JPMorgan Chase (JPM) FY2018 results: revenue $108.8 billion, up 8.0% on the year
JPMorgan Chase & Co. (JPM) reported revenue of $108.8 billion for fiscal 2018, the year ended 31 December 2018, up 8.0% on the year before. Net income was $32.5 billion, up 32.9%, and diluted earnings per share $9.00. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2019.
Revenue
$108.8 billion
+8.0% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$32.5 billion
+32.9% on the year
FY2011FY2018
Diluted EPS
$9.00
+42.6% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
108,783
100,705
96,569
+8.0%
Interest expense
21,041
13,874
9,818
+51.7%
Pre-tax income
40,764
35,900
34,536
+13.5%
Income tax
8,290
11,459
9,803
-27.7%
Effective tax rate
20.3%
31.9%
28.4%
Net income
32,474
24,441
24,733
+32.9%
Net margin
29.9%
24.3%
25.6%
Diluted EPS
$9.00
$6.31
$6.19
+42.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
15,614
-10,827
21,884
Cash from investing
-199,420
28,249
-89,202
Cash from financing
34,158
14,642
98,271
+133.3%
Depreciation and amortisation
7,791
6,179
5,478
+26.1%
Share-based compensation
2,322
2,070
1,940
+12.2%
Buybacks
19,983
15,410
9,082
+29.7%
Dividends paid
10,109
8,993
8,476
+12.4%
Dividend per share
$2.72
$2.12
$1.88
+28.3%
Diluted shares, weighted
3,414m
3,577m
3,650m
-4.6%
Shares outstanding at period end
3,276m
3,425m
3,561m
-4.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
256,515
255,693
254,190
+0.3%
Deposits
1,470,666
1,443,982
1,375,179
+1.8%
Trading liabilities
144,773
123,663
136,659
+17.1%
Debt
533,627
494,798
495,354
+7.8%
Other liabilities
216,951
215,464
229,590
+0.7%
Total liabilities and equity
2,622,532
2,533,600
2,490,972
+3.5%
Fixed assets
14,934
14,159
14,131
+5.5%
Goodwill
47,471
47,507
47,288
-0.1%
Securities held for sale or to maturity
261,828
249,411
288,133
+5.0%
Resale agreements
321,588
198,422
229,967
+62.1%
Securities borrowed
111,995
105,112
96,409
+6.5%
Cash and equivalents
278,793
431,304
391,154
-35.4%
Other assets
1,585,923
1,487,685
1,423,890
+6.6%
Total assets
2,622,532
2,533,600
2,490,972
+3.5%
10-K for the year ended 31 December 2018, filed 26 February 2019: the filing.