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AMERICAN EXPRESS CO AXP

NYSE · stock · Finance Services · website · IPO 1977-05-18 · LEI

AMERICAN EXPRESS CO statistics & valuation

Market cap$232.2B
P / E21.4×
P / S5.6×
P / B6.9×
P / FCF14.5×
Dividend yield0.98%
Net margin26.2%
Return on equity32.4%
FCF margin38.7%
Net debt$56.4B
Enterprise value USD$288.6B
Graham number -62.5%$129.01

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($129.01); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
22.20% 11.10% 26.00% 24.00% 14.30% 29.10% 22.00% 22.50% 26.10% 26.20% 2016201720182019202020212022202320242025
Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
26.20% 15.00% 31.00% 29.30% 13.60% 36.30% 30.40% 29.80% 33.50% 32.40% 2016201720182019202020212022202320242025
Shares outstanding
935.0M 886.0M 859.0M 830.0M 806.0M 790.0M 752.0M 736.0M 713.0M 696.0M 2016201720182019202020212022202320242025
Net debt ($)
$46.99B $55.80B $58.42B $57.84B $42.95B $17.17B $9.20B $47.87B $49.72B $56.39B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.40% 1.50% 3.70% 3.40% 1.60% 4.30% 3.30% 3.20% 3.70% 3.60% 2016201720182019202020212022202320242025
Free cash flow margin (%)
28.50% 50.40% 28.60% 42.60% 18.70% 47.20% 56.20% 45.70% 31.30% 38.70% 2016201720182019202020212022202320242025
Debt / equity (×)
2.29× 3.06× 2.62× 2.51× 1.87× 1.74× 1.72× 1.71× 1.64× 1.68× 2016201720182019202020212022202320242025
EPS ($)
$7.99 $3.77 $10.02 $9.85 $11.21 $14.01 $15.38 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AMERICAN EXPRESS CO trades at about 22.4× earnings — above its 10-year norm (10-year range 12.2×–30.8×, median 17.9×).

12.2× 30.8×

Shaded band = 10-year range (12.2×–30.8×); dot = today's 22.4×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Net margin26.2%26.1%22.5%22.0%29.1%14.3%24.0%26.0%11.1%22.2%
FCF margin38.7%31.3%45.7%56.2%47.2%18.7%42.6%28.6%50.4%28.5%
Return on assets3.6%3.7%3.2%3.3%4.3%1.6%3.4%3.7%1.5%3.4%
Return on equity32.4%33.5%29.8%30.4%36.3%13.6%29.3%31.0%15.0%26.2%
Debt / equity1.68×1.64×1.71×1.72×1.74×1.87×2.51×2.62×3.06×2.29×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.