American Express (AXP) Return on Invested Capital [ROIC] (2011 - 2026)
American Express' Return on Invested Capital [ROIC] was 49.28% in Q2 2026, down 0.73 percentage points from 50.01% a year earlier and down 0.94 percentage points from the prior quarter.
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Analysis
American Express (AXP) Return on Invested Capital [ROIC] (2011 - 2026) Analysis & Trends
For FY2025, Return on Invested Capital [ROIC] at American Express came in at 52.04%, down 2.43 percentage points from FY2024.
- Return on Invested Capital [ROIC] shows a five-year change of +34.88 percentage points (FY2020 to FY2025).
- In earlier years, Return on Invested Capital [ROIC] was 54.47% in FY2024 (+4.55 pp), 49.92% in FY2023 (+11.57 pp), 38.35% in FY2022 (+1.72 pp) and 36.64% in FY2021 (+19.47 pp).
- The Q2 2026 figure marks the lowest quarterly Return on Invested Capital [ROIC] since Q4 2023.
- Compared with a year earlier, Return on Invested Capital [ROIC] has declined for five straight quarters, with an average year-over-year change of +0.75 percentage points over the last eight quarters.
- The best year-over-year quarter for Return on Invested Capital [ROIC] over five years was Q4 2021 (a gain of 16.07 percentage points); the worst was Q4 2025 (a drop of 2.54 percentage points).
- Per Business Quant data, AXP's Return on Invested Capital [ROIC] in the three quarters before Q2 2026 was 50.22% (Q1 2026), 50.36% (Q4 2025) and 50.16% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Jpmorgan Chase | 885.23 Bn | 914.70 Bn | - | 32.13% |
| 2 | Banco Santander Chile | 404.41 Bn | 524.35 Bn | - | - |
| 3 | Bank Of America | 381.15 Bn | -1,994.92 Bn | - | 25.16% |
| 4 | Hsbc Holdings | 319.39 Bn | 319.44 Bn | - | - |
| 5 | Morgan Stanley | 298.67 Bn | -210.43 Bn | - | 42.00% |
| 6 | Royal Bank Of Canada | 268.75 Bn | -557.52 Bn | - | 49.20% |
| 7 | Mitsubishi Ufj Financial | 265.72 Bn | -107.91 Bn | 10.89 Bn | 5.36% |
| 8 | Goldman Sachs | 261.04 Bn | -3,296.07 Bn | - | 14.05% |
| 9 | Wells Fargo & Company | 253.09 Bn | 255.22 Bn | - | 27.68% |
| 10 | American Express | 208.01 Bn | -160.24 Mn | - | 49.28% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 49.28% |
| Mar 31, 2026 | 50.22% |
| Dec 31, 2025 | 50.36% |
| Sep 30, 2025 | 50.16% |
| Jun 30, 2025 | 50.01% |
| Mar 31, 2025 | 51.95% |
| Dec 31, 2024 | 52.90% |
| Sep 30, 2024 | 52.21% |
| Jun 30, 2024 | 51.76% |
| Mar 31, 2024 | 49.47% |
| Dec 31, 2023 | 47.45% |
| Sep 30, 2023 | 45.33% |
| Jun 30, 2023 | 41.27% |
| Mar 31, 2023 | 38.42% |
| Dec 31, 2022 | 37.58% |
| Sep 30, 2022 | 35.81% |
| Jun 30, 2022 | 34.76% |
| Mar 31, 2022 | 36.26% |
| Dec 31, 2021 | 35.33% |
| Sep 30, 2021 | 32.65% |
API Access
American Express Return on Invested Capital [ROIC] 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=return-on-invested-capital-%5Broic%5D&ticker=AXP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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=return-on-invested-capital-%5Broic%5D&ticker=AXP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();