What is American Express's CS — goodwill?

American Express (AXP) reported CS — goodwill of $2.74B in Q4 2025.

How has American Express's CS — goodwill changed year-over-year?

American Express's CS — goodwill increased by 27.7% year-over-year, from $2.15B to $2.74B.

What does CS — goodwill mean?

Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations within the commercial services segment. It reflects the value of intangible assets such as brand reputation, customer relationships, and synergies specific to the commercial card and payment services business.

American Express AXP CS — Goodwill

Other segment segments

USCS

$799M+3.5%

ICS

$775M+8.2%

GMNS

$554M+0.5%

Similar metrics at other companies

ELACommercial — Goodwill

$3.62M0.0%

PRCHConsumer Services — Goodwill

$34.54M0.0%

CNACommercial — Goodwill

$0—

VRRMCommercial Services — Goodwill

$424.35M+0.6%

HURNCommercial: — Goodwill

$124.42M+54.3%

WUConsumer Services — Goodwill Including Assets Held For Sale

$112.1M+46.9%

Other financials

Income statement

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Revenue$19.6B+10.0%

Net income$3.1B+7.8%

EPS (diluted)$4.53+11.0%

Balance sheet

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Cash & equivalents$45.2B-21.9%

Total debt$59.0B-1.1%

Total equity$34.3B+6.1%

Total assets$308.20B+4.3%

Cash flow

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Operating cash flow$5.4B+23.1%

CapEx$898.0M+45.1%

Free cash flow$4.5B+19.4%

Valuation

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Market cap$222.55B+2.9%

Enterprise value$236.36B+8.4%

P/E19.5×-1.9×

P/S2.9×-0.2×

Profitability

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Net margin15.1%+0.3pp

FCF margin19.8%—

Returns & leverage

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Return on equity34.4%+1.6pp

Debt / equity1.7×-0.1×

Where this comes from

Reported directly by American Express in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The official record: American Express’s 10-K, filed February 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Express's CS — goodwill?: American Express (AXP) reported CS — goodwill of $2.74B in Q4 2025.
How has American Express's CS — goodwill changed year-over-year?: American Express's CS — goodwill increased by 27.7% year-over-year, from $2.15B to $2.74B.
What does CS — goodwill mean?: Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations within the commercial services segment. It reflects the value of intangible assets such as brand reputation, customer relationships, and synergies specific to the commercial card and payment services business.