Total Operating Expenses
JPMorgan Chase Total Operating Expenses increased by 12.0% to $26.85B in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 13.8%, from $23.60B to $26.85B. Over 4 years (FY 2021 to FY 2025), Total Operating Expenses shows an upward trend with a 7.6% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase faster than revenue growth suggests declining operating margins, while slower growth indicates effective cost control.
Detailed definition
Total operating expenses represent the sum of all costs incurred to operate the business, excluding the cost of goods so...
Peer comparison
Used to calculate operating margin; peers in the healthcare sector monitor this closely to manage profitability against R&D requirements.
total_operating_expensesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $17.67B | $17.06B | $17.89B | $19.19B | $18.75B | $19.18B | $19.02B | $20.11B | $20.82B | $21.76B | $24.49B | $22.76B | $23.71B | $22.57B | $22.76B | $23.60B | $23.78B | $24.28B | $23.98B | $26.85B |
| QoQ Change | — | -3.4% | +4.8% | +7.3% | -2.3% | +2.3% | -0.8% | +5.7% | +3.6% | +4.5% | +12.5% | -7.1% | +4.2% | -4.8% | +0.9% | +3.7% | +0.8% | +2.1% | -1.2% | +12.0% |
| YoY Change | — | — | — | — | +6.1% | +12.4% | +6.3% | +4.8% | +11.1% | +13.4% | +28.7% | +13.2% | +13.9% | +3.7% | -7.0% | +3.7% | +0.3% | +7.6% | +5.4% | +13.8% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Commercial & Investment Bank | $9.17B | $8.75B | $8.71B | $9.84B | $9.64B | $9.72B | $9.01B | $11.14B |
| Consumer & Community Banking | $9.43B | $9.59B | $9.73B | $9.86B | $9.86B | $10.30B | $10.26B | $10.98B |
| Asset & Wealth Management | $3.54B | $3.64B | $3.77B | $3.71B | $3.73B | $3.82B | $4.07B | $4.17B |
| Total | $23.71B | $22.57B | $22.76B | $23.60B | $23.78B | $24.28B | $23.98B | $26.85B |
Commercial Banking was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is JPMorgan Chase's total operating expenses?
- JPMorgan Chase (JPM) reported total operating expenses of $26.85B in Q1 2026.
- How has JPMorgan Chase's total operating expenses changed year-over-year?
- JPMorgan Chase's total operating expenses increased by 13.8% year-over-year, from $23.60B to $26.85B.
- What is the long-term trend for JPMorgan Chase's total operating expenses?
- Over 4 years (2021 to 2025), JPMorgan Chase's total operating expenses has grown at a 7.6% compound annual growth rate (CAGR), from $71.34B to $95.64B.
- What does total operating expenses mean?
- The total cost of running the business, including all non-production expenses.