American Express (AXP)
Issues cards and operates an integrated merchant-acquiring and payments network.
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Issues consumer and commercial credit and charge cards, runs a global merchant-acquiring and payment network, and offers rewards, travel, dining, expense-management, deposit and lending services. Its integrated model earns mainly from merchant discount revenue, card fees and net interest income while retaining direct relationships with many card members and merchants.
Issues credit and charge cards to consumers, small businesses, midsize companies and large corporations through U.S. Consumer Services, Commercial Services and International Card Services. Products combine Membership Rewards, travel and dining benefits, expense management, deposits and lending.
Operates both sides of many transactions by issuing cards, acquiring merchants and running the payment network. Global Merchant and Network Services signs and services merchants, while third-party issuers and acquirers extend the network internationally. Discount revenue from card spending is the largest revenue stream, supplemented by card fees, services and net interest income.
Direct relationships with card members and merchants provide transaction data used for underwriting, fraud prevention, offers and service. The model depends on customer spending, merchant acceptance and discount pricing, credit performance, funding access and costs, partner relationships, and extensive banking and payments regulation.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 3, 2026 | UBS | Reiterate | Rating: —Target: $386 | Target: $384 |
| Jul 27, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $385 | Target: $382 |
| Jul 27, 2026 | Evercore ISI | Target | Target: $380 | Target: $370 |
| Jul 27, 2026 | BTIG | Reiterate | Rating: —Target: $324 | Target: $315 |
| Jul 13, 2026 | Morgan Stanley | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $45.56B · Total debt $59.05B · Total assets $308.20B · Shareholders' equity $34.28B
- Revenue
- $21.60B
- Operating income
- $9.34B
- Net income
- $3.11B
HistoryDividendAnnual yield
| Institutions | 86.02% | 580.93M shares | |
|---|---|---|---|
| 3,109 holders · as of Jun 30, 2026 | |||
| Insiders | 0.09% | 589.9K shares | |
| 19 holders · as of Aug 19, 2026 | |||
| Other | 13.89% | 93.79M shares | |
| remainder | |||
675.31M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Berkshire Hathaway IncInstitution | 22.45% | 151.61M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 6.22% | 42.01M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 5.21% | 35.22M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.31% | 29.10M | as of Jun 30, 2026 |
JPMorgan Chase & CoInstitution | 3.03% | 20.46M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Monique Herena | officer: Chief Colleague Exp. Officer | −8,811 | $337.41 |
| Jun 15, 2026 | Glenda G. McNeal | officer: Chief Partner Officer | −7,033 | $339.36 |
| Mar 13, 2026 | Raymond Joabar | officer: Grp. Pres., Global Comm. Serv. | −16 | $301.27 |
| Mar 2, 2026 | Raymond Joabar | officer: Grp. Pres., Global Comm. Serv. | −24 | $309.85 |
| Sep 15, 2023 | Raymond Joabar | officer: Grp. Pres., Global Comm. Serv. | +9 | $162.94 |
- Visa
Dominant open-loop network; processes 7x AXP's card volume globally.
- JPMorgan Chase
Chase Sapphire Reserve — most direct premium-card rival to Amex Platinum.
- Mastercard
Second-largest network; fastest-growing global co-brand and B2B rival.
- Capital One
Post-Discover: issuer rival with its own network, a new AXP closed-loop analog.
- Citi
Strata Elite and AA co-brand re-enter premium space as direct AXP challenger.
- PayPal
Named in AXP 10-K; contests digital checkout and SMB merchant acceptance.
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| American Express | $305.83 | +0.20% | $211.77B | 19.0 | 16.3 | 2.5 | +10.0% |
| Visa | $362.65 | +0.15% | $690.71B | 31.5 | 25.0 | 15.5 | +14.4% |
| JPMorgan Chase | $340.50 | +0.13% | $943.29B | 15.2 | 14.1 | 3.2 | +27.8% |
| Mastercard | $556.89 | +0.14% | $497.85B | 31.2 | 26.2 | 14.2 | +14.1% |
| Capital One | $200.80 | +0.08% | $125.72B | 12.7 | 9.2 | 1.6 | +26.0% |
| Citi | $132.59 | +0.12% | $231.60B | 14.6 | 11.4 | 1.3 | +14.3% |
| PayPal | $52.99 | +0.21% | $45.01B | 9.9 | 9.5 | 1.3 | +4.8% |
| Median | 14.9 | 12.7 | 2.4 | +14.3% |