Capital One
COF NYSE Consumer Finance Financials FY2016–FY2025
Capital One's revenue rose 36.6% to $53.4 billion in fiscal 2025. Net income was $2.5 billion, down 48.4%. Its return on equity was 2.8%, down from 8.0% a year earlier. Its efficiency ratio was 57.1%, up from 54.9% a year earlier. It paid out $5.6 billion in dividends and buybacks. The diluted share count rose 41.1%.
What Capital One does
Capital One is a bank holding company based in McLean, Virginia. It offers credit and debit cards, auto loans, personal loans, bank deposit accounts, and business lending and treasury management (handling a company's cash and payments) to consumers, small businesses and larger companies. Customers reach it online and through branches, cafés, call centers and ATMs. It also issues credit cards in the U.K. and Canada. Capital One says it was the largest credit card issuer in the U.S. at the end of 2025, measured by card loan balances.
Most of its money comes from interest on loans, minus what it pays for deposits and other funding. It also earns fees, mostly paid by merchants, when its cards are used and when payments run over its networks. It reports three segments: Credit Card; Consumer Banking, which includes deposits, auto loans and its payment networks; and Commercial Banking, which serves companies with annual revenues between $20 million and $2 billion. It competes with other card issuers, including those using Visa and Mastercard, American Express, banks, credit unions and financial technology firms.
In May 2025 Capital One bought Discover, for consideration valued at $51.8 billion. The deal brought in the Discover and PULSE payment networks and Diners Club, so Capital One now also runs networks that process card payments. In January 2026 it agreed to buy Brex for $5.15 billion. It had about 76,300 employees at the end of 2025.
- Legal name
- CAPITAL ONE FINANCIAL CORP
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 19, 2026
- Accession · CIK
- 0000927628-26-000024
0000927628
Revenue and margins
Capital One had $53.4B of revenue in fiscal 2025, up 36.6% on the year before.
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew −5.8% a year. Loss periods are shown in red.
Returns and efficiency
For banks, return on equity and the efficiency ratio (costs as a share of revenue) say most about how well the business runs.
Dividends, buybacks and share count
Capital One returned $5.6B to shareholders in fiscal 2025. The diluted share count rose 41.1%.
Value Capital One yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Earnings multiple
Value per share
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Reference multiples: today 12.1x · peers 13.4x · sector 13.7x.
Balance sheet
Loans, deposits and capital at each fiscal year end.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Deposits | $311.0B | $333.0B | $348.4B | $362.7B | $475.8B |
| Total assets | $432.4B | $455.2B | $478.5B | $490.1B | $669.0B |
| Shareholders' equity | $61.0B | $52.6B | $58.1B | $60.8B | $113.6B |
| Goodwill | $14.8B | $14.8B | $15.1B | $15.1B | $28.5B |
| Intangible assets | $111M | $159M | $310M | $233M | $16.6B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$6.2M
6 insiders
Of sales under plans
81%
$5.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 15, 2026 | Celia KaramPres, Retail Bank | Sold plan | 1,927 | $195.86 | $0.4M | Form 4 |
| Oct 15, 2026 | Lia DeanPres, Banking & Prem. Products | Sold plan | 1,887 | $195.86 | $0.4M | Form 4 |
| Oct 6, 2026 | Matthew W CooperGeneral Counsel & Corp Secy | Sold plan | 3,500 | $196.22 | $0.7M | Form 4 |
| Sep 15, 2026 | Celia KaramPres, Retail Bank | Sold plan | 2,017 | $206.07 | $0.4M | Form 4 |
| Sep 15, 2026 | Lia DeanPres, Banking & Prem. Products | Sold plan | 2,066 | $206.07 | $0.4M | Form 4 |
| Sep 1, 2026 | Matthew W CooperGeneral Counsel & Corp Secy | Sold plan | 3,500 | $214.10 | $0.7M | Form 4 |
| Aug 17, 2026 | Celia KaramPres, Retail Bank | Sold plan | 1,888 | $225.52 | $0.4M | Form 4 |
| Aug 17, 2026 | Lia DeanPres, Banking & Prem. Products | Sold plan | 2,193 | $225.52 | $0.5M | Form 4 |
| Aug 13, 2026 | Mark Daniel MouadebPresident, Card | Sold plan | 1,199 | $225.00 | $0.3M | Form 4 |
| Aug 10, 2026 | Michael ZamskyChief Credit & Fin'l Risk Off. | Sold | 5,473 | $218.02 | $1.2M | Form 4 |
| Aug 7, 2026 | Ravi RaghuPres, Software, Intl & Sm Bus | Sold plan | 50 | $218.49 | $0.0M | Form 4 |
| Aug 4, 2026 | Matthew W CooperGeneral Counsel & Corp Secy | Sold plan | 3,500 | $219.33 | $0.8M | Form 4 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| Capital One COF | $109.0B | 36.6% | — | — | — | 12.1x | — | |
| American Express AXP | $218.0B | 9.5% | — | — | — | 17.6x | — | Compare → |
| Synchrony Financial SYF | $27.5B | −2.8% | — | — | — | 7.7x | — | Compare → |
| Ally Financial ALLY | $12.2B | −3.3% | — | — | — | 9.2x | — | Compare → |
| SoFi Technologies SOFI | $18.3B | 35.1% | — | — | — | 29.8x | — | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $25.5B | $27.2B | $28.1B | $28.6B | $28.5B | $30.4B | $34.3B | $36.8B | $39.1B | $53.4B |
| Net interest income | $20.9B | $22.5B | $22.9B | $23.3B | $22.9B | $24.2B | $27.1B | $29.2B | $31.2B | $42.9B |
| Noninterest income | $4.6B | $4.8B | $5.2B | $5.3B | $5.6B | $6.3B | $7.1B | $7.5B | $7.9B | $10.6B |
| Noninterest expense | $13.6B | $14.2B | $14.9B | $15.5B | $15.1B | $16.6B | $19.2B | $20.3B | $21.5B | $30.5B |
| Provision for credit losses | $6.5B | $7.6B | $5.9B | $6.2B | $10.3B | −$1.9B | $5.8B | $10.4B | $11.7B | $20.7B |
| Pretax income | $5.5B | $5.5B | $7.3B | $6.9B | $3.2B | $15.8B | $9.2B | $6.0B | $5.9B | $2.3B |
| Income tax | $1.7B | $3.4B | $1.3B | $1.3B | $486M | $3.4B | $1.9B | $1.2B | $1.2B | $193M |
| Net income | $3.8B | $2.0B | $6.0B | $5.5B | $2.7B | $12.4B | $7.4B | $4.9B | $4.8B | $2.5B |
| Net income to common | $3.5B | $1.7B | $5.7B | $5.2B | $2.4B | $12.0B | $7.0B | $4.6B | $4.4B | $2.2B |
| Diluted EPS | $6.89 | $3.49 | $11.82 | $11.05 | $5.18 | $26.94 | $17.91 | $11.95 | $11.59 | $4.03 |
| Diluted shares | 0.51B | 0.49B | 0.48B | 0.47B | 0.46B | 0.44B | 0.39B | 0.38B | 0.38B | 0.54B |
| Cash flow | ||||||||||
| Stock-based compensation | $239M | $244M | $170M | $239M | $203M | $331M | $314M | $513M | $569M | $776M |
| Share buybacks | $3.7B | $240M | $2.3B | $1.5B | $393M | $7.6B | $4.9B | $718M | $734M | $4.1B |
| Dividends paid | $812M | $780M | $773M | $753M | $460M | $1.1B | $950M | $931M | $932M | $1.5B |
| Dividends and buybacks | $4.5B | $1.0B | $3.1B | $2.2B | $853M | $8.8B | $5.9B | $1.6B | $1.7B | $5.6B |
| Balance sheet | ||||||||||
| Loans, net | $239.1B | $247.0B | $238.7B | $258.6B | — | — | — | — | — | — |
| Deposits | $236.8B | $243.7B | $249.8B | $262.7B | $305.4B | $311.0B | $333.0B | $348.4B | $362.7B | $475.8B |
| Goodwill | $14.5B | $14.5B | $14.5B | $14.7B | $14.7B | $14.8B | $14.8B | $15.1B | $15.1B | $28.5B |
| Intangible assets | $665M | $421M | $254M | $174M | $90.0M | $111M | $159M | $310M | $233M | $16.6B |
| Total assets | $357.0B | $365.7B | $372.5B | $390.4B | $421.6B | $432.4B | $455.2B | $478.5B | $490.1B | $669.0B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $47.5B | $48.7B | $51.7B | $58.0B | $60.2B | $61.0B | $52.6B | $58.1B | $60.8B | $113.6B |
| Margins | ||||||||||
| Net margin | 14.7% | 7.3% | 21.4% | 19.4% | 9.5% | 40.7% | 21.5% | 13.3% | 12.1% | 4.6% |
| Net interest share of revenue | 81.9% | 82.5% | 81.5% | 81.6% | 80.3% | 79.4% | 79.2% | 79.5% | 79.8% | 80.2% |
| Efficiency ratio | 53.2% | 52.1% | 53.1% | 54.2% | 52.8% | 54.4% | 56.0% | 55.2% | 54.9% | 57.1% |
| Returns | ||||||||||
| Return on equity | 7.9% | 4.1% | 12.0% | 10.1% | 4.6% | 20.4% | 13.0% | 8.8% | 8.0% | 2.8% |
| Return on assets | 1.1% | 0.6% | 1.6% | 1.5% | 0.7% | 2.9% | 1.7% | 1.1% | 1.0% | 0.4% |
| Return on tangible equity | 11.0% | 5.2% | 16.2% | 13.0% | 5.4% | 26.1% | 16.8% | 11.4% | 10.1% | 3.8% |
| Growth | ||||||||||
| Revenue growth | 8.9% | 6.8% | 3.1% | 1.8% | −0.2% | 6.7% | 12.5% | 7.4% | 6.3% | 36.6% |
| Net income growth | −7.4% | −47.2% | 203.5% | −7.8% | −51.1% | 356.5% | −40.6% | −33.6% | −2.8% | −48.4% |
| EPS growth | −2.6% | −49.4% | 238.7% | −6.5% | −53.1% | 420.1% | −33.5% | −33.3% | −3.0% | −65.2% |
| Share count change | −7.0% | −4.2% | −1.1% | −2.7% | −2.3% | −3.2% | −11.5% | −2.5% | 0.1% | 41.1% |
| Financial health | ||||||||||
| Loans / deposits | 101.0% | 101.3% | 95.6% | 98.4% | — | — | — | — | — | — |
| Provision / loans | 2.8% | 3.1% | 2.4% | 2.5% | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Stock comp / revenue | 0.9% | 0.9% | 0.6% | 0.8% | 0.7% | 1.1% | 0.9% | 1.4% | 1.5% | 1.5% |
Source: SEC EDGAR XBRL filings (CIK 0000927628). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.