---
title: American Express (AXP) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/axp
ticker: AXP
as_of: 2026-10-17
sector: Financial Services
industry: Financial - Credit Services
---
# American Express (AXP)

American Express (AXP) closed at $313.59 on Oct 16, 2026, overvalued by 23% vs its model value of $255.37 (from its peers' median P/E).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $313.59 (Oct 16, 2026) |
| Model value (from its peers' median P/E) | $255.37 |
| Price vs model | overvalued by 23% vs model |
| Range of that model | $195.80 – $421.32 |
| Market value | $211.8B |
| P/E (fiscal 2025) | 20.4 |
| Net margin (fiscal 2025) | 13.5% |
| Free cash flow (fiscal 2025) | $16.0B |
| Dividend yield (trailing twelve months) | 1.17% |
| Beta | 1.08 |
| Cost of capital (WACC) | 9.84% |
| Business classification | Mature & Stable (Low/slowing growth (~5% recent), High profitability (26% net margin), Pays dividends, Highly cyclical earnings, Strong FCF yield (7.6%)) |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 1.17% |
| Dividends per share, last 12 months | $3.67 |
| Dividends / earnings (fiscal 2025) | 21.0% |
| Raised | 4 years in a row |
| Growth over 5 years | 16.4% a year |
| Latest payment | $0.95, ex-date Oct 9, 2026, paid Nov 10, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Oct 7, 2021 | $1.72 |
| To Oct 13, 2022 | $1.99 |
| To Oct 5, 2023 | $2.32 |
| To Oct 4, 2024 | $2.70 |
| To Oct 10, 2025 | $3.16 |
| Trailing twelve months (to Oct 9, 2026) | $3.67 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/E · peers | primary | $255.37 | $195.80 | $421.32 |
| P/E · own history | cross check | $327.37 | $274.81 | $369.35 |
| PEG | sanity check | $262.49 | $262.49 | $262.49 |
| Dividend discount | cross check | $77.05 | $53.69 | $121.72 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($3.0M); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 30, 2026 | Young Christopher David | Director | Grant / award | 128.102 | $39,999.8 |
| Sep 30, 2026 | WARDELL LISA W | Director | Grant / award | 120.096 | $37,500 |
| Sep 30, 2026 | Wallace Noel R. | Director | Grant / award | 116.093 | $36,250 |
| Sep 30, 2026 | PHILLIPS JR CHARLES E | Director | Grant / award | 60.048 | $18,750 |
| Sep 30, 2026 | Majoras Deborah P | Director | Grant / award | 58.046 | $18,124.9 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 15, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/4962/000000496226000383/axp-20261015.htm |
| Oct 8, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/4962/000000496226000376/axp-20261008.htm |
| Sep 15, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/4962/000000496226000353/axp-20260915.htm |
| Aug 17, 2026 | 8-K | 7.01 Regulation FD Disclosure | https://www.sec.gov/Archives/edgar/data/4962/000000496226000345/axp-20260817.htm |
| Aug 12, 2026 | 8-K | 3.03 Modification to Security-Holder Rights; 5.03 Amendment to Articles/Bylaws; 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/4962/000000496226000338/axp-20260812.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Buffett | 2026-06-30 | 151,610,700 | $51.3B |
| First Eagle | 2026-06-30 | 1,680,147 | $568.3M |
| Thomas Gayner | 2026-06-30 | 490,450 | $165.9M |
| Dodge & Cox | 2026-06-30 | 271,279 | $91.8M |

16 tracked managers in all.

## About

Operating globally, American Express Company and its affiliated entities deliver a comprehensive suite of charge and credit payment card solutions, alongside a variety of travel-related offerings. Its business structure is organized into three primary divisions: the Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Among its core offerings are diverse payment and financing instruments, robust network infrastructure services, tools for managing accounts payable expenses, and comprehensive travel and lifestyle support. Furthermore, it facilitates merchant services such as acquisition, transaction processing, settlement, and point-of-sale marketing, providing vital information and assistance to businesses. The company also specializes in fraud mitigation and developing and managing customer loyalty initiatives. These products and services…

---

Source: https://sweetvaluelab.com/stocks/axp (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.