American Express (AXP) Gross Margin (2021 - 2026)
American Express (AXP) posted Gross Margin of 92.17% for Q1 2026, up 0.73% sequentially from 91.51% in Q4 2025, and up 93.0% YoY from 47.76% in Q1 2025.
American Express (AXP) Gross Margin (2021 - 2026) Analysis & Trends
American Express (AXP) has 6 years of Gross Margin data on file, last reported at 92.17% in Q1 2026.
- Quarterly Gross Margin rose 93.0% year-over-year to 92.17% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 91.58% (up 59.0% YoY) and the FY2025 annual result came in at 91.34%, up 50.0% from the prior year.
- Gross Margin grew to 92.17% in Q1 2026 per AXP's latest filing, from 91.51% in the prior quarter.
- The five-year high for Gross Margin was 92.23% in Q4 2023, with the low at 88.79% in Q2 2022.
- Average Gross Margin over 5 years is 90.88%, with a median of 91.01% recorded in 2022.
- Year-over-year, Gross Margin jumped 406 bps in 2022 and plunged 162 bps in 2024.
- American Express' Gross Margin stood at 91.01% in 2022, then climbed by 1 bps to 92.23% in 2023, then declined by 2 bps to 90.6% in 2024, then climbed by 1 bps to 91.51% in 2025, then advanced by 1 bps to 92.17% in 2026.
- Business Quant data shows AXP's Gross Margin at 92.17% in Q1 2026, 91.51% in Q4 2025, and 91.32% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Visa | 587.74 Bn | 575.34 Bn | - | - |
| 2 | Mastercard | 465.55 Bn | 455.34 Bn | - | - |
| 3 | American Express | 238.39 Bn | 184.35 Bn | 17.43 Bn | 92.17% |
| 4 | PayPal Holdings | 40.24 Bn | 30.89 Bn | 7.84 Bn | 93.80% |
| 5 | Affirm Holdings | 28.27 Bn | 26.55 Bn | 261.64 Mn | 78.22% |
| 6 | SoFi Technologies | 23.54 Bn | 20.13 Bn | 929.25 Mn | 84.45% |
| 7 | Ally Financial | 14.34 Bn | 13.89 Bn | 1.98 Bn | 94.24% |
| 8 | Credit Acceptance | 7.51 Bn | 7.49 Bn | 562.70 Mn | 97.03% |
| 9 | FinVolution | 6.22 Bn | 4.97 Bn | 311.24 Mn | 71.98% |
| 10 | Sezzle | 5.91 Bn | 5.79 Bn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 92.17% |
| Dec 31, 2025 | 91.51% |
| Sep 30, 2025 | 91.32% |
| Jun 30, 2025 | 91.29% |
| Mar 31, 2025 | 91.24% |
| Dec 31, 2024 | 90.60% |
| Sep 30, 2024 | 91.16% |
| Jun 30, 2024 | 90.94% |
| Mar 31, 2024 | 90.66% |
| Dec 31, 2023 | 92.23% |
| Sep 30, 2023 | 91.96% |
| Jun 30, 2023 | 90.65% |
| Mar 31, 2023 | 90.61% |
| Dec 31, 2022 | 91.01% |
| Sep 30, 2022 | 89.24% |
| Jun 30, 2022 | 88.79% |
| Mar 31, 2022 | 89.57% |
| Dec 31, 2021 | 86.95% |
| Sep 30, 2021 | 87.08% |
| Jun 30, 2021 | 87.02% |