American Express Co (AXP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$4.4	$4.53	+3.0%	—	—	—
Q4 26	$3.99	$4.28	+7.3%	—	—	—
Q3 26	$3.55	$3.53	-0.6%	—	—	—
Q2 26	$3.98	$4.14	+4.0%	—	—	—
Q1 26	$3.88	$4.08	+5.2%	—	—	—
Q4 25	$3.47	$3.64	+4.9%	—	—	—
Q3 25	$3.03	$3.04	+0.3%	—	—	—
Q2 25	$3.28	$3.49	+6.4%	—	—	—
Q1 25	$3.26	$4.15	+27.3%	—	—	—
Q4 24	$2.98	$3.33	+11.7%	—	—	—
Q3 24	$2.65	$2.62	-1.1%	—	—	—
Q2 24	$2.95	$3.3	+11.9%	—	—	—
Q1 24	$2.82	$2.89	+2.5%	—	—	—
Q4 23	$2.67	$2.4	-10.1%	—	—	—
Q3 23	$2.24	$2.07	-7.6%	—	—	—
Q2 23	$2.41	$2.47	+2.5%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$15.4	—	—	$72.2B	—
FY24	—	$14	—	—	$65.9B	—
FY23	—	$11.2	—	—	$60.4B	—
FY22	—	$9.86	—	—	$52.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$36.7B	$36.9B	$40.3B	$43.6B	$36.2B	$43.1B	$52.6B	$60.4B	$65.9B	$72.2B
YoY change	+11.9%	+0.61%	+9.32%	+8.23%	-16.9%	+19.1%	+21.8%	+14.8%	+9.25%	+9.52%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	36.7B	36.9B	40.3B	43.6B	36.2B	43.1B	52.6B	60.4B	65.9B	72.2B
Cost of revenue	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	11.5B	11B	11.7B	13B	9.4B	11.5B	12.7B	13.3B	14.2B	15.3B
Operating expenses	11.5B	11B	11.7B	13B	9.4B	11.5B	12.7B	13.3B	14.2B	15.3B
Operating income	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—
Pretax income	8B	7.4B	8.1B	8.4B	4.3B	10.7B	9.6B	10.5B	12.9B	13.8B
Income tax	2.7B	4.7B	1.2B	1.7B	1.2B	2.6B	2.1B	2.1B	2.8B	3B
Net income	5.4B	2.7B	6.9B	6.8B	3.1B	8.1B	7.5B	8.4B	10.1B	10.8B
Net margin	14.7%	7.45%	17.2%	15.5%	8.65%	18.7%	14.3%	13.9%	15.4%	15%
EBITDA	—	—	—	—	—	—	—	—	—	—
EPS	5.67	2.98	7.93	8	3.77	10	9.86	11.2	14	15.4
Diluted EPS	5.65	2.97	7.91	7.99	3.77	10	9.85	11.2	14	15.4

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	15.4B	15.8B	15.8B	16.3B	16.6B	17.2B	17B	17.9B	18.4B	19B	18.9B	19.6B
Cost of revenue	—	—	—	—	—	—	—	—	—	—	—	—
Gross profit	—	—	—	—	—	—	—	—	—	—	—	—
Gross margin	—	—	—	—	—	—	—	—	—	—	—	—
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.3B	3.4B	3.6B	3.4B	3.5B	3.7B	3.6B	3.7B	3.8B	4.1B	4B	4B
Operating expenses	3.3B	3.4B	3.6B	3.4B	3.5B	3.7B	3.6B	3.7B	3.8B	4.1B	4B	4B
Operating income	—	—	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—	—	—
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	3.1B	2.5B	3.1B	3.8B	3.2B	2.8B	3.3B	3.5B	3.8B	3.1B	3.8B	4.1B
Income tax	649M	579M	708M	775M	697M	586M	746M	665M	923M	628M	807M	961M
Net income	2.5B	1.9B	2.4B	3B	2.5B	2.2B	2.6B	2.9B	2.9B	2.5B	3B	3.1B
Net margin	15.9%	12.2%	15.4%	18.5%	15.1%	12.6%	15.2%	16.2%	15.7%	13%	15.7%	15.8%
EBITDA	—	—	—	—	—	—	—	—	—	—	—	—
EPS	3.3	2.63	3.34	4.16	3.5	3.04	3.64	4.08	4.14	3.53	4.29	4.54
Diluted EPS	3.3	2.62	3.33	4.15	3.49	3.04	3.64	4.08	4.14	3.53	4.28	4.53

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	69.1B	87.7B	81.6B	103.1B	97.3B	129.1B	111B	137.7B	211.3B	257.1B	206.9B
Enterprise value	93.5B	110.8B	111.1B	134.8B	87.8B	146B	116.8B	138.5B	220.9B	266.3B	221.9B
Shares outstanding	933M	883M	856M	828M	805M	789M	751M	735M	712M	695M	695M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	12.9	31.9	11.8	15.3	31	16	14.8	16.4	20.9	23.7	18.5
P/S	1.89	2.38	2.02	2.36	2.69	2.99	2.11	2.28	3.2	3.56	2.91
P/B	3.37	4.8	3.66	4.47	4.23	5.82	4.49	4.91	6.98	7.68	6.02
EV/Sales	2.55	3	2.76	3.09	2.42	3.38	2.22	2.3	3.35	3.69	3.13
Earnings yield	7.78%	3.13%	8.48%	6.56%	3.22%	6.24%	6.77%	6.08%	4.79%	4.21%	5.39%
FCF yield	10%	14.2%	9.34%	11.6%	4.23%	10.1%	17.3%	12.3%	5.74%	6.22%	5.17%
PEG	—	—	—	—	—	—	—	—	—	—	1.64

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Operating margin	—	—	—	—	—	—	—	—	—	—	20.3%
Net margin	14.7%	7.45%	17.2%	15.5%	8.65%	18.7%	14.3%	13.9%	15.4%	15%	16.1%
ROE	26.2%	15%	31%	29.3%	13.6%	36.3%	30.4%	29.8%	33.5%	32.4%	34.4%
ROA	—	—	—	—	—	—	—	—	3.73%	3.61%	3.79%
Return on tangible assets	—	—	—	—	—	—	—	—	3.85%	3.73%	3.71%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	—	—	—	—	—	—	—	—	—	1.55
Debt / equity	2.56	3.24	2.76	2.79	1.95	1.85	1.78	1.75	1.69	1.73	1.72
Debt / assets	—	—	—	—	—	—	—	—	0.19	0.19	0.19
Effective tax rate	33.2%	63%	14.8%	19.8%	27%	24.6%	21.6%	20.3%	21.5%	21.5%	22.5%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	39.3	41.8	47.1	52.7	45	54.7	70	82.1	92.6	103.9	103.4
EPS (basic)	5.67	2.98	7.93	8	3.77	10	9.86	11.2	14	15.4	15.4
EPS (diluted)	5.65	2.97	7.91	7.99	3.77	10	9.85	11.2	14	15.4	16.5
Book value per share	22	20.7	26	27.9	28.6	28.1	32.9	38.2	42.5	48.2	50.8
FCF per share	7.41	14.1	8.9	14.5	5.11	16.6	25.6	23.1	17	23	22.2
Cash per share	30.2	40.8	37.4	39.4	67.5	30.5	50.7	65.7	58.3	69.8	67.8
Capex per share	1.47	1.2	1.53	1.99	1.84	1.96	2.47	2.13	2.68	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.75%	2.88%	3.25%	3.77%	4.08%	3.59%	3.53%	2.59%	2.9%	—	—
Capex / operating cash flow	22%	9.66%	23.5%	16.4%	171.7%	9.65%	9.82%	11.5%	21.6%	—	—
Payout ratio	22.5%	45.5%	19.1%	21%	47%	18%	20.8%	21.3%	19.7%	21%	21.5%
Dividend yield	1.75%	1.43%	1.62%	1.38%	1.51%	1.12%	1.41%	1.29%	0.95%	0.88%	1.24%

Yield

1.24%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.95

ex-dividend Jul 2, 2026

Payout ratio

21%

of earnings

Dividend growth

4 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Jul 2, 2026	$0.95
Apr 2, 2026	$0.95
Jan 2, 2026	$0.82

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$15.4B	$15.8B	$15.8B	$16.3B	$16.6B	$17.2B	$17B	$17.9B	$18.4B	$19B	$18.9B	$19.6B
YoY change	+13.9%	+13.3%	+10.6%	+8.5%	+8.16%	+8.78%	+7.38%	+9.32%	+10.8%	+10.5%	+11.4%	+9.97%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	28.2B	36B	32B	32.6B	54.4B	24B	38.1B	48.3B	41.5B	48.5B
Receivables	46.8B	53.5B	55.3B	56.8B	43.4B	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	-5.1B	-5.5B	-6B	-6.6B	-7.5B	-8.6B	-9.8B	-9.9B	6.2B	7.1B
Goodwill & intangibles	7.6B	7.8B	6.7B	7.2B	8.2B	8B	7.9B	7.9B	8.6B	9.9B
Total assets	—	—	—	—	—	—	—	—	271.5B	300.1B
Accounts payable	11.2B	14.7B	12.3B	12.7B	9.4B	10.6B	12.1B	13.1B	13.9B	14.7B
Short-term debt	5.6B	3.3B	3.1B	6.4B	1.9B	2.2B	1.3B	1.3B	1.4B	1.4B
Total current liabilities	—	—	—	—	—	—	—	—	—	—
Long-term debt	47B	55.8B	58.4B	57.8B	43B	38.7B	42.6B	47.9B	49.7B	56.4B
Total liabilities	—	—	—	—	—	—	—	—	241.2B	266.6B
Shareholders' equity	20.5B	18.3B	22.3B	23.1B	23B	22.2B	24.7B	28.1B	30.3B	33.5B
Total debt	52.6B	59.1B	61.5B	64.3B	44.8B	40.9B	43.9B	49.2B	51.1B	57.8B
Net debt	27.5B	26.2B	34.1B	40B	12B	19.4B	10.4B	2.6B	10.5B	10.1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	46.6B	48.3B	56B	53.6B	48.7B	41.5B	52.4B	58.8B	54.6B	48.5B	54.5B	46B
Receivables	—	—	—	—	—	—	—	—	—	—	—	—
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	—	—	—	—	—	—	—	—	—	—	—	—
Property, plant & equipment	-9.6B	-9.9B	-10.2B	-10.5B	-10.9B	6.2B	-11.1B	-11.4B	-11.8B	7.1B	-12.4B	-12.9B
Goodwill & intangibles	—	7.9B	—	—	—	8.6B	—	—	—	9.9B	—	—
Total assets	—	—	—	272.2B	271B	271.5B	282.2B	295.6B	297.6B	300.1B	308.9B	308.2B
Accounts payable	13.2B	13.1B	13.4B	13.1B	13.2B	13.9B	13.6B	14.1B	14.7B	14.7B	14.6B	15.4B
Short-term debt	1.6B	1.3B	1.7B	1.6B	1.5B	1.4B	1.6B	1.5B	1.4B	1.4B	1.7B	2B
Total current liabilities	—	—	—	—	—	—	—	—	—	—	—	—
Long-term debt	46.4B	47.9B	48.8B	51.5B	53.5B	49.7B	51.2B	58.2B	57.8B	56.4B	58.8B	57B
Total liabilities	—	—	—	242.7B	241.3B	241.2B	251B	263.2B	265.1B	266.6B	274.9B	273.9B
Shareholders' equity	27.3B	28.1B	28.8B	29.5B	29.7B	30.3B	31.2B	32.3B	32.4B	33.5B	34B	34.3B
Total debt	48.1B	49.2B	50.6B	53.2B	55B	51.1B	52.8B	59.7B	59.2B	57.8B	60.4B	59B
Net debt	4.2B	2.6B	-3.6B	346M	7.2B	10.5B	389M	1.9B	5.8B	10.1B	6.8B	13.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	5.4B	2.7B	6.9B	6.8B	3.1B	8.1B	7.5B	8.4B	10.1B	10.8B
Depreciation & amortization	1.1B	1.3B	1.3B	1.2B	1.5B	1.7B	1.6B	1.7B	1.7B	1.8B
Stock-based compensation	254M	282M	283M	283M	249M	330M	375M	450M	504M	551M
Change in working capital	606M	5.9B	-3.4B	1.4B	-3.8B	6.5B	10.2B	3.8B	-1.9B	864M
Operating cash flow	6.3B	11B	5.6B	10.1B	861M	16.1B	18.9B	13.6B	8.9B	18.4B
Capital expenditure	-1.4B	-1.1B	-1.3B	-1.6B	-1.5B	-1.6B	-1.9B	-1.6B	-1.9B	—
Investing cash flow	-1.4B	-1.4B	-3.8B	-5.7B	-15.3B	17B	-4.1B	691M	-1.1B	-893M
Dividends paid	-1.2B	-1.3B	-1.3B	-1.4B	-1.5B	-1.4B	-1.6B	-1.8B	-2B	-2.3B
Share repurchases	-4.5B	-4.4B	-1.7B	-4.7B	-1B	-9.3B	-3.5B	-3.6B	-6B	-5.8B
Financing cash flow	-5.7B	860M	-441M	-3.8B	-22.6B	-12.5B	-1.4B	-536M	-5.9B	-1.8B
Net change in cash	-752M	10.4B	1.4B	550M	-37B	20.6B	13.4B	13.8B	1.9B	15.7B
Free cash flow	6.9B	12.5B	7.6B	12B	4.1B	13.1B	19.2B	17B	12.1B	16B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	2.5B	1.9B	2.4B	3B	2.5B	2.2B	2.6B	2.9B	2.9B	2.5B	3B	3.1B
Depreciation & amortization	429M	422M	390M	421M	437M	428M	433M	427M	455M	462M	468M	488M
Stock-based compensation	93M	109M	176M	104M	113M	111M	158M	127M	125M	141M	203M	155M
Change in working capital	4.3B	2.7B	1.6B	569M	-6.1B	2.1B	246M	37M	1.7B	-1.1B	-910M	1.3B
Operating cash flow	7B	5.3B	4.3B	3.3B	-3.2B	4.5B	3.6B	3B	6.2B	3.1B	3.8B	5.4B
Capital expenditure	-401M	-426M	-396M	-565M	-455M	-495M	-430M	-619M	—	—	—	—
Investing cash flow	-480M	1.5B	-519M	945M	-638M	-931M	-384M	-1.5B	-215M	136M	-2.2B	-1.6B
Dividends paid	-459M	-454M	-452M	-521M	-516M	-510M	-509M	-593M	-586M	-583M	-583M	-665M
Share repurchases	-1.4B	-901M	-1.3B	-1.8B	-1.9B	-1B	-1.2B	-1.4B	-2.4B	-899M	-1.9B	-2.3B
Financing cash flow	-2B	-631M	-102M	328M	-1.3B	-4.8B	-330M	4.7B	-3.5B	-2.8B	-399M	-3.9B
Net change in cash	4.5B	6.2B	3.7B	4.5B	-5.1B	-1.2B	2.9B	6.2B	2.6B	443M	1.2B	-144M
Free cash flow	7.8B	6.3B	5.2B	4B	-2.3B	5.3B	4.3B	3.7B	5.6B	2.3B	2.7B	4.5B

Date	Ratio
Oct 3, 2005	10000:8753
May 11, 2000	3:1
May 31, 1994	10000:8825
May 11, 1987	2:1
Aug 11, 1983	3:2
Feb 11, 1983	4:3

American Express Co Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history