JPM Analysis: America's Largest Bank Earns $57 Billion in 2025 — Why JPMorgan's 15x Multiple Still Looks Reasonable
JPMorgan Chase (NYSE: JPM) is the undisputed heavyweight of American banking. With $4.4 trillion in total assets, $846 billion in market capitalization, and a 2025 net income of $56.8 billion, Jamie Dimon's institution operates at a scale that no other U.S. financial firm can match. The stock trades at $310.79, roughly 8% below its 52-week high of $337.25 and 54% above its 52-week low of $202.16. The bank's 2025 results tell a story of resilient profitability despite a challenging rate environment. Full-year earnings per share came in at $20.01, supporting a trailing P/E ratio of 15.5x — a premium to the big-bank average but far from stretched given JPMorgan's consistent execution. With interest income exceeding $193 billion for the year and a net profit margin near 20%, the bank continues to demonstrate why it commands a leadership premium. For individual investors, the question isn't whether JPMorgan is a good bank — it plainly is. The question is whether $310 per share adequately prices in a business that generates over $100 billion in annual operating cash flow, returns $51 billion to shareholders through dividends and buybacks, and is now expanding aggressively into national security and defense-adjacent finance. Here's what the numbers say.