American Express (AXP) FY2019 results: revenue $43.6 billion, up 8.0% on the year
American Express Co. (AXP) reported revenue of $43.6 billion for fiscal 2019, the year ended 31 December 2019, up 8.0% on the year before. Net income was $6.8 billion, down 2.3%, and diluted earnings per share $7.99. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2020.
Revenue
$43.6 billion
+8.0% on the year
FY2012FY2019
Operating margin
n/a
FY2012FY2019
Net income
$6.8 billion
-2.3% on the year
FY2012FY2019
Diluted EPS
$7.99
+1.0% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
43,556
40,338
36,878
+8.0%
Interest expense
3,464
2,943
2,112
+17.7%
Pre-tax income
8,429
8,122
7,414
+3.8%
Income tax
1,670
1,201
4,678
+39.1%
Effective tax rate
19.8%
14.8%
63.1%
Net income
6,759
6,921
2,748
-2.3%
Net margin
15.5%
17.2%
7.5%
Diluted EPS
$7.99
$7.91
n/a
+1.0%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
13,632
8,930
13,540
+52.7%
Capital expenditure
1,645
1,310
1,062
+25.6%
Free cash flow
11,987
7,620
12,478
+57.3%
Free cash flow margin
27.5%
18.9%
33.8%
Cash from investing
-16,707
-19,615
-18,242
Cash from financing
-519
5,101
12,245
Depreciation and amortisation
1,188
1,293
1,321
-8.1%
Share-based compensation
283
283
282
0.0%
Buybacks
n/a
1,600
4,300
Dividends paid
1,422
1,324
1,251
+7.4%
Dividend per share
$1.64
$1.48
$1.34
+10.8%
Diluted shares, weighted
830m
859m
886m
-3.4%
Shares outstanding at period end
810m
847m
859m
-4.4%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
23,071
22,290
18,227
+3.5%
Deposits
73,287
69,960
64,452
+4.8%
Short-term borrowings
6,442
3,100
3,278
+107.8%
Debt
57,835
58,423
55,804
-1.0%
Other liabilities
37,686
35,227
39,398
+7.0%
Total liabilities and equity
198,321
189,000
181,159
+4.9%
Fixed assets
4,834
4,416
4,329
+9.5%
Goodwill
3,315
3,072
3,009
+7.9%
Intangible assets
267
275
899
-2.9%
Investments
223
166
70.0
+34.3%
Loans
84,998
79,720
71,693
+6.6%
Cash and equivalents
24,446
27,808
33,264
-12.1%
Other assets
80,238
73,543
67,895
+9.1%
Total assets
198,321
189,000
181,159
+4.9%
10-K for the year ended 31 December 2019, filed 13 February 2020: the filing.