American Express Company

AXP Financial Credit Services

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%
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

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% (at or above 15%: strong)
This Y EPS Growth 14.97%
Next Y EPS Growth 13.69%
Next Y revenue growth (1.24%) (below 0%: weak)
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.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

American Express Company vs peers in Credit Services (Q) = latest quarter vs a year earlier

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 →

AXP metrics, ten years each

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

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.

American Express Company (AXP) Latest News

stockrow.com/AXP · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com