American Express Company

AXPNYSE

$318.94

Last price · USD

Market cap: $222.0B
P/E: 20.7x
EV / EBITDA: 14.9x
P/S: 2.8x
FCF yield: 7.2%
Div. yield: 1.02%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

American Express Company key metrics & ratios

Annual · USD millions except per-share data · 36 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Growth (year over year)
Revenue growth	8.4%	10.1%	21.1%	25.2%	—	—
Operating income growth	7.0%	22.7%	9.7%	-10.3%	—	—
Net income growth	7.0%	21.0%	11.4%	-6.8%	—	—
EPS (diluted) growth	9.7%	25.1%	13.9%	-1.8%	—	—
Free cash flow growth	31.8%	-28.6%	-11.6%	46.8%	—	—
Margins
Gross margin	83.2%	81.9%	82.5%	91.1%	100.3%	—
Operating margin	17.1%	17.4%	15.6%	17.2%	24.1%	—
EBITDA margin	19.4%	19.6%	18.1%	20.2%	27.9%	—
Net margin	13.5%	13.7%	12.4%	13.5%	18.1%	—
FCF margin	19.9%	16.4%	25.2%	34.6%	29.5%	—
Returns on capital
Return on equity	32.4%	33.5%	29.8%	30.4%	36.3%	—
Return on assets	3.6%	3.7%	3.2%	3.3%	4.3%	—
Return on invested capital	24.9%	24.8%	27.3%	21.4%	19.4%	—
Leverage & liquidity
Debt / equity	1.73x	1.69x	1.75x	1.78x	1.85x	—
Net debt / EBITDA	0.65x	0.72x	0.22x	0.93x	1.57x	—
Current ratio	0.28x	0.27x	0.33x	0.31x	0.27x	—
Interest coverage	1.68x	1.56x	1.53x	3.47x	8.33x	—
Profitability & operating
EBIT	13,795	12,895	10,513	9,585	10,689	+6.6%
EBITDA	15,572	14,571	12,164	11,211	12,384	+5.9%
Operating income	13,795	12,895	10,513	9,585	10,689	+6.6%
Income before tax	13,795	12,895	10,513	9,585	10,689	+6.6%
Net income	10,833	10,129	8,374	7,514	8,060	+7.7%
Earnings per share
EPS (basic)	$15.41	$14.04	$11.23	$9.85	$10.03	+11.3%
EPS (diluted)	$15.38	$14.02	$11.21	$9.84	$10.02	+11.3%
Share count (millions)
Weighted avg shares outstanding	695	713	735	751	789	-3.1%
Weighted avg shares outstanding (diluted)	696	713	736	752	790	-3.1%
Balance sheet highlights
Net debt	10,051	10,537	2,629	10,384	19,396	-15.2%
Total debt	57,759	51,089	49,159	43,921	40,918	+9.0%
Total investments	221,879	210,315	195,678	175,889	148,172	+10.6%
Total stockholders' equity	33,474	30,264	28,057	24,711	22,177	+10.8%
Total assets	300,052	271,461	261,108	228,354	188,548	+12.3%
Cash flow highlights
Free cash flow	16,003	12,139	16,996	19,224	13,095	+5.1%
Operating cash flow	18,428	14,050	18,559	21,079	14,645	+5.9%
Capital expenditure	(2,425)	(1,911)	(1,563)	(1,855)	(1,550)	—
Net cash from operating activities	18,428	14,050	18,559	21,079	14,645	+5.9%
Additional fields
Accrued Expenses	2,247	2,121	2,061	2,126	1,809	+5.6%

American Express Company

AXPNYSE

$318.94

Last price · USD

Market cap: $222.0B
P/E: 20.7x
EV / EBITDA: 14.9x
P/S: 2.8x
FCF yield: 7.2%
Div. yield: 1.02%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

American Express Company key metrics & ratios

Annual · USD millions except per-share data · 36 lines

Fiscal year	2025latest	2024	2023	2022	2021	CAGR
Growth (year over year)
Revenue growth	8.4%	10.1%	21.1%	25.2%	—	—
Operating income growth	7.0%	22.7%	9.7%	-10.3%	—	—
Net income growth	7.0%	21.0%	11.4%	-6.8%	—	—
EPS (diluted) growth	9.7%	25.1%	13.9%	-1.8%	—	—
Free cash flow growth	31.8%	-28.6%	-11.6%	46.8%	—	—
Margins
Gross margin	83.2%	81.9%	82.5%	91.1%	100.3%	—
Operating margin	17.1%	17.4%	15.6%	17.2%	24.1%	—
EBITDA margin	19.4%	19.6%	18.1%	20.2%	27.9%	—
Net margin	13.5%	13.7%	12.4%	13.5%	18.1%	—
FCF margin	19.9%	16.4%	25.2%	34.6%	29.5%	—
Returns on capital
Return on equity	32.4%	33.5%	29.8%	30.4%	36.3%	—
Return on assets	3.6%	3.7%	3.2%	3.3%	4.3%	—
Return on invested capital	24.9%	24.8%	27.3%	21.4%	19.4%	—
Leverage & liquidity
Debt / equity	1.73x	1.69x	1.75x	1.78x	1.85x	—
Net debt / EBITDA	0.65x	0.72x	0.22x	0.93x	1.57x	—
Current ratio	0.28x	0.27x	0.33x	0.31x	0.27x	—
Interest coverage	1.68x	1.56x	1.53x	3.47x	8.33x	—
Profitability & operating
EBIT	13,795	12,895	10,513	9,585	10,689	+6.6%
EBITDA	15,572	14,571	12,164	11,211	12,384	+5.9%
Operating income	13,795	12,895	10,513	9,585	10,689	+6.6%
Income before tax	13,795	12,895	10,513	9,585	10,689	+6.6%
Net income	10,833	10,129	8,374	7,514	8,060	+7.7%
Earnings per share
EPS (basic)	$15.41	$14.04	$11.23	$9.85	$10.03	+11.3%
EPS (diluted)	$15.38	$14.02	$11.21	$9.84	$10.02	+11.3%
Share count (millions)
Weighted avg shares outstanding	695	713	735	751	789	-3.1%
Weighted avg shares outstanding (diluted)	696	713	736	752	790	-3.1%
Balance sheet highlights
Net debt	10,051	10,537	2,629	10,384	19,396	-15.2%
Total debt	57,759	51,089	49,159	43,921	40,918	+9.0%
Total investments	221,879	210,315	195,678	175,889	148,172	+10.6%
Total stockholders' equity	33,474	30,264	28,057	24,711	22,177	+10.8%
Total assets	300,052	271,461	261,108	228,354	188,548	+12.3%
Cash flow highlights
Free cash flow	16,003	12,139	16,996	19,224	13,095	+5.1%
Operating cash flow	18,428	14,050	18,559	21,079	14,645	+5.9%
Capital expenditure	(2,425)	(1,911)	(1,563)	(1,855)	(1,550)	—
Net cash from operating activities	18,428	14,050	18,559	21,079	14,645	+5.9%
Additional fields
Accrued Expenses	2,247	2,121	2,061	2,126	1,809	+5.6%