American Express (AXP) FY2011 results: revenue $30.0 billion, up 8.6% on the year
American Express Co. (AXP) reported revenue of $30.0 billion for fiscal 2011, the year ended 31 December 2011, up 8.6% on the year before. Net income was $4.9 billion, up 21.6%, and diluted earnings per share $4.12. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2012.
Revenue
$30.0 billion
+8.6% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$4.9 billion
+21.6% on the year
FY2007FY2011
Diluted EPS
$4.12
+23.0% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
29,962
27,582
24,336
+8.6%
Operating income
n/a
n/a
2,841
Operating margin
n/a
n/a
11.7%
Interest expense
2,320
2,423
2,207
-4.3%
Pre-tax income
6,956
5,964
2,841
+16.6%
Income tax
2,057
1,907
704
+7.9%
Effective tax rate
29.6%
32.0%
24.8%
Net income
4,935
4,057
2,130
+21.6%
Net margin
16.5%
14.7%
8.8%
Diluted EPS
$4.12
$3.35
$1.54
+23.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
10,475
8,935
6,337
+17.2%
Capital expenditure
1,189
878
722
+35.4%
Free cash flow
9,286
8,057
5,615
+15.3%
Free cash flow margin
31.0%
29.2%
23.1%
Cash from investing
-491
-1,229
-6,752
Cash from financing
-1,384
-8,084
-4,647
Depreciation and amortisation
918
917
1,070
+0.1%
Share-based compensation
301
287
230
+4.9%
Buybacks
2,300
590
0.0
+289.8%
Dividends paid
861
867
924
-0.7%
Dividend per share
$0.72
$0.72
$0.72
0.0%
Diluted shares, weighted
1,184m
1,195m
1,171m
-0.9%
Shares outstanding at period end
1,164m
1,197m
1,192m
-2.8%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
18,794
18,794
12,637
0.0%
Deposits
37,898
29,727
26,289
+27.5%
Short-term borrowings
4,337
3,414
2,344
+27.0%
Debt
59,570
66,416
77,300
-10.3%
Other liabilities
32,738
28,338
6,575
+15.5%
Total liabilities and equity
153,337
146,689
125,145
+4.5%
Fixed assets
3,367
2,905
2,782
+15.9%
Goodwill
3,172
2,639
2,328
+20.2%
Intangible assets
1,149
972
717
+18.2%
Securities held for sale or to maturity
6,733
13,535
20,208
-50.3%
Loans
60,747
57,204
n/a
+6.2%
Cash and equivalents
n/a
654
4,064
Other assets
78,169
68,780
95,046
+13.7%
Total assets
153,337
146,689
125,145
+4.5%
10-K for the year ended 31 December 2011, filed 24 February 2012: the filing.