Can American Express Stock Turn Investors into Millionaires?

American Express (AXP) has delivered robust shareholder returns over the past decade, with its stock price rising more than 200% since 2014, outpacing broader market indices. This momentum, driven by consistent revenue growth in card services and premium customer retention, positions AXP as a compelling candidate for long-term wealth accumulation. As of early 2026, the company's market capitalization exceeds $350 billion, reflecting investor confidence in its dominant position in the global consumer finance sector. The company’s annual dividend payout, which increased for 27 consecutive years, now stands at $3.40 per share, yielding approximately 1.2%—a modest figure but indicative of stable cash flow generation. Combined with a share buyback program that reduced outstanding shares by nearly 18% since 2020, these factors have significantly enhanced total shareholder return. An initial investment of $10,000 in AXP in 2014 would be worth over $30,000 today, illustrating the compounding power of sustained growth. However, recent valuation metrics suggest caution. With a forward P/E ratio near 25, AXP trades at a premium relative to the S&P 500 average, raising concerns about downside risk amid elevated interest rates and potential credit deterioration in consumer lending. Analysts project mid-single-digit earnings growth over the next three years, which may limit explosive appreciation despite strong fundamentals. Investors considering AXP as a 'millionaire maker' must weigh its track record against current macroeconomic pressures and high entry costs. For long-horizon investors focused on quality, dividend reliability, and brand strength, AXP remains a cornerstone holding—but it is not guaranteed to generate millionaire status without significant patience and consistent reinvestment.