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Statement
Assets, liabilities and equity aligned across the annual filing history, in USD millions.
Assets
+10.5% YoYReported for FY 2025
Liabilities
+10.5% YoYReported for FY 2025
Equity
+10.6% YoYReported for FY 2025
Equity mix
+0.0 ppEquity share of the capital base
Table view
Balance sheet, reported dollar amounts — FY 2025
Every figure is the balance as filed. Each filing badge opens the SEC index page for that fiscal year.
Structure
Assets plotted against the liabilities and equity stack, so you can see how the balance sheet is financed.
Liabilities and equity stack to the capital base; assets are the dashed reference line.
Composition
The same split read as a share of total capital rather than in absolute dollars.
Percentages are measured against total capital for each fiscal year.
Trend
How assets, liabilities and equity have moved across the annual balance sheet window.
Switching between bar and line keeps the selected year order.
Commentary
This explanation uses an earlier data snapshot or evidence version. Compare its generation date with the current filing figures.
Earlier AI snapshot · Generated Jun 9, 2026. The filing-backed figures above are the current source of truth.
American Express has shown steady balance-sheet expansion over the last five years. Total assets increased from about $189.0 billion in 2021 to $300.1 billion in 2025, a gain of roughly 59%. Liabilities rose in parallel from $166.4 billion to $266.6 billion, reflecting the company’s asset-intensive financial services model, where growth in receivables, funding, and transaction-related obligations typically expands both sides of the balance sheet together. Equity also trended upward, from $22.2 billion to $33.5 billion, indicating that retained earnings and overall capital base have grown alongside the business. The pace of growth was strongest between 2021 and 2022 and remained solid through 2025, with assets and liabilities continuing to climb each year. Equity increased more moderately but consistently, from $22.2 billion in 2021 to $24.7 billion in 2022, $28.1 billion in 2023, $30.3 billion in 2024, and $33.5 billion in 2025. This suggests that American Express has been able to expand while gradually strengthening its capital position. In industry context, this is generally a healthy pattern for a large card and payments company, as long as asset growth is supported by credit performance and funding remains well controlled.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.