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Held by 1,974 of 2,417 reporting institutions (100th percentile) — extremely crowded.
Data as of Q3 2026
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What the company returns to shareholders — and whether it's covered by cash.
Free-cash-flow coverage unavailable. Last year: $16.63B dividends + $31.59B buybacks = $48.22B returned on -$147.78B FCF.
9 consecutive years of dividend increases · 11%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 13%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
A reverse discounted cash flow is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
Leverage ratios is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
$32.16B of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2022-12-31 (10-K).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~181.9% on $44.71B of debt. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Mostly short-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $182.45B 100.0% | $177.56B 100.0% | $158.10B 100.0% | $128.69B 100.0% | $121.65B 100.0% | $119.95B 100.0% | $115.72B 100.0% | $108.78B 100.0% | $100.70B 100.0% | $96.57B 100.0% |
| Interest Expense | — | — | $81.32B 51.4% | $26.10B 20.3% | $5.55B 4.6% | $9.96B 8.3% | $26.80B 23.2% | $21.04B 19.3% | $13.87B 13.8% | $9.82B 10.2% |
| Interest & Investment Income | $28.03B 15.4% | $23.14B 13.0% | $18.73B 11.8% | $11.35B 8.8% | $7.52B 6.2% | $9.03B 7.5% | $9.29B 8.0% | $7.25B 6.7% | $7.38B 7.3% | $7.30B 7.6% |
| Pretax Income | $72.59B 39.8% | $75.08B 42.3% | $61.61B 39.0% | $46.17B 35.9% | $59.56B 49.0% | $35.81B 29.9% | $44.87B 38.8% | $40.76B 37.5% | $35.90B 35.6% | $34.54B 35.8% |
| Income Tax Expense | $15.55B 8.5% | $16.61B 9.4% | $12.06B 7.6% | $8.49B 6.6% | $11.23B 9.2% | $6.68B 5.6% | $8.44B 7.3% | $8.29B 7.6% | $11.46B 11.4% | $9.80B 10.2% |
| Net Income | $57.00B 31.2% | $58.50B 32.9% | $49.60B 31.4% | $37.70B 29.3% | $48.30B 39.7% | $29.13B 24.3% | $36.43B 31.5% | $32.47B 29.9% | $24.44B 24.3% | $24.73B 25.6% |
| Per Share | ||||||||||
| EPS (Basic) | $20.05 | $19.79 | $16.25 | $12.10 | $15.39 | $8.89 | $10.75 | $9.04 | $6.35 | $6.24 |
| EPS (Diluted) | $20.02 | $19.75 | $16.23 | $12.09 | $15.36 | $8.88 | $10.72 | $9.00 | $6.31 | $6.19 |
| Weighted Avg Shares (Basic) | 2.78B | 2.87B | 2.94B | 2.97B | 3.02B | 3.08B | 3.22B | 3.40B | 3.55B | 3.66B |
| Weighted Avg Shares (Diluted) | 2.78B | 2.88B | 2.94B | 2.97B | 3.03B | 3.09B | 3.23B | 3.41B | 3.58B | 3.69B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 15 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JPM | $895.0B | 16.8× | — | 4.9× | 2.8% | — | 31.3% | 15.7% | 13.4% | — | 1,974 |
| BAC | $345.1B | 13.1× | — | 3.0× | 6.8% | — | 27.0% | 10.1% | 4.9% | — | 1,281 |
| C | $203.0B | 17.6× | — | 2.4× | 5.6% | — | 16.8% | 6.7% | 2.5% | — | — |
| COF | $125.7B | 50.8× | — | 2.4× | 36.6% | — | 4.6% | 2.2% | 2.1% | — | 645 |
| USB | $92.6B | 12.9× | — | 3.2× | 4.4% | — | 26.4% | 11.6% | 9.2% | — | 685 |
| PNC | $90.5B | 13.7× | — | 3.9× | 7.2% | — | 30.3% | 11.5% | 5.9% | — | 677 |
| KEY | $22.3B | 13.9× | — | 3.0× | 62.7% | — | 24.3% | 9.0% | 6.0% | — | 248 |
| FHN | $11.0B | 12.4× | — | 3.2× | 7.2% | — | 28.7% | 11.1% | 8.1% | — | — |
| CFR | $9.8B | 15.9× | — | 4.4× | 8.3% | — | 29.0% | 14.2% | 14.2% | — | 149 |
| WBHC | $6.8B | 87.9× | — | 19.1× | 14.2% | — | 21.2% | 13.0% | 12.8% | — | — |
| CBU | $3.3B | 15.7× | — | 4.0× | 9.6% | — | 25.7% | 10.5% | 10.5% | — | 58 |
| PRK | $3.2B | 15.8× | — | 4.8× | 2.9% | — | 27.1% | 13.3% | 12.6% | — | 61 |
| BANC | $2.9B | 15.6× | — | 1.6× | -3.8% | — | 12.6% | 6.5% | 4.1% | — | 48 |
| NBTB | $2.7B | 15.7× | — | 14.8× | 10.4% | — | 92.5% | 8.9% | 8.3% | — | 62 |
| CASH | $1.6B | 9.6× | — | 1.9× | 5.3% | — | 22.1% | 21.7% | 20.6% | — | 46 |
| HAFC | $960M | 13.0× | 12.1× | 3.5× | 15.3% | — | 28.2% | 9.6% | 9.6% | 0.0× | 38 |
Peers = companies sharing JPM's sector (National Commercial Banks) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 16% against ROIC 13% — 2% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Income Tax | 7.6 | 7.3 | 5.6 | 9.2 | 6.6 | 7.6 | 9.4 | 8.5 |
| Net Income | 29.9 | 31.5 | 24.3 | 39.7 | 29.3 | 31.4 | 32.9 | 31.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on JPM: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | not reported | 25.6% |
| FY2017 | not reported | not reported | 24.3% |
| FY2018 | not reported | not reported | 29.9% |
| FY2019 | not reported | not reported | 31.5% |
| FY2020 | not reported | not reported | 24.3% |
| FY2021 | not reported | not reported | 39.7% |
| FY2022 | not reported | not reported | 29.3% |
| FY2023 | not reported | not reported | 31.3% |
| FY2024 | not reported | not reported | 32.9% |
| FY2025 | not reported | not reported | 31.3% |
Leverage and buybacks account for 2 points of the 16% return on equity in FY2025. The business earns 13% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Free cash flow has fallen short of reported profit in 3 of the last three years.
Reported free cash flow is -$147.78B; after share-based compensation it is -$151.40B. The difference is a real cost that the cash flow statement adds back.
Leverage is not measurable this way for a bank.
This schedule comes from a filing dated 2022-12-31, 1401 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2022-12-31 (10-K); cash from the 2022-12-31 balance sheet; FCF from FY2022. No cash figure on the matching balance sheet, so no coverage line is drawn.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $337.04, free cash flow must compound 25.64%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −2052.8% | 25.6% |
| FY2022 | 37.2% | 25.6% |
| FY2023 | −87.9% | 25.6% |
| FY2024 | −423.8% | 25.6% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $57.05B | $57.05B |
| Share-based comp | $3.61B | $60.66B |
| Other non-cash & working capital | −$208.44B | −$147.78B |
| Operating cash flow | −$147.78B | −$147.78B |
| Capex | $0 | −$147.78B |
| Free cash flow | −$147.78B | −$147.78B |
| FCF after SBC | −$151.40B | −$151.40B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 3.7% | not reported | not reported |
| FY2021 | 1.4% | not reported | not reported |
| FY2022 | 5.8% | not reported | not reported |
| FY2023 | 22.9% | not reported | not reported |
| FY2024 | 12.3% | not reported | not reported |
| FY2025 | 2.8% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | 1.2 percent |
| FY2020 | 3.2 percent |
| FY2021 | -0.8 percent |
| FY2022 | -1.9 percent |
| FY2023 | 0.9 percent |
| FY2024 | 2.5 percent |
| FY2025 | 4.6 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-14 | Burke Stephen B Director | Gift | 30,000 | $0.00 | $0 |
| 2026-09-30 | Burke Stephen B Director | Grant | 170 | $330.83 | $56k |
| 2026-09-30 | Hobson Mellody L Director | Grant | 136 | $330.83 | $45k |
| 2026-09-30 | Novakovic Phebe N Director | Grant |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 121 |
| $330.83 |
| $40k |
| 2026-09-30 | Rometty Virginia M Director | Grant | 121 | $330.83 | $40k |
| 2026-09-10 | Leopold Robin Head of Human Resources | 10b5-1 plan sale | 2,500 | $352.81 | $882k |
| 2026-08-11 | Leopold Robin Head of Human Resources | 10b5-1 plan sale | 2,500 | $361.41 | $904k |
| 2026-07-27 | Friedman Stacey General Counsel | Gift | 166 | $0.00 | $0 |
| 2026-07-24 | Petno Douglas B Co-President; CEO CIB | Gift | 864 | $0.00 | $0 |
| 2026-06-30 | Rometty Virginia M Director | Grant | 122 | $327.33 | $40k |
| 2026-06-30 | Novakovic Phebe N Director | Grant | 122 | $327.33 | $40k |
| 2026-06-30 | Hobson Mellody L Director | Grant | 137 | $327.33 | $45k |
| 2026-06-30 | Burke Stephen B Director | Grant | 172 | $327.33 | $56k |
| 2026-06-24 | Piepszak Jennifer Chief Operating Officer | Grant | 60,214 | $0.00 | — |
| 2026-06-24 | Rohrbaugh Troy L Co-President; CEO CCB | Grant | 90,321 | $0.00 | — |
| 2026-06-24 | Petno Douglas B Co-President; CEO CIB | Grant | 90,321 | $0.00 | — |
| 2026-06-24 | Erdoes Mary E. CEO Asset & Wealth Management | Grant | 60,214 | $0.00 | — |
| 2026-06-22 | Friedman Stacey General Counsel | 10b5-1 plan sale | 5,467 | $330.73 | $1.8m |
| 2026-05-20 | Friedman Stacey General Counsel | 10b5-1 plan sale | 5,468 | $300.27 | $1.6m |
| 2026-05-15 | Lake Marianne CEO CCB | 10b5-1 plan saleindirect | 6,427 | $298.36 | $1.9m |
| 2026-05-15 | Erdoes Mary E. CEO Asset & Wealth Management | 10b5-1 plan sale | 6,648 | $298.36 | $2.0m |
| 2026-05-15 | Beer Lori A Chief Information Officer | 10b5-1 plan sale | 3,165 | $300.05 | $950k |
| 2026-05-15 | 3 co-filers Co-CEO CIB | 10b5-1 plan sale | 5,659 | $300.05 | $1.7m |
| 2026-05-14 | 3 co-filers Co-CEO CIB | Gift | 135,027 | $0.00 | $0 |
| 2026-05-14 | 3 co-filers Co-CEO CIB | Giftindirect | 135,027 | $0.00 | $0 |
| 2026-05-05 | Barnum Jeremy Chief Financial Officer | 10b5-1 plan sale | 3,022 | $309.41 | $935k |
| 2026-05-05 | Bacon Ashley Chief Risk Officer | 10b5-1 plan sale | 4,070 | $309.42 | $1.3m |
| 2026-05-05 | Piepszak Jennifer Chief Operating Officer | 10b5-1 plan sale | 4,919 | $309.42 | $1.5m |
| 2026-04-15 | Bacon Ashley Chief Risk Officer | 10b5-1 plan sale | 7,558 | $306.55 | $2.3m |
| 2026-04-15 | Dimon James Chairman & CEO | 10b5-1 plan sale | 130,488 | $306.56 | $40.0m |
| 2026-04-15 | Erdoes Mary E. CEO Asset & Wealth Management | 10b5-1 plan sale | 12,345 | $306.57 | $3.8m |
| 2026-04-15 | Piepszak Jennifer Chief Operating Officer | 10b5-1 plan sale | 9,136 | $306.56 | $2.8m |
| 2026-04-15 | Petno Douglas B Co-CEO CIB | 10b5-1 plan sale | 5,660 | $306.58 | $1.7m |
| 2026-04-15 | Lake Marianne CEO CCB | 10b5-1 plan saleindirect | 6,427 | $306.57 | $2.0m |
| 2026-04-15 | Beer Lori A Chief Information Officer | 10b5-1 plan sale | 3,166 | $306.59 | $971k |
| 2026-04-15 | Barnum Jeremy Chief Financial Officer | 10b5-1 plan sale | 5,611 | $306.55 | $1.7m |
| 2026-03-31 | Rometty Virginia M Director | Grant | 136 | $294.16 | $40k |
| 2026-03-31 | Novakovic Phebe N Director | Grant | 136 | $294.16 | $40k |
| 2026-03-31 | Hobson Mellody L Director | Grant | 153 | $294.16 | $45k |
| 2026-03-31 | Burke Stephen B Director | Grant | 191 | $294.16 | $56k |