American Express Company (AXP) Fundamental Analysis
American Express Company is a financial institution whose performance is read through net interest income, fee revenue and return on equity rather than product margins. It is solidly profitable, earning a return on equity of 36%. Cash generation is healthy, funding the business from its own operations. On the latest filing the majority of indicators are constructive.
Beat Index assesses American Express Company across twenty analysis tabs, spanning market multiples, revenue and income, margins, cash flow, returns, liquidity and leverage, working capital, intrinsic value, commitments, insider activity, risk, and its latest 10-Q reads positively across revenue growth, profit margins, cash generation and balance-sheet strength. Every figure is taken as-reported from SEC EDGAR filings, with no vendor adjustments.
At a glance
- PositiveGrowth: Revenue up 9% YoY
- WatchNothing flagged to watch next quarter.
- ConcernNo red flags in the latest quarter.
Trend matrix, last 4 quarters
| Dimension | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 |
|---|---|---|---|---|
| Growth | Revenue up 9% YoY | Revenue up 10% YoY | Revenue up 11% YoY | Revenue up 10% YoY |
| Profitability | ROE 36% | ROE 34% | ROE 34% | ROE 34% |
| Cash Generation | Operating cash strong (22% of rev) | Operating cash strong (23% of rev) | Operating cash 14% of rev | Operating cash 12% of rev |
| Balance Sheet | ROTCE 34% | ROTCE 33% | ROTCE 33% | ROTCE 32% |
Quarterly financials
| Metric | 2026-09-30 | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|---|---|
| Revenue | $20.06B | $19.64B | $18.91B | $18.98B | $18.43B |
| Cash & equivalents | $43.20B | $45.24B | $53.76B | $47.79B | $54.71B |
| Net income | $3.71B | $3.11B | $2.97B | $2.46B | $2.90B |
| Operating cash flow | $5.38B | $5.37B | $3.80B | $3.07B | $6.23B |
| Free cash flow | $4.44B | $4.47B | $2.65B | $2.35B | $5.58B |
Figures in USD, as reported to the SEC. Longer history is available in the full analysis.
What's inside the full dashboard
Twenty analysis tabs. Every financial figure comes from SEC filings, with no estimates.
- Market Multiples: What buyers have actually paid for this business, week by week, against what they pay today.
- Cash Flow: Free cash flow generation and operating cash flow trends.
- Intrinsic Value: Discounted cash flow (DCF) valuation against your own discount rate.
- Priced In: The move the options market is pricing in, including around earnings, read from your own Alpaca account once connected.
- Liquidity & Leverage: Balance-sheet strength: assets, liabilities, debt and liquidity ratios.
- Margins: Gross, operating, and net profit margin analysis.
- Returns: Return on equity, return on assets, and return on invested capital.
- Revenue & Income: Revenue growth, composition, and year-over-year income trends.
- Working Capital: Working-capital efficiency, cash conversion and asset-turnover metrics.
- Risk: Debt levels, liquidity ratios, and financial risk indicators.
- Insider: Insider stock transactions and executive activity.
- Commitments: Operating leases, purchase commitments, and future obligations.
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Live valuation, management commentary, and peer comparison, all sourced directly from SEC filings. Free to access.