A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
AMERICAN EXPRESS CO
AXP
$228.5B
Mkt Cap
$326.17
-4.30%
AMERICAN EXPRESS CO (AXP) has a current P/E ratio of 21.2, compared to its historical median P/E of 16.0. The stock is currently considered Fair based on its historical valuation range.
AMERICAN EXPRESS CO (AXP) has a 5-year average return on invested capital (ROIC) of 12.3%. This indicates solid capital allocation.
AMERICAN EXPRESS CO (AXP) has a market capitalization of $222.4B. It is classified as a mega-cap stock.
Yes, AMERICAN EXPRESS CO (AXP) pays a dividend with a trailing twelve-month yield of 1.05%. The company also returns capital through share buybacks, with a buyback yield of 2.93%.
Based on historical P/E analysis, AMERICAN EXPRESS CO (AXP) appears fair. The current P/E of 21.2 is 33% above its historical median of 16.0. The estimated fair value CAGR (P/E method) is 14.8%.
AMERICAN EXPRESS CO (AXP) operates in the Finance Services industry, within the Financials sector.
AMERICAN EXPRESS CO (AXP) reported annual revenue of $41.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
American Express is a global payments and premium lifestyle brand that operates an integrated card-issuing, merchant-acquiring, and card network business serving consumers, small businesses, mid-sized companies, and large corporations worldwide. The company generates revenue primarily through spending on its cards, complemented by finance charges, annual fees, and merchant discount rates, supported by a Membership Model that delivers premium rewards, lifestyle benefits, and business-centric solutions co-created with strategic partners. American Express maintains direct relationships with both cardholders and merchants, providing differentiated data and analytics capabilities that inform fraud prevention, credit underwriting, and targeted marketing—a structural advantage over traditional bankcard networks. The company's premium customer focus and high-spending card base attract merchant partners and enable partnerships with major brands such as Delta Air Lines, Marriott International, and others that enhance member value and drive scale. With worldwide billed business of $1,670 billion and 86.6 million proprietary cards-in-force as of December 31, 2025, American Express operates across four reportable segments—U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services—with significant geographic presence in the United States, United Kingdom, European Union, Australia, Japan, Canada, and Mexico.
【Premium momentum and investment acceleration】 Management expects to continue delivering strong growth momentum driven by premium customer strength and ongoing investments in product value propositions and technology. The company is increasing marketing investments in the mid-single digits for 2026 to support long-term growth, while maintaining confidence in stable credit metrics and expecting card fee growth to accelerate as Platinum card refresh impacts flow through the year. Operating expenses are expected to grow in the mid-single digits, with the variable cost of earnings ratio anticipated to be around 44% for 2026, reflecting continued investment in premium products and mix shift toward higher-value offerings. Management expects net interest income growth to continue outpacing loan and receivables growth, and plans to return excess capital to shareholders while supporting growth investments, with no material change expected to capital management approach in the near term.
| Metric | Target | Period |
|---|---|---|
| Revenue growth | 9%-10% | FY2026 |
| Earnings per share | $17.30-$17.90 | FY2026 |
Revenue growth (FY2026): “we're reaffirming our full- year 2026 guidance of 9%-10% annual revenue growth”
Earnings per share (FY2026): “EPS of $17.30-$17.90”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q3 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 74.2B | 41.3B | 38.8B | 37.2B | 34.2B | 27.7B |
| Net Income | 11.2B | 10.8B | 10.1B | 8.3B | 7.5B | 8.0B |
| EPS | $16.22 | $15.38 | $14.01 | $11.21 | $9.85 | $10.02 |
| Free Cash Flow | 14.3B | 16.0B | 12.1B | 17.0B | 19.2B | 13.1B |
| ROIC | 0.0% | 12.7% | 12.9% | 11.6% | 11.6% | 12.6% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 1.78 | 1.73 | 1.69 | 1.75 | 1.78 | 1.85 |
| Dividends/Share | $3.44 | $3.28 | $2.80 | $2.40 | $2.08 | $1.72 |
| Operating Income | 0 | 13.8B | 12.9B | 10.5B | 9.6B | 10.7B |
| Operating Margin | 0.0% | 33.4% | 33.2% | 28.2% | 28.0% | 38.6% |
| ROE | 32.8% | 33.8% | 34.5% | 31.5% | 31.8% | 35.3% |
| Shares Outstanding | 682M | 701M | 719M | 742M | 757M | 796M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 34.2B | 32.8B | 24.2B | 24.8B | 26.6B | 28.2B | 22.0B | 27.7B | 34.2B | 37.2B | 38.8B | 41.3B | 74.2B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 6.1B | 5.0B | 5.3B | 5.3B | 5.3B | 5.9B | 5.7B | 6.2B | 7.3B | 8.1B | 8.2B | 9.0B | 9.4B |
| EBIT | 3.0B | 2.0B | 1.7B | 1.5B | 1.4B | 1.4B | 874M | 10.7B | 9.6B | 10.5B | 12.9B | 13.8B | 0 |
| Op. Margin | 8.7% | 6.2% | 6.9% | 5.9% | 5.1% | 5.1% | 4.0% | 38.6% | 28.0% | 28.2% | 33.2% | 33.4% | 0.0% |
| Net Income | 5.9B | 5.2B | 5.3B | 2.7B | 6.8B | 6.7B | 3.1B | 8.0B | 7.5B | 8.3B | 10.1B | 10.8B | 11.2B |
| Net Margin | 17.2% | 15.7% | 21.8% | 10.8% | 25.7% | 23.7% | 13.9% | 28.8% | 21.8% | 22.3% | 25.9% | 26.1% | 15.0% |
| Non-Recurring | 411M | 245M | 876M | 722M | 555M | 125M | 126M | 10M | 142M | 179M | 654M | 96M | 96M |
| Returns on Capital | |||||||||||||
| ROIC | 7.7% | 7.0% | 7.8% | 3.8% | 8.8% | 8.3% | 4.2% | 12.6% | 11.6% | 11.6% | 12.9% | 12.7% | 0.0% |
| ROE | 29.3% | 25.0% | 25.7% | 13.8% | 33.7% | 29.4% | 13.3% | 35.3% | 31.8% | 31.5% | 34.5% | 33.8% | 32.8% |
| ROA | 3.8% | 3.2% | 3.3% | 1.6% | 3.7% | 3.5% | 1.6% | 4.2% | 3.6% | 3.4% | 3.8% | 3.8% | 3.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 11.0B | 10.7B | 8.3B | 13.5B | 8.9B | 13.6B | 5.6B | 14.6B | 21.1B | 18.6B | 14.1B | 18.4B | 17.5B |
| Free Cash Flow | 9.8B | 9.4B | 6.9B | 12.5B | 7.6B | 12.0B | 4.1B | 13.1B | 19.2B | 17.0B | 12.1B | 16.0B | 14.3B |
| Owner Earnings | 10.5B | 10.3B | 7.8B | 13.1B | 8.4B | 13.3B | 5.3B | 14.3B | 20.7B | 18.1B | 13.5B | 17.8B | 3.5B |
| CapEx | 1.2B | 1.3B | 1.4B | 1.1B | 1.3B | 1.6B | 1.5B | 1.6B | 1.9B | 1.6B | 1.9B | 2.4B | 3.1B |
| Maint. CapEx | 174M | 183M | 194M | 207M | 212M | 49M | 54M | 57M | 51M | 49M | 46M | 36M | 13.4B |
| Growth CapEx | 1.0B | 1.2B | 1.2B | 855M | 1.1B | 1.6B | 1.4B | 1.5B | 1.8B | 1.5B | 1.9B | 2.4B | 0 |
| D&A | 174M | 183M | 194M | 207M | 212M | 49M | 54M | 57M | 51M | 49M | 46M | 36M | 13.4B |
| CapEx/OCF | 10.9% | 12.5% | 16.6% | 7.8% | 14.7% | 12.1% | 26.4% | 10.6% | 8.8% | 8.4% | 13.6% | 13.2% | 18.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 1.0B | 1.2B | 1.2B | 1.3B | 1.3B | 1.4B | 1.5B | 1.4B | 1.6B | 1.8B | 2.0B | 2.3B | 2.3B |
| Dividend Yield | 1.3% | 1.7% | 2.3% | 1.9% | 1.7% | 1.6% | 1.9% | 1.2% | 1.3% | 1.5% | 1.2% | 1.0% | 1.1% |
| Share Buybacks | 4.4B | 4.5B | 4.4B | 4.3B | 1.6B | 0 | 1.0B | 7.7B | 3.5B | 3.6B | 6.0B | 5.8B | 6.5B |
| Buyback Yield | 5.2% | 7.3% | 7.1% | 5.4% | 2.2% | N/A | 1.1% | 6.2% | 3.3% | 2.7% | 2.8% | 2.2% | 2.9% |
| Stock-Based Comp | 290M | 234M | 254M | 282M | 283M | 283M | 249M | 330M | 375M | 450M | 504M | 551M | 596M |
| Debt Repayment | 12.8B | 19.2B | 9.8B | 24.1B | 18.9B | 13.8B | 15.6B | 11.7B | 18.9B | 10.7B | 10.8B | 18.2B | 18.2B |
| Balance Sheet | |||||||||||||
| Net Debt | 56.6B | 25.9B | 24.0B | 25.7B | 33.5B | 39.6B | 11.7B | 18.7B | 9.7B | 2.4B | 10.2B | 9.2B | 6.4B |
| Cash & Equiv. | 470M | 23.2B | 25.5B | 33.3B | 27.8B | 24.4B | 33.0B | 22.0B | 33.9B | 46.6B | 40.6B | 47.8B | 54.0B |
| Long-Term Debt | 58.0B | 48.1B | 47.0B | 55.8B | 58.4B | 57.8B | 43.0B | 38.7B | 42.6B | 47.9B | 49.7B | 56.4B | 58.8B |
| Debt/Equity | 2.97 | 2.56 | 2.56 | 3.24 | 2.76 | 2.79 | 1.95 | 1.85 | 1.78 | 1.75 | 1.69 | 1.73 | 1.78 |
| Interest Coverage | 1.8 | 1.3 | 1.0 | 0.7 | 0.5 | 0.4 | 0.4 | 8.3 | 3.5 | 1.5 | 0.2 | 0.2 | 0.2 |
| Equity | 20.7B | 20.7B | 20.5B | 18.3B | 22.3B | 23.1B | 23.0B | 22.2B | 24.7B | 28.1B | 30.3B | 33.5B | 34.0B |
| Total Assets | 159.0B | 161.0B | 159.0B | 181.0B | 189.0B | 198.0B | 191.0B | 189.0B | 228.4B | 261.1B | 271.5B | 300.1B | 308.9B |
| Total Liabilities | 138.4B | 140.5B | 138.4B | 162.9B | 166.3B | 175.3B | 168.4B | 166.4B | 203.6B | 233.1B | 241.2B | 266.6B | 274.9B |
| Intangibles | 854M | 796M | 868M | 899M | 275M | 267M | 265M | 201M | 146M | 98M | 123M | 90M | 90M |
| Retained Earnings | 9.5B | 9.7B | 10.4B | 8.3B | 12.5B | 13.9B | 13.8B | 13.5B | 16.3B | 19.6B | 22.1B | 25.5B | 26.1B |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 5.56 | 5.05 | 5.61 | 2.99 | 7.91 | 7.99 | 3.77 | 10.02 | 9.85 | 11.21 | 14.01 | 15.38 | 16.22 |
| Owner EPS | 9.94 | 10.06 | 8.31 | 14.63 | 9.75 | 15.91 | 6.52 | 17.92 | 27.28 | 24.34 | 18.78 | 25.47 | 5.16 |
| Book Value | 19.53 | 20.22 | 21.74 | 20.47 | 25.77 | 27.60 | 28.35 | 27.87 | 32.64 | 37.82 | 42.10 | 47.78 | 49.85 |
| Cash Flow/Share | 10.38 | 10.47 | 8.78 | 15.18 | 10.33 | 16.31 | 6.90 | 18.40 | 27.84 | 25.02 | 19.55 | 26.30 | 35.94 |
| Dividends/Share | 1.01 | 1.13 | 1.22 | 1.34 | 1.48 | 1.64 | 1.72 | 1.72 | 2.08 | 2.40 | 2.80 | 3.28 | 3.44 |
| Shares Out. | 1.1B | 1.0B | 943.9M | 892.0M | 864.9M | 835.8M | 810.6M | 795.7M | 757.1M | 741.8M | 718.8M | 700.6M | 682.0M |
| Valuation | |||||||||||||
| P/E Ratio | 14.5 | 11.9 | 11.7 | 29.9 | 10.8 | 14.4 | 29.4 | 15.6 | 14.1 | 16.3 | 21.2 | 24.7 | 20.1 |
| P/FCF | 8.7 | 6.6 | 8.9 | 6.4 | 9.7 | 8.0 | 21.9 | 9.5 | 5.5 | 8.0 | 17.6 | 16.6 | 15.5 |
| EV/EBIT | 47.4 | 43.1 | 51.1 | 72.3 | 79.2 | 95.1 | 116.4 | 12.0 | 9.3 | 8.0 | 2.9 | 3.2 | N/A |
| Price/Book | 4.1 | 3.0 | 3.0 | 4.4 | 3.3 | 4.2 | 3.9 | 5.6 | 4.2 | 4.8 | 7.1 | 8.0 | 6.5 |
| Price/Sales | 2.4 | 2.1 | 1.5 | 1.8 | 2.0 | 2.0 | 2.2 | 2.8 | 2.2 | 1.9 | 2.6 | 3.0 | 3.0 |
| FCF Yield | 11.5% | 15.2% | 11.2% | 15.7% | 10.3% | 12.4% | 4.6% | 10.5% | 18.3% | 12.5% | 5.6% | 6.0% | 6.4% |
| Market Cap | 85.1B | 61.6B | 61.8B | 79.6B | 74.2B | 96.4B | 90.0B | 124.1B | 104.8B | 135.9B | 214.9B | 267.8B | 222.4B |
| Avg. Price | 76.16 | 67.23 | 55.78 | 75.19 | 91.21 | 106.40 | 97.16 | 147.69 | 154.16 | 157.71 | 239.57 | 311.02 | 326.17 |
| Year-End Price | 80.37 | 60.29 | 65.52 | 89.25 | 85.76 | 115.37 | 111.02 | 156.02 | 138.43 | 183.19 | 297.18 | 380.21 | 326.17 |
AMERICAN EXPRESS CO passes 5 of 9 quality checks, suggesting mixed fundamentals.
AMERICAN EXPRESS CO trades at 21.2x trailing earnings, compared to its 15-year median P/E of 16.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 14.0x vs a median of 9.2x. The company's 5-year average ROIC is 12.3%. Total shareholder yield (dividends + buybacks) is 4.0%. At current prices, the estimated annualized return to fair value is +18.3%.
AMERICAN EXPRESS CO (AXP) has a net profit margin of 26.1%. This is a strong margin indicating high profitability.
AMERICAN EXPRESS CO (AXP) generated $16.0 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
AMERICAN EXPRESS CO (AXP) has a debt-to-equity ratio of 1.73. This indicates higher leverage, which may increase financial risk.
AMERICAN EXPRESS CO (AXP) reported earnings per share (EPS) of $15.38 in its most recent fiscal year.
AMERICAN EXPRESS CO (AXP) has a return on equity (ROE) of 33.8%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 19 years of financial data for AMERICAN EXPRESS CO (AXP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
AMERICAN EXPRESS CO (AXP) has a book value per share of $47.78, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects to continue delivering strong growth momentum driven by premium customer strength and ongoing investments in product value propositions and technology. The company is increasing marketing investments in the mid-single digits for 2026 to support long-term growth, while maintaining confidence in stable credit metrics and expecting card fee growth to accelerate as Platinum card refresh impacts flow through the year. Operating expenses are expected to grow in the mid-single digits, with the variable cost of earnings ratio anticipated to be around 44% for 2026, reflecting continued investment in premium products and mix shift toward higher-value offerings. Management expects net interest income growth to continue outpacing loan and receivables growth, and plans to return excess capital to shareholders while supporting growth investments, with no material change expected to capital management approach in the near term.
Based on recent SEC filings and earnings calls, AMERICAN EXPRESS CO (AXP) has provided the following forward guidance: Revenue growth: 9%-10% (FY2026); Earnings per share: $17.30-$17.90 (FY2026).
No recent press releases.