JPMorgan Chase & Co. filed its Form 10‑K for the fiscal year ended December 31 2025 on February 13 2026, providing the most recent audited financial statements for the global banking giant.
The filing reports total assets of $4.4 trillion and shareholders’ equity of $362 billion, an 8.32 % increase in assets and a 4.16 % rise in equity from $4.0 trillion and $345 billion in 2024, underscoring the firm’s substantial balance sheet and capital base as it continues to navigate a complex economic environment.
JPMorgan reported fourth‑quarter 2025 net income of $13.0 billion, or $4.63 per share. Adjusted net income, excluding a significant item, was $14.7 billion, or $5.23 per share, beating analyst expectations of $4.86 per share by 7.7 %. Full‑year 2025 net income reached $57.0 billion, or $20.02 per share. Total net revenue for Q4 2025 was $46.8 billion, up 7 % year‑over‑year, meeting analyst estimates of $46.55 billion.
Segment performance varied: Consumer & Community Banking generated net income of $3.6 billion, down 19 % year‑over‑year, but net revenue of $19.4 billion, up 6 %. Commercial & Investment Bank posted net income of $7.3 billion, up 10 %, and net revenue of $19.4 billion, up 10 %. Asset & Wealth Management earned net income of $1.8 billion, up 19 %, and net revenue of $6.5 billion, up 13 %. Within the Commercial & Investment Bank, Markets revenue rose 17 % to $8.2 billion, Fixed Income Markets revenue increased 7 % to $5.4 billion, Equity Markets revenue jumped 40 % to $2.9 billion, while Investment Banking fees fell 5 % to $2.6 billion.
Management commentary highlighted the strength of the quarter: "The Firm concluded the year with a strong fourth quarter, generating net income of $14.7 billion excluding a significant item." CEO Jamie Dimon added, "Each line of business performed well." He also noted that the economy remains "stagnant with persistent inflation pressures."
The filing also disclosed a $2.2 billion credit reserve for the forward purchase commitment of the Apple credit card portfolio, which reduced earnings per share by $0.60. Detailed disclosures on liquidity, risk exposures, and operating segments are included in the report.
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