American Express Company (AXP) Financial Ratios
30 years of historical data (1996–2025) · Financial Services · Financial - Credit Services
EV/EBITDA
↑
14.68
+10% vs avg
5yr avg: 13.36
30Y Low10.6·High28.0
P/FCF
↑
13.66
+19% vs avg
5yr avg: 11.46
30Y Low2.8·High36.5
P/B Ratio
↑
6.63
+11% vs avg
5yr avg: 5.98
30Y Low1.8·High7.7
ROE
↓
34.0%
↓+1% vs avg
5yr avg: 33.6%
30Y Low11%·High37%
Debt/EBITDA
↑
3.71
+0% vs avg
5yr avg: 3.70
30Y Low3.3·High16.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AXP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
American Express Company trades at 20.7x earnings, 11% above its 5-year average of 18.7x, sitting at the 73rd percentile of its historical range. Compared to the Financial Services sector median P/E of 13.1x, the stock trades at a premium of 58%. On a free-cash-flow basis, the stock trades at 13.7x P/FCF, 19% above the 5-year average of 11.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $218.6B | $257.5B | $211.6B | $137.9B | $111.1B | $129.2B | $97.5B | $103.3B | $81.9B | $88.0B | $69.3B |
| Enterprise Value | $228.6B | $267.5B | $222.1B | $140.5B | $121.5B | $148.6B | $109.5B | $143.3B | $116.0B | $114.2B | $96.7B |
| P/E Ratio → | 20.72 | 24.05 | 21.17 | 16.71 | 15.02 | 16.33 | 32.07 | 15.58 | 11.83 | 33.44 | 13.11 |
| P/S Ratio | 2.72 | 3.20 | 2.85 | 2.05 | 2.00 | 2.91 | 2.54 | 2.19 | 1.89 | 2.26 | 1.81 |
| P/B Ratio | 6.63 | 7.69 | 6.99 | 4.91 | 4.50 | 5.83 | 4.24 | 4.48 | 3.67 | 4.82 | 3.38 |
| P/FCF | 13.66 | 16.09 | 17.43 | 8.11 | 5.78 | 9.87 | 23.69 | 8.62 | 10.75 | 7.05 | 10.11 |
| P/OCF | 11.86 | 13.97 | 15.06 | 7.43 | 5.27 | 8.83 | 17.43 | 7.58 | 9.17 | 6.50 | 8.42 |
P/E links to full P/E history page with 30-year chart
AXP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
American Express Company's enterprise value stands at 14.7x EBITDA, 10% above its 5-year average of 13.4x. The Financial Services sector median is 11.5x, placing the stock at a 28% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.32 | 2.99 | 2.09 | 2.18 | 3.35 | 2.86 | 3.04 | 2.68 | 2.93 | 2.52 |
| EV / EBITDA | 14.68 | 17.18 | 15.25 | 11.55 | 10.84 | 12.00 | 18.75 | 14.90 | 12.32 | 13.06 | 10.59 |
| EV / EBIT | 16.57 | 19.39 | 17.23 | 13.37 | 12.68 | 13.91 | 25.48 | 17.00 | 14.28 | 15.38 | 12.03 |
| EV / FCF | — | 16.72 | 18.30 | 8.27 | 6.32 | 11.35 | 26.61 | 11.96 | 15.23 | 9.15 | 14.13 |
AXP Profitability
Margins and return-on-capital ratios measuring operating efficiency
American Express Company earns an operating margin of 17.1%, below the Financial Services sector average of 21.6%. Operating margins have expanded from 15.6% to 17.1% over the past 3 years, signaling improving operational efficiency. Return on equity of 34.0% is exceptionally high — well above the sector median of 9.4%. ROIC of 12.0% represents solid returns on invested capital versus a sector median of 5.7%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.2% | 83.2% | 81.9% | 82.5% | 91.1% | 100.3% | 82.2% | 85.1% | 85.4% | 87.5% | 86.6% |
| Operating Margin | 17.1% | 17.1% | 17.4% | 15.6% | 17.2% | 24.1% | 11.2% | 17.9% | 18.8% | 19.0% | 21.0% |
| Net Profit Margin | 13.5% | 13.5% | 13.7% | 12.4% | 13.5% | 18.1% | 8.2% | 14.4% | 16.0% | 7.0% | 14.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.0% | 34.0% | 34.7% | 31.7% | 32.1% | 35.7% | 13.6% | 29.8% | 34.1% | 14.2% | 26.1% |
| ROA | 3.8% | 3.8% | 3.8% | 3.4% | 3.6% | 4.2% | 1.6% | 3.5% | 3.7% | 1.6% | 3.4% |
| ROIC | 12.0% | 12.0% | 12.2% | 10.8% | 10.9% | 12.2% | 4.2% | 7.4% | 7.6% | 7.4% | 8.2% |
| ROCE | 11.3% | 11.3% | 11.2% | 9.6% | 10.0% | 11.8% | 4.4% | 8.2% | 8.3% | 8.3% | 9.5% |
AXP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
American Express Company carries a Debt/EBITDA ratio of 3.7x, which is moderately leveraged (10% below the sector average of 4.1x). Net debt stands at $10.1B ($57.8B total debt minus $47.7B cash). Interest coverage of just 1.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.73 | 1.73 | 1.69 | 1.75 | 1.78 | 1.85 | 1.95 | 2.79 | 2.76 | 3.24 | 2.56 |
| Debt / EBITDA | 3.71 | 3.71 | 3.51 | 4.04 | 3.92 | 3.30 | 7.68 | 6.68 | 6.53 | 6.76 | 5.75 |
| Net Debt / Equity | — | 0.30 | 0.35 | 0.09 | 0.42 | 0.87 | 0.52 | 1.73 | 1.53 | 1.43 | 1.34 |
| Net Debt / EBITDA | 0.65 | 0.65 | 0.72 | 0.22 | 0.93 | 1.57 | 2.06 | 4.16 | 3.63 | 3.00 | 3.01 |
| Debt / FCF | — | 0.63 | 0.87 | 0.15 | 0.54 | 1.48 | 2.92 | 3.34 | 4.48 | 2.10 | 4.01 |
| Interest Coverage | 1.68 | 1.68 | 1.56 | 1.53 | 3.47 | 8.33 | 2.05 | 2.43 | 2.76 | 3.52 | 4.72 |
AXP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.28x is below 1.0, meaning current liabilities exceed current assets — though the company's $47.7B cash position helps mitigate short-term liquidity concerns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.28 | 0.28 | 0.27 | 0.33 | 0.31 | 0.27 | 0.58 | 0.95 | 1.02 | 0.46 | 0.44 |
| Quick Ratio | 0.28 | 0.28 | 0.27 | 0.33 | 0.31 | 0.27 | 0.58 | 0.95 | 1.02 | 0.46 | 0.44 |
| Cash Ratio | 0.28 | 0.28 | 0.26 | 0.32 | 0.27 | 0.22 | 0.33 | 0.26 | 0.32 | 0.38 | 0.34 |
| Asset Turnover | — | 0.27 | 0.27 | 0.26 | 0.24 | 0.24 | 0.20 | 0.24 | 0.23 | 0.22 | 0.24 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
AXP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
American Express Company returns 3.7% to shareholders annually — split between a 1.0% dividend yield and 2.7% buyback yield. The payout ratio of 21.0% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 4.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.0% | 0.9% | 0.9% | 1.3% | 1.4% | 1.1% | 1.5% | 1.4% | 1.6% | 1.4% | 1.7% |
| Payout Ratio | 21.0% | 21.0% | 19.7% | 21.3% | 20.8% | 18.0% | 47.0% | 21.0% | 19.1% | 45.5% | 22.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 4.2% | 4.7% | 6.0% | 6.7% | 6.1% | 3.1% | 6.4% | 8.5% | 3.0% | 7.6% |
| FCF Yield | 7.3% | 6.2% | 5.7% | 12.3% | 17.3% | 10.1% | 4.2% | 11.6% | 9.3% | 14.2% | 9.9% |
| Buyback Yield | 2.7% | 2.3% | 2.8% | 2.6% | 3.2% | 5.9% | 1.1% | 4.5% | 2.1% | 5.0% | 6.5% |
| Total Shareholder Yield | 3.7% | 3.1% | 3.8% | 3.9% | 4.6% | 7.0% | 2.6% | 5.9% | 3.7% | 6.4% | 8.2% |
| Shares Outstanding | — | $696M | $713M | $736M | $752M | $790M | $806M | $830M | $859M | $886M | $935M |
Peer Comparison
Compare AXP with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AXPYou | $219B | 20.7 | 14.7 | 13.7 | 83.2% | 17.1% | 34.0% | 12.0% | 3.7 |
 V | $616B | 31.5 | 24.6 | 28.6 | 80.4% | 60.0% | 52.1% | 29.2% | 1.0 |
 MA | $443B | 30.3 | 22.0 | 26.2 | 83.4% | 59.2% | 209.9% | 56.5% | 0.9 |
 COF | $119B | 47.8 | 15.0 | 4.6 | 47.3% | 3.3% | 2.8% | 1.3% | 6.8 |
 JPM | $826B | 15.5 | 13.3 | — | 58.6% | 27.7% | 17.4% | 5.4% | 9.0 |
 BAC | $401B | 13.8 | 14.6 | 31.8 | 55.4% | 18.5% | 10.2% | 3.2% | 10.0 |
 C | $226B | 21.7 | 25.3 | — | 41.7% | 10.0% | 6.1% | 1.6% | 27.7 |
 SYF | $26B | 8.0 | 5.0 | 2.6 | 51.0% | 24.2% | 21.3% | 10.8% | 3.0 |
 ALLY | $14B | 18.5 | 12.8 | — | 52.0% | 8.6% | 5.8% | 2.2% | 11.1 |
 FIS | $24B | 63.0 | 7.7 | 10.0 | 36.9% | 16.5% | 2.6% | 6.0% | 1.1 |
 FISV | $30B | 9.0 | 6.6 | 7.0 | 59.4% | 26.9% | 13.0% | 8.1% | 3.3 |
| Financial Services Median | — | 13.1 | 11.5 | 10.6 | 63.6% | 21.6% | 9.4% | 5.7% | 4.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonAXP — Frequently Asked Questions
Quick answers to the most common questions about buying AXP stock.
What is American Express Company's P/E ratio?
American Express Company's current P/E ratio is 20.7x. The historical average is 18.7x. This places it at the 73th percentile of its historical range.
What is American Express Company's EV/EBITDA?
American Express Company's current EV/EBITDA is 14.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.2x.
What is American Express Company's ROE?
American Express Company's return on equity (ROE) is 34.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 25.9%.
Is AXP stock overvalued?
Based on historical data, American Express Company is trading at a P/E of 20.7x. This is at the 73th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is American Express Company's dividend yield?
American Express Company's current dividend yield is 1.02% with a payout ratio of 21.0%.
What are American Express Company's profit margins?
American Express Company has 83.2% gross margin and 17.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does American Express Company have?
American Express Company's Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.