How does American Express (AXP) make money?

American Express (AXP) primarily makes money through Global Consumer Services Group, which accounts for 47.9% of total revenue. For TTM through Q1 2026, American Express generated $82.41B in total revenue with a net profit margin of 13.6%.

What is American Express (AXP) gross profit margin?

American Express (AXP) reported a gross profit margin of 83.5% for TTM through Q1 2026, equivalent to $68.81B in gross profit. This means American Express retains 83.5% of each revenue unit after direct costs of production.

What is American Express (AXP) operating profit margin?

American Express (AXP) reported an operating profit margin of 20.7% for TTM through Q1 2026, equivalent to $17.06B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is American Express (AXP) net profit margin?

American Express (AXP) reported a net profit margin of 13.6% for TTM through Q1 2026, equivalent to $11.22B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does American Express (AXP) spend on capital expenditures?

American Express (AXP) spent $3.14B on capital expenditures in TTM through Q1 2026 (3.8% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is American Express (AXP) free cash flow?

American Express (AXP) generated $14.32B in free cash flow for TTM through Q1 2026 (17.4% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is American Express (AXP) effective tax rate?

American Express (AXP) had an effective tax rate of 21.2% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

How American Express (AXP) Makes Money: A Visual Guide

American Express (AXP) generated $82.41B in revenue, earning $11.22B in net profit (13.6% margin). Its largest revenue source is Global Consumer Services Group (47.9% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

American Express (AXP) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 23, 2026).

Frequently asked questions

How does American Express (AXP) make money?: American Express (AXP) primarily makes money through Global Consumer Services Group, which accounts for 47.9% of total revenue. For TTM through Q1 2026, American Express generated $82.41B in total revenue with a net profit margin of 13.6%.
What is American Express (AXP) gross profit margin?: American Express (AXP) reported a gross profit margin of 83.5% for TTM through Q1 2026, equivalent to $68.81B in gross profit. This means American Express retains 83.5% of each revenue unit after direct costs of production.
What is American Express (AXP) operating profit margin?: American Express (AXP) reported an operating profit margin of 20.7% for TTM through Q1 2026, equivalent to $17.06B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is American Express (AXP) net profit margin?: American Express (AXP) reported a net profit margin of 13.6% for TTM through Q1 2026, equivalent to $11.22B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does American Express (AXP) spend on capital expenditures?: American Express (AXP) spent $3.14B on capital expenditures in TTM through Q1 2026 (3.8% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is American Express (AXP) free cash flow?: American Express (AXP) generated $14.32B in free cash flow for TTM through Q1 2026 (17.4% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is American Express (AXP) effective tax rate?: American Express (AXP) had an effective tax rate of 21.2% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q1 2026.