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AMERICAN EXPRESS COAXP

Sector
Other
Industry
Finance Services
Exchange
NYSE

Stock Price $AXP

Latest filings

You are here#10 of 58 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K275

AXP filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 275 current reports (8-K) between 2016 and 2026.

  1. FY2018 annual report10-K · Feb ’19Feb ’19
  2. Leadership change8-K · Apr ’21Apr ’21
  3. Leadership change8-K · Sep ’25Sep ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  13. $41.30B
YoY changeLargest recent move+26.1%in FY21Latest +6.4%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All AXP Financial Metrics48 metrics

Income Statement10

Balance Sheet19

Cash Flow14

Per Share5

02—Overview

AMERICAN EXPRESS CO Financial Overview 2021–2025

Updated Jul 10, 2026

American Express expanded its net card fees by 18% in FY2025, proving the deep pricing power embedded in its membership model. This aggressive fee expansion anchors the central investment thesis: the company operates less like a traditional credit issuer and more like a high-retention lifestyle brand capable of monetizing premium consumers across economic cycles. The business demonstrated this structural resilience as total revenues net of interest expense climbed 10% year-over-year to $72.2 billiona in FY2025.

The company's fundamental momentum reveals a sustained multi-year expansion. Diluted earnings per share surged from $10.02 in FY2021 to $15.38b by the end of FY2025, driven by compounding cardholder acquisition and disciplined capital allocation. After acquiring a record 13 million proprietary new cards in FY2024, American Express pushed total billed business up 8% to $1.67 trillion in FY2025. The underlying credit profile remained tight with stable write-off rates, allowing the business to confidently return $7.6 billion to shareholders via dividends and share repurchases during the year.

Public markets have clearly rewarded this specific customer base and spending velocity. At the close of FY2025, the market capitalized the business at $253.8 billionc, with the stock finishing the year at $369.95. This translated to a 24.1x P/E ratio, reflecting high market conviction in the company’s ability to capture an outsized share of global travel, entertainment, and commercial spending.

Recent Developments (Q4 2025 and Q1 2026)

In Q1 2026, American Express accelerated its operational momentum, generating $18.9 billiond in revenue net of interest expense, representing an 11% year-over-year increase. This expansion was driven by a 10% jump in total billed business to $428.0 billion, propelling net income up 15% to $3.0 billion. Strategically, the company announced the sale of its equity stake in Global Business Travel Group for $1.5 billion, realizing a $975 million pre-tax gain outside previous guidance. Management also unveiled plans to build a 1.95 million square foot headquarters at 2 World Trade Center, slated for completion in 2031.

Bulls point to the 16% dividend increase to $0.95e per share as proof of highly resilient cash flows. Conversely, bears warn that Q1 2026 provisions for credit losses rose 9%, signaling early credit normalization. Trading at 20.7x earnings as of the April 23, 2026 reporting date, the stock appears reasonably valued relative to its sustained double-digit bottom-line growth.

What to watch: deployment of the $975 million pre-tax gain; early softening in airline spending categories.

03—Filings

Recent SEC Filings

  1. 8-KAMERICAN EXPRESS CO 8-K Report, Regulation FD Disclosure (Oct 8, 2026)American Express Company (AXP) announced on October 8, 2026, that it and its subsidiary, American Express Travel Related Services Company, Inc., have consented to orders from the Board of Governors of the Federal Reserve System. Concurrently, American Express National Bank (AENB) consented to an order from the Office of the Comptroller of the Currency (OCC). These orders resolve previously disclosed regulatory reviews concerning the Company's financial crimes compliance program. Importantly for investors, AENB has agreed to pay a $350 million civil money penalty to the OCC. The company notes that a portion of this penalty was already reserved in prior periods, and it will not impact the previously issued full-year 2026 guidance. Furthermore, the consent orders do not impose an asset cap, and the anticipated costs to address the requirements are not expected to affect the Company's 2027 guidance. The company also includes standard cautionary language regarding forward-looking statements.
  2. 8-KAMERICAN EXPRESS CO 8-K Report, Regulation FD Disclosure (Sep 15, 2026)American Express Company (AXP) has filed an 8-K report on September 15, 2026, providing updated delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business card portfolios, as well as for the American Express Credit Account Master Trust, for the months ending August 31, July 31, and June 30, 2026. These disclosures are furnished under Regulation FD and offer investors a look into the credit quality of AXP's loan portfolios, excluding balances held for sale. The data provides key metrics such as 30-day past due percentages and net write-off rates, offering insights into potential credit losses and the company's risk management effectiveness. Overall, the reported statistics for both the U.S. Consumer and U.S. Small Business portfolios indicate a stable credit environment for the period. While the net write-off rate for the U.S. Consumer portfolio remained steady, the U.S. Small Business portfolio saw a slight increase in write-offs in July, followed by a decrease in August. The Lending Trust data also shows a generally consistent performance in default rates. Investors should note the impact of a one-time sale of previously written-off balances in June 2026, which affected the reported write-off and default rates for that month.
  3. 8-KAMERICAN EXPRESS CO 8-K Report, Regulation FD Disclosure (Aug 17, 2026)This 8-K filing from American Express provides updated delinquency and write-off statistics for its U.S. Consumer and U.S. Small Business card portfolios for the months ending May 31, June 30, and July 31, 2026. The data pertains to card balances held for investment and excludes those held for sale. For investors, the key takeaways revolve around the stability of delinquency rates and the fluctuations in net write-off rates, which were impacted by a specific sale of written-off balances in June 2026. Overall, the reported figures suggest a relatively stable credit performance across the consumer and small business segments. While the net write-off rate saw a dip in June due to the sale of charged-off balances, the underlying trend in both delinquency and write-offs appears manageable. Investors should monitor these metrics for any sustained deviations, as they are critical indicators of the company's credit risk and the health of its lending portfolio.
  4. 8-KAMERICAN EXPRESS CO 8-K Report, Rights Modification (Aug 12, 2026)American Express Company (AXP) has filed an 8-K detailing significant changes in its preferred stock structure. On August 12, 2026, the company issued 1,600,000 Depositary Shares representing interests in its new 6.450% Fixed Rate Reset Noncumulative Preferred Shares, Series E. This issuance, totaling $1,600,000,000 assuming a $1,000,000 per share liquidation preference for the Series E Preferred Shares, adds to the company's capital structure and comes with specific dividend and redemption terms. Investors should note that the terms of the Series E Preferred Shares impose restrictions on dividend payments or redemptions of common stock and other parity preferred shares if the Series E dividends are not fully met.
  5. 8-KAMERICAN EXPRESS CO 8-K Report, Corporate Update (Aug 5, 2026)American Express Company (AXP) announced on August 5, 2026, the launch of a proposed public offering for new Series E Fixed Rate Reset Noncumulative Preferred Shares. Each depositary share represents a 1/1,000th interest in these preferred shares. The primary stated purpose for the net proceeds from this offering is to fund the potential partial or full redemption of its existing Series D Preferred Shares, which carry a 3.550% fixed rate reset coupon.
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04—See also

Related Companies

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