CAPITAL ONE FINANCIAL CORP COF
Capital One Financial Corporation, a Delaware corporation established in 1994 and headquartered in McLean, Virginia, is a diversified financial services holding company with banking and non-banking subsidiaries. Capital One Financial Corporation and its subsidiaries (the "Company" or "Capital One") operate as a global payments provider and diversified financial institution, delivering a broad array of financial products and services to consumers, small businesses and commercial clients through digital channels, branch locations, cafés and other distribution channels.
As of December 31, 2025, Capital One Financial Corporation's principal operating subsidiary was Capital One, National Association ("CONA"). On May 18, 2025 (the "Closing Date"), Discover Financial Services ("Discover") merged into Capital One and Discover Bank merged into CONA. See "Part II—Item 8. Financial Statements and Supplementary Data—Note 2—Business Combinations and Discontinued Operations" for additional information. The Company is hereafter collectively referred to as "we," "us" or "our." CONA is referred to as the "Bank."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.06B | $5.92B | $5.64B | $5.42B | $4.78B | $3.74B | $3.82B | $3.43B | $27.24B | $25.50B |
| Interest expense | $42.88B | $31.21B | $29.24B | $27.11B | $1.60B | $3.12B | $5.17B | $4.30B | $2.76B | $2.02B |
| Pre-tax income | $2.28B | $5.91B | $6.04B | $9.24B | $15.81B | $3.20B | $6.87B | $7.32B | $5.49B | $5.48B |
| Income tax | $193.0M | $1.16B | $1.16B | $1.88B | $3.42B | $486.0M | $1.34B | $1.29B | $3.38B | $1.71B |
| Net income | $2.45B | $4.75B | $4.89B | $7.36B | $12.39B | $2.71B | $5.55B | $6.01B | $1.98B | $3.75B |
| EPS, basic | 4.03 | 11.61 | 11.98 | 17.98 | 27.04 | 5.19 | 11.10 | 11.90 | 3.52 | 6.96 |
| EPS, diluted | 4.03 | 11.59 | 11.95 | 17.91 | 26.94 | 5.18 | 11.05 | 11.82 | 3.49 | 6.89 |
| Shares, diluted (wtd. avg.) | $541.3M | $383.6M | $383.4M | $393.2M | $444.2M | $458.9M | $469.9M | $483.1M | $488.6M | $509.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $62.09B | $43.67B | $43.76B | $31.26B | $22.05B | $40.77B | $13.75B | $13.49B | $14.35B | $12.49B |
| Property, plant and equipment | $5.60B | $4.51B | $4.38B | $4.35B | $4.21B | $4.29B | $4.38B | $4.19B | $4.03B | $3.67B |
| Goodwill | $28.51B | $15.06B | $15.06B | $14.78B | $14.78B | $14.65B | $14.65B | $14.54B | $14.53B | $14.52B |
| Other intangibles | $16.58B | $233.0M | $310.0M | $159.0M | $111.0M | $90.0M | $174.0M | $254.0M | $421.0M | $665.0M |
| Total assets | $669.01B | $490.14B | $478.46B | $455.25B | $432.38B | $421.60B | $390.37B | $372.54B | $365.69B | $357.03B |
| Short-term debt | $1.09B | $562.0M | $538.0M | $883.0M | $820.0M | $668.0M | $7.31B | $9.40B | $576.0M | $992.0M |
| Total liabilities | $555.39B | $429.36B | $420.38B | $402.67B | $371.35B | $361.40B | $332.35B | $320.87B | $316.96B | $309.52B |
| Retained earnings | $65.19B | $64.50B | $60.95B | $57.18B | $51.01B | $40.09B | $40.34B | $35.88B | $30.70B | $29.77B |
| Total equity | $113.62B | $60.78B | $58.09B | $52.58B | $61.03B | $60.20B | $58.01B | $51.67B | $48.73B | $47.51B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $27.72B | $18.16B | $20.57B | $13.81B | $12.31B | $16.70B | $16.64B | $12.98B | $14.18B | $11.86B |
| Stock-based compensation | $776.0M | $569.0M | $513.0M | $314.0M | $331.0M | $203.0M | $239.0M | $170.0M | $244.0M | $239.0M |
| Capital expenditure | $1.58B | $1.20B | $961.0M | $934.0M | $698.0M | $710.0M | $887.0M | $874.0M | $1.02B | $779.0M |
| Investing cash flow | -$444.0M | -$26.41B | -$21.92B | -$29.74B | -$31.50B | -$14.84B | -$23.00B | -$15.62B | -$15.54B | -$25.63B |
| Financing cash flow | -$8.85B | $8.17B | $13.84B | $25.13B | $474.0M | $25.16B | $6.62B | $1.78B | $3.22B | $17.23B |
| Dividends paid | $1.52B | $932.0M | $931.0M | $950.0M | $1.15B | $460.0M | $753.0M | $773.0M | $780.0M | $812.0M |
| Buybacks | $4.10B | $734.0M | $718.0M | $4.95B | $7.61B | $393.0M | $1.48B | $2.28B | $240.0M | $3.66B |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000927628-26-000024.
Others in SIC 6021
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | $953.33B | 17.9x | 2.8% |
| BAC | BANK OF AMERICA CORP /DE/ | $438.31B | 16.5x | 6.8% |
| WFC | WELLS FARGO & COMPANY/MN | $272.07B | 14.4x | -3.8% |
| C | CITIGROUP INC | $240.92B | 19.7x | 5.6% |
| USB | US BANCORP \DE\ | $98.73B | 13.7x | 4.4% |
| PNC | PNC FINANCIAL SERVICES GROUP, INC. | $97.98B | 14.8x | 7.2% |
| TFC | TRUIST FINANCIAL CORP | $63.10B | 13.5x | -2.1% |
| HBAN | HUNTINGTON BANCSHARES INC /MD/ | $34.52B | 12.3x | 6.4% |