Company profile
SEC EDGAR ↗- Industry
- National Commercial Banks
- Listed
- NYSE: JPM
- Incorporated
- DE
- Headquarters
- New York, NY
- Fiscal year end
- Dec 31
Financials
FY2025- Revenue
- $182.4B
- Net income
- $57.0B
- Total assets
- $4.42T
| Fiscal year | Revenue | Net income | Total assets |
|---|---|---|---|
| FY2025 | $182.4B | $57.0B | $4.42T |
| FY2024 | $177.6B | $58.5B | $4.00T |
| FY2023 | $158.1B | $49.6B | $3.88T |
| FY2022 | $128.7B | $37.7B | $3.67T |
| FY2021 | $121.6B | $48.3B | $3.74T |
| FY2020 | $120.0B | $29.1B | $3.38T |
Reported fiscal years from SEC filings (10-K) — SEC EDGAR ↗. Stratrix is a strategy publication, not a real-time financial data service.
Decisions on record
3 verified Decision Records on JPMorgan Chase, and the casebook each one belongs to.
| Fork date | Decision type | What JPMorgan Chase chose | Where it stood | The story | Casebook |
|---|---|---|---|---|---|
| 2020 | Succession Question | Activate existing co-presidents | The co-presidents, not Dimon, told staff he had been discharged and was 'back at home' (2020-03) | Read the story → | Succession Question Casebook → |
| 2021 | Adjacency Expansion | Buy on self-reported metric | Javice sentenced to 85 months; she and co-defendant ordered to pay over $287 million in restitution (2025) | Read the story → | Adjacency Expansion Casebook → |
| 2023 | Adjacency Expansion | Say yes to receivership | recognized a $2.6 billion one-time post-tax gain at closing (2023-05) | Read the story → | Adjacency Expansion Casebook → |
Videos on JPMorgan Chase
Run one of these yourself
The decisions JPMorgan Chase faced, as kits you can run.
Each pack takes one of these decisions and gives you the framework, a deck for the room, a model that resolves to one number, and the sourced cases behind it. $499, one-time.
Growth & PortfolioThe Adjacency ExpansionWhen does the business next door belong to you?See the pack →Crisis & ReinventionThe Crisis ResponseWhat is one more quarter of not acting worth?See the pack →Moat & CompetitionThe Moat AnatomyWhat would it actually cost a challenger to take your customer?See the pack →
The analyses
The Adjacency Expansion · Growth & Portfolio
JPMorgan Built Its $4 Trillion Empire by Saying Yes to Regulators' Fire Sales
JPMorgan Chase now sits on $4 trillion in assets. The story it tells is visionary expansion. The truth is messier: regulators kept handing it distressed balance sheets at fire-sale prices, and it kept saying yes.
8 min
The Adjacency Expansion · Growth & Portfolio
JPMorgan Bought Three Fintechs to Defend Itself. Only the Quiet Ones Worked.
JPMorgan's fintech deals are read as a bank fighting off disruption. Two of them - WePay and Nutmeg - bought real capability and doubled assets. The third, Frank, paid $175 million for fewer than 300,000 real customers and ended in an 85-month prison sentence.
8 min
The Adjacency Expansion · Growth & Portfolio
JPMorgan's Fortress Buys One Thing: the Freedom to Move When Rivals Are Frozen
The 'fortress balance sheet' gets sold as proof JPMorgan earns more. It doesn't, by much - strip the one-time Visa gain and 2024 ROTCE was 19.9%, not the headline 22%. The real moat is what 340 basis points of excess capital buys: the freedom to act when everyone else is frozen.
8 min
The Crisis Response · Crisis & Reinvention
The Government Set Bear Stearns' $2 Price; JPMorgan's Legal Bill Ran Past $19 Billion
The legend says Jamie Dimon swooped in and bought Bear Stearns for $2 a share. The $2 price was the government's idea, the deal more than quintupled in eight days, and the legal bill ran past $19 billion. Dimon's verdict: he'd never do it again.
8 min
The Moat Anatomy · Moat & Competition
JPMorgan's Flywheel: $10 Trillion Moving Daily Funds an $18 Billion Tech Budget
Everyone calls it a 'fortress balance sheet.' That's JPMorgan's own marketing. The real moat is a flywheel: $10 trillion moving daily across deposits, deals, and payments funds an $18B-plus tech budget that no single-line rival can match.
8 min
Succession Question · People & Control
JPMorgan Ran the Bank Without Dimon in March 2020 Because the Bench Was Already Built
The story is that JPMorgan named two co-presidents while Jamie Dimon was in emergency heart surgery. It didn't. Pinto and Smith had held the title for two years before the aortic dissection, and the board didn't create a plan on March 5, 2020 - it flipped a switch that was already wired.
7 min