Capital One Financial Corporation

COF · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Valuation
Market cap	$154,076	$68,031	$49,937	$35,483	$61,754	$42,073	$43,801	$32,173	$42,383	$37,131	$38,403	$46,484	$44,411	$32,505	$19,263	$19,241	$16,415	$11,991	$18,445	$23,782	$22,391	$19,841	$13,785	$6,537	$11,318	$12,932	$9,510	$7,535	$3,576	$2,420	$1,540	$1,057
Enterprise value	$51,932	($13,102)	($23,079)	($23,944)	($12,475)	($58,604)	$6,536	($5,332)	$21,673	$18,681	$24,798	$25,457	$16,968	($36,889)	($23,180)	$21,299	$4,002	$10,623	$31,368	$37,652	$26,353	$34,942	$26,618	$17,549	$19,942	$19,671	$16,224	$12,716	$7,864	$6,416	$3,969	$2,614
P/E (TTM) at period end	70.64×	15.31×	10.90×	5.04×	5.16×	17.71×	8.44×	5.63×	24.87×	10.57×	9.92×	10.70×	10.96×	9.39×	6.17×	7.01×	51.30×	–	11.75×	9.85×	12.38×	12.85×	12.14×	7.27×	17.63×	27.54×	26.19×	27.38×	18.88×	15.58×	12.17×	11.10×
P/S (TTM) at period end	2.88×	1.74×	1.36×	1.04×	2.03×	1.48×	1.53×	1.15×	1.56×	1.46×	1.64×	2.09×	1.98×	1.52×	1.18×	1.19×	1.26×	0.86×	0.97×	1.57×	1.85×	1.86×	1.41×	0.68×	1.53×	2.34×	2.40×	2.90×	2.00×	1.70×	1.52×	1.61×
P/B at period end	1.36×	1.12×	0.86×	0.67×	1.01×	0.70×	0.76×	0.62×	0.87×	0.78×	0.81×	1.03×	1.07×	0.80×	0.65×	0.72×	0.62×	0.45×	0.76×	0.94×	1.58×	2.37×	2.28×	1.41×	3.41×	6.59×	6.27×	5.93×	4.00×	3.27×	2.57×	2.23×
EV / EBITDA (TTM)	6.89×	(1.43×)	(2.49×)	(1.92×)	(0.65×)	(8.74×)	0.64×	(0.55×)	2.73×	2.36×	3.11×	2.97×	1.96×	(5.24×)	(4.49×)	4.39×	1.98×	11.64×	6.90×	8.93×	8.10×	12.74×	12.04×	9.57×	14.52×	19.63×	21.64×	23.03×	22.34×	22.10×	16.88×	15.68×
EV / Sales (TTM)	0.97×	(0.33×)	(0.63×)	(0.70×)	(0.41×)	(2.05×)	0.23×	(0.19×)	0.80×	0.73×	1.06×	1.14×	0.76×	(1.72×)	(1.42×)	1.32×	0.31×	0.76×	1.65×	2.48×	2.18×	3.28×	2.72×	1.82×	2.70×	3.56×	4.09×	4.89×	4.40×	4.51×	3.93×	3.99×
Returns
Return on equity	1.9%	7.3%	7.9%	13.4%	19.6%	3.9%	9.0%	11.1%	3.5%	7.4%	8.2%	9.6%	9.7%	8.6%	10.5%	10.3%	1.2%	(0.3%)	6.5%	9.6%	12.8%	18.4%	18.8%	19.5%	19.3%	23.9%	24.0%	21.7%	21.2%	21.0%	21.1%	20.1%
Return on invested capital	1.3%	4.6%	4.7%	7.7%	12.4%	2.8%	5.0%	5.7%	2.0%	3.6%	3.9%	4.9%	5.4%	4.2%	4.2%	4.1%	1.8%	0.1%	4.4%	4.4%	5.4%	6.4%	5.8%	5.6%	5.4%	5.4%	4.4%	4.3%	3.7%	3.3%	4.2%	4.5%
Dividend yield	1.0%	1.4%	1.9%	2.7%	1.9%	1.1%	1.7%	2.4%	1.8%	2.2%	2.1%	1.5%	1.2%	0.3%	0.5%	0.5%	1.3%	4.7%	0.2%	0.1%	0.1%	0.1%	0.2%	0.4%	0.2%	0.2%	0.2%	0.3%	0.6%	0.9%	1.0%	–
Financial health
Current ratio	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	0.44×	0.39×	0.33×	0.28×	0.47×	0.18×	0.26×	0.20×	0.19×	0.13×	0.14×	0.32×	0.13×	0.39×	0.59×	0.21×
Debt / equity	0.45×	0.75×	0.86×	0.93×	0.71×	0.67×	0.96×	1.14×	1.24×	1.27×	1.25×	1.08×	0.98×	1.23×	1.34×	1.57×	0.79×	1.21×	1.54×	1.35×	1.58×	1.97×	2.45×	2.58×	2.81×	3.55×	4.59×	4.31×	5.07×	6.11×	5.51×	4.35×
Effective tax rate	8.5%	19.7%	19.2%	20.3%	21.6%	15.2%	19.5%	17.7%	61.5%	31.3%	31.8%	32.7%	34.7%	29.3%	29.1%	29.6%	26.1%	85.4%	33.0%	33.9%	36.0%	34.6%	37.0%	38.0%	38.0%	38.0%	37.1%	38.0%	38.0%	37.5%	36.0%	35.1%
Share count
Diluted shares outstanding	541	384	383	393	444	459	470	483	489	510	548	572	588	566	459	456	431	378	396	317	269	249	234	229	221	210	211	208	203	202	198	198

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994
Revenue and gross profit
Revenue	$67,021	$53,434	$39,112	$36,787	$34,250	$30,435	$28,523	$28,593	$28,076	$27,237	$25,501	$23,413	$22,290	$22,384	$21,396	$16,279	$16,171	$12,983	$13,893	$19,027	$15,166	$12,085	$10,663	$9,784	$9,648	$7,385	$5,519	$3,966	$2,600	$1,787	$1,424	$1,010	$656
Cost of revenue	–	–	–	–	–	–	–	–	–	–	($8,477)	($6,161)	($5,120)	($5,245)	($6,790)	–	–	–	–	($7,185)	($4,550)	($3,538)	($3,012)	($3,100)	($3,611)	($2,291)	($1,614)	($924)	($684)	($598)	($462)	($315)	($124)
Gross profit	–	–	–	–	–	–	–	–	–	–	$19,042	$18,877	$18,749	$18,931	$16,387	–	–	–	–	$11,842	$10,616	$8,547	$7,651	$6,684	$6,037	$5,093	$3,905	$3,042	$1,916	$1,189	$962	$695	$531
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($16,625)	($13,244)	($10,000)	($8,820)	($9,253)	($7,576)	($6,255)	($6,899)	($6,697)	($5,883)	($5,999)	($5,748)	($5,320)	($5,158)	($4,948)	($3,047)	($2,657)	($3,566)	($3,974)	($4,472)	($4,129)	($3,485)	($3,330)	($2,689)	($2,629)	($2,475)	($1,930)	($1,512)	($923)	($289)	($215)	($136)	($95)
Total operating expenses	($43,378)	–	–	–	–	–	–	–	–	–	($13,558)	($12,996)	($12,180)	($12,353)	($11,203)	–	–	–	–	($7,973)	($6,944)	($5,718)	($5,291)	($4,857)	($4,586)	($4,058)	($3,148)	($2,465)	($1,472)	($884)	($713)	($497)	($384)
Total costs and expenses	($50,307)	($51,153)	($33,202)	($30,742)	($25,010)	($14,626)	($25,320)	($21,719)	($20,758)	($21,745)	($20,017)	($17,532)	($15,721)	($15,806)	($16,212)	($11,692)	($11,841)	($11,647)	($13,311)	($15,158)	($11,493)	($9,256)	($8,303)	($7,957)	($8,197)	($6,349)	($4,762)	($3,389)	($2,156)	($1,482)	($1,175)	($813)	($509)
Operating income	$16,714	$2,281	$5,910	$6,045	$9,240	$15,809	$3,203	$6,874	$7,318	$5,492	$5,484	$5,881	$6,569	$6,578	$5,184	$4,587	$4,330	$1,336	$582	$3,870	$3,672	$2,829	$2,360	$1,827	$1,451	$1,035	$757	$577	$444	$306	$248	$198	$147
Earnings
EBITDA	–	$7,541	$9,147	$9,271	$12,450	$19,290	$6,704	$10,213	$9,714	$7,932	$7,912	$7,981	$8,571	$8,643	$7,046	$5,166	$4,847	$2,019	$913	$4,548	$4,214	$3,255	$2,742	$2,211	$1,835	$1,373	$1,002	$750	$552	$352	$290	$235	$167
Interest income	–	$58,696	$46,034	$41,938	$31,237	$25,769	$26,033	$28,513	$27,176	$25,222	$22,891	$20,459	$19,397	$19,898	$18,964	$14,987	$15,353	$10,664	$11,112	$11,078	$8,165	$5,727	$4,794	$4,368	$4,181	$2,921	$2,454	$1,594	$1,112	$718	$660	$457	$259
Interest expense	($16,331)	($15,818)	($14,826)	($12,697)	($4,123)	($1,598)	($3,120)	($5,173)	($4,301)	($2,762)	($2,018)	($1,625)	($1,579)	($1,792)	($2,375)	($2,246)	($2,896)	($2,967)	($3,963)	($4,548)	($3,073)	($2,047)	($1,791)	($1,583)	($1,462)	($1,171)	($801)	($541)	($417)	($335)	($295)	($249)	($94)
Pre-tax income	$13,188	$2,281	$5,910	$6,045	$9,240	$15,809	$3,203	$6,874	$7,318	$5,492	$5,484	$5,881	$6,569	$6,417	$5,035	$4,587	$4,330	$1,336	$582	$3,870	$3,672	$2,829	$2,360	$1,827	$1,451	$1,035	$757	$577	$444	$306	$248	$198	$147
Income tax expense	($2,694)	($193)	($1,163)	($1,158)	($1,880)	($3,415)	($486)	($1,341)	($1,293)	($3,375)	($1,714)	($1,869)	($2,146)	($2,224)	($1,475)	($1,334)	($1,280)	($349)	($497)	($1,278)	($1,246)	($1,020)	($817)	($676)	($551)	($393)	($288)	($214)	($169)	($116)	($93)	($71)	($52)
Net income	$10,867	$2,453	$4,750	$4,887	$7,360	$12,390	$2,714	$5,546	$6,015	$1,982	$3,751	$4,050	$4,428	$4,121	$3,492	$3,147	$2,743	$884	($46)	$1,570	$2,414	$1,809	$1,543	$1,136	$900	$642	$470	$363	$275	$189	$155	$126	$95
Per share
Diluted EPS (GAAP)	$16.94	$4.03	$11.59	$11.95	$17.91	$26.94	$5.18	$11.05	$11.82	$3.49	$6.89	$7.07	$7.59	$6.89	$6.11	$6.80	$6.01	$0.74	($0.21)	$3.97	$7.62	$6.73	$6.21	$4.85	$3.93	$2.91	$2.24	$1.72	$1.32	$0.93	$0.77	$0.64	$0.48
Basic EPS (GAAP)	$16.95	$4.03	$11.61	$11.98	$17.98	$27.04	$5.19	$11.10	$11.90	$3.52	$6.96	$7.15	$7.71	$6.99	$6.17	$6.85	$6.07	$0.75	($0.21)	$4.02	$7.80	$6.98	$6.55	$5.05	$4.09	$3.06	$2.39	$1.84	$1.40	$0.96	$0.77	$0.64	$0.48
Basic shares outstanding	621	541	383	382	392	442	458	468	480	484	505	542	563	580	561	456	452	428	376	390	310	259	236	225	220	210	196	197	197	198	202	198	198
Margins
Gross margin	–	–	–	–	–	–	–	–	–	–	74.7%	80.6%	84.1%	84.6%	76.6%	–	–	–	–	62.2%	70.0%	70.7%	71.8%	68.3%	62.6%	69.0%	70.8%	76.7%	73.7%	66.6%	67.5%	68.8%	81.0%
Operating margin	24.9%	4.3%	15.1%	16.4%	27.0%	51.9%	11.2%	24.0%	26.1%	20.2%	21.5%	25.1%	29.5%	29.4%	24.2%	28.2%	26.8%	10.3%	4.2%	20.3%	24.2%	23.4%	22.1%	18.7%	15.0%	14.0%	13.7%	14.5%	17.1%	17.1%	17.5%	19.6%	22.4%
Net margin	16.2%	4.6%	12.1%	13.3%	21.5%	40.7%	9.5%	19.4%	21.4%	7.3%	14.7%	17.3%	19.9%	18.4%	16.3%	19.3%	17.0%	6.8%	(0.3%)	8.3%	15.9%	15.0%	14.5%	11.6%	9.3%	8.7%	8.5%	9.2%	10.6%	10.6%	10.9%	12.5%	14.5%

Analyst consensus

Buy57 analysts

Bearish · 4 · Hold · 17 · Bullish · 36

Earnings history

	EPS	Estimate
Q4 2024	$3.09	$2.78	Beat
Q1 2025	$4.06	$3.64	Beat
Q2 2025	$5.48	$4.05	Beat
Q3 2025	$5.95	$4.49	Beat
Q4 2025	$3.86	$4.14	Miss
Q1 2026	$4.42	$4.50	Miss
Q2 2026	$5.81	$4.79	Beat
Q3 2026	$6.69	$5.50	Beat

Peers

Company overview

IPO dateNov 16, 1994

CEORichard D. Fairbank

Employees76,300

SectorFinancial Services

IndustryFinancial - Credit Services

CountryUS

ExchangeNew York Stock Exchange

Websitewww.capitalone.com

Capital One Financial Corporation, identified by its ticker COF, operates as a prominent financial services holding company. It oversees essential subsidiaries such as Capital One Bank (USA), National Association, and Capital One, National Association, which collectively offer a broad spectrum of financial products and services throughout the United States, Canada, and the United Kingdom. The company structures its extensive operations into three core divisions: Credit Card, Consumer Banking, and Commercial Banking. Clients can utilize various deposit instruments, including checking accounts, money market accounts, negotiable order of withdrawal (NOW) accounts, savings accounts, and time deposits. Capital One's lending solutions are equally comprehensive, encompassing credit card financing, personal auto and retail banking loans, as well as significant commercial and multifamily real estate loans, and broader commercial and industrial credit facilities. Furthermore, the corporation provides credit and debit card issuance, robust online direct banking capabilities, and specialized treasury management and custodial services. Capital One serves a diverse clientele that includes individual consumers, small enterprises, and large commercial entities. It reaches these customers through a multi-channel approach, leveraging digital platforms, traditional physical branches, innovative café locations, and other distribution points, particularly within key states like New York, Louisiana, Texas, Maryland, Virginia, New Jersey, and California. Established in 1988, Capital One Financial Corporation maintains its primary executive offices in McLean, Virginia.

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