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JPM

JPMORGAN CHASE & COeval run
10-K for period ending 2025-12-31gpt-6-luna@none · prompt v4$0.00139.2sfiling on sec.gov ↗

figures

fieldvaluestatement rowprintedSEC
Total revenue$182.4BR15 Total net revenue182,447 millions$182.4B ✓
Operating income-not printed on this statement--
Net income attributable to the company$57.0BR27 Net income57,048 millions$57.0B ✓
Diluted EPS$20.02R31 Diluted earnings per share20.02$20.02 ✓
Cash and cash equivalents$21.7BR2 Cash and due from banks21,742 millions$21.7B ✓
Total assets$4.42TR17 Total assets(a)4,424,900 millions$4.42T ✓
Total liabilities$4.06TR26 Total liabilities(a)4,062,462 millions$4.06T ✓
Total shareholders' equity attributable to the company$362.4BR35 Total stockholders’ equity362,438 millions$362.4B ✓
Net cash from operating activities-$147.8BR20 Net cash (used in)/provided by operating activities(147,782) millions-$147.8B ✓
Net cash from investing activities-$265.6BR35 Net cash (used in)/provided by investing activities(265,565) millions-$265.6B ✓
Net cash from financing activities$269.5BR49 Net cash provided by/(used in) financing activities269,533 millions$269.5B ✓

checks

  • assets = liabilities + equity · total assets equals total liabilities and equity
  • equity excludes minority interests · not applicable: no noncontrolling interest line printed
  • net income is before preferred dividends · net income is not the after-preferred-dividends line
  • diluted EPS is for total net income · diluted EPS is for total net income
  • net income excludes minority interests · not applicable: no noncontrolling interest line printed
  • cash flows tie to the change in cash · operating + investing + financing (+ FX) equals the net change in cash

management's claims

Found 14 claims, none about a company-wide figure the statements can confirm.

trace

  1. 0locator (code)0.50s
    {
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  "exhibits": [],
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    {
  "income": {
    "rows": 34,
    "scale": 1000000,
    "score": 52.75,
    "heading": "JPMorgan Chase & Co. Consolidated statements of income",
    "tableIndex": 327,
    "runnerUpScore": 35
  },
  "balance": {
    "rows": 37,
    "scale": 1000000,
    "score": 53.25,
    "heading": "JPMorgan Chase & Co. Consolidated balance sheets",
    "tableIndex": 331,
    "runnerUpScore": 39
  },
  "cashflow": {
    "rows": 56,
    "scale": 1000000,
    "score": 55,
    "heading": "JPMorgan Chase & Co. Consolidated statements of cash flows",
    "tableIndex": 336,
    "runnerUpScore": 36.25
  }
}
  2. 1cash flow agent1.89s · 1958 tokens · $0.0002
    {
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    {
  "figures": [
    {
      "note": "This is the operating activities section total, after the working-capital and other adjustments.",
      "field": "operatingCashFlow",
      "scale": 1000000,
      "value": -147782000000,
      "printed": "(147,782)",
      "rowIndex": 20,
      "rowLabel": "Net cash (used in)/provided by operating activities",
      "priorValue": -42012000000,
      "agentPrinted": "(147,782)",
      "failedChecks": [],
      "priorPrinted": "(42,012)",
      "groundingMismatch": false
    },
    {
      "note": "This is the investing activities section total.",
      "field": "investingCashFlow",
      "scale": 1000000,
      "value": -265565000000,
      "printed": "(265,565)",
      "rowIndex": 35,
      "rowLabel": "Net cash (used in)/provided by investing activities",
      "priorValue": -163403000000,
      "agentPrinted": "(265,565)",
      "failedChecks": [],
      "priorPrinted": "(163,403)",
      "groundingMismatch": false
    },
    {
      "note": "This is the financing activities section total.",
      "field": "financingCashFlow",
      "scale": 1000000,
      "value": 269533000000,
      "printed": "269,533",
      "rowIndex": 49,
      "rowLabel": "Net cash provided by/(used in) financing activities",
      "priorValue": 63447000000,
      "agentPrinted": "269,533",
      "failedChecks": [],
      "priorPrinted": "63,447",
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    }
  ],
  "statement": "cashflow",
  "tableIndex": 336,
  "priorColumn": 1,
  "currentColumn": 0
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  3. 2balance sheet agent1.89s · 1728 tokens · $0.0002
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    {
  "figures": [
    {
      "note": "Cash and due from banks is the balance sheet’s cash line.",
      "field": "cash",
      "scale": 1000000,
      "value": 21742000000,
      "printed": "21,742",
      "rowIndex": 2,
      "rowLabel": "Cash and due from banks",
      "priorValue": 23372000000,
      "agentPrinted": "21,742",
      "failedChecks": [],
      "priorPrinted": "23,372",
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    },
    {
      "note": "This is the printed total assets line.",
      "field": "totalAssets",
      "scale": 1000000,
      "value": 4424900000000,
      "printed": "4,424,900",
      "rowIndex": 17,
      "rowLabel": "Total assets(a)",
      "priorValue": 4002814000000,
      "agentPrinted": "4,424,900",
      "failedChecks": [],
      "priorPrinted": "4,002,814",
      "groundingMismatch": false
    },
    {
      "note": "This is the printed total liabilities line, not liabilities and equity.",
      "field": "totalLiabilities",
      "scale": 1000000,
      "value": 4062462000000,
      "printed": "4,062,462",
      "rowIndex": 26,
      "rowLabel": "Total liabilities(a)",
      "priorValue": 3658056000000,
      "agentPrinted": "4,062,462",
      "failedChecks": [],
      "priorPrinted": "3,658,056",
      "groundingMismatch": false
    },
    {
      "note": "This is the printed total stockholders’ equity attributable to the company.",
      "field": "totalEquity",
      "scale": 1000000,
      "value": 362438000000,
      "printed": "362,438",
      "rowIndex": 35,
      "rowLabel": "Total stockholders’ equity",
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  ],
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  4. 3income statement agent1.98s · 1719 tokens · $0.0002
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    {
  "figures": [
    {
      "note": "Total net revenue is the company-wide revenue total.",
      "field": "revenue",
      "scale": 1000000,
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      "printed": "182,447",
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    {
      "note": "No operating income or equivalent line is printed; pretax income is not a substitute.",
      "field": "operatingIncome",
      "scale": 1000000,
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    {
      "note": "The statement prints one net income line, before the separate amount applicable to common stockholders.",
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      "scale": 1000000,
      "value": 57048000000,
      "printed": "57,048",
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    {
      "note": "This is the diluted earnings per share line.",
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  5. 4reconciler (code)0.00s
    null
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    "name": "balance_identity",
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    "passed": true,
    "skipped": false,
    "statement": "balance"
  },
  {
    "name": "totalEquity_attribution",
    "detail": "no noncontrolling interest line printed",
    "fields": [
      "totalEquity"
    ],
    "passed": true,
    "skipped": true,
    "statement": "balance"
  },
  {
    "name": "netIncome_before_preferred",
    "detail": "net income is not the after-preferred-dividends line",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "epsDiluted_total",
    "detail": "diluted EPS is for total net income",
    "fields": [
      "epsDiluted"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "netIncome_attribution",
    "detail": "no noncontrolling interest line printed",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": true,
    "statement": "income"
  },
  {
    "name": "cash_flow_tie",
    "detail": "operating + investing + financing (+ FX) equals the net change in cash",
    "fields": [
      "operatingCashFlow",
      "investingCashFlow",
      "financingCashFlow"
    ],
    "passed": true,
    "skipped": false,
    "statement": "cashflow"
  }
]
  6. 5MD&A claims agent6.32s · 2225 tokens · $0.0006
    null
    [
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P1: Net revenue was $24.1 billion, up 12%. Net interest income was $6.8 billion, up 4%. Noninterest revenue was $17.2 billion, up 15%.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "12%",
    "tolerance": null,
    "quoteVerified": false
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P1: Net revenue was $24.1 billion, up 12%. Net interest income was $6.8 billion, up 4%. Noninterest revenue was $17.2 billion, up 15%.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "15%",
    "tolerance": null,
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  },
  {
    "kind": "percent_change",
    "field": "netIncome",
    "quote": "P2: JPMorganChase reported net income of $57.0 billion for 2025, down 2%, earnings per share of $20.02, ROE of 17% and ROTCE of 20%.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Net income attributable to the company: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "2%",
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  {
    "kind": "current_value",
    "field": "epsDiluted",
    "quote": "P2: JPMorganChase reported net income of $57.0 billion for 2025, down 2%, earnings per share of $20.02, ROE of 17% and ROTCE of 20%.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Diluted EPS: quote not found in the filing, so the claim isn't treated as real",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "$20.02",
    "tolerance": null,
    "quoteVerified": false
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P3: • Total net revenue was $182.4 billion, up 3%, reflecting:",
    "scope": "consolidated",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "3%",
    "tolerance": null,
    "quoteVerified": false
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P4: • Investment Banking revenue was $10.2 billion, up 6%. Investment Banking fees were up 7%, driven by higher fees across products. The Firm ranked #1 for Global Investment Banking fees, according to Dealogic.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "6%",
    "tolerance": null,
    "quoteVerified": false
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P5: • Payments revenue was $19.3 billion, up 7%. Excluding the net impact of equity investments, revenue was up 5%, driven by higher average deposits and fee growth, largely offset by deposit margin compression.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "verdict": "not_checked",
    "asWritten": "7%",
    "tolerance": null,
    "quoteVerified": false
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P5: • Payments revenue was $19.3 billion, up 7%. Excluding the net impact of equity investments, revenue was up 5%, driven by higher average deposits and fee growth, largely offset by deposit margin compression.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "5%",
    "tolerance": null,
    "quoteVerified": false
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P6: Markets & Securities Services revenue was $41.3 billion, up 19%. Markets revenue was $35.8 billion, up 19%.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "19%",
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  {
    "kind": "percent_change",
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    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "19%",
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  },
  {
    "kind": "amount_change",
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    "quote": "P7: Net revenue was $7.0 billion, compared with $17.4 billion in the prior year.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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    "asWritten": "$17.4 billion",
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  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "P8: - Noninterest revenue (“NIR”) was $87.0 billion, up 2%, reflecting higher Markets noninterest revenue, higher asset management fees in AWM and CCB, higher auto operating lease income, lower net investment securities losses in Treasury and CIO, higher Payments fees, higher investment banking fees, and a $588 million First Republic-related gain recorded in the first quarter of 2025.",
    "scope": "consolidated",
    "actual": null,
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  },
  {
    "kind": "percent_change",
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    "quote": "P10: [Section: • higher NII in Card Services, predominantly driven by higher revolving balances, and] Noninterest revenue was $17.8 billion, up 7%, driven by:",
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    "actual": null,
    "reason": "Total revenue: quote not found in the filing, so the claim isn't treated as real",
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  },
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    "kind": "percent_change",
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    "quote": "P11: Banking & Payments revenue was $37.1 billion, up 5%.",
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Income statement

table #327 · current period is figure column 1
0Year ended December 31, (in millions, except per share data)202520242023
1Revenue
2Investment banking fees9,6158,9106,519
3Principal transactions27,21224,78724,460
4Lending- and deposit-related fees9,0937,6067,413
5Asset management fees20,32717,80115,220
6Commissions and other fees8,5397,5306,836
7Investment securities losses(57)(1,021)(3,180)
8Mortgage fees and related income1,3811,4011,176
9Card income4,7205,4974,784
10Other income6,17412,4625,609
11Noninterest revenue87,00484,97368,837
12Interest income193,341193,933170,588
13Interest expense97,898101,35081,321
14Net interest income95,44392,58389,267
15Total net revenue← Total revenue182,447177,556158,104
16Provision for credit losses14,21210,6789,320
17Noninterest expense
18Compensation expense54,48751,35746,465
19Occupancy expense5,4615,0264,590
20Technology, communications and equipment expense11,0299,8319,246
21Professional and outside services12,35611,05710,235
22Marketing5,5314,9744,591
23Other expense6,7769,55212,045
24Total noninterest expense95,64091,79787,172
25Income before income tax expense72,59575,08161,612
26Income tax expense15,54716,61012,060
27Net income← Net income attributable to the company57,04858,47149,552
28Net income applicable to common stockholders55,68156,86847,760
29Net income per common share data
30Basic earnings per share20.0519.7916.25
31Diluted earnings per share← Diluted EPS20.0219.7516.23
32Weighted-average basic shares2,776.52,873.92,938.6
33Weighted-average diluted shares2,781.52,879.02,943.1

Balance sheet

table #331 · current period is figure column 1
0December 31, (in millions, except share data)20252024
1Assets
2Cash and due from banks← Cash and cash equivalents21,74223,372
3Deposits with banks321,596445,945
4Federal funds sold and securities purchased under resale agreements (included $327,018 and $286,771 at fair value)336,426295,001
5Securities borrowed (included $98,111 and $83,962 at fair value)286,191219,546
6Trading assets (included assets pledged of $165,927 and $136,070)802,873637,784
7Available-for-sale securities (amortized cost of $507,226 and $411,045; included assets pledged of $7,735 and $10,162)507,198406,852
8Held-to-maturity securities270,134274,468
9Investment securities, net of allowance for credit losses777,332681,320
10Loans (included $70,684 and $41,350 at fair value)1,493,4291,347,988
11Allowance for loan losses(25,765)(24,345)
12Loans, net of allowance for loan losses1,467,6641,323,643
13Accrued interest and accounts receivable111,599101,223
14Premises and equipment36,24432,223
15Goodwill, MSRs and other intangible assets64,45864,560
16Other assets (included $15,849 and $15,122 at fair value and assets pledged of $11,984 and $6,288)198,775178,197
17Total assets(a)← Total assets4,424,9004,002,814
18Liabilities
19Deposits (included $20,930 and $33,768 at fair value)2,559,3202,406,032
20Federal funds purchased and securities loaned or sold under repurchase agreements (included $360,194 and $226,329 at fair value)442,396296,835
21Short-term borrowings (included $32,460 and $26,521 at fair value)64,77652,893
22Trading liabilities216,019192,883
23Accounts payable and other liabilities (included $6,660 and $5,893 at fair value)316,794280,672
24Beneficial interests issued by consolidated VIEs (included $5 and $1 at fair value)27,95127,323
25Long-term debt (included $134,559 and $100,780 at fair value)435,206401,418
26Total liabilities(a)← Total liabilities4,062,4623,658,056
27Commitments and contingencies (refer to Notes 28, 29 and 30)
28Stockholders’ equity
29Preferred stock ($1 par value; authorized 200,000,000 shares: issued 2,005,375 and 2,005,375 shares)20,04520,050
30Common stock ($1 par value; authorized 9,000,000,000 shares; issued 4,104,933,895 shares)4,1054,105
31Additional paid-in capital91,11490,911
32Retained earnings416,055376,166
33Accumulated other comprehensive losses(4,290)(12,456)
34Treasury stock, at cost (1,408,661,319 and 1,307,313,494 shares)(164,591)(134,018)
35Total stockholders’ equity← Total shareholders' equity attributable to the company362,438344,758
36Total liabilities and stockholders’ equity4,424,9004,002,814

Cash flow statement

table #336 · current period is figure column 1
0Year ended December 31, (in millions)202520242023
1Operating activities
2Net income57,04858,47149,552
3Adjustments to reconcile net income to net cash provided by operating activities:
4Provision for credit losses14,21210,6789,320
5Depreciation and amortization8,8217,9387,512
6Deferred tax (benefit)/expense5,6112,004(4,534)
7Estimated bargain purchase gain associated with the First Republic acquisition-(103)(2,775)
8Initial gain on the Visa share exchange-(7,990)-
9Other1,3091,9854,301
10Originations and purchases of loans held-for-sale(260,772)(212,238)(115,245)
11Proceeds from sales, securitizations and paydowns of loans held-for-sale235,232205,303116,430
12Net change in:
13Trading assets(156,461)(95,729)(74,091)
14Securities borrowed(66,648)(18,762)(14,902)
15Accrued interest and accounts receivable(11,514)5,73519,928
16Other assets(12,582)(7,650)32,970
17Trading liabilities23,1342,2765,315
18Accounts payable and other liabilities5,270(90)(25,388)
19Other operating adjustments9,5586,1604,581
20Net cash (used in)/provided by operating activities← Net cash from operating activities(147,782)(42,012)12,974
21Investing activities
22Net change in:
23Federal funds sold and securities purchased under resale agreements(41,264)(18,706)39,740
24Held-to-maturity securities:
25Proceeds from paydowns and maturities54,79199,36353,056
26Purchases(5,432)(4,709)(4,141)
27Available-for-sale securities:
28Proceeds from paydowns and maturities37,41438,49953,744
29Proceeds from sales141,295104,625108,434
30Purchases(308,772)(352,712)(115,499)
31Proceeds from sales and securitizations of loans held-for-investment57,56557,92147,312
32Other changes in loans, net(188,497)(83,176)(88,343)
33Net cash used in First Republic Acquisition-(2,362)(9,920)
34All other investing activities, net(12,665)(2,146)(16,740)
35Net cash (used in)/provided by investing activities← Net cash from investing activities(265,565)(163,403)67,643
36Financing activities
37Net change in:
38Deposits153,1683,299(32,196)
39Federal funds purchased and securities loaned or sold under repurchase agreements145,53580,28813,801
40Short-term borrowings9,4227,439(1,934)
41Beneficial interests issued by consolidated VIEs(622)1,5439,029
42Proceeds from long-term borrowings120,761109,91575,417
43Payments of long-term borrowings(108,100)(96,605)(64,880)
44Proceeds from issuance of preferred stock3,0002,500-
45Redemption of preferred stock(3,000)(9,850)-
46Treasury stock repurchased(31,591)(18,830)(9,824)
47Dividends paid(16,625)(14,783)(13,463)
48All other financing activities, net(2,415)(1,469)(1,521)
49Net cash provided by/(used in) financing activities← Net cash from financing activities269,53363,447(25,571)
50Effect of exchange rate changes on cash and due from banks and deposits with banks17,835(12,866)1,871
51Net increase/(decrease) in cash and due from banks and deposits with banks(125,979)(154,834)56,917
52Cash and due from banks and deposits with banks at the beginning of the period469,317624,151567,234
53Cash and due from banks and deposits with banks at the end of the period343,338469,317624,151
54Cash interest paid96,43699,64277,114
55Cash income taxes paid, net5,30911,7159,908