JPMorgan Chase & Co

Company facts

Industry

National Commercial Banks

Headquarters

New York, New York

Most recent report

10-Q, filed Nov 3, 2026

Incorporated

Delaware

Filings on record

26,470+ filings

On EDGAR

CIK 19617

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 3 of 18 sections worth reading, with 1 positive, 16 notable, and 2 negative flags.

• Consolidated statements of income

  Financial statements and notes with material one-time gains, Apple Card acquisition, and credit quality details.
  Notable

  • Q2 2026 included a $4.6B net gain from Visa share exchange and $1.0B gains on equity investments, distorting comparability.
  • Q4 2025 provision included $2.2B associated with the Apple Card transaction, a forward purchase commitment to acquire the portfolio.
  • Firm expects Q4 2026 NII of ~$28B and full-year 2026 adjusted expense of ~$108.6B.

• Consolidated balance sheets analysis

  Dense with segment results, capital ratios, credit quality, and regulatory changes.
  Positive

  • CIB net income rose 20% to $8.2B in Q3 2026, driven by 49% growth in Equity Markets revenue.
  Notable

  • AWM assets under management reached $5.2T, up 13% from a year ago, driven by net inflows and higher markets.
  • U.S. Basel III Re-Proposal and GSIB Surcharge Re-Proposal would increase required CET1 capital by ~4% vs current rules.
  • Firm early adopted the enhanced SLR final rule effective January 1, 2026; SLR was 5.5% vs 4.3% requirement.
  • Quarterly dividend raised to $1.65 per share from $1.50, announced September 15, 2026.
  • Board authorized a new $50B buyback program effective July 1, 2026, replacing the prior $50B program.
  • Firmwide estimated uninsured deposits were $1,780.9B at September 30, 2026, up from $1,558.6B at year-end 2025.
  • Criticized wholesale exposure increased to $52.1B from $48.5B at year-end 2025, driven by Consumer & Retail and Technology.
  • Total VaR increased to $48M average in Q3 2026 from $33M a year ago, driven by equity investments in Corporate.
  • 23 VaR backtesting exceptions in the trailing 12 months, driven by volatility after IPOs of certain equity investments.
  • Credit card rewards liability grew to $17.4B from $16.0B at year-end 2025.

• NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited)

  Dense company-specific substance: Apple Card deal, Visa gain, Russian judgments, strong results. Must-read.
  Notable

  • About $2.6B after-tax cash-flow-hedge losses sitting in AOCI will hit income over the next 12 months.
  • Early eSLR adoption cut leverage requirements: BHC 5.0% to 4.3%, IDI 6.0% to 4.0%, effective Jan 1, 2026.
  • Firm estimates reasonably possible litigation losses beyond reserves at $0 to roughly $1.3B as of Sept 30, 2026.
  Negative

  • Modified-card defaults rose to $179M for 9mo 2026 from $75M for 9mo 2025, a doubling that shows consumer strain.
  • Russian court judgments now exceed all Firm assets held there; $439M judgment stayed pending appeal; assets frozen, can't pay due to sanctions.

What changed: Sep 2026 vs. Jun 2026

About 6% of JPM's Sep 2026 10-Q is new information. 108 paragraphs were added, 746 changed, and 74 removed. Below are the most important lines SECSift identified.

• Consolidated balance sheets analysis 322
• NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited) 226
• Consolidated statements of income 126
• Item 5 11
• Item 2 4
• Consolidated balance sheets (unaudited) 1
• Consolidated statements of cash flows (unaudited) 1
• Item 4 1
• Item 1A 1
• Item 6 1