American ExpressAXPRevenue: is the business selling more than it used to?
$41.3B+6% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $41.3B in 2025, compounding +6% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $43.1B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPNet income: how much of that revenue becomes profit?
$10.8B+7% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $10.8B in 2025, compounding +13% a year over three years. Trailing twelve-month profit stands at $11.4B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPHow fast is it growing, year by year?
+6.4%revenue growth, FY 2025
→Revenue grew +6% in 2025 against a five-year average of +14%. Earnings grew faster (+7%), so each new dollar of sales is arriving more profitably.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPRevenue per share: is your slice growing as fast as the company?
$59.34revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $59.34 in 2025, compounding +9% a year against +6% for AXP as a whole. Buybacks added roughly 2.8 points to your per-share result.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Net margin stands at 26% in 2025. AXP doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→AXP earns 33% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPWhat has the market paid for AXP over time?
19.8xP/E today
→At 19.8x earnings, the market is paying +37% more than AXP's own 11-year median of 14.5x. Expectations are elevated, so more has to go right to justify the price.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPCould it handle its debt if things went wrong?
→Debt of $59.0B sits against $45.2B of cash, or 1.7x shareholders' equity. Earnings cover interest only 0.7 times, which is thin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPIs the company's own capital growing?
→The company's own capital grew from $28.1B in 2023 to $34.3B (+22%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPHow much goes back, and how much leaks out as stock comp?
→Shareholders received $5.8B in buybacks and $2.3B in dividends in 2025. Stock compensation issued $551M of new shares in the same year, offsetting 7% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPHow fast is your ownership being diluted - or concentrated?
→The share count shrank 2.4% in 2025, averaging 2.5% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPIs the dividend cheque growing?
→The dividend per share reached $3.26 in 2025, compounding +12% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The dividend consumed 21% of profit and 14% of free cash flow in 2025. That leaves room to keep paying through a weak year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPDoes AXP earn more on its capital than that capital costs?
→AXP earns 32.4% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 30.4% in 2022, so the trend is up, though the path has been bumpy.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPAXP has issued or retired shares - did shareholders end up better off?
→AXP has shrunk its share count -41% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +81% over the same years.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPWhat does AXP earn on the money it lends out?
→AXP earns 5.79% on its assets after paying for deposits and other funding. That is above the 0.74% median of the largest US banks. The spread has widened from 4.33% in 2022. This spread is where a bank's profit begins, so it drives everything below.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPHow much does it cost to run the bank?
→It costs AXP 73.6% of every revenue dollar to run the bank, and lower is better here. Peers run at 32.5%, so AXP is carrying more cost per dollar of revenue. It has improved from 77.7% in 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPIs it a lender, or a fee business?
→More than half of AXP's revenue (76%) comes from fees rather than interest, on $72.2B of total revenue in 2025. The mix has tilted back towards lending since 2011, and fee income matters because it does not depend on interest rates.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPWhat is the bank setting aside for loans that go bad?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→AXP set aside $3.6B against expected credit losses in 2019, among the higher in its filed history. The sharpest move was 2010, when the charge went from $5.3B to $2.2B. Provisions rise before losses do, so this is the bank's own early read on borrower stress.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPIs the lending funded by its own depositors?
◌ 2026 = the latest balance sheet, not a fiscal year-end
→AXP holds $152.5B of deposits in 2025, +302% since 2011. Deposits are a bank's cheapest funding, and depositors leaving is the first sign of real trouble.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
American ExpressAXPAre the people running it buying or selling?
→Insiders bought $4,054 and sold $42M on the open market, a net sale of $42M. A further 4 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30