Capital One Financial Corporation (COF) Q2 FY2026 Financial Statements: Total net revenue $15.85B, Net income $3.02B
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PeriodQ2 FY2026
Published
Capital One Financial Corporation reported $15.85 billion of total net revenue for Q2 FY2026, the quarter ended June 30, 2026, up 26.9% from a year earlier, and net income of $3.02 billion, or $4.73 per diluted common share, against a net loss of $4.28 billion and a loss of $8.58 per share in the same quarter of 2025. The return to profit came chiefly from a far smaller provision for credit losses, $2.99 billion against $11.43 billion a year earlier, when Capital One recorded the initial allowance on the loans it acquired with Discover Financial Services; higher average credit card loan balances, largely from Discover, also lifted net interest income, and net interest margin reached 8.0%, up 0.4 points. Capital One completed its acquisition of Brex Inc. during the quarter, adding corporate card lending to the Credit Card segment, and continued to absorb Discover integration costs.
| Metric | Amount | vs. year ago |
|---|---|---|
| Total net revenue | $15,850,000,000 | up 26.9% |
| Net income | $3,020,000,000 | swung from -$4.28 billion |
| Diluted EPS | $4.73 | swung from -$8.58 |
| Provision for credit losses | $2,989,000,000 | down 73.8% |
| Net interest margin | 8.0% | up 0.4 points |
About this file
| Ticker | COF |
|---|---|
| CIK | 0000927628 |
| Company | Capital One Financial Corporation |
| Business type | bank |
| Schema template | bank |
| Reporting currency | USD |
| Converted to USD | no |
| Units | Dollar amounts are in actual dollars (not millions). Per-share amounts and book values are in dollars per share. Share counts are in actual shares. Ratios, margins and rates are percentages as the filing prints them (for example 13.7 means 13.7%); interim ratios are annualized by the company, as its own tables state. |
COF annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Label | FY2025 | FY2024 | FY2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0000927628-26-000024 | 0000927628-26-000024 | 0000927628-26-000024 |
| Income statement | |||
| Net interest income | 42,878,000,000 | 31,208,000,000 | 29,241,000,000 |
| Total interest income | 58,696,000,000 | 46,034,000,000 | 41,938,000,000 |
| Total interest expense | 15,818,000,000 | 14,826,000,000 | 12,697,000,000 |
| Provision for credit losses | 20,655,000,000 | 11,716,000,000 | 10,426,000,000 |
| Total non interest income | 10,556,000,000 | 7,904,000,000 | 7,546,000,000 |
| Total non interest expense | 30,498,000,000 | 21,486,000,000 | 20,316,000,000 |
| Income from continuing operations before income taxes | 2,281,000,000 | 5,910,000,000 | 6,045,000,000 |
| Income tax provision | 193,000,000 | 1,163,000,000 | 1,158,000,000 |
| Income from continuing operations net of tax | 2,088,000,000 | 4,747,000,000 | 4,887,000,000 |
| Income from discontinued operations net of tax | 365,000,000 | 3,000,000 | 0 |
| Net income | 2,453,000,000 | 4,750,000,000 | 4,887,000,000 |
| Dividends and undistributed earnings allocated to participating securities | -26,000,000 | -77,000,000 | -77,000,000 |
| Preferred stock dividends | -252,000,000 | -228,000,000 | -228,000,000 |
| Discount on redeemed preferred stock | 6,000,000 | ||
| Net income available to common stockholders | 2,181,000,000 | 4,445,000,000 | 4,582,000,000 |
| Basic EPS | 4.03 | 11.61 | 11.98 |
| Diluted EPS | 4.03 | 11.59 | 11.95 |
| Total net revenue | 53,434,000,000 | 39,112,000,000 | 36,787,000,000 |
| Marketing expense | 5,884,000,000 | 4,562,000,000 | 4,009,000,000 |
| Operating expense | 24,614,000,000 | 16,924,000,000 | 16,307,000,000 |
| Weighted average basic shares | 540,700,000 | 382,700,000 | 382,400,000 |
| Weighted average diluted shares | 541,300,000 | 383,600,000 | 383,400,000 |
| Balance sheet | |||
| Total cash and cash equivalents | 57,434,000,000 | 43,230,000,000 | |
| Restricted cash for securitization investors | 4,659,000,000 | 441,000,000 | |
| Investment securities available for sale | 91,051,000,000 | 83,013,000,000 | |
| Total loans held for investment | 453,622,000,000 | 327,775,000,000 | 320,472,000,000 |
| Net loans held for investment | 430,213,000,000 | 311,517,000,000 | |
| Loans held for sale | 760,000,000 | 202,000,000 | |
| Goodwill | 28,509,000,000 | 15,059,000,000 | |
| Other intangible assets | 16,578,000,000 | 233,000,000 | |
| Total assets | 669,009,000,000 | 490,144,000,000 | 478,464,000,000 |
| Non interest bearing deposits | 27,385,000,000 | 26,122,000,000 | |
| Interest bearing deposits | 448,386,000,000 | 336,585,000,000 | 320,389,000,000 |
| Total deposits | 475,771,000,000 | 362,707,000,000 | 348,413,000,000 |
| Securitized debt obligations | 12,853,000,000 | 14,264,000,000 | |
| Senior and subordinated notes | 36,001,000,000 | 30,696,000,000 | |
| Total other debt | 38,147,000,000 | 31,287,000,000 | |
| Total liabilities | 555,393,000,000 | 429,360,000,000 | |
| Total stockholders equity | 113,616,000,000 | 60,784,000,000 | 58,089,000,000 |
| Total borrowings | 51,000,000,000 | 45,551,000,000 | 49,856,000,000 |
| Common equity | 108,209,000,000 | 55,938,000,000 | 53,244,000,000 |
| Allowance for credit losses | 23,409,000,000 | 16,258,000,000 | 15,296,000,000 |
| Book value per common share | 181.76 | 159.44 | 152.71 |
| Tangible book value per common share | 107.72 | 106.97 | 99.78 |
| Tangible common equity | 67,333,000,000 | 40,782,000,000 | 37,955,000,000 |
| Common shares outstanding | 625,102,271 | 381,230,343 | 380,400,000 |
| Cash flow | |||
| Net cash from operating activities | 27,718,000,000 | 18,159,000,000 | 20,575,000,000 |
| Net cash used in investing activities | -444,000,000 | -26,410,000,000 | -21,920,000,000 |
| Net cash from financing activities | -8,852,000,000 | 8,167,000,000 | 13,844,000,000 |
| Changes in premises and equipment | -1,578,000,000 | -1,204,000,000 | -961,000,000 |
| Dividends paid on common stock | -1,516,000,000 | -932,000,000 | -931,000,000 |
| Dividends paid on preferred stock | -252,000,000 | -228,000,000 | -228,000,000 |
| Purchases of treasury stock | -4,099,000,000 | -734,000,000 | -718,000,000 |
| Interest paid | 14,886,000,000 | 13,201,000,000 | 10,823,000,000 |
| Income taxes paid | 806,000,000 | 1,105,000,000 | 1,355,000,000 |
| Key metrics | |||
| Average loans held for investment | 396,725,000,000 | 317,421,000,000 | 311,541,000,000 |
| Average interest earning assets | 546,685,000,000 | 453,481,000,000 | 441,238,000,000 |
| Average total assets | 597,536,000,000 | 480,451,000,000 | 467,807,000,000 |
| Average total deposits | 429,620,000,000 | 351,168,000,000 | 343,554,000,000 |
| Average common equity | 89,286,000,000 | 54,953,000,000 | 50,349,000,000 |
| Average total stockholders equity | 94,542,000,000 | 59,799,000,000 | 55,195,000,000 |
| Purchase volume | 828,467,000,000 | 654,436,000,000 | 620,290,000,000 |
| Net charge offs | 13,102,000,000 | 10,748,000,000 | 8,414,000,000 |
| Total net revenue margin | 9.77 | 8.62 | 8.34 |
| Net interest margin | 7.84 | 6.88 | 6.63 |
| Return on average assets | 0.35 | 0.99 | 1.04 |
| Return on average common equity | 2.03 | 8.08 | 9.1 |
| Return on average tangible common equity | 3.16 | 11.18 | 13.04 |
| Efficiency ratio | 57.08 | 54.93 | 55.23 |
| Operating efficiency ratio | 46.06 | 43.27 | 44.33 |
| Effective income tax rate continuing operations | 8.5 | 19.7 | 19.2 |
| Net charge off rate | 3.3 | 3.39 | 2.7 |
| Allowance coverage ratio | 5.16 | 4.96 | 4.77 |
| Delinquency rate 30 plus performing | 3.41 | 3.69 | 3.71 |
| Delinquency rate 30 plus | 3.59 | 3.98 | 3.99 |
| Dividends declared per common share | 2.6 | 2.4 | 2.4 |
| Employees period end | 76,300 | 52,600 | 52,000 |
| Global payment network volume | 401,775,000,000 | ||
| Capital ratios | |||
| Common equity tier 1 capital ratio | 14.3 | 13.5 | 12.9 |
| Tier 1 capital ratio | 15.3 | 14.8 | 14.2 |
| Total capital ratio | 17.2 | 16.4 | 16 |
| Tier 1 leverage ratio | 12.5 | 11.6 | 11.2 |
| Tangible common equity ratio | 10.7 | 8.6 | 8.2 |
| Supplementary leverage ratio | 10.6 | 9.9 | 9.6 |
| Segment results | |||
| Credit card | |||
| Total net revenue | 39,560,000,000 | 28,164,000,000 | 25,669,000,000 |
| Provision for credit losses | 19,066,000,000 | 10,272,000,000 | 8,651,000,000 |
| Income from continuing operations net of tax | 645,000,000 | 3,292,000,000 | 3,457,000,000 |
| Loans held for investment | 279,570,000,000 | 162,508,000,000 | 154,547,000,000 |
| Deposits | 0 | 0 | 0 |
| Consumer banking | |||
| Total net revenue | 10,433,000,000 | 8,718,000,000 | 9,302,000,000 |
| Provision for credit losses | 1,302,000,000 | 1,435,000,000 | 1,169,000,000 |
| Income from continuing operations net of tax | 1,225,000,000 | 1,460,000,000 | 2,258,000,000 |
| Loans held for investment | 84,790,000,000 | 78,092,000,000 | 75,437,000,000 |
| Deposits | 423,932,000,000 | 318,329,000,000 | 296,171,000,000 |
| Commercial banking | |||
| Total net revenue | 3,655,000,000 | 3,601,000,000 | 3,520,000,000 |
| Provision for credit losses | 287,000,000 | 8,000,000 | 605,000,000 |
| Income from continuing operations net of tax | 1,043,000,000 | 1,209,000,000 | 691,000,000 |
| Loans held for investment | 89,262,000,000 | 87,175,000,000 | 90,488,000,000 |
| Deposits | 31,250,000,000 | 31,691,000,000 | 32,712,000,000 |
| Other | |||
| Total net revenue | -214,000,000 | -1,371,000,000 | -1,704,000,000 |
| Provision for credit losses | 0 | 1,000,000 | 1,000,000 |
| Income from continuing operations net of tax | -825,000,000 | -1,214,000,000 | -1,519,000,000 |
| Loans held for investment | 0 | 0 | 0 |
| Deposits | 20,589,000,000 | 12,687,000,000 | 19,530,000,000 |
COF quarterly income statement, balance sheet and cash flow
| Q2 2026 | Q2 2025 | |
|---|---|---|
| Fiscal year | 2026 | 2025 |
| Fiscal quarter | 2 | 2 |
| Label | Q2 2026 | Q2 2025 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 0000927628-26-000089 | 0000927628-26-000089 |
| Income statement | ||
| Total interest income | 16,385,000,000 | 13,828,000,000 |
| Total interest expense | 4,011,000,000 | 3,833,000,000 |
| Net interest income | 12,374,000,000 | 9,995,000,000 |
| Provision for credit losses | 2,989,000,000 | 11,430,000,000 |
| Total non interest income | 3,476,000,000 | 2,497,000,000 |
| Marketing expense | 1,661,000,000 | 1,345,000,000 |
| Total non interest expense | 9,043,000,000 | 6,991,000,000 |
| Income from continuing operations before income taxes | 3,818,000,000 | -5,929,000,000 |
| Income tax provision | 798,000,000 | -1,666,000,000 |
| Income from continuing operations net of tax | 3,020,000,000 | -4,263,000,000 |
| Income from discontinued operations net of tax | 0 | -14,000,000 |
| Net income | 3,020,000,000 | -4,277,000,000 |
| Dividends and undistributed earnings allocated to participating securities | -28,000,000 | -4,000,000 |
| Preferred stock dividends | -57,000,000 | -65,000,000 |
| Net income available to common stockholders | 2,935,000,000 | -4,340,000,000 |
| Basic EPS | 4.73 | -8.58 |
| Diluted EPS | 4.73 | -8.58 |
| Weighted average basic shares | 620,500,000 | 505,600,000 |
| Weighted average diluted shares | 621,100,000 | 505,600,000 |
| Total net revenue | 15,850,000,000 | 12,492,000,000 |
| Operating expense | 7,382,000,000 | 5,646,000,000 |
| Discount on redeemed preferred stock | 6,000,000 | |
| Balance sheet | ||
| Total cash and cash equivalents | 54,714,000,000 | |
| Restricted cash for securitization investors | 1,167,000,000 | |
| Investment securities available for sale | 90,041,000,000 | |
| Investment securities held to maturity | 2,737,000,000 | |
| Total investment securities | 92,778,000,000 | |
| Total loans held for investment | 457,168,000,000 | 439,297,000,000 |
| Net loans held for investment | 434,202,000,000 | |
| Loans held for sale | 264,000,000 | |
| Goodwill | 31,866,000,000 | |
| Other intangible assets | 16,077,000,000 | |
| Total assets | 673,835,000,000 | 658,968,000,000 |
| Non interest bearing deposits | 27,793,000,000 | |
| Interest bearing deposits | 456,464,000,000 | |
| Total deposits | 484,257,000,000 | 468,110,000,000 |
| Securitized debt obligations | 8,502,000,000 | |
| Senior and subordinated notes | 35,620,000,000 | |
| Total other debt | 36,869,000,000 | |
| Total liabilities | 560,042,000,000 | |
| Total stockholders equity | 113,793,000,000 | 110,956,000,000 |
| Total borrowings | 45,371,000,000 | |
| Common equity | 108,386,000,000 | |
| Allowance for credit losses | 22,966,000,000 | |
| Tangible common equity | 64,546,000,000 | 63,537,000,000 |
| Tangible book value per common share | 105.21 | 99.35 |
| Common shares outstanding | 613,484,836 | 639,500,000 |
| Key metrics | ||
| Average loans held for investment | 450,679,000,000 | 378,157,000,000 |
| Average interest earning assets | 617,583,000,000 | 524,929,000,000 |
| Average total assets | 682,079,000,000 | 572,446,000,000 |
| Average total deposits | 486,791,000,000 | 414,568,000,000 |
| Average common equity | 109,111,000,000 | 81,563,000,000 |
| Average total stockholders equity | 114,518,000,000 | 86,918,000,000 |
| Purchase volume | 253,750,000,000 | 201,453,000,000 |
| Net charge offs | 3,642,000,000 | 3,060,000,000 |
| Total net revenue margin | 10.27 | 9.52 |
| Net interest margin | 8.01 | 7.62 |
| Return on average assets | 1.77 | -2.98 |
| Return on average common equity | 10.76 | -21.22 |
| Return on average tangible common equity | 18.04 | -32.99 |
| Efficiency ratio | 57.05 | 55.96 |
| Operating efficiency ratio | 46.57 | 45.2 |
| Effective income tax rate continuing operations | 20.9 | 28.1 |
| Dividends declared per common share | 0.8 | 0.6 |
| Net charge off rate | 3.23 | 3.24 |
| Allowance coverage ratio | 5.02 | |
| Delinquency rate 30 plus performing | 2.91 | |
| Delinquency rate 30 plus | 3.13 | |
| Employees period end | 78,400 | |
| Global payment network volume | 189,612,000,000 | 74,014,000,000 |
| Capital ratios | ||
| Common equity tier 1 capital ratio | 13.7 | |
| Tier 1 capital ratio | 14.8 | |
| Total capital ratio | 16.6 | |
| Tier 1 leverage ratio | 11.8 | |
| Tangible common equity ratio | 10.2 | 10.3 |
| Supplementary leverage ratio | 10.1 | |
| Segment results | ||
| Credit card | ||
| Total net revenue | 11,765,000,000 | 9,095,000,000 |
| Provision for credit losses | 2,474,000,000 | 11,098,000,000 |
| Income from continuing operations net of tax | 2,411,000,000 | -4,917,000,000 |
| Loans held for investment | 275,408,000,000 | 269,709,000,000 |
| Deposits | 0 | 0 |
| Consumer banking | ||
| Total net revenue | 3,209,000,000 | 2,556,000,000 |
| Provision for credit losses | 444,000,000 | 252,000,000 |
| Income from continuing operations net of tax | 486,000,000 | 450,000,000 |
| Loans held for investment | 90,467,000,000 | 81,233,000,000 |
| Deposits | 435,221,000,000 | 414,044,000,000 |
| Commercial banking | ||
| Total net revenue | 850,000,000 | 937,000,000 |
| Provision for credit losses | 71,000,000 | 81,000,000 |
| Income from continuing operations net of tax | 239,000,000 | 280,000,000 |
| Loans held for investment | 91,293,000,000 | 88,355,000,000 |
| Deposits | 30,841,000,000 | 29,245,000,000 |
| Other | ||
| Total net revenue | 26,000,000 | -96,000,000 |
| Provision for credit losses | 0 | -1,000,000 |
| Income from continuing operations net of tax | -116,000,000 | -76,000,000 |
| Loans held for investment | 0 | 0 |
| Deposits | 18,195,000,000 | 24,821,000,000 |
COF year-to-date income statement and cash flow
| Six months ended June 30, 2026 | |
|---|---|
| Label | Six months ended June 30, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-30 |
| Period type | six months |
| Source accession | 0000927628-26-000089 |
| Income statement | |
| Total interest income | 32,616,000,000 |
| Total interest expense | 8,097,000,000 |
| Net interest income | 24,519,000,000 |
| Provision for credit losses | 7,057,000,000 |
| Total non interest income | 6,562,000,000 |
| Marketing expense | 3,158,000,000 |
| Total non interest expense | 17,507,000,000 |
| Income from continuing operations before income taxes | 6,517,000,000 |
| Income tax provision | 1,316,000,000 |
| Income from continuing operations net of tax | 5,201,000,000 |
| Income from discontinued operations net of tax | -7,000,000 |
| Net income | 5,194,000,000 |
| Dividends and undistributed earnings allocated to participating securities | -48,000,000 |
| Preferred stock dividends | -130,000,000 |
| Net income available to common stockholders | 5,016,000,000 |
| Basic EPS | 8.07 |
| Diluted EPS | 8.07 |
| Weighted average basic shares | 621,500,000 |
| Weighted average diluted shares | 622,300,000 |
| Total net revenue | 31,081,000,000 |
| Operating expense | 14,349,000,000 |
| Cash flow | |
| Net cash from operating activities | 14,467,000,000 |
| Net cash used in investing activities | -16,466,000,000 |
| Net cash from financing activities | -4,213,000,000 |
| Changes in premises and equipment | -920,000,000 |
| Dividends paid on common stock | -1,002,000,000 |
| Dividends paid on preferred stock | -130,000,000 |
| Purchases of treasury stock | -5,540,000,000 |
| Interest paid | 7,941,000,000 |
| Income taxes paid | 742,000,000 |
| Key metrics | |
| Average loans held for investment | 448,469,000,000 |
| Average interest earning assets | 617,378,000,000 |
| Average total assets | 679,050,000,000 |
| Average total deposits | 483,393,000,000 |
| Average common equity | 109,130,000,000 |
| Average total stockholders equity | 114,537,000,000 |
| Purchase volume | 474,290,000,000 |
| Net charge offs | 7,489,000,000 |
| Total net revenue margin | 10.07 |
| Net interest margin | 7.94 |
| Return on average assets | 1.53 |
| Return on average common equity | 9.21 |
| Return on average tangible common equity | 15.05 |
| Efficiency ratio | 56.33 |
| Operating efficiency ratio | 46.17 |
| Effective income tax rate continuing operations | 20.2 |
| Dividends declared per common share | 1.6 |
| Net charge off rate | 3.34 |
| Global payment network volume | 363,944,000,000 |
| Segment results | |
| Credit card | |
| Total net revenue | 23,154,000,000 |
| Provision for credit losses | 5,885,000,000 |
| Income from continuing operations net of tax | 4,280,000,000 |
| Loans held for investment | 275,408,000,000 |
| Deposits | 0 |
| Consumer banking | |
| Total net revenue | 6,121,000,000 |
| Provision for credit losses | 963,000,000 |
| Income from continuing operations net of tax | 784,000,000 |
| Loans held for investment | 90,467,000,000 |
| Deposits | 435,221,000,000 |
| Commercial banking | |
| Total net revenue | 1,759,000,000 |
| Provision for credit losses | 209,000,000 |
| Income from continuing operations net of tax | 445,000,000 |
| Loans held for investment | 91,293,000,000 |
| Deposits | 30,841,000,000 |
| Other | |
| Total net revenue | 47,000,000 |
| Provision for credit losses | 0 |
| Income from continuing operations net of tax | -308,000,000 |
| Loans held for investment | 0 |
| Deposits | 18,195,000,000 |
| Prior year comparative | |
| Label | Six months ended June 30, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-30 |
| Period type | six months |
| Source accession | 0000927628-26-000089 |
| Income statement | |
| Total interest income | 25,246,000,000 |
| Total interest expense | 7,238,000,000 |
| Net interest income | 18,008,000,000 |
| Provision for credit losses | 13,799,000,000 |
| Total non interest income | 4,484,000,000 |
| Marketing expense | 2,547,000,000 |
| Total non interest expense | 12,893,000,000 |
| Income from continuing operations before income taxes | -4,200,000,000 |
| Income tax provision | -1,341,000,000 |
| Income from continuing operations net of tax | -2,859,000,000 |
| Income from discontinued operations net of tax | -14,000,000 |
| Net income | -2,873,000,000 |
| Dividends and undistributed earnings allocated to participating securities | -9,000,000 |
| Preferred stock dividends | -122,000,000 |
| Discount on redeemed preferred stock | 6,000,000 |
| Net income available to common stockholders | -2,998,000,000 |
| Basic EPS | -6.74 |
| Diluted EPS | -6.74 |
| Weighted average basic shares | 444,700,000 |
| Weighted average diluted shares | 444,700,000 |
| Total net revenue | 22,492,000,000 |
| Operating expense | 10,346,000,000 |
| Cash flow | |
| Net cash from operating activities | 10,733,000,000 |
| Net cash used in investing activities | 17,316,000,000 |
| Net cash from financing activities | -10,142,000,000 |
| Changes in premises and equipment | -747,000,000 |
| Dividends paid on common stock | -622,000,000 |
| Dividends paid on preferred stock | -122,000,000 |
| Purchases of treasury stock | -542,000,000 |
| Interest paid | 6,604,000,000 |
| Income taxes paid | 221,000,000 |
| Key metrics | |
| Average loans held for investment | 350,425,000,000 |
| Average interest earning assets | 494,022,000,000 |
| Average total assets | 532,354,000,000 |
| Average total deposits | 389,462,000,000 |
| Average common equity | 69,546,000,000 |
| Average total stockholders equity | 74,647,000,000 |
| Purchase volume | 359,401,000,000 |
| Net charge offs | 5,796,000,000 |
| Total net revenue margin | 9.11 |
| Net interest margin | 7.29 |
| Return on average assets | -1.07 |
| Return on average common equity | -8.58 |
| Return on average tangible common equity | -12.6 |
| Efficiency ratio | 57.32 |
| Operating efficiency ratio | 46.0 |
| Effective income tax rate continuing operations | 31.9 |
| Dividends declared per common share | 1.2 |
| Net charge off rate | 3.31 |
| Global payment network volume | 74,014,000,000 |
| Segment results | |
| Credit card | |
| Total net revenue | 16,260,000,000 |
| Provision for credit losses | 13,024,000,000 |
| Income from continuing operations net of tax | -3,698,000,000 |
| Loans held for investment | 269,709,000,000 |
| Deposits | 0 |
| Consumer banking | |
| Total net revenue | 4,682,000,000 |
| Provision for credit losses | 553,000,000 |
| Income from continuing operations net of tax | 636,000,000 |
| Loans held for investment | 81,233,000,000 |
| Deposits | 414,044,000,000 |
| Commercial banking | |
| Total net revenue | 1,821,000,000 |
| Provision for credit losses | 223,000,000 |
| Income from continuing operations net of tax | 475,000,000 |
| Loans held for investment | 88,355,000,000 |
| Deposits | 29,245,000,000 |
| Other | |
| Total net revenue | -271,000,000 |
| Provision for credit losses | -1,000,000 |
| Income from continuing operations net of tax | -272,000,000 |
| Loans held for investment | 0 |
| Deposits | 24,821,000,000 |
COF trailing twelve month income statement and cash flow
| Twelve months ended June 30, 2026 | |
|---|---|
| Label | Twelve months ended June 30, 2026 |
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 0000927628-26-000089 |
| Derived from accessions | 0000927628-26-000089; 0000927628-26-000024 |
| Derivation | Fiscal year 2025, as reported in the 10-K (accession 0000927628-26-000024), plus the six months ended June 30, 2026 less the six months ended June 30, 2025, both as reported in the 10-Q (accession 0000927628-26-000089). Only figures that add across periods are shown: no per-share amount or weighted-average share count is given, because those do not sum. |
| Income statement | |
| Total interest income | 66,066,000,000 |
| Total interest expense | 16,677,000,000 |
| Net interest income | 49,389,000,000 |
| Provision for credit losses | 13,913,000,000 |
| Total non interest income | 12,634,000,000 |
| Marketing expense | 6,495,000,000 |
| Total non interest expense | 35,112,000,000 |
| Income from continuing operations before income taxes | 12,998,000,000 |
| Income tax provision | 2,850,000,000 |
| Income from continuing operations net of tax | 10,148,000,000 |
| Income from discontinued operations net of tax | 372,000,000 |
| Net income | 10,520,000,000 |
| Dividends and undistributed earnings allocated to participating securities | -65,000,000 |
| Preferred stock dividends | -260,000,000 |
| Net income available to common stockholders | 10,195,000,000 |
| Total net revenue | 62,023,000,000 |
| Operating expense | 28,617,000,000 |
| Cash flow | |
| Net cash from operating activities | 31,452,000,000 |
| Net cash used in investing activities | -34,226,000,000 |
| Net cash from financing activities | -2,923,000,000 |
| Changes in premises and equipment | -1,751,000,000 |
| Dividends paid on common stock | -1,896,000,000 |
| Dividends paid on preferred stock | -260,000,000 |
| Purchases of treasury stock | -9,097,000,000 |
| Interest paid | 16,223,000,000 |
| Income taxes paid | 1,327,000,000 |
| Key metrics | |
| Net charge offs | 14,795,000,000 |
| Purchase volume | 943,356,000,000 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | None. Capital One reports in U.S. dollars, so no currency translation was applied. |
Notes
- Capital One is a bank holding company, so this record uses a banking presentation: net interest income, the provision for credit losses, non-interest income and expense, loans, deposits, book value per share and regulatory capital ratios. Revenue, cost of revenue and capital expenditure are the wrong frame for a lender and are not reported here.
- Periods reported are exactly those the two filings put on their face. The FY2025 10-K (accession 0000927628-26-000024, filed February 19, 2026) presents statements of income and cash flows for the years ended December 31, 2025, 2024 and 2023 and balance sheets as of December 31, 2025 and 2024. The Q2 2026 10-Q (accession 0000927628-26-000089, filed July 28, 2026) presents the three and six months ended June 30, 2026 and 2025, and balance sheets as of June 30, 2026 and December 31, 2025.
- Capital One acquired Discover Financial Services on May 18, 2025, so the fiscal 2025 and second-quarter 2025 figures include Discover only from that date and are not like-for-like with 2024 and 2023. Immediately after closing, in the second quarter of 2025, the company recorded an initial allowance for credit losses of $8.8 billion on the acquired loans that were not purchased credit-deteriorated, through the provision for credit losses. That charge sits inside both the $11.4 billion provision reported for the three months ended June 30, 2025 and the $20.7 billion provision reported for fiscal 2025, which is why those provisions, and the earnings below them, are so far above the surrounding periods.
- Income from discontinued operations is the Discover Home Loans business acquired in the Discover transaction and sold on November 24, 2025. Fiscal 2025 income from discontinued operations of $365 million was driven mainly by a $483 million pre-tax gain on that sale, and the cash flow statement shows $8.8 billion of proceeds from it in investing activities.
- Capital One completed its acquisition of Brex Inc. on April 7, 2026 for total consideration of approximately $4.5 billion ($2.6 billion of cash and 10.6 million shares with a fair value of $1.9 billion), recognising about $5.8 billion of assets including $3.1 billion of goodwill. Brex is reported within Domestic Card, part of the Credit Card segment, from the second quarter of 2026, which is the main reason goodwill rises from $28.5 billion at December 31, 2025 to $31.9 billion at June 30, 2026.
- The FY2023 balance sheet is partial by necessity: the 10-K's balance sheet presents only December 31, 2025 and 2024. The December 31, 2023 period-end amounts reported here (total assets, loans held for investment, deposits, borrowings, stockholders' equity, common equity, allowance for credit losses, tangible common equity, book value and tangible book value per share, shares outstanding) are the figures the 10-K prints in its Three-Year Summary of Selected Financial Data and its non-GAAP reconciliation table. No December 31, 2023 total-liabilities figure is printed in this 10-K, so none is reported.
- Book value per common share is as the 10-K prints it, which is total stockholders' equity divided by period-end common shares outstanding. The 10-Q does not print a book value per common share, so the quarterly entries carry only tangible book value per common share, which both filings print. Tangible book value per common share and the tangible common equity figures are the company's own non-GAAP measures: tangible common equity is common equity less goodwill and other intangible assets, inclusive of related deferred taxes.
- Investment securities held to maturity appear only in the second-quarter 2026 balance sheet, at $2.7 billion: Capital One held none at December 31, 2025 (the 10-Q prints a dash in that comparative column) and the 10-K's balance sheet shows a single securities-available-for-sale line for 2025 and 2024. So for the annual periods securities available for sale is the whole investment securities portfolio.
- Share counts are exact where a filing prints them exactly: 625,102,271 shares outstanding at December 31, 2025 and 381,230,343 at December 31, 2024 (from the 10-K balance sheet), and 613,484,836 at June 30, 2026 (from the 10-Q balance sheet). For December 31, 2023 and June 30, 2025 the only counts these filings print are rounded to the nearest hundred thousand (380.4 million and 639.5 million), and that is what is reported.
- The 10-Q presents cash flows for the six months ended June 30, 2026 and 2025 only, with no three-month column, so no discrete quarterly cash flow figures are reported. The six-month cash flows are in the year-to-date block.
- The year-to-date block covers the six months ended June 30, 2026, with the six months ended June 30, 2025 held inside it as a comparative. It carries no balance sheet or capital ratios of its own because those are point-in-time amounts as of June 30, 2026 and are already reported in the second-quarter 2026 entry.
- The trailing-twelve-month block is derived, not filed: fiscal 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. Only figures that add across periods are shown there. No trailing-twelve-month earnings per share or share count is given, because weighted-average share counts are not additive and Capital One's share count changed substantially over the period.
- Margins, returns, efficiency ratios and charge-off rates are the percentages the filings print. The interim ones are annualized by the company, as its own tables state, so a quarterly return on equity is comparable with an annual one rather than being one quarter of it.
- Signs follow the statements. Preferred stock dividends and the cash flow lines for dividends paid, treasury stock purchases and premises and equipment are negative, because the filings print them as deductions. The allowance for credit losses is reported as a positive amount, as the company's selected-data and credit-quality tables print it, rather than as the deduction shown on the face of the balance sheet.
- Segment results are the company's three reportable segments (Credit Card, Consumer Banking, Commercial Banking) plus the Other category, which is a reconciling category holding unallocated items and the residual tax effect and therefore often carries negative revenue. Segment loans held for investment and deposits are point-in-time balances at the period end. Commercial Banking revenue is presented on a taxable-equivalent basis with an offsetting reduction in Other, as the segment note states.
- Total borrowings equals securitized debt obligations plus total other debt on the balance sheet, which is how the filings' selected-data tables present it: $45.4 billion at June 30, 2026 and $51.0 billion at December 31, 2025.
- Every figure in this record is taken from the printed financial statements and supporting tables of the two filings named above: the FY2025 10-K (accession 0000927628-26-000024) and the second-quarter 2026 10-Q (accession 0000927628-26-000089).
- No split, currency or depositary-share adjustment applies. Capital One has had no stock split in this record's period, reports in U.S. dollars, and is a domestic filer rather than an ADR issuer.
Uncertainties
- The second quarter of 2025 has no full balance sheet, because this 10-Q's balance sheet presents June 30, 2026 and December 31, 2025. What is reported at June 30, 2025 is only what the 10-Q prints elsewhere: total assets, total stockholders' equity, and tangible common equity and the tangible common equity ratio from the non-GAAP reconciliation table, loans held for investment and deposits from the consolidated total column of the segment note, and shares outstanding and tangible book value per share. Cash, securities, liabilities and the allowance at that date are not reported because this filing does not print them.
- The regulatory capital ratios at June 30, 2025 - common equity Tier 1, Tier 1, total capital, Tier 1 leverage and supplementary leverage - are not reported: the 10-Q's regulatory capital table presents June 30, 2026 and December 31, 2025 only. The tangible common equity ratio at June 30, 2025 is reported, because the 10-Q's non-GAAP reconciliation prints it. Likewise the allowance coverage ratio, the delinquency rates and the period-end employee count are reported for June 30, 2026 but not for June 30, 2025, which the filing does not print.
- Trailing-twelve-month figures are arithmetic from three filed periods rather than amounts any filing states. They span the Discover acquisition and the sale of the Discover Home Loans business, so they mix periods of different scope.
- The December 31, 2023 and June 30, 2025 share counts, and therefore any per-share comparison using them, are rounded to the nearest hundred thousand, because that is the precision the filings print for those dates.
- Capital One's Global Payment Network volume, purchase volume and average balances are management measures from the selected-data tables rather than audited statement lines; they are reported as printed.
Company details
| Value | |
|---|---|
| Name | Capital One Financial Corp |
| Ticker | COF |
| CIK | 0000927628 |
| Exchange | NYSE |
| State | Virginia |
| Incorporation | Delaware |
| SIC | 6021 |
| Office | Finance |
| Industry | National Commercial Banks |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0000927628-26-000089 |
| Fiscal year end | 1231 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Url | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2025-12-31 | 2026-02-19 | 0000927628-26-000024 | https://www.sec.gov/Archives/edgar/data/927628/000092762826000024/0000927628-26-000024-index.htm | reported |
| quarterly | yes | 10-Q | 2026 | Q2 | FY26Q2 | 2026-06-30 | 2026-07-28 | 0000927628-26-000089 | https://www.sec.gov/Archives/edgar/data/927628/000092762826000089/0000927628-26-000089-index.htm | facts |
FAQ · Capital One Financial financial statements
How much revenue did Capital One report in Q2 FY2026?
Capital One Financial Corporation reported total net revenue of $15.85 billion for Q2 FY2026, the quarter ended June 30, 2026. That is up 26.9% from $12.49 billion in the same quarter a year earlier, mainly reflecting the credit card and payment network businesses added with Discover Financial Services.
What was Capital One's net income in Q2 FY2026?
Capital One Financial Corporation earned net income of $3.02 billion in Q2 FY2026, the quarter ended June 30, 2026, or $4.73 per diluted common share. A year earlier Capital One posted a net loss of $4.28 billion, or a loss of $8.58 per share.
Why did Capital One swing back to a profit in Q2 FY2026?
Capital One Financial Corporation's provision for credit losses was $2.99 billion in Q2 FY2026, down from $11.43 billion a year earlier, when it recorded the initial allowance for credit losses on loans acquired in the Discover Financial Services transaction. The absence of that charge, together with higher net interest income and fee income from a larger credit card book, moved Capital One from a net loss of $4.28 billion to net income of $3.02 billion.
What was Capital One's net interest margin in Q2 FY2026?
Capital One Financial Corporation's net interest margin was 8.0% in Q2 FY2026, the quarter ended June 30, 2026, up 0.4 points from 7.6% a year earlier. Capital One attributes the higher net interest income behind it to higher average credit card loan balances, largely from the Discover Financial Services acquisition.
Where can I get Capital One Financial Corporation (COF) financial data in machine-readable form?
Ticker Scout publishes Capital One Financial Corporation's financial statements as JSON at https://tickerscout.ai/cof/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/cof/narrative.md and https://tickerscout.ai/cof/events.md. Capital One Financial Corporation's SEC CIK is 0000927628. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Capital One Financial Corporation (COF) next file with the SEC?
Capital One Financial Corporation (COF) is expected to file its next Form 10-Q with the SEC on or around November 2, 2026. That date is a projection rather than a company-announced date: it is derived from Capital One Financial Corporation's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000927628-26-000089.
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How this page was built
This page was built from two of Capital One Financial Corporation's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names five such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Capital One Financial Corporation's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.