What is American Express Co's earnings per share (EPS)?

American Express Co (AXP) reported diluted earnings per share of $15.38 for fiscal year 2025. This represents a 9.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

American Express Co Financials

AXP

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows American Express Co (AXP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 19 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AXP FY2025 2026-04-23

High shareholder returns come from a large funded balance sheet that converts modest asset profits into outsized equity earnings.

FY2025's 32.4% ROE sits on only 3.6% ROA, showing how heavily returns to shareholders depend on the balance sheet rather than on wide reported margins. With assets of $300.1B backed by liabilities of $266.6B, the company is using scale and funding structure to turn modest asset profitability into much stronger equity profitability without a recent step-up in leverage.

Cash conversion strengthened as operating cash flow reached $18.4B against net income of $10.8B, widening the cash cushion after the prior year's softer conversion. Free cash flow recovered to $16.0B even though capital spending rose to $2.4B, suggesting the earlier dip was not simply a permanent increase in reinvestment needs.

Capital returns were comfortably covered internally: buybacks plus dividends used about $8.1B versus free cash flow of $16.0B. That matters because cash of $47.8B sits near long-term debt of $56.4B, so shareholder distributions do not appear to rely on a meaningfully looser balance-sheet posture.

Financial Health Signals

Financial health score pending refresh

We are recalculating American Express Co's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/7

American Express Co passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.70x

For every $1 of reported earnings, American Express Co generates $1.70 in operating cash flow ($18.4B OCF vs $10.8B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$72.2B

YoY+9.5%

5Y CAGR+14.9%

10Y CAGR+8.2%

American Express Co generated $72.2B in revenue in fiscal year 2025. This represents an increase of 9.5% from the prior year.

EBITDA

N/A

Net Income

$10.8B

YoY+7.0%

5Y CAGR+28.1%

10Y CAGR+7.7%

American Express Co reported $10.8B in net income in fiscal year 2025. This represents an increase of 7.0% from the prior year.

EPS (Diluted)

$15.38

YoY+9.8%

5Y CAGR+32.5%

10Y CAGR+11.8%

American Express Co earned $15.38 per diluted share (EPS) in fiscal year 2025. This represents an increase of 9.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$16.0B

YoY+31.8%

5Y CAGR+31.2%

10Y CAGR+5.5%

American Express Co generated $16.0B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 31.8% from the prior year.

Cash & Debt

$47.8B

YoY+17.6%

5Y CAGR+7.7%

10Y CAGR+7.5%

American Express Co held $47.8B in cash against $56.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$3.28

YoY+17.1%

5Y CAGR+13.8%

10Y CAGR+11.2%

American Express Co paid $3.28 per share in dividends in fiscal year 2025. This represents an increase of 17.1% from the prior year.

Shares Outstanding

687M

YoY-2.3%

5Y CAGR-3.1%

10Y CAGR-3.3%

American Express Co had 687M shares outstanding in fiscal year 2025. This represents a decrease of 2.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

15.0%

YoY-0.4pp

5Y CAGR+6.3pp

10Y CAGR-0.7pp

American Express Co's net profit margin was 15.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity

32.4%

YoY-1.1pp

5Y CAGR+18.7pp

10Y CAGR+7.4pp

American Express Co's ROE was 32.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$5.8B

YoY-3.4%

5Y CAGR+41.4%

10Y CAGR+2.6%

American Express Co spent $5.8B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 3.4% from the prior year.

Capital Expenditures

$2.4B

YoY+26.9%

5Y CAGR+10.4%

10Y CAGR+6.1%

American Express Co invested $2.4B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.9% from the prior year.

AXP Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$72.2B+9.5%	$65.9B+9.0%	$60.5B+14.5%	$52.9B+24.7%	$42.4B+17.4%	$36.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$9.0B+10.0%	$8.2B+1.6%	$8.1B+11.2%	$7.3B+16.2%	$6.2B+9.1%	$5.7B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$8.2B-0.2%	$8.3B+20.5%	$6.8B+147.9%	$2.8B+115.4%	$1.3B-38.8%	$2.1B
Income Tax	$3.0B+7.1%	$2.8B+29.3%	$2.1B+3.3%	$2.1B-21.2%	$2.6B+126.4%	$1.2B
Net Income	$10.8B+7.0%	$10.1B+21.0%	$8.4B+11.4%	$7.5B-6.8%	$8.1B+157.1%	$3.1B
EPS (Diluted)	$15.38+9.8%	$14.01+25.0%	$11.21+13.8%	$9.85-1.7%	$10.02+165.8%	$3.77

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$18.9B-0.4%	$19.0B+3.0%	$18.4B+3.2%	$17.9B+5.2%	$17.0B-1.2%	$17.2B+3.3%	$16.6B+1.9%	$16.3B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.5B-0.9%	$2.5B+11.9%	$2.2B+4.0%	$2.2B+1.5%	$2.1B+0.9%	$2.1B+2.6%	$2.0B+5.1%	$1.9B
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$2.0B-4.2%	$2.1B-3.3%	$2.1B+2.6%	$2.1B+5.6%	$2.0B-3.6%	$2.0B-4.9%	$2.1B+3.8%	$2.1B
Income Tax	$807.0M+28.5%	$628.0M-32.0%	$923.0M+38.8%	$665.0M-10.9%	$746.0M+27.3%	$586.0M-15.9%	$697.0M-10.1%	$775.0M
Net Income	$3.0B+20.7%	$2.5B-15.2%	$2.9B+0.6%	$2.9B+11.6%	$2.6B+19.1%	$2.2B-13.4%	$2.5B-16.8%	$3.0B
EPS (Diluted)	$4.28	N/A	$4.14+1.5%	$4.08+12.1%	$3.64	N/A	$3.49-15.9%	$4.15

AXP Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$300.1B+10.5%	$271.5B+4.0%	$261.1B+14.3%	$228.4B+20.8%	$189.0B-1.0%	$191.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$47.8B+17.6%	$40.6B-12.8%	$46.6B+39.6%	$33.4B+55.2%	$21.5B-34.8%	$33.0B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$4.9B+16.4%	$4.2B+8.7%	$3.9B+1.7%	$3.8B-0.5%	$3.8B-1.2%	$3.9B
Total Liabilities	$266.6B+10.5%	$241.2B+3.5%	$233.1B+14.4%	$203.6B+22.4%	$166.4B-1.2%	$168.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$56.4B+13.4%	$49.7B+3.9%	$47.9B+12.4%	$42.6B+10.1%	$38.7B-10.0%	$43.0B
Total Equity	$33.5B+10.6%	$30.3B+7.9%	$28.1B+13.5%	$24.7B+11.4%	$22.2B-3.5%	$23.0B
Retained Earnings	$25.5B+15.1%	$22.1B+12.9%	$19.6B+20.5%	$16.3B+20.8%	$13.5B-2.6%	$13.8B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$308.9B+2.9%	$300.1B+0.8%	$297.6B+0.7%	$295.6B+4.7%	$282.2B+4.0%	$271.5B+0.2%	$271.0B-0.5%	$272.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$53.8B+12.5%	$47.8B-12.6%	$54.7B-5.6%	$57.9B+10.3%	$52.5B+29.2%	$40.6B-15.2%	$47.9B-9.4%	$52.9B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	$4.9B	N/A	N/A	N/A	$4.2B	N/A	N/A
Total Liabilities	$274.9B+3.1%	$266.6B+0.5%	$265.1B+0.7%	$263.2B+4.9%	$251.0B+4.1%	$241.2B0.0%	$241.3B-0.6%	$242.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$58.8B+4.2%	$56.4B-2.4%	$57.8B-0.7%	$58.2B+13.6%	$51.2B+3.1%	$49.7B-7.2%	$53.5B+3.9%	$51.5B
Total Equity	$34.0B+1.6%	$33.5B+3.3%	$32.4B+0.3%	$32.3B+3.6%	$31.2B+3.1%	$30.3B+1.9%	$29.7B+0.6%	$29.5B
Retained Earnings	$26.1B+2.4%	$25.5B+4.2%	$24.5B+0.4%	$24.4B+4.2%	$23.4B+5.6%	$22.1B+3.2%	$21.5B+0.9%	$21.3B

AXP Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$18.4B+31.2%	$14.1B-24.3%	$18.6B-12.0%	$21.1B+43.9%	$14.6B+161.9%	$5.6B
Capital Expenditures	$2.4B+26.9%	$1.9B+22.3%	$1.6B-15.7%	$1.9B+19.7%	$1.6B+4.9%	$1.5B
Free Cash Flow	$16.0B+31.8%	$12.1B-28.6%	$17.0B-11.6%	$19.2B+46.8%	$13.1B+218.4%	$4.1B
Investing Cash Flow	-$22.9B+6.2%	-$24.4B+0.1%	-$24.4B+27.5%	-$33.7B-220.0%	-$10.5B-190.5%	$11.6B
Financing Cash Flow	$11.2B+152.7%	$4.4B-75.9%	$18.4B-25.0%	$24.5B+264.1%	-$14.9B-64.7%	-$9.1B
Dividends Paid	$2.3B+13.6%	$2.0B+12.3%	$1.8B+13.7%	$1.6B+8.1%	$1.4B-1.8%	$1.5B
Share Buybacks	$5.8B-3.4%	$6.0B+64.9%	$3.6B+4.2%	$3.5B-54.2%	$7.7B+643.6%	$1.0B

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$3.8B+24.0%	$3.1B-50.8%	$6.2B+42.8%	$4.4B-8.4%	$4.8B-17.5%	$5.8B+418.9%	-$1.8B-140.0%	$4.5B
Capital Expenditures	$1.1B+59.1%	$722.0M+10.4%	$654.0M+5.7%	$619.0M+44.0%	$430.0M-13.1%	$495.0M+8.8%	$455.0M-19.5%	$565.0M
Free Cash Flow	$2.7B+13.2%	$2.3B-58.0%	$5.6B+49.0%	$3.7B-13.6%	$4.3B-18.0%	$5.3B+333.0%	-$2.3B-157.1%	$4.0B
Investing Cash Flow	-$2.9B+71.1%	-$9.9B-50.8%	-$6.6B+2.9%	-$6.8B-1607.1%	$451.0M+103.7%	-$12.2B-247.7%	-$3.5B+35.9%	-$5.5B
Financing Cash Flow	$5.0B+3331.2%	-$154.0M+94.8%	-$3.0B-138.5%	$7.7B+15.6%	$6.6B+962.7%	-$770.0M-320.0%	$350.0M+207.7%	-$325.0M
Dividends Paid	$583.0M0.0%	$583.0M-0.5%	$586.0M-1.2%	$593.0M+16.5%	$509.0M-0.2%	$510.0M-1.2%	$516.0M-1.0%	$521.0M
Share Buybacks	$1.9B+112.6%	$899.0M-61.8%	$2.4B+73.4%	$1.4B+12.3%	$1.2B+17.2%	$1.0B-46.7%	$1.9B+9.8%	$1.8B

AXP Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	15.0%-0.4pp	15.4%+1.5pp	13.8%-0.4pp	14.2%-4.8pp	19.0%+10.3pp	8.7%
Return on Equity	32.4%-1.1pp	33.5%+3.6pp	29.8%-0.6pp	30.4%-5.9pp	36.3%+22.7pp	13.6%
Return on Assets	3.6%-0.1pp	3.7%+0.5pp	3.2%-0.1pp	3.3%-1.0pp	4.3%+2.6pp	1.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.68+0.0	1.64-0.1	1.71-0.0	1.72-0.0	1.74-0.1	1.87
FCF Margin	22.2%+3.7pp	18.4%-9.7pp	28.1%-8.3pp	36.4%+5.5pp	30.9%+19.5pp	11.4%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	15.7%+2.7pp	13.0%-2.8pp	15.8%-0.4pp	16.2%+0.9pp	15.2%+2.6pp	12.6%-2.4pp	15.1%-3.4pp	18.5%
Return on Equity	8.7%+1.4pp	7.3%-1.6pp	8.9%+0.0pp	8.9%+0.7pp	8.3%+1.1pp	7.2%-1.3pp	8.4%-1.8pp	10.2%
Return on Assets	1.0%+0.1pp	0.8%-0.2pp	1.0%0.0pp	1.0%+0.1pp	0.9%+0.1pp	0.8%-0.1pp	0.9%-0.2pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.73+0.0	1.68-0.1	1.78-0.0	1.80+0.2	1.640.0	1.64-0.2	1.80+0.1	1.74
FCF Margin	14.0%+1.7pp	12.4%-17.9pp	30.3%+9.3pp	21.0%-4.6pp	25.5%-5.2pp	30.8%+44.4pp	-13.6%-37.9pp	24.3%

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Frequently Asked Questions

What is American Express Co's annual revenue?

American Express Co (AXP) reported $72.2B in total revenue for fiscal year 2025. This represents a 9.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is American Express Co's revenue growing?

American Express Co (AXP) revenue grew by 9.5% year-over-year, from $65.9B to $72.2B in fiscal year 2025.

Is American Express Co profitable?

Yes, American Express Co (AXP) reported a net income of $10.8B in fiscal year 2025, with a net profit margin of 15.0%.

How much debt does American Express Co have?

As of fiscal year 2025, American Express Co (AXP) had $47.8B in cash and equivalents against $56.4B in long-term debt.

What is American Express Co's net profit margin?

American Express Co (AXP) had a net profit margin of 15.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does American Express Co pay dividends?

Yes, American Express Co (AXP) paid $3.28 per share in dividends during fiscal year 2025.

What is American Express Co's return on equity (ROE)?

American Express Co (AXP) has a return on equity of 32.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is American Express Co's free cash flow?

American Express Co (AXP) generated $16.0B in free cash flow during fiscal year 2025. This represents a 31.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is American Express Co's operating cash flow?

American Express Co (AXP) generated $18.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are American Express Co's total assets?

American Express Co (AXP) had $300.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are American Express Co's capital expenditures?

American Express Co (AXP) invested $2.4B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does American Express Co buy back shares?

Yes, American Express Co (AXP) spent $5.8B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does American Express Co have outstanding?

American Express Co (AXP) had 687M shares outstanding as of fiscal year 2025.

What is American Express Co's debt-to-equity ratio?

American Express Co (AXP) had a debt-to-equity ratio of 1.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is American Express Co's return on assets (ROA)?

American Express Co (AXP) had a return on assets of 3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is American Express Co's Piotroski F-Score?

American Express Co (AXP) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are American Express Co's earnings high quality?

American Express Co (AXP) has an earnings quality ratio of 1.70x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.