American Express (AXP) FY2023 results: revenue $60.5 billion, up 14.5% on the year
American Express Co. (AXP) reported revenue of $60.5 billion for fiscal 2023, the year ended 31 December 2023, up 14.5% on the year before. Net income was $8.4 billion, up 11.4%, and diluted earnings per share $11.21. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2024.
Revenue
$60.5 billion
+14.5% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$8.4 billion
+11.4% on the year
FY2016FY2023
Diluted EPS
$11.21
+13.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
18,559
21,079
14,645
-12.0%
Capital expenditure
1,563
1,855
1,550
-15.7%
Free cash flow
16,996
19,224
13,095
-11.6%
Free cash flow margin
28.1%
36.4%
30.9%
Cash from investing
-24,433
-33,689
-10,529
Cash from financing
18,379
24,509
-14,933
-25.0%
Depreciation and amortisation
1,651
1,626
1,695
+1.5%
Share-based compensation
450
375
330
+20.0%
Buybacks
3,650
3,502
7,652
+4.2%
Dividends paid
1,780
1,565
1,448
+13.7%
Dividend per share
$2.40
$2.08
$1.72
+15.4%
Diluted shares, weighted
736m
752m
790m
-2.1%
Shares outstanding at period end
723m
743m
761m
-2.7%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
28,057
24,711
22,177
+13.5%
Deposits
129,144
110,239
84,382
+17.1%
Short-term borrowings
1,293
1,348
2,243
-4.1%
Debt
47,866
42,573
38,675
+12.4%
Other liabilities
54,748
49,483
41,523
+10.6%
Total liabilities and equity
261,108
228,354
189,000
+14.3%
Fixed assets
5,138
5,215
4,988
-1.5%
Goodwill
3,851
3,786
3,804
+1.7%
Intangible assets
98.0
146
201
-32.9%
Investments
166
307
188
-45.9%
Cash and equivalents
46,596
33,370
21,503
+39.6%
Other assets
205,259
185,530
158,316
+10.6%
Total assets
261,108
228,354
189,000
+14.3%
10-K for the year ended 31 December 2023, filed 9 February 2024: the filing.