American Express (AXP) has maintained a high return on equity (ROE) despite rising expenses due to strategic investments in growth, brand visibility, and digital expansion, alongside disciplined credit management. While expenses for AXP and its competitors like Visa (V) and Mastercard (MA) are increasing, American Express leverages innovation and customer engagement to sustain strong returns and has returned significant value to shareholders through buybacks and dividends. AXP's stock has outperformed its industry year-to-date, and its valuation and earnings estimates suggest continued growth.

美国运通

<p>美国运通（AXP）尽管因战略性增长投资、品牌知名度提升和数字扩展而导致费用上升，但仍保持了高水平的股本回报率（ROE），同时实施了严格的信用管理。虽然美国运通及其竞争对手如 Visa（V）和 Mastercard（MA）的费用都在增加，但美国运通通过创新和客户参与来维持强劲的回报，并通过回购和分红为股东带来了可观的价值。AXP 的股票在年初至今的表现优于其行业，其估值和盈利预期表明将继续增长</p>

美国运通能否在费用不断增加的情况下保持其 ROE 的高水平表现？