30 years of historical data (1995–2024) · Financial Services · Financial - Credit Services
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
American Express Company trades at 22.0x earnings, 9% above its 5-year average of 20.3x, sitting at the 80th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.8x, the stock trades at a premium of 60%. On a free-cash-flow basis, the stock trades at 17.5x P/FCF, 35% above the 5-year average of 13.0x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $212.8B | $211.6B | $137.9B | $111.1B | $129.2B | $97.5B | $103.3B | $81.9B | $88.0B | $69.3B | $69.8B |
| Enterprise Value | $223.4B | $222.1B | $140.5B | $121.5B | $148.6B | $109.5B | $143.3B | $116.0B | $114.2B | $96.7B | $99.9B |
| P/E Ratio → | 22.03 | 21.17 | 16.71 | 15.02 | 16.33 | 32.07 | 15.58 | 11.83 | 33.44 | 13.11 | 13.77 |
| P/S Ratio | 2.87 | 2.85 | 2.05 | 2.00 | 2.91 | 2.54 | 2.19 | 1.89 | 2.26 | 1.81 | 2.03 |
| P/B Ratio | 7.28 | 6.99 | 4.91 | 4.50 | 5.83 | 4.24 | 4.48 | 3.67 | 4.82 | 3.38 | 3.37 |
| P/FCF | 17.53 | 17.43 | 8.11 | 5.78 | 9.87 | 23.69 | 8.62 | 10.75 | 7.05 | 10.11 | 7.24 |
| P/OCF | 15.15 | 15.06 | 7.43 | 5.27 | 8.83 | 17.43 | 7.58 | 9.17 | 6.50 | 8.42 | 6.36 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
American Express Company's enterprise value stands at 15.3x EBITDA, 12% above its 5-year average of 13.7x. The Financial Services sector median is 11.1x, placing the stock at a 38% premium on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.99 | 2.09 | 2.18 | 3.35 | 2.86 | 3.04 | 2.68 | 2.93 | 2.52 | 2.91 |
| EV / EBITDA | 15.33 | 15.25 | 11.55 | 10.84 | 12.00 | 18.75 | 14.90 | 12.32 | 13.06 | 10.59 | 11.12 |
| EV / EBIT | 17.32 | 17.23 | 13.37 | 12.68 | 13.91 | 25.48 | 17.00 | 14.28 | 15.38 | 12.03 | 12.59 |
| EV / FCF | — | 18.30 | 8.27 | 6.32 | 11.35 | 26.61 | 11.96 | 15.23 | 9.15 | 14.13 | 10.37 |
Margins and return-on-capital ratios measuring operating efficiency
American Express Company earns an operating margin of 17.4%, below the Financial Services sector average of 21.9%. Return on equity of 34.7% is exceptionally high — well above the sector median of 9.1%. ROIC of 12.2% represents solid returns on invested capital versus a sector median of 5.4%.
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.9% | 81.9% | 82.5% | 91.1% | 100.3% | 82.2% | 85.1% | 85.4% | 87.5% | 86.6% | 89.5% |
| Operating Margin | 17.4% | 17.4% | 15.6% | 17.2% | 24.1% | 11.2% | 17.9% | 18.8% | 19.0% | 21.0% | 23.1% |
| Net Profit Margin | 13.7% | 13.7% | 12.4% | 13.5% | 18.1% | 8.2% | 14.4% | 16.0% | 7.0% | 14.0% | 15.0% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.7% | 34.7% | 31.7% | 32.1% | 35.7% | 13.6% | 29.8% | 34.1% | 14.2% | 26.1% | 25.0% |
| ROA | 3.8% | 3.8% | 3.4% | 3.6% | 4.2% | 1.6% | 3.5% | 3.7% | 1.6% | 3.4% | 3.2% |
| ROIC | 12.2% | 12.2% | 10.8% | 10.9% | 12.2% | 4.2% | 7.4% | 7.6% | 7.4% | 8.2% | 7.6% |
| ROCE | 11.2% | 11.2% | 9.6% | 10.0% | 11.8% | 4.4% | 8.2% | 8.3% | 8.3% | 9.5% | 8.9% |
Solvency and debt-coverage ratios — lower is generally safer
American Express Company carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (15% below the sector average of 4.1x). Net debt stands at $10.5B ($51.1B total debt minus $40.6B cash). Interest coverage of just 1.6x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.69 | 1.69 | 1.75 | 1.78 | 1.85 | 1.95 | 2.79 | 2.76 | 3.24 | 2.56 | 2.56 |
| Debt / EBITDA | 3.51 | 3.51 | 4.04 | 3.92 | 3.30 | 7.68 | 6.68 | 6.53 | 6.76 | 5.75 | 5.89 |
| Net Debt / Equity | — | 0.35 | 0.09 | 0.42 | 0.87 | 0.52 | 1.73 | 1.53 | 1.43 | 1.34 | 1.46 |
| Net Debt / EBITDA | 0.72 | 0.72 | 0.22 | 0.93 | 1.57 | 2.06 | 4.16 | 3.63 | 3.00 | 3.01 | 3.36 |
| Debt / FCF | — | 0.87 | 0.15 | 0.54 | 1.48 | 2.92 | 3.34 | 4.48 | 2.10 | 4.01 | 3.13 |
| Interest Coverage | 1.56 | 1.56 | 1.53 | 3.47 | 8.33 | 2.05 | 2.43 | 2.76 | 3.52 | 4.72 | 4.89 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.26x is below 1.0, meaning current liabilities exceed current assets — though the company's $40.6B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.26 | 0.26 | 0.33 | 0.31 | 0.27 | 0.58 | 0.95 | 1.02 | 0.46 | 0.44 | 0.35 |
| Quick Ratio | 0.26 | 0.26 | 0.33 | 0.31 | 0.27 | 0.58 | 0.95 | 1.02 | 0.46 | 0.44 | 0.35 |
| Cash Ratio | 0.26 | 0.26 | 0.32 | 0.27 | 0.22 | 0.33 | 0.26 | 0.32 | 0.38 | 0.34 | 0.29 |
| Asset Turnover | — | 0.27 | 0.26 | 0.24 | 0.24 | 0.20 | 0.24 | 0.23 | 0.22 | 0.24 | 0.21 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
American Express Company returns 3.7% to shareholders annually — split between a 0.9% dividend yield and 2.8% buyback yield. The payout ratio of 19.7% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 0.9% | 1.3% | 1.4% | 1.1% | 1.5% | 1.4% | 1.6% | 1.4% | 1.7% | 1.7% |
| Payout Ratio | 19.7% | 19.7% | 21.3% | 20.8% | 18.0% | 47.0% | 21.0% | 19.1% | 45.5% | 22.5% | 22.7% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 4.7% | 6.0% | 6.7% | 6.1% | 3.1% | 6.4% | 8.5% | 3.0% | 7.6% | 7.3% |
| FCF Yield | 5.7% | 5.7% | 12.3% | 17.3% | 10.1% | 4.2% | 11.6% | 9.3% | 14.2% | 9.9% | 13.8% |
| Buyback Yield | 2.8% | 2.8% | 2.6% | 3.2% | 7.2% | 1.1% | 4.5% | 2.1% | 5.0% | 6.5% | 6.6% |
| Total Shareholder Yield | 3.7% | 3.8% | 3.9% | 4.6% | 8.3% | 2.6% | 5.9% | 3.7% | 6.4% | 8.2% | 8.2% |
| Shares Outstanding | — | $713M | $736M | $752M | $790M | $806M | $830M | $859M | $886M | $935M | $1.0B |
Compare AXP with 7 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| AXPYou | $213B | 22.0 | 15.3 | 17.5 | 81.9% | 17.4% | 34.7% | 12.2% | 3.5 |
| MA | $458B | 31.3 | 22.7 | 26.7 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
| PYPL | $43B | 8.5 | 5.9 | 7.6 | 47.0% | 19.7% | 25.7% | 16.3% | 1.3 |
| WU | $3B | 6.3 | 1.9 | 7.7 | 28.7% | 19.4% | 51.9% | 23.3% | — |
| V | $3B | 31.4 | 0.3 | 0.1 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
| GDOT | $641M | -23.1 | -10.7 | 90.3 | 33.6% | -0.1% | -3.1% | -0.1% | 0.7 |
| CURR | $160M | -2.0 | — | 55.7 | 31.4% | -59.0% | — | — | — |
| PMTS | $140M | 7.5 | 5.0 | 4.1 | 35.6% | 13.1% | — | 19.9% | 3.7 |
| Financial Services Median | — | 13.8 | 11.1 | 11.2 | 60.2% | 21.9% | 9.1% | 5.4% | 4.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonAmerican Express Company's current P/E ratio is 22.0x. The historical average is 18.3x. This places it at the 80th percentile of its historical range.
American Express Company's current EV/EBITDA is 15.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.1x.
American Express Company's return on equity (ROE) is 34.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 25.5%.
Based on historical data, American Express Company is trading at a P/E of 22.0x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
American Express Company's current dividend yield is 0.91% with a payout ratio of 19.7%.
American Express Company has 81.9% gross margin and 17.4% operating margin. Operating margin between 10-20% is typical for established companies.
American Express Company's Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.