AMERICAN EXPRESS COMPANY FY 2025 10-K, explained in plain English

Key financials — as reported

Total revenue	$41.3B
Gross margin	— not reported
Operating income	— not reported
Net income	$10.8B
Diluted EPS	$15.38
Cash & equivalents	— not reported
Total assets	$300.1B
Long-term debt	$56.4B

Key takeaway

American Express reported $41.3 billion in revenue and $10.8 billion in net income for fiscal 2025, with diluted EPS of $15.38.

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Beneath the surface

Cash and equivalents (including restricted cash) totaled $47.8 billion against $56.6 billion in total debt, indicating a moderate net debt position of roughly $8.8 billion rather than the gross long-term debt figure alone suggesting.

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