American Express

Analyst Listings

The following analysts provide coverage for the subject firm as of May 2016:

Broker Analyst Analyst Email
DA Davidson Arren Cyganovich
Oppenheimer Ben Chittenden
Nomura Research Bill Carcache
Stifel Nicolaus Christopher C. Brendler
Sandler O’Neill & Partners Christopher R. Donat
Drexel Hamilton David Hilder
Deutsche Bank Research David Ho
JMP Securities David M. Scharf
Evercore ISI David Togut
Guggenheim Securities Eric Wasserstrom
BMO Capital Markets James Fotheringham
Susquehanna Financial Group James Friedman
RBC Capital Markets Jason Arnold
Piper Jaffray Jason Deleeuw
Wells Fargo Securities Jason Harbes
Jefferies John Hecht
Compass Point Research John T. Williams
Pacific Crest Securities-KBCM Josh Beck
Bernstein Research Kevin St. Pierre
Credit Suisse Moshe Orenbuch
Keefe Bruyette & Woods Sanjay Sakhrani

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Primary Input Data

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Derived Input Data

Derived Input Label



Equational Form
Net Income NI  5,125  5,365 NI\, =\, EBIT\,\,-\,Interest\,\, Expense\,\, -\,\, Taxes\,\, Paid
Cash Flow From Equity CFE 5,125 5,537 CFE\,=\,\,NI\,\,-\,\,\Delta\,\,TE\,\,+\,\,OCI
Total Equity TE 20,673 20,501 TE\,=\,Total\,\,Assets\,\,-\,\,Total\,\,Long-Term\,\,Debt
Return on Equity ROE 24.79% 26.17% ROE\,=\,\frac { NI}{TE}
Net Investment NetInv  –  (172) NetInv\,=\,{ {TE}_{1}}-{{TE}_{0}}
Investment Rate IR 0.00% -3.21% IR\,=\,\frac {NetInv}{NI}
Cost of Equity
COE 0.84% -0.62% COE \,=\,R_{F}\,\,+\,\,(R_{M}\,-\,R_{F})\beta
Enterprise value
EVMarket 44,673 41,875 EV\,=\,Market\,\,Cap\,\,Equity\,-\,Cash
Long-Run Growth
g = IR x ROIC
0.00% -0.84% Long-run growth rates of the income variable are used in the Continuing Value portion of the valuation models.
g = % \Delta GDP  2.50%  2.50%

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Valuation Multiple Outcomes

The outcomes presented in this study are the result of original input data, derived data, and synthesized inputs.

Equational Form

Observed Value


multiple g solution

Two-stage valuation

model g solution

12/31/2015 12/31/2016 12/31/2015 12/31/2016 12/31/2015 12/31/2016


\frac {Price}{Book\,\,Value} \,= \,\frac{ROE\, -\, g}{ROE\,(COE\,-\,g)}


\frac {Price}{Cash\,\,Earnings} \,= \,\frac{ROE\, -\, g}{ROE\,(COE\,-\,g)}\,(\frac{NI}{CE})


\frac {Price}{Book\,\, Value} \,= \,\frac{ROE\, -\, g}{ROIC\,(COE\,-\,g)}\,\,x\,\,ROE\,\,=\,\,\frac{ROE\,\,-\,\,g}{COE\,\,-\,\,g}

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