American Express (AXP) Gross Margin (2021 - 2026)

American Express' Gross Margin history runs 6 years deep, the most recent figure standing at 92.17% for Q1 2026.

• In Q1 2026, Gross Margin rose 93.0% year-over-year to 92.17%; the TTM figure through Mar 2026 stood at 91.58% (up 59.0% YoY), while the FY2025 annual figure was 91.34%, up 50.0% from the prior year.
• Gross Margin came in at 92.17% for Q1 2026 at American Express, up from 91.51% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 92.23% in Q4 2023 to a low of 88.79% in Q2 2022.
• A 5-year average of 90.88% and a median of 91.01% in 2022 frame the typical range for Gross Margin.
• Across the five-year window, Gross Margin jumped 406 bps in 2022 and sank 162 bps in 2024, its largest moves.
• American Express' Gross Margin stood at 91.01% in 2022, then gained by 1 bps to 92.23% in 2023, then slipped by 2 bps to 90.6% in 2024, then gained by 1 bps to 91.51% in 2025, then rose by 1 bps to 92.17% in 2026.
• According to Business Quant data, Gross Margin over the past three periods registered 92.17%, 91.51%, and 91.32% for Q1 2026, Q4 2025, and Q3 2025 respectively.