{
  "slug": "american-express-company",
  "symbol": "AXP",
  "name": "American Express Company",
  "fiscalYearEnd": "2025-12-31",
  "filing": {
    "accession": "0000004962-26-000080",
    "form": "10-K",
    "filed": "2026-02-06",
    "url": "https://www.sec.gov/Archives/edgar/data/4962/000000496226000080/axp-20251231.htm"
  },
  "model": "claude-haiku-5-5",
  "promptVersion": "2026-10-31.2",
  "generatedAt": "2026-10-31T20:14:37.859838+00:00",
  "segments": null,
  "sections": {
    "businessModel": [
      {
        "de": "Das Unternehmen bietet Kredit- und Charge-Karten sowie ergänzende Produkte und Dienstleistungen, etwa für Reisen, Gastronomie, Lebensstil und Ausgabenmanagement.",
        "en": "The company offers credit and charge cards, plus complementary products and services such as travel, dining, lifestyle and expense management.",
        "quote": "Credit and charge cards and complementary products and services, including travel, dining, lifestyle and expense management products and services"
      },
      {
        "de": "Das Unternehmen bietet außerdem Bank-, Zahlungs- und Finanzierungsprodukte, darunter Einlagen und Kredite, die nicht an Karten gebunden sind.",
        "en": "The company also offers banking, payment and financing products, including deposits and loans that are not card-based.",
        "quote": "Banking and other payment and financing products and services, including deposits and non-card lending"
      },
      {
        "de": "Das Unternehmen bietet Händlern außerdem Dienste an, darunter Händlerakquise und Zahlungsabwicklung, Betrugsprävention und Marketing am Verkaufspunkt.",
        "en": "The company also offers services to merchants, including merchant acquisition and processing, fraud prevention, and point-of-sale marketing.",
        "quote": "Merchant acquisition and processing, servicing and settlement, fraud prevention, and point-of-sale marketing and information products and services"
      },
      {
        "de": "Das Unternehmen vereinbart mit Händlern einen Abschlagssatz. Das ist eine Gebühr, die dem Händler für die Annahme seiner Karten berechnet wird.",
        "en": "The company agrees on a discount rate with merchants. This is a fee charged to the merchant for accepting its cards.",
        "quote": "agreeing on the discount rate (a fee charged to the merchant for accepting our cards)"
      },
      {
        "de": "Das Unternehmen betreibt ein Zahlungsnetzwerk, das Transaktionen weltweit verarbeitet und abwickelt.",
        "en": "The company runs a payments network that processes and settles transactions worldwide.",
        "quote": "We operate a payments network that processes and settles transactions across the globe."
      }
    ],
    "customers": [
      {
        "de": "Zu den Kunden gehören Verbraucher, Kleinunternehmen, mittelgroße Unternehmen und Großunternehmen weltweit.",
        "en": "Customers include consumers, small businesses, mid-sized companies and large corporations around the world.",
        "quote": "to a broad range of customers, including consumers, small businesses, mid-sized companies and large corporations around the world"
      },
      {
        "de": "Kleinunternehmen und Firmenkunden machten 2025 etwa 41 Prozent des weltweit abgerechneten Transaktionsvolumens aus.",
        "en": "Small business and corporate clients made up about 41 percent of worldwide billed business in 2025.",
        "quote": "spending by small business and corporate clients, which comprised approximately 41 percent of our worldwide billed business during 2025"
      }
    ],
    "competition": [
      {
        "de": "Das Unternehmen belegt unter den Universal-Kartennetzwerken weltweit nach Kaufvolumen den vierten Platz, hinter Visa, China UnionPay und Mastercard.",
        "en": "The company ranks fourth among general-purpose card networks worldwide by purchase volume, behind Visa, China UnionPay and Mastercard.",
        "quote": "We are the fourth largest general-purpose card network globally based on purchase volume, behind Visa, China UnionPay and Mastercard."
      },
      {
        "de": "Das globale Kartennetzwerk konkurriert mit anderen Kartennetzwerken, unter anderem mit Visa, China UnionPay, Mastercard, JCB, Discover und Diners Club International.",
        "en": "The company's global card network competes with other card networks, including, among others, Visa, China UnionPay, Mastercard, JCB, Discover and Diners Club International.",
        "quote": "Our global card network competes in the global payments industry with other card networks, including, among others, Visa, China UnionPay, Mastercard, JCB, Discover and Diners Club International"
      },
      {
        "de": "Ein genannter Wettbewerbsfaktor sind Funktionen, Wert und Qualität der Produkte und Dienstleistungen, etwa Kundenbetreuung, Prämien und Angebote, Partnerschaften sowie Reise-, Lifestyle- und Geschäftsvorteile.",
        "en": "One competitive factor named is the features, value and quality of products and services, including customer care, rewards, offers and partnerships.",
        "quote": "The features, value and quality of the products and services, including customer care, rewards programs and offers, partnerships, travel-, lifestyle- and business-related benefits"
      }
    ],
    "risks": [
      {
        "de": "Das Delta-Cobrand-Portfolio machte zum 31. Dezember 2025 etwa 13 Prozent des weltweit abgerechneten Transaktionsvolumens und etwa 21 Prozent der Kredite an Karteninhaber aus.",
        "en": "The Delta cobrand portfolio made up about 13 percent of worldwide billed business and about 21 percent of Card Member loans as of December 31, 2025.",
        "quote": "the Delta cobrand portfolio continued to represent approximately 13 percent of worldwide billed business and approximately 21 percent of worldwide Card Member loans as of December 31, 2025"
      },
      {
        "de": "Das abgerechnete Transaktionsvolumen könnte sinken und die Kündigungsrate bei Karteninhabern könnte deutlich steigen, wenn eine oder mehrere Partnerschaften enden.",
        "en": "Billed business could fall, and Card Member attrition could rise significantly, if one or more partnership relationships end.",
        "quote": "Billed business could decline and Card Member attrition could increase, in each case, significantly as a result of the termination of one or more partnership relationships"
      },
      {
        "de": "Das Unternehmen steht unter anhaltendem, intensivem Wettbewerbsdruck, der die Preise, die es für die Annahme seiner Karten verlangt, wesentlich beeinflussen kann.",
        "en": "The company faces continued intense competitive pressure that may materially affect the prices it charges merchants for accepting its cards.",
        "quote": "We face continued intense competitive pressure that may materially impact the prices we charge for accepting our cards for payment"
      },
      {
        "de": "Die Regulierung von Kartengebühren hat die Discount-Erlöse des Unternehmens negativ beeinflusst und kann dies weiterhin tun.",
        "en": "Regulation of bankcard fees has negatively affected the discount revenue the company earns, and may continue to do so.",
        "quote": "regulation of bankcard fees has negatively impacted, and may continue to negatively impact, the discount revenue we earn"
      },
      {
        "de": "Dort, wo Zuschläge nicht verboten sind, hat das Unternehmen einen Anstieg von Händlerzuschlägen auf American-Express-Karten beobachtet, besonders in bestimmten Händlerkategorien.",
        "en": "Where surcharging is not banned, the company has seen more merchants add surcharges to American Express cards, particularly in certain merchant categories.",
        "quote": "In jurisdictions where surcharging is not prohibited, we have seen an increase in merchant surcharging on American Express cards, particularly in certain merchant categories"
      }
    ]
  }
}