AMERICAN EXPRESS CO vs Qfin Holdings, Inc., two Mortgage Finance stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
American Express and Qfin both profit from consumer credit, one as a global network with a balance sheet, the other as a Chinese platform matching borrowers to banks. The platform currently prints the better economics: a 31.1% net margin against 15.1%, a 36% free-cash yield against 6.1%, no debt against 1.78 turns. The market prices them four multiples apart in the other direction, 21.3 times for Amex against 5 for Qfin, the widest trust discount in consumer finance. Returns on equity, 33% against 24.7%, are the only line Amex wins cleanly. A 5 times multiple on those numbers is the market pricing regulatory and jurisdiction risk as near-certain erosion; the page shows what that fear costs per dollar of current profit.
Comparison updated 2026-07-10.
| Metric | AXP | QFIN |
|---|---|---|
| Price | $340.48 | $15.82 |
| Market cap | $233.6B | $4.3B |
| Sector | Financial Services | Financial Services |
| Stage | Mature | Mature |
| P/E | 21.3 | 5.0 |
| P/B | 6.87 | 1.25 |
| P/S | 3.15 | 1.57 |
| EV/EBITDA | — | 3.8 |
| Revenue growth | +10.5% | +1.7% |
| Operating margin | — | 34.8% |
| Net margin | 15.1% | 31.1% |
| Return on equity | 33.0% | 24.7% |
| Return on assets | 3.6% | 10.5% |
| Dividend yield | 1.0% | — |
| Debt / equity | 1.78 | 0.00 |
| Current ratio | — | 2.43 |
| Altman Z (solvency) | 0.87 | 2.49 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.