Capital One Financial Corp. (NYSE:COF) released its third-quarter earnings report after Tuesday's closing bell. Here's a look at the key figures from the quarter. COF stock is moving. See the real-time price action here.The Details: Capital One reported quarterly earnings of $5.95 per share, which beat the analyst estimate of $4.37 by 36%.Quarterly revenue came in at $15.35 billion, which beat the Street estimate of $15.07 billion and was up from revenue of $10.01 billion from the same period last year.Read ...

[Capital One Financial Corporation Consolidated Results](index=2&type=section&id=Capital%20One%20Financial%20Corporation%20Consolidated%20Results) Overview of Capital One's consolidated financial performance, including income statement, balance sheet, and key metrics across various periods [Financial Summary—Consolidated](index=2&type=section&id=Table%201%3A%20Financial%20Summary%E2%80%94Consolidated) Presents Capital One's consolidated income statement and balance sheet data, highlighting key financial metrics for recent quarters and year-to-date periods Q3 2025 vs. Q3 2024 Income Statement Highlights | Metric | Q3 2025 (Millions USD) | Q3 2024 (Millions USD) | YoY Change (%) | | :-------------------------- | :--------------------- | :--------------------- | :------------- | | Net interest income | $12,404 | $8,076 | 54% | | Non-interest income | $2,955 | $1,938 | 52% | | Total net revenue | $15,359 | $10,014 | 53% | | Provision for credit losses | $2,714 | $2,482 | 9% | | Total non-interest expense | $8,263 | $5,314 | 55% | | Net income (loss) | $3,192 | $1,777 | 80% | | Diluted EPS | $4.83 | $4.41 | 10% | Q3 2025 vs. Q3 2024 Balance Sheet Highlights (Period-End) | Metric | Q3 2025 (Millions USD) | Q3 2024 (Millions USD) | YoY Change (%) | | :------------------------ | :--------------------- | :--------------------- | :------------- | | Loans held for investment | $443,159 | $320,243 | 38% | | Total assets | $661,877 | $486,433 | 36% | | Total deposits | $468,785 | $353,631 | 33% | | Common equity | $108,406 | $58,080 | 87% | Nine Months Ended Sep 30, 2025 vs. 2024 Income Statement Highlights | Metric | 9M 2025 (Millions USD) | 9M 2024 (Millions USD) | YoY Change (%) | | :-------------------------- | :--------------------- | :--------------------- | :------------- | | Net interest income | $30,412 | $23,110 | 32% | | Total net revenue | $37,851 | $28,922 | 31% | | Provision for credit losses | $16,513 | $9,074 | 82% | | Net income (loss) | $319 | $3,654 | (91)% | | Diluted EPS | $0.23 | $8.92 | (97)% | [Selected Metrics—Consolidated](index=4&type=section&id=Table%202%3A%20Selected%20Metrics%E2%80%94Consolidated) Details Capital One's consolidated performance, credit quality, and capital metrics, including growth, margins, returns, and regulatory ratios Q3 2025 vs. Q3 2024 Performance Metrics | Metric | Q3 2025 | Q3 2024 | Change (bps/%) | | :-------------------------------- | :------ | :------ | :------------- | | Net interest income growth (YoY) | 24% | 7% | 17% pts | | Total net revenue growth (YoY) | 23% | 2% | 21% pts | | Net interest margin | 8.36% | 7.11% | 125 bps | | Return on average assets | 1.94% | 1.48% | 46 bps | | Return on average common equity | 11.50% | 11.99% | (49) bps | | Efficiency ratio | 53.80% | 53.07% | 73 bps | | Employees (period-end, thousands) | 77.0 | 52.5 | 47% | Q3 2025 vs. Q3 2024 Credit Quality Metrics | Metric | Q3 2025 | Q3 2024 | Change (bps/%) | | :-------------------------- | :------ | :------ | :------------- | | Allowance for credit losses | $23,103M | $16,534M | 40% | | Allowance coverage ratio | 5.21% | 5.16% | 5 bps | | Net charge-off rate | 3.16% | 3.27% | (11) bps | | 30+ day delinquency rate | 3.50% | 3.89% | (39) bps | Q3 2025 vs. Q3 2024 Capital Ratios | Metric | Q3 2025 | Q3 2024 | Change (bps) | | :-------------------- | :------ | :------ | :----------- | | Common equity Tier 1 | 14.4% | 13.6% | 80 bps | | Tier 1 capital | 15.5% | 14.9% | 60 bps | | Total capital | 17.4% | 16.6% | 80 bps | | Tangible common equity | 10.8% | 9.1% | 170 bps | [Consolidated Statements of Income](index=5&type=section&id=Table%203%3A%20Consolidated%20Statements%20of%20Income) Provides detailed consolidated income statement data, breaking down interest income, interest expense, non-interest income, and non-interest expense components Q3 2025 vs. Q3 2024 Interest Income & Expense (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------- | :------ | :------ | :------------- | | Total interest income | $16,763 | $11,860 | 41% | | Total interest expense | $4,359 | $3,784 | 15% | | Net interest income | $12,404 | $8,076 | 54% | Q3 2025 vs. Q3 2024 Non-Interest Income (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :---------------------------------- | :------ | :------ | :------------- | | Discount and interchange fees, net | $1,812 | $1,228 | 48% | | Service charges and other customer-related fees | $849 | $501 | 69% | | Total non-interest income | $2,955 | $1,938 | 52% | Q3 2025 vs. Q3 2024 Non-Interest Expense (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------- | :------ | :------ | :------------- | | Salaries and associate benefits | $3,496 | $2,391 | 46% | | Marketing | $1,403 | $1,113 | 26% | | Amortization of intangibles | $514 | $20 | 90% | | Total non-interest expense | $8,263 | $5,314 | 55% | [Consolidated Balance Sheets](index=7&type=section&id=Table%204%3A%20Consolidated%20Balance%20Sheets) Presents the consolidated balance sheet, detailing assets, liabilities, and stockholders' equity components for Capital One Q3 2025 vs. Q3 2024 Asset Highlights (Millions USD) | Asset Category | Q3 2025 | Q3 2024 | YoY Change (%) | | :---------------------------------- | :------ | :------ | :------------- | | Total cash and cash equivalents | $55,279 | $49,298 | 12% | | Securities available for sale | $89,733 | $83,500 | 7% | | Total loans held for investment | $443,159 | $320,243 | 38% | | Allowance for credit losses | $(23,103) | $(16,534) | 40% | | Goodwill | $28,863 | $15,083 | 91% | | Other intangible assets | $17,042 | $253 | ** | | Total assets | $661,877 | $486,433 | 36% | Q3 2025 vs. Q3 2024 Liability & Equity Highlights (Millions USD) | Category | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------- | :------ | :------ | :------------- | | Total deposits | $468,785 | $353,631 | 33% | | Securitized debt obligations | $13,642 | $15,881 | (14)% | | Total other debt | $37,840 | $33,455 | 13% | | Total liabilities | $548,064 | $423,508 | 29% | | Total stockholders' equity | $113,813 | $62,925 | 81% | [Notes to Financial Summary, Selected Metrics and Consolidated Financial Statements (Tables 1—4)](index=9&type=section&id=Table%205%3A%20Notes%20to%20Financial%20Summary%2C%20Selected%20Metrics%20and%20Consolidated%20Financial%20Statements%20(Tables%201%E2%80%944)) Provides explanatory notes and definitions for consolidated financial summaries, selected metrics, and statements, including non-GAAP measures and Discover acquisition impacts - Total net revenue was reduced by **$869 million** in Q3 2025 for credit card finance charges and fees charged off as uncollectible, an increase from **$624 million** in Q3 2024[12](index=12&type=chunk) - The Financial Supplement includes non-GAAP measures, believed useful for assessing performance and capital adequacy, but not a substitute for GAAP results[2](index=2&type=chunk) - The Discover acquisition completed on **May 18, 2025**, with reported results from that date to **September 30, 2025**[2](index=2&type=chunk) - Charge-offs exclude **$19.4 billion** of Discover loans acquired in Q2 2025 that were fully charged-off, with expected recoveries of **$3.3 billion** included as an allowance for credit losses benefit[12](index=12&type=chunk) [Average Balances, Net Interest Income and Net Interest Margin](index=10&type=section&id=Table%206%3A%20Average%20Balances%2C%20Net%20Interest%20Income%20and%20Net%20Interest%20Margin) Details average balances for interest-earning assets and liabilities, corresponding income/expense, yields/rates, and calculates net interest income and margin Q3 2025 vs. Q3 2024 Average Balances & Yields | Metric | Q3 2025 | Q3 2024 | Change (bps/%) | | :-------------------------------- | :------ | :------ | :------------- | | Average interest-earning assets | $593,247M | $454,484M | 30.5% | | Average loans, including held for sale | $440,374M | $318,715M | 38.2% | | Yield on loans | 13.83% | 13.24% | 59 bps | | Average interest-bearing deposits | $439,527M | $324,509M | 35.4% | | Rate on interest-bearing deposits | 3.27% | 3.63% | (36) bps | | Net interest income | $12,404M | $8,076M | 53.6% | | Net interest margin | 8.36% | 7.11% | 125 bps | Nine Months Ended Sep 30, 2025 vs. 2024 Average Balances & Yields | Metric | 9M 2025 | 9M 2024 | Change (bps/%) | | :-------------------------------- | :------ | :------ | :------------- | | Average interest-earning assets | $527,461M | $451,078M | 16.9% | | Yield on total interest-earning assets | 10.62% | 10.14% | 48 bps | | Rate on total interest-bearing liabilities | 3.53% | 4.01% | (48) bps | | Net interest margin | 7.69% | 6.83% | 86 bps | [Loan Information and Performance Statistics](index=11&type=section&id=Table%207%3A%20Loan%20Information%20and%20Performance%20Statistics) Provides detailed loan information and performance statistics by segment, including period-end loans, charge-off rates, delinquency rates, and nonperforming loan rates Q3 2025 vs. Q3 2024 Period-End Loans Held for Investment (Millions USD) | Loan Category | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------------- | :------ | :------ | :------------- | | Total credit card | $271,037 | $156,651 | 73% | | Total consumer banking | $83,230 | $76,758 | 8% | | Total commercial banking | $88,892 | $86,834 | 2% | | Total loans held for investment | $443,159 | $320,243 | 38% | Q3 2025 vs. Q3 2024 Net Charge-Off Rates | Loan Category | Q3 2025 | Q3 2024 | Change (bps) | | :-------------------------- | :------ | :------ | :----------- | | Total credit card | 4.61% | 5.60% | (99) bps | | Total consumer banking | 1.58% | 2.11% | (53) bps | | Total commercial banking | 0.21% | 0.22% | (1) bps | | Total net charge-offs | 3.16% | 3.27% | (11) bps | Q3 2025 vs. Q3 2024 Nonperforming Loan Rates | Loan Category | Q3 2025 | Q3 2024 | Change (bps) | | :-------------------------- | :------ | :------ | :----------- | | Total credit card | 0.01% | 0.01% | 0 bps | | Total consumer banking | 0.73% | 0.93% | (20) bps | | Total commercial banking | 1.39% | 1.55% | (16) bps | | Total nonperforming loans | 0.42% | 0.65% | (23) bps | [Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity](index=14&type=section&id=Table%208%3A%20Allowance%20for%20Credit%20Losses%20and%20Reserve%20for%20Unfunded%20Lending%20Commitments%20Activity) Details activity in the allowance for credit losses and reserve for unfunded lending commitments by segment, including balances, charge-offs, and provisions Allowance for Credit Losses Activity (Q3 2025, Millions USD) | Category | Balance as of Jun 30, 2025 | Net Charge-offs | Provision for Credit Losses | Balance as of Sep 30, 2025 | | :-------------------------- | :------------------------- | :-------------- | :-------------------------- | :------------------------- | | Total Credit Card | $20,474 | $(3,101) | $2,364 | $19,727 | | Total Consumer Banking | $1,864 | $(326) | $340 | $1,878 | | Commercial Banking | $1,535 | $(46) | $9 | $1,498 | | Total | $23,873 | $(3,473) | $2,713 | $23,103 | Allowance for Credit Losses Activity (Nine Months Ended Sep 30, 2025, Millions USD) | Category | Balance as of Dec 31, 2024 | Net Charge-offs | Initial Allowance for PCD Loans | Benefit from Expected Recoveries | Provision for Credit Losses | Balance as of Sep 30, 2025 | | :-------------------------- | :------------------------- | :-------------- | :------------------------------ | :------------------------------- | :-------------------------- | :------------------------- | | Total Credit Card | $12,974 | $(8,228) | $2,870 | $(3,305) | $15,388 | $19,727 | | Total Consumer Banking | $1,884 | $(899) | — | — | $893 | $1,878 | | Commercial Banking | $1,400 | $(142) | — | — | $240 | $1,498 | | Total | $16,258 | $(9,269) | $2,870 | $(3,305) | $16,521 | $23,103 | - The initial allowance for credit losses for non-purchased credit deteriorated ("non-PCD") loans acquired in the Discover Acquisition was **$8.8 billion** in Q2 2025[28](index=28&type=chunk) [Business Segment Results](index=15&type=section&id=Business%20Segment%20Results) Presents Capital One's financial performance broken down by its Credit Card, Consumer Banking, Commercial Banking, and Other business segments [Financial Summary—Business Segment Results](index=15&type=section&id=Table%209%3A%20Financial%20Summary%E2%80%94Business%20Segment%20Results) Provides a financial summary by business segment, including Credit Card, Consumer Banking, Commercial Banking, and Other, detailing income statement components Q3 2025 Segment Performance (Millions USD) | Metric | Credit Card | Consumer Banking | Commercial Banking | Other | Total | | :-------------------------------- | :---------- | :--------------- | :----------------- | :---- | :---- | | Net interest income | $9,396 | $2,357 | $586 | $65 | $12,404 | | Non-interest income | $2,211 | $475 | $318 | $(49) | $2,955 | | Total net revenue | $11,607 | $2,832 | $904 | $16 | $15,359 | | Provision for credit losses | $2,364 | $340 | $9 | $1 | $2,714 | | Non-interest expense | $5,409 | $1,941 | $520 | $393 | $8,263 | | Income (loss) from continuing operations, net of tax | $2,920 | $420 | $286 | $(433) | $3,193 | Nine Months Ended Sep 30, 2025 Segment Performance (Millions USD) | Metric | Credit Card | Consumer Banking | Commercial Banking | Other | Total | | :-------------------------------- | :---------- | :--------------- | :----------------- | :---- | :---- | | Total net revenue | $27,867 | $7,514 | $2,725 | $(255) | $37,851 | | Provision for credit losses | $15,388 | $893 | $232 | $0 | $16,513 | | Income (loss) from continuing operations, net of tax | $(778) | $1,056 | $761 | $(705) | $334 | [Financial & Statistical Summary—Credit Card Business](index=16&type=section&id=Table%2010%3A%20Financial%20%26%20Statistical%20Summary%E2%80%94Credit%20Card%20Business) Details the Credit Card business segment's financial and statistical summary, including earnings, performance metrics, and FICO scores Q3 2025 vs. Q3 2024 Credit Card Earnings (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------- | :------ | :------ | :------------- | | Net interest income | $9,396 | $5,743 | 64% | | Non-interest income | $2,211 | $1,509 | 47% | | Total net revenue | $11,607 | $7,252 | 60% | | Provision for credit losses | $2,364 | $2,084 | 13% | | Non-interest expense | $5,409 | $3,367 | 61% | | Income (loss) from continuing operations, net of tax | $2,920 | $1,374 | 113% | Q3 2025 vs. Q3 2024 Credit Card Performance Metrics | Metric | Q3 2025 | Q3 2024 | Change (bps/%) | | :-------------------------------- | :------ | :------ | :------------- | | Period-end loans held for investment | $271,037M | $156,651M | 73% | | Average yield on loans outstanding | 17.99% | 19.66% | (167) bps | | Net charge-off rate | 4.61% | 5.60% | (99) bps | | 30+ day performing delinquency rate | 3.84% | 4.53% | (69) bps | | Purchase volume | $230,379M | $166,203M | 39% | Domestic Card Refreshed FICO Scores (Q3 2025 vs. Q3 2024) | FICO Score | Q3 2025 | Q3 2024 | Change (% pts) | | :--------- | :------ | :------ | :------------- | | > 660 | 73% | 69% | 4% pts | | <= 660 | 27% | 31% | (4)% pts | [Financial & Statistical Summary—Consumer Banking Business](index=18&type=section&id=Table%2011%3A%20Financial%20%26%20Statistical%20Summary%E2%80%94Consumer%20Banking%20Business) Presents the Consumer Banking segment's financial and statistical summary, including earnings, performance metrics, Global Payment Network volume, and auto loan FICO scores Q3 2025 vs. Q3 2024 Consumer Banking Earnings (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------------- | :------ | :------ | :------------- | | Net interest income | $2,357 | $2,028 | 16% | | Total net revenue | $2,832 | $2,210 | 28% | | Provision for credit losses | $340 | $351 | (3)% | | Income from continuing operations, net of tax | $420 | $403 | 4% | Q3 2025 vs. Q3 2024 Consumer Banking Performance Metrics | Metric | Q3 2025 | Q3 2024 | Change (bps/%) | | :-------------------------------- | :------ | :------ | :------------- | | Period-end loans held for investment | $83,230M | $76,758M | 8% | | Average yield on loans held for investment | 9.52% | 8.88% | 64 bps | | Auto loan originations | $10,731M | $9,158M | 17% | | Period-end deposits | $416,765M | $309,569M | 35% | | Net charge-off rate | 1.58% | 2.11% | (53) bps | | 30+ day performing delinquency rate | 4.93% | 5.53% | (60) bps | | Global Payment Network volume | $153,117M | — | ** | Auto—At origination FICO scores (Q3 2025 vs. Q3 2024) | FICO Score | Q3 2025 | Q3 2024 | Change (% pts) | | :--------- | :------ | :------ | :------------- | | > 660 | 51% | 53% | (2)% pts | | <= 620 | 30% | 27% | 3% pts | [Financial & Statistical Summary—Commercial Banking Business](index=19&type=section&id=Table%2012%3A%20Financial%20%26%20Statistical%20Summary%E2%80%94Commercial%20Banking%20Business) Provides the Commercial Banking segment's financial and statistical summary, including earnings, performance metrics, and a risk category breakdown of loans Q3 2025 vs. Q3 2024 Commercial Banking Earnings (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------------- | :------ | :------ | :------------- | | Net interest income | $586 | $596 | (2)% | | Total net revenue | $904 | $888 | 2% | | Provision for credit losses | $9 | $48 | (81)% | | Income from continuing operations, net of tax | $286 | $263 | 9% | Q3 2025 vs. Q3 2024 Commercial Banking Performance Metrics | Metric | Q3 2025 | Q3 2024 | Change (bps/%) | | :-------------------------------- | :------ | :------ | :------------- | | Period-end loans held for investment | $88,892M | $86,834M | 2% | | Average yield on loans held for investment | 6.42% | 7.25% | (83) bps | | Period-end deposits | $29,920M | $30,598M | (2)% | | Average deposits interest rate | 2.13% | 2.55% | (42) bps | | Net charge-off rate | 0.21% | 0.22% | (1) bps | | Nonperforming loan rate | 1.39% | 1.55% | (16) bps | Commercial Banking Risk Category as a Percentage of Period-End Loans (Q3 2025 vs. Q3 2024) | Risk Category | Q3 2025 | Q3 2024 | Change (% pts) | | :-------------------------- | :------ | :------ | :------------- | | Noncriticized | 93.48% | 90.79% | 2.69% pts | | Criticized performing | 5.13% | 7.66% | (2.53)% pts | | Criticized nonperforming | 1.39% | 1.55% | (0.16)% pts | [Financial & Statistical Summary—Other and Total](index=20&type=section&id=Table%2013%3A%20Financial%20%26%20Statistical%20Summary%E2%80%94Other%20and%20Total) Presents a financial and statistical summary for the 'Other' segment and consolidated 'Total' for Capital One, including earnings and performance metrics Q3 2025 vs. Q3 2024 "Other" Segment Performance (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------------- | :------ | :------ | :------------- | | Net interest income (loss) | $65 | $(291) | ** | | Total net revenue (loss) | $16 | $(336) | ** | | Non-interest expense | $393 | $121 | 15% | | Loss from continuing operations, net of tax | $(433) | $(263) | 65% | Q3 2025 vs. Q3 2024 Total Consolidated Performance (Millions USD) | Metric | Q3 2025 | Q3 2024 | YoY Change (%) | | :-------------------------- | :------ | :------ | :------------- | | Net interest income | $12,404 | $8,076 | 54% | | Total net revenue | $15,359 | $10,014 | 53% | | Provision for credit losses | $2,714 | $2,482 | 9% | | Non-interest expense | $8,263 | $5,314 | 55% | | Income (loss) from continuing operations, net of tax | $3,193 | $1,777 | 80% | [Other Disclosures and Non-GAAP Reconciliations](index=21&type=section&id=Other%20Disclosures%20and%20Non-GAAP%20Reconciliations) Provides additional disclosures and reconciliations of non-GAAP financial measures to their GAAP equivalents for comprehensive financial analysis [Notes to Net Interest Margin, Loan, Allowance and Business Segment Disclosures (Tables 6—13)](index=21&type=section&id=Table%2014%3A%20Notes%20to%20Net%20Interest%20Margin%2C%20Loan%2C%20Allowance%20and%20Business%20Segment%20Disclosures%20(Tables%206%E2%80%9413)) Provides detailed notes and definitions for net interest margin, loan performance, allowance for credit losses, and business segment results, including Discover acquisition impacts - Average yield is calculated based on annualized interest income for the period divided by average loans during the period[28](index=28&type=chunk) - Charge-offs for Credit Card business exclude **$18.0 billion** of Discover Domestic credit card loans acquired in Q2 2025 that were fully charged-off, with expected recoveries of **$3.1 billion** included as an allowance for credit losses benefit[28](index=28&type=chunk) - Nonperforming loan rates are calculated based on nonperforming loans for each category divided by period-end total loans held for investment for each respective category; Commercial Banking nonperforming loans are criticized nonperforming[28](index=28&type=chunk) - Global Payment Network volume includes Discover Network, PULSE Network, Diners Club International, and Network Partners transactions[28](index=28&type=chunk) - Criticized exposures correspond to "Special Mention," "Substandard," and "Doubtful" asset categories as defined by bank regulatory authorities[28](index=28&type=chunk) - The "Other" segment includes Discover integration expenses of **$348 million** in Q3 2025, **$299 million** in Q2 2025, and **$110 million** in Q1 2025[28](index=28&type=chunk) [Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures](index=22&type=section&id=Table%2015%3A%20Calculation%20of%20Regulatory%20Capital%20Measures%20and%20Reconciliation%20of%20Non-GAAP%20Measures) Provides calculations for regulatory capital measures under Basel III and reconciliations of non-GAAP financial measures to GAAP equivalents, including adjusted EPS and efficiency ratios Q3 2025 Regulatory Capital Ratios (Preliminary) | Metric | Q3 2025 | Q2 2025 | Q3 2024 | | :-------------------------- | :------ | :------ | :------ | | Common equity Tier 1 capital | 14.4% | 14.0% | 13.6% | | Tier 1 capital | 15.5% | 15.1% | 14.9% | | Total capital | 17.4% | 17.1% | 16.6% | | Tier 1 leverage | 12.6% | 14.2% | 11.6% | | TCE | 10.8% | 10.3% | 9.1% | Adjusted Diluted EPS Reconciliation (Q3 2025, Millions USD except EPS) | Item | Q3 2025 | | :------------------------------------------------ | :------ | | Net income (loss) available to common stockholders (GAAP) | $3,086 | | Discover integration expenses | $348 | | Discover intangible amortization expense | $498 | | Discover loan and deposit fair value mark amortization | $105 | | Adjusted net income available to common stockholders (non-GAAP) | $3,801 | | Diluted EPS (GAAP) | $4.83 | | Adjusted diluted EPS (non-GAAP) | $5.95 | Adjusted Efficiency Ratio Reconciliation (Q3 2025) | Item | Q3 2025 | | :------------------------------------------------ | :------ | | Efficiency ratio (GAAP) | 53.80% | | Impact of adjustments (Discover integration, intangible amortization, etc.) | (584)bps | | Adjusted efficiency ratio (non-GAAP) | 47.96% | Tangible Common Equity (Period-End, Millions USD) | Item | Q3 2025 | Q3 2024 | | :-------------------------------- | :------ | :------ | | Stockholders' equity | $113,813 | $62,925 | | Goodwill and other intangible assets | $(41,537) | $(15,214) | | Noncumulative perpetual preferred stock | $(5,407) | $(4,845) | | Tangible common equity | $66,869 | $42,866 | - Non-GAAP measures are used by investors, analysts, and regulators to assess operating performance and capital position, but may not be comparable to other companies' similarly-titled measures[34](index=34&type=chunk)

Core Insights - SoFi has experienced significant growth, with shares increasing by 82% over the past year, indicating strong market performance and potential for future growth [1] - The company currently has a market capitalization of approximately $33 billion, while Capital One's market cap stands at $138 billion, suggesting a substantial gap that SoFi aims to close by the end of the decade [2] - SoFi's member base has more than tripled since 2021, with a record addition of 846,000 members in Q2 2025 and a 44% year-over-year growth in adjusted net revenue, showcasing impressive growth and profitability [3] - Despite its growth, SoFi has not yet fully realized its potential, with opportunities to expand its product offerings and deepen customer relationships [4] Growth Opportunities - SoFi currently lacks several banking products, such as certificates of deposit and auto loans, and has significant potential to develop its credit card business [5] - The company plans to reintroduce cryptocurrency trading by the end of the year, which could enhance its investment platform and attract more users [6] - SoFi's brand awareness remains low, with many Americans unfamiliar with its services, indicating a need for improved marketing and customer engagement strategies [6] Market Positioning - To surpass Capital One's market cap, SoFi would need to quadruple its current valuation, which presents both a challenge and an opportunity given its growth momentum [7] - The company continues to innovate and add unique products to its ecosystem, positioning itself as a competitive player in the financial services industry [7] - While the target of quadrupling its stock price by 2030 is ambitious, SoFi has already seen significant stock price increases since mid-2024, reflecting its growth trajectory [8]

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Core Viewpoint - Capital One Financial Corporation is preparing to release its quarterly earnings on October 21, 2025, with analysts projecting an EPS of $4.23 and revenue of $14.9 billion, indicating a significant year-over-year revenue increase of 48.8% despite a slight decline in EPS from the previous year [1][2][6]. Financial Performance - Analysts expect Capital One to report an EPS of $4.23, reflecting a 6.2% decline from the previous year [2]. - The revenue forecast stands at $14.9 billion, marking a substantial 48.8% year-over-year increase, driven by higher net interest income, loan growth, and stronger fee income [2][6]. - The consensus EPS estimate has been revised downward by 2.2% over the past 30 days, indicating a reassessment by analysts [3]. Valuation Metrics - Capital One has a price-to-sales ratio of approximately 2.35, and an enterprise value to sales ratio of about 2.24, reflecting its valuation relative to revenue [4][6]. - The enterprise value to operating cash flow ratio is around 6.55, indicating cash flow efficiency [4]. - The company's debt-to-equity ratio stands at approximately 0.47, suggesting a moderate level of debt compared to equity [5]. - The current ratio is about 0.14, indicating the company's ability to cover short-term liabilities with short-term assets [5].

Core Insights - A Reddit user, previously with a perfect credit score, is now facing over $177,000 in debt and considering bankruptcy [1][5] Financial Situation - The individual has $118 in total cash and over $160,000 in credit card debt across multiple banks including Bank of America, Barclays, American Express, Capital One, JPMorgan Chase, and U.S. Bancorp [2] - Additionally, there is a personal loan of nearly $17,000 from SoFi with a 12.66% interest rate [2] Employment and Income - The individual was previously employed at a major tech firm with an annual income of approximately $175,000 but is now unemployed and reliant on disability income [4] Community Response - The Reddit community has strongly advised the individual to file for Chapter 7 bankruptcy, with many suggesting it is the best course of action [5] - Concerns were raised about the implications of continuing to use credit cards prior to filing for bankruptcy, as it could affect the bankruptcy case [5] Future Considerations - Commenters urged the individual to think about post-bankruptcy life and the potential consequences of damaging relationships with major banks [6]

Market Overview - The week began with strong earnings from major banks but ended with regional lenders writing off bad loans, leading to investor concerns about market stability [1] - Rising U.S.-China tensions and credit quality issues are impacting market sentiment, alongside the ongoing federal government shutdown which could dampen consumer and business confidence [1] Earnings Season Insights - The fall earnings season is gaining momentum, with five Club names and approximately 80 S&P 500 companies set to report results this week [1] - Danaher is projected to earn $1.72 per share on revenues of $6.01 billion, with a focus on its China business and bioprocessing orders [1] - Capital One is expected to report EPS of $4.37 on $15.08 billion in revenue, with management likely to address consumer spending and credit-loss provisions [1] - GE Vernova anticipates earnings of $1.62 per share on sales of $9.16 billion, with attention on margins and AI data center deals [1] - Honeywell is expected to report revenues of $10.15 billion and EPS of $2.57, with a focus on its Aerospace segment and upcoming spin-off of its Solstice business [1] - Dover is projected to report EPS of $2.51 on revenues of $2.11 billion, with bookings being a key metric for future growth [1][2] Economic Data and Government Shutdown - The government shutdown has resulted in a lack of official economic data, with the September jobs report still pending [2] - The Bureau of Labor Statistics is expected to release the September existing home sales report, which will provide insights into the housing market amid inflationary pressures [2] - Home Depot is relying on increased housing activity to drive sales, highlighting the importance of housing market trends [2]

Core Insights - The article discusses the impact of the government shutdown on federal workers, particularly focusing on the financial strain caused by credit card debt during this period of uncertainty [1][2] - It highlights the availability of credit card hardship programs as a potential solution for those struggling to make payments due to financial difficulties [3][4] Group 1: Credit Card Hardship Programs - Credit card hardship programs are designed to assist customers facing difficulties in making payments, offering various solutions from short-term to long-term plans [3][4] - Many credit card issuers, including American Express, Bank of America, Capital One, Chase, Citi, Discover, U.S. Bank, and Wells Fargo, provide these programs to help customers manage their debt during financial hardships [9][10][12][14][15][19] - The assistance provided can vary based on individual circumstances, such as whether the hardship is temporary or long-term, and may include lower interest rates, waived fees, or extended payment deadlines [5][6][9][19] Group 2: Importance of Early Communication - It is emphasized that reaching out to credit card issuers as early as possible can lead to better outcomes in terms of payment assistance and avoiding additional fees [7][19] - Issuers encourage customers to contact them proactively when they anticipate difficulties in making payments, which can facilitate the development of a suitable payment plan [12][15][19] Group 3: Alternatives to Hardship Programs - The article outlines alternatives to credit card hardship programs, such as balance transfer credit cards, personal loans, and credit counseling, which can provide additional financial relief [24][33][36] - It also suggests reducing other expenses as a strategy to manage debt more effectively during financial challenges [38][39]

Core Viewpoint - Capital One Financial Corp (NYSE:COF) is experiencing a decline in stock price amid a broader sell-off in the financial services sector, driven by concerns over credit quality and a shift towards safer assets like gold [1][2][4]. Group 1: Stock Performance - Capital One shares closed down 5.49% at $203.15, trading within a 52-week range of $143.22 to $232.45 [6]. - The stock is currently trading 7.4% below its 50-day moving average of $218.76, indicating bearish sentiment in the short term [6]. Group 2: Market Environment - The financial services sector is under pressure as traders rotate out of riskier assets, with gold reaching a record high of $4,270 per ounce [2]. - Concerns over credit quality are intensifying, particularly after Zions Bancorp announced a provision of approximately $60 million for potential losses from defaulted loans, raising investor anxiety about loan portfolios across the industry [3][4]. Group 3: Investor Sentiment - Despite the decline, Capital One maintains a strong Momentum score of 77.13 according to Benzinga Edge rankings, suggesting potential for recovery [5].

Core Insights - The article discusses the heightened focus on cybersecurity awareness among banks and credit unions during October, emphasizing the importance of educating consumers and businesses about financial threats [1][2]. Group 1: Cybersecurity Awareness Campaigns - Many financial institutions implement thematic weekly communications to educate customers on cybersecurity, with some banks adopting a consistent message throughout the month [2]. - First Federal Community Bank of Bucyrus utilizes a "weekly game plan" focusing on five themes: strong authentication, spotting scams, device and network safety, protecting kids and seniors, and a Halloween special [3]. - The bank provides weekly one-pagers with advice, reinforcing foundational "cyber hygiene" principles such as avoiding public Wi-Fi [3]. Group 2: Password Security Evolution - The consensus on strong password requirements has shifted from complex character strings to longer, memorable passphrases, which are now recommended by many banks [5][7]. - Passphrases consist of multiple random words, making them easier to remember and harder to crack compared to traditional passwords [9]. Group 3: Managing Customer Expectations - Banks communicate clearly what information they will never request from customers to combat impersonation scams, using direct language to set expectations [10]. - Institutions like Capital One and Eastern Bank explicitly state they will not ask for sensitive information over the phone or via email [10]. Group 4: Identifying Scams and Fraud - Financial institutions educate customers about various scams, including check fraud and the risks associated with immediate digital payments like wire transfers and Zelle [12][13]. - Banks highlight different forms of impersonation attacks, collectively referred to as the "-ishing" family, which includes phishing, vishing, smishing, and quishing [13][14].