American Express Company

AXPNYSEFinancial Services● Active

$310.65

$-1.88(-0.60%)

Market Cap$212.0B

P/E Ratio—

52W High$387.49

52W Low$286.15

Avg Volume3.3M

Open$313.49

Beta1.06

Overview

American Express Company (AXP) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

AXP · free cash flow · updated Jun 8, 2026

Core FCF metrics

AXP · FCF · TTM · margin & CAGR

Free cash flow was $16.00B for FY2025 (fiscal year ending 2025-12-31), up 31.8% year-over-year The FCF margin was 19.9%. Five-year CAGR stands at +31.2%.

FY2025 Free Cash Flow$16.00B▲ +31.8% YoY

Trailing 12M (TTM)$14.32Btrailing 4 quarters sum

FCF Margin19.9%$16.00B ÷ revenue

3-Year CAGR-5.9%FY2022 → FY2025

5-Year CAGR+31.2%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

AXP · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$18.43B(2.42B)$16.00B▲ +31.8%19.9%

FY2024$14.05B(1.91B)$12.14B▼ 28.6%16.4%

FY2023$18.56B(1.56B)$17.00B▼ 11.6%25.2%

FY2022$21.08B(1.85B)$19.22B▲ +46.8%34.6%

FY2021$14.64B(1.55B)$13.10B▲ +218.4%29.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

AXP · P/FCF · FCF yield · FCF per share

American Express Company (AXP) trades at a FCF yield of 6.76% and a price-to-free-cash-flow ratio of 15.1x. FCF per share stands at $20.61, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

6.76%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$20.61

TTM FCF ÷ Shares Outstanding

Price / FCF

x15.1

Share Price ÷ FCF per Share

EV / FCF (TTM)

x15.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

AXP · cash flow statement · operating / investing / financing

For FY2025, American Express Company generated $18.43B in operating cash flow and spent 2.42B in capital expenditures, yielding $16.00B in free cash flow.

Operating Activities

+$18.43B

Cash from core business operations

2025-12-31

Investing Activities

−$22.89B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$11.21B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($18.43B) − |CapEx| (2.42B) = FCF ($16.00B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

AXP vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

American Express CompanyYOU

AXP

$16.00B+31.8%19.9%

16%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

American Express Company (AXP) reported free cash flow of $16.00B for FY2025 (fiscal year ending 2025-12-31), up 31.8% year-over-year. The FCF margin was 19.9%.

Based on available data, American Express Company has maintained positive free cash flow for at least 15 fiscal year(s). FCF peaked at $19.22B in FY2022. The 5-year CAGR stands at +31.2%.

American Express Company's FCF yield is 6.76% and price-to-FCF ratio is 15.1x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

AXP free cash flow · 8 questions

American Express Company free cash flow was $16.00B for FY2025, up 31.8% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $14.32B.

AXP free cash flowAXP FCFAXP FCF 2025AXP free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · American Express Company · American Express Company SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026