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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. JPMorgan Chase's retained earnings for the quarter that ended in Mar. 2026 was $428,206 Mil.
JPMorgan Chase's quarterly retained earnings
increased
from Sep. 2025 ($407,401 Mil) to Dec. 2025 ($416,055 Mil) and
increased
from Dec. 2025 ($416,055 Mil) to Mar. 2026 ($428,206 Mil).
JPMorgan Chase's annual retained earnings
increased
from Dec. 2023 ($332,901 Mil) to Dec. 2024 ($376,166 Mil) and
increased
from Dec. 2024 ($376,166 Mil) to Dec. 2025 ($416,055 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
JPMorgan Chase Retained Earnings Historical Data
* Premium members only.
The historical data trend for JPMorgan Chase's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $428,206 Mil mean?
JPMorgan Chase (JPM) has a Retained Earnings of $428,206 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on JPMorgan Chase and its competitors.
Is JPMorgan Chase's Retained Earnings too high?
JPMorgan Chase's current Retained Earnings is $428,206 Mil. Overall, JPMorgan Chase has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JPMorgan Chase's Retained Earnings compare to BAC and WFC?
JPMorgan Chase's Retained Earnings of $428,206 Mil can be compared against companies in the Banks industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Banks company?
A good Retained Earnings depends on the Banks industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on JPMorgan Chase and its competitors. JPMorgan Chase's current Retained Earnings is $428,206 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JPMorgan Chase stock overvalued right now?
Based on GuruFocus' analysis, JPMorgan Chase (JPM) is currently considered Modestly Overvalued. The stock's GF Value™ is $280.64, compared to a current price of $346.91 — trading 23.6% above its estimated fair value. The current Retained Earnings is $428,206 Mil. JPMorgan Chase's overall GF Score™ is 78/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For JPMorgan Chase (JPM), the current Retained Earnings is $428,206 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is JPMorgan Chase (JPM) Overvalued in 2026?
Based on GuruFocus' analysis, JPMorgan Chase stock appears to be overvalued.
The current stock price of $346.91 is trading 23.6% above its estimated GF Value™ of $280.64.
GuruFocus considers JPMorgan Chase to be Modestly Overvalued.
Key valuation signals for JPM:
Retained Earnings: $428,206 Mil
GF Value™: $280.64 vs. price of $346.91 (23.6% above fair value)
No single metric tells the full story. See the JPM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
JPMorgan is a leading global financial services firm with operations in 66 countries and over 318,000 employees as of year-end 2025. Under the JPMorgan brands, the bank holding company boasts a $4.9 trillion balance sheet and $2.68 trillion in deposits, as of March 2026. The firm generates its revenue across three core operating segments: consumer and community banking, the commercial and investment bank, and asset and wealth management. It maintains the top global ranking in investment banking fees with an 8.4% market share, serves millions of consumers through its network of over 5,000 US branches, and manages over $7.1 trillion in client assets within its wealth and asset management franchise.
78GF Score
Get the complete analysis for JPM
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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