JPMorgan Chase & Co. (JPM) Financial Ratios
30 years of historical data (1995–2024) · Financial Services · Banks - Diversified
EV/EBITDA
↑
13.44
↑+69% vs avg
5yr avg: 7.96
30Y Low4.3·High79.7
P/FCF
↑
N/A
—
5yr avg: 16.15
30Y Low1.3·High156.1
P/B Ratio
↑
2.58
↑+63% vs avg
5yr avg: 1.58
30Y Low0.6·High2.7
ROE
↑
17.4%
↓+18% vs avg
5yr avg: 14.8%
30Y Low4%·High31%
Debt/EBITDA
↓
9.05
↓-8% vs avg
5yr avg: 9.80
30Y Low6.2·High40.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
JPM Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
JPMorgan Chase & Co. trades at 15.7x earnings, 34% above its 5-year average of 11.7x, sitting at the 67th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.3x, the stock trades at a premium of 18%.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $834.2B | $690.1B | $500.6B | $398.3B | $479.3B | $392.3B | $450.3B | $333.3B | $382.5B | $314.9B | $249.3B |
| Enterprise Value | $1.12T | $972.0B | $529.5B | $373.5B | $287.4B | $406.8B | $702.8B | $588.1B | $446.0B | $420.7B | $366.8B |
| P/E Ratio → | 15.67 | 12.14 | 10.48 | 11.09 | 10.31 | 14.31 | 13.00 | 10.85 | 16.95 | 13.94 | 11.01 |
| P/S Ratio | 3.08 | 2.55 | 2.12 | 2.59 | 3.77 | 3.02 | 3.16 | 2.57 | 3.34 | 2.96 | 2.47 |
| P/B Ratio | 2.58 | 2.00 | 1.53 | 1.36 | 1.63 | 1.40 | 1.72 | 1.30 | 1.50 | 1.24 | 1.01 |
| P/FCF | — | — | 38.59 | 3.72 | 6.14 | — | 110.05 | 21.34 | — | 14.39 | 3.39 |
| P/OCF | — | — | 38.59 | 3.72 | 6.14 | — | 110.05 | 21.34 | — | 14.39 | 3.39 |
P/E links to full P/E history page with 30-year chart
JPM EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
JPMorgan Chase & Co.'s enterprise value stands at 13.4x EBITDA, 69% above its 5-year average of 8.0x. The Financial Services sector median is 11.4x, placing the stock at a 18% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.59 | 2.24 | 2.43 | 2.26 | 3.13 | 4.93 | 4.53 | 3.89 | 3.95 | 3.63 |
| EV / EBITDA | 13.44 | 11.71 | 7.66 | 7.02 | 4.26 | 9.16 | 13.20 | 12.11 | 10.60 | 10.51 | 10.29 |
| EV / EBIT | 14.86 | 12.95 | 8.59 | 8.09 | 4.82 | 11.36 | 15.66 | 14.43 | 12.42 | 12.18 | 11.95 |
| EV / FCF | — | — | 40.82 | 3.49 | 3.68 | — | 171.74 | 37.67 | — | 19.22 | 4.99 |
JPM Profitability
Margins and return-on-capital ratios measuring operating efficiency
JPMorgan Chase & Co. earns an operating margin of 27.7%, above the Financial Services sector average of 21.4%. Operating margins have compressed from 30.0% to 27.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 17.4% indicates solid capital efficiency, compared to the sector median of 9.5%. ROIC of 5.4% represents adequate returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.6% | 58.6% | 61.7% | 78.9% | 102.9% | 78.9% | 77.3% | 80.0% | 83.3% | 85.7% | 88.8% |
| Operating Margin | 27.7% | 27.7% | 26.1% | 30.0% | 46.8% | 27.6% | 31.5% | 31.4% | 31.3% | 32.5% | 30.4% |
| Net Profit Margin | 21.6% | 21.6% | 21.0% | 24.5% | 38.0% | 22.4% | 25.6% | 25.0% | 21.3% | 23.2% | 24.2% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.4% | 17.4% | 16.0% | 12.8% | 16.9% | 10.8% | 14.1% | 12.7% | 9.6% | 9.9% | 10.2% |
| ROA | 1.5% | 1.5% | 1.3% | 1.0% | 1.4% | 1.0% | 1.4% | 1.3% | 1.0% | 1.0% | 1.0% |
| ROIC | 5.4% | 5.4% | 5.1% | 4.1% | 5.4% | 3.4% | 4.3% | 4.0% | 3.6% | 3.5% | 3.0% |
| ROCE | 8.2% | 8.2% | 8.1% | 7.5% | 9.9% | 6.2% | 7.9% | 7.2% | 6.2% | 5.5% | 4.6% |
JPM Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
JPMorgan Chase & Co. carries a Debt/EBITDA ratio of 9.0x, which is highly leveraged (120% above the sector average of 4.1x). Net debt stands at $281.8B ($751.1B total debt minus $469.3B cash). Interest coverage of just 0.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.18 | 2.18 | 1.99 | 1.86 | 1.87 | 1.94 | 1.97 | 2.08 | 1.94 | 1.95 | 1.93 |
| Debt / EBITDA | 9.05 | 9.05 | 9.45 | 10.19 | 8.13 | 12.20 | 9.69 | 10.99 | 11.76 | 12.38 | 13.41 |
| Net Debt / Equity | — | 0.82 | 0.09 | -0.08 | -0.65 | 0.05 | 0.97 | 0.99 | 0.25 | 0.42 | 0.47 |
| Net Debt / EBITDA | 3.39 | 3.39 | 0.42 | -0.46 | -2.84 | 0.33 | 4.74 | 5.25 | 1.51 | 2.64 | 3.30 |
| Debt / FCF | — | — | 2.23 | -0.23 | -2.46 | — | 61.70 | 16.32 | — | 4.83 | 1.60 |
| Interest Coverage | 0.74 | 0.74 | 0.76 | 1.77 | 10.73 | 3.60 | 1.67 | 1.94 | 2.59 | 3.52 | 4.11 |
JPM Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.65x is below 1.0, meaning current liabilities exceed current assets — though the company's $469.3B cash position helps mitigate short-term liquidity concerns. The current ratio has improved from 0.29x to 0.65x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.65 | 0.65 | 0.31 | 0.29 | 0.36 | 0.35 | 0.32 | 0.28 | 0.36 | 0.36 | 0.39 |
| Quick Ratio | 0.65 | 0.65 | 0.31 | 0.29 | 0.36 | 0.35 | 0.32 | 0.28 | 0.36 | 0.36 | 0.39 |
| Cash Ratio | 0.15 | 0.15 | 0.21 | 0.19 | 0.24 | 0.19 | 0.12 | 0.14 | 0.22 | 0.21 | 0.21 |
| Asset Turnover | — | 0.07 | 0.06 | 0.04 | 0.03 | 0.04 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
JPM Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
JPMorgan Chase & Co. returns 5.1% to shareholders annually — split between a 1.7% dividend yield and 3.4% buyback yield. The payout ratio of 25.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 6.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 2.1% | 2.7% | 3.4% | 2.7% | 3.2% | 2.7% | 3.0% | 2.4% | 2.7% | 3.2% |
| Payout Ratio | 25.3% | 25.3% | 27.2% | 36.0% | 26.6% | 43.6% | 33.9% | 31.1% | 36.8% | 34.3% | 32.2% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.4% | 8.2% | 9.5% | 9.0% | 9.7% | 7.0% | 7.7% | 9.2% | 5.9% | 7.2% | 9.1% |
| FCF Yield | — | — | 2.6% | 26.9% | 16.3% | — | 0.9% | 4.7% | — | 6.9% | 29.5% |
| Buyback Yield | 3.4% | 4.2% | 2.0% | 2.7% | 4.4% | 2.0% | 6.2% | 6.5% | 4.4% | 2.9% | 2.3% |
| Total Shareholder Yield | 5.1% | 6.3% | 4.7% | 6.1% | 7.1% | 5.3% | 9.0% | 9.5% | 6.7% | 5.6% | 5.4% |
| Shares Outstanding | — | $2.9B | $2.9B | $3.0B | $3.0B | $3.1B | $3.2B | $3.4B | $3.6B | $3.6B | $3.8B |
Peer Comparison
Compare JPM with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 JPMYou | $834B | 15.7 | 13.4 | — | 58.6% | 27.7% | 17.4% | 5.4% | 9.0 |
 BAC | $404B | 13.9 | 14.7 | 32.1 | 55.4% | 18.5% | 10.2% | 3.2% | 10.0 |
 WFC | $247B | 14.9 | 10.5 | 81.4 | 62.2% | 18.6% | 10.7% | 3.7% | 9.1 |
 C | $224B | 21.5 | 25.2 | — | 41.7% | 10.0% | 6.1% | 1.6% | 27.7 |
 GS | $285B | 22.7 | 34.6 | — | 41.1% | 14.5% | 12.0% | 1.9% | 29.7 |
 MS | $301B | 23.8 | 25.7 | — | 55.6% | 17.1% | 13.0% | 2.9% | 15.8 |
 USB | $86B | 12.1 | 11.4 | — | 62.8% | 22.2% | 12.2% | 5.2% | 7.6 |
 TFC | $66B | 14.9 | 233.4 | 30.4 | 47.0% | -2.5% | 7.8% | -0.4% | 164.7 |
 BK | $91B | 22.8 | 4.5 | — | 46.0% | 14.8% | 11.0% | 5.0% | 5.9 |
 STT | $42B | 18.1 | -9.3 | — | 58.5% | 15.5% | 10.9% | 4.6% | 9.2 |
 PNC | $90B | 16.1 | 14.0 | 11.4 | 59.4% | 21.5% | 11.2% | 4.5% | 8.2 |
| Financial Services Median | — | 13.3 | 11.4 | 10.6 | 62.9% | 21.4% | 9.5% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonJPM — Frequently Asked Questions
Quick answers to the most common questions about buying JPM stock.
What is JPMorgan Chase & Co.'s P/E ratio?
JPMorgan Chase & Co.'s current P/E ratio is 15.7x. The historical average is 15.0x. This places it at the 67th percentile of its historical range.
What is JPMorgan Chase & Co.'s EV/EBITDA?
JPMorgan Chase & Co.'s current EV/EBITDA is 13.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.4x.
What is JPMorgan Chase & Co.'s ROE?
JPMorgan Chase & Co.'s return on equity (ROE) is 17.4%. The historical average is 12.2%.
Is JPM stock overvalued?
Based on historical data, JPMorgan Chase & Co. is trading at a P/E of 15.7x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is JPMorgan Chase & Co.'s dividend yield?
JPMorgan Chase & Co.'s current dividend yield is 1.66% with a payout ratio of 25.3%.
What are JPMorgan Chase & Co.'s profit margins?
JPMorgan Chase & Co. has 58.6% gross margin and 27.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does JPMorgan Chase & Co. have?
JPMorgan Chase & Co.'s Debt/EBITDA ratio is 9.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.