NYSE · Financial Services

Capital One Financial Corporation

COF · Credit Services

$201.53

▲ 0.66 (0.33%)

Cached · 10 min

Overall Grade

Defensive

Enterprising

Profitability

B⤢

Net Income Margin 14.3%

Fin. Health

F⤢

Years to Pay Off Debt 23.6 yrs

Valuation

F⤢

Margin of Safety 0.0%

Price-to-Book 1.12x

Cash Flow

B⤢

Free Cash Flow $5.5B

CapEx % of Net Income 25.4%

Owner Earnings $4.2B

Cash Flow

Free Cash Flow $5.5B

Operating cash flow minus capital expenditures. Buffett's most important metric — cash a business actually generates for its owners after maintaining and growing its asset base. Consistently positive FCF is one of the strongest indicators of a durable, well-run business regardless of accounting profits.

CapEx % of Net Income 25.4%

Capital expenditure as a share of net income. Low CapEx signals a capital-light business that doesn't need heavy reinvestment to sustain earnings — Buffett's ideal. High CapEx is structurally necessary in manufacturing, airlines, telecoms, and semiconductors. For these industries, a high reading reflects the business model, not poor management.

Owner Earnings $4.2B

Net Income + Depreciation & Amortisation − Capital Expenditures. Buffett's preferred measure of a company's true annual earning power — what could theoretically be distributed to owners without impairing the business. More reliable than reported EPS because it accounts for the capital cost of maintaining the business.

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

About Capital One Financial Corporation

Capital One Financial Corporation operates as the financial services holding company for the Capital One, National Association, which engages in the provision of various financial products and services in the United States, Canada, and the United Kingdom. It operates through three segments: Credit Card, Consumer Banking, and Commercial Banking. The company accepts checking accounts, money market deposits, negotiable order of withdrawals, savings deposits, time deposits, and sweep accounts. Its loan products include credit card and personal loans; auto and retail banking loans; and commercial and multifamily real estate, and commercial and industrial loans. The company offers credit and debit card products; bank lending; and provides advisory, capital markets, net interchange, treasury management, and depository services. It serves consumers, small businesses, and commercial clients through digital channels, branches, cafés, and other distribution channels located in New York, Louisiana, Texas, Maryland, Virginia, New Jersey, and the District of Columbia. Capital One Financial Corporation was founded in 1988 and is headquartered in McLean, Virginia.

Metric Explanations

What each dimension measures and where the thresholds come from.

Market Data

Market Cap $125.4B

Enterprise Value $106.7B

P/E (TTM) 62.01

Dividend Yield 1.39%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin 14.3%

Company Info

Sector Financial Services

Industry Credit Services

Employees 77100

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering Capital One Financial Corporation at $201.53.

The business passes only 3 of 6 of Graham's defensive criteria — well below his required standard.

At $201.53, the stock trades at a 73% premium to its Graham Number of $116.43. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

Showing Key Metrics

Income Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Gross Profit %	N/A•	N/A•	N/A
Operating Margin %	N/A•	N/A•	N/A
Net Income %	14.3%▲	13.9%•	N/A
Diluted EPS	3.34▲	3.26•	N/A

Balance Sheet Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Total Assets	$682.9B	$669.0B	N/A
Total Debt	$51.3B▲	$50.4B•	N/A
Working Capital	N/A•	N/A•	N/A
Years to Pay Debt	23.58	23.62	N/A

Cash Flow Highlights

Metric	Q1 2026	Q4 2025	Q4 2024
Free Cash Flow	$5.5B▼	$7.4B•	N/A
Owner Earnings	$4.2B	$4.2B	N/A
CapEx % of Net Income	25.4%	20.8%	N/A

Income Statement

	2026	2025	2024
Tax Effect Of Unusual Items	-79,648	-25,148
Tax Rate For Calcs	0	0
Total Unusual Items	-415,000	-153,000
Total Unusual Items Excluding Goodwill	-415,000	-153,000
Net Income From Continuing Operation Net Minority Interest	2,181,000	1,754,000
Reconciled Depreciation	1,510,000	1,605,000
Net Interest Income	12,145,000	12,466,000
Interest Expense	4,086,000	4,221,000
Interest Income	16,231,000	16,687,000
Normalized Income	2,516,352	1,881,852
Net Income From Continuing And Discontinued Operation	2,174,000	2,134,000
Diluted Average Shares	623,400	631,600
Basic Average Shares	622,500	631,100
Diluted EPS	0	0
Basic EPS	0	0
Diluted NI Availto Com Stockholders	2,081,000	2,064,000
Net Income Common Stockholders	2,081,000	2,064,000
Otherunder Preferred Stock Dividend	20,000	13,000
Preferred Stock Dividends	73,000	57,000
Net Income	2,174,000	2,134,000
Net Income Including Noncontrolling Interests	2,174,000	2,134,000
Net Income Discontinuous Operations	-7,000	380,000
Net Income Continuous Operations	2,181,000	1,754,000
Tax Provision	518,000	345,000
Pretax Income	2,699,000	2,099,000
Special Income Charges	-415,000	-153,000
Other Special Charges	415,000
Restructuring And Mergern Acquisition		153,000
Gain On Sale Of Security		0	0
Depreciation Amortization Depletion Income Statement	492,000	525,000
Depreciation And Amortization In Income Statement	492,000	525,000
Amortization	492,000	525,000
Amortization Of Intangibles Income Statement	492,000	525,000
Selling General And Administration	5,168,000	5,364,000
Selling And Marketing Expense	1,497,000	1,934,000
General And Administrative Expense	3,671,000	3,430,000
Salaries And Wages	3,671,000	3,430,000
Total Revenue	15,231,000	15,393,000
Operating Revenue	15,231,000	15,393,000
Occupancy And Equipment	867,000	958,000
Professional Expense And Contract Services Expense	585,000	693,000
Other Non Interest Expense	937,000	1,459,000

Balance Sheet

	2026	2025	2024
Treasury Shares Number	96,839	83,444
Preferred Shares Number	159,000	159,000
Ordinary Shares Number	615,857	625,102
Share Issued	712,695	708,546
Net Debt			1,730,000
Total Debt	51,262,000	50,413,000
Tangible Book Value	67,672,000	68,529,000
Invested Capital	163,523,000	164,007,000
Net Tangible Assets	67,672,000	68,529,000
Capital Lease Obligations		22,000	29,000
Common Stock Equity	112,261,000	113,616,000
Total Capitalization	163,523,000	163,507,000
Total Equity Gross Minority Interest	112,261,000	113,616,000
Stockholders Equity	112,261,000	113,616,000
Gains Losses Not Affecting Retained Earnings	-5,879,000	-5,468,000
Other Equity Adjustments	-5,879,000	-5,468,000
Treasury Stock	12,939,000	10,146,000
Retained Earnings	66,788,000	65,192,000
Additional Paid In Capital	64,284,000	64,031,000
Capital Stock	7,000	7,000
Common Stock	7,000	7,000
Total Liabilities Net Minority Interest	570,644,000	555,393,000
Long Term Debt And Capital Lease Obligation	51,262,000	49,913,000
Long Term Capital Lease Obligation		22,000	29,000
Long Term Debt	51,262,000	49,891,000
Current Debt And Capital Lease Obligation		500,000	0
Current Debt		500,000	0
Other Current Borrowings		500,000	0
Payables And Accrued Expenses	827,000	844,000
Payables	827,000	844,000
Accounts Payable	827,000	844,000
Total Assets	682,905,000	669,009,000
Investments And Advances	92,314,000	91,051,000
Held To Maturity Securities	1,694,000
Available For Sale Securities	88,402,000	86,777,000
Goodwill And Other Intangible Assets	44,589,000	45,087,000
Other Intangible Assets	16,087,000	16,578,000	233,000
Goodwill	28,502,000	28,509,000
Net PPE	5,730,000	5,602,000
Accumulated Depreciation		-6,601,000	-5,602,000
Gross PPE		12,203,000	10,113,000
Construction In Progress		550,000	426,000
Machinery Furniture Equipment		6,732,000	5,108,000
Buildings And Improvements		4,591,000	4,276,000
Land And Improvements		330,000	303,000
Receivables	3,460,000	3,492,000
Accounts Receivable	3,460,000	3,492,000
Other Short Term Investments	2,218,000	4,274,000
Cash And Cash Equivalents	76,494,000	57,434,000
Cash Financial	4,555,000	3,031,000
Cash Cash Equivalents And Federal Funds Sold	79,256,000	62,093,000

Cash Flow

	2026	2025	2024
Free Cash Flow	5,470,000	7,387,000
Repurchase Of Capital Stock	-2,793,000	-2,520,000
Repayment Of Debt	-2,481,000	-3,452,000
Issuance Of Debt	3,526,000	3,007,000
Issuance Of Capital Stock	119,000	105,000
Capital Expenditure	-553,000	-444,000
Interest Paid Supplemental Data	4,010,000	4,058,000
Income Tax Paid Supplemental Data	184,000	312,000
End Cash Position	79,256,000	62,093,000
Beginning Cash Position	62,093,000	58,527,000
Changes In Cash	17,163,000	3,566,000
Financing Cash Flow	11,114,000	3,544,000
Cash Flow From Continuing Financing Activities	11,114,000	3,544,000
Proceeds From Stock Option Exercised	1,000	8,000
Cash Dividends Paid	-559,000	-581,000
Preferred Stock Dividend Paid	-57,000	-73,000
Common Stock Dividend Paid	-502,000	-508,000
Net Common Stock Issuance	-2,674,000	-2,415,000
Common Stock Payments	-2,793,000	-2,520,000
Common Stock Issuance	119,000	105,000
Net Issuance Payments Of Debt	1,045,000	-445,000
Net Long Term Debt Issuance	1,045,000	-445,000
Long Term Debt Payments	-2,481,000	-3,452,000
Long Term Debt Issuance	3,526,000	3,007,000
Investing Cash Flow	26,000	-7,809,000
Cash Flow From Continuing Investing Activities	26,000	-16,609,000
Net Other Investing Changes	-241,000	-657,000
Net Investment Purchase And Sale	-879,000	-959,000
Sale Of Investment	5,860,000	4,618,000
Purchase Of Investment	-6,739,000	-5,577,000
Net Business Purchase And Sale		0	0
Sale Of Business		0
Net PPE Purchase And Sale	-553,000	-444,000
Purchase Of PPE			-356,000
Operating Cash Flow	6,023,000	7,831,000
Cash From Discontinued Operating Activities		70,000
Cash Flow From Continuing Operating Activities	6,023,000	7,761,000
Change In Working Capital	-2,760,000	742,000
Change In Other Current Liabilities	181,000	730,000
Change In Other Current Assets	-2,956,000	30,000
Change In Payables And Accrued Expense	-17,000	18,000
Change In Payable	-17,000	18,000
Change In Account Payable	-17,000	18,000
Change In Receivables	32,000	-36,000
Changes In Account Receivables	32,000	-36,000
Other Non Cash Items	656,000	-560,000
Stock Based Compensation	131,000	200,000
Deferred Tax	244,000	-503,000
Deferred Income Tax	244,000	-503,000
Depreciation Amortization Depletion	1,510,000	1,605,000
Depreciation And Amortization	1,510,000	1,605,000
Operating Gains Losses		1,000	2,000
Net Income From Continuing Operations	2,174,000	2,134,000

📊 Quarterly mode — Graham Fair Value & 7 Criteria require annual data. Switch to Annual for full analysis.

Quarter vs Same Quarter Last Year

YoY strips seasonality

Revenue Growth (YoY)

Prior year: $10.0B ▲ $15.2B +52.3%

Revenue growth vs same quarter last year strips seasonality. Consistent double-digit growth is a Buffett hallmark.

Net Margin

Prior year: 14.0% ▲ 14.3% +0.2pp

Net margin can be distorted by one-time items, tax timing, or interest costs — compare to operating margin for signal quality.

Quarterly Health Checks

3 Graham/Buffett criteria that are valid and reliable on quarterly data

✅ Adequate Size

Graham required scale for resilience. Quarterly revenue × 4 gives an annualised proxy.

$15.2B/qtr (≈$60.9B ann.)

vs > $1.5B annualised revenue

✅ Free Cash Flow

Buffett's most important single metric. A positive FCF quarter means the business generated real cash for owners after maintaining its asset base.

$5.5B

vs Positive

Operating Cash Flow

$6.0B

Latest quarter · Buffett's cash reality check

ROIC

N/A

Based on latest annual operating income

Market Cap / Net Assets

1.1x

Net Assets: $112.3B

Peers & Industry

No auto-detected peers for Credit Services. You can manually compare COF against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

1.90%

Low — management has little skin in the game

Return on Equity (ROE)

1.9%

Weak — poor returns on equity

Return on Assets (ROA)

0.3%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$4.6B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

+1.7% YoY

Debt is roughly stable

Leadership Team

Richard Fairbank

Founder, Chairman, CEO & President

Age 74

Pay: $6,833,277

0.314% of net income

Andrew Young

Chief Financial Officer

Age 50

Pay: $3,910,891

0.180% of net income

Matthew Cooper

President of Discover Integration, General Counsel & Secretary

Age 53

Pay: $6,579,752

0.303% of net income

Frank LaPrade III,

Chief Enterprise Services Officer & Chief of Staff to the CEO

Age 58

Pay: $4,439,174

0.204% of net income

Mark Daniel Mouadeb

President of Card

Age 41

Pay: $4,499,914

0.207% of net income

Top Institutional Holders

Institution	% Owned	Shares
Blackrock Inc.	8.17%	50,818,226
Vanguard Capital Management LLC	6.51%	40,509,585
State Street Corporation	4.43%	27,553,903
Capital World Investors	2.91%	18,120,639
JPMORGAN CHASE & CO	2.79%	17,355,846
Geode Capital Management, LLC	2.30%	14,293,981
Franklin Resources, Inc.	2.21%	13,728,646
FMR, LLC	2.02%	12,560,478

Risk Analysis

Beta (Market Risk)

1.04

Moderate volatility — moves slightly more than market

Short Interest

1.9% of float

Low short interest — market is not heavily bearish

52-Week Price Range

Low: $174.24 Current: $201.53 High: $259.64

Currently at 32% of 52-week range