American Express (AXP) Net Margin (2009 - 2026)
American Express (AXP) reported Net Margin of 18.50% for Q3 2026, up 2.75 percentage points from 15.75% a year earlier and up 2.67 percentage points from the prior quarter.
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Analysis
American Express (AXP) Net Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, American Express' Net Margin came in at 15.80%, up 0.83 percentage points year-over-year; for FY2025, it came in at 15.00%, down 0.36 percentage points from FY2024.
- Net Margin has a five-year change of +6.31 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at 15.36% in FY2024 (+1.52 pp), 13.84% in FY2023 (-0.38 pp), 14.21% in FY2022 (-4.80 pp) and 19.02% in FY2021 (+10.33 pp).
- The Q3 2026 figure ranks as the highest quarterly Net Margin since Q2 2021.
- Year over year, Net Margin gained in five of the last eight quarters, with an average year-over-year change of +0.23 percentage points.
- The high point for year-over-year Net Margin in five years was Q2 2024 (a gain of 4.02 percentage points); the low point was Q2 2022 (a drop of 7.60 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 15.84% (Q2 2026), 15.71% (Q1 2026) and 12.97% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 903.97 Bn | 903.97 Bn | - | - |
| 2 | Bank Of America | 356.92 Bn | -2,019.15 Bn | - | 27.72% |
| 3 | Hsbc Holdings | 296.96 Bn | -1,806.64 Bn | - | 38.08% |
| 4 | Morgan Stanley | 285.10 Bn | 285.10 Bn | - | - |
| 5 | Royal Bank Of Canada | 284.66 Bn | -545.38 Bn | - | 32.48% |
| 6 | Goldman Sachs | 266.61 Bn | 266.61 Bn | - | - |
| 7 | Wells Fargo & Company | 250.94 Bn | 250.94 Bn | - | 26.08% |
| 8 | Mitsubishi Ufj Financial | 245.01 Bn | -96.38 Bn | 10.89 Bn | 246.71% |
| 9 | Toronto Dominion Bank | 214.22 Bn | -461.66 Bn | - | 26.78% |
| 10 | American Express | 214.16 Bn | 13.64 Bn | - | 18.50% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 18.50% |
| Jun 30, 2026 | 15.84% |
| Mar 31, 2026 | 15.71% |
| Dec 31, 2025 | 12.97% |
| Sep 30, 2025 | 15.75% |
| Jun 30, 2025 | 16.16% |
| Mar 31, 2025 | 15.23% |
| Dec 31, 2024 | 12.63% |
| Sep 30, 2024 | 15.07% |
| Jun 30, 2024 | 18.46% |
| Mar 31, 2024 | 15.42% |
| Dec 31, 2023 | 12.23% |
| Sep 30, 2023 | 15.94% |
| Jun 30, 2023 | 14.44% |
| Mar 31, 2023 | 12.72% |
| Dec 31, 2022 | 11.09% |
| Sep 30, 2022 | 13.86% |
| Jun 30, 2022 | 14.66% |
| Mar 31, 2022 | 17.89% |
| Dec 31, 2021 | 14.15% |
API Access
American Express Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=AXP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "AXP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=AXP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();