--- title: "American Express: Metrics Guide" description: "American Express revenue, margins, cash flow and balance sheet figures by fiscal year, taken from its SEC filings, with the ratios computed and explained." canonical: https://www.getswoopr.com/stocks/companies/american-express/metrics/ source: "Swoopr Investment: https://www.getswoopr.com" --- # American Express: Financial & Operating Metrics Guide ## Direct Answer American Express reported revenue of $41.3 billion for the fiscal year ended December 31, 2025, net income of $10.8 billion, according to its SEC filings. Revenue grew 6.4% from the prior year. ## What Are American Express's Key Financial Figures? | Fiscal year | FY2025ended December 31, 2025 | FY2024ended December 31, 2024 | FY2023ended December 31, 2023 | FY2022ended December 31, 2022 | | --- | --- | --- | --- | --- | | Revenue | $41.3 billion | $38.8 billion | $37.2 billion | $34.2 billion | | Operating income | Not reported | Not reported | Not reported | Not reported | | Operating margin | n/a | n/a | n/a | n/a | | Net income | $10.8 billion | $10.1 billion | $8.4 billion | $7.5 billion | | Net margin | 26.2% | 26.1% | 22.5% | 22.0% | | Operating cash flow | $18.4 billion | $14.1 billion | $18.6 billion | $21.1 billion | | Capital expenditures | $2.4 billion | $1.9 billion | $1.6 billion | $1.9 billion | | Free cash flow | $16.0 billion | $12.1 billion | $17.0 billion | $19.2 billion | Free cash flow (operating cash flow minus capital expenditures) was $16.0 billion against net income of $10.8 billion; cash generation covered reported earnings. ![Bar chart of American Express revenue, net income for fiscal 2022 to 2025. In fiscal 2025, revenue was $41.3 billion and net income $10.8 billion.](https://www.getswoopr.com/images/charts/american-express-metrics-revenue-profit.webp) *American Express revenue, operating income and net income by fiscal year, from the figures in the table above. Select the chart to open it full size.* ![Line chart of American Express net margin for fiscal 2022 to 2025. In fiscal 2025, net margin was 26.2%.](https://www.getswoopr.com/images/charts/american-express-metrics-margins.webp) *American Express operating margin and net margin by fiscal year: operating income and net income as a share of revenue. Select the chart to open it full size.* ![Bar chart of American Express operating cash flow, capital expenditures, free cash flow for fiscal 2022 to 2025. In fiscal 2025, operating cash flow was $18.4 billion, capital expenditures was $2.4 billion, free cash flow was $16.0 billion.](https://www.getswoopr.com/images/charts/american-express-metrics-cash-flow.webp) *American Express operating cash flow, capital expenditures and free cash flow by fiscal year. Select the chart to open it full size.* ## What Does American Express's Balance Sheet Show? | Cash and cash equivalents | $47.8 billion | | --- | --- | | Long-term debt | $56.4 billion | | Total assets | $300 billion | | Total liabilities | $267 billion | | Shareholders' equity | $33.5 billion | | Current ratio | n/a | Balance sheet values are as of the end of fiscal 2025. Income statement figures describe a whole year; balance sheet figures describe a single day, so the two answer different questions. ## Where These Numbers Come From Every figure on this page is a value American Express reported in its own SEC filings, read from the SEC's XBRL data (accession 0000004962-26-000080 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 12, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary. Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation. ## Frequently Asked Questions ### What was American Express's revenue in fiscal 2025? American Express reported revenue of $41.3 billion for the fiscal year ended December 31, 2025, according to its SEC filings. ### What is American Express's operating margin? American Express did not report operating income under the standard tag for fiscal 2025, so Swoopr does not compute an operating margin; the income statement in its 10-K shows how it presents profit. ### How much free cash flow did American Express generate? Operating cash flow of $18.4 billion less capital expenditures of $2.4 billion gives free cash flow of $16.0 billion for fiscal 2025. ## References - [SEC EDGAR: AMERICAN EXPRESS CO Form 10-K filed February 6, 2026](https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm) - [SEC EDGAR: AMERICAN EXPRESS CO annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=4962&type=10-K) - [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces) ## Related Pages - [American Express company dossier](https://www.getswoopr.com/stocks/companies/american-express/) - [American Express financial metrics](https://www.getswoopr.com/stocks/companies/american-express/metrics/) - [American Express financial risk indicators](https://www.getswoopr.com/stocks/companies/american-express/risks/) - [American Express peer comparison](https://www.getswoopr.com/stocks/companies/american-express/competitors/) - [American Express business model and revenue mix](https://www.getswoopr.com/stocks/companies/american-express/business-model/) - [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/) **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. 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