JPMorgan Chase Co (JPM) Q4 2024 Earnings Report

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JPMorgan Chase Co

JPM

$315.04 -0.34%

Exchange: NYSE | Sector: Financial Services | Industry: Banks Diversified

Q4 2024

Published: Feb 14, 2025

Earnings Highlights

Revenue of $42.77B up 10.8% year-over-year
EPS of $4.81 increased by 58.6% from previous year
Gross margin of 100.0%
Net income of 14.01B
"'We reported revenue of $43.7 billion, up $3.8 billion or 10% year-on-year' - Jeremy Barnum, CFO" - Jeremy Barnum

JPM

JPMorgan Chase Co

Period Q4 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

JPMorgan Chase Co (JPM) delivered an impressive performance in Q4 2024, reporting net income of $14 billion and earnings per share (EPS) of $4.81, marking a year-over-year (YoY) increase in revenue of 10%. The firm's success was driven by a substantial increase in advisory and investment banking fees, alongside increased market revenues, highlighting the effectiveness of their diversified business model during a challenging interest rate environment. Management emphasized a focus on operational efficiency, significant client engagement, and a strong balance sheet as key factors that will help navigate potential economic headwinds and enhance shareholder value going forward.

Key Performance Indicators

Revenue

Increasing

42.77B

QoQ: 0.26% | YoY: 10.80%

Gross Profit

Increasing

42.77B

1.00% margin

QoQ: 0.26% | YoY: 10.80%

Operating Income

Increasing

19.50B

QoQ: -48.26% | YoY: 20.90%

Net Income

Increasing

14.01B

QoQ: 8.58% | YoY: 50.48%

EPS

Increasing

4.82

QoQ: 10.05% | YoY: 58.55%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue for Q4 2024 was reported at $43.7 billion, up from $39.9 billion YoY. Net Income showed a robust 50% increase from the previous year. The bank's return on tangible common equity (ROTCE) was a notable 21%, demonstrating effective capital utilization. The Tier 1 Capital Ratio stood at 15.7%, reflecting prudent risk management and strong capital position. The net interest income (NII) excluding markets declined by $548 million, driven by deposit margin compression despite a more than 30% increase in NII from card services. Total expenses decreased by $1.7 billion, demonstrating effective cost management amidst revenue growth.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	42.77B	10.80%	0.26%
Gross Profit	42.77B	10.80%	0.26%
Operating Income	19.50B	20.90%	-48.26%
Net Income	14.01B	50.48%	8.58%
EPS	4.82	58.55%	10.05%

Key Financial Ratios

Gross Profit Margin

Weak

1.00%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Excellent

45.60%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

32.70%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Weak

0.35%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

4.06%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

33.35

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

High Risk

1.32

Debt-to-equity indicates high leverage and elevated financial risk

P/E Ratio

Value

12.14x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Fair Value

1.97x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	42,768.00	4.81	+10.8%	View
Q3 2024	42,656.00	4.37	+7.3%	View
Q2 2024	50,058.00	6.12	+29.7%	View
Q1 2024	41,908.00	4.44	+9.3%	View
Q4 2023	38,600.00	3.04	+11.9%	View

JPMorgan Chase Co (JPM) Q4 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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