AXP vs V: American Express and Visa compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Visa is the larger company, worth $757.8B, about 3.6 times American Express.
- Visa grew revenue faster over the last year (+17.1% vs +10.0%).
- On earnings, American Express is the cheaper stock (19.5x vs 34.8x).
- Visa's price assumes faster free cash flow growth: about 12% a year, against -0% for American Express (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AXP | V |
|---|---|---|
| Market cap | $212.9B | $757.8B |
| Share price | $308.17 | $385.45 |
| Revenue (last fiscal year) | $72.2B | $40.0B |
| Free cash flow (last fiscal year) | $16.0B | $21.6B |
| Revenue growth, last year | +10.0% | +17.1% |
| Revenue growth per year, last 5 fiscal years | +14.3% | +13.5% |
| Operating margin | — | 61.1% |
| Net margin | 15.1% | 51.7% |
| Return on equity | 33.4% | 62.4% |
| P/E (trailing) | 19.5x | 34.8x |
| Price / free cash flow | 13.3x | 35.1x |
| EV / EBITDA | 13.2x | 27.1x |
| FCF growth the price implies | -0.36% | 12.4% |
| Dividend yield | 1.1% | 0.66% |
| Debt / equity | 7.99x | 1.67x |
| Fundamental grade | C | B |
| Superinvestors holding it | 18 | 28 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
American Express
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $42.4B | $13.1B | — |
| 2022 | $52.9B | $19.2B | — |
| 2023 | $60.5B | $17.0B | — |
| 2024 | $65.9B | $12.1B | — |
| 2025 | $72.2B | $16.0B | — |
Visa
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $24.1B | $14.5B | 65.6% |
| 2022 | $29.3B | $17.9B | 64.2% |
| 2023 | $32.7B | $19.7B | 64.3% |
| 2024 | $35.9B | $18.7B | 65.7% |
| 2025 | $40.0B | $21.6B | 60.0% |
Where the revenue comes from
American Express · by segments, 2025
USCS$34.8B48%
CS$16.9B23%
ICS$13.0B18%
GMNS$7.8B11%
Visa · by products, 2025
Data processing revenue$20.0B36%
Service revenue$17.5B31%
International transaction revenue$14.2B25%
Other revenue$4.1B7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AXP in InvestinglyQuestions
Which is bigger, American Express or Visa?
Visa (V), at $757.8B against $212.9B.
Is AXP or V cheaper?
By trailing P/E, American Express (19.5x) is cheaper than Visa (34.8x). A lower multiple can also mean the market expects less growth.
Which grows faster, AXP or V?
Visa: revenue grew +17.1% over the last year, against +10.0%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.