American Express (AXP): analysis in plain words
Is American Express cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
American Express (AXP) is listed on the NYSE and we classify it in financial services and payments. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against American Express according to those figures, and the questions people ask most about the stock. No buy or sell tips.
American Express (AXP) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $332.59 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 18.7x | Price over earnings per share |
| Revenue growth | +11.3% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 16.8% | Profit for every 100 of sales |
| Net debt / EBITDA | N/A | Years of operating profit to repay debt |
| Dividend yield | 1.17% | Annual dividend over price |
| Market cap | $223.0 billion | What the stock market values it at |
The American Express figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any AXP figure that is not available shows as N/A: we do not estimate it.
How American Express makes money
American Express issues cards and runs its own payment network. It earns discount fees from merchants on each purchase, annual fees on cards like Platinum and Gold, and interest on balances. Segments are U.S. Consumer Services, the largest, Commercial Services, International Card Services, and Global Merchant and Network Services.
Over the last 12 months, American Express brought in revenue of $72.9 billion. For every 100 it sells, American Express keeps 62.0 after the direct cost of what it sells (gross margin) and 18.4 after all operating costs (operating margin).
American Express against its sector
To know whether a American Express figure is high or low you have to put it next to similar companies. This table compares American Express with the median of the 21 financial services and payments companies Fintols covers, with data as of November 4, 2026.
| Figure | American Express | financial services and payments median |
|---|---|---|
| P/E | 18.7x | 27.9x (21) |
| Revenue growth | +11.3% | +12.4% (24) |
| Net margin | 16.8% | 25.8% (24) |
| Dividend yield | 1.17% | 0.81% (24) |
In short, against the typical financial services and payments company, American Express trades on a lower P/E, earns a thinner margin and pays a higher dividend yield. By size, American Express ranks number 3 of 22 financial services and payments companies quoted in USD on Fintols.
The bull case for American Express
These are the strengths in the American Express figures as of November 4, 2026:
- American Express earns 35.9% a year on its shareholders' money (return on equity).
- On a P/E basis American Express trades cheaper than its sector: 18.7x its annual earnings, against 27.9x for the financial services and payments median (21 companies with data).
- American Express is selling more than a year ago: +11.3% in its latest quarter (the typical financial services and payments company grew +12.4%).
The main risk for American Express
The American Express figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: a drop in the payment, investment or trading volumes it earns fees on, plus regulation.
Frequently asked questions about American Express
Is it a good time to buy American Express stock?
Fintols does not tell you whether to buy or sell American Express, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, American Express stock trades at $332.59, 14% below its 52-week high ($387.49) and 14% above its low ($290.97). Its P/E is 18.7x against a financial services and payments median of 27.9x, and 16.5x on the earnings analysts expect over the next 12 months. With American Express, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does American Express pay a dividend?
Yes. As of November 4, 2026, American Express pays $3.80 per share a year, which at today's price is a yield of 1.17%. It uses 15% of its profit to pay it, which leaves room to keep paying it if profit dips. The financial services and payments median on Fintols is 0.81%.
Is American Express stock expensive?
It depends on what you compare it with. On P/E, American Express trades at 18.7x its last 12 months of earnings: cheaper than the financial services and payments median (27.9x). A high P/E alone does not make American Express expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are American Express's competitors?
On Fintols we compare American Express with BlackRock, Mastercard and Visa, which are also in financial services and payments. As of November 4, 2026, BlackRock is worth $198.9 billion and trades on a P/E of 27.9; Mastercard is worth $586.0 billion and trades on a P/E of 35.2; Visa is worth $816.0 billion and trades on a P/E of 35.4. Each has a side-by-side comparison with American Express below.
American Express competitors
- BlackRock (BLK) analysis · American Express vs BlackRock comparison
- Mastercard (MA) analysis · American Express vs Mastercard comparison
- Visa (V) analysis · American Express vs Visa comparison
To understand American Express better
- Economic Moats Explained: From Warren Buffett to AI
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like American Express: financial services and payments stocks, S&P 500 companies and S&P 100 companies. Open the full AXP analysis with its valuation and scenarios. Educational content about American Express, not investment advice.