American Express vs SoFi: Two Financial Giants Vie for Supremacy

American Express (AXP) and SoFi Technologies (SOFI) represent two vastly different approaches to the financial industry.

While American Express relies on its premium membership model, with nearly 86.6 million proprietary cards worldwide as of late 2025, SoFi Technologies aims to be a one-stop-shop for all digital banking needs, serving almost 14.7 million members.

American Express's revenue reached roughly $80.5 billion in FY 2025, growing by around 10% from the previous year, with a net income of approximately $10.8 billion and a net margin of about 14%. The company's debt-to-equity ratio is nearly 1.7x.

SoFi Technologies' revenue grew to close to $4.8 billion in FY 2025, an increase of around 28.8% over the prior year, with a net income of approximately $481.3 million and a net margin of nearly 10.1%. The company's debt-to-equity ratio is about 0.2x.

American Express faces intense competition from established networks like Visa and Mastercard, as well as risks related to its premium fee-based model. SoFi Technologies must navigate the complexities of being a bank holding company under regulatory oversight.