As of Q3'25, AXP's ROS stands at 22.3%, showing a moderate increase from the previous quarter's 21.6%. This latest data point reflects a recovery from the dip observed in Q4'24, where the ROS had fallen to 17.3%. Over the period from Q1'23 to Q3'25, AXP's ROS has exhibited a generally upward trend with some volatility. After an initial rise from 16.4% in Q1'23 to a peak of 25.2% in Q2'24, the metric experienced a notable decline in Q3'24 and Q4'24 before rebounding in 2025. The overall pattern suggests periods of strong margin expansion interspersed with short-term contractions, indicating both growth potential and sensitivity to operational or market factors.