American Express Company (Amex) is an American bank holding company and multinational financial services corporation specializing in payment cards. It is headquartered at 200 Vesey Street, also known as American Express Tower, in the Battery Park City neighborhood of Lower Manhattan. Amex is the fourth-largest card network globally by purchase volume, following China UnionPay, Visa, and Mastercard. As of December 31, 2022, there were 133.3 million Amex cards in force worldwide, with an average annual spend per card member of US$23,496. In 2022, Amex handled over $1.6 trillion in purchase volume on its network. Ranked 77th on the Fortune 500 and 63rd in the Forbes Global 2000 in 2023, Amex is one of the largest US banks and owns a direct bank.
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Founded in 1850 as a freight forwarding company, Amex introduced financial and travel services in the early 1900s. The company developed its first paper charge card in 1958, followed by the gold card in 1966, the green card in 1969, the platinum card in 1984, and the Centurion Card in 1999. The “Don’t Leave Home Without It” advertising campaign was launched in 1975 and renewed in 2005. During the 1980s, Amex acquired and then divested a stake in Shearson. In the 1990s, the company stopped reducing interchange fees for merchants who exclusively accepted Amex cards and expanded its market share through targeted marketing campaigns. Amex converted to a bank holding company during the 2007–2008 financial crisis and began operating airport lounges in 2013, offering access to certain cardholders.
In 2022, Amex had a 4.61% worldwide market share by payment volume, compared to 38.73% for Visa and 24% for Mastercard. While American Express credit cards are accepted at 99% of US merchants that accept credit cards (Costco being a notable exception), they are less accepted in Europe and Asia. American Express offers various types of cards, including travel and dining cards, everyday spending points cards, and cash back cards, each with different benefits and reward structures.
Market Capitalization of American Express (AXP)
- Market Cap as of May 2024: $173.58 billion
- This makes American Express the world’s 74th most valuable company by market cap.
- Market capitalization, or market cap, is the total market value of a publicly traded company’s outstanding shares and is commonly used to measure a company’s worth.
Revenue for American Express (AXP)
- Revenue in 2023 (TTM): $61.97 billion
- Revenue in 2022: $52.56 billion
- Revenue in 2021: $43.14 billion
Revenue represents the total income generated from the sale of goods or services without deducting expenses.
Earnings for American Express (AXP)
- Earnings in 2023 (TTM): $11.49 billion
- Earnings in 2022: $9.58 billion
- Earnings in 2021: $10.68 billion
The earnings displayed are the company’s pretax income.
Stock Price History for American Express (AXP)
- Highest End of Day Price: $242.30 USD on May 10, 2024
- Lowest End of Day Price: $1.13 USD on October 3, 1974
P/E Ratio for American Express (AXP)
- P/E Ratio as of May 2024 (TTM): 22.6
- At the end of 2022, the P/E ratio was 15.0.
- The price-to-earnings (P/E) ratio measures the company’s current share price relative to its per-share earnings.
P/S Ratio for American Express (AXP)
- P/S Ratio as of May 2024 (TTM): 2.80
- At the end of 2023, the P/S ratio was 2.26.
- The price-to-sales (P/S) ratio compares the company’s stock price to its revenue.
Number of Shares Outstanding for American Express (AXP)
- As of May 2024: 721,000,000 shares
- The number of outstanding shares can be influenced by stock splits and share buybacks.
Total Assets for American Express (AXP)
- As of March 2024: $269.26 billion
- Total assets include all current and non-current assets, such as inventories, cash and cash equivalents, properties, and equipment.
Cash on Hand for American Express (AXP)
- As of December 2022: $34.00 billion
- Cash on hand includes cash and cash equivalents, as well as short-term investments.
Total Debt for American Express (AXP)
- As of March 2024: $50.56 billion
- Total debt is the sum of all current and non-current debts.
This detailed overview of American Express Company provides comprehensive insights into the company’s market position, financial performance, and historical background, useful for investors and financial analysts.
