JPMORGAN CHASE & CO
For the period ended Mar 31, 2026. Filed May 1, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 1, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Financial Highlights
Consolidated financial highlights (unaudited)
| As of or for the period ended, (in millions, except per share, ratio, employee data and where otherwise noted) | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1Q26 · 4Q25 · 3Q25 · 2Q25 · 1Q25 | ||||||||
| Selected income statement data | ||||||||
| Total net revenue | $49,836 | $45,798 | $46,427 | $44,912 | $45,310 | |||
| Total noninterest expense | 26,850 | 23,983 | 24,281 | 23,779 | 23,597 | |||
| Pre-provision profit(a) | 22,986 | 21,815 | 22,146 | 21,133 | 21,713 | |||
| Provision for credit losses | 2,507 | 4,655(d) | 3,403 | 2,849 | 3,305 | |||
| Income before income tax expense | 20,479 | 17,160 | 18,743 | 18,284 | 18,408 | |||
| Income tax expense | 3,985 | 4,135 | 4,350 | 3,297 | 3,765 | |||
| Net income | $16,494 | $13,025 | $14,393 | $14,987 | $14,643 | |||
| Earnings per share data | ||||||||
| Net income: Basic | $5.95 | $4.64 | $5.08 | $5.25 | $5.08 | |||
| Diluted | 5.94 | 4.63 | 5.07 | 5.24 | 5.07 | |||
| Average shares: Basic | 2,716.2 | 2,735.3 | 2,762.4 | 2,788.7 | 2,819.4 | |||
| Diluted | 2,720.2 | 2,740.5 | 2,767.6 | 2,793.7 | 2,824.3 | |||
| Market and per common share data | ||||||||
| Market capitalization | $788,205 | $868,793 | $858,683 | $797,181 | $681,712 | |||
| Common shares at period-end | 2,679.5 | 2,696.2 | 2,722.2 | 2,749.7 | 2,779.1 | |||
| Book value per share | $128.38 | $126.99 | $124.96 | $122.51 | $119.24 | |||
| Tangible book value per share (“TBVPS”)(a) | 108.87 | 107.56 | 105.70 | 103.40 | 100.36 | |||
| Cash dividends declared per share | 1.50 | 1.50 | 1.50 | 1.40 | 1.40 | |||
| Selected ratios and metrics | ||||||||
| Return on common equity (“ROE”)(b) | 19 | % | 15 | % | 17% | 18% | 18 | % |
| Return on tangible common equity (“ROTCE”)(a)(b) | 23 | 18 | 20 | 21 | 21 | |||
| Return on assets(b) | 1.41 | 1.14 | 1.26 | 1.35 | 1.40 | |||
| Overhead ratio | 54 | 52 | 52 | 53 | 52 | |||
| Loans-to-deposits ratio | 56 | 58 | 56 | 55 | 54 | |||
| Firm Liquidity coverage ratio (“LCR”) (average) | 112 | 111 | 110 | 113 | 113 | |||
| JPMorgan Chase Bank, N.A. LCR (average) | 120 | 115 | 117 | 120 | 124 | |||
| Common equity Tier 1 (“CET1”) capital ratio – Standardized(c) | 14.3 | 14.6 | 14.8 | 15.1 | 15.4 | |||
| Tier 1 capital ratio – Standardized(c) | 15.2 | 15.5 | 15.8 | 16.1 | 16.5 | |||
| Total capital ratio – Standardized(c) | 17.2 | 17.4 | 17.7 | 17.8 | 18.2 | |||
| Tier 1 leverage ratio | 6.6 | 6.9 | 6.9 | 6.9 | 7.2 | |||
| Supplementary leverage ratio (“SLR”) | 5.6 | 5.8 | 5.8 | 5.9 | 6.0 | |||
| Selected balance sheet data (period-end) | ||||||||
| Trading assets | $1,069,335 | $802,873 | $952,777 | $889,856 | $875,203 | |||
| Investment securities, net of allowance for credit losses | 821,179 | 777,332 | 783,945 | 745,939 | 664,447 | |||
| Loans | 1,503,520 | 1,493,429 | 1,435,246 | 1,411,992 | 1,355,695 | |||
| Total assets | 4,900,475 | 4,424,900 | 4,560,205 | 4,552,482 | 4,357,856 | |||
| Deposits | 2,675,520 | 2,559,320 | 2,548,476 | 2,562,380 | 2,495,877 | |||
| Long-term debt | 448,764 | 435,206 | 427,203 | 419,802 | 407,224 | |||
| Common stockholders’ equity | 343,993 | 342,393 | 340,167 | 336,879 | 331,375 | |||
| Total stockholders’ equity | 364,038 | 362,438 | 360,212 | 356,924 | 351,420 | |||
| Employees | 320,079 | 318,512 | 318,153 | 317,160 | 318,477 | |||
| Credit quality metrics | ||||||||
| Allowances for credit losses | $31,383 | $31,230 | $29,089 | $28,281 | $27,835 | |||
| Allowance for loan losses to total retained loans | 1.82 | % | 1.83 | % | 1.88% | 1.85% | 1.94 | % |
| Nonperforming assets | $10,049 | $10,359 | $10,635 | $10,480 | $9,105 | |||
| Net charge-offs | 2,316 | 2,514 | 2,593 | 2,410 | 2,332 | |||
| Net charge-off rate | 0.67 | % | 0.72 | % | 0.76% | 0.73% | 0.74 | % |
On January 7, 2026, JPMorganChase announced that Chase will become the new issuer of Apple Card. The Firm entered into a forward purchase commitment on December 30, 2025 to acquire the Apple credit card portfolio (the “Apple Card transaction”), with an expected closing date approximately 24 months thereafter. Refer to Notes 4, 13, 27 and 28 of JPMorganChase’s 2025 Form 10-K for additional information.
(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 15-16 for a further discussion of these measures.
(b)Ratios are based upon annualized amounts.
(c)At each of March 31, 2026 and December 31, 2025, the Advanced risk-based ratios were more binding on the Firm than the Standardized risk-based ratios. Refer to Capital Risk Management on pages 33-40 of this Form 10-Q and pages 89–99 of JPMorganChase’s 2025 Form 10-K for additional information.
(d)Included $2.2 billion associated with the Apple Card transaction. Refer to Note 13 of JPMorganChase’s 2025 Form 10-K for additional information.
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