American Express Cash Flow Statement
NYSE: AXPFinanceFinance: Consumer ServicesUSD
At close: Oct 9, 4:02 PM ET · Delayed 15 min
American Express free cash flow
In fiscal 2025, American Express generated $18.43 billion of operating cash flow and spent $2.42 billion on capital expenditures. That left free cash flow of $16.00 billion, a free-cash-flow margin of 38.7% of revenue. Free cash flow was up 31.8% from the prior year's $12.14 billion.
American Express returned $8.09 billion to shareholders: $2.27 billion in dividends and $5.81 billion in share repurchases, equal to 51% of free cash flow. Free cash flow covered dividend payments 7.0 times.
Summary generated from market data by MetaCap's automated system. Methodology
American Express cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 10.83B | 10.13B | 8.37B | 7.51B | 8.06B | 3.13B | 6.76B | 6.92B | 2.75B | 5.38B |
| Net Income growth (YoY) | +6.95% | +20.96% | +11.45% | -6.77% | +157.10% | -53.62% | -2.34% | +151.86% | -48.87% | +4.11% |
| Depreciation & Amortization | 1.78B | 1.68B | 1.65B | 1.63B | 1.70B | 1.54B | 1.19B | 1.29B | 1.32B | 1.09B |
| Stock-Based Compensation | 551.00M | 504.00M | 450.00M | 375.00M | 330.00M | 249.00M | 283.00M | 283.00M | 282.00M | 254.00M |
| Change in Working Capital | -2.78B | 1.01B | -1.24B | 1.39B | 1.07B | -1.78B | -368.00M | 991.00M | 398.00M | 206.00M |
| Operating Cash Flow | 18.43B | 14.05B | 18.56B | 21.08B | 14.64B | 5.59B | 13.63B | 8.93B | 13.54B | 8.29B |
| Capital Expenditures | -2.42B | -1.91B | -1.56B | -1.85B | -1.55B | -1.48B | -1.65B | -1.31B | -1.06B | -1.38B |
| Investing Cash Flow | -22.89B | -24.40B | -24.43B | -33.69B | -10.53B | 11.63B | -16.71B | -19.61B | -18.24B | 1.72B |
| Dividends Paid | -2.27B | -2.00B | -1.78B | -1.56B | -1.45B | -1.47B | -1.42B | -1.32B | -1.25B | -1.21B |
| Share Repurchases | -5.81B | -6.02B | -3.65B | -3.50B | -7.65B | -1.03B | — | -1.60B | -4.30B | -4.40B |
| Debt Issued | 24.38B | 12.60B | 15.67B | 23.23B | 7.79B | 69.00M | 12.71B | 21.52B | 32.76B | 8.82B |
| Debt Repaid | -18.16B | -10.76B | -10.70B | -18.91B | -11.66B | -15.59B | -13.85B | -18.89B | -24.08B | -9.85B |
| Financing Cash Flow | 11.21B | 4.44B | 18.38B | 24.51B | -14.93B | -9.07B | -519.00M | 5.10B | 12.24B | -7.60B |
| Net Change in Cash | 7.15B | -5.96B | 12.68B | 11.89B | -10.94B | 8.52B | -3.36B | -5.46B | 7.77B | 2.25B |
| Free Cash Flow | 16.00B | 12.14B | 17.00B | 19.22B | 13.10B | 4.11B | 11.99B | 7.62B | 12.48B | 6.92B |
This table shows 10 annual periods of American Express's cash flow statement, from FY 2025 back to FY 2016, across 14 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow AXP's reporting calendar. What is a cash flow statement?