Capital One Financial Corporation (COF) Income Statement
COF 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCOF revenue and net income
Where COF's revenue goes
2025Each bar shows an amount and its share of revenue. COF kept 3.5% of revenue as net income.
COF profit margins
COF growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +28.4% | +21.7% | +17.0% | +10.7% |
| Gross profit | +19.6% | +4.9% | +12.4% | +5.7% |
| Operating income | −61.4% | −37.3% | −6.6% | −9.0% |
| Net income | −48.4% | −30.7% | −2.0% | −4.9% |
| EPS (diluted) | +38.7% | +3.2% | +27.6% | +10.0% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
COF quarterly EPS vs estimates
Capital One beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: October 20, 2026 (estimate $5.45).
COF income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.25B | $53.94B | $49.48B | $38.37B | $32.03B | $31.64B | $33.77B | $31.88B | $30.00B | $27.52B |
| Cost of revenue | $36.47B | $26.54B | $23.12B | $9.97B | −$346.0M | $13.38B | $11.41B | $10.16B | $10.31B | $8.48B |
| Gross profit | $32.78B | $27.40B | $26.36B | $28.40B | $32.38B | $18.26B | $22.36B | $21.72B | $19.69B | $19.04B |
| Research & development | — | — | — | — | — | — | — | — | $0 | $0 |
| Sales, general & admin | $18.36B | $13.96B | $13.31B | $12.44B | $10.29B | $8.41B | $8.66B | $7.90B | $7.57B | $7.01B |
| Total operating expenses | $30.50B | $21.49B | $20.32B | $19.16B | $16.57B | $15.06B | $15.48B | $14.40B | $14.19B | $13.56B |
| Operating income | $2.28B | $5.91B | $6.04B | $9.24B | $15.81B | $3.20B | $6.87B | $7.32B | $5.49B | $5.48B |
| Interest income | $58.70B | $46.03B | $39.95B | $31.24B | $25.77B | $26.03B | $28.51B | $27.18B | $25.22B | $22.89B |
| Interest expense | $15.82B | $14.83B | $12.70B | $4.12B | $1.60B | $3.12B | $5.17B | $4.30B | $2.76B | $2.02B |
| Income before taxes | $2.28B | $5.91B | $6.04B | $9.24B | $15.81B | $3.20B | $6.87B | $7.32B | $5.49B | $5.48B |
| Income taxes | $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 |
| EBITDA | $7.54B | $9.15B | $9.27B | $12.45B | $19.29B | $6.70B | $10.21B | $9.71B | $7.93B | $7.91B |
| EPS (diluted) | $19.35 | $13.95 | $12.52 | $17.60 | $27.01 | $5.71 | $12.08 | $10.86 | $7.75 | $7.30 |
| Gross margin | 47.3% | 50.8% | 53.3% | 74.0% | 101.1% | 57.7% | 66.2% | 68.1% | 65.6% | 69.2% |
| Operating margin | 3.3% | 11.0% | 12.2% | 24.1% | 49.4% | 10.1% | 20.4% | 23.0% | 18.3% | 19.9% |
| Net margin | 3.5% | 8.8% | 9.9% | 19.2% | 38.7% | 8.6% | 16.4% | 18.9% | 6.6% | 13.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.86B | $19.32B | $19.61B | $19.82B | $16.41B | $13.40B | $13.81B | $13.80B | $13.27B | $13.09B | $13.13B | $12.82B |
| Cost of revenue | $2.99B | $8.15B | $8.36B | $7.07B | $15.26B | $5.77B | $6.26B | $6.27B | $7.64B | $6.37B | $6.48B | $5.73B |
| Gross profit | $16.87B | $11.16B | $11.25B | $12.75B | $1.15B | $7.63B | $7.55B | $7.53B | $5.62B | $6.72B | $6.65B | $7.08B |
| Sales, general & admin | $8.55B | $5.17B | $5.36B | $4.90B | $4.34B | $3.75B | $3.70B | $3.50B | $3.26B | $3.49B | $3.54B | $3.25B |
| Total operating expenses | $9.53B | $8.46B | $9.15B | $8.37B | $7.08B | $5.90B | $6.09B | $5.31B | $4.97B | $5.14B | $5.72B | $4.86B |
| Operating income | $7.34B | $2.70B | $2.10B | $4.38B | −$5.93B | $1.73B | $1.46B | $2.22B | $651.0M | $1.58B | $932.0M | $2.22B |
| Interest income | $16.39B | $16.23B | $16.69B | $16.76B | $13.83B | $11.42B | $11.72B | $11.86B | $11.28B | $11.18B | $11.14B | $10.87B |
| Interest expense | $4.01B | $4.09B | $4.22B | $4.36B | $3.83B | $3.40B | $3.62B | $3.78B | $3.73B | $3.69B | $3.63B | $3.45B |
| Income before taxes | $3.82B | $2.70B | $2.10B | $4.38B | −$5.93B | $1.73B | $1.46B | $2.22B | $651.0M | $1.58B | $932.0M | $2.22B |
| Income taxes | $798.0M | $518.0M | $345.0M | $1.19B | −$1.67B | $325.0M | $366.0M | $441.0M | $54.0M | $302.0M | $226.0M | $432.0M |
| Net income | $3.02B | $2.17B | $2.13B | $3.19B | −$4.28B | $1.40B | $1.10B | $1.78B | $597.0M | $1.28B | $706.0M | $1.79B |
| EBITDA | $8.93B | $4.21B | $3.70B | $6.21B | −$4.92B | $2.54B | $2.27B | $3.02B | $1.46B | $2.39B | $1.73B | $3.07B |
| EPS (diluted) | $5.81 | $4.42 | $3.86 | $5.95 | $5.48 | $4.06 | $3.09 | $4.51 | $3.14 | $3.21 | $2.24 | $4.45 |
| Gross margin | 85.0% | 57.8% | 57.4% | 64.3% | 7.0% | 56.9% | 54.7% | 54.6% | 42.4% | 51.3% | 50.6% | 55.3% |
| Operating margin | 37.0% | 14.0% | 10.7% | 22.1% | −36.1% | 12.9% | 10.6% | 16.1% | 4.9% | 12.1% | 7.1% | 17.3% |
| Net margin | 15.2% | 11.3% | 10.9% | 16.1% | −26.1% | 10.5% | 7.9% | 12.9% | 4.5% | 9.8% | 5.4% | 14.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in COF's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
COF financial results
In fiscal year 2025 (ended December 31, 2025), Capital One reported revenue of $69.3 billion, up 28.4% from the year before. It had net income of $2.5 billion (down 48.4%), a net profit margin of 3.5%. Diluted earnings per share came to $19.35. Over five years revenue grew at an average rate of 17.0% a year.
See the COF stock overview for the latest quote and news, or the COF chart for price history and technical indicators.
COF income statement FAQ
What is Capital One's annual revenue?
Capital One reported total revenue of $69.3 billion for fiscal year 2025, which ended on December 31, 2025. That was up 28.4% from $53.9 billion the previous year.
Is Capital One profitable?
Yes. Capital One reported net income of $2.5 billion in fiscal 2025, a net profit margin of 3.5%; its operating margin was 3.3%.
What is Capital One's gross margin?
Capital One's gross margin was 47.3% in fiscal 2025: for every $100 of revenue, Capital One kept $47 after the direct cost of its products and services.
How fast is Capital One growing?
Revenue grew 17.0% a year on average over the last five fiscal years, from $31.6 billion to $69.3 billion.
What are Capital One's earnings per share?
Capital One earned $19.35 per diluted share in fiscal 2025, compared with $13.95 a year earlier.
When will Capital One report its next earnings?
Capital One is expected to report results for the quarter ending September 30, 2026 on October 20, 2026 after the market closes.
When does Capital One's fiscal year end?
Capital One's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.