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.

美國運通

<p>美國運通（AXP）儘管因戰略性增長投資、品牌知名度提升和數字擴展而導致費用上升，但仍保持了高水平的股本回報率（ROE），同時實施了嚴格的信用管理。雖然美國運通及其競爭對手如 Visa（V）和 Mastercard（MA）的費用都在增加，但美國運通通過創新和客户參與來維持強勁的回報，並通過回購和分紅為股東帶來了可觀的價值。AXP 的股票在年初至今的表現優於其行業，其估值和盈利預期表明將繼續增長</p>

美國運通能否在費用不斷增加的情況下保持其 ROE 的高水平表現？