JPMJPMorgan Chase

Financials · Banks · NYSE

JPM and 9 peers, year by year

The 9 Financials companies closest to JPM in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.

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Each company's latest fiscal year
Company	Year	Revenue	Sales growth	Operating margin	Net margin	FCF margin	Return on equity	Debt / equity
JPM JPMorgan Chase	FY2025	$182.4B	+2.8%	-	31.3%	-	15.7%	1.38
BAC Bank of America	FY2025	$113.1B	+6.8%	-	27.0%	-	10.1%	1.12
PGR Progressive Corporation	FY2025	$87.7B	+16.3%	-	12.9%	19.6%	37.3%	0.23
WFC Wells Fargo	FY2025	$83.7B	+1.7%	-	25.5%	-	11.8%	1.07
C Citigroup	FY2025	$85.2B	+5.6%	-	16.8%	−87.0%	6.7%	1.58
MET MetLife	FY2025	$77.1B	+8.5%	8.0%	4.4%	-	11.9%	0.52
MS Morgan Stanley	FY2025	$70.6B	+14.4%	-	23.9%	-	15.1%	3.06
AXP American Express	FY2025	$72.2B	+6.4%	-	15.0%	22.2%	32.4%	1.73
ALL Allstate	FY2025	$67.7B	+5.6%	-	15.2%	14.6%	33.6%	0.24
GS Goldman Sachs	FY2025	$58.3B	+8.9%	-	29.5%	−81.0%	13.7%	2.85

Revenuepeer median $77.1B

Sales growthpeer median +6.8%

Net marginpeer median 16.8%

FCF marginpeer median 14.6%

AXP 22.2%
PGR 19.6%
ALL 14.6%
GS −81.0%
C −87.0%
JPM -
BAC -
WFC -
MET -
MS -

Return on equitypeer median 13.7%

Debt / equitypeer median 1.12

MS 3.06
GS 2.85
AXP 1.73
C 1.58
JPM 1.38
BAC 1.12
WFC 1.07
MET 0.52
ALL 0.24
PGR 0.23

RevenueSales growthOperating marginNet marginFree cash flowFCF marginReturn on equityDebt / equityEPS (diluted)

Revenue, FY2016 to FY2025

Revenue as reported in the 10-K.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	$96.6B	$100.7B	$108.8B	$115.7B	$120.0B	$121.6B	$128.7B	$158.1B	$177.6B	$182.4B
BAC Dec	$83.7B	$87.1B	$91.0B	$91.2B	$85.5B	$89.1B	$95.0B	$102.8B	$105.9B	$113.1B
PGR Dec	$23.4B	$26.8B	$32.0B	$39.0B	$42.7B	$47.7B	$49.6B	$62.1B	$75.4B	$87.7B
WFC Dec	$88.3B	$88.4B	$86.4B	$86.8B	$74.3B	$79.2B	$74.4B	$82.6B	$82.3B	$83.7B
C Dec	$70.8B	$72.4B	$72.9B	$75.1B	$75.5B	$71.9B	$75.3B	$78.1B	$80.7B	$85.2B
MET Dec	$60.8B	$62.3B	$67.9B	$69.6B	$67.8B	$68.7B	$68.8B	$66.9B	$71.0B	$77.1B
MS Dec	$34.6B	$37.9B	$40.1B	$41.5B	$48.8B	$59.8B	$53.7B	$54.1B	$61.8B	$70.6B
AXP Dec	$35.4B	$36.9B	$40.3B	$43.6B	$36.1B	$42.4B	$52.9B	$60.5B	$65.9B	$72.2B
ALL Dec	$37.4B	$39.4B	$39.8B	$41.5B	$41.9B	$50.6B	$51.4B	$57.1B	$64.1B	$67.7B
GS Dec	$30.8B	$32.7B	$36.6B	$36.5B	$44.6B	$59.3B	$47.4B	$46.3B	$53.5B	$58.3B
Peer median	$37.4B	$39.4B	$40.3B	$43.6B	$48.8B	$59.8B	$53.7B	$62.1B	$71.0B	$77.1B

Sales growth, FY2016 to FY2025

Revenue against the fiscal year before.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	+2.3%	+4.3%	+8.3%	+6.1%	+3.7%	+1.4%	+5.8%	+22.9%	+12.3%	+2.8%
BAC Dec	+0.9%	+4.4%	+4.5%	+0.2%	−6.3%	+4.2%	+6.6%	+3.8%	+3.0%	+6.8%
PGR Dec	+12.4%	+14.5%	+19.2%	+22.0%	+9.3%	+11.8%	+4.0%	+25.2%	+21.4%	+16.3%
WFC Dec	+2.6%	+0.1%	−2.2%	−1.6%	−14.5%	+5.7%	−6.1%	+11.1%	−0.4%	+1.7%
C Dec	−8.5%	+2.3%	+0.6%	+2.0%	+0.6%	−4.8%	+4.8%	+4.1%	+3.4%	+5.6%
MET Dec	−0.9%	+2.5%	+9.0%	+2.6%	+5.0%	+53.2%	+1.7%	+5.6%	+0.7%	+8.5%
MS Dec	−1.5%	+9.6%	+5.7%	+3.3%	+17.4%	+22.6%	−10.2%	+0.9%	+14.1%	+14.4%
AXP Dec	−2.1%	+2.2%	+7.4%	+5.8%	−22.0%	+26.1%	+23.5%	+8.8%	+4.3%	+6.4%
ALL Dec	+2.5%	+5.4%	+1.0%	+12.2%	+0.9%	+20.7%	+1.6%	+11.1%	+12.3%	+5.6%
GS Dec	−9.5%	+6.3%	+11.9%	−0.2%	+21.9%	+33.2%	−20.2%	−2.3%	+15.7%	+8.9%
Peer median	−0.9%	+4.4%	+5.7%	+2.6%	+0.9%	+20.7%	+1.7%	+5.6%	+4.3%	+6.8%

Operating margin, FY2016 to FY2025

Operating income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	-	-	-	-	-	-	-	-	-	-
BAC Dec	-	-	-	-	-	-	-	-	-	-
PGR Dec	-	-	-	-	-	-	-	-	-	-
WFC Dec	-	-	-	-	-	-	-	-	-	-
C Dec	-	-	-	-	-	-	-	-	-	-
MET Dec	-	-	-	-	-	-	8.7%	8.6%	8.4%	8.0%
MS Dec	-	-	-	-	-	-	-	-	-	-
AXP Dec	-	-	-	-	-	-	-	-	-	-
ALL Dec	-	-	-	-	-	-	-	-	-	-
GS Dec	-	-	-	-	-	-	-	-	-	-
Peer median	-	-	-	-	-	-	-	-	-	-

Net margin, FY2016 to FY2025

Net income / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	25.6%	24.3%	29.9%	31.5%	24.3%	39.7%	29.3%	31.3%	32.9%	31.3%
BAC Dec	21.3%	20.9%	30.9%	30.1%	20.9%	35.9%	29.0%	25.6%	25.5%	27.0%
PGR Dec	4.4%	5.9%	8.2%	10.2%	13.4%	7.0%	1.5%	6.3%	11.3%	12.9%
WFC Dec	24.9%	25.1%	25.9%	22.7%	4.5%	27.9%	18.4%	23.2%	24.0%	25.5%
C Dec	21.1%	−9.4%	24.8%	25.8%	14.6%	30.5%	19.7%	11.8%	15.7%	16.8%
MET Dec	1.4%	6.4%	7.5%	8.5%	8.0%	10.0%	7.7%	2.4%	6.2%	4.4%
MS Dec	17.3%	16.1%	21.8%	21.8%	22.6%	25.2%	20.6%	16.8%	21.7%	23.9%
AXP Dec	15.2%	7.5%	17.2%	15.5%	8.7%	19.0%	14.2%	13.8%	15.4%	15.0%
ALL Dec	5.0%	9.0%	5.4%	11.7%	13.3%	3.2%	−2.5%	−0.3%	7.3%	15.2%
GS Dec	24.0%	13.1%	28.6%	23.2%	21.2%	36.5%	23.8%	18.4%	26.7%	29.5%
Peer median	17.3%	9.0%	21.8%	21.8%	13.4%	25.2%	18.4%	13.8%	15.7%	16.8%

Free cash flow, FY2016 to FY2025

Cash from operations minus capital spending.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	-	-	-	-	-	-	-	-	-	-
BAC Dec	-	-	-	-	-	-	-	-	-	-
PGR Dec	$2.5B	$3.6B	$6.0B	$5.9B	$6.7B	$7.5B	$6.6B	$10.4B	$14.8B	$17.2B
WFC Dec	-	-	-	-	-	-	-	-	-	-
C Dec	$51.0B	−$12.1B	$33.2B	−$18.2B	−$26.9B	$43.0B	$19.4B	−$80.0B	−$26.2B	−$74.2B
MET Dec	-	-	-	-	-	-	-	-	-	-
MS Dec	-	-	-	-	-	-	-	-	-	-
AXP Dec	$6.9B	$12.5B	$7.6B	$12.0B	$4.1B	$13.1B	$19.2B	$17.0B	$12.1B	$16.0B
ALL Dec	$3.7B	$4.0B	$4.9B	$4.7B	$5.2B	$4.8B	$4.7B	$4.0B	$8.7B	$9.9B
GS Dec	$3.6B	−$23.7B	$8.6B	$15.4B	−$24.8B	$1.6B	$5.0B	−$14.9B	−$15.3B	−$47.2B
Peer median	$3.7B	$3.6B	$7.6B	$5.9B	$4.1B	$7.5B	$6.6B	$4.0B	$8.7B	$9.9B

FCF margin, FY2016 to FY2025

Free cash flow / revenue.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	-	-	-	-	-	-	-	-	-	-
BAC Dec	-	-	-	-	-	-	-	-	-	-
PGR Dec	10.7%	13.4%	18.8%	15.1%	15.7%	15.8%	13.2%	16.7%	19.7%	19.6%
WFC Dec	-	-	-	-	-	-	-	-	-	-
C Dec	72.0%	−16.8%	45.5%	−24.2%	−35.7%	59.8%	25.8%	−102.5%	−32.4%	−87.0%
MET Dec	-	-	-	-	-	-	-	-	-	-
MS Dec	-	-	-	-	-	-	-	-	-	-
AXP Dec	19.5%	33.8%	18.9%	27.5%	11.4%	30.9%	36.4%	28.1%	18.4%	22.2%
ALL Dec	9.8%	10.2%	12.3%	11.3%	12.4%	9.4%	9.1%	6.9%	13.6%	14.6%
GS Dec	11.8%	−72.3%	23.4%	42.2%	−55.8%	2.7%	10.5%	−32.2%	−28.6%	−81.0%
Peer median	11.8%	10.2%	18.9%	15.1%	11.4%	15.8%	13.2%	6.9%	13.6%	14.6%

Return on equity, FY2016 to FY2025

Net income / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	9.7%	9.6%	12.7%	13.9%	10.4%	16.4%	12.9%	15.1%	17.0%	15.7%
BAC Dec	6.7%	6.8%	10.6%	10.4%	6.6%	11.8%	10.1%	9.1%	9.2%	10.1%
PGR Dec	13.0%	17.1%	24.2%	29.0%	33.5%	18.4%	4.5%	19.2%	33.1%	37.3%
WFC Dec	11.0%	10.7%	11.4%	10.5%	1.8%	11.8%	7.6%	10.3%	11.0%	11.8%
C Dec	6.6%	−3.4%	9.2%	10.0%	5.5%	10.9%	7.4%	4.5%	6.1%	6.7%
MET Dec	1.3%	6.8%	9.7%	8.9%	7.3%	10.2%	17.7%	5.3%	16.1%	11.9%
MS Dec	7.9%	7.9%	10.9%	11.1%	10.8%	14.3%	11.0%	9.2%	12.8%	15.1%
AXP Dec	26.2%	15.0%	31.0%	29.3%	13.6%	36.3%	30.4%	29.8%	33.5%	32.4%
ALL Dec	9.1%	15.8%	10.1%	18.6%	18.5%	6.5%	−7.4%	−1.1%	21.8%	33.6%
GS Dec	8.5%	5.2%	11.6%	9.4%	9.9%	19.7%	9.6%	7.3%	11.7%	13.7%
Peer median	8.5%	7.9%	10.9%	10.5%	9.9%	11.8%	9.6%	9.1%	12.8%	13.7%

Debt / equity, FY2016 to FY2025

Total debt / shareholders' equity at the year end.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	1.21	1.31	1.37	1.27	1.17	1.21	1.16	1.33	1.32	1.38
BAC Dec	0.81	0.85	0.86	0.91	0.96	1.04	1.05	1.09	1.05	1.12
PGR Dec	0.40	0.36	0.41	0.32	0.32	0.27	0.40	0.34	0.27	0.23
WFC Dec	1.76	1.59	1.71	1.78	1.47	1.04	1.25	1.60	0.98	1.07
C Dec	0.96	1.23	1.25	1.37	1.45	1.34	1.48	1.49	1.52	1.58
MET Dec	0.24	0.27	0.25	0.21	0.20	0.21	0.49	0.52	0.57	0.52
MS Dec	2.18	2.49	2.34	2.33	2.10	2.16	2.34	2.63	2.72	3.06
AXP Dec	2.56	3.24	2.76	2.79	1.95	1.85	1.78	1.75	1.69	1.73
ALL Dec	0.31	0.28	0.30	0.26	0.26	0.32	0.46	0.45	0.38	0.24
GS Dec	2.27	2.77	2.62	2.83	2.78	2.74	2.63	2.72	2.56	2.85
Peer median	0.96	1.23	1.25	1.37	1.45	1.04	1.25	1.49	1.05	1.12

EPS (diluted), FY2016 to FY2025

Diluted earnings per share, on today's share count after splits.

Company	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
JPM Dec	$6.19	$6.31	$9.00	$10.72	$8.88	$15.36	$12.09	$16.23	$19.75	$20.02
BAC Dec	$1.49	$1.56	$2.61	$2.75	$1.87	$3.57	$3.19	$3.05	$3.19	$3.81
PGR Dec	$1.76	$2.72	$4.42	$6.72	$9.66	$5.66	$1.18	$6.58	$14.40	$19.23
WFC Dec	$3.99	$4.10	$4.28	$4.09	$0.43	$5.08	$3.27	$4.83	$5.37	$6.26
C Dec	$4.72	−$2.98	$6.68	$8.04	$4.72	$10.14	$7.00	$4.04	$5.94	$6.99
MET Dec	$0.67	$3.62	$4.91	$6.06	$5.68	$7.65	$6.30	$1.81	$5.94	$4.71
MS Dec	$2.92	$3.07	$4.73	$5.19	$6.46	$8.03	$6.15	$5.18	$7.95	$10.21
AXP Dec	-	-	-	$7.99	$3.77	$10.02	$9.85	$11.21	$14.01	$15.38
ALL Dec	$4.67	$9.35	$5.70	$14.03	$17.31	$5.01	−$5.14	−$1.20	$16.99	$38.06
GS Dec	$16.29	$9.01	$25.27	$21.03	$24.74	$59.45	$30.06	$22.87	$40.54	$51.32
Peer median	$3.46	$3.34	$4.82	$6.72	$5.68	$7.65	$6.15	$4.83	$7.95	$10.21

Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out JPM and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →

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