American Express is a global financial institution, operating in about 130 countries, that provides consumers and businesses charge and credit card payment products. The company also operates a highly profitable merchant payment network.
It is a $208B financial services company. Revenue grew 10.7% over the last year, and it keeps 15¢ of every dollar of sales as profit. It trades at 18.2× earnings — around the middle of its own history.
- Website
- americanexpress.com
- Location
- New York, NY
- Employees
- 76 800
- Sector
- Financial Services
- Founded
- 1850
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Strong growth, profitability and quality; Health lags behind.
Valuation64
- P/E vs own history49th pct · 12/25
- FCF yield7.2% · 20/25
- P/S2.6x · 20/25
- EV/EBITDA22.8x · 12/25
Growth77
- Revenue CAGR14.3% · 20/25
- Net income CAGR7.7% · 12/25
- EPS CAGR ~5Y32.0% · 25/25
- Fwd implied growth16.0% · 20/25
Profitability77
- ROIC12.0% · 12/25
- ROE34.1% · 25/25
- Net margin15.1% · 20/25
- Operating margin18.2% · 20/25
Health40
- Altman Z0.79 · 3/25
- Current ratio0.26 · 0/25
- Interest coverage33.4x · 25/25
- Net cash / debtD/A 19% · 12/25
Quality85
- Piotroski F6/9 · 15/25
- Beneish M-2.52 · 25/25
- FCF conversion132% · 25/25
- Margin stabilityσ 5.2% · 20/25
Moat56
- ROIC >12% years3/5 yrs · 13/25
- Median gross marginn/a · 0/25
- FCF-positive years10/10 yrs · 25/25
- Worst-year net marginworst 8.2% · 18/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- FY2025FinancialBest year on record$10.8B net income
- FY2022FinancialRevenue crossed $50B$52.9B for the year
- 2021ProductThe company's first checking account for small businesses, Kabbage Checking, was launched
- FY2016FinancialProfitable every year on record10 consecutive profitable years in our data
- FY2016FinancialRevenue already above $10B$33.8B in first reported year
- FY2016FinancialPositive free cash flow every year since10-year streak
- 2008AcquisitionAmerican Express acquired the Corporate Payment Services business of General Electric
- Jun 30, 2006ProductThe first card from the partnership, the Bank of America Rewards American Express card, was released on June 30, 2006
- 1992IPOAmerican Express spun off First Data in an initial public offering
- 1987ProductAmerican Express introduced the Optima card, its first credit card product that did not have to be paid in…
- 1966ProductAmerican Express introduced the Gold Card for "big-spending members"
- 1958ProductIt developed its first paper charge card in 1958, gold card in 1966, green card in 1969, platinum card in 1984
- 1946ProductAmerican Express executives discussed the possibility of launching a travel charge card as early as 1946, but it was…
- 1891ProductBerry introduced the American Express Travelers Cheque which was launched in 1891 in denominations of $10, $20, $50
- 1850FoundedFounded in Buffalo in 1850, American Express opened its first headquarters in New York City at 10 Wall Street
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (60.6%)
- Revenue growing 10.7% year over year
- Strong cash conversion — FCF is 19.8% of revenue
- Could repay net debt from ~0.9 years of free cash flow
- Interest covered 33.4× by operating earnings
Watch-outs
- Altman Z-Score 0.79 — elevated financial-distress risk
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+10.7% YoY
- Profitable — makes more than it spends$11.4B TTM
- Profit growing — earnings are higher than last year+15.9% YoY
- Generates cash — cash left after running and investing$15.1B TTM
- Debt under control — could handle its obligations~3.8y of cash flow to repay
- Established company — not a micro-cap — lower blow-up risk$208B market cap
- Not printing shares — share count not ballooning — you keep your slice-13.6% shares over ~5y
- Proven track record — years of profitability behind it10/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.8 — distress
- Pays a dividend — returns cash to shareholdersyield 1.16%
- Valuation not extreme — price not wildly above earningsP/E 18.2
Peer comparisonAmerican Express Company vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| AXP this company | $208.3B | 18.2 | +10.7% | 15.1% | Mixed |
| BRK.A Berkshire Hathaway Inc. | $1.1T | 11.6 | +3.9% | 22.3% | Mixed |
| BRK.B Berkshire Hathaway | $1.1T | 11.6 | +0.0% | 18.0% | Strong |
| JPM JPMorgan Chase & Co. | $886.2B | 13.6 | +13.5% | 32.6% | Strained |
| V VISA Inc. | $723.9B | 31.9 | +14.4% | 50.8% | Solid |
| MA Mastercard Incorporated | $516.4B | 31.7 | +16.0% | 46.3% | Mixed |
| BAC Bank of America Corporation | $380.4B | 11.3 | +15.9% | 27.8% | Mixed |
Head-to-head: AXP vs BRK.A · AXP vs BRK.B · AXP vs JPM
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/AXP
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of AXP on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $308.48 · market cap $208B.