Filing Flows › American Express (AXP) › Operating margin
American Express (AXP) operating margin by quarter
American Express' operating margin was 22.6% in Q3 2026 (third quarter 2026), +1.9 pts from Q2 2026. Over the last 7 quarters it ranged from 16.3% (Q4 2025) to 22.6% (Q3 2026).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 22.6% | +1.9 pts | +1.8 pts |
| Q2 2026 | 20.7% | +0.7 pts | +0.9 pts |
| Q1 2026 | 20.0% | +3.7 pts | +0.4 pts |
| Q4 2025 | 16.3% | -4.5 pts | — |
| Q3 2025 | 20.8% | +0.9 pts | — |
| Q2 2025 | 19.9% | +0.3 pts | — |
| Q1 2025 | 19.6% | — | — |
Q3 2026 at a glance
American Express, Q3 2026: revenue $20.1B (+9% year over year), operating margin 22.6%, net earnings $3.7B, operating cash flow $5.4B. The chart follows the revenue to costs, profit and cash.
Questions
What is American Express' operating margin?
American Express' operating margin was 22.6% in Q3 2026 (third quarter 2026), +1.9 pts from Q2 2026.
How has American Express' operating margin changed?
Over the last 7 quarters it ranged from 16.3% (Q4 2025) to 22.6% (Q3 2026).