Added to YB: 2026-08-06
Pitch date: 2026-08-03
AXP [neutral]
American Express Company
+1.16%
current return
Author Info
Bob’s Payment Stock Substack is a former analyst and portfolio manager. Fundamental buy-and-hold investor. Talking stocks and markets. Focus on Payments, Financial Technology, and Payroll and HCM. Sign up for the newsletter.
Company Info
American Express Company, together with its subsidiaries, operates as an integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and internationally.
Market Cap
$234.1B
Pitch Price
$345.00
Price Target
445.00 (+28%)
Dividend
1.10%
EV/EBITDA
N/A
P/E
21.05
EV/Sales
N/A
Sector
Consumer Finance
Category
value
American Express: Still Work to Do
AXP (overview): Re-rated from 12x to 22x NTM EPS; discount to V/MA narrowed to 24% vs 47% 10yr avg, now back to 32%. Losing US commercial share (Brex/Ramp) + not gaining affluent share; margin gains driven by non-recurring items. 2026E EPS $17.47 (+14%), 2027E $19.56 vs $20.12 cons. DCF FV $373 (~11% upside) at 10% WACC; $445 at 9%. Not compelling vs Adyen, Broadridge, Intuit.
Read full article (9 min)