Capital One Financial Corp.
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+ FollowMarket Cap$125.67B
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Earnings Call Q3 2026
October 20, 2026 - AI Summary
Solid Q3 earnings + credit + operating leverage (but EPS boosted by allowance release):
- Q3 2026 net income: $3.5B ($5.61 diluted EPS).
- Adjusting items tied to Discover and Brex; adjusted EPS: $6.69.
- Linked-quarter: revenue +3%, non-interest expense -2% ⇒ pre-provision earnings +10% (adjusted +9%).
- Provision for credit losses: $2.9B, down $73M (-2%); reflects $3.1B net charge-offs and $225M allowance release.
- Important investor takeaway: credit performance is strong, but reported earnings were helped by allowance normalization/release (will affect “quality” of earnings vs run-rate).
Allowance / coverage signals ongoing improvement, especially in domestic cards (but lower coverage vs last quarter):
- Allowance balance: $22.7B after the $225M release.
- Total portfolio coverage: 4.92% (-10 bps sequential).
- Domestic cards: released $250M, driven by favorable observed credit partly offset by more downside economic/geopolitical considerations; coverage 6.86% (-13 bps).
- Consumer banking (auto-driven): built $41M, citing auto growth offset by improved vehicle value outlook; coverage 2.34% (-5 bps).
- Commercial banking: allowance roughly flat (~$1.5B); coverage 1.6% (-2 bps).
Net interest margin jumped meaningfully; funding/liquidity moving but manageable:
- Q3 NIM: 8.41%, up +40 bps QoQ.
- Drivers mentioned: higher domestic card yield, $13B decline in avg cash balances, and an additional day in the quarter.
- Liquidity reserves: ~$134B, down ~$10B QoQ; cash position ~$49B and investment securities MTM down ~ $3B.
- Avg liquidity coverage ratio (preliminary): 163%.
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$604.75
193.2% upside
Current Fair Value
193.2% upsideUndervalued by 193.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $125.67 Billion |
|---|---|
| Enterprise Value | $126.56 Billion |
| Annual dividend | $3.20 |
| Dividend yield | 1.56% |
| Earnings per Share | $4.03 |
| Beta | 1.04 |
| Outstanding Shares | 608,900,000 |
Return
| Return on Equity | 9.91% |
|---|---|
| Return on Assets | 1.61% |
| Return on Invested Capital | 8.76% |
Valuation & Multiples
| P/E Ratio | 12.09 |
|---|---|
| PEG | 0.28 |
| Price to Sales | 1.59 |
| Price to Book Ratio | 1.15 |
| Enterprise Value to Revenue | 1.6 |
| Enterprise Value to EBIT | 7.57 |
| Enterprise Value to Net Income | 11 |
| Total Debt to Enterprise | 0.39 |
| Debt to Equity | 0.45 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 20, 2026
EPS Estimate
$5.53
Consensus analyst estimateRevenue Estimate
$16.25 B
Consensus analyst estimateNext Earnings Call
Expected Date
January 28, 2027
EPS Estimate
$4.86
Consensus analyst estimateRevenue Estimate
$16.60 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 1.00, calls and puts are about even.
| Put/Call Ratio | 1.0000▲ 14.16% |
|---|---|
| Total Calls | 34,100▼ 99.35% |
| Total Puts | 34,100▼ 99.25% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 3.69%▼ 83.58% |
|---|---|
| Total Invested | $4.40B▼ 95.95% |
| Investors Holding | 813▼ 1406.00% |
About Capital One Financial Corp.
51,985 employees
CEO: Richard Fairbank
Capital One Financial Corporation is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $305.4 billion in deposits and $421.6 billion in total assets as of December 31,...