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American Express Company
NYSE: AXP Financials IT 🔎 Screen
Dow 30 S&P 500
🏹 Trader: 🎯 Near 52W High 💎 VCP Breakout View all →
$225.7B
Market Cap
24.1
P/E
1.81
PEG
11.7%
ROCE
34.0%
ROE
1.91
D/E
20.4%
OPM
-15.0%
% from 52W High
43
α RS
🔍 AXP is showing a high-conviction setup because it matches 8 of 39 tracked screener presets, Sector RRG has Technology in the Leading quadrant with the trail still rolling over, and it's within 15% of its 52-week high. Net: Broad signal stack, not a recommendation. ? Conviction RRG 52W High
Sources
Conviction 8/39 · Technology in Leading quadrant · 15% from 52W high
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🌏 Global Investor Returns
Currency-adjusted total returns for AXP including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

American Express Company, together with its subsidiaries, operates as an integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services. The company offers credit and charge cards and complementary products and services, including travel, dining, and lifestyle and expense management products and services; and banking and other payment and financing products and services, including deposits and non-card lending. It also provides merchant acquisition and processing, servicing and settlement, fraud prevention, and point-of-sale marketing and information products and services, as well as network services. The company offers its products and services to consumers, small businesses, mid-sized companies, and large corporations through mobile and online applications, affiliate marketing, customer referral programs, third-party service providers and business partners, in-house sales teams, direct mail, telephone, and direct response advertising. American Express Company was founded in 1850 and is headquartered in New York, New York.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding AXP
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Manager Shares Value % of Fund Period
Warren Buffett Berkshire Hathaway Inc 149.06M $45.1B 17.14% Mar 2026
Warren Buffett Berkshire Hathaway Inc 1.40M $423.4M 0.16% Mar 2026
Warren Buffett Berkshire Hathaway Inc 1.15M $347.8M 0.13% Mar 2026
Jim Simons Renaissance Technologies LLC 550.9K $166.6M 0.26% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Revenue
$19.6B
+10% YoY
Pre-tax Income
$4.1B
+15% YoY
Pre-tax Margin
20.7%
+0.9pp YoY
Net Income
$3.1B
+8% YoY
EPS
$4.53
+11% YoY
What Went Right
  • Revenue grew 10% to $19.6B and Card Member spending rose 9% FX-adjusted, the strongest growth in three years.
  • Net card fees grew 15.4% — the fastest-growing revenue line — and the Platinum portfolio is now the fastest-growing in U.S. Consumer.
  • Credit remained excellent: net write-off rate flat at 2.0%, reserve release of $191M, and CCAR showed the lowest projected card loss rate among banks.
What to Watch
  • EPS guidance was maintained at $17.30-$17.90 despite the revenue guidance raise because management is reinvesting the outperformance in growth initiatives.
  • The sale of two small business co-brand portfolios will create a ~1pp revenue headwind from Q4, with a ~2.5pp NII drag until lapped.
  • VCE ratio is now expected at 44%-45%, above original expectations, driven by stronger Card Member spending and higher airline rewards activity.
Management Guidance
  • FY2026 revenue growth guidance raised to 10%.
  • FY2026 EPS guidance maintained at $17.30-$17.90.
  • H2 marketing expected up ~10% YoY; OpEx growth in mid single digits for full year.
  • VCE ratio expected between 44% and 45% for full year.
  • Card fees expected to exit the year in high teens; credit metrics expected generally stable.
Investor Lens
The call reinforces the investment thesis: Amex is compounding at double-digit revenue and mid-teens EPS growth while the portfolio mix shifts toward premium, younger customers. The deliberate choice to reinvest incremental revenue upside rather than raise EPS may initially disappoint, but it is consistent with the proven Platinum refresh playbook and should extend the growth runway. Credit remains a clear competitive advantage, as demonstrated by the Fed CCAR results. Overall, the thesis is stronger after the call, with the main watch item being the temporary co-brand portfolio-sale headwinds.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Q2 revenue +10% to $19.6B; EPS $4.53; guidance raised to 10%.
Revenue
Consolidated revenue net of interest expense was $19.6B, up 10% (also 10% FX-adjusted), with billed business up 9.4% FX-adjusted. U.S. consumer spending grew 11%, international spending grew 12% FX-adjusted, and commercial spending grew 5%. Net card fees rose 15.4%, the fastest-growing revenue line.
Profitability
Net income was $3.1B, up 8% YoY, and EPS rose 11% to $4.53. Pre-tax income grew 15% to $4.1B, with net income growth tempered by prior-year tax discretes.
Margins
Pre-tax margin approximated 20.7%, up ~0.9pp YoY. Total expenses rose 12% to $14.5B, driven by VCE at 44.6% of revenue due to the Platinum refresh and stronger spend; marketing and OpEx each grew 6% in the quarter.
Balance Sheet
Total card balances grew 9% FX-adjusted, in line with billed business. U.S. deposit balances were up 9% YoY, with ~10% of U.S. Card Members holding a deposit account. The company returned $2.9B of capital, including $0.6B of dividends and $2.2B of buybacks, while ROE was 36%.
Key Risks
Co-brand portfolio transfers are expected to create a ~1pp revenue headwind from Q4 and a ~2.5pp NII drag until lapped; EPS guidance is unchanged due to deliberate reinvestment, not deterioration. Management noted geopolitical impacts on Middle East travel and gas spend but saw no evidence of a broad macro slowdown. The VCE ratio is running slightly above original expectations at 44%-45%.
Outlook
FY2026 revenue growth guidance was raised to 10%, while EPS guidance was maintained at $17.30-$17.90. H2 marketing is expected up ~10%, OpEx growth is expected in mid single digits, and card fees are expected to exit the year in high teens.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-24
Q2 delivered 10% revenue and 11% EPS growth, driven by premium product momentum and strong credit performance. Full-year revenue guidance was raised to 10%, with continued investment in customer acquisition and technology, while maintaining robust shareholder returns.
Q1 2026 Q1 2026 2026-04-23
Q1 2026 saw 11% revenue growth and 18% EPS growth, driven by strong premium product demand, robust international and retail spending, and best-in-class credit performance. Full-year guidance for 9%-10% revenue growth and $17.30-$17.90 EPS was reaffirmed, with increased investments in marketing and technology.
Q4 2025 Q4 2025 2026-01-30
Record revenue and EPS growth driven by strong premium card demand, robust credit quality, and disciplined investment in technology and marketing. 2026 guidance targets 9%-10% revenue growth and higher dividends, with continued focus on premium and international expansion.
Q3 2025 Q3 2025 2025-10-17
Q3 saw record revenue and EPS growth, driven by strong retail and travel spend, robust premium card demand, and a successful Platinum Card refresh. Credit metrics remain excellent, and full-year guidance was raised, with continued investment in premium products and digital capabilities.
Q2 2025 Q2 2025 2025-07-18
Record Q2 revenue and EPS growth driven by premium card momentum, strong credit metrics, and robust international expansion. Full-year guidance reaffirmed, with Platinum refresh and digital currency initiatives poised to support future growth.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

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Information Sources:
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