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American Express (AXP) Financials

American Express logo
$311.98 +0.20 (+0.06%)
Closing price 05/22/2026 03:59 PM Eastern
Extended Trading
$311.38 -0.60 (-0.19%)
As of 05/22/2026 07:58 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for American Express

Annual Income Statements for American Express

This table shows American Express' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 5,163 5,375 2,748 6,921 6,759 3,135 8,060 7,514 8,374 10,129 10,833
Consolidated Net Income / (Loss)		 5,163 5,375 2,748 6,921 6,759 3,135 8,060 7,514 8,374 10,129 10,833
Net Income / (Loss) Continuing Operations		 5,163 5,375 2,748 6,921 6,759 3,135 8,060 7,514 8,374 10,129 10,833
Total Pre-Tax Income 		7,938 8,042 7,425 8,122 8,429 4,296 10,689 9,585 10,513 12,895 13,795
Total Revenue		 32,818 35,438 36,878 40,338 43,556 36,087 42,380 52,862 60,515 65,949 72,229
Net Interest Income / (Expense)		 5,922 5,779 6,451 7,663 8,620 7,985 7,750 9,895 13,134 15,543 17,364
Total Interest Income		 7,545 7,484 8,563 10,606 12,084 10,083 9,033 12,658 19,983 23,795 25,598
Loans and Leases Interest Income		 7,309 7,214 8,148 9,941 11,308 9,779 8,850 11,967 17,697 21,095 23,234
Investment Securities Interest Income		 157 131 89 118 188 127 83 96 128 86 63
Deposits and Money Market Investments Interest Income		 79 139 326 547 588 177 100 595 2,158 2,614 2,301
Total Interest Expense		 1,623 1,705 2,112 2,943 3,464 2,098 1,283 2,763 6,849 8,252 8,234
Deposits Interest Expense		 475 598 779 1,287 1,559 943 458 1,527 4,865 5,695 5,425
Long-Term Debt Interest Expense		 1,148 1,107 1,333 1,656 1,905 1,155 825 1,236 1,984 2,557 2,809
Total Non-Interest Income		 26,896 29,659 30,427 32,675 34,936 28,102 34,630 42,967 47,381 50,406 54,865
Provision for Credit Losses		 1,988 2,027 2,760 3,352 3,573 4,730 -1,419 2,182 4,923 5,185 5,256
Total Non-Interest Expense		 22,892 25,369 26,693 28,864 31,554 27,061 33,110 41,095 45,079 47,869 53,178
Salaries and Employee Benefits		 4,976 5,259 5,258 5,250 5,911 5,718 6,240 7,252 8,067 8,198 9,016
Marketing Expense		 3,109 6,249 5,722 6,477 7,125 6,747 9,053 10,401 10,870 11,926 12,709
Other Operating Expenses		 14,807 13,861 15,713 17,137 18,518 14,596 17,817 23,442 26,142 27,745 31,453
Income Tax Expense		 2,775 2,667 4,677 1,201 1,670 1,161 2,629 2,071 2,139 2,766 2,962
Weighted Average Basic Shares Outstanding		 999M 933M 883M 856M 828M 805M 789M 751M 735M 712M 695M
Diluted Earnings per Share		 $5.05 $5.61 $2.99 $7.91 $7.99 $3.77 $10.02 $9.85 $11.21 $14.01 $15.38
Weighted Average Diluted Shares Outstanding		 1.00B 935M 886M 859M 830M 806M 790M 752M 736M 713M 696M
Weighted Average Basic & Diluted Shares Outstanding		 964.05M 901.27M 860.28M 843.37M 808.04M 805.59M 759.35M 744.19M 723.87M 702.53M 686.61M
Cash Dividends to Common per Share		 $1.13 $1.22 $1.34 $1.48 $1.64 $1.72 $1.72 $2.08 $2.40 $2.80 $3.28

Quarterly Income Statements for American Express

This table shows American Express' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 2,462 2,971
Consolidated Net Income / (Loss)		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 2,462 2,971
Net Income / (Loss) Continuing Operations		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 2,462 2,971
Total Pre-Tax Income 		3,100 2,512 3,145 3,790 3,204 2,756 3,330 3,550 3,825 3,090 3,778
Total Revenue		 15,381 15,799 15,801 16,333 16,636 17,179 16,967 17,856 18,426 18,980 18,907
Net Interest Income / (Expense)		 3,442 3,604 3,769 3,730 4,006 4,038 4,169 4,187 4,486 4,522 4,692
Total Interest Income		 5,240 5,552 5,775 5,794 6,149 6,077 6,135 6,264 6,617 6,582 6,665
Loans and Leases Interest Income		 4,635 4,910 5,058 5,092 5,442 5,503 5,552 5,648 5,970 6,064 6,136
Investment Securities Interest Income		 33 31 25 25 18 18 14 17 15 17 17
Deposits and Money Market Investments Interest Income		 572 611 692 677 689 556 569 599 632 501 512
Total Interest Expense		 1,798 1,948 2,006 2,064 2,143 2,039 1,966 2,077 2,131 2,060 1,973
Deposits Interest Expense		 1,290 1,385 1,427 1,425 1,446 1,397 1,337 1,374 1,371 1,343 1,287
Long-Term Debt Interest Expense		 508 563 579 639 697 642 629 703 760 717 686
Total Non-Interest Income		 11,939 12,195 12,032 12,603 12,630 13,141 12,798 13,669 13,940 14,458 14,215
Provision for Credit Losses		 1,233 1,437 1,269 1,268 1,356 1,292 1,150 1,405 1,287 1,414 1,251
Total Non-Interest Expense		 11,048 11,850 11,387 11,275 12,076 13,131 12,487 12,901 13,314 14,476 13,878
Salaries and Employee Benefits		 2,047 2,131 2,098 1,949 2,049 2,102 2,120 2,152 2,239 2,505 2,482
Marketing Expense		 2,629 2,711 2,868 2,907 2,900 3,251 3,015 3,144 3,210 3,340 3,071
Other Operating Expenses		 6,372 7,008 6,421 6,419 7,127 7,778 7,352 7,605 7,865 8,631 8,325
Income Tax Expense		 649 579 708 775 697 586 746 665 923 628 807
Basic Earnings per Share		 - - - - - - $3.64 - - - $4.29
Weighted Average Basic Shares Outstanding		 732M 735M 721M 716M 708M 712M 701M 698M 692M 695M 685M
Diluted Earnings per Share		 $3.30 $2.62 $3.33 $4.15 $3.49 $3.04 $3.64 $4.08 $4.14 $3.52 $4.28
Weighted Average Diluted Shares Outstanding		 733M 736M 722M 717M 709M 713M 702M 699M 693M 696M 686M
Weighted Average Basic & Diluted Shares Outstanding		 728.75M 723.87M 719.30M 710.91M 704.44M 702.53M 700.59M 695.88M 688.85M 686.61M 682.33M
Cash Dividends to Common per Share		 $0.60 - $0.70 $0.70 - - $0.82 $0.82 - - $0.95

Annual Cash Flow Statements for American Express

This table details how cash moves in and out of American Express' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 474 2,255 7,769 -5,455 -3,362 8,519 -10,937 11,886 12,682 -5,956 7,152
Net Cash From Operating Activities		 2,621 8,291 13,540 8,930 13,632 5,591 14,645 21,079 18,559 14,050 18,428
Net Cash From Continuing Operating Activities		 2,621 8,291 13,540 8,930 13,783 5,591 14,645 21,079 18,559 14,050 18,428
Net Income / (Loss) Continuing Operations		 0.00 5,375 2,748 6,921 6,759 3,135 8,060 7,514 8,374 10,129 10,833
Consolidated Net Income / (Loss)		 - 5,375 2,748 6,921 6,759 3,135 8,060 7,514 8,374 10,129 10,833
Provision For Loan Losses		 - 2,027 2,760 3,352 3,573 4,730 -1,419 2,182 4,923 5,185 5,256
Depreciation Expense		 1,043 1,095 1,321 1,293 1,188 1,543 1,695 1,626 1,651 1,676 1,777
Non-Cash Adjustments to Reconcile Net Income		 234 -812 1,064 738 860 932 -442 740 -210 -1,050 -302
Changes in Operating Assets and Liabilities, net		 1,344 606 5,647 -3,374 1,403 -4,749 6,751 9,017 3,821 -1,890 864
Net Cash From Investing Activities		 -8,193 1,723 -18,242 -19,615 -16,707 11,632 -10,529 -33,689 -24,433 -24,402 -22,891
Net Cash From Continuing Investing Activities		 -8,193 1,723 -18,242 -19,615 -16,707 11,632 -10,529 -33,689 -24,433 -24,402 -22,891
Purchase of Property, Leasehold Improvements and Equipment		 -1,341 -1,375 -1,062 -1,310 -1,645 -1,478 -1,550 -1,855 -1,563 -1,911 -2,425
Purchase of Investment Securities		 -1,868 571 -19,676 -21,808 -22,565 5,882 -29,073 -33,752 -26,760 -25,306 -21,966
Divestitures		 - - - - - - - 0.00 0.00 594 0.00
Sale and/or Maturity of Investments		 -4,864 2,527 2,496 3,503 7,503 7,228 20,094 1,918 3,890 2,221 1,500
Net Cash From Financing Activities		 1,417 -7,599 12,245 5,101 -519 -9,068 -14,933 24,509 18,379 4,436 11,210
Net Cash From Continuing Financing Activities		 1,417 -7,599 12,245 5,101 -519 -9,068 -14,933 24,509 18,379 4,436 11,210
Net Change in Deposits		 10,878 -1,935 11,385 5,542 3,330 13,542 -2,468 25,902 18,915 10,305 13,045
Issuance of Debt		 9,923 8,824 32,764 21,524 12,706 -4,558 7,788 22,524 15,674 12,602 24,350
Issuance of Common Equity		 193 177 129 87 86 44 64 56 28 100 57
Repayment of Debt		 -19,246 -8,960 -26,382 -19,043 -10,534 -15,593 -11,201 -18,906 -10,808 -10,552 -18,157
Repurchase of Common Equity		 - -4,498 -4,400 -1,685 -4,685 -1,029 -7,652 -3,502 -3,650 -6,020 -5,814
Payment of Dividends		 -1,172 -1,207 -1,251 -1,324 -1,422 -1,474 -1,448 -1,565 -1,780 -1,999 -2,271
Effect of Exchange Rate Changes		 -276 -160 226 129 232 364 -120 -13 177 -40 405

Quarterly Cash Flow Statements for American Express

This table details how cash moves in and out of American Express' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 950 2,688 7,617 -1,318 -4,977 -7,278 11,868 5,429 -3,231 -6,914 5,965
Net Cash From Operating Activities		 8,244 6,769 5,552 4,532 -1,812 5,778 4,764 4,364 6,233 3,067 3,804
Net Cash From Continuing Operating Activities		 8,244 6,769 5,552 4,532 -1,812 5,778 4,764 4,364 6,233 3,067 3,804
Net Income / (Loss) Continuing Operations		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 2,462 2,971
Consolidated Net Income / (Loss)		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 2,462 2,971
Provision For Loan Losses		 1,233 1,437 1,269 1,268 1,356 1,292 1,150 1,405 1,287 1,414 1,251
Depreciation Expense		 429 422 390 421 437 428 433 427 455 462 468
Non-Cash Adjustments to Reconcile Net Income		 246 380 -17 -431 508 -120 351 -410 -119 -144 24
Changes in Operating Assets and Liabilities, net		 3,885 2,597 1,473 259 -6,620 2,008 246 57 1,708 -1,127 -910
Net Cash From Investing Activities		 -6,929 -8,169 -3,144 -5,491 -3,522 -12,245 451 -6,797 -6,598 -9,947 -2,872
Net Cash From Continuing Investing Activities		 -6,929 -8,169 -3,144 -5,491 -3,522 -12,245 451 -6,797 -6,598 -9,947 -2,872
Purchase of Property, Leasehold Improvements and Equipment		 -401 -426 -396 -565 -455 -495 -430 -619 -654 -722 -1,149
Purchase of Investment Securities		 -6,951 -10,061 -407 -6,207 -4,006 -12,061 -239 -5,646 3,938 -20,019 -2,476
Sale and/or Maturity of Investments		 423 2,318 -2,341 1,281 345 311 1,120 -532 -9,882 10,794 753
Net Cash From Financing Activities		 -314 4,067 5,181 -325 350 -770 6,643 7,678 -2,957 -154 4,976
Net Cash From Continuing Financing Activities		 -314 4,067 5,181 -325 350 -770 6,643 7,678 -2,957 -154 4,976
Net Change in Deposits		 1,701 4,698 5,283 -653 1,675 4,000 6,973 2,970 496 2,606 5,375
Issuance of Debt		 5,257 2,152 2,863 5,495 4,330 -86 4,899 10,997 6,480 1,974 3,612
Issuance of Common Equity		 1.00 5.00 29 17 3.00 51 22 - 26 9.00 7.00
Repayment of Debt		 -5,414 -1,433 -1,250 -2,901 -3,207 -3,194 -3,534 -4,340 -7,022 -3,261 -1,524
Repurchase of Common Equity		 -1,400 -901 -1,292 -1,762 -1,935 -1,031 -1,208 -1,356 -2,351 -899 -1,911
Payment of Dividends		 -459 -454 -452 -521 -516 -510 -509 -593 -586 -583 -583
Effect of Exchange Rate Changes		 -51 21 28 -34 7.00 -41 10 184 91 120 57

Annual Balance Sheets for American Express

This table presents American Express' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 161,184 158,893 181,196 188,602 198,321 191,367 188,548 228,354 261,108 271,461 300,052
Cash and Due from Banks		 3,193 4,429 5,148 3,253 3,613 2,984 1,292 5,510 7,118 3,413 3,559
Interest Bearing Deposits at Other Banks		 19,569 20,779 27,709 24,026 20,610 29,824 20,548 28,097 39,312 37,006 43,491
Trading Account Securities		 3,759 3,157 3,159 4,647 8,406 21,631 2,591 4,578 2,186 1,240 1,043
Loans and Leases, Net of Allowance		 1,254 65,461 74,300 0.00 0.00 114,077 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 14,992 - - - - - - - 0.00 758 2,457
Premises and Equipment, Net		 4,108 4,433 4,329 4,416 4,834 5,015 4,988 5,215 5,138 5,371 6,118
Other Assets		 67,614 10,561 9,816 96,940 160,858 17,836 159,129 184,954 207,354 223,673 243,384
Total Liabilities & Shareholders' Equity		 161,184 158,893 181,196 188,602 198,321 191,367 188,548 228,354 261,108 271,461 300,052
Total Liabilities		 140,511 138,392 162,935 166,312 175,250 168,383 166,371 203,643 233,051 241,197 266,578
Non-Interest Bearing Deposits		 54,997 53,042 64,452 69,960 73,287 86,875 84,382 110,239 129,144 139,413 152,488
Short-Term Debt		 4,812 5,581 3,278 3,100 6,442 1,878 12,817 13,481 14,402 15,258 1,371
Long-Term Debt		 48,061 46,990 55,804 58,423 57,835 42,952 38,675 42,573 47,866 49,715 56,387
Other Long-Term Liabilities		 17,572 18,777 22,189 22,574 24,948 27,234 30,497 37,350 41,639 36,811 56,332
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 20,673 20,501 18,261 22,290 23,071 22,984 22,177 24,711 28,057 30,264 33,474
Total Preferred & Common Equity		 20,673 20,501 18,261 22,290 23,071 22,984 22,177 24,711 28,057 30,264 33,474
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 20,673 20,501 18,261 22,290 23,071 22,984 22,177 24,711 28,057 30,264 33,474
Common Stock		 13,542 12,914 12,382 12,388 11,937 12,042 11,648 11,642 11,517 11,511 11,264
Retained Earnings		 9,665 10,371 8,307 12,499 13,871 13,837 13,474 16,279 19,612 22,148 25,487
Accumulated Other Comprehensive Income / (Loss)		 -2,534 -2,784 -2,428 -2,597 -2,737 -2,895 -2,945 -3,210 -3,072 -3,395 -3,277

Quarterly Balance Sheets for American Express

This table presents American Express' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 244,904 250,587 261,108 269,261 272,219 270,979 271,461 282,244 295,556 297,550 308,894
Cash and Due from Banks		 3,379 5,082 7,118 6,264 6,674 3,205 3,413 3,024 3,120 3,234 3,186
Interest Bearing Deposits at Other Banks		 38,869 38,742 39,312 47,880 46,033 44,593 37,006 49,223 54,620 50,201 50,281
Trading Account Securities		 4,087 3,160 2,186 2,232 1,210 1,268 1,240 1,110 1,258 1,374 2,625
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Loans Held for Sale		 - - 0.00 - - - 758 776 2,405 2,424 2,477
Premises and Equipment, Net		 5,177 5,124 5,138 5,138 5,247 5,308 5,371 5,383 5,662 5,861 7,240
Other Assets		 193,392 198,479 207,354 207,747 213,055 216,605 223,673 222,728 228,491 234,456 243,085
Total Liabilities & Shareholders' Equity		 244,904 250,587 261,108 269,261 272,219 270,979 271,461 282,244 295,556 297,550 308,894
Total Liabilities		 218,201 223,263 233,051 240,497 242,679 241,272 241,197 251,042 263,245 265,133 274,899
Non-Interest Bearing Deposits		 122,756 124,439 129,144 134,418 133,746 135,438 139,413 146,396 149,386 149,883 157,948
Short-Term Debt		 13,942 14,809 14,402 15,153 14,784 14,619 15,258 1,559 15,614 16,154 16,327
Long-Term Debt		 46,725 46,447 47,866 48,826 51,521 53,546 49,715 51,236 58,202 57,787 58,750
Other Long-Term Liabilities		 34,778 37,568 41,639 42,100 42,628 37,669 36,811 51,851 40,043 41,309 41,874
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 26,703 27,324 28,057 28,764 29,540 29,707 30,264 31,202 32,311 32,417 33,995
Total Preferred & Common Equity		 26,703 27,324 28,057 28,764 29,540 29,707 30,264 31,202 32,311 32,417 33,995
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 26,703 27,324 28,057 28,764 29,540 29,707 30,264 31,202 32,311 32,417 33,995
Common Stock		 11,657 11,547 11,517 11,498 11,475 11,436 11,511 11,177 11,192 11,197 11,218
Retained Earnings		 18,130 18,953 19,612 20,421 21,265 21,466 22,148 23,391 24,367 24,469 26,088
Accumulated Other Comprehensive Income / (Loss)		 -3,084 -3,176 -3,072 -3,155 -3,200 -3,195 -3,395 -3,366 -3,248 -3,249 -3,311

Annual Metrics And Ratios for American Express

This table displays calculated financial ratios and metrics derived from American Express' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $5.07 $5.67 $2.98 $7.93 $8.00 $3.77 $10.04 $9.86 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 999M 933M 883M 856M 828M 805M 789M 751M 735M 712M 695M
Adjusted Diluted Earnings per Share		 $5.05 $5.65 $2.97 $7.91 $7.99 $3.77 $10.02 $9.85 $11.21 $14.01 $15.38
Adjusted Weighted Average Diluted Shares Outstanding		 1.00B 935M 886M 859M 830M 806M 790M 752M 736M 713M 696M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 964.05M 901.27M 860.28M 843.37M 808.04M 805.59M 759.35M 744.19M 723.87M 702.53M 686.61M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for American Express

This table displays calculated financial ratios and metrics derived from American Express' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 686,614,005.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 686,614,005.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 4.33
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 13.46% 11.45% 10.64% 8.50% 8.16% 8.73% 7.38% 9.32% 10.76% - 11.43%
EBITDA Growth		 22.88% 28.18% 37.71% 34.37% 3.17% 8.52% 6.45% -5.56% 17.55% - 12.84%
EBIT Growth		 26.07% 34.26% 45.13% 38.62% 3.35% 9.71% 5.88% -6.33% 19.38% - 13.45%
NOPAT Growth		 30.44% 22.96% 34.20% 38.68% 2.28% 12.26% 6.03% -4.31% 15.76% - 14.98%
Net Income Growth		 30.44% 22.96% 34.20% 38.68% 2.28% 12.26% 6.03% -4.31% 15.76% - 14.98%
EPS Growth		 33.60% 25.96% 38.75% 43.60% 5.76% 16.03% 9.31% -1.69% 18.62% - 17.58%
Operating Cash Flow Growth		 82.87% -19.72% 1,572.68% 15.52% -121.98% -14.64% -14.19% -3.71% 443.98% - -20.15%
Free Cash Flow Firm Growth		 54.13% -38.07% -61.53% 32.68% 6.54% 64.05% 226.93% -35.48% 17.70% - -295.09%
Invested Capital Growth		 12.31% 11.84% 13.96% 9.70% 10.49% 5.44% -9.43% 10.73% 8.67% - 29.85%
Revenue Q/Q Growth		 2.17% 2.72% 0.01% 3.37% 1.86% 3.26% -1.23% 5.24% 3.19% - -0.38%
EBITDA Q/Q Growth		 12.60% -16.86% 20.48% 19.12% -13.54% -12.55% 18.18% 5.69% 7.62% - 19.54%
EBIT Q/Q Growth		 13.39% -18.97% 25.20% 20.51% -15.46% -13.98% 20.83% 6.61% 7.75% - 22.27%
NOPAT Q/Q Growth		 12.74% -21.13% 26.07% 23.72% -16.85% -13.44% 19.08% 11.65% 0.59% - 20.67%
Net Income Q/Q Growth		 12.74% -21.13% 26.07% 23.72% -16.85% -13.44% 19.08% 11.65% 0.59% - 20.67%
EPS Q/Q Growth		 14.19% -20.61% 27.10% 24.62% -15.90% -12.89% 19.74% 12.09% 1.47% - 21.59%
Operating Cash Flow Q/Q Growth		 110.15% -17.89% -17.98% -18.37% -139.98% 418.87% -17.55% -8.40% 42.83% - 24.03%
Free Cash Flow Firm Q/Q Growth		 10.49% -5.06% -17.03% 38.83% -24.27% 59.59% 513.20% -165.29% 24.51% - -441.80%
Invested Capital Q/Q Growth		 1.38% 1.97% 2.68% 3.34% 2.11% -2.69% -11.80% 26.35% 0.22% - 19.55%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 22.94% 18.57% 22.37% 25.78% 21.89% 18.53% 22.18% 22.27% 23.23% - 22.46%
EBIT Margin		 20.15% 15.90% 19.90% 23.20% 19.26% 16.04% 19.63% 19.88% 20.76% - 19.98%
Profit (Net Income) Margin		 15.94% 12.24% 15.42% 18.46% 15.07% 12.63% 15.23% 16.16% 15.75% - 15.71%
Tax Burden Percent		 79.06% 76.95% 77.49% 79.55% 78.25% 78.74% 77.60% 81.27% 75.87% - 78.64%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 20.94% 23.05% 22.51% 20.45% 21.75% 21.26% 22.40% 18.73% 24.13% - 21.36%
Return on Invested Capital (ROIC)		 11.21% 8.66% 10.99% 12.76% 10.44% 8.98% 11.57% 10.98% 10.86% - 12.07%
ROIC Less NNEP Spread (ROIC-NNEP)		 11.21% 8.66% 10.99% 12.76% 10.44% 8.98% 11.57% 10.98% 10.86% - 12.07%
Return on Net Nonoperating Assets (RNNOA)		 25.40% 19.41% 23.96% 28.80% 23.69% 19.59% 22.52% 24.88% 24.85% - 23.68%
Return on Equity (ROE)		 36.61% 28.06% 34.95% 41.56% 34.12% 28.57% 34.09% 35.86% 35.71% - 35.75%
Cash Return on Invested Capital (CROIC)		 -2.03% -1.39% -2.72% 1.49% 0.64% 5.62% 21.53% -0.13% 2.01% - -14.35%
Operating Return on Assets (OROA)		 5.10% 3.93% 4.89% 5.68% 4.77% 3.97% 4.78% 4.81% 5.14% - 5.01%
Return on Assets (ROA)		 4.03% 3.03% 3.79% 4.52% 3.73% 3.13% 3.71% 3.91% 3.90% - 3.94%
Return on Common Equity (ROCE)		 36.61% 28.06% 34.95% 41.56% 34.12% 28.57% 34.09% 35.86% 35.71% - 35.75%
Return on Equity Simple (ROE_SIMPLE)		 29.33% 0.00% 31.27% 33.30% 33.30% 0.00% 32.93% 31.40% 32.52% - 33.00%
Net Operating Profit after Tax (NOPAT)		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 - 2,971
NOPAT Margin		 15.94% 12.24% 15.42% 18.46% 15.07% 12.63% 15.23% 16.16% 15.75% - 15.71%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 30.40% 30.65% 31.43% 29.73% 29.75% 31.16% 30.26% 29.66% 29.57% - 29.37%
Operating Expenses to Revenue		 71.83% 75.00% 72.07% 69.03% 72.59% 76.44% 73.60% 72.25% 72.26% - 73.40%
Earnings before Interest and Taxes (EBIT)		 3,100 2,512 3,145 3,790 3,204 2,756 3,330 3,550 3,825 - 3,778
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3,529 2,934 3,535 4,211 3,641 3,184 3,763 3,977 4,280 - 4,246
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.96 4.80 5.73 5.62 6.47 6.89 6.04 6.90 7.11 - 6.09
Price to Tangible Book Value (P/TBV)		 3.96 4.80 5.73 5.62 6.47 6.89 6.04 6.90 7.11 - 6.09
Price to Revenue (P/Rev)		 1.84 2.22 2.66 2.62 2.98 3.16 2.81 3.25 3.27 - 2.79
Price to Earnings (P/E)		 13.49 16.07 18.34 16.88 19.44 20.59 18.33 21.97 21.87 - 18.45
Dividend Yield		 1.53% 1.54% 1.06% 1.08% 0.96% 0.91% 1.04% 0.92% 0.92% - 1.09%
Earnings Yield		 7.41% 6.22% 5.45% 5.92% 5.14% 4.86% 5.45% 4.55% 4.57% - 5.42%
Enterprise Value to Invested Capital (EV/IC)		 1.42 1.67 1.88 1.87 2.17 2.45 2.25 2.25 2.36 - 2.10
Enterprise Value to Revenue (EV/Rev)		 2.13 2.49 2.82 2.84 3.29 3.54 2.82 3.48 3.56 - 3.08
Enterprise Value to EBITDA (EV/EBITDA)		 10.90 12.37 13.31 12.64 14.85 16.00 12.77 16.41 16.51 - 14.24
Enterprise Value to EBIT (EV/EBIT)		 12.72 14.31 15.21 14.32 16.81 18.08 14.44 18.61 18.65 - 16.05
Enterprise Value to NOPAT (EV/NOPAT)		 15.67 17.96 19.43 18.27 21.50 23.02 18.39 23.55 23.82 - 20.38
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.21 8.11 7.14 7.16 14.14 16.59 14.25 18.25 11.88 - 13.09
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 132.00 354.44 44.69 9.93 0.00 122.17 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.24 2.22 2.22 2.24 2.29 2.15 1.69 2.28 2.28 - 2.21
Long-Term Debt to Equity		 1.70 1.71 1.70 1.74 1.80 1.64 1.64 1.80 1.78 - 1.73
Financial Leverage		 2.27 2.24 2.18 2.26 2.27 2.18 1.95 2.27 2.29 - 1.96
Leverage Ratio		 9.08 9.28 9.22 9.19 9.15 9.13 9.20 9.18 9.15 - 9.07
Compound Leverage Factor		 9.08 9.28 9.22 9.19 9.15 9.13 9.20 9.18 9.15 - 9.07
Debt to Total Capital		 69.15% 68.94% 68.99% 69.18% 69.65% 68.22% 62.85% 69.55% 69.52% - 68.83%
Short-Term Debt to Total Capital		 16.72% 15.94% 16.34% 15.42% 14.94% 16.02% 1.86% 14.71% 15.19% - 14.97%
Long-Term Debt to Total Capital		 52.44% 52.99% 52.65% 53.75% 54.71% 52.20% 61.00% 54.84% 54.33% - 53.86%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 30.85% 31.06% 31.01% 30.82% 30.35% 31.78% 37.15% 30.45% 30.48% - 31.17%
Debt to EBITDA		 5.32 5.12 4.87 4.67 4.76 4.46 3.57 5.07 4.86 - 4.68
Net Debt to EBITDA		 1.51 1.30 0.75 0.96 1.42 1.69 0.04 1.10 1.35 - 1.35
Long-Term Debt to EBITDA		 4.03 3.94 3.72 3.63 3.74 3.41 3.46 4.00 3.80 - 3.66
Debt to NOPAT		 7.64 7.44 7.11 6.74 6.89 6.41 5.14 7.28 7.01 - 6.69
Net Debt to NOPAT		 2.18 1.89 1.09 1.38 2.06 2.42 0.05 1.58 1.95 - 1.93
Long-Term Debt to NOPAT		 5.80 5.72 5.43 5.24 5.41 4.91 4.99 5.74 5.48 - 5.24
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -7,260 -7,627 -8,926 -5,460 -6,785 -2,742 11,330 -7,397 -5,584 - -22,104
Operating Cash Flow to CapEx		 2,055.86% 1,588.97% 1,402.02% 802.12% -398.24% 1,167.27% 1,107.91% 705.01% 953.06% - 331.07%
Free Cash Flow to Firm to Interest Expense		 -4.04 -3.92 -4.45 -2.65 -3.17 -1.34 5.76 -3.56 -2.62 - -11.20
Operating Cash Flow to Interest Expense		 4.59 3.47 2.77 2.20 -0.85 2.83 2.42 2.10 2.92 - 1.93
Operating Cash Flow Less CapEx to Interest Expense		 4.36 3.26 2.57 1.92 -1.06 2.59 2.20 1.80 2.62 - 1.35
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.25 0.25 0.25 0.24 0.25 0.25 0.24 0.24 0.25 - 0.25
Fixed Asset Turnover		 11.53 11.69 12.00 12.15 12.38 12.55 12.76 12.58 12.61 - 11.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 88,580 90,325 92,743 95,845 97,872 95,237 83,997 106,127 106,358 - 109,072
Invested Capital Turnover		 0.70 0.71 0.71 0.69 0.69 0.71 0.76 0.68 0.69 - 0.77
Increase / (Decrease) in Invested Capital		 9,711 9,560 11,363 8,475 9,292 4,912 -8,746 10,282 8,486 - 25,075
Enterprise Value (EV)		 125,560 150,429 174,759 179,658 212,664 233,136 188,939 238,987 251,066 - 228,643
Market Capitalization		 108,128 134,591 164,924 166,060 192,297 208,582 188,391 222,911 230,560 - 207,033
Book Value per Share		 $37.10 $38.50 $39.89 $41.07 $41.79 $42.96 $44.41 $46.12 $46.58 - $49.51
Tangible Book Value per Share		 $37.10 $38.50 $39.89 $41.07 $41.79 $42.96 $44.41 $46.12 $46.58 - $49.51
Total Capital		 88,580 90,325 92,743 95,845 97,872 95,237 83,997 106,127 106,358 - 109,072
Total Debt		 61,256 62,268 63,979 66,305 68,165 64,973 52,795 73,816 73,941 - 75,077
Total Long-Term Debt		 46,447 47,866 48,826 51,521 53,546 49,715 51,236 58,202 57,787 - 58,750
Net Debt		 17,432 15,838 9,835 13,598 20,367 24,554 548 16,076 20,506 - 21,610
Capital Expenditures (CapEx)		 401 426 396 565 455 495 430 619 654 - 1,149
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Obligations (NNO)		 61,256 62,268 63,979 66,305 68,165 64,973 52,795 73,816 73,941 - 75,077
Total Depreciation and Amortization (D&A)		 429 422 390 421 437 428 433 427 455 - 468
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.29
Adjusted Weighted Average Basic Shares Outstanding		 732M 735M 721M 716M 708M 712M 701M 698M 692M 695M 685M
Adjusted Diluted Earnings per Share		 $3.30 $2.62 $3.33 $4.15 $3.49 $3.04 $3.64 $4.08 $4.14 $3.52 $4.28
Adjusted Weighted Average Diluted Shares Outstanding		 733M 736M 722M 717M 709M 713M 702M 699M 693M 696M 686M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 728.75M 723.87M 719.30M 710.91M 704.44M 702.53M 700.59M 695.88M 688.85M 686.61M 682.33M
Normalized Net Operating Profit after Tax (NOPAT)		 2,451 1,933 2,437 3,015 2,507 2,170 2,584 2,885 2,902 - 2,971
Normalized NOPAT Margin		 15.94% 12.24% 15.42% 18.46% 15.07% 12.63% 15.23% 16.16% 15.75% - 15.71%
Pre Tax Income Margin		 20.15% 15.90% 19.90% 23.20% 19.26% 16.04% 19.63% 19.88% 20.76% - 19.98%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.72 1.29 1.57 1.84 1.50 1.35 1.69 1.71 1.79 - 1.91
NOPAT to Interest Expense		 1.36 0.99 1.21 1.46 1.17 1.06 1.31 1.39 1.36 - 1.51
EBIT Less CapEx to Interest Expense		 1.50 1.07 1.37 1.56 1.28 1.11 1.48 1.41 1.49 - 1.33
NOPAT Less CapEx to Interest Expense		 1.14 0.77 1.02 1.19 0.96 0.82 1.10 1.09 1.05 - 0.92
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 21.60% 21.26% 20.31% 19.17% 19.64% 19.74% 20.01% 20.97% 20.85% - 20.90%
Augmented Payout Ratio		 63.90% 64.84% 71.74% 73.62% 79.19% 79.17% 77.77% 75.48% 77.26% - 78.98%

Financials Breakdown Chart

Key Financial Trends

Here is MarketBeat's quick take on American Express (AXP) using the company’s quarterly statements over the last four years. The focus is on trends in revenue, profitability, cash flow, and balance sheet breadth that may matter to retail investors.

  • Total revenue increased to 18.98 billion in Q4 2025, up about 5.6% year over year from 17.99 billion in Q4 2024, signaling ongoing top-line growth.
  • Consolidated net income rose to 2.46 billion in Q4 2025, up roughly 13% from 2.17 billion in Q4 2024, reflecting improved profitability.
  • Diluted earnings per share (EPS) climbed to 3.52 in Q4 2025 from 3.04 in Q4 2024, indicating meaningful per-share profitability expansion.
  • Net interest income grew to about 4.52 billion in Q4 2025 from 4.04 billion in Q4 2024, supporting the overall revenue and profitability trajectory.
  • The balance sheet expanded with total assets rising to about 297.6 billion in Q4 2025 and total common equity up to roughly 32.4 billion, signaling scale and financial flexibility.
  • Operating cash flow remained robust through 2025, with multiple quarters posting positive net cash from continuing operating activities, underscoring solid cash generation.
  • Interest income and expenses remained a major, steady component of revenue, suggesting stable funding and credit dynamics rather than outsized volatility.
  • Deposits and debt levels rose to support growth, indicating a funded expansion in assets and operations without an abrupt liquidity squeeze.
  • Total non-interest expense rose about 10% year over year in Q4 2025, driven by higher salaries, marketing, and other operating costs, which can pressure margins if revenue growth slows.
  • Provision for credit losses increased modestly year over year, signaling a higher reserve take and potential credit risk in the period.
05/25/26 10:04 AM ETAI Generated. May Contain Errors.

American Express Financials - Frequently Asked Questions

According to the most recent income statement we have on file, American Express' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

American Express' net income appears to be on an upward trend, with a most recent value of $10.83 billion in 2025, rising from $5.16 billion in 2015. The previous period was $10.13 billion in 2024. See where experts think American Express is headed by visiting American Express' forecast page.

Over the last 10 years, American Express' total revenue changed from $32.82 billion in 2015 to $72.23 billion in 2025, a change of 120.1%.

American Express' total liabilities were at $266.58 billion at the end of 2025, a 10.5% increase from 2024, and a 89.7% increase since 2015.

In the past 10 years, American Express' cash and equivalents has ranged from $1.29 billion in 2021 to $7.12 billion in 2023, and is currently $3.56 billion as of their latest financial filing in 2025.


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Financial statements for NYSE:AXP last updated on 4/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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