JPMorgan Chase (JPM) Q1 FY26 earnings call

Earnings call· Mar 2026 (Q1 FY26)· Financials· Apr 14, 2026

Source: earnings call transcript

JPMorgan Chase delivered strong Q1 FY26 results, with robust revenue growth across its key segments, particularly in CIB and Asset & Wealth Management. The firm expressed significant concerns regarding the proposed Basel III Endgame and G-SIB surcharge reproposals, highlighting their disproportionate impact on JPM's capital requirements and potential disincentives for market-making activities. Management reiterated its commitment to serving clients and managing expenses holistically, while also discussing the early stages of AI adoption and the resilience of the U.S. consumer.

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JPM operating KPIs by quarter

JPM operating KPIs stated on its earnings calls, by fiscal quarter
KPI	Dec 2024 Q4 FY24	Mar 2025 Q1 FY25	Jun 2025 Q2 FY25	Sep 2025 Q3 FY25	Dec 2025 Q4 FY25	This call Mar 2026 Q1 FY26	Jun 2026 Q2 FY26	Sep 2026 Q3 FY26	Change vs prior quarter
Return on tangible common equity (ROTCE)	21% The firm reported net income of $14 billion, EPS of $4.81 on revenue of $43.7 billion, with an ROTCE of 21%. Source: earnings call transcript	21% The firm reported net income of $14.6 billion, EPS of $5.07 on revenue of $46 billion with an ROTCE of 21%. Source: earnings call transcript	—	20% So with that, turning to this quarter's results, the firm reported net income of $14.4 billion and EPS of $5.07 with an ROTCE of 20%. Source: earnings call transcript	18% This quarter, the firm reported net income of $13 billion and EPS of $4.63 with an ROTCE of 18%. Source: earnings call transcript	23% This quarter, the firm reported net income of $16.5 billion and EPS of $5.94 with an ROTC of 23%. Source: earnings call transcript	23% Including the significant items noted on the page, the firm delivered net income of $16.9 billion, EPS of $6.14 and an ROTCE of 23%. Source: earnings call transcript	20% The firm delivered net income of $15.3 billion, EPS of $5.57 and an ROTCE of 20%. Source: earnings call transcript	-3 pt
Common equity tier 1 ratio (CET1)	15.7% We ended the quarter with a CET1 ratio of 15.7%, up 40 basis points versus the prior quarter, as net income and lower RWA were largely offset by both OCI losses and capital distributions, which included $4 billion of net common share repurchases this quarter. Source: earnings call transcript	15.4% We ended the quarter with a CET1 ratio of 15.4%, down 30 basis points versus the prior quarter, as net income and OCI gains were more than offset by capital distributions and higher RWA. Source: earnings call transcript	15% We ended the quarter with a CET1 ratio of 15%, down 40 basis points versus the prior quarter as net income was more than offset by capital distributions and higher RWA. Source: earnings call transcript	14.8% And in terms of the balance sheet, we ended the quarter with a CET1 ratio of 14.8%, down 30 basis points versus the prior quarter. Source: earnings call transcript	14.5% And in terms of the balance sheet, we ended the quarter with a standardized CET1 ratio of 14.5%, down 30 basis points versus the prior quarter, as net income was more than offset by capital distributions and higher RWA. Source: earnings call transcript	14.3% And in terms of the balance sheet, we ended the quarter with a standardized CET1 ratio of 14.3%, down 30 basis points versus the prior quarter as net income was more than offset by capital distributions and higher RWA. Source: earnings call transcript	14.1% And in terms of the balance sheet, we ended the quarter with a standardized CET1 ratio of 14.1%, down 20 basis points versus the prior quarter as net income was more than offset by higher RWA and capital distributions. Source: earnings call transcript	13.9% In terms of the balance sheet, we ended the quarter with a standardized CET1 ratio of 13.9%, down 30 basis points versus the prior quarter as net income was more than offset by OCI losses, higher RWA and capital distributions. Source: earnings call transcript	-0.2 pt
Long-term net inflows Asset & Wealth Management	$76B Long-term net inflows were $76 billion for the quarter, positive across all asset classes. Source: earnings call transcript	$54B Long-term net inflows were $54 billion for the quarter, primarily driven by equity and fixed income. Source: earnings call transcript	$31B Long-term net inflows were $31 billion for the quarter led by fixed income and equities. Source: earnings call transcript	$72B Long-term net inflows were $72 billion for the quarter, led by fixed income and equities. Source: earnings call transcript	$52B Long-term net inflows were $52 billion for the quarter and $209 billion for the full year, positive across all channels, regions and asset classes. Source: earnings call transcript	$54B Long-term net inflows were $54 billion with continued strength across fixed income, equity and multi-asset. Source: earnings call transcript	$50B Long-term net inflows were $50 billion with continued strength across fixed income and equity. Source: earnings call transcript	$51B Long-term net inflows were $51 billion, largely driven by continued strength in fixed income. Source: earnings call transcript	+2%

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