Companies
Capital One Financial Corp
NYSE: COF
$201.74
▲ $2.88 (+1.45%) today
Markets closed · 10:36pm ET

Capital One (COF) Q4 2025 Earnings

Reported Jan 22, 2026, 4:14pm ET · SEC source
$3.86
Miss −6.82%
EPS · est. $4.14
$15.6B
Beat +0.74%
Revenue · est. $15.5B
−5.9%
Trailing market
COF vs S&P since report
3 quarters
Consecutive EPS misses

How Did COF Stock React to Q4 2025 Earnings?

% change · around the report
−3%0+3%+6%Jan 22Jan 23report 4:14pm ETearnings−0.1%−2.7%
−3%0+3%+6%Jan 22Jan 23earnings−0.1%−2.7%
COF −2.7%S&P 500 −0.1%
−3%0+3%+6%Jan 22Jan 23report 4:14pm ETearnings+0.2%−2.7%
−3%0+3%+6%Jan 22Jan 23earnings+0.2%−2.7%
COF −2.7%NASDAQ +0.2%
−6%−3%0+3%Jan 21Jan 30report 4:14pm ETearnings+0.4%−4.2%
−6%−3%0+3%Jan 21Jan 30earnings+0.4%−4.2%
COF −4.2%S&P 500 +0.4%
−6%−3%0+3%Jan 21Jan 30report 4:14pm ETearnings+0.1%−4.2%
−6%−3%0+3%Jan 21Jan 30earnings+0.1%−4.2%
COF −4.2%NASDAQ +0.1%
−7.56%
Day of report
+1.33%
Next session
+0.75%
One week
−5.30%
30 days

S&P 500 over the same 30 days: +0.57%.

Did COF Beat Earnings? Q4 2025 Results

No. Capital One reported Q4 2025 earnings of $3.86 a share on Jan 22, 2026, missing the $4.14 consensus estimate by 6.8%. Revenue was $15.6B against a $15.5B estimate.

Capital One closed Q4 2025 with a mixed result that underscored both the transformative scale of its Discover integration and the near-term costs that come with it, as adjusted EPS of $3.86 missed the $4.14 consensus estimate by 6.76% even as revenue of $15.58 billion exceeded expectations and grew 12.8% year over year. The primary driver behind the earnings shortfall was a surge in non-interest expense, which climbed 53% year over year to $9.34 billion, reflecting Discover integration costs, a $352 million integration expense charge, and a sharp 38% sequential jump in marketing spend. The acquisition, completed in May 2025, reshaped Capital One's footprint dramatically, with period-end credit card loans expanding 72% year over year to $279.57 billion and net interest margin improving 123 basis points from the prior-year period to 8.26%. Looking ahead, the company's announced agreement to acquire Brex Inc. for $5.15 billion signals that management is far from finished building, with analysts broadly maintaining a constructive view on the stock's long-term upside as integration synergies take hold.

Key Takeaways
  • Discover acquisition completed May 2025 driving 53% YoY revenue growth
  • Net interest margin expansion to 8.26% reflecting higher-yielding card portfolio
  • Credit card period-end loans increased 72% YoY to $279.6 billion
  • Auto period-end loans grew 9% YoY to $83.6 billion
  • Non-interest income increased 49% YoY driven by discount and interchange fees
  • Deposit growth of 31% YoY to $475.8 billion

“Our fourth quarter and full year results reflect solid top line growth and strong and stable credit performance”

Capital One CEO, on the earnings call

What Was Capital One's Outlook in Q4 2025?

Capital One announced a definitive agreement on January 22, 2026 to acquire Brex Inc. for $5.15 billion in approximately 50% cash and 50% stock consideration, signaling continued strategic expansion. CEO Fairbank expressed confidence in the number and quality of opportunities ahead, noting that years of strategic preparation position the company well for long-term growth and returns.

COF YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$5.0B$10.0B$15.0B$13.8B$15.6BRevenue$1.1B$2.1BNet Income$1.5B$2.1BOperating Income
$0$5.0B$10.0B$15.0BRevenueNet IncomeOperating Income
COF income statement, Q4 2025 versus Q4 2024
Metric Q4 2025 Q4 2024 Year over year
Revenue $15.6B $13.8B +12.9%
Net Income $2.1B $1.1B +94.7%
Operating Income $2.1B $1.5B +43.9%

COF Revenue by Segment

Domestic Card$11.8B
Credit Card$11.7B
Consumer Banking$2.9B
Commercial Banking$930.0M

Figures from SEC filings and company reports. Not investment advice.