Saturday 17 October 2026 Export AXP’s income statement to Excel — free account

American Express Company

American Express Company’s revenue for fiscal 2025 (year ended December 2025) was $80.5 billion, up 8.44% from fiscal 2024. In the quarter to June 2026, revenue grew 8.34%, EPS grew 11.3%, free cash flow grew 19.4% and total debt fell 2.04%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for ten consecutive years, revenue growth for five.

313.59 0.28 −0.09%

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Market cap: $212.0B
P/E: 19.0×
Fwd P/E: 17.6×
Dividend yield: 1.17%
F-score: 7/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 42.30

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	1	—	6	2	—	—	1	—	1	—	—

Insider Ownership 0.52%

Capital & Financial Ratios $m

Market Cap 211,960.00

Revenue 84,072.00

Net Income 11,446.00

Free Cash Flow 15,052.00

Net Debt 11,774.00

Current Ratio 1.55

Debt/Equity 1.66

P/E ratio 19.01

Fwd P/E 17.60

P/S ratio 2.53

P/B ratio 6.20

Past 5Y EPS Growth 32.47%

This Y EPS Growth 14.97%

Next Y EPS Growth 13.69%

Next Y revenue growth (1.24%)

Next 5Y EPS Growth 14.42%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 59.23%

10-year low 10-year high

P/S against its own 10 years 69.04%

10-year low 10-year high

P/B against its own 10 years 80.98%

10-year low 10-year high

Dividends

Payout Ratio 0.22

Annual Dividend Rate 3.67

Annual Dividend Yield 1.17%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	3.67	0.82 0.95 0.95 0.95
2025	3.16	0.70 0.82 0.82 0.82
2024	2.70	0.60 0.70 0.70 0.70
2023	2.32	0.52 0.60 0.60 0.60
2022	1.99	0.43 0.52 0.52 0.52
2021	1.72	0.43 0.43 0.43 0.43
2020	1.72	0.43 0.43 0.43 0.43
2019	1.60	0.39 0.39 0.39 0.43
2018	1.44	0.35 0.35 0.35 0.39
2017	1.31	0.32 0.32 0.32 0.35
2016	1.19	0.29 0.29 0.29 0.32

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	46,596	40,640	47,792	45,243
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	234,670	243,671	268,628	270,298

	2023	2024	2025	Q'26
Payables	142,253	153,297	167,188	172,414
ST’ Debt	—	—	—	—
Other	—	—	—	—
	143,546	154,671	168,559	174,446

Compound Annual Growth %

	10y	5y	3y
Sales	8.86%	16.08%	13.09%
Cash Flow	5.58%	26.94%	(4.38%)
Earnings	7.77%	28.65%	13.08%
Book Value	4.94%	7.81%	10.65%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	20,880	21,595	—	—	—
’25	18,933	19,933	20,557	21,040	80,463
’24	17,807	18,397	18,779	19,218	74,201
’23	15,714	16,724	17,179	17,747	67,364
’22	12,056	13,834	14,352	15,383	55,625
’21	9,426	10,565	11,235	12,437	43,663
’20	11,026	8,217	9,201	9,741	38,185

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	3,804	5,371	—	—	—
’25	4,764	4,364	6,233	3,067	18,428
’24	5,552	4,532	(1,812)	5,778	14,050
’23	(377)	3,923	8,244	6,769	18,559
’22	3,880	4,259	4,508	8,432	21,079
’21	2,280	3,185	4,172	5,008	14,645
’20	(2,219)	2,130	2,180	3,500	5,591

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	2,655	4,473	—	—	—
’25	4,334	3,745	5,579	2,345	16,003
’24	5,156	3,967	(2,267)	5,283	12,139
’23	(737)	3,547	7,843	6,343	16,996
’22	3,433	3,807	4,065	7,919	19,224
’21	1,961	2,895	3,702	4,537	13,095
’20	(2,554)	1,776	1,827	3,064	4,113

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	4.28	4.53	—	—	—
’25	3.64	4.08	4.14	3.53	15.38
’24	3.33	4.15	3.49	3.04	14.01
’23	2.40	2.89	3.30	2.62	11.21
’22	2.73	2.57	2.47	2.07	9.85
’21	2.74	2.80	2.27	2.18	10.02
’20	0.41	0.29	1.30	1.76	3.77

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	50.27	74.74	87.54	93.23	67.00	112.10	130.65	140.91	177.81	220.43	Analyst estimates 2026–2028 Powerpack
	High	75.74	100.53	114.55	129.34	138.13	189.03	199.55	188.30	307.82	387.49
People
People	Employees	56,400	55,000	59,000	64,000	64,000	64,000	77,300	74,600	75,100	76,800
	Revenue/emp, $m	0.66	0.71	0.73	0.73	0.60	0.68	0.72	0.90	0.99	1.05
Income, $m
Income, $m	Revenue	37,143	38,990	43,281	47,020	38,185	43,663	55,625	67,364	74,201	80,463
	Gross margin, %	95.41	94.58	93.20	92.63	94.51	97.06	95.03	89.83	88.88	89.77
	EBT	8,042	7,425	8,122	8,429	4,296	10,689	9,585	10,513	12,895	13,795
	EBT margin, %	21.65	19.04	18.77	17.93	11.25	24.48	17.23	15.61	17.38	17.14
	Net income	5,375	2,748	6,921	6,759	3,135	8,060	7,514	8,374	10,129	10,833
	Depreciation	1,095	1,321	1,293	1,188	1,543	1,695	1,626	1,651	1,676	1,777
Per share, $
Per share, $	Revenue	39.81	44.16	50.56	56.79	47.43	55.34	74.07	91.65	104.21	115.77
	Earnings	5.67	2.98	7.93	8.00	3.77	10.04	9.86	11.23	14.04	15.41
	Cash flow	8.89	15.33	10.43	16.46	6.95	18.56	28.07	25.25	19.73	26.52
	Capex	(1.47)	(1.20)	(1.53)	(1.99)	(1.84)	(1.96)	(2.47)	(2.13)	(2.68)	(3.49)
	Free cash flow	7.41	14.13	8.90	14.48	5.11	16.60	25.60	23.12	17.05	23.03
	Book value	21.97	20.68	26.04	27.86	28.55	28.11	32.90	38.17	42.51	48.16
	Shares, m	933	883	856	828	805	789	751	735	712	695
Valuation, ×
Valuation, ×	P/E	13.34	34.00	12.02	15.54	32.07	16.34	14.94	16.77	21.14	24.04
	P/S	1.89	2.24	1.89	2.19	2.55	2.96	1.99	2.05	2.85	3.20
	P/B	3.43	4.78	3.66	4.47	4.23	5.82	4.47	4.93	6.98	7.68
	EV/Sales	2.48	2.83	2.60	2.90	2.81	3.34	2.14	2.07	2.97	3.30
	EV/FCF	13.31	8.83	14.77	11.38	26.09	11.13	6.20	8.22	18.16	16.60
Cash, $m
Cash, $m	Operating cash flow	8,291	13,540	8,930	13,632	5,591	14,645	21,079	18,559	14,050	18,428
	Capex	(1,375)	(1,062)	(1,310)	(1,645)	(1,478)	(1,550)	(1,855)	(1,563)	(1,911)	(2,425)
	Free cash flow	6,916	12,478	7,620	11,987	4,113	13,095	19,224	16,996	12,139	16,003
Balance, $m
Balance, $m	Working capital	68,117	79,020	80,846	78,397	48,845	66,526	77,152	91,124	89,000	100,069
	Total debt	46,990	55,804	58,423	57,835	42,952	38,675	42,573	47,866	49,715	56,387
	Net debt	21,782	22,877	30,978	33,389	9,987	16,647	8,659	1,270	9,075	8,595
	Shareholders’ equity	20,501	18,261	22,290	23,071	22,984	22,177	24,711	28,057	30,264	33,474
Returns, %
Returns, %	ROA	3.28	1.56	3.67	3.43	1.56	4.17	3.55	3.37	3.75	3.74
	ROIC	11.89	11.28	9.53	9.33	8.14	17.21	17.95	22.40	20.49	20.49
	ROE	25.51	13.65	33.47	29.24	13.18	35.06	31.56	31.28	34.28	33.58

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
V Visa Inc.	$746.4B	33.0×	25.4×	+14.36% (above 0%: growing)	+10.41% (above 0%: growing)	−2.73% (below 0%: shrinking)	100.00%	59.12%	Compare
MA Mastercard Incorporated	$539.9B	33.9×	25.4×	+14.07% (above 0%: growing)	+22.06% (above 0%: growing)	−25.01% (below 0%: shrinking)	100.00%	60.22%	Compare
AXP American Express Company	$212.0B	19.0×	17.6×	+8.34% (above 0%: growing)	+11.27% (above 0%: growing)	+19.44% (above 0%: growing)	90.93%	0.00%
COF Capital One Financial Corporation	$122.0B	12.5×	11.6×	+21.66% (above 0%: growing)	n/m	+42.53% (above 0%: growing)	79.80%	0.00%	Compare
PYPL PayPal Holdings, Inc.	$48.9B	10.6×	8.1×	+4.75% (above 0%: growing)	−3.08% (below 0%: shrinking)	+157.72% (above 0%: growing)	39.60%	16.44%	Compare
AFRM Affirm Holdings, Inc.	$25.6B	13.0×	35.7×	+33.04% (above 0%: growing)	+2,171.43% (above 0%: growing)	+875.00% (above 0%: growing)	58.84%	12.63%	Compare
SYF Synchrony Financial	$24.1B	7.5×	7.6×	+0.28% (above 0%: growing)	+3.98% (above 0%: growing)	−5.47% (below 0%: shrinking)	82.95%	0.00%	Compare
SOFI SoFi Technologies, Inc.	$19.5B	28.5×	26.8×	+39.09% (above 0%: growing)	+33.33% (above 0%: growing)	−160.17% (below 0%: shrinking)	77.57%	0.00%	Compare
ALLY Ally Financial Inc.	$11.5B	8.8×	8.4×	+4.52% (above 0%: growing)	+13.33% (above 0%: growing)	+42.87% (above 0%: growing)	62.82%	0.00%	Compare
Median of peers	$37.3B	12.7×	18.5×	+14.22%	+13.33%	+19.90%	78.69%	6.32%

All 55 Credit Services stocks →

American Express Company (AXP) key facts

Strength: American Express Company’s revenue for fiscal 2025 (year ended December 2025) was $80.5 billion, up 8.44% from fiscal 2024.
Strength: Net income was $10.8 billion, or $15.41 per share (basic), a net margin of 13.3%.
American Express Company (AXP) is a Credit Services company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, AXP traded at $313.59, a market capitalization of $212.0 billion.
At that price the stock trades at 19.0× trailing-twelve-month earnings and 2.5× sales; its P/E is higher than 59% of its own readings over the past ten years.
American Express Company pays an annual dividend of $3.67 per share, a yield of 1.17%, with a payout ratio of 22.3%.
Return on equity was 33.6% and debt-to-equity 1.66.
Its Piotroski F-score is 7 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Financial Analysis (summary)

Updated 29 September 2026

American Express reported revenue of $80.5 billion, net income of $10.8 billion and diluted EPS of $15.38 in FY2025. In Q2 FY2026, revenue was $21.6 billion, operating income was $4.1 billion and net income was $3.1 billion. Trailing-twelve-month revenue to Q2 FY2026 was $84.1 billion.

The Q2 FY2026 balance-sheet measures included a current ratio of 1.5×, debt to equity of 1.7× and net debt of $11.8 billion. Free cash flow was $4.5 billion in Q2 FY2026, while the company returned $8.0 billion to shareholders in FY2025.

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