JPMorgan Chase (JPM) FY2020 results: revenue $120.0 billion, up 3.7% on the year
JPMorgan Chase & Co. (JPM) reported revenue of $120.0 billion for fiscal 2020, the year ended 31 December 2020, up 3.7% on the year before. Net income was $29.1 billion, down 20.0%, and diluted earnings per share $8.88. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2021.
Revenue
$120.0 billion
+3.7% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$29.1 billion
-20.0% on the year
FY2013FY2020
Diluted EPS
$8.88
-17.2% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
119,951
115,627
108,783
+3.7%
Interest expense
9,960
26,795
21,041
-62.8%
Pre-tax income
35,815
44,866
40,764
-20.2%
Income tax
6,684
8,435
8,290
-20.8%
Effective tax rate
18.7%
18.8%
20.3%
Net income
29,131
36,431
32,474
-20.0%
Net margin
24.3%
31.5%
29.9%
Diluted EPS
$8.88
$10.72
$9.00
-17.2%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-79,910
4,092
15,614
Cash from investing
-261,912
-52,059
-199,420
Cash from financing
596,645
32,987
34,158
+1,708.7%
Depreciation and amortisation
8,614
8,368
7,791
+2.9%
Share-based compensation
2,451
2,256
2,322
+8.6%
Buybacks
6,517
24,001
19,983
-72.8%
Dividends paid
12,690
12,343
10,109
+2.8%
Dividend per share
$3.60
$3.40
$2.72
+5.9%
Diluted shares, weighted
3,087m
3,230m
3,414m
-4.4%
Shares outstanding at period end
3,049m
3,084m
3,276m
-1.1%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
279,354
261,330
256,515
+6.9%
Deposits
2,144,257
1,562,431
1,470,666
+37.2%
Repurchase agreements
215,209
n/a
n/a
Trading liabilities
170,181
119,277
144,773
+42.7%
Debt
542,102
516,093
533,627
+5.0%
Other liabilities
34,968
228,248
216,951
-84.7%
Total liabilities and equity
3,386,071
2,687,379
2,622,532
+26.0%
Fixed assets
27,109
25,813
14,934
+5.0%
Goodwill
49,248
47,823
47,471
+3.0%
Securities held for sale or to maturity
590,077
398,239
261,828
+48.2%
Loans
984,525
n/a
n/a
Resale agreements
296,284
249,157
321,588
+18.9%
Securities borrowed
160,635
139,758
111,995
+14.9%
Cash and equivalents
527,609
263,631
278,793
+100.1%
Other assets
750,584
1,562,958
1,585,923
-52.0%
Total assets
3,386,071
2,687,379
2,622,532
+26.0%
10-K for the year ended 31 December 2020, filed 23 February 2021: the filing.