JPMJPMORGAN CHASE & CO
National Commercial Banks
- Revenue
- $182.4B
- 2.8% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $908.7B
- Employees
- 318,512
- $573K revenue each
- Net debt / EBITDA
- —
- −$8.9B net debt
- AI in 10-K
- 1.3
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo2 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$38M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashYes-259% of net incomeCash flow under 80% of net income
- Dilutive SBCNo2% of revenueOver 10% of revenue
- Payouts exceed cash flowNo-33% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo1% of assetsOver 40% of assets
- Shareholder dissentNo83% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$573K · 92nd pctBottom quartile of its SIC industry
- Quiet on AINo1.3 per 10K words · 42nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$908.7B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$126M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $121.6B | $128.7B | $158.1B | $177.6B | $182.4B | 2.8% |
| Net income | $48.3B | $37.7B | $49.6B | $58.5B | $57.0B | 2.6% |
| Operating cash flow | $78.1B | $107.1B | $13.0B | −$42.0B | −$147.8B | 252% |
| Stock-based comp | $2.9B | $2.8B | $3.1B | $3.5B | $3.6B | 3.1% |
| Buybacks | $18.4B | $3.2B | $9.8B | $18.8B | $31.6B | 68% |
| Dividends | $12.9B | $13.6B | $13.5B | $14.8B | $16.6B | 12% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $126M · 46
- Net
- −$126M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $41M | $247M | 289 | 203 |
| FY2024 | $38M | $227M | 211 | 177 |
| FY2023 | $36M | $105M | 146 | 135 |
| FY2022 | $36M | $38M | 112 | 121 |
| FY2021 | $85M | $131M | 128 | 135 |