How JPMorgan Chase Makes Money (2026)
JPMorgan Chase makes money mainly from Net interest income. Its FY2025 total revenue was $182,447 million ($182.4 billion), with Net interest income the biggest disclosed revenue line at $95,443 million ($95.4 billion) and 52.3% of total revenue (computed from the 10-K FY2025). JPMorgan's Markets business combines transaction-related revenue with net interest income.
Last checked 2026-10-18 on the official pages.
Revenue breakdown
Amounts in millions of USD. Shares are computed from the filing.
| Revenue line | Value | % of total | Filing |
|---|---|---|---|
| Investment banking fees | $9,615 million ($9.6 billion) | 5.3% | 10-K FY2025 ↗ |
| Principal transactions | $27,212 million ($27.2 billion) | 14.9% | 10-K FY2025 ↗ |
| Lending and deposit-related fees | $9,093 million ($9.1 billion) | 5.0% | 10-K FY2025 ↗ |
| Asset management fees | $20,327 million ($20.3 billion) | 11.1% | 10-K FY2025 ↗ |
| Commissions and other fees | $8,539 million ($8.5 billion) | 4.7% | 10-K FY2025 ↗ |
| Investment securities gains / losses | $-57 million | -0.0% | 10-K FY2025 ↗ |
| Mortgage fees and related income | $1,381 million ($1.4 billion) | 0.8% | 10-K FY2025 ↗ |
| Card income | $4,720 million ($4.7 billion) | 2.6% | 10-K FY2025 ↗ |
| Other income | $6,174 million ($6.2 billion) | 3.4% | 10-K FY2025 ↗ |
| Net interest income | $95,443 million ($95.4 billion) | 52.3% | 10-K FY2025 ↗ |
| Total revenue | $182,447 million ($182.4 billion) | — | 10-K FY2025 ↗ |
The hidden model
JPMorgan's Markets business combines transaction-related revenue with net interest income.
JPMorgan's Markets business combines transaction-related revenue with net interest income. verified
Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income.
JPMorgan's annual report attributes major losses to CIO's synthetic credit portfolio. verified
CIO incurred losses of $5.8 billion from the synthetic credit portfolio for the six months ended June 30, 2012
Business models
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Spreadsheet errors: the PHE Excel row limit, Reinhart-Rogoff and JPMorgan's London Whale VaR spreadsheet.
- JPMorgan Chase · Banking
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Frequently asked questions
How does JPMorgan Chase make money?
JPMorgan Chase makes money mainly from Net interest income. Its FY2025 total revenue was $182,447 million ($182.4 billion), with Net interest income the biggest disclosed revenue line at $95,443 million ($95.4 billion) and 52.3% of total revenue (computed from the 10-K FY2025). JPMorgan's Markets business combines transaction-related revenue with net interest income.
What is JPMorgan Chase’s business model?
JPMorgan Chase’s business model is Interest and Banking. Fund lending and other earning assets with deposits or other capital, earn interest, and provide fee-based financial services. Credit losses and funding costs affect the result. JPMorgan's Markets business combines transaction-related revenue with net interest income.
What is JPMorgan Chase’s hidden model?
JPMorgan's Markets business combines transaction-related revenue with net interest income.