JPMORGAN CHASE & CO
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
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Three-Year Summary of Consolidated Financial Highlights
Financial
THREE-YEAR SUMMARY OF CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)
| As of or for the year ended December 31,(in millions, except per share, ratio, employee data and where otherwise noted) | |||||
|---|---|---|---|---|---|
| 2025 · 2024 · 2023 | |||||
| Selected income statement data | |||||
| Total net revenue | $182,447 | $177,556(g) | $158,104 | ||
| Total noninterest expense | 95,640 | 91,797(g) | 87,172 | ||
| Pre-provision profit(a) | 86,807 | 85,759 | 70,932 | ||
| Provision for credit losses | 14,212(e) | 10,678 | 9,320 | ||
| Income before income tax expense | 72,595 | 75,081 | 61,612 | ||
| Income tax expense | 15,547 | 16,610 | 12,060 | ||
| Net income | $57,048 | $58,471 | $49,552 | ||
| Earnings per share data | |||||
| Net income: Basic | $20.05 | $19.79 | $16.25 | ||
| Diluted | 20.02 | 19.75 | 16.23 | ||
| Average shares: Basic | 2,776.5 | 2,873.9 | 2,938.6 | ||
| Diluted | 2,781.5 | 2,879.0 | 2,943.1 | ||
| Market and per common share data | |||||
| Market capitalization | 868,793 | 670,618 | 489,320 | ||
| Common shares at period-end | 2,696.2 | 2,797.6 | 2,876.6 | ||
| Book value per share | 126.99 | 116.07 | 104.45 | ||
| Tangible book value per share (“TBVPS”)(a) | 107.56 | 97.30 | 86.08 | ||
| Cash dividends declared per share | 5.80 | 4.80 | 4.10 | ||
| Selected ratios and metrics | |||||
| Return on common equity (“ROE”) | 17 | % | 18 | % | 17% |
| Return on tangible common equity (“ROTCE”)(a) | 20 | 22 | 21 | ||
| Return on assets (“ROA”) | 1.29 | 1.43 | 1.30 | ||
| Overhead ratio | 52 | 52 | 55 | ||
| Loans-to-deposits ratio | 58 | 56 | 55 | ||
| Firm Liquidity coverage ratio (“LCR”) (average)(b) | 111 | 113 | 113 | ||
| JPMorgan Chase Bank, N.A. LCR (average)(b) | 115 | 124 | 129 | ||
| Common equity Tier 1 (“CET1”) capital ratio – Standardized(c)(d) | 14.6(f) | 15.7 | 15.0 | ||
| Tier 1 capital ratio – Standardized(c)(d) | 15.5(f) | 16.8 | 16.6 | ||
| Total capital ratio – Standardized(c)(d) | 17.4(f) | 18.5 | 18.5 | ||
| Tier 1 leverage ratio(b)(c) | 6.9 | 7.2 | 7.2 | ||
| Supplementary leverage ratio (“SLR”)(b)(c) | 5.8 | 6.1 | 6.1 | ||
| Selected balance sheet data (period-end) | |||||
| Trading assets | $802,873 | $637,784 | $540,607 | ||
| Investment securities, net of allowance for credit losses | 777,332 | 681,320 | 571,552 | ||
| Loans | 1,493,429 | 1,347,988 | 1,323,706 | ||
| Total assets | 4,424,900 | 4,002,814 | 3,875,393 | ||
| Deposits | 2,559,320 | 2,406,032 | 2,400,688 | ||
| Long-term debt | 435,206 | 401,418 | 391,825 | ||
| Common stockholders’ equity | 342,393 | 324,708 | 300,474 | ||
| Total stockholders’ equity | 362,438 | 344,758 | 327,878 | ||
| Employees | 318,512 | 317,233 | 309,926 | ||
| Credit quality metrics | |||||
| Allowances for credit losses | $31,230 | $26,866 | $24,765 | ||
| Allowance for loan losses to total retained loans | 1.83 | % | 1.87 | % | 1.75% |
| Nonperforming assets | $10,359 | $9,300 | $7,597 | ||
| Net charge-offs | 9,849 | 8,638 | 6,209 | ||
| Net charge-off rate | 0.74 | % | 0.68 | % | 0.52% |
(a)Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Tangible common equity (“TCE”) is also a non-GAAP financial measure. Refer to Explanation and Reconciliation of the Firm’s Use of Non-GAAP Financial Measures on pages 59–61 for a discussion of these measures.
(b)For the years ended December 31, 2025, 2024 and 2023, the percentage represents average ratios for the three months ended December 31, 2025, 2024 and 2023.
(c)As of January 1, 2025, the benefit from the Current Expected Credit Losses (“CECL”) capital transition provision had been fully phased out. For the years ended December 31, 2024 and 2023, the ratios reflected the CECL capital transition provisions. Refer to Note 27 for additional information.
(d)As of December 31, 2025, the Advanced risk-based ratios became more binding on the Firm than the Standardized risk-based ratios. Refer to Capital Risk Management on pages 89–99 for additional information.
(e)Includes a provision for lending-related commitments of $2.2 billion related to the Apple Card transaction. Refer to Executive Overview on page 47 for additional information.
(f)Includes a decrease of approximately 25 basis points under the Standardized approach related to the Apple Card transaction. Refer to Capital Risk Management on pages 89–99 for additional information.
(g)Total net revenue included a $7.9 billion net gain related to Visa shares, and total noninterest expense included a $1.0 billion contribution of Visa shares to the JPMorgan Chase Foundation, both recorded in the second quarter of 2024. Refer to Note 6 for additional information.
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