American Express (AXP) FY2017 results: revenue $36.9 billion, up 4.1% on the year
American Express Co. (AXP) reported revenue of $36.9 billion for fiscal 2017, the year ended 31 December 2017, up 4.1% on the year before. Net income was $2.7 billion, down 48.9%. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2018.
Revenue
$36.9 billion
+4.1% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$2.7 billion
-48.9% on the year
FY2010FY2017
Diluted EPS
n/a
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
36,878
35,438
32,818
+4.1%
Interest expense
2,112
1,704
1,623
+23.9%
Pre-tax income
7,414
8,042
7,938
-7.8%
Income tax
4,678
2,667
2,775
+75.4%
Effective tax rate
63.1%
33.2%
35.0%
Net income
2,748
5,375
5,163
-48.9%
Net margin
7.5%
15.2%
15.7%
Diluted EPS
n/a
n/a
$5.05
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
13,540
8,291
n/a
+63.3%
Capital expenditure
1,062
1,375
1,341
-22.8%
Free cash flow
12,478
6,916
n/a
+80.4%
Free cash flow margin
33.8%
19.5%
n/a
Cash from investing
-18,242
n/a
n/a
Cash from financing
12,245
n/a
n/a
Depreciation and amortisation
1,321
1,095
1,043
+20.6%
Share-based compensation
282
254
234
+11.0%
Buybacks
4,300
4,400
4,500
-2.3%
Dividends paid
1,251
1,207
1,172
+3.6%
Dividend per share
$1.34
$1.22
$1.13
+9.8%
Diluted shares, weighted
886m
935m
1,003m
-5.2%
Shares outstanding at period end
859m
904m
969m
-5.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
18,227
20,501
20,673
-11.1%
Deposits
64,452
53,042
54,997
+21.5%
Short-term borrowings
3,278
5,581
4,812
-41.3%
Debt
55,804
46,990
48,061
+18.8%
Other liabilities
39,398
32,779
32,641
+20.2%
Total liabilities and equity
181,159
158,893
161,184
+14.0%
Fixed assets
4,329
4,433
4,108
-2.3%
Goodwill
3,009
2,927
2,749
+2.8%
Intangible assets
899
868
796
+3.6%
Investments
70.0
n/a
n/a
Securities held for sale or to maturity
n/a
3,108
3,710
Loans
71,693
64,042
57,545
+11.9%
Cash and equivalents
33,264
25,494
23,239
+30.5%
Other assets
67,895
58,021
69,037
+17.0%
Total assets
181,159
158,893
161,184
+14.0%
10-K for the year ended 31 December 2017, filed 16 February 2018: the filing.