Companies · JPM
JPMorgan Chase
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Latest analysis
Updated Nov 3, 2026
JPM Q3 2026: Net charge-offs rise amid persistent CRE office stress; goodwill stable but impairment risk flagged.
JPMorgan Chase reports stable goodwill of $52.7 billion as of Q3 2026 with no impairment charges, but explicitly flags that unanticipated declines in business performance, increases in credit losses, increases in capital requirements, and deterioration in economic or market conditions could trigger material future impairment charges. Mortgage servicing rights fair value increased to $9.8 billion from $9.2 billion year-over-year, driven by rising market interest rates offsetting lower prepayment speeds. The filing introduces explicit language about credit loss and capital requirement sensitivity as impairment triggers, a material shift in risk disclosure that reflects tightening credit conditions and potential regulatory capital headwinds.
Tone: cautiousRevenue
$182.4B
JPM 10-K · FY 2025
Employees
318,512
Revenue FY2024
$177.6B
Founded
1968
Profile
JPM 10-K Item 1 · Feb 13, 2026JPMorgan Chase & Co. is a leading U.S.-headquartered financial holding company with $4.4 trillion in assets and operations worldwide. The Firm operates across investment banking, consumer and small business financial services, commercial banking, financial transaction processing, and asset management. It serves millions of retail customers primarily in the U.S. as well as prominent corporate, institutional, and government clients globally under the J.P. Morgan and Chase brands.
Read filing description ↓ Collapse description ↑
JPMorganChase & Co. ('JPMorganChase' or the 'Firm', NYSE: JPM), a financial holding company incorporated under Delaware law in 1968, is a leading financial services firm based in the United States of America ('U.S.'), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362.4 billion in stockholders' equity as of December 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers, predominantly in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. JPMorganChase's principal bank subsidiary is JPMorgan Chase Bank, National Association ('JPMorgan Chase Bank, N.A.'), a national banking association with U.S. branches in 48 states and Washington, D.C. JPMorganChase's principal non-bank subsidiary is J.P. Morgan Securities LLC ('J.P. Morgan Securities'), a U.S. broker-dealer. The bank and non-bank subsidiaries of JPMorganChase operate nationally as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. The Firm's principal operating subsidiaries outside the U.S. are J.P. Morgan Securities plc and J.P. Morgan SE ('JPMSE'), which are subsidiaries of JPMorgan Chase Bank, N.A. and are based in the United Kingdom ('U.K.') and Germany, respectively.
Primary products
- Investment banking
- Financial services for consumers and small businesses
- Commercial banking
- Financial transaction processing
- Asset management
- Wealth management
Business segments
End markets
Geographies
Named competitors
“The Firm's businesses generally compete on the basis of the quality and variety of the Firm's products and services, transaction execution, innovation, reputation and price.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total net revenue increased from $177.6 billion in 2024 to $182.4 billion in 2025, driven by higher noninterest revenue and net interest income across the Firm's reportable segments.
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