American Express Has Cut Its Share Count by 27% Since 2016. Here's What That Did for the Stock.

American Express has reduced its share count by 26.8% over the past decade through aggressive stock buybacks, contributing to a 352% increase in diluted EPS despite net income growing only 228%. The stock delivered a 471% total return, significantly outperforming the S&P 500. With a strong economic moat built on its premium brand and network effects, AXP trades at a reasonable forward P/E of 16.2, with management targeting mid-teens EPS growth annually.