American Express (AXP) FY2018 results: revenue $40.3 billion, up 9.4% on the year
American Express Co. (AXP) reported revenue of $40.3 billion for fiscal 2018, the year ended 31 December 2018, up 9.4% on the year before. Net income was $6.9 billion, up 151.9%, and diluted earnings per share $7.91. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2019.
Revenue
$40.3 billion
+9.4% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$6.9 billion
+151.9% on the year
FY2011FY2018
Diluted EPS
$7.91
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
40,338
36,878
35,438
+9.4%
Interest expense
2,943
2,112
1,704
+39.3%
Pre-tax income
8,122
7,414
8,042
+9.5%
Income tax
1,201
4,678
2,667
-74.3%
Effective tax rate
14.8%
63.1%
33.2%
Net income
6,921
2,748
5,375
+151.9%
Net margin
17.2%
7.5%
15.2%
Diluted EPS
$7.91
n/a
n/a
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
8,930
13,540
8,291
-34.0%
Capital expenditure
1,310
1,062
1,375
+23.4%
Free cash flow
7,620
12,478
6,916
-38.9%
Free cash flow margin
18.9%
33.8%
19.5%
Cash from investing
-19,615
-18,242
n/a
Cash from financing
5,101
12,245
n/a
-58.3%
Depreciation and amortisation
1,293
1,321
1,095
-2.1%
Share-based compensation
283
282
254
+0.4%
Buybacks
1,600
4,300
4,400
-62.8%
Dividends paid
1,324
1,251
1,207
+5.8%
Dividend per share
$1.48
$1.34
$1.22
+10.4%
Diluted shares, weighted
859m
886m
935m
-3.0%
Shares outstanding at period end
847m
859m
904m
-1.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
22,290
18,227
20,501
+22.3%
Deposits
69,960
64,452
53,042
+8.5%
Short-term borrowings
3,100
3,278
5,581
-5.4%
Debt
58,423
55,804
46,990
+4.7%
Other liabilities
35,227
39,398
32,779
-10.6%
Total liabilities and equity
189,000
181,159
158,893
+4.3%
Fixed assets
4,416
4,329
4,433
+2.0%
Goodwill
3,072
3,009
2,927
+2.1%
Intangible assets
275
899
868
-69.4%
Investments
166
70.0
n/a
+137.1%
Securities held for sale or to maturity
n/a
n/a
3,108
Loans
79,720
71,693
64,042
+11.2%
Cash and equivalents
27,808
33,264
25,494
-16.4%
Other assets
73,543
67,895
58,021
+8.3%
Total assets
189,000
181,159
158,893
+4.3%
10-K for the year ended 31 December 2018, filed 13 February 2019: the filing.