American Express annual net debt
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2025
American Express Net Debt Growth & History (AXP)
American Express's net debt was $11.10B for fiscal 2025.
View full American Express company overviewAmerican Express annual net debt history
| Fiscal year | Period ended | Net debt | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $11.10B | −$280.0M | −2.46% |
| 2024 | 2024-12-31 | $11.38B | $7.89B | +226.23% |
| 2023 | 2023-12-31 | $3.49B | −$8.04B | −69.72% |
| 2022 | 2022-12-31 | $11.52B | −$8.49B | −42.41% |
| 2021 | 2021-12-31 | $20.01B | $7.04B | +54.30% |
| 2020 | 2020-12-31 | $12.97B | −$27.64B | −68.07% |
| 2019 | 2019-12-31 | $40.61B | $6.90B | +20.46% |
| 2018 | 2018-12-31 | $33.72B | $7.90B | +30.58% |
| 2017 | 2017-12-31 | $25.82B | −$1.26B | −4.65% |
| 2016 | 2016-12-31 | $27.08B | −$2.56B | −8.63% |
| 2015 | 2015-12-31 | $29.63B | — | — |
| 2010 | 2010-12-31 | $69.18B | −$6.40B | −8.47% |
| 2009 | 2009-12-31 | $75.58B | $27.10B | +55.89% |
| 2008 | 2008-12-31 | $48.48B | — | — |
American Express quarterly net debt
Q4.08
Q2.09
Q3.09
Q4.09
Q1.10
Q2.10
Q4.10
Q1.11
Q2.11
Q4.15
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q4.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Net debt | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $13.81B | $12.05B | +685.32% |
| Q1 2026 | 2026-03-31 | $6.68B | $6.40B | +2229.27% |
| Q4 2025 | 2025-12-31 | $11.10B | −$280.0M | −2.46% |
| Q3 2025 | 2025-09-30 | $4.53B | −$2.56B | −36.10% |
| Q2 2025 | 2025-06-30 | $1.76B | $1.49B | +563.40% |
| Q1 2025 | 2025-03-31 | $287.0M | $3.93B | — |
| Q4 2024 | 2024-12-31 | $11.38B | $7.89B | +226.23% |
| Q3 2024 | 2024-09-30 | $7.08B | $2.46B | +53.35% |
| Q2 2024 | 2024-06-30 | $265.0M | −$6.32B | −95.97% |
| Q1 2024 | 2024-03-31 | −$3.65B | −$5.67B | — |
| Q4 2023 | 2023-12-31 | $3.49B | −$8.04B | −69.72% |
| Q3 2023 | 2023-09-30 | $4.62B | −$9.47B | −67.20% |
| Q2 2023 | 2023-06-30 | $6.58B | −$10.71B | −61.93% |
| Q1 2023 | 2023-03-31 | $2.03B | −$10.76B | −84.15% |
| Q4 2022 | 2022-12-31 | $11.52B | −$8.49B | −42.41% |
| Q3 2022 | 2022-09-30 | $14.09B | $5.27B | +59.71% |
| Q2 2022 | 2022-06-30 | $17.29B | $8.86B | +105.05% |
| Q1 2022 | 2022-03-31 | $12.78B | $9.46B | +285.32% |
| Q4 2021 | 2021-12-31 | $20.01B | $7.04B | +54.30% |
| Q3 2021 | 2021-09-30 | $8.82B | −$2.05B | −18.83% |
| Q2 2021 | 2021-06-30 | $8.43B | $170.0M | +2.06% |
| Q1 2021 | 2021-03-31 | $3.32B | −$14.16B | −81.02% |
| Q4 2020 | 2020-12-31 | $12.97B | −$27.64B | −68.07% |
| Q3 2020 | 2020-09-30 | $10.87B | −$25.07B | −69.76% |
| Q2 2020 | 2020-06-30 | $8.26B | −$24.97B | −75.14% |
| Q1 2020 | 2020-03-31 | $17.48B | −$9.34B | −34.82% |
| Q4 2019 | 2019-12-31 | $40.61B | $6.90B | +20.46% |
| Q3 2019 | 2019-09-30 | $35.94B | $9.61B | +36.49% |
| Q2 2019 | 2019-06-30 | $33.23B | $6.64B | +24.96% |
| Q1 2019 | 2019-03-31 | $26.82B | $4.01B | +17.57% |
| Q4 2018 | 2018-12-31 | $33.72B | $7.90B | +30.58% |
| Q3 2018 | 2018-09-30 | $26.33B | $3.47B | +15.18% |
| Q2 2018 | 2018-06-30 | $26.59B | $1.98B | +8.06% |
| Q1 2018 | 2018-03-31 | $22.81B | −$2.76B | −10.81% |
| Q4 2017 | 2017-12-31 | $25.82B | −$1.26B | −4.65% |
| Q3 2017 | 2017-09-30 | $22.86B | — | — |
| Q2 2017 | 2017-06-30 | $24.61B | — | — |
| Q1 2017 | 2017-03-31 | $25.57B | — | — |
| Q4 2016 | 2016-12-31 | $27.08B | −$2.56B | −8.63% |
| Q4 2015 | 2015-12-31 | $29.63B | — | — |
| Q2 2011 | 2011-06-30 | $64.63B | $13.36B | +26.06% |
| Q1 2011 | 2011-03-31 | $63.55B | $10.43B | +19.63% |
| Q4 2010 | 2010-12-31 | $69.18B | −$6.40B | −8.47% |
| Q2 2010 | 2010-06-30 | $51.27B | $12.00B | +30.56% |
| Q1 2010 | 2010-03-31 | $53.13B | — | — |
| Q4 2009 | 2009-12-31 | $75.58B | $27.10B | +55.89% |
| Q3 2009 | 2009-09-30 | $36.40B | — | — |
| Q2 2009 | 2009-06-30 | $39.27B | — | — |
| Q4 2008 | 2008-12-31 | $48.48B | — | — |
American Express net debt trends
Over the last five fiscal years, American Express's net debt decreased from $12.97B to $11.10B, a change of −$1.87B. The latest reported quarter, Q2 2026, shows $13.81B.
About the metric
What net debt means
Net debt compares a company’s interest-bearing debt with its cash and cash equivalents. Positive net debt means debt exceeds cash, while a negative value indicates the company has more cash than debt on this measure.
Calculation and source
How net debt is calculated
TickerStat calculates net debt as total interest-bearing debt minus cash and cash equivalents at the same reporting-period end. Short-term investments are not subtracted because they are not included in the standardized cash series. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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