As of Q4'25, American Express (AXP) reports a P/B Ratio of 7.59, marking the highest value observed in the covered period from Q1'23 to Q4'25. This latest data point reflects a continued upward trajectory in the company's price-to-book valuation. Over the analyzed period, the P/B Ratio for AXP has demonstrated a generally increasing trend, despite some fluctuations. After a dip to 3.78 in Q3'23, the ratio rebounded sharply, maintaining consistent growth with minor pullbacks, notably in Q1'25. The overall trend suggests strengthening investor confidence and a rising market premium relative to the company's book value.