AXP

MKT CAP:$216B

American Express Company

Market Cap

$216B

Financial Services·Financial - Credit Services·🇺🇸 United States·NYSE

Financials·Financial·🇺🇸·NYSE

Stock Price

$314.99-$57.75 (-15.49%)

Apr 24, 2026

Company Details

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 Consumer Services Group, Global Commercia...

CEO

Stephen Joseph Squeri

IPO Date

Jun 1, 1972

Website

www.americanexpress.com

Key Metrics TTM

Revenue

$82.4B

+9.4% YoY

Net Income

$11.2B

EPS (Diluted)

$16.03

Free Cash Flow

$14.3B

Revenue / Share

$120.13

Gross Margin

83.5%

Operating Margin

20.7%

Net Margin

13.6%

FCF Margin

17.4%

P/S

2.6x

P/E

19.2x

Earnings Reports

Q1 2026

Apr 23, 2026

NEW

$20.9B+10.3%EPS $4.28

FY 2025

Feb 6, 2026

$80.5B+8.4%EPS $15.38

Q4 2025

Feb 6, 2026

$21.0B+9.5%EPS $3.53

Q3 2025

Oct 17, 2025

$20.6B+9.5%EPS $4.14

Q2 2025

Jul 18, 2025

$19.9B+8.3%EPS $4.08

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$13.8B	$13.0B	$2.5B
Q3 22	$14.3B	$12.7B	$2.5B
Q4 22	$15.1B	$12.9B	$1.9B
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
Q1 26	$20.9B	$17.7B	$6.6B

Valuation

Quarter	P/S	P/E
Q2 22	2.2x	14.3x
Q3 22	2.0x	13.6x
Q4 22	2.0x	14.9x
Q1 23	2.1x	16.8x
Q2 23	2.1x	17.3x
Q3 23	1.7x	13.5x
Q4 23	2.0x	16.3x
Q1 24	2.3x	18.1x
Q2 24	2.3x	16.8x
Q3 24	2.7x	19.6x
Q4 24	2.9x	21.0x
Q1 25	2.5x	18.4x
Q2 25	2.9x	22.0x
Q3 25	3.0x	22.7x
Q4 25	3.2x	24.0x
Q1 26	2.5x	18.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$4.3B	$3.8B
Q3 22	$4.5B	$4.1B
Q4 22	$8.4B	$7.9B
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
Q1 26	$3.8B	$2.7B

Capital Expenditures

Quarter	CapEx
Q2 22	$452M
Q3 22	$443M
Q4 22	$513M
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
Q1 26	$1.1B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+27.8%	+43.3%
Q3 22	+25.7%	+32.7%
Q4 22	+21.9%	+31.1%
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%
Q1 26	+10.3%	-8.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$76M	0.5%
Q3 22	$84M	0.6%
Q4 22	$93M	0.6%
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%
Q1 26	$203M	1.0%

OpEx Breakdown

Quarter	G&A	S&M
Q2 22	$1.8B	$1.5B
Q3 22	$1.7B	$1.5B
Q4 22	$2.0B	$1.3B
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	$2.5B	$1.6B
Q1 26	$6.6B	$3.0B

Revenue Segments

Quarter	Global Commercial Services	Global Consumer Services Group	Global Merchant and Network Services	International Card Services
Q2 22	$4.0B	$7.8B	$1.6B	—
Q3 22	$3.5B	$6.2B	$1.7B	$2.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$25.4B	$2.1B	$27.4B
Q3 22	$30.0B	$2.6B	$32.6B
Q4 22	$33.5B	$4.9B	$38.4B
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
Q1 26	$53.8B	$290M	$54.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	753M	-0.7%	-6.1%
Q3 22	749M	-0.5%	-4.8%
Q4 22	746M	-0.4%	-3.0%
Q1 23	744M	-0.3%	-1.8%
Q2 23	741M	-0.4%	-1.6%
Q3 23	733M	-1.1%	-2.1%
Q4 23	726M	-1.0%	-2.7%
Q1 24	722M	-0.6%	-3.0%
Q2 24	717M	-0.7%	-3.2%
Q3 24	709M	-1.1%	-3.3%
Q4 24	704M	-0.7%	-3.0%
Q1 25	702M	-0.3%	-2.8%
Q2 25	699M	-0.4%	-2.5%
Q3 25	693M	-0.9%	-2.3%
Q4 25	688M	-0.7%	-2.3%
Q1 26	686M	-0.3%	-2.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$216.0K	64K
Q3 22	$223.5K	64K
Q4 22	$196.0K	77K
Q1 23	$203.3K	77K
Q2 23	$216.4K	77K
Q3 23	$222.2K	77K
Q4 23	$237.8K	75K
Q1 24	$238.7K	75K
Q2 24	$246.6K	75K
Q3 24	$251.7K	75K
Q4 24	$255.9K	75K
Q1 25	$252.1K	75K
Q2 25	$265.4K	75K
Q3 25	$273.7K	75K
Q4 25	$274.0K	77K
Q1 26	$271.9K	77K

Revenue / Employee