JPMorgan Chase & Co.
JPMNYSE
$332.32
Last price · USD
- Market cap
- $924.3B
- P/E
- 16.6x
- EV / EBITDA
- 18.7x
- P/S
- 3.3x
- FCF yield
- -16.0%
- Div. yield
- 1.80%
Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.
JPMorgan Chase & Co. cash flow statement
Annual · USD millions except per-share data · 33 lines
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 | CAGR | |
|---|---|---|---|---|---|---|---|
| Operating activities | |||||||
| Net income | 57,048 | 58,471 | 49,552 | 37,676 | 48,334 | +4.2% | |
| Depreciation & amortization | 8,821 | 7,938 | 7,512 | 7,051 | 7,932 | +2.7% | |
| Deferred income tax | 5,611 | 2,004 | (4,534) | (2,738) | 3,748 | +10.6% | |
| Change in working capital | (218,801) | (114,220) | (56,168) | 32,686 | 35,901 | — | |
| Accounts receivables | (11,514) | 5,735 | 19,928 | (22,970) | (12,401) | — | |
| Accounts payables | 5,270 | (90) | (25,388) | 58,614 | 43,162 | -40.9% | |
| Other working capital | (212,557) | (119,865) | (50,708) | (2,958) | 5,140 | — | |
| Other non-cash items | (461) | 3,795 | 16,612 | 32,444 | (17,831) | — | |
| Net cash from operating activities | (147,782) | (42,012) | 12,974 | 107,119 | 78,084 | — | |
| Operating cash flow | (147,782) | (42,012) | 12,974 | 107,119 | 78,084 | — | |
| Investing activities | |||||||
| Acquisitions, net | 0 | (2,362) | (9,920) | 0 | 0 | — | |
| Purchases of investments | (314,204) | (357,421) | (119,640) | (159,934) | (360,541) | — | |
| Sales / maturities of investments | 233,500 | 242,487 | 215,234 | 172,401 | 263,720 | -3.0% | |
| Other investing activities | (184,861) | (46,107) | (18,031) | (150,286) | (32,523) | — | |
| Net cash from investing activities | (265,565) | (163,403) | 67,643 | (137,819) | (129,344) | — | |
| Financing activities | |||||||
| Net debt issuance | 166,996 | 20,749 | 8,603 | 23,902 | 35,250 | +47.5% | |
| Short-term net debt issuance | 154,957 | 7,439 | (1,934) | (8,984) | 7,773 | +111.3% | |
| Long-term net debt issuance | 12,039 | 13,310 | 10,537 | 32,886 | 27,477 | -18.6% | |
| Net stock issuance | (31,591) | (26,180) | (9,824) | (10,596) | (13,633) | — | |
| Common stock issuance | 3,000 | 2,500 | 0 | 0 | 7,350 | -20.1% | |
| Common stock repurchased | (34,591) | (28,680) | (9,824) | (10,596) | (20,983) | — | |
| Net common stock issuance | (31,591) | (26,180) | (9,824) | (10,596) | (13,633) | — | |
| Common dividends paid | (16,625) | (14,783) | (13,463) | (13,562) | (12,858) | — | |
| Net dividends paid | (16,625) | (14,783) | (13,463) | (13,562) | (12,858) | — | |
| Other financing activities | 150,753 | 83,661 | (10,887) | (126,001) | 267,234 | -13.3% | |
| Net cash from financing activities | 269,533 | 63,447 | (25,571) | (126,257) | 275,993 | -0.6% | |
| Cash summary | |||||||
| Effect of forex changes on cash | 17,835 | (12,866) | 1,871 | (16,643) | (11,508) | — | |
| Net change in cash | (125,979) | (154,834) | 56,917 | (173,600) | 213,225 | — | |
| Cash at beginning of period | 469,317 | 624,151 | 567,234 | 740,834 | 527,609 | -2.9% | |
| Cash at end of period | 343,338 | 469,317 | 624,151 | 567,234 | 740,834 | -17.5% | |
| Free cash flow | (147,782) | (42,012) | 12,974 | 107,119 | 78,084 | — | |
| Income taxes paid | 5,309 | 11,715 | 9,908 | 4,355 | 18,737 | -27.0% | |
| Interest paid | 96,436 | 99,642 | 77,114 | 23,143 | 5,142 | +108.1% | |