Ford vs JPMorgan Chase: Revenue, Profit and Business Model
Ford reported $187.3B of revenue in FY2025 and a net loss of $8.2B. JPMorgan Chase reported $182.4B of revenue in FY2025 and $57B of net income.
Latest financial snapshot
Ford
- Latest revenue
- $187.3B (FY2025)
- Net income
- -$8.2B
- Net margin
- -4.4%
- Revenue growth
- +2.4% a year, FY2016–FY2025
JPMorgan Chase
- Latest revenue
- $182.4B (FY2025)
- Net income
- $57B
- Net margin
- 31.3%
- Revenue growth
- +7.3% a year, FY2016–FY2025
Financial summary
Ford
Ford's numbers show a profitable truck and fleet business funding an expensive EV reset. FY2025 revenue rose 1.2% to $187.267B, but Ford posted an $8.162B net loss as Model e lost $4.806B at EBIT and the company took charges tied to its December 2025 decision to cancel some EV programs. Ford Pro earned $6.843B of EBIT. In Q2 2026, revenue fell 4% to $48.3B on lower wholesale volumes and aluminum shortages linked to supplier Novelis, and the $1.3B net loss included $3.6B of charges for exiting the BlueOval SK battery joint venture. Adjusted EBIT still rose 17% to $2.5B, adjusted free cash flow was $2.1B, and liquidity exceeded $43B.
JPMorgan Chase
JPMorgan's revenue grew from $128.7 billion in FY2022 to $158.1 billion in FY2023, helped by higher rates and First Republic, then to $177.6 billion in FY2024 and $182.4 billion in FY2025. Net income was $58.5 billion in FY2024 and $57.0 billion in FY2025. 2026 has been stronger: first-quarter net income was $16.5 billion on $50.5 billion of revenue, and second-quarter reported net income was $21.2 billion ($7.70 per share) on about $57 billion of revenue, including a $4.6 billion gain on Visa shares. Excluding significant items, 2Q26 net income was $16.9 billion with a 23% return on tangible common equity. Management raised full-year 2026 net interest income guidance to about $105.5 billion.
Revenue and profit by year
Ford
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $187.3B | -$8.2B | -4.4% | +1.2% | Source |
| FY2024 | $185B | $5.9B | 3.2% | +5.0% | Source |
| FY2023 | $176.2B | $4.3B | 2.5% | +11.5% | Source |
| FY2022 | $158.1B | -$2B | -1.3% | +15.9% | Source |
| FY2021 | $136.3B | $17.9B | 13.2% | +7.2% | Source |
| FY2020 | $127.1B | -$1.3B | -1.0% | -18.4% | Source |
| FY2019 | $155.9B | $84M | 0.1% | -2.8% | Source |
| FY2018 | $160.3B | $3.7B | 2.3% | +2.3% | Source |
| FY2017 | $156.8B | $7.8B | 4.9% | +3.3% | Source |
| FY2016 | $151.8B | $4.6B | 3.0% | — | Source |
JPMorgan Chase
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $182.4B | $57B | 31.3% | +2.8% | Source |
| FY2024 | $177.6B | $58.5B | 32.9% | +12.3% | Source |
| FY2023 | $158.1B | $49.6B | 31.3% | +22.9% | Source |
| FY2022 | $128.7B | $37.7B | 29.3% | +5.8% | Source |
| FY2021 | $121.6B | $48.3B | 39.7% | +1.4% | Source |
| FY2020 | $120B | $29.1B | 24.3% | +3.7% | Source |
| FY2019 | $115.7B | $36.4B | 31.5% | +6.4% | Source |
| FY2018 | $108.8B | $32.5B | 29.9% | +8.0% | Source |
| FY2017 | $100.7B | $24.4B | 24.3% | +4.3% | Source |
| FY2016 | $96.6B | $24.7B | 25.6% | — | Source |
Where the revenue comes from
Ford
- Ford Blue~54%
Combustion and hybrid Ford and Lincoln retail vehicles generated $101.019B of FY2025 revenue.
- Ford Pro~35%
Commercial vehicles, fleet services, telematics, charging, and related customer relationships generated $66.286B of FY2025 revenue.
- Ford Model e~4%
Electric vehicles, EV technologies, and related software generated $6.670B of FY2025 revenue while remaining loss-making.
- Ford Credit and Other~7%
Vehicle financing, leasing, and other corporate activities complete Ford's consolidated revenue base.
JPMorgan Chase
- Consumer & Community Banking
~41% of managed revenue
CCB generated $76.029 billion in FY2025 managed-basis total net revenue from deposits, cards, lending, branches, and consumer payments.
- Commercial & Investment Bank
~42% of managed revenue
CIB generated $78.454 billion in FY2025 managed-basis total net revenue from investment banking, markets, payments, commercial banking, and securities services.
- Asset & Wealth Management
~13% of managed revenue
AWM generated $24.073 billion in FY2025 managed-basis total net revenue from asset management fees, private banking, lending, deposits, and advisory.
- Corporate
~4% of managed revenue
Corporate generated $7.025 billion in FY2025 managed-basis total net revenue from treasury, investments, and corporate activities.
Business model and strategy
Ford
How it makes money
Ford designs, builds, and sells vehicles through roughly 9,000 independent Ford and Lincoln dealers worldwide and reports three operating segments plus Ford Credit. Ford Blue sells gas and hybrid retail vehicles such as the F-150, Bronco, Explorer, and Maverick ($101.0B of FY2025 revenue).
Growth strategy
After its December 2025 EV reset, Ford is concentrating capital on trucks, hybrids, and higher-margin services rather than large first-generation battery-electric programs.
Competitive advantage
Ford's clearest moat is the F-Series truck franchise, the best-selling pickup line in the U.S. every year since 1977, combined with Ford Pro's position in commercial vans and Super Duty trucks. Fleet customers buy vehicles, service, parts, telematics, and financing from one supplier, and Ford's upfitter, dealer, and mobile-service network is hard for EV startups or importers to replicate.
JPMorgan Chase
How it makes money
JPMorgan Chase makes money in two ways: net interest income (the spread between what it earns on loans and securities and what it pays on deposits and funding) and fee-based noninterest revenue from investment banking, trading, card and payment fees, and asset management. In FY2025 managed revenue of $185.6 billion came from three main segments.
Growth strategy
JPMorgan's growth plan is mostly organic. It keeps opening Chase branches in U.S. markets where it is underrepresented, expands its digital bank in Europe (Chase UK launched in 2021), adds bankers and advisers in commercial banking and wealth management, and invests heavily in technology and AI.
Competitive advantage
JPMorgan's edge is scale across businesses that reinforce each other. A deposit base of about $2.4 trillion (average, 2Q26) funds lending at low cost, the Chase brand feeds card and wealth relationships, and the Commercial & Investment Bank ranks at or near the top of global investment-banking fee tables.
Questions about Ford vs JPMorgan Chase
Which company has higher revenue — Ford Motor Company or JPMorgan Chase & Co.?
Ford Motor Company reported $187.3B (FY2025), while JPMorgan Chase & Co. reported $182.4B (FY2025). By last reported revenue, Ford Motor Company is the larger business, with JPMorgan Chase & Co. reporting a smaller revenue base.
What is the market cap of Ford Motor Company vs JPMorgan Chase & Co.?
Ford Motor Company's market capitalisation stands at $48.0B, while JPMorgan Chase & Co.'s is $941.7B. JPMorgan Chase & Co. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Ford Motor Company.
Which is more financially efficient — Ford Motor Company or JPMorgan Chase & Co.?
Ford Motor Company generates $1.11M / employee in revenue per employee, while JPMorgan Chase & Co. generates $573k / employee. Ford Motor Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Ford Motor Company and JPMorgan Chase & Co. make money?
Ford Motor Company and JPMorgan Chase & Co. generate revenue in fundamentally different ways. Ford Motor Company: Ford designs, builds, and sells vehicles through roughly 9,000 independent Ford and Lincoln dealers worldwide and reports three operating segments plus Ford Credit. JPMorgan Chase & Co.: JPMorgan Chase makes money in two ways: net interest income (the spread between what it earns on loans and securities and what it pays on deposits and funding) and fee-based noninterest revenue from investment banking, trading, card and payment fees, and asset management.
Which company is valued higher relative to revenue — Ford Motor Company or JPMorgan Chase & Co.?
On a price-to-sales (P/S) basis, Ford Motor Company trades at 0.3x P/S and JPMorgan Chase & Co. at 5.2x P/S. JPMorgan Chase & Co. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Ford Motor Company. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Ford Motor Company bigger than JPMorgan Chase & Co.?
By last reported revenue, Ford Motor Company ($187.3B (FY2025)) is the larger company compared to JPMorgan Chase & Co. ($182.4B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Ford vs JPMorgan Chase overview