JPMorgan Chase (JPM) FY2019 results: revenue $115.6 billion, up 6.3% on the year
JPMorgan Chase & Co. (JPM) reported revenue of $115.6 billion for fiscal 2019, the year ended 31 December 2019, up 6.3% on the year before. Net income was $36.4 billion, up 12.2%, and diluted earnings per share $10.72. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$115.6 billion
+6.3% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$36.4 billion
+12.2% on the year
FY2012FY2019
Diluted EPS
$10.72
+19.1% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
115,627
108,783
100,705
+6.3%
Interest expense
26,795
21,041
13,874
+27.3%
Pre-tax income
44,866
40,764
35,900
+10.1%
Income tax
8,435
8,290
11,459
+1.7%
Effective tax rate
18.8%
20.3%
31.9%
Net income
36,431
32,474
24,441
+12.2%
Net margin
31.5%
29.9%
24.3%
Diluted EPS
$10.72
$9.00
$6.31
+19.1%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
4,092
15,614
-10,827
-73.8%
Cash from investing
-52,059
-199,420
28,249
Cash from financing
32,987
34,158
14,642
-3.4%
Depreciation and amortisation
8,368
7,791
6,179
+7.4%
Share-based compensation
2,256
2,322
2,070
-2.8%
Buybacks
24,001
19,983
15,410
+20.1%
Dividends paid
12,343
10,109
8,993
+22.1%
Dividend per share
$3.40
$2.72
$2.12
+25.0%
Diluted shares, weighted
3,230m
3,414m
3,577m
-5.4%
Shares outstanding at period end
3,084m
3,276m
3,425m
-5.9%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
261,330
256,515
255,693
+1.9%
Deposits
1,562,431
1,470,666
1,443,982
+6.2%
Trading liabilities
119,277
144,773
123,663
-17.6%
Debt
516,093
533,627
494,798
-3.3%
Other liabilities
228,248
216,951
215,464
+5.2%
Total liabilities and equity
2,687,379
2,622,532
2,533,600
+2.5%
Fixed assets
25,813
14,934
14,159
+72.8%
Goodwill
47,823
47,471
47,507
+0.7%
Securities held for sale or to maturity
398,239
261,828
249,411
+52.1%
Resale agreements
249,157
321,588
198,422
-22.5%
Securities borrowed
139,758
111,995
105,112
+24.8%
Cash and equivalents
263,631
278,793
431,304
-5.4%
Other assets
1,562,958
1,585,923
1,487,685
-1.4%
Total assets
2,687,379
2,622,532
2,533,600
+2.5%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.