American Express annual return on equity
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2025
American Express Return on Equity (ROE) Growth & History (AXP)
American Express's return on equity was 33.99% for fiscal 2025.
View full American Express company overviewAmerican Express annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 33.99% | −0.74 pp |
| 2024 | 2024-12-31 | 34.74% | +3.00 pp |
| 2023 | 2023-12-31 | 31.74% | −0.31 pp |
| 2022 | 2022-12-31 | 32.05% | −3.64 pp |
| 2021 | 2021-12-31 | 35.69% | +22.08 pp |
| 2020 | 2020-12-31 | 13.61% | −16.19 pp |
| 2019 | 2019-12-31 | 29.80% | −4.33 pp |
| 2018 | 2018-12-31 | 34.13% | +19.96 pp |
| 2017 | 2017-12-31 | 14.17% | −11.92 pp |
| 2016 | 2016-12-31 | 26.09% | +1.12 pp |
| 2015 | 2015-12-31 | 24.97% | −4.33 pp |
| 2014 | 2014-12-31 | 29.30% | +1.38 pp |
| 2013 | 2013-12-31 | 27.92% | +4.13 pp |
| 2012 | 2012-12-31 | 23.79% | −2.47 pp |
| 2011 | 2011-12-31 | 26.26% | +0.44 pp |
| 2010 | 2010-12-31 | 25.82% | +8.41 pp |
| 2009 | 2009-12-31 | 17.40% | −6.20 pp |
| 2008 | 2008-12-31 | 23.60% | — |
American Express quarterly return on equity
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| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 9.11% | +0.03 pp |
| Q1 2026 | 2026-03-31 | 8.81% | +0.40 pp |
| Q4 2025 | 2025-12-31 | 7.47% | +0.24 pp |
| Q3 2025 | 2025-09-30 | 8.97% | +0.50 pp |
| Q2 2025 | 2025-06-30 | 9.08% | −1.26 pp |
| Q1 2025 | 2025-03-31 | 8.41% | −0.17 pp |
| Q4 2024 | 2024-12-31 | 7.24% | +0.26 pp |
| Q3 2024 | 2024-09-30 | 8.46% | −0.61 pp |
| Q2 2024 | 2024-06-30 | 10.34% | +2.09 pp |
| Q1 2024 | 2024-03-31 | 8.58% | +1.41 pp |
| Q4 2023 | 2023-12-31 | 6.98% | +0.52 pp |
| Q3 2023 | 2023-09-30 | 9.07% | +1.11 pp |
| Q2 2023 | 2023-06-30 | 8.25% | −0.36 pp |
| Q1 2023 | 2023-03-31 | 7.16% | −2.26 pp |
| Q4 2022 | 2022-12-31 | 6.46% | −0.91 pp |
| Q3 2022 | 2022-09-30 | 7.97% | +0.66 pp |
| Q2 2022 | 2022-06-30 | 8.61% | −0.51 pp |
| Q1 2022 | 2022-03-31 | 9.42% | −0.00 pp |
| Q4 2021 | 2021-12-31 | 7.38% | +0.97 pp |
| Q3 2021 | 2021-09-30 | 7.31% | +2.31 pp |
| Q2 2021 | 2021-06-30 | 9.12% | +7.90 pp |
| Q1 2021 | 2021-03-31 | 9.42% | +7.76 pp |
| Q4 2020 | 2020-12-31 | 6.41% | −0.93 pp |
| Q3 2020 | 2020-09-30 | 5.00% | −2.61 pp |
| Q2 2020 | 2020-06-30 | 1.22% | −6.55 pp |
| Q1 2020 | 2020-03-31 | 1.67% | −5.30 pp |
| Q4 2019 | 2019-12-31 | 7.35% | −1.84 pp |
| Q3 2019 | 2019-09-30 | 7.61% | −0.20 pp |
| Q2 2019 | 2019-06-30 | 7.77% | −0.24 pp |
| Q1 2019 | 2019-03-31 | 6.97% | −1.66 pp |
| Q4 2018 | 2018-12-31 | 9.19% | +15.32 pp |
| Q3 2018 | 2018-09-30 | 7.81% | +1.38 pp |
| Q2 2018 | 2018-06-30 | 8.01% | +1.63 pp |
| Q1 2018 | 2018-03-31 | 8.63% | +2.59 pp |
| Q4 2017 | 2017-12-31 | −6.13% | −10.10 pp |
| Q3 2017 | 2017-09-30 | 6.43% | +0.99 pp |
| Q2 2017 | 2017-06-30 | 6.38% | −3.33 pp |
| Q1 2017 | 2017-03-31 | 6.04% | −0.89 pp |
| Q4 2016 | 2016-12-31 | 3.97% | −0.34 pp |
| Q3 2016 | 2016-09-30 | 5.44% | −0.45 pp |
| Q2 2016 | 2016-06-30 | 9.71% | +3.02 pp |
| Q1 2016 | 2016-03-31 | 6.93% | −0.22 pp |
| Q4 2015 | 2015-12-31 | 4.31% | −2.76 pp |
| Q3 2015 | 2015-09-30 | 5.89% | −1.42 pp |
| Q2 2015 | 2015-06-30 | 6.70% | −0.91 pp |
| Q1 2015 | 2015-03-31 | 7.15% | −0.11 pp |
| Q4 2014 | 2014-12-31 | 7.08% | +0.32 pp |
| Q3 2014 | 2014-09-30 | 7.31% | +0.16 pp |
| Q2 2014 | 2014-06-30 | 7.61% | +0.28 pp |
| Q1 2014 | 2014-03-31 | 7.26% | +0.55 pp |
| Q4 2013 | 2013-12-31 | 6.76% | +3.44 pp |
| Q3 2013 | 2013-09-30 | 7.14% | +0.69 pp |
| Q2 2013 | 2013-06-30 | 7.33% | +0.50 pp |
| Q1 2013 | 2013-03-31 | 6.71% | +0.21 pp |
| Q4 2012 | 2012-12-31 | 3.32% | −3.14 pp |
| Q3 2012 | 2012-09-30 | 6.45% | −0.35 pp |
| Q2 2012 | 2012-06-30 | 6.84% | −0.62 pp |
| Q1 2012 | 2012-03-31 | 6.49% | +0.00 pp |
| Q4 2011 | 2011-12-31 | 6.46% | +0.34 pp |
| Q3 2011 | 2011-09-30 | 6.80% | −0.38 pp |
| Q2 2011 | 2011-06-30 | 7.46% | +0.18 pp |
| Q1 2011 | 2011-03-31 | 6.49% | −0.30 pp |
| Q4 2010 | 2010-12-31 | 6.12% | +0.73 pp |
| Q3 2010 | 2010-09-30 | 7.18% | +2.51 pp |
| Q2 2010 | 2010-06-30 | 7.28% | +4.61 pp |
| Q1 2010 | 2010-03-31 | 6.79% | — |
| Q4 2009 | 2009-12-31 | 5.39% | — |
| Q3 2009 | 2009-09-30 | 4.68% | — |
| Q2 2009 | 2009-06-30 | 2.67% | — |
American Express return on equity trends
Over the last five fiscal years, American Express's return on equity increased from 13.61% to 33.99%, a change of +20.38 percentage points. The latest reported quarter, Q2 2026, shows 9.11%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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