Is American Express Stock a Millionaire Maker?

Investors have cheered for the success of American Express (NYSE: AXP). In the past five years, shares in the premium credit card company have produced a total return of 124% (as of March 10), lifted by steady financial gains. However, the market has tanked the share price 18% just this year.

There might be fears about the negative impact artificial intelligence will have on the job market and consumer spending behavior. The latest research from The Motley Fool highlights how professions that handle repetitive tasks are at risk of being automated over the next decade.

The worries for American Express seem overblown right now, though. The best investors consider opportunities not based on the latest news but with a long-term mindset. Does this stock have what it takes to be a millionaire maker?

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American Express operates from a position of strength

American Express had a strong showing in 2025. Revenue (net of interest expense) jumped 10% year over year to $72.2 billion. This growth occurred at a time when the economy is in a state of heightened uncertainty. Payment volume rose by 7% to $1.7 trillion, showcasing the scale that American Express has achieved.

Younger consumers are flocking to the company's offerings. "As of Q4, millennial and Gen Z customers now make up the largest share of U.S. consumer spending, and they remain the fastest-growing cohorts," CFO Christophe Le Caillec said on the Q4 2025 earnings call.

This is undoubtedly an encouraging trend to pay attention to. When it comes to winning over this valuable cohort, American Express is competing effectively not only against its traditional peers but also with more nimble fintech enterprises. Younger consumers naturally have a longer lifetime value, so starting that relationship early on is important for the business.

The company registered diluted earnings per share of 10% in 2025. And over the long term, the leadership team is targeting a mid-teens growth rate. American Express will lean on its strong brand presence and ability to increase payment volume, the number of active cards, and card fees to drive ongoing success.

Investors can capture a better valuation

It's clear that American Express is a high-quality business. That should put it on your radar as a possible portfolio addition.

Even better is the current offer from the market, which makes now a potentially worthwhile time to scoop up shares. The stock trades at a forward price-to-earnings ratio of 17.5. I don't view this as being an obvious bargain opportunity. However, if you've been waiting on the sidelines for a compelling entry point, now is your chance to make a move.

But just because American Express looks attractive at the current price doesn't mean that this is a millionaire-making financial stock. To fall into this bucket, there has to be a possibility that the shares can skyrocket 50-fold or 100-fold in the future. That's not going to happen with this business.

American Express is an advertising partner of Motley Fool Money. Neil Patel has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.