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American Express (AXP) stock

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NYSE: AXP NYSE Consumer Finance Next results ~January 29, 2027

B Fundamentals grade

American Express is a global payments company and premium lifestyle brand, founded in 1850 and headquartered in New York. Through its card-issuing, merchant-acquiring and card network businesses, it offers credit and charge cards alongside travel, dining, lifestyle and expense management services. It also provides banking and financing products such as deposits, savings and checking accounts and non-card lending, plus merchant processing, settlement, fraud prevention and point-of-sale marketing. Rewards schemes include Membership Rewards and Amex Offers, and it runs the Resy and Tock dining platforms.

Customers range from consumers and small businesses to mid-sized companies and large corporations. The company earns money chiefly from spending on its cards, and secondarily from finance charges, fees and annual card fees, as well as the discount rate charged to merchants.

It operates four reportable segments: U.S. Consumer Services, Commercial Services, International Card Services and Global Merchant and Network Services. Network partners issue cards in roughly 110 countries and territories. It had 86.6 million proprietary cards-in-force and employed approximately 76,800 people.

Based on American Express's 10-K filed February 6, 2026.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter American Express files

10-Q filed October 23: American Express

Rating: Sell to Hold

Revenue for the twelve months to September 2026 reached $43.9bn, a rise of 8.9% on the prior year. That pace is broadly in line with a quarter earlier. Over the same period the diluted share count fell 2.5%, which lifts the value attached to each remaining share. On the back of these figures, our model value moves up from $244 to $273 a share. The shares currently trade at $313, so they still sit above our estimate. We are moving the rating from Sell to Hold.

Our model value for American Express is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 23, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where American Express stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $43.1bn, up 8.8% on a year earlier, faster than 7.9% a quarter earlier. The diluted share count is down 2.3% on a year earlier, which lifts each remaining share.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 29, 2027 (estimated)

American Express's trailing-twelve-month revenue grew 10.2% year on year, with a free-cash-flow margin of 17.9%.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 26.6% while net income grew 16.3%: a 43pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 11.7 points on a year ago.
  • Shrinking share count. Diluted shares fell 2.5% in a year, so each share owns more of the business.

Things to watch

  • Insiders selling. 9 insiders sold $42M of stock over the past 365 days and none bought (0% under pre-set trading plans).

Latest results: FY2026 Q3

Filed October 23, 2026
Earnings per share
$5.42 against an average estimate of $4.50: beat by 20.4%
Revenue
$20.06bn, up 8.9% on a year earlier
Share reaction
-3.1% in the first session after the results on October 23, 2026, against +0.2% for the S&P 500
Next report
October 23, 2026; average EPS estimate $4.29

American Express' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.8%
  • 1 week+4.1%
  • 1 month+8.7%
  • This year-10.3%
  • 1 year-8.1%
  • 5 years+102.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$77.6B
Net margin
15.8%
EPS (TTM, diluted)
$17.96

Growth

Revenue growth
+10.2%
Change in growth rate
−0.5 pts
Share count change
−2.5%

Earnings

Last results
October 23, 2026
Next results (est.)
January 29, 2027

News & updates

Updated November 1, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Dividend
  3. Our research
  4. Results
  5. Our research
  6. Announcement

    Amex reports Q3 US card delinquency and write-off data

    American Express said it furnished preliminary delinquency and write-off statistics for its US Consumer and Small Business portfolios for the three months ended September 30, 2026. The company reported a net write-off rate of 1.6% for Consumer balances and 2.3% for Small Business balances. Total card balances held for investment stood at $160.9 billion.

    SEC 8-KRead source ↗
  7. Announcement
  8. Dividend
  9. Announcement
  10. Insider trade
  11. Announcement
  12. Announcement
  13. Announcement
  14. Results
  15. Dividend
  16. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

American Express valuation models and calculator

No model value for American Express at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value American Express as a bank or lender, with every model that fits that kind of business. Cost of equity 9.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.94 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$370 ~$270–$520 Primary model, counts double
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$260 ~$220–$310 Included
Price-to-book vs return on equity (peers) The price-to-book that peers with this return on equity trade on, from a line fitted across peers. ~$120 ~$93–$150 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$43 ~$56–$83 Left out: out of range vs price (0.13x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$200 ~$190–$230 Included
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$280 ~$230–$350 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare American Express with banks and lenders in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

64 /100

Moderate moat

How hard American Express's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Net income has been a median 3.6% of total assets over 10 years.

  • Durability 13 / 20

    Net margin has been a median 15.0%; its worst year was 8.9%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 27.4% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 14.7% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (70 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $18.29 +19% $79.4bn +10%
Next $20.17 +10% $86.6bn +9%

Next year's EPS estimate has moved +0.3% in 90 days, across 25 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.6% on 90 days ago. In the last 30 days, 7 analysts raised American Express's forecast and 5 cut it.

Consensus EPS forecast American Express, last 90 days
$17.00 $18.00 $19.00 $20.00 $21.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $17.65 Current fiscal year, 60 days ago: $17.67 Current fiscal year, 30 days ago: $17.70 Current fiscal year, 7 days ago: $17.64 Current fiscal year, Now: $18.29 $18.29 Next fiscal year, 90 days ago: $20.10 Next fiscal year, 60 days ago: $20.11 Next fiscal year, 30 days ago: $20.17 Next fiscal year, 7 days ago: $20.13 Next fiscal year, Now: $20.17 $20.17

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $17.65$20.10
60 days ago $17.67$20.11
30 days ago $17.70$20.17
7 days ago $17.64$20.13
Now $18.29$20.17

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $4.50 $5.42 +20.4%
Jun 2026 $4.40 $4.53 +2.8%
Mar 2026 $3.99 $4.28 +7.2%
Dec 2025 $3.53 $3.53 −0.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 23, 2026

No numeric guidance in American Express's latest earnings release (filed October 23, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

30 analysts, Oct 2026
Buy1550%
Hold1550%
Sell00%

Monthly trend

  1. Oct 20265101530
  2. Sep 2026691429
  3. Aug 2026591530
  4. Jul 20265101430

Counts of recommendations published by analysts covering American Express, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.1%
of tradable shares
Days to cover
3.13
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
65%
of shares
Held by insiders
22.7%
of shares
Employees
76,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −8.1%

$356.71 on October 31, 2025 to $327.98

ThenNowEffect
Revenue (last 12 months) $68.6bn $76.0bn +10.7%
Net margin 14.8% 15.1% +1.9%
P/E multiple 24.7x 19.7x −20.4%
Share count 704m 687m +2.4%

Biggest factor: p/e multiple.

Last 3 years +122.1%

$147.68 on November 3, 2023 to $327.98

ThenNowEffect
Revenue (last 12 months) $57.1bn $76.0bn +33.1%
Net margin 13.0% 15.1% +15.6%
P/E multiple 14.8x 19.7x +33.1%
Share count 746m 687m +8.5%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
AXP+37%−9%+29%+60%+26%−10%
Industry peers (median)+44%−34%+12%+19%+20%+1%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
AXP75%42%33%75%67%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
AXP−20%−32%−21%−11%−29%−24%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 50% from February 19, 2020 to March 23, 2020. Getting back needed a 99% gain, reached on February 22, 2021, 336 days after the low.

Price behaviour

52-week range
$289.66 – $380.60
From 52-week high
−13.8%
vs 50-day average
+3.7%
vs 200-day average
+1.2%
Volatility (1 year)
26%
Beta vs S&P 500
0.92

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±4.3%
After a week
5 up, 7 down
typical move ±4.3%
After a month
5 up, 6 down
typical move ±7.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 23, 2026 −3.1% +0.2% −1.9% —
July 24, 2026 −1.6% +0.1% −1.3% −1.0%
April 23, 2026 −5.7% +0.4% −3.0% −6.3%
January 30, 2026 −1.6% +0.2% +0.2% −14.1%
October 17, 2025 +8.2% +1.6% +10.7% +5.6%
July 18, 2025 −3.9% +0.1% −1.2% −2.6%
April 17, 2025 −4.1% −2.2% +4.7% +18.3%
January 24, 2025 −2.9% −1.7% −2.6% −10.0%
October 18, 2024 −5.3% +0.2% −6.4% −0.1%
July 19, 2024 −1.8% +0.4% −1.3% +1.9%
April 19, 2024 +7.1% 0.0% +8.3% +11.4%
January 26, 2024 +6.8% +0.7% +9.8% +15.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

American Express in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) American Express
$60B $65B $70B $75B $80B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $60.5B Revenue (TTM), FY24 Q1: $62B Revenue (TTM), FY24 Q2: $63.3B Revenue (TTM), FY24 Q3: $64.6B Revenue (TTM), FY24 Q4: $65.9B Revenue (TTM), FY25 Q1: $67.1B Revenue (TTM), FY25 Q2: $68.6B Revenue (TTM), FY25 Q3: $70.4B Revenue (TTM), FY25 Q4: $72.2B Revenue (TTM), FY26 Q1: $74.2B Revenue (TTM), FY26 Q2: $76B Revenue (TTM), FY26 Q3: $77.6B $77.6B

Source: SEC EDGAR filings. Retrieved October 24, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $60.5B
FY24 Q1 $62B
FY24 Q2 $63.3B
FY24 Q3 $64.6B
FY24 Q4 $65.9B
FY25 Q1 $67.1B
FY25 Q2 $68.6B
FY25 Q3 $70.4B
FY25 Q4 $72.2B
FY26 Q1 $74.2B
FY26 Q2 $76B
FY26 Q3 $77.6B
Revenue growth, TTM YoY American Express
8% 10% 12% 14% 16% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 14.5% Revenue growth, TTM YoY, FY24 Q1: 12.0% Revenue growth, TTM YoY, FY24 Q2: 10.9% Revenue growth, TTM YoY, FY24 Q3: 9.6% Revenue growth, TTM YoY, FY24 Q4: 9.0% Revenue growth, TTM YoY, FY25 Q1: 8.2% Revenue growth, TTM YoY, FY25 Q2: 8.4% Revenue growth, TTM YoY, FY25 Q3: 9.1% Revenue growth, TTM YoY, FY25 Q4: 9.5% Revenue growth, TTM YoY, FY26 Q1: 10.5% Revenue growth, TTM YoY, FY26 Q2: 10.7% Revenue growth, TTM YoY, FY26 Q3: 10.2% 10.2%

Source: SEC EDGAR filings. Retrieved October 24, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 14.5%
FY24 Q1 12.0%
FY24 Q2 10.9%
FY24 Q3 9.6%
FY24 Q4 9.0%
FY25 Q1 8.2%
FY25 Q2 8.4%
FY25 Q3 9.1%
FY25 Q4 9.5%
FY26 Q1 10.5%
FY26 Q2 10.7%
FY26 Q3 10.2%
Operating margin (TTM) American Express
5% 10% 15% 20% 25% FY09 Q1 FY09 Q3 FY10 Q1 FY10 Q3 Operating margin (TTM), FY09 Q1: 9.8% Operating margin (TTM), FY09 Q2: 9.0% Operating margin (TTM), FY09 Q3: 8.8% Operating margin (TTM), FY09 Q4: 11.7% Operating margin (TTM), FY10 Q1: 14.2% Operating margin (TTM), FY10 Q2: 18.4% Operating margin (TTM), FY10 Q3: 20.5% 20.5%

Source: SEC EDGAR filings. Retrieved October 24, 2026.

View chart data
Period Operating margin (TTM)
FY09 Q1 9.8%
FY09 Q2 9.0%
FY09 Q3 8.8%
FY09 Q4 11.7%
FY10 Q1 14.2%
FY10 Q2 18.4%
FY10 Q3 20.5%
FCF margin (TTM) American Express
10% 20% 30% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 28.1% FCF margin (TTM), FY24 Q1: 36.9% FCF margin (TTM), FY24 Q2: 36.8% FCF margin (TTM), FY24 Q3: 20.4% FCF margin (TTM), FY24 Q4: 18.4% FCF margin (TTM), FY25 Q1: 16.9% FCF margin (TTM), FY25 Q2: 16.2% FCF margin (TTM), FY25 Q3: 26.9% FCF margin (TTM), FY25 Q4: 22.2% FCF margin (TTM), FY26 Q1: 19.3% FCF margin (TTM), FY26 Q2: 19.8% FCF margin (TTM), FY26 Q3: 17.9% 17.9%

Source: SEC EDGAR filings. Retrieved October 24, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 28.1%
FY24 Q1 36.9%
FY24 Q2 36.8%
FY24 Q3 20.4%
FY24 Q4 18.4%
FY25 Q1 16.9%
FY25 Q2 16.2%
FY25 Q3 26.9%
FY25 Q4 22.2%
FY26 Q1 19.3%
FY26 Q2 19.8%
FY26 Q3 17.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

What American Express earned on its loans and securities in FY2025, what it paid depositors and lenders, and how its revenue split between running costs, credit losses, tax and profit.

  1. Interest income $25.6B
  2. Fee and other income $54.9B · 76.0%
  3. Interest paid $8.2B
  4. Net interest income $17.4B · 24.0%
  5. Revenue $72.2B
  6. Non-interest expense $53.2B · 73.6%
  7. Credit-loss provisions $5.3B · 7.3%
  8. Pre-tax profit $13.8B · 19.1%
  9. Income tax $3B · 4.1%
  10. Net income $10.8B · 15.0%

Shares of revenue. Source: American Express's 10-K for FY2025, as filed with the SEC.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 24.5 27.8 30.0 31.6 32.9 34.2 32.8 35.4 36.9 40.3 43.6 36.1 42.4 52.9 60.5 65.9 72.2 77.6
EBITDA 3.9 — — — — — — — — — — — — — — — — —
Operating income 2.8 — — — — — — — — — — — — — — — — —
Net income 2.1 4.1 4.9 4.5 5.4 5.9 5.2 5.4 2.7 6.9 6.8 3.1 8.1 7.5 8.4 10.1 10.8 12.3
Diluted EPS $1.54 $3.35 $4.12 $3.89 $4.88 — — — — — $7.99 $3.77 $10.02 $9.85 $11.21 $14.01 $15.38 $17.96
Growth (year on year)
Revenue −13.5% +13.4% +7.7% +5.3% +4.2% +4.0% −4.0% +8.0% +4.1% +9.4% +8.0% −17.1% +17.4% +24.7% +14.5% +9.0% +9.5% +10.2%
EBITDA −8.9% — — — — — — — — — — — — — — — — —
Operating income −20.7% — — — — — — — — — — — — — — — — —
Net income −21.1% +90.5% +21.6% −9.2% +19.6% +9.8% −12.3% +4.1% −48.9% +151.9% −2.3% −53.6% +157.1% −6.8% +11.4% +21.0% +7.0% +16.3%
Diluted EPS −33.6% +117.5% +23.0% −5.6% +25.4% — — — — — — −52.8% +165.8% −1.7% +13.8% +25.0% +9.8% +19.2%
Margins
EBITDA margin 15.9% — — — — — — — — — — — — — — — — —
Operating margin 11.6% — — — — — — — — — — — — — — — — —
Net margin 8.7% 14.6% 16.5% 14.2% 16.3% 17.2% 15.7% 15.2% 7.5% 17.2% 15.5% 8.7% 19.0% 14.2% 13.8% 15.4% 15.0% 15.8%
Free-cash-flow margin 22.9% 29.0% 31.0% 19.1% 22.9% 28.7% 28.5% 19.5% 33.8% 18.9% 27.5% 11.4% 30.9% 36.4% 28.1% 18.4% 22.2% 17.9%
Cash flow
Cash from operations 6.3 8.9 10.5 7.1 8.5 11.0 10.7 8.3 13.5 8.9 13.6 5.6 14.6 21.1 18.6 14.1 18.4 17.6
Capital spending 0.7 0.9 1.2 1.1 1.0 1.2 1.3 1.4 1.1 1.3 1.6 1.5 1.6 1.9 1.6 1.9 2.4 3.7
Free cash flow 5.6 8.1 9.3 6.0 7.5 9.8 9.4 6.9 12.5 7.6 12.0 4.1 13.1 19.2 17.0 12.1 16.0 13.9
Stock-based pay 0.2 0.3 0.3 0.3 0.4 0.3 0.2 0.3 0.3 0.3 0.3 0.2 0.3 0.4 0.5 0.5 0.6 0.6
Free cash flow after stock pay 5.4 7.8 9.0 5.7 7.2 9.5 9.1 6.7 12.2 7.3 11.7 3.9 12.8 18.8 16.5 11.6 15.5 13.3
Balance sheet
Cash 4.1 0.7 — — — — 23.2 25.5 33.3 27.8 24.4 33.0 21.5 33.4 46.6 40.6 47.8 43.2
Total debt 79.6 69.8 63.9 62.3 60.4 61.4 52.9 52.6 59.1 61.5 64.3 44.8 40.9 43.9 49.2 51.1 57.8 60.0
Net debt (negative = net cash) 75.6 69.2 — — — — 29.6 27.1 25.8 33.7 39.8 11.9 19.4 10.6 2.6 10.4 10.0 16.8
Diluted shares 1,171m 1,195m 1,184m 1,141m 1,089m 1,051m 1,003m 935m 886m 859m 830m 806m 790m 752m 736m 713m 696m 682m
Returned to shareholders
Dividends 0.9 0.9 0.9 0.9 0.9 1.0 1.2 1.2 1.3 1.3 1.4 1.5 1.4 1.6 1.8 2.0 2.3 2.5
Buybacks 0.0 0.6 2.3 4.0 3.9 4.4 4.5 4.4 4.3 1.6 — 1.0 7.7 3.5 3.7 6.0 5.8 6.7
Total returned 0.9 1.5 3.2 4.9 4.9 5.4 5.7 5.6 5.6 2.9 1.4 2.5 9.1 5.1 5.4 8.0 8.1 9.2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$6.7B
Dividends (TTM)
$2.5B
Returned to shareholders
66%
of free cash flow
Buybacks, last 3 fiscal years
$15.5B
Diluted share count
−2.5%
year over year
Total shareholder yield
4.2%
dividends 1.1% + buybacks 3.0% of market value
Dividend payout ratio
20%
of net income paid out

Competitors: side by side with peers

Closest by revenue in consumer finance
Last 12 months unless stated AXP COF SYF ALLY OMF UPBD Median
Revenue, last 12 months $77.6bn $62.0bn $19.3bn $8.8bn $5.2bn $4.7bn $1.6bn
Revenue growth, last 12 months 10.2% 45.3% 2.6% 13.1% 8.8% 3.2% 10.4%
Revenue growth, 3-year average 9.6% 20.1% 4.6% 1.9% 7.1% 6.0% 11.3%
Revenue growth, latest quarter 8.9% 26.9% 1.4% 7.6% 10.0% −1.6% 10.6%
Operating margin 20.5% — — — — 5.5% 11.2%
Net margin 15.8% 17.0% 17.3% 16.8% 14.7% 2.4% 10.5%
Cash from operations / revenue 22.7% 50.7% 49.5% 56.1% 61.7% 10.6% 22.7%
Free-cash-flow margin 17.9% 47.9% 46.5% 39.0% 55.9% 9.2% 18.4%
Free-cash-flow margin, 3-year average 21.8% 50.0% 48.0% 33.9% 55.4% 4.8% 23.6%
Stock pay / revenue 0.8% 1.1% — 1.7% 0.7% 0.5% 1.3%
Change in share count −2.5% 52.1% −11.3% 0.2% −2.5% 1.2% −0.8%

Median of all 39 companies we cover in consumer finance. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

39 consumer finance companies
Measure Company Peer median Rank
Revenue growth Growth 10.2% 10.4% 21 of 39
Change in growth rate Growth -0.5pp +0.6pp 22 of 38
Net margin Profitability 15.8% 10.5% 12 of 39
Stock pay as % of revenue Cash generation 0.8% 1.3% 12 of 36
Change in share count Balance sheet -2.5% -0.0% 13 of 38

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
US Consumer Services $15.6B 37.8% ▲ 7.9%
Commercial Services $11.9B 28.7% ▲ 2.6%
International Card Services $7.5B 18.3% ▲ 11.5%
Global Merchant and Network Services $6.3B 15.3% ▲ 4.2%

From American Express's 10-K filed February 6, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$196B
Institutions reporting
2,994
Shares held vs prior quarter
0.0%
Positions opened / closed
219 / 115

Top buyers and sellers, Q2 2026: 1,423 institutions bought and 1,172 sold ; the biggest buyer was Vanguard Capital Management LLC (+2.2M shares) and the biggest seller FMR LLC (−3.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Berkshire Hathaway Inc $51.3B 151.6M 26.2% 0.0%
Blackrock, Inc. $14.2B 42.0M 7.3% ▲ 0.2%
Vanguard Capital Management LLC $11.9B 35.2M 6.1% ▲ 6.7%
State Street Corp $9.8B 29.1M 5.0% ▼ 0.5%
Jpmorgan Chase & Co $7B 20.5M 3.6% ▲ 0.3%
Geode Capital Management, LLC $4.7B 14.0M 2.4% ▼ 1.0%
Morgan Stanley $4.4B 13.1M 2.3% ▲ 2.4%
Fisher Asset Management, LLC $3.2B 9.4M 1.6% ▲ 1.9%
Vanguard Portfolio Management LLC $3B 8.7M 1.5% ▲ 9.9%
Norges Bank $2.7B 8.0M 1.4% —
Bank Of America Corp $2.7B 8.0M 1.4% ▲ 8.4%
Price T Rowe Associates Inc $2.4B 7.0M 1.2% ▲ 0.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not American Express's complete shareholder register. Values are as reported by the filers ; 6 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $42.3M 16 trades by 9 insiders · 0% under pre-set plans
Net ▼ $42.3M net selling
Insider Date Trade Shares Price Value
Herena Monique Chief Colleague Exp. Officer August 18, 2026 Sell 8,811 $337.41 $3M
Mcneal Glenda G Chief Partner Officer June 15, 2026 Sell 7,033 $339.36 $2.4M
Joabar Raymond Grp. Pres., Global Comm. Serv. March 13, 2026 Sell 16 $301.27 $4,820
Lieberman Quinn Jessica EVP - Controller March 6, 2026 Sell 3,032 $300.02 $909,661
Joabar Raymond Grp. Pres., Global Comm. Serv. March 2, 2026 Sell 24 $309.85 $7,436
Joabar Raymond Grp. Pres., Global Comm. Serv. February 19, 2026 Sell 3,348 $341.95 $1.1M
Joabar Raymond Grp. Pres., Global Comm. Serv. February 19, 2026 Sell 4,977 $341.14 $1.7M
Joabar Raymond Grp. Pres., Global Comm. Serv. February 19, 2026 Sell 2,840 $340.03 $965,685
Joabar Raymond Grp. Pres., Global Comm. Serv. February 19, 2026 Sell 2,835 $338.98 $961,008
Grosfield Howard Group Pres., U.S. Cons. Serv. February 12, 2026 Sell 8,134 $346.73 $2.8M
Seeger Laureen Chief Legal Officer February 9, 2026 Sell 12,737 $360.99 $4.6M
Radhakrishnan Ravikumar Chief Information Officer February 9, 2026 Sell 6,638 $357.13 $2.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 101 trades and filings

In the last 12 months, 4 members of Congress disclosed 2 purchases and 3 sales of American Express shares.

  • Rick W. Allen(R-GA 12):Purchase, $1,001 - $15,000, traded May 8, 2026, filed June 16, 2026
  • Rick Larsen(D-WA 2):Sale (full), $1,001 - $15,000, traded April 7, 2026, filed April 15, 2026
  • Jared Moskowitz(D-FL 23):Purchase, $1,001 - $15,000, traded March 31, 2026, filed April 30, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 29, 2027 estimated from the company's past filing pattern, not announced

  • October 23, 2026
  • July 24, 2026
  • April 23, 2026
  • January 30, 2026
  • October 17, 2025
  • July 18, 2025

Recent SEC filings

Data status

When each part of this page on American Express was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

American Express in brief

What does American Express do?
American Express is a US-listed company in the consumer finance industry. Its financial year ends in December.
What is American Express's stock ticker?
American Express trades under the ticker AXP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is American Express's revenue, and how fast is it growing?
Over its most recent trailing twelve months, American Express reported revenue of $77.6B, 10.2% higher than a year earlier, according to its SEC filings.
What is American Express's free cash flow?
American Express's free-cash-flow margin is 17.9% of revenue over the trailing twelve months.
Who are American Express's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Berkshire Hathaway Inc, Blackrock, Inc. and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is American Express buying back stock, and does it pay a dividend?
American Express spent $6.7B on share repurchases over the trailing twelve months, and its diluted share count fell 2.5% over the year.
What is American Express's market cap?
On November 2, 2026, American Express's market capitalisation was about $224B, with a price-to-earnings ratio of 18.3 and net debt of $16.8B. Market figures come from third-party market data and may be delayed.
Does American Express pay a dividend?
Yes: American Express paid $2.5B in dividends over the trailing twelve months, a dividend yield of 1.14% and a payout ratio of 20.4%.
Who are American Express's competitors?
In our Consumer Finance peer group, the companies closest to American Express are Capital One, Synchrony Financial, Ally Financial Inc., Onemain Holdings, Inc. and Upbound Group, Inc. The side-by-side comparison below sets their revenue, margins and growth against American Express's.
Are insiders buying or selling American Express stock?
Over the last 12 months, American Express's directors and officers reported 0 open-market purchases and 16 sales on Form 4. The insider trading page charts every trade.
When is American Express's next earnings date?
Around January 29, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — American Express announces its own schedule.