Short answer
Capital One (COF) filed its fiscal 2025 10-K annual report with the SEC on Feb 19, 2026. It reported revenue of $8.1B (+36.3% year over year) and net income of $2.5B.
- Top risk flagged: Regulatory risk: potential impact from Moody’s, Fitch stable ratings and S&P positive outlook on senior unsecured long-term debt
FY2025 key financial metrics · XBRL
- Revenue
- $8.1B
- +36.3% YoY
- Net income
- $2.5B
- −48.4% YoY
- EPS (diluted)
- $4.03
- −65.2% YoY
- ROE
- 2.2%
- −5.7 pp YoY
- Operating cash flow
- $27.7B
- +52.6% YoY
Source: XBRL data from the Capital One (COF) FY2025 10-K on SEC EDGAR. USD.
Capital One FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: diversified financial services including banking, credit cards, and lending
- No new products, services, or segments introduced or emphasized in FY2026 filing
- No strategic shifts or competitive repositioning highlighted compared to prior year
- Proxy Statement includes detailed disclosures on executive compensation, security ownership, and related transactions with no changes noted
- Most unusual fact: entire Business section content replaced by references to proxy disclosures and policies, lacking typical business operational details
Management Discussion & Analysis
- Combined pro forma revenue: net interest income $48.9B vs $45.5B, non-interest income $11.5B vs $10.9B for 2025 vs 2024
- Pro forma income from continuing operations $10.2B in 2025 vs $1.7B in 2024, reflecting credit loss provisions on acquired loans
- Best performing segment: Credit Card with $279.6B loans outstanding; worst: Commercial Banking with $89.3B loans and higher delinquency
- Integration expenses $1.1B in 2025 vs $234M in 2024, acquisition-related expenses $124M, total transaction cost $51.8B including $13.4B goodwill
- Capital allocation includes Discover Home Loan sale for $8.8B cash, generating $483M gain; no direct dividend or buyback data disclosed
- Management notes uncertainties in fair value estimates, integration costs, and credit loss provisions as key transaction risks and outlook factors
Risk Factors
- Regulatory risk: potential impact from Moody’s, Fitch stable ratings and S&P positive outlook on senior unsecured long-term debt
- Macroeconomic threat: unfunded lending commitments increased to $729.6B in 2025 from $458.1B in 2024, stressing liquidity
- Operational risk: large exposure to credit card and loan commitments in Commercial and Consumer Banking segments
- Financial risk: reliance on capital markets funding with potential increased costs if credit ratings downgrade from current BBB/Baa1/A- levels
Generated from the filing text; verify against the original. How to read a 10-K
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