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Side-by-side financial comparison of American Express (AXP) and AT&T (T). Click either name above to swap in a different company.
AT&T is the larger business by last-quarter revenue ($31.5B vs $18.9B, roughly 1.7× American Express). American Express runs the higher net margin — 15.7% vs 13.3%, a 2.4% gap on every dollar of revenue. On growth, American Express posted the faster year-over-year revenue change (11.4% vs 2.9%). Over the past eight quarters, American Express's revenue compounded faster (38.8% CAGR vs 2.8%).
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services. The company's products an...
AT&T Inc., an abbreviation of its predecessor's original name, the American Telephone and Telegraph Company, is an American multinational telecommunications conglomerate headquartered at the Whitacre Tower in Downtown Dallas, Texas. AT&T is the world’s third-largest telecommunications company by revenue, the third largest wireless carrier in the United States behind T-Mobile and Verizon, and the nation's biggest fiber internet provider.
AXP vs T — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $18.9B | $31.5B |
| Net Profit | $3.0B | $4.2B |
| Gross Margin | — | — |
| Operating Margin | — | 21.1% |
| Net Margin | 15.7% | 13.3% |
| Revenue YoY | 11.4% | 2.9% |
| Net Profit YoY | 15.0% | -10.9% |
| EPS (diluted) | $4.28 | $0.54 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $18.9B | $31.5B | ||
| Q4 25 | $10.9B | $33.5B | ||
| Q3 25 | $10.4B | $30.7B | ||
| Q2 25 | $10.3B | $30.8B | ||
| Q1 25 | $9.6B | $30.6B | ||
| Q4 24 | $10.0B | $32.3B | ||
| Q3 24 | $9.7B | $30.2B | ||
| Q2 24 | $9.8B | $29.8B |
| Q1 26 | $3.0B | $4.2B | ||
| Q4 25 | $2.5B | $3.8B | ||
| Q3 25 | $2.9B | $9.3B | ||
| Q2 25 | $2.9B | $4.5B | ||
| Q1 25 | $2.6B | $4.4B | ||
| Q4 24 | $2.2B | $4.1B | ||
| Q3 24 | $2.5B | $-174.0M | ||
| Q2 24 | $3.0B | $3.6B |
| Q1 26 | — | 21.1% | ||
| Q4 25 | 28.2% | 17.3% | ||
| Q3 25 | 36.7% | 19.9% | ||
| Q2 25 | 34.4% | 21.1% | ||
| Q1 25 | 34.6% | 18.8% | ||
| Q4 24 | 27.7% | 16.5% | ||
| Q3 24 | 33.0% | 7.0% | ||
| Q2 24 | 38.6% | 19.3% |
| Q1 26 | 15.7% | 13.3% | ||
| Q4 25 | 22.5% | 11.3% | ||
| Q3 25 | 27.9% | 30.3% | ||
| Q2 25 | 28.0% | 14.6% | ||
| Q1 25 | 26.8% | 14.2% | ||
| Q4 24 | 21.8% | 12.6% | ||
| Q3 24 | 25.8% | -0.6% | ||
| Q2 24 | 30.7% | 12.1% |
| Q1 26 | $4.28 | $0.54 | ||
| Q4 25 | $3.52 | $0.52 | ||
| Q3 25 | $4.14 | $1.29 | ||
| Q2 25 | $4.08 | $0.62 | ||
| Q1 25 | $3.64 | $0.61 | ||
| Q4 24 | $3.04 | $0.56 | ||
| Q3 24 | $3.49 | $-0.03 | ||
| Q2 24 | $4.15 | $0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $12.0B |
| Total DebtLower is stronger | $60.4M | $131.6B |
| Stockholders' EquityBook value | $34.0M | $125.6B |
| Total Assets | $308.9M | $421.2B |
| Debt / EquityLower = less leverage | 1.78× | 1.05× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.0B | ||
| Q4 25 | $742.0M | $18.2B | ||
| Q3 25 | $1.3B | $20.3B | ||
| Q2 25 | $197.0M | $10.5B | ||
| Q1 25 | $261.0M | $6.9B | ||
| Q4 24 | $221.0M | $3.3B | ||
| Q3 24 | $120.0M | $2.6B | ||
| Q2 24 | $188.0M | $3.1B |
| Q1 26 | $60.4M | $131.6B | ||
| Q4 25 | $56.4B | $127.1B | ||
| Q3 25 | $57.8B | $128.1B | ||
| Q2 25 | $58.2B | $123.1B | ||
| Q1 25 | $51.2B | $117.3B | ||
| Q4 24 | $49.7B | $118.4B | ||
| Q3 24 | $53.5B | $126.4B | ||
| Q2 24 | $51.5B | $125.4B |
| Q1 26 | $34.0M | $125.6B | ||
| Q4 25 | $33.5B | $126.5B | ||
| Q3 25 | $32.4B | $126.8B | ||
| Q2 25 | $32.3B | $121.4B | ||
| Q1 25 | $31.2B | $119.9B | ||
| Q4 24 | $30.3B | $118.2B | ||
| Q3 24 | $29.7B | $116.3B | ||
| Q2 24 | $29.5B | $119.3B |
| Q1 26 | $308.9M | $421.2B | ||
| Q4 25 | $300.1B | $420.2B | ||
| Q3 25 | $297.6B | $423.2B | ||
| Q2 25 | $295.6B | $405.5B | ||
| Q1 25 | $282.2B | $397.5B | ||
| Q4 24 | $271.5B | $394.8B | ||
| Q3 24 | $271.0B | $393.7B | ||
| Q2 24 | $272.2B | $398.0B |
| Q1 26 | 1.78× | 1.05× | ||
| Q4 25 | 1.68× | 1.00× | ||
| Q3 25 | 1.78× | 1.01× | ||
| Q2 25 | 1.80× | 1.01× | ||
| Q1 25 | 1.64× | 0.98× | ||
| Q4 24 | 1.64× | 1.00× | ||
| Q3 24 | 1.80× | 1.09× | ||
| Q2 24 | 1.74× | 1.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $7.6B |
| Free Cash FlowOCF − Capex | — | $2.5B |
| FCF MarginFCF / Revenue | — | 8.0% |
| Capex IntensityCapex / Revenue | — | 15.5% |
| Cash ConversionOCF / Net Profit | — | 1.82× |
| TTM Free Cash FlowTrailing 4 quarters | — | $17.2B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $7.6B | ||
| Q4 25 | $3.1B | $11.3B | ||
| Q3 25 | $6.2B | $10.2B | ||
| Q2 25 | $4.4B | $9.8B | ||
| Q1 25 | $4.8B | $9.0B | ||
| Q4 24 | $5.8B | $11.9B | ||
| Q3 24 | $-1.8B | $10.2B | ||
| Q2 24 | $4.5B | $9.1B |
| Q1 26 | — | $2.5B | ||
| Q4 25 | $2.3B | $4.5B | ||
| Q3 25 | $5.6B | $5.3B | ||
| Q2 25 | $3.7B | $4.9B | ||
| Q1 25 | $4.3B | $4.8B | ||
| Q4 24 | $5.3B | $5.1B | ||
| Q3 24 | $-2.3B | $4.9B | ||
| Q2 24 | $4.0B | $4.7B |
| Q1 26 | — | 8.0% | ||
| Q4 25 | 21.4% | 13.6% | ||
| Q3 25 | 53.6% | 17.1% | ||
| Q2 25 | 36.3% | 15.8% | ||
| Q1 25 | 45.0% | 15.6% | ||
| Q4 24 | 53.1% | 15.6% | ||
| Q3 24 | -23.3% | 16.3% | ||
| Q2 24 | 40.4% | 15.9% |
| Q1 26 | — | 15.5% | ||
| Q4 25 | 6.6% | 20.3% | ||
| Q3 25 | 6.3% | 15.9% | ||
| Q2 25 | 6.0% | 15.9% | ||
| Q1 25 | 4.5% | 14.0% | ||
| Q4 24 | 5.0% | 21.2% | ||
| Q3 24 | 4.7% | 17.5% | ||
| Q2 24 | 5.8% | 14.6% |
| Q1 26 | — | 1.82× | ||
| Q4 25 | 1.25× | 2.99× | ||
| Q3 25 | 2.15× | 1.09× | ||
| Q2 25 | 1.51× | 2.17× | ||
| Q1 25 | 1.84× | 2.08× | ||
| Q4 24 | 2.66× | 2.92× | ||
| Q3 24 | -0.72× | — | ||
| Q2 24 | 1.50× | 2.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXP
Segment breakdown not available.
T
| Service | $25.5B | 81% |
| Equipment | $6.0B | 19% |
