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Research Summary. American Express is one of the world’s most prestigious credit card companies. Though it does not lead the market, American Express has created its own premium brand that allows it to hold a special place among competitors.
American Express has a lot going for it, and it has the numbers to prove it. Take a look at the following statistics to understand the extent of American Express’s success:
American Express has 121.7 million cards globally.
American Express has 56.4 million cards in the United States alone.
American Express has a nearly 19% share of the domestic credit card market.
Over 64,000 people are employed by American Express.
In 2021, American Express pulled in $42.4 billion in revenue.
The market capitalization of American Express is currently estimated at $114.70 billion.
In 2021, American Express’s annual profit was $8 billion.
American Express had a very successful year. Their profits were a sizable portion of their revenue.
In 2021, American Express ranked 83 on the Fortune 500.
This was a slight decrease from their 67 ranking in 2020. However, American Express still holds a respectable place among successful businesses.
In 2021, American Express’s earnings per share was $10.22.
This was a jump from the previous year’s earnings per share of $3.77, highlighting great growth for American Express.
52.9% of American Express employees are women.
American Express has made conscious efforts to expand the role of women in their workplace. In fact, 40% of leaders in vice president positions and above are women.
Asian, Black/African American, and Hispanic people represented 19.5%, 13.3%, and 13.8%, respectively, of American Express’s employee demographics.
American Express is focused on achieving fair representation in its workforce. 12.3% of leaders in vice president positions and above are Asian, 9.8% are Black/African American, and 4.9% are Hispanic.
American Express ranks third in domestic market share by payments volume.
As the table below highlights, though the credit market in the United States is dominated by Visa, American Express comes in at a close third.
| Company | Market Share |
|---|---|
| Visa | 53.99% |
| Mastercard | 22.94% |
| American Express | 18.99% |
| Discover | 4.08% |
American Express ranks fourth in domestic market share by the number of cards in circulation.
These figures show that while American Express may have a greater payments volume market share than Discover Card, there are fewer cards in circulation. This would imply that users of American Express make larger payments.
| Company | Market Share |
|---|---|
| Visa | 49.54% |
| Mastercard | 34.52% |
| Discover | 8.39% |
| American Express | 7.55% |
There are 56.4 million American Express cards in the United States and 65.3 million internationally.
With a total of 121.7 million cards, American Express truly has a global reach in the credit card market. Though, as the name might imply, the company’s focus is on the United States.
$879 billion American Express credit card transactions were made in the United States in 2021.
Outside the United States, an additional $387.2 billion credit card transactions were made, bringing the total annual transactions to $1.28 trillion.
$7,370.58 was, on average, spent by each American Express card last year.
This comes to $614.21 per month per American Express card, highlighting that the average user is a big spender.
71.4 million American Express cards are proprietary cards-in-force, while 50.3 million cards-in-force are issued by third parties.
Broken down, this means that proprietary cards make up 58.7% of total American Express cards, leaving the remaining 41.3% to third parties such as banks.
American Express added nearly 10 million cards in 2021.
As the table below shows, American Express has steadily added cards over the course of the last decade.
| Year | Number of Cards (millions) |
|---|---|
| 2012 | 102.4 |
| 2013 | 107.2 |
| 2014 | 112.2 |
| 2015 | 117.8 |
| 2016 | 109.9 |
| 2017 | 112.8 |
| 2018 | 114.0 |
| 2019 | 114.4 |
| 2020 | 112.0 |
| 2021 | 121.7 |
American Express added about $8 billion in revenue in 2021.
After suffering a decrease in revenue in 2020, likely due to the Covid Pandemic, American Express saw a near return to pre-pandemic levels.
| Year | Annual Revenue (billions) |
|---|---|
| 2012 | $31.56 |
| 2013 | $32.87 |
| 2014 | $34.19 |
| 2015 | $32.81 |
| 2016 | $35.44 |
| 2017 | $36.88 |
| 2018 | $40.34 |
| 2019 | $43.56 |
| 2020 | $36.09 |
| 2021 | $42.38 |
American Express hired around 300 new employees in 2021.
After cutting back on employees in the mid-2010s, American Express is seeing good growth, which is reflected in its hiring trends.
| Year | Number of Employees |
|---|---|
| 2012 | 63,500 |
| 2013 | 62,800 |
| 2014 | 54,000 |
| 2015 | 54,800 |
| 2016 | 56,400 |
| 2017 | 55,000 |
| 2018 | 59,000 |
| 2019 | 64,500 |
| 2020 | 63,700 |
| 2021 | 64,000 |
Revenue increased by 17.43% between 2020 and 2021 for American Express.
This change in revenue is likely due to increased spending by consumers as the economy recovered from the Covid Pandemic.
In 2021, American Express’s earnings per share was higher than it was even in 2019.
American Express added $2 per share from 2019 to 2021.
| Year | ESP |
|---|---|
| 2019 | $8 |
| 2020 | $3.77 |
| 2021 | $10.02 |
After a significant drop in spending in 2020, spending both in the United States and around the world increased by double-digit percentage points in 2021.
These figures clearly indicate that the Covid Pandemic had a dramatic effect on spending for American Express cardholders.
| Year | U.S. Spending (billions) | Outside U.S. Spending (billions) | Total Spending (billions) |
|---|---|---|---|
| 2019 | $840.7 | $425.0 | $1,265.7 |
| 2020 | $708.1 | $329.7 | $1,037.8 |
| 2021 | $897.0 | $387.2 | $1,284.2 |
| Year | U.S. Spending Change (billions) | Outside U.S. Spending Change (billions) | Total Spending Change (billions) |
|---|---|---|---|
| 2019 | N/A | N/A | N/A |
| 2020 | -16% | -22% | -18% |
| 2021 | +27% | +17% | +24% |
What is American Express’s annual revenue?
In 2021 American Express made $42.38 billion in revenue. The year before, there was a significant drop in revenue to $36.09 billion. However, American Express is back on the right track.
The company made almost the same amount of revenue in 2021 as it did in 2019, which, considering the effect the Covid Pandemic had on the economy, is a quick rebound. Still, American Express will be looking to grow its revenue in 2022.
Is American Express profitable?
Yes, American Express is very profitable. The company made about $8 billion in profits in 2021 and was able to bring its earnings per share to around $10. Along with the positive trajectory that American Express’s growth has shown in the last several years, it is clear that it is a company worthy of investing in.
What is American Express’s net worth?
American Express has a net worth of $144 billion. Clearly, American Express is a large company with many assets and value to the economy. Since it ranks third in the domestic credit card market share in terms of volume of transactions, it should come as no surprise that American Express is valued so highly.
How many cardholders does American Express have?
American Express has a total of 121.7 million cardholders. In the United States alone, there are 56.4 million cardholders, with the remaining 65.3 million being international cardholders. 71.4 of American Express cards are proprietary cards-in-force, while 50.3 million are cards-in-force issued by third parties such as banks.
How much does the average American Express cardholder spend each year?
In 2021, the average American Express cardholder spent $7,370.58 for the year.
This number would explain why even though American Express ranks fourth in the domestic credit card market share in terms of the number of cards in circulation, yet ranks third in market share in terms of transaction volume. American Express cardholders are big spenders.
American Express is one of the biggest credit card companies in the United States. It’s also one of the most important businesses in the country, ranking 83 on the 2021 Fortune 500 list. This makes sense because credit is a huge factor in the economy. Most consumers, especially for large purchases, buy on credit.
American Express is a valuable company, with projections for even bigger growth in the future. American Express is also a company that values its employees, looking to diversify its workforce and provide equitable opportunity.
As long as American Express continues on this path, there is no reason why it shouldn’t be a major player not only in the credit card market but in the economy as a whole.
United States Securities Exchange. “American Express 2022 Form 10-K.” Accessed May 12, 2022.
Upgraded Points. “U.S. Credit Card Market Share by Network & Issuer – Facts & Statistics.” Accessed May 12, 2022.
Companies Market Cap. “American Express.” Accessed May 12, 2022.
Fortune. “Fortune 500: American Express.” Accessed May 12, 2022.
Consumer Financial Protection Bureau. “The Consumer Credit Card Market.” Accessed May 12, 2022.
Expanded Ramblings. “American Express Statistics, Revenue Totals, Facts & News (2022).” Accessed May 12, 2022.
American Express. “American Express 2021 Annual Report.” Access May 12, 2022.
American Express. “2021 Inaugural Report: Diversity, Equity & Inclusion.” Accessed May 12, 2022.