American Express balance sheet

At the end of fiscal 2025, American Express had total assets of $300.05bn, total liabilities of $266.58bn and shareholders' equity of $33.47bn. It held $47.79bn in cash against $57.76bn of debt.

Balance sheet

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

American Express: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	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
Goodwill	2.3	2.6	3.2	3.2	3.2	3.0	2.7	2.9	3.0	3.1	3.3	3.9	3.8	3.8	3.9	4.2	4.9	—
Total assets	125.1	146.7	153.3	153.1	153.0	159.0	161.0	159.0	181.0	189.0	198.0	191.0	189.0	228.4	261.1	271.5	300.1	310.3
Deferred revenue (current)	—	—	—	—	—	—	—	—	—	0.7	—	—	—	—	—	—	—	—
Short-term debt	2.3	3.4	4.3	3.3	5.0	3.5	4.8	5.6	3.3	3.1	6.4	1.9	2.2	1.3	1.3	1.4	1.4	1.4
Long-term debt	77.3	66.4	59.6	59.0	55.3	58.0	48.1	47.0	55.8	58.4	57.8	43.0	38.7	42.6	47.9	49.7	56.4	58.5
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
Total liabilities	110.7	130.5	134.5	134.3	133.9	138.4	140.5	138.4	162.9	166.3	175.3	168.4	166.4	203.6	233.1	241.2	266.6	274.5
Shareholders' equity	12.6	18.8	18.8	18.9	19.5	20.7	20.7	20.5	18.3	22.3	23.1	23.0	22.2	24.7	28.1	30.3	33.5	35.8
Shares outstanding	1,192m	1,197m	1,164m	1,105m	1,064m	1,023m	969m	904m	859m	847m	810m	805m	761m	743m	723m	702m	686m	671m

US$ billions unless shown otherwise. Fiscal quarters.

American Express: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Goodwill	4.2	—	—	—	4.9	—	—	—
Total assets	271.5	282.2	295.6	297.6	300.1	308.9	308.2	310.3
Short-term debt	1.4	1.6	1.5	1.4	1.4	1.7	2.0	1.4
Long-term debt	49.7	51.2	58.2	57.8	56.4	58.8	57.0	58.5
Total debt	51.1	52.8	59.7	59.2	57.8	60.4	59.0	60.0
Total liabilities	241.2	251.0	263.2	265.1	266.6	274.9	273.9	274.5
Shareholders' equity	30.3	31.2	32.3	32.4	33.5	34.0	34.3	35.8
Shares outstanding	702m	701m	696m	689m	686m	682m	675m	671m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from American Express's SEC filings (10-K and 10-Q), retrieved October 24, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to American Express.