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Capital One Financial Corporation

COF Financial Credit Services

Capital One Financial Corporation’s revenue for fiscal 2025 (year ended December 2025) was $69.3 billion, up 28.4% from fiscal 2024.

Revenue
+3.24%
EPS
+16.4%
Free cash flow
−39.3%
Total debt
−3.35%

Quarter to September 2026, against a year earlier

204.91 1.40 −0.68%
Market cap
$122.6B
P/E
12.1×
Fwd P/E
11.7×
Dividend yield
1.56%
F-score
7/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Capital One Financial Corporation (COF) valuation and DCF model

What the price implies · reverse DCF

At $204.91 the price implies 20.6% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 6.5% a year over the last ten years, 22.8% over the last five. The price asks for about three times its ten-year rate. Return on equity averaged 8.6% over ten years; the price implies 9.9% for good.

In December 2017 the price assumed 20.9% a year; Capital One Financial Corporation went on to grow the dividend a share 8.8% a year to FY2025.

Price implies
20.6%
Last 5 years, reported
22.8%
Last 10 years, reported
6.5%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
20.6% a year for ten years
$204.91
today’s price
Its base case
6.5% a year for five years, then 3.9%
$65.48
68.0% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Capital One Financial Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 20.6% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against Capital One Financial Corporation’s own cost of capital: risk-free 4.3% + beta 1.09 × equity premium 4.5% = 9.2% cost of equity; weighted, 9.2%.

Use 9.2%
Base case value per share $65.48 ten years discounted, and what follows
Current price $204.91 market price per share
Below today’s price 68.0% downside at the base case’s assumptions

How we got there$28.52 10 years of dividends+$36.97 terminal value=$65.48 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Credit Services).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 12.09× 25.05× 19.40× 38% below 8.96× 35% above
P/FCF 4.75× 3.84× 3.73× 28% above 2.55× 87% above
P/B 1.14× 1.00× 0.93× 22% above 1.23× 8% below
EV/Sales — 1.63× 2.12× — 3.90× —
P/E P/FCF P/B EV/Sales
1.35×1.97×2.58×3.20×10Y avg 2.12×2016201720182019202020212022202320242025

EV/Sales has no reading today; its 10-year average is 2.12×.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.