American Express Company (AXP) Financial Statements

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American Express financial statements at a glance

American Express reported revenue of $72.23 billion for fiscal year 2025 (ended December 31, 2025), up 9.5% from fiscal year 2024. Net income was $10.70 billion, a net margin of 14.8%, and diluted earnings per share were $15.38.

At the end of fiscal year 2025 it had total assets of $300.05 billion, total liabilities of $266.58 billion and shareholders' equity of $33.47 billion, with cash of $47.71 billion and total debt of $57.76 billion.

Its operations brought in $18.43 billion of cash; capital spending was $2.43 billion, leaving free cash flow of $16.00 billion.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

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American Express Company

AXPUnited States
Financial Services
USD (Local)

Income Statement

Annual • USD

Total Revenue
72.23B
Prev Year: 65.95B
YoY: +9.5%
Net Interest Income
17.36B
Prev Year: 15.54B
YoY: +11.7%
Interest Income
25.60B
Prev Year: 23.80B
YoY: +7.6%
Interest Expense
8.23B
Prev Year: 8.25B
YoY: -0.2%
Provision for Credit Losses
-
Prev Year: -5.18B
Professional and Contract Services Expense
2.42B
Prev Year: 2.27B
YoY: +6.6%
Selling General and Administrative
15.27B
Prev Year: 14.24B
YoY: +7.2%
General and Administrative Expense
9.02B
Prev Year: 8.20B
YoY: +10.0%
Salaries and Wages
9.02B
Prev Year: 8.20B
YoY: +10.0%
Selling and Marketing Expense
6.25B
Prev Year: 6.04B
YoY: +3.5%
Other Noninterest Expense
32.40B
Prev Year: 31.77B
YoY: +2.0%
Special Income Charges
-96.00M
Prev Year: 408.00M
YoY: -123.5%
Non Interest Expense
-
Prev Year: 48.28B
Restructuring and Mergers Acquisition
96.00M
Prev Year: 123.00M
YoY: -22.0%
Pre-tax Income
13.79B
Prev Year: 12.89B
YoY: +7.0%
Income from Associates and Other Participating Interests
-
Provision for Income Taxes
2.96B
Prev Year: 2.77B
YoY: +7.1%
Net Income Common Stockholders
10.70B
Prev Year: 9.99B
YoY: +7.1%
Net Income
10.83B
Prev Year: 10.13B
YoY: +7.0%
Net Income Including Non-Controlling Interests
10.83B
Prev Year: 10.13B
YoY: +7.0%
Net Income from Continuing Operations
10.83B
Prev Year: 10.13B
YoY: +7.0%
Preferred Stock Dividends
58.00M
Prev Year: 58.00M
YoY: 0.0%
Diluted NI Available to Com Stockholders
10.70B
Prev Year: 9.99B
YoY: +7.1%
Net Income from Continuing and Discontinued Operation
10.83B
Prev Year: 10.13B
YoY: +7.0%
Normalized Income
10.91B
Prev Year: 9.81B
YoY: +11.2%
Interest Income After Provision for Loan Loss
-
Prev Year: 10.36B
Reconciled Depreciation
1.78B
Prev Year: 1.68B
YoY: +6.0%
Net Income from Continuing Operation Net Minority Interest
10.83B
Prev Year: 10.13B
YoY: +7.0%
Total Unusual Items Excluding Goodwill
-96.00M
Prev Year: 408.00M
YoY: -123.5%
Total Money Market Investments
-
Prev Year: 2.61B
Total Unusual Items
-96.00M
Prev Year: 408.00M
YoY: -123.5%
Tax Rate for Calcs
0.215
Prev Year: 0
Tax Effect of Unusual Items
-20.61M
Prev Year: 87.72M
YoY: -123.5%
Weighted Average Shares (diluted)
696.00M
Weighted Average Shares (basic)
695.00M
Diluted EPS
15.38
Basic EPS
15.41
Otherunder Preferred Stock Dividend
74.00M
Operating Revenue
72.23B
Occupancy And Equipment
2.99B
Values in USD

American Express key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$72.2B65.9B CAD60.5B CAD52.9B CAD43.1B CAD
Net income$10.7B10.0B CAD8.3B CAD7.4B CAD7.9B CAD
Diluted EPS$15.38–0.73 CAD0.64 CAD0.65 CAD
Total assets$300.1B271.5B CAD261.1B CAD228.4B CAD188.5B CAD
Total liabilities$266.6B241.2B CAD233.1B CAD203.6B CAD166.4B CAD
Shareholders' equity$33.5B30.3B CAD28.1B CAD24.7B CAD22.2B CAD
Cash$47.7B40.6B CAD46.5B CAD33.5B CAD21.5B CAD
Total debt$57.8B51.1B CAD49.2B CAD43.9B CAD40.9B CAD
Operating cash flow$18.4B14.1B CAD18.6B CAD21.1B CAD14.6B CAD
Capital spending$2.4B1.9B CAD1.6B CAD1.9B CAD1.6B CAD
Free cash flow$16.0B12.1B CAD17.0B CAD19.2B CAD13.1B CAD

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2014.

Questions and answers

What was American Express's revenue in fiscal year 2025?

$72.23 billion, up 9.5% from $65.95 billion in fiscal year 2024.

How much profit does American Express make?

American Express reported net income of $10.70 billion for fiscal year 2025 (14.8% of revenue).

How much cash and debt does American Express have?

At the end of fiscal year 2025: cash of $47.71 billion and total debt of $57.76 billion.

What is American Express's free cash flow?

$16.00 billion in fiscal year 2025 (operating cash flow of $18.43 billion minus capital spending of $2.43 billion).

Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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