The bank's total assets reached $4.9 trillion in 2026Q1, supported by a robust equity-to-assets ratio of 0.07 that underscores its fortress capital philosophy.
JPMorgan Chase & Co. (JPM) balance sheet — 30-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 7.54T | 1.48T | 1.37T | 1.23T | 1.12T | 1.36T | 883.56B | 604B | 509.19B | 633.53B | 628.53B | 602.26B | 811.06B | 685.8B | 546.68B | 509.66B | 365.56B | 449.8B | 370.94B | 137.02B | 145.88B | 88.24B | 56.85B | 30.44B | 28.16B | 35.34B | 32.3B | 44.3B | 24.28B | 18.59B | 22.95B |
| Cash & Due from Banks | 326.27B | 343.34B | 469.32B | 624.15B | 567.23B | 740.83B | 527.61B | 263.63B | 278.79B | 431.3B | 389.63B | 360.5B | 512.31B | 355.82B | 175.54B | 144.88B | 49.24B | 89.44B | 165.03B | 51.61B | 53.96B | 58.33B | 56.85B | 30.44B | 28.16B | 35.34B | 32.3B | 44.3B | 24.28B | 18.59B | 22.95B |
| Short Term Investments | 2.38T | 1.14T | 898.4B | 604.1B | 556.81B | 621.12B | 355.95B | 340.37B | 230.39B | 202.22B | 238.89B | 241.75B | 298.75B | 329.98B | 371.14B | 364.78B | 316.32B | 360.37B | 205.91B | 85.41B | 91.92B | 29.91B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 3.94T | 2.87T | 2.5T | 2.28T | 2.1T | 2.05T | 1.54T | 1.37T | 1.23T | 1.22T | 1.24T | 1.12T | 1.18T | 1.15T | 1.16T | 1.15T | 977B | 962.25B | 927.68B | 595.59B | 574.18B | 448.42B | 544.47B | 324.32B | 337.85B | 318.46B | 318.45B | 234.22B | 233.69B | 217.57B | 200.09B |
| Investments Growth % | 89.25% | 15.13% | 9.73% | 8.45% | 2.54% | 32.67% | 12.38% | 11.31% | 0.77% | -0.99% | 10.69% | -5.04% | 2.28% | -0.74% | 0.4% | 18.05% | 1.53% | 3.73% | 55.76% | 3.73% | 28.05% | -17.64% | 67.88% | -4% | 6.09% | 0% | 35.97% | 0.22% | 7.41% | 8.74% | 74.68% |
| Long-Term Investments | 6.75T | 1.74T | 1.6T | 1.67T | 1.54T | 1.43T | 1.19T | 1.03T | 1T | 1.02T | 996.91B | 874.68B | 876.88B | 819.45B | 786.85B | 788.6B | 660.68B | 601.88B | 721.77B | 510.18B | 482.26B | 418.51B | 544.47B | 324.32B | 337.85B | 318.46B | 318.45B | 234.22B | 233.69B | 217.57B | 200.09B |
| Accounts Receivables | 165B | 111.6B | 101.22B | 107.36B | 125.19B | 102.57B | 90.5B | 72.86B | 73.2B | 67.73B | 52.33B | 46.6B | 70.08B | 65.16B | 60.93B | 61.48B | 70.15B | 67.43B | 60.99B | 24.82B | 22.89B | 52.16B | 21.41B | 12.36B | 14.14B | 14.8B | 20.62B | 2.5B | 2.32B | 3.36B | 3.02B |
| Goodwill & Intangibles | 64.87B | 64.46B | 64.56B | 64.38B | 60.86B | 56.69B | 53.43B | 53.34B | 54.35B | 54.39B | 54.25B | 54.95B | 56.27B | 59.31B | 58.02B | 58.62B | 66.54B | 68.51B | 63.01B | 60B | 60.04B | 58.18B | 57.89B | 14.99B | 8.4B | 14.8B | 20.62B | 0 | 0 | 0 | 0 |
| Goodwill | 64.87B | 52.73B | 52.56B | 52.63B | 51.66B | 50.31B | 49.25B | 47.82B | 47.47B | 47.51B | 47.29B | 47.33B | 47.65B | 48.08B | 48.17B | 48.19B | 48.85B | 48.36B | 48.03B | 45.27B | 45.19B | 43.62B | 43.2B | 8.51B | 8.1B | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 11.73B | 11.99B | 11.75B | 9.2B | 6.38B | 4.18B | 5.52B | 6.88B | 6.88B | 6.96B | 7.62B | 8.63B | 11.23B | 9.85B | 10.43B | 17.69B | 20.15B | 14.98B | 14.73B | 14.85B | 14.56B | 14.68B | 6.48B | 307M | 14.8B | 20.62B | 0 | 0 | 0 | 0 |
| PP&E (Net) | 38.68B | 36.24B | 32.22B | 30.16B | 27.73B | 27.07B | 27.11B | 25.81B | 14.93B | 14.16B | 14.13B | 14.36B | 15.13B | 14.89B | 14.52B | 14.04B | 13.36B | 11.12B | 10.04B | 9.32B | 8.73B | 9.08B | 9.14B | 6.49B | 6.83B | 6.29B | 7.09B | 4.44B | 4.05B | 3.78B | 3.64B |
| Other Assets | 231.54B | 708.86B | 619.43B | 573.67B | 601.32B | 564.17B | 1.14T | 899.32B | 968.32B | 742.44B | 744.83B | 758.85B | 742.85B | 771.08B | 892.13B | 833.39B | 941.32B | 833.25B | 948.3B | 820.8B | 631.72B | 572.77B | 435.77B | 382.31B | 358.92B | 303.34B | 321.05B | 120.64B | 101.53B | 122.22B | 106.4B |
| Total Current Assets | 3.2T | 1.88T | 1.69T | 1.54T | 1.43T | 1.67T | 974.06B | 676.87B | 582.39B | 701.26B | 680.86B | 648.86B | 881.14B | 750.96B | 607.62B | 571.14B | 435.7B | 517.23B | 431.93B | 161.84B | 168.77B | 140.4B | 109.98B | 42.8B | 42.3B | 50.14B | 52.92B | 46.81B | 26.6B | 21.95B | 25.97B |
| Total Non-Current Assets | 1.89T | 2.55T | 2.31T | 2.34T | 2.23T | 2.07T | 2.41T | 2.01T | 2.04T | 1.83T | 1.81T | 1.7T | 1.69T | 1.66T | 1.75T | 1.69T | 1.68T | 1.51T | 1.74T | 1.4T | 1.18T | 1.06T | 1.05T | 728.11B | 716.5B | 643.43B | 662.42B | 359.3B | 339.28B | 343.57B | 310.13B |
| Total Assets | 5.09T | 4.42T | 4T | 3.88T | 3.67T | 3.74T | 3.38T | 2.69T | 2.62T | 2.53T | 2.49T | 2.35T | 2.57T | 2.42T | 2.36T | 2.27T | 2.12T | 2.03T | 2.18T | 1.56T | 1.35T | 1.2T | 1.16T | 770.91B | 758.8B | 693.58B | 715.35B | 406.11B | 365.88B | 365.52B | 336.1B |
| Asset Growth % | 42.97% | 10.54% | 3.29% | 5.72% | -2.08% | 10.6% | 25.95% | 2.47% | 3.51% | 1.71% | 5.92% | -8.58% | 6.48% | 2.4% | 4.12% | 7% | 4.21% | -6.58% | 39.23% | 15.58% | 12.73% | 3.6% | 50.11% | 1.6% | 9.4% | -3.04% | 76.15% | 11% | 0.1% | 8.75% | 83.73% |
| Return on Assets (ROA) | 1.25% | 1.35% | 1.48% | 1.31% | 1.02% | 1.36% | 0.96% | 1.37% | 1.26% | 0.97% | 1.02% | 0.99% | 0.87% | 0.75% | 0.89% | 0.83% | 0.79% | 0.48% | 0.3% | 1.05% | 1.13% | 0.72% | 0.46% | 0.88% | 0.23% | 0.24% | 1.02% | 1.94% | 1.03% | 1.06% | 0.95% |
| Accounts Payable | 0 | 186.66B | 153.15B | 161.96B | 188.69B | 169.17B | 140.29B | 118.38B | 114.79B | 102.73B | 109.84B | 107.63B | 134.47B | 194.49B | 195.24B | 202.9B | 170.33B | 162.7B | 187.98B | 54.4B | 88.1B | 78.46B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 1.23T | 942.38B | 751.15B | 653.07B | 542.5B | 548.94B | 542.1B | 516.09B | 533.63B | 494.8B | 495.35B | 478B | 565.05B | 534.89B | 571.13B | 543.85B | 616.99B | 625.26B | 633.47B | 431.84B | 344.7B | 270.15B | 255.15B | 191.46B | 240.21B | 201.41B | 219.73B | 83.94B | 75.03B | 82.86B | 80.91B |
| Net Debt | 908.62B | 599.04B | 281.83B | 28.92B | -24.73B | -191.9B | 14.49B | 252.46B | 254.83B | 63.49B | 105.72B | 117.49B | 52.74B | 179.07B | 395.59B | 398.96B | 567.75B | 535.83B | 468.44B | 380.23B | 290.75B | 211.82B | 198.3B | 161.01B | 212.05B | 166.07B | 187.42B | 39.64B | 50.75B | 64.27B | 57.96B |
| Long-Term Debt | 460.16B | 433.97B | 401.42B | 391.82B | 295.87B | 301B | 281.69B | 291.5B | 282.03B | 284.08B | 295.25B | 309.76B | 306.6B | 295.88B | 275.66B | 256.77B | 304.98B | 322.06B | 391.89B | 227.84B | 163.68B | 130.37B | 105.72B | 54.78B | 45.19B | 43.62B | 43.3B | 20.14B | 18.38B | 15.13B | 13.31B |
| Short-Term Debt | 774.73B | 508.41B | 349.73B | 261.25B | 246.64B | 247.93B | 260.42B | 224.59B | 251.6B | 210.72B | 200.11B | 168.24B | 258.44B | 239.01B | 295.47B | 287.07B | 312.01B | 303.21B | 241.58B | 203.99B | 181.02B | 139.79B | 149.43B | 136.68B | 195.02B | 157.79B | 176.43B | 63.8B | 56.66B | 67.73B | 67.6B |
| Other Liabilities | 405.58B | 43.95B | 41.72B | 36.22B | 23.91B | 20.55B | 25.28B | 24.24B | 26.04B | 30.98B | 42.85B | 111.89B | 124.79B | 49.62B | 63.19B | 65.98B | 77.65B | 15.22B | 10.56B | 54.09B | 104.28B | 120.66B | 151.21B | 149.45B | 133.09B | 109.05B | 128.67B | 39.2B | 39.73B | 54.16B | 40.41B |
| Total Current Liabilities | 3.85T | 3.58T | 3.21T | 3.12T | 3.05T | 3.13T | 2.8T | 2.11T | 2.06T | 1.96T | 1.9T | 1.68T | 1.91T | 1.86T | 1.82T | 1.76T | 1.56T | 1.53T | 1.61T | 1.16T | 967.77B | 840.71B | 746.61B | 508.23B | 538.21B | 499.25B | 496.55B | 322.6B | 283.39B | 273.94B | 260.83B |
| Total Non-Current Liabilities | 865.74B | 477.92B | 443.14B | 428.05B | 319.77B | 321.56B | 306.96B | 315.74B | 308.07B | 315.06B | 338.09B | 421.64B | 431.39B | 345.5B | 338.85B | 322.75B | 382.63B | 337.28B | 402.45B | 281.94B | 267.96B | 251.02B | 256.93B | 204.23B | 178.28B | 152.67B | 171.97B | 59.34B | 58.1B | 69.28B | 53.73B |
| Total Liabilities | 4.72T | 4.06T | 3.66T | 3.55T | 3.37T | 3.45T | 3.11T | 2.43T | 2.37T | 2.28T | 2.24T | 2.1T | 2.34T | 2.2T | 2.16T | 2.08T | 1.94T | 1.87T | 2.01T | 1.44T | 1.24T | 1.09T | 1T | 712.46B | 716.49B | 651.93B | 668.52B | 381.94B | 341.49B | 343.23B | 314.56B |
| Total Equity | 372.37B | 362.44B | 344.76B | 327.88B | 292.33B | 294.13B | 279.35B | 261.33B | 256.51B | 255.69B | 254.19B | 247.57B | 231.73B | 211.18B | 204.07B | 183.57B | 176.11B | 165.37B | 177.44B | 137.24B | 131.97B | 107.21B | 153.71B | 58.45B | 42.31B | 41.65B | 46.83B | 24.17B | 24.39B | 22.29B | 21.54B |
| Equity Growth % | 16.25% | 5.13% | 5.15% | 12.16% | -0.61% | 5.29% | 6.9% | 1.88% | 0.32% | 0.59% | 2.67% | 6.84% | 9.73% | 3.48% | 11.16% | 4.24% | 6.5% | -6.81% | 29.3% | 3.99% | 23.1% | -30.25% | 162.99% | 38.16% | 1.58% | -11.06% | 93.76% | -0.91% | 9.4% | 3.47% | 80.86% |
| Equity / Assets (Capital Ratio) | 7.31% | 8.19% | 8.61% | 8.46% | 7.97% | 7.86% | 8.25% | 9.72% | 9.78% | 10.09% | 10.2% | 10.53% | 9.01% | 8.74% | 8.65% | 8.1% | 8.32% | 8.14% | 8.16% | 8.79% | 9.76% | 8.94% | 13.28% | 7.58% | 5.58% | 6% | 6.55% | 5.95% | 6.67% | 6.1% | 6.41% |
| Return on Equity (ROE) | 16.23% | 16.13% | 17.39% | 15.98% | 12.85% | 16.86% | 10.78% | 14.07% | 12.68% | 9.59% | 9.86% | 10.2% | 9.82% | 8.61% | 10.59% | 10.12% | 9.61% | 5.85% | 3.56% | 11.41% | 12.08% | 6.5% | 4.21% | 13.34% | 3.96% | 3.83% | 16.13% | 30.9% | 16.2% | 16.92% | 14.71% |
| Book Value per Share | 138.79 | 129.73 | 119.75 | 111.41 | 98.43 | 97.18 | 90.48 | 80.90 | 75.14 | 71.49 | 69.64 | 65.58 | 61.02 | 55.35 | 53.39 | 46.83 | 44.28 | 42.62 | 49.22 | 39.83 | 36.93 | 30.14 | 53.92 | 28.44 | 21.06 | 20.58 | 23.78 | 19.38 | 18.70 | 16.92 | 15.84 |
| Tangible BV per Share | 114.61 | 106.66 | 97.32 | 89.53 | 77.94 | 78.45 | 73.18 | 64.38 | 59.22 | 56.28 | 54.78 | 51.02 | 46.20 | 39.81 | 38.21 | 31.87 | 27.55 | 24.96 | 31.74 | 22.42 | 20.13 | 13.78 | 33.61 | 21.15 | 16.88 | 13.27 | 13.31 | 19.38 | 18.70 | 16.92 | 15.84 |
| Common Stock | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 4.11B | 3.94B | 3.66B | 3.66B | 3.62B | 3.58B | 2.04B | 2.02B | 2B | 1.94B | 882M | 0 | 0 | 0 |
| Additional Paid-in Capital | 90.89B | 91.11B | 90.91B | 90.13B | 89.04B | 88.42B | 88.39B | 88.52B | 89.16B | 90.58B | 91.63B | 92.5B | 93.27B | 93.83B | 94.6B | 95.6B | 97.42B | 97.98B | 92.14B | 78.6B | 77.81B | 74.99B | 72.8B | 13.51B | 13.22B | 12.49B | 11.6B | 9.71B | 0 | 0 | 0 |
| Retained Earnings | 455.59B | 416.06B | 376.17B | 332.9B | 296.46B | 272.27B | 236.99B | 223.21B | 199.2B | 177.68B | 162.44B | 146.42B | 129.98B | 115.76B | 104.22B | 88.31B | 74B | 62.48B | 54.01B | 54.72B | 43.6B | 33.85B | 30.21B | 29.68B | 25.85B | 26.99B | 28.1B | 17.55B | 13.54B | 11.09B | 8.63B |
| Accumulated OCI | -19.82B | -4.29B | -12.46B | -10.44B | -17.34B | -84M | 7.99B | 1.57B | -1.51B | -119M | -1.18B | 192M | 2.19B | 1.2B | 4.1B | 944M | 1B | -91M | -5.69B | -917M | -1.56B | -626M | -208M | -30M | 1.23B | -442M | -241M | -1.45B | 392M | 112M | -288M |
| Treasury Stock | -179.44B | -164.59B | -134.02B | -116.22B | -107.34B | -105.42B | -88.18B | -83.05B | -60.49B | -42.59B | -28.85B | -21.69B | -17.86B | -14.85B | -12B | -13.15B | -8.16B | -7.2B | -9.25B | -12.83B | -7.72B | -4.76B | -1.07B | -62M | -1.03B | -953M | -575M | -4B | 0 | 0 | 0 |
| Preferred Stock | 21.04B | 20.05B | 20.05B | 27.4B | 27.4B | 34.84B | 30.06B | 26.99B | 26.07B | 26.07B | 26.07B | 26.07B | 20.06B | 11.16B | 9.06B | 7.8B | 7.8B | 8.15B | 31.94B | 0 | 0 | 139M | 339M | 1.01B | 1.01B | 1.01B | 2.07B | 928M | 1.03B | 1.74B | 2.65B |
Quick answers to the most common questions about buying JPM stock.
As of 2025, JPMorgan Chase & Co. (JPM) had total assets of $4.42T including $1.88T in current assets.
JPMorgan Chase & Co. (JPM) carries total debt of $942.38B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
JPMorgan Chase & Co. (JPM) has total shareholders' equity (book value) of $362.44B ($129.73 book value per share). Book value represents the net worth of the company belonging to common stock holders.
JPMorgan Chase & Co. (JPM) reported a current ratio of 0.52x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Asset-Liability Duration Mismatch
Metrics are mathematically derived from official filings.
Asset Expansion Through Strategic Deployment
According to recent quarterly filings, JPM's total assets have grown to $4.9 trillion as of 2026Q1, reflecting a deliberate shift toward increasing the investment securities portfolio, which reached $3.3 trillion, suggesting a strategic pivot to capture yield while maintaining the bank's massive scale advantage.
The expansion of the investment securities portfolio relative to total assets indicates a management preference for liquid, interest-earning assets over aggressive loan book growth in the current cycle. This trajectory suggests that the bank is prioritizing balance sheet flexibility and liquidity management to navigate potential volatility in credit markets.
Capital Buffers Sustain Fortress Philosophy
As reported in financial statements, JPM maintained an equity-to-assets ratio of 0.07 in 2026Q1, which, when viewed alongside a total equity base of $364 billion, demonstrates a robust capital position that supports the bank's ability to absorb shocks while continuing to fund strategic technology initiatives.
The stability of the equity-to-assets ratio suggests that management remains committed to its fortress balance sheet philosophy despite the pressures of regulatory capital requirements. This capital cushion appears sufficient to support ongoing dividend and buyback programs while providing a buffer against potential credit deterioration in the broader portfolio.
Liquidity Profile Remains Highly Defensive
Based on reported figures, JPM held $312.1 billion in cash and bank deposits as of 2026Q1, a significant liquidity position that, while lower than the 2023Q4 peak of $624.2 billion, continues to provide the bank with substantial flexibility to meet funding obligations and pursue opportunistic acquisitions.
The reduction in cash holdings from previous periods suggests a strategic reallocation of capital into higher-yielding investment securities rather than a decline in liquidity health. Investors should monitor whether this shift toward securities increases the bank's sensitivity to interest rate fluctuations in the coming quarters.
Securities Portfolio Duration Risk Exposure
Analysis of the balance sheet reveals that the investment securities portfolio has expanded to $3.3 trillion as of 2026Q1, which warrants further investigation into the duration profile of these assets and the potential for unrealized losses should interest rates remain elevated for an extended period.
While the bank's liquidity remains strong, the concentration of assets in the investment portfolio creates a non-obvious risk regarding interest rate sensitivity. If the duration of these securities is not perfectly hedged, the bank may face earnings volatility from mark-to-market adjustments that could impact the reported equity base.