---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-010693"
form_type: "8-K"
ticker: "JPM"
cik: "0000019617"
company_name: "JPMORGAN CHASE & CO"
filed_at: "2026-02-23T23:59:59+00:00"
generated_at: "2026-05-16T01:16:36.384810+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# JPMorgan 2026 outlook: NII ~$104.5B, expense ~$105B, ROTCE target 17%

## Summary
- FY25 revenue $186B, net income $57B (+8% YoY), ROTCE 20%.
- 2026 NII ex Markets ~$95B; firmwide NII ~$104.5B.
- 2026 adj expense ~$105B (+~9% YoY); card NCO rate ~3.4%.
- Long-term through-the-cycle ROTCE target reaffirmed at 17%.
- Dividend 4Q25 $1.50/sh, up from $1.25 in 4Q24.

## SEC filing metadata
- accession: 0001628280-26-010693
- form_type: 8-K
- ticker: JPM
- cik: 0000019617
- company_name: JPMORGAN CHASE & CO
- filed_at: 2026-02-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/19617/000162828026010693/0001628280-26-010693-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/19617/000162828026010693/jpm-20260223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-010693
- JSON: https://secwatch.observer/filing/0001628280-26-010693.json
- Plain text: https://secwatch.observer/filing/0001628280-26-010693.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.