
1 Year Returns
-6.8%
NYSE:JPM
-9.6%
US Banks
6.4%
US Market
JPM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
JPMorgan Chase (JPM) -6.4% -5% 8.3% -6.8% 67.7% 66.2%
US Banks -7.4% -7.7% 9.7% -9.6% 40.7% 32.9%
US Market -1.1% 0.3% 17.2% 6.4% 37.9% 42.1%
1 Year Return vs Industry and Market
  • JPM outperformed the Banks industry which returned -9.6% over the past year.
  • JPM underperformed the Market in United States of America which returned 6.4% over the past year.
Price Volatility
JPM
Industry
5yr Volatility vs Market

JPM Value

 Is JPMorgan Chase undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of JPMorgan Chase to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for JPMorgan Chase.

NYSE:JPM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 19 analysts.
= Stable Book Value * Return on Equity
= $77.28 * 13.9%
$10.78
Book Value of Equity per Share Weighted future Book Value estimates from 16 analysts. $77.28
Discount Rate (Cost of Equity) See below 10.7%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:JPM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.61
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.611 (1 + (1- 21%) (183.3%))
1.333
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.33
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.333 * 5.96%)
10.67%

Discounted Cash Flow Calculation for NYSE:JPM using Excess Returns Model Model

The calculations below outline how an intrinsic value for JPMorgan Chase is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NYSE:JPM Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (13.9% – 10.67%) * $77.28)
$2.53
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $2.53 / (10.67% - 2.73%)
$31.87
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $77.28 + $31.87
$109.15
NYSE:JPM Discount to Share Price
Calculation Result
Value per share (USD) From above. $109.15
Current discount Discount to share price of $99.76
= -1 x ($99.76 - $109.15) / $109.15
8.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price JPMorgan Chase is available for.
Intrinsic value
9%
Share price is $99.76 vs Future cash flow value of $109.15
Current Discount Checks
For JPMorgan Chase to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • JPMorgan Chase's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • JPMorgan Chase's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for JPMorgan Chase's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are JPMorgan Chase's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:JPM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $9.04
NYSE:JPM Share Price ** NYSE (2019-03-22) in USD $99.76
United States of America Banks Industry PE Ratio Median Figure of 587 Publicly-Listed Banks Companies 12.68x
United States of America Market PE Ratio Median Figure of 3,062 Publicly-Listed Companies 17.16x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of JPMorgan Chase.

NYSE:JPM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:JPM Share Price ÷ EPS (both in USD)

= 99.76 ÷ 9.04

11.03x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JPMorgan Chase is good value based on earnings compared to the US Banks industry average.
  • JPMorgan Chase is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does JPMorgan Chase's expected growth come at a high price?
Raw Data
NYSE:JPM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.03x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
1.9%per year
United States of America Banks Industry PEG Ratio Median Figure of 260 Publicly-Listed Banks Companies 1.13x
United States of America Market PEG Ratio Median Figure of 2,105 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

NYSE:JPM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.03x ÷ 1.9%

5.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JPMorgan Chase is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on JPMorgan Chase's assets?
Raw Data
NYSE:JPM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $70.36
NYSE:JPM Share Price * NYSE (2019-03-22) in USD $99.76
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.2x
United States of America Market PB Ratio Median Figure of 5,165 Publicly-Listed Companies 1.85x
NYSE:JPM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:JPM Share Price ÷ Book Value per Share (both in USD)

= 99.76 ÷ 70.36

1.42x

* Primary Listing of JPMorgan Chase.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • JPMorgan Chase is overvalued based on assets compared to the US Banks industry average.
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Value checks
We assess JPMorgan Chase's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. JPMorgan Chase has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

JPM Future Performance

 How is JPMorgan Chase expected to perform in the next 1 to 3 years based on estimates from 19 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is JPMorgan Chase expected to grow at an attractive rate?
  • JPMorgan Chase's earnings growth is positive but not above the low risk savings rate of 2.7%.
Growth vs Market Checks
  • JPMorgan Chase's earnings growth is positive but not above the United States of America market average.
  • JPMorgan Chase's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:JPM Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:JPM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 1.9%
NYSE:JPM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 4.4%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 4.3%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 5.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:JPM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:JPM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31 118,293 32,087 6
2020-12-31 116,282 32,313 14
2019-12-31 113,111 31,427 14
NYSE:JPM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 103,984 14,187 30,709
2018-09-30 101,665 34,645 27,848
2018-06-30 99,479 16,561 26,155
2018-03-31 96,807 -15,051 24,830
2017-12-31 94,745 -10,827 22,567
2017-09-30 94,133 15,530 25,036
2017-06-30 93,409 24,617 24,585
2017-03-31 92,516 19,020 23,763
2016-12-31 91,208 21,884 22,834
2016-09-30 88,915 -2,548 21,492
2016-06-30 87,611 18,384 21,951
2016-03-31 87,510 37,204 22,000

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • JPMorgan Chase's earnings are expected to grow by 1.9% yearly, however this is not considered high growth (20% yearly).
  • JPMorgan Chase's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:JPM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from JPMorgan Chase Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:JPM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 13.05 13.05 13.05 1.00
2021-12-31 10.95 11.95 8.86 8.00
2020-12-31 10.51 11.01 8.46 24.00
2019-12-31 9.71 9.95 8.63 24.00
NYSE:JPM Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 9.04
2018-09-30 8.11
2018-06-30 7.52
2018-03-31 7.06
2017-12-31 6.35
2017-09-30 6.99
2017-06-30 6.82
2017-03-31 6.54
2016-12-31 6.24
2016-09-30 5.85
2016-06-30 5.95
2016-03-31 5.95

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • JPMorgan Chase is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess JPMorgan Chase's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
JPMorgan Chase has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

JPM Past Performance

  How has JPMorgan Chase performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare JPMorgan Chase's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • JPMorgan Chase's year on year earnings growth rate has been positive over the past 5 years.
  • JPMorgan Chase's 1-year earnings growth exceeds its 5-year average (36.1% vs 10.1%)
  • JPMorgan Chase's earnings growth has not exceeded the US Banks industry average in the past year (36.1% vs 43.4%).
Earnings and Revenue History
JPMorgan Chase's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from JPMorgan Chase Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:JPM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 103,984.00 30,709.00 57,663.00
2018-09-30 101,665.00 27,848.00 55,524.00
2018-06-30 99,479.00 26,155.00 54,563.00
2018-03-31 96,807.00 24,830.00 53,347.00
2017-12-31 94,745.00 22,567.00 53,436.00
2017-09-30 94,133.00 25,036.00 52,105.00
2017-06-30 93,409.00 24,585.00 51,640.00
2017-03-31 92,516.00 23,763.00 51,159.00
2016-12-31 91,208.00 22,834.00 51,117.00
2016-09-30 88,915.00 21,492.00 49,816.00
2016-06-30 87,611.00 21,951.00 49,328.00
2016-03-31 87,510.00 22,000.00 49,140.00
2015-12-31 89,202.00 22,651.00 49,420.00
2015-09-30 89,992.00 21,987.00 49,696.00
2015-06-30 91,606.00 20,845.00 50,176.00
2015-03-31 92,715.00 20,636.00 50,248.00
2014-12-31 91,973.00 20,077.00 50,128.00
2014-09-30 93,115.00 20,525.00 50,184.00
2014-06-30 93,063.00 14,747.00 49,506.00
2014-03-31 94,241.00 15,355.00 49,671.00
2013-12-31 97,142.00 16,557.00 50,069.00
2013-09-30 96,326.00 16,977.00 49,824.00
2013-06-30 95,135.00 22,973.00 49,865.00
2013-03-31 91,937.00 21,431.00 49,390.00
2012-12-31 91,658.00 19,877.00 49,740.00
2012-09-30 87,948.00 17,983.00 49,223.00
2012-06-30 86,831.00 16,573.00 48,946.00
2012-03-31 89,834.00 17,009.00 48,989.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • JPMorgan Chase has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • JPMorgan Chase used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if JPMorgan Chase improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess JPMorgan Chase's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
JPMorgan Chase has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

JPM Health

 How is JPMorgan Chase's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of JPMorgan Chase's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from JPMorgan Chase Company Filings, last reported 2 months ago.

NYSE:JPM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 256,515.00 598,906.00 973,370.00
2018-09-30 258,956.00 583,460.00 1,056,631.00
2018-06-30 257,458.00 582,792.00 1,050,559.00
2018-03-31 256,201.00 584,708.00 1,074,762.00
2017-12-31 255,693.00 567,864.00 965,829.00
2017-09-30 258,382.00 592,312.00 1,063,734.00
2017-06-30 258,483.00 595,930.00 1,074,852.00
2017-03-31 255,863.00 604,215.00 1,053,532.00
2016-12-31 254,190.00 592,752.00 972,538.00
2016-09-30 254,331.00 612,422.00 1,025,172.00
2016-06-30 252,423.00 601,486.00 983,471.00
2016-03-31 250,157.00 591,538.00 967,834.00
2015-12-31 247,573.00 577,065.00 902,802.00
2015-09-30 245,728.00 631,767.00 978,047.00
2015-06-30 241,205.00 654,017.00 1,014,051.00
2015-03-31 235,864.00 692,503.00 1,148,552.00
2014-12-31 231,727.00 692,582.00 1,117,602.00
2014-09-30 231,277.00 665,834.00 1,065,985.00
2014-06-30 227,314.00 687,225.00 1,063,534.00
2014-03-31 219,655.00 680,656.00 1,040,735.00
2013-12-31 211,178.00 647,625.00 974,343.00
2013-09-30 206,670.00 678,102.00 1,022,320.00
2013-06-30 209,239.00 734,141.00 996,097.00
2013-03-31 207,086.00 725,604.00 954,872.00
2012-12-31 204,069.00 711,877.00 919,044.00
2012-09-30 199,693.00 710,566.00 890,265.00
2012-06-30 191,572.00 708,043.00 850,754.00
2012-03-31 189,269.00 730,222.00 869,572.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • JPMorgan Chase has an acceptable proportion of non-loan assets held.
  • JPMorgan Chase's liabilities are made up of primarily low risk sources of funding.
  • Loans at JPMorgan Chase are broadly funded by customer deposits.
  • JPMorgan Chase's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • JPMorgan Chase has a sufficient allowance for bad loans.
  • JPMorgan Chase has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess JPMorgan Chase's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. JPMorgan Chase has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

JPM Dividends

 What is JPMorgan Chase's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.21%
Current annual income from JPMorgan Chase dividends. Estimated to be 3.65% next year.
If you bought $2,000 of JPMorgan Chase shares you are expected to receive $64 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • JPMorgan Chase's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • JPMorgan Chase's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Upcoming dividend payment

Purchase JPMorgan Chase on or before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:JPM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 469 Stocks 3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:JPM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 4.50 1.00
2021-12-31 4.07 10.00
2020-12-31 3.69 24.00
2019-12-31 3.38 25.00
NYSE:JPM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-19 3.200 3.094
2018-12-12 3.200 3.135
2018-06-28 3.200 2.881
2018-05-15 2.240 2.055
2018-03-20 2.240 2.026
2018-02-27 2.240 1.942
2018-01-12 2.240 1.964
2017-06-28 2.240 2.308
2017-05-16 2.000 2.335
2017-03-22 2.000 2.303
2017-01-05 1.920 2.177
2016-09-20 1.920 2.570
2016-05-17 1.920 2.985
2016-03-15 1.760 2.885
2015-12-08 1.760 2.940
2015-09-15 1.760 2.747
2015-03-17 1.760 2.699
2014-12-09 1.600 2.692
2014-09-16 1.600 2.670
2014-03-26 1.600 2.802
2014-03-18 1.520 2.543
2013-12-10 1.520 2.651
2013-09-17 1.520 2.832
2013-03-14 1.520 2.933
2012-12-11 1.200 2.565
2012-09-18 1.200 2.906
2012-05-15 1.200 3.362
2012-03-13 1.200 2.775
2011-12-13 1.000 2.735
2011-09-20 1.000 3.133
2011-05-17 1.000 2.596
2011-03-18 1.000 2.201
2010-12-14 0.200 0.449
2010-09-21 0.200 0.513
2010-05-18 0.200 0.517
2010-03-16 0.200 0.456
2009-12-08 0.200 0.484
2009-09-15 0.200 0.457
2009-05-19 0.200 0.534
2009-03-25 0.200 0.627

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of JPMorgan Chase's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.7x coverage).
X
Income/ dividend checks
We assess JPMorgan Chase's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can JPMorgan Chase afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. JPMorgan Chase has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

JPM Management

 What is the CEO of JPMorgan Chase's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jamie Dimon
COMPENSATION $28,313,787
AGE 62
TENURE AS CEO 13.3 years
CEO Bio

Mr. James Dimon, also known as Jamie, has been the Chairman and Chief Executive Officer of JPMorgan Chase & Co. since December 31, 2006 and December 31, 2005 respectively and served as its President since July 2004 until January 29, 2018. Mr. Dimon served as the Chief Executive Officer of Bank One Corporation from March 27, 2000 to July 2004. He serves as the Chairman and CEO at JPMorgan Chase Bank, Dearborn. He serves as the Chairman and Chief Executive Officer at J.P. Morgan Partners, LLC. He served as the Chief Executive Officer and Chairman of Bank One Wisconsin. He served as the Chief Operating Officer of JPMorgan Chase & Co. from July 1, 2004 to December 31, 2005. Mr. Dimon served as a Co-Chief Executive Officer of Salomon Smith Barney Holdings Inc., is a subsidiary of Citigroup Inc. from October 1998 to November 1998. He served as the Chief Executive Officer of Smith Barney Holdings, Inc. From November 1998 to March 2000, he was a Private Investor. He served as the President of Citigroup Inc., from October to November 1998. Mr. Dimon served as the President and Chief Operating Officer of J.P. Morgan & Co. Inc. since January 2004. He had extensive experience at Commercial Credit Company and American Express Company. From November 1993 to October 1998, he served as President and Chief Operating Officer of Travelers Group Inc., as well as serving in several other executive positions with Travelers' subsidiaries Smith Barney Inc. and Salomon Barney Inc. during that period. Mr. Dimon served as the Chairman at The Clearing House LLC. He served as the Chairman of Smith Barney Holdings, Inc. He served as Chairman of Bank One Corporation from March 27, 2000 to July 2004. He served as the Chairman of Citigroup Inc. from October 1998 to November 1998. He has been an Executive Director of JPMorgan Chase & Co. since 2000. He serves as Director of Kennedy Center Corporate Fund, The Partnership for New York City, Inc. and Catalyst Inc. He served as a Director of Bank One Corporation since 2000 and Yum! Brands Inc. since 1997. He serves as Vice Chairman of The Business Council. He served as Director of The Federal Reserve Bank of New York until December 31, 2013. He serves as a Director of College Fund/UNCF and Harvard Business School. He serves as a Trustee of The University of Chicago and New York University Medical Center and a Director of the National Center for Addiction and Substance Abuse. He served as a Director of Chicago Clearing House Association. He served as a Director of Smith Barney Holdings, Inc. He serves as Co-Chair of Commission to Enhance Competitiveness for Financial Services Roundtable. He is Member of Executive Committee at Business Roundtable. Mr. Dimon graduated from Tufts University in 1978 and received an MBA from Harvard Business School in 1982. He serves as the Charman and Chief Executive Officer at Chase Bank USA, N.A.

CEO Compensation
  • Jamie's compensation has been consistent with company performance over the past year.
  • Jamie's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the JPMorgan Chase management team in years:

3.5
Average Tenure
51
Average Age
  • The tenure for the JPMorgan Chase management team is about average.
Management Team

Jamie Dimon

TITLE
Chairman & CEO
COMPENSATION
$28M
AGE
62
TENURE
13.3 yrs

Daniel Pinto

TITLE
Co-President & Co-COO
COMPENSATION
$19M
AGE
55
TENURE
1.2 yrs

Gordon Smith

TITLE
Co-President & Co-COO
COMPENSATION
$19M
AGE
60
TENURE
1.2 yrs

Marianne Lake

TITLE
Executive VP & CFO
COMPENSATION
$13M
AGE
48
TENURE
6.2 yrs

Mary Erdoes

TITLE
Chief Executive Officer of Asset & Wealth Management
COMPENSATION
$19M
AGE
51
TENURE
9.5 yrs

John Horner

TITLE
Chief Investment Officer and Treasurer
TENURE
3.9 yrs

Nicole Giles

TITLE
MD, Corporate Controller & Principal Accounting Officer
AGE
46
TENURE
2.2 yrs

Eric Stein

TITLE
Head of Investment Banking

Lori Beer

TITLE
Chief Information Officer
AGE
50

David Owen

TITLE
Chief Administrative Officer
TENURE
3.1 yrs
Board of Directors Tenure

Average tenure and age of the JPMorgan Chase board of directors in years:

7.3
Average Tenure
64
Average Age
  • The tenure for the JPMorgan Chase board of directors is about average.
Board of Directors

David Li

TITLE
Vice Chairman of Global Banking
TENURE
4.4 yrs

Andrew Fleming

TITLE
Chairman of Japanese Investment Trust
AGE
59
TENURE
4.3 yrs

Jamie Dimon

TITLE
Chairman & CEO
COMPENSATION
$28M
AGE
62
TENURE
12.3 yrs

Lee Raymond

TITLE
Lead Independent Director
COMPENSATION
$438K
AGE
79

Linda Bammann

TITLE
Independent Director
COMPENSATION
$402K
AGE
62
TENURE
5.5 yrs

William Weldon

TITLE
Director
COMPENSATION
$443K
AGE
69
TENURE
14 yrs

James Bell

TITLE
Director
COMPENSATION
$430K
AGE
69
TENURE
7.3 yrs

Tim Flynn

TITLE
Director
COMPENSATION
$395K
AGE
61
TENURE
6.8 yrs

Laban Jackson

TITLE
Independent Director
COMPENSATION
$558K
AGE
75
TENURE
14.7 yrs

Jim Crown

TITLE
Director
COMPENSATION
$385K
AGE
64
TENURE
14.7 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by JPMorgan Chase insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
06. Feb 19 Buy James Crown Individual 05. Feb 19 05. Feb 19 5,000 $103.79 $518,950
19. Oct 18 Buy Mellody Hobson Individual 19. Oct 18 19. Oct 18 1,150 $108.94 $125,281
16. May 18 Buy Todd Combs Individual 14. May 18 14. May 18 13,000 $114.61 $1,489,898
17. Apr 18 Buy Mellody Hobson Individual 16. Apr 18 16. Apr 18 18,000 $111.05 $1,998,814
X
Management checks
We assess JPMorgan Chase's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. JPMorgan Chase has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

JPM News

Simply Wall St News

Did JPMorgan Chase & Co (NYSE:JPM) Create Value For Shareholders?

and want to better understand how you can grow your money by investing in JPMorgan Chase & Co (NYSE:JPM). … JPMorgan Chase & Co (NYSE:JPM) delivered an ROE of 10.42% over the past 12 months, which is relatively in-line with its industry average of 8.45% during the same period. … With more debt, JPM can invest even more and earn more money, thus pushing up its returns.

Simply Wall St -

Is Buying JPMorgan Chase & Co (NYSE:JPM) For Its Upcoming US$0.56 Dividend A Good Choice?

If you are interested in cashing in on JPMorgan Chase & Co's (NYSE:JPM) upcoming dividend of US$0.56 per share, you only have 2 days left to buy the shares before its ex-dividend date, 05 July 2018, in time for dividends payable on the 31 July 2018. … Is this future income stream a compelling catalyst for dividend investors to think about the stock as an investment today? … 5 checks you should use to assess a dividend stock

Simply Wall St -

Should You Be Holding JPMorgan Chase & Co (NYSE:JPM)?

In the case of JPMorgan Chase & Co (NYSE:JPM), there's. … that has been able to sustain great financial health over the past … Below, I've touched on some key aspects you should know on a high level

Simply Wall St -

How Did JPMorgan Chase & Co's (NYSE:JPM) 10.42% ROE Fare Against The Industry?

View our latest analysis for JPMorgan Chase Breaking down ROE — the mother of all ratios Return on Equity (ROE) is a measure of JPMorgan Chase’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of JPMorgan Chase’s equity capital deployed. … JPMorgan Chase exhibits a strong ROE against its peers, as well as sufficient returns to cover its cost of equity.

Simply Wall St -

Is JPMorgan Chase & Co (NYSE:JPM) Over-Exposed To Risk?

JPMorgan Chase’s operations expose it to risky assets by lending to borrowers who may not be able to repay their loans. … Generally, the higher level of deposits a bank retains, the less risky it is deemed to be. … This indicates a prudent level of the bank's safer form of borrowing and a prudent level of risk.Next Steps: With positive measures for all three ratios, JPMorgan Chase shows a prudent level of managing its risky assets.

Simply Wall St -

Investors Are Undervaluing JPMorgan Chase & Co (NYSE:JPM) By 3%

NYSE:JPM Intrinsic Value May 7th 18 The Calculation The central belief for this model is, the value of the company is how much money it can generate from its current level of equity capital, in excess of the cost of that capital. … The returns above the cost of equity is known as excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (13.67% – 9.92%) * $74.08 = $2.78 We use this value to calculate the terminal value of the company, which is how much we expect the company to continue to earn every year, forever. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $2.78 / (9.92% – 2.47%) = $37.33 Combining these components gives us JPM's intrinsic value per share: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $74.08 + $37.33 = $111.42 Given JPM's current share price of $108.43, JPM is currently fairly priced by the market.

Simply Wall St -

Is JPMorgan Chase & Co (NYSE:JPM) A Great Dividend Stock?

View our latest analysis for JPMorgan Chase 5 checks you should use to assess a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is their annual yield among the top 25% of dividend payers? … NYSE:JPM Historical Dividend Yield Apr 27th 18 How well does JPMorgan Chase fit our criteria? … In terms of its peers, JPMorgan Chase generates a yield of 2.04%, which is on the low-side for Banks stocks.Next Steps: Taking into account the dividend metrics, JPMorgan Chase ticks most of the boxes as a strong dividend investment, putting it in my list of top dividend payers.

Simply Wall St -

Should You Buy JPMorgan Chase & Co (NYSE:JPM) At $113.37?

It’s trading around 2% above my intrinsic value, which means if you buy JPMorgan Chase today, you’d be paying a relatively fair price for it. … Since JPMorgan Chase’s share price is quite volatile, we could potentially see it sink lower (or rise higher) in the future, giving us another chance to buy. … JPM’s optimistic future growth appears to have been factored into the current share price, with shares trading around its fair value.

Simply Wall St -

Should Income Investors Buy JPMorgan Chase & Co (NYSE:JPM) Before Its Ex-Dividend?

On the 30 April 2018, JPMorgan Chase & Co (NYSE:JPM) will be paying shareholders an upcoming dividend amount of $0.56 per share. … View our latest analysis for JPMorgan Chase 5 questions I ask before picking a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … NYSE:JPM Historical Dividend Yield Apr 1st 18 How well does JPMorgan Chase fit our criteria?

Simply Wall St -

How Do Analysts See JPMorgan Chase & Co (NYSE:JPM) Performing Over The Next Few Years?

Below, I've laid out key numbers on how market analysts perceive JPMorgan Chase's earnings growth outlook over the next few years and whether the future looks brighter. … View our latest analysis for JPMorgan Chase Analysts' outlook for this coming year seems buoyant, with earnings increasing by a robust 34.14%. … The slope of this line is the rate of earnings growth, which in this case is 10.34%.

Simply Wall St -

JPM Company Info

Description

JPMorgan Chase & Co. operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit and investment products and services to consumers; lending, deposit, and cash management and payment solutions to small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit card, payment processing, auto loan, and leasing services. The CIB segment provides investment banking products and services, including advising on corporate strategy and structure, and capital-raising in equity and debt markets, as well as loan origination and syndication; treasury services, such as cash management and liquidity solutions; and cash securities and derivative instruments, risk management solutions, prime brokerage, and research. This segment also offers securities services, including custody, fund accounting and administration, and securities lending products for asset managers, insurance companies, and public and private investment funds. The CB segment provides financial solutions, including lending, treasury, investment banking, and asset management to corporations, municipalities, financial institutions, and nonprofit entities, as well as financing to real estate investors and owners. The AWM segment offers investment and wealth management services across various asset classes, such as equities, fixed income, alternatives, and money market funds; multi-asset investment management services; retirement products and services; and brokerage and banking services comprising trusts, estates, loans, mortgages, and deposits. The company also provides ATMs; digital covering online and mobile; and telephone banking services. JPMorgan Chase & Co. was founded in 1799 and is headquartered in New York, New York.

Details
Name: JPMorgan Chase & Co.
JPM
Exchange: NYSE
Founded: 1799
$326,743,256,415
3,275,293,268
Website: http://www.jpmorganchase.com
Address: JPMorgan Chase & Co.
383 Madison Avenue,
New York,
New York, 10179,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE JPM Common Shares New York Stock Exchange US USD 05. Mar 1969
DB CMC Common Shares Deutsche Boerse AG DE EUR 05. Mar 1969
XTRA CMC Common Shares XETRA Trading Platform DE EUR 05. Mar 1969
LSE 0Q1F Common Shares London Stock Exchange GB CHF 05. Mar 1969
SWX JPM Common Shares SIX Swiss Exchange CH CHF 05. Mar 1969
WBAG JPM Common Shares Wiener Boerse AG AT EUR 05. Mar 1969
SNSE JPM Common Shares Santiago Stock Exchange CL USD 05. Mar 1969
BVC JPM Common Shares Bolsa de Valores de Colombia CO COP 05. Mar 1969
BMV JPM * Common Shares Bolsa Mexicana de Valores MX MXN 05. Mar 1969
NYSE JPM.PRA DEP 1/400 PFD P New York Stock Exchange US USD 31. Jan 2013
NYSE JPM.PRE DEP SHS PFD W New York Stock Exchange US USD 18. Jun 2014
NYSE JPM.PRF DEP SHS 1/400 New York Stock Exchange US USD 09. Feb 2015
NYSE JPM.PRG DEP SHS PFD New York Stock Exchange US USD 01. Jun 2015
NYSE JPM.PRH DEP SHS REP PFD New York Stock Exchange US USD 24. Jul 2015
NYSE JPM.PRD 5.75% SHS PFD DD New York Stock Exchange US USD 18. Sep 2018
DB CMCF 5%-FRN PERP USD Deutsche Boerse AG DE USD 04. Jun 2014
DB CMCE 6.1%-FRN SUB PERP USD Deutsche Boerse AG DE USD 19. Sep 2014
BOVESPA JPMC34 BDR EACH REPR 0.5 COM USD1 Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2012
BASE JPM CEDEAR REP 1/10 USD2.5 Buenos Aires Stock Exchange AR ARS 17. Jul 2001
NYSE JPM.PRC 6 DEP NCM PFD EE New York Stock Exchange US USD 18. Jan 2019
DB CMC2 PERP SR NT 7.9% Deutsche Boerse AG DE USD 18. Apr 2008
DB CMC6 PERP SR -R NT 6% Deutsche Boerse AG DE USD 23. Jul 2013
DB CMC5 6.75%-FRN SUB PERP USD 'S' Deutsche Boerse AG DE USD 17. Jan 2014
Number of employees
Current staff
Staff numbers
256,105
JPMorgan Chase employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/24 23:38
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/03/21
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.