AXP (American Express Company) Stock Financials & Earnings

Company Info & Key Metrics

Financial Services Financial - Credit Services

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global C...

CEOStephen Joseph Squeri

Country🇺🇸 United States

ExchangeNYSE

IPOJun 1, 1972

www.americanexpress.com

Revenue$21.0B

YoY Growth+9.5%

QoQ Growth+2.3%

Net Income$2.5B

EPS$3.53

Free Cash Flow$2.3B

Gross Margin83.5%

Op. Margin14.7%

Net Margin11.7%

FCF Margin11.2%

Rev Multiple (TTM)2.6x

P/E Ratio (TTM)19.4x

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$15.7B	$13.2B	$2.2B
Q2 23	$16.7B	$13.9B	$2.7B
Q3 23	$17.2B	$14.1B	$3.1B
Q4 23	$17.7B	$14.4B	$2.5B
Q1 24	$17.8B	$14.5B	$3.1B
Q2 24	$18.4B	$15.1B	$3.8B
Q3 24	$18.8B	$15.3B	$3.2B
Q4 24	$19.2B	$15.9B	$2.8B
Q1 25	$18.9B	$15.8B	$3.3B
Q2 25	$19.9B	$16.5B	$3.5B
Q3 25	$20.6B	$17.1B	$3.8B
Q4 25	$21.0B	$17.6B	$3.1B

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.6x	29.1x
Q2 23	3.4x	28.3x
Q3 23	3.2x	26.3x
Q4 23	3.1x	25.1x
Q1 24	3.0x	23.4x
Q2 24	3.0x	21.4x
Q3 24	2.9x	21.3x
Q4 24	2.8x	20.8x
Q1 25	2.8x	20.5x
Q2 25	2.7x	20.7x
Q3 25	2.7x	20.0x
Q4 25	2.6x	19.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$377M	-$738M
Q2 23	$3.9B	$3.5B
Q3 23	$8.2B	$7.8B
Q4 23	$6.8B	$6.3B
Q1 24	$5.6B	$5.2B
Q2 24	$4.5B	$4.0B
Q3 24	-$1.8B	-$2.3B
Q4 24	$5.8B	$5.3B
Q1 25	$4.8B	$4.3B
Q2 25	$4.4B	$3.7B
Q3 25	$6.2B	$5.6B
Q4 25	$3.1B	$2.3B

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$361M
Q2 23	$375M
Q3 23	$401M
Q4 23	$426M
Q1 24	$396M
Q2 24	$565M
Q3 24	$457M
Q4 24	$495M
Q1 25	$430M
Q2 25	$619M
Q3 25	$655M
Q4 25	$721M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+30.5%	+45.2%
Q2 23	+21.0%	+24.0%
Q3 23	+20.1%	+18.9%
Q4 23	+17.1%	+14.7%
Q1 24	+13.3%	+8.2%
Q2 24	+10.0%	+4.4%
Q3 24	+9.3%	+10.6%
Q4 24	+8.3%	+8.1%
Q1 25	+6.3%	+6.4%
Q2 25	+8.3%	+12.2%
Q3 25	+9.5%	+7.4%
Q4 25	+9.5%	+9.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$140M	0.9%
Q2 23	$108M	0.6%
Q3 23	$93M	0.5%
Q4 23	$109M	0.6%
Q1 24	$176M	1.0%
Q2 24	$104M	0.6%
Q3 24	$113M	0.6%
Q4 24	$111M	0.6%
Q1 25	$158M	0.8%
Q2 25	$127M	0.6%
Q3 25	$125M	0.6%
Q4 25	$141M	0.7%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$2.0B	$1.3B
Q2 23	$1.9B	$1.4B
Q3 23	$2.0B	$1.2B
Q4 23	$2.1B	$1.2B
Q1 24	$2.1B	$1.5B
Q2 24	$1.9B	$1.5B
Q3 24	$2.0B	$1.5B
Q4 24	$2.1B	$1.6B
Q1 25	$2.1B	$1.5B
Q2 25	$2.2B	$1.6B
Q3 25	$2.2B	$1.6B
Q4 25	$669M	$1.6B

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$40.5B	$3.0B	$43.5B
Q2 23	$42.0B	$4.1B	$46.0B
Q3 23	$43.8B	$2.8B	$46.6B
Q4 23	$46.5B	$2.1B	$48.6B
Q1 24	$54.1B	$1.8B	$56.0B
Q2 24	$52.8B	$814M	$53.6B
Q3 24	$47.8B	$867M	$48.7B
Q4 24	$40.6B	$953M	$41.5B
Q1 25	$52.4B	$0	$52.4B
Q2 25	$57.8B	$988M	$58.8B
Q3 25	$53.4B	$1.1B	$54.6B
Q4 25	$47.7B	$826M	$48.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	744M	-0.3%
Q2 23	741M	-0.4%
Q3 23	733M	-1.1%
Q4 23	726M	-1.0%
Q1 24	722M	-0.6%
Q2 24	717M	-0.7%
Q3 24	709M	-1.1%
Q4 24	704M	-0.7%
Q1 25	702M	-0.3%
Q2 25	699M	-0.4%
Q3 25	693M	-0.9%
Q4 25	688M	-0.7%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$651K	54K
FY 15	$627K	55K
FY 16	$680K	56K
FY 17	$709K	55K
FY 18	$733K	59K
FY 19	$730K	65K
FY 20	$602K	64K
FY 21	$694K	64K
FY 22	$720K	77K
FY 23	$903K	75K
FY 24	$988K	75K
FY 25	$1M	77K