Start with its own history
At 15.16×, JPM is 17.7% above its 10-observation annual average. A lower multiple can reflect a lower price, higher earnings, or weaker growth expectations—not necessarily a bargain.
NYSE · JPMBanks - DiversifiedUpdated Nov 5, 2026
JPMorgan Chase & Co. P/E ratio
Current valuation, historical context, and peer comparisons.
Current P/E ratio
15.16×
17.7% abovethe 10-year annual average
Share price352.11
÷Earnings per share23.23
Price and EPS in quote currency. Calculation details
Investors are paying 15.16 for every 1 of reported earnings per share.
P/E over time
2016 – 2025
Annual P/ESelected-period average 12.88×
3-year average12.88×3 positive annual observations
5-year average12.00×5 positive annual observations
10-year average12.88×10 positive annual observations
Peer median · TTM12.65×8 peers with positive P/E
Historical P/E ratios
Annual period-end data · 25 observations
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2025 | 16.07× | +32.7% |
| Dec 31, 2024 | 12.11× | +15.7% |
| Dec 31, 2023 | 10.47× | -5.5% |
| Dec 31, 2022 | 11.08× | +7.7% |
| Dec 31, 2021 | 10.29× | -28.0% |
| Dec 31, 2020 | 14.29× | +10.2% |
| Dec 31, 2019 | 12.97× | +20.1% |
| Dec 31, 2018 | 10.80× | -35.9% |
View all 25 annual observations +
| Period end | P/E | Change |
|---|---|---|
| Dec 31, 2017 | 16.84× | +21.8% |
| Dec 31, 2016 | 13.83× | +26.7% |
| Dec 31, 2015 | 10.91× | -7.0% |
| Dec 31, 2014 | 11.74× | -12.1% |
| Dec 31, 2013 | 13.35× | +58.5% |
| Dec 31, 2012 | 8.42× | +14.0% |
| Dec 31, 2011 | 7.39× | -30.7% |
| Dec 31, 2010 | 10.66× | -41.9% |
| Dec 31, 2009 | 18.36× | -17.9% |
| Dec 31, 2008 | 22.36× | +124.4% |
| Dec 31, 2007 | 9.97× | -14.2% |
| Dec 31, 2006 | 11.61× | -28.9% |
| Dec 31, 2005 | 16.33× | -33.4% |
| Dec 31, 2004 | 24.53× | +121.8% |
| Dec 31, 2003 | 11.06× | -62.7% |
| Dec 31, 2002 | 29.63× | -32.3% |
| Dec 31, 2001 | 43.80× | N/M |
Change is relative to the preceding observation. N/M values are excluded from averages.
How JPM compares
Company P/E vs. peer trailing-12-month ratios
| Company | P/E ratio |
|---|---|
 JPM This stockJPMorgan Chase & Co. | 15.16× |
 BACBank of America Corporation | 12.12× |
 CCitigroup Inc. | 11.95× |
 WFCWells Fargo & Company | 12.11× |
 HSBCHSBC Holdings plc | 11.47× |
 GSThe Goldman Sachs Group, Inc. | 13.17× |
 MSMorgan Stanley | 15.30× |
 UBSUBS Group AG | 16.67× |
 MUFGMitsubishi UFJ Financial Group, Inc. | 14.50× |
Peers are selected by the data provider. Business models and earnings definitions can differ.
Put the numbers in context
What does JPM’s P/E tell you?
Compare like with like
The median of the 8 positive peer ratios above is 12.65×. Check growth, margins, debt, and earnings quality before interpreting the gap. A faster-growing business may justify a higher multiple.
Check what drives earnings
One-off gains can temporarily lower P/E; unusual charges can raise it. Reported earnings and forward estimates answer different questions. Pair this view with return on equity and liquidity for a fuller picture.
Keep your research connected
Take JPM into your spreadsheet
Pull historical P/E into Excel or Google Sheets with Wisesheets. Build your own comparisons alongside the rest of your financial model.
Explore WisesheetsQuarterly P/E · latest quarterLQ selects the latest reported quarter. Requires the Wisesheets add-in. See available data
=WISE("JPM", "PE Ratio", "LQ")Sources & calculation methodology
Current P/E
Share price 352.11 ÷ EPS 23.23 = 15.16×. Data is supplied by Financial Modeling Prep through Wisesheets. Quote feed updated Nov 5, 2026; this is not a real-time trading quote.
History & averages
Annual and quarterly P/E observations are provided separately from the current quote. Averages use the latest 3, 5, or 10 annual observations, excluding missing and nonpositive ratios. Pre-IPO observations are omitted. These are period-end observations, not daily averages.
Data definitions and limitations
The current quote feed does not specify the exact EPS filing-period end or whether EPS is basic or diluted. We do not label it as forward P/E. Peer ratios are explicitly trailing-12-month (TTM) values. Historical observations do not include independently verified price and EPS inputs. Sources may update on different schedules; rounded inputs can produce small calculation differences. Historical comparisons describe past pricing, not an estimate of fair value.
JPM P/E ratio: common questions
The essentials behind the numbers.
JPMorgan Chase & Co.'s current P/E is 15.16× based on the quote data last updated Nov 5, 2026. It represents the share price divided by reported earnings per share. Prices and earnings may refresh on different schedules.
Annual P/E uses earnings for a completed fiscal year. Trailing-12-month (TTM) P/E uses the latest four quarters, while forward P/E uses forecast earnings. These are not interchangeable. This page labels peer ratios as TTM and shows dated annual or quarterly historical observations; it does not show forward estimates.
N/M means not meaningful: the feed has no positive P/E for that observation. Negative or zero earnings should not be ranked as a low positive valuation multiple. N/M observations are excluded from the averages shown above.
Divide the share price by earnings per share (EPS). For example, a share price of 100 and EPS of 5 gives a P/E of 20×. This page uses the price and EPS supplied together in the quote when both are positive.
Price timestamps, EPS definitions, share classes, adjustments, and fiscal periods can differ. A forward P/E also uses forecast earnings rather than reported earnings. Compare the inputs and as-of dates before comparing two displayed ratios.
Not necessarily. The average describes previous market pricing, not fair value. Changes in earnings quality, growth expectations, debt, accounting, and business risk can justify a different multiple today.