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American Express AXP ICS — Goodwill

Other segment segments

CS
$2.74B+27.7%
USCS
$799M+3.5%
GMNS
$554M+0.5%

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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 ICS — goodwill?
American Express (AXP) reported ICS — goodwill of $775M in Q4 2025.
How has American Express's ICS — goodwill changed year-over-year?
American Express's ICS — goodwill increased by 8.2% year-over-year, from $716M to $775M.
What does ICS — goodwill mean?
Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations within the International Card Services segment. It reflects the value of intangible assets such as brand reputation, customer relationships, and proprietary technology that are not separately identifiable. This metric is subject to periodic impairment testing to ensure its carrying value remains supported by future cash flows.