American Express Company (AXP) Income Statement
AXP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsAXP revenue and net income
Where AXP's revenue goes
2025Each bar shows an amount and its share of revenue. AXP kept 13.5% of revenue as net income.
AXP profit margins
AXP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +8.4% | +13.1% | +16.0% | +8.9% |
| Gross profit | +10.2% | +9.7% | +16.3% | +8.1% |
| Operating income | +7.0% | +12.9% | +26.3% | +5.7% |
| Net income | +7.0% | +13.0% | +28.1% | +7.7% |
| EPS (diluted) | +9.9% | +16.1% | +32.6% | +11.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
AXP quarterly EPS vs estimates
American Express beat the analyst EPS estimate in 7 of the last 8 quarters. Next report: October 23, 2026 (estimate $4.47).
AXP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80.46B | $74.20B | $67.36B | $55.62B | $44.43B | $38.34B | $47.10B | $43.26B | $38.99B | $38.36B |
| Cost of revenue | $13.49B | $13.44B | $11.77B | $4.95B | −$136.0M | $6.83B | $7.04B | $6.29B | $4.87B | $3.73B |
| Gross profit | $66.97B | $60.76B | $55.59B | $50.68B | $44.57B | $31.51B | $40.06B | $36.96B | $34.12B | $33.23B |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $15.27B | $14.24B | $13.28B | $12.71B | $11.53B | $9.41B | $13.04B | $11.87B | $11.09B | $11.51B |
| Total operating expenses | $53.18B | $47.87B | $45.08B | $41.09B | $33.88B | $27.21B | $31.63B | $28.84B | $26.69B | $26.59B |
| Operating income | $13.79B | $12.89B | $10.51B | $9.59B | $10.69B | $4.30B | $8.43B | $8.12B | $7.42B | $8.04B |
| Interest income | $25.60B | $23.80B | $19.98B | $12.66B | $9.03B | $10.08B | $12.08B | $10.61B | $8.55B | $7.47B |
| Interest expense | $8.23B | $8.25B | $6.85B | $2.76B | $1.28B | $2.10B | $3.46B | $2.94B | $2.11B | $1.71B |
| Income before taxes | $13.79B | $12.89B | $10.51B | $9.59B | $10.69B | $4.30B | $8.43B | $8.12B | $7.42B | $8.04B |
| Income taxes | $2.96B | $2.77B | $2.14B | $2.07B | $2.63B | $1.16B | $1.67B | $1.20B | $4.68B | $2.67B |
| Net income | $10.83B | $10.13B | $8.37B | $7.51B | $8.06B | $3.13B | $6.76B | $6.92B | $2.75B | $5.38B |
| EBITDA | $15.57B | $14.57B | $12.16B | $11.21B | $12.38B | $5.84B | $9.62B | $9.41B | $8.75B | $9.14B |
| EPS (diluted) | $15.39 | $14.01 | $11.21 | $9.84 | $9.99 | $3.76 | $8.19 | $7.90 | $6.02 | $5.75 |
| Gross margin | 83.2% | 81.9% | 82.5% | 91.1% | 100.3% | 82.2% | 85.1% | 85.4% | 87.5% | 86.6% |
| Operating margin | 17.1% | 17.4% | 15.6% | 17.2% | 24.1% | 11.2% | 17.9% | 18.8% | 19.0% | 21.0% |
| Net margin | 13.5% | 13.7% | 12.4% | 13.5% | 18.1% | 8.2% | 14.4% | 16.0% | 7.0% | 14.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.59B | $20.88B | $21.04B | $20.56B | $19.93B | $18.93B | $19.22B | $18.78B | $18.40B | $17.81B | $17.74B | $17.18B |
| Cost of revenue | $3.04B | $3.22B | $3.47B | $3.42B | $3.48B | $3.12B | $3.33B | $3.50B | $3.33B | $3.27B | $3.38B | $3.03B |
| Gross profit | $18.55B | $17.66B | $17.57B | $17.14B | $16.45B | $15.82B | $15.89B | $15.28B | $15.06B | $14.53B | $14.36B | $14.15B |
| Sales, general & admin | $7.48B | $9.60B | $4.12B | $3.84B | $3.71B | $3.61B | $3.72B | $3.52B | $3.43B | $3.57B | $3.36B | $3.28B |
| Total operating expenses | $9.21B | $11.06B | $14.48B | $13.31B | $12.90B | $12.49B | $13.13B | $12.08B | $11.28B | $11.39B | $11.84B | $11.05B |
| Operating income | $9.34B | $6.60B | $3.09B | $3.83B | $3.55B | $3.33B | $2.76B | $3.20B | $3.79B | $3.15B | $2.51B | $3.10B |
| Interest income | $6.61B | $6.67B | $6.58B | $6.62B | $6.26B | $6.13B | $6.08B | $6.15B | $5.79B | $5.78B | $5.55B | $5.24B |
| Interest expense | $1.96B | $1.97B | $2.06B | $2.13B | $2.08B | $1.97B | $2.04B | $2.14B | $2.06B | $2.01B | $1.95B | $1.80B |
| Income before taxes | $4.07B | $3.78B | $3.09B | $3.83B | $3.55B | $3.33B | $2.76B | $3.20B | $3.79B | $3.15B | $2.51B | $3.10B |
| Income taxes | $961.0M | $807.0M | $628.0M | $923.0M | $665.0M | $746.0M | $586.0M | $697.0M | $775.0M | $708.0M | $579.0M | $649.0M |
| Net income | $3.11B | $2.97B | $2.46B | $2.90B | $2.88B | $2.58B | $2.17B | $2.51B | $3.02B | $2.44B | $1.93B | $2.45B |
| EBITDA | $9.83B | $7.07B | $3.55B | $4.28B | $3.98B | $3.76B | $3.18B | $3.64B | $4.21B | $3.54B | $2.93B | $3.53B |
| EPS (diluted) | $4.53 | $4.28 | $3.53 | $4.14 | $4.08 | $3.64 | $3.04 | $3.49 | $4.15 | $3.33 | $2.62 | $3.30 |
| Gross margin | 85.9% | 84.6% | 83.5% | 83.4% | 82.5% | 83.5% | 82.7% | 81.4% | 81.9% | 81.6% | 80.9% | 82.4% |
| Operating margin | 43.2% | 31.6% | 14.7% | 18.6% | 17.8% | 17.6% | 14.3% | 17.1% | 20.6% | 17.7% | 14.2% | 18.0% |
| Net margin | 14.4% | 14.2% | 11.7% | 14.1% | 14.5% | 13.6% | 11.3% | 13.4% | 16.4% | 13.7% | 10.9% | 14.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in AXP's financial statements (latest annual report filed February 6, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
AXP financial results
In fiscal year 2025 (ended December 31, 2025), American Express reported revenue of $80.5 billion, up 8.4% from the year before. It had net income of $10.8 billion (up 7.0%), a net profit margin of 13.5%. Diluted earnings per share came to $15.39. Over five years revenue grew at an average rate of 16.0% a year.
See the AXP stock overview for the latest quote and news, or the AXP chart for price history and technical indicators.
AXP income statement FAQ
What is American Express's annual revenue?
American Express reported total revenue of $80.5 billion for fiscal year 2025, which ended on December 31, 2025. That was up 8.4% from $74.2 billion the previous year.
Is American Express profitable?
Yes. American Express reported net income of $10.8 billion in fiscal 2025, a net profit margin of 13.5%; its operating margin was 17.1%.
What is American Express's gross margin?
American Express's gross margin was 83.2% in fiscal 2025: for every $100 of revenue, American Express kept $83 after the direct cost of its products and services.
How fast is American Express growing?
Revenue grew 16.0% a year on average over the last five fiscal years, from $38.3 billion to $80.5 billion.
What are American Express's earnings per share?
American Express earned $15.39 per diluted share in fiscal 2025, compared with $14.01 a year earlier.
When will American Express report its next earnings?
American Express is expected to report results for the quarter ending September 30, 2026 on October 23, 2026 before the market opens.
When does American Express's fiscal year end?
American Express's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 6, 2026.