JPMorgan Chase & Co. (JPM) Revenue-to-Profit Sankey Flow & SEC XBRL Financials
JPMorgan Chase & Co. (JPM) receives a Roarable Rating of D+ (Sell) and flashes a Red SELL / AVOID warning (65/100 RQD Confidence). Our SEC filing scanner spotted paper earnings outpacing real operating cash flow (+117.6% (NI vs OCF)) while unpaid customer invoices grew—a classic sign to step aside until cash flow catches up.
How JPM Turns Every Dollar of Sales Into Real Bottom-Line Profit
Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory
| Fiscal Year | Revenue | Gross Margin | Op Margin | Net Profit | Free Cash Flow | ROIC % |
|---|---|---|---|---|---|---|
| FY 2025 | $182.45B | 52% | 39.8% | $57.05B | -$147.78B | 15.7% |
| FY 2024 | $177.56B | 52% | 42.3% | $58.47B | -$42.01B | 17% |
| FY 2023 | $158.10B | 52% | 39% | $49.55B | $12.97B | 15.1% |
| FY 2022 | $128.69B | 52% | 35.9% | $37.68B | $107.12B | 12.9% |
| FY 2021 | $121.65B | 52% | 49% | $48.33B | $78.08B | 16.4% |
| FY 2020 | $119.95B | 52% | 29.9% | $29.13B | -$79.91B | 10.4% |
In accession 0001628280-26-008131, JPMorgan Chase broadens disclosures around capital adequacy requirements under finalized Basel III Endgame mandates and deposit pricing pressures impacting net interest income (NII). The firm explicitly conditions consumer credit quality against elevated interest rate persistence and highlights structural vulnerabilities tied to third-party cloud infrastructure resilience. The shift signals defensive posture positioning against multi-quarter margin normalization and elevated operational compliance overhead.
The regulatory risk has pivoted from speculative proposal monitoring to concrete capital-binding headwind. JPMorgan is signaling that higher required Tier 1 common equity ratios will compress return on tangible common equity (ROTCE) and force a contraction or deceleration in buyback velocity.
Asset repricing tailwinds have peaked while liability pricing catch-up is accelerating. Management is preparing the market for terminal NII margin compression as corporate and retail depositors continue migrating toward higher-yielding cash-substitute vehicles.
JPMorgan is acknowledging single-point-of-failure reliance on concentrated cloud hyperscalers (primarily AWS). This flags elevated operational fragility, regulatory scrutiny under operational resilience frameworks, and recurring technological capex obligations.
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JPM Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure
SEC XBRL FY2024 → FY2025: Net share cannibal / buyback tailwind.
vs. +13.5% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).
No active Ellis Vennor swing setup published on JPM today. View full Setup Ledger →
No direct multi-tier Butterfly edges indexed yet for JPM. Explore sector supply chains on /butterfly.
JPM Investor FAQ & Complete 8-Part Research Index
100% OPEN ACCESS • SEC EDGAR × CBOE × FREDHow profitable is JPMorgan Chase & Co. (JPM)?
In FY 2025 (10-K), JPM converted $182.4B of revenue into a 52% gross margin, 39.8% operating margin, and $0 in free cash flow (0% FCF margin).