Revenue Growth Momentum
AXP grew total revenues by 6.4% year-over-year to $41.3B in FY2025, reflecting continued strength in card member spending and fee income, building on the prior year's $38.8B base.
Source: 10-K Income Statement, Financial Data
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
American Express delivered strong FY2025 results with revenue rising 6.4% to $41.3B and net income growing 7.0% to $10.8B, driven by robust operating cash flow of $18.4B and a 9.8% jump in diluted EPS to $15.38.
Revenue
$41.3B
+6.39% YoY
EPS (Diluted)
$15.38
+9.78% YoY
Source: SEC XBRL
American Express (AXP) reported FY2025 revenue of $41.3B, up 6.4% year over year. Operating cash flow was $18.43B, up 31.2% year over year.
Last 4 quarters: 3 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 4.53 | 4.45 | Beat +1.8% |
| Mar 2026 | 4.28 | 4.06 | Beat +5.3% |
| Dec 2025This filing | 3.53 | 3.57 | Miss -1.2% |
| Sep 2025 | 4.14 | 4.04 | Beat +2.6% |
Reported EPS of $3.53 versus the $3.57 analyst consensus — a -1.2% miss for Dec 2025.
Compiled by AI from this SEC filing
AXP grew total revenues by 6.4% year-over-year to $41.3B in FY2025, reflecting continued strength in card member spending and fee income, building on the prior year's $38.8B base.
Source: 10-K Income Statement, Financial Data
Net income increased 7.0% to $10.8B, with net margin improving to approximately 26.2%, demonstrating AXP's ability to grow earnings faster than costs and maintain premium profitability among financial services peers.
Source: 10-K Income Statement & Key Ratios, Financial Data
Operating cash flow surged 31.2% year-over-year to $18.4B, a significant acceleration that underscores the cash-generative nature of AXP's business model and its capacity to fund dividends, buybacks, and growth investments.
Source: 10-K Cash Flow Statement, Financial Data
AXP returned approximately $8.1B to shareholders in FY2025 through a combination of $5.8B in share buybacks and $2.3B in dividends, with dividends paid growing 13.6% year-over-year despite a modest 3.4% reduction in buyback volume.
Source: 10-K Cash Flow Statement, Financial Data
Total assets grew 10.5% to $300.1B, with long-term debt rising 13.4% to $56.4B, reflecting AXP's continued investment in its lending and card business, while stockholders' equity also expanded 10.6% to $33.5B.
Source: 10-K Balance Sheet, Financial Data
Compiled by AI from this SEC filing · 2 high, 2 medium, 1 low
AXP's debt-to-equity ratio stands at approximately 7.96x, which is characteristic of financial services companies but signals significant leverage. A deterioration in credit quality or a sharp rise in interest rates could pressure net interest margins and increase funding costs materially.
Source: 10-K Balance Sheet & Key Ratios, Financial Data
With total assets of $300.1B—largely composed of card receivables and loans—AXP is exposed to consumer credit risk. An economic slowdown or rise in unemployment could lead to higher delinquency and charge-off rates, directly impacting profitability.
Source: 10-K Balance Sheet, Financial Data
Long-term debt grew 13.4% to $56.4B in FY2025, outpacing revenue growth of 6.4%. Sustained debt accumulation at this pace could constrain financial flexibility and increase refinancing risk in a higher-for-longer interest rate environment.
Source: 10-K Balance Sheet, Financial Data
Investing cash outflows were -$22.9B in FY2025, reflecting continued heavy investment in the business. While slightly improved from -$24.4B in the prior year, sustained large outflows could limit free cash flow availability if operating cash generation moderates.
Source: 10-K Cash Flow Statement, Financial Data
AXP returned $8.1B to shareholders in FY2025 while also expanding its balance sheet significantly. If earnings growth slows or credit losses rise, maintaining the current pace of dividends and buybacks could become challenging without increasing leverage further.
Source: 10-K Cash Flow Statement, Financial Data
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 41.30 $B | 38.83 $B | +6.39% |
Net Income $B | 10.83 $B | 10.13 $B | +6.95% |
EPS (Basic) $ | 15.41 $ | 14.04 $ | +9.76% |
EPS (Diluted) $ | 15.38 $ | 14.01 $ | +9.78% |
Answers draw on this SEC filing and the data on this page
AXP reported Q2 FY2026 net income of $3.110B and diluted EPS of $4.53, supported by 9% billed-business growth, 10% growth in total revenues net of interest expense, lower credit-loss provisions, and continued investment in premium-card benefits. Source: 10-Q Item 2 MD&A, pp.2-6
American Express delivered a strong Q1 2026 with revenue of $10.5B (+9.3% YoY) and net income of $3.0B (+15.0% YoY), driven by robust card member spending and premium customer growth, though operating cash flow declined 20.2% YoY.
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