Analyst Consensus ?
ConsensusHold35 ratings
Bullish1542.9%
Neutral1542.8%
Bearish514.3%
Capital One Financial Corporation · COF-PN · FY2026 Q1 · Calendar Q2 2026
Capital One: Discover momentum and Brex integration shape Q1 outlook
Capital One's Q1 analysis supports a constructive operating trajectory: Discover is contributing growth, consumer credit was described as resilient, and Brex expands the business-payments platform. The key test is whether integration benefits and growth can offset higher investment, efficiency pressure, NIM sensitivity, and regulatory uncertainty.
Reported Session unavailableNYSEFinancial Services
$115.63B market cap
85quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$4.42
Consensus $4.50
EPS surprise
-1.8%
Reported versus consensus
Reported revenue
$15.23B
Consensus $15.35B
Revenue surprise
-0.7%
Reported versus consensus
Market reaction
unavailable
Stock move
—
Event window
SPY move
—
Same window
Abnormal move
—
Stock minus SPY
Volume
—
Versus trailing sessions
Subsequent drift
—
Up to 20 sessions
Price and volume data were unavailable at publication time.
Ask FN2 about COF-PN FY2026 Q1
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How did the market react to COF-PN FY2026 Q1 earnings, and why?What changed in COF-PN's guidance and outlook in FY2026 Q1?Give me the bull and bear case for COF-PN after FY2026 Q1 earnings.
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Transcript intelligence
What changed
Brex closed shortly after quarter-end, Capital One completed the conversion of debit customers to the Discover Network, and the company launched a new travel app. The supplied analysis also identifies planned Discover and Brex integration milestones and continued AI investment.
Guidance delta
Maintained; no change was identified in the supplied analysis.
Key takeaways
- Q1 earnings were $2.2 billion, or $3.34 per diluted share; adjusted EPS was $4.42 after integration items.
- Discover purchase volume grew 40% year over year, or 8% excluding Discover.
- Management cited resilient consumer credit and continued Discover integration progress.
- Brex integration, AI and data investment, and a new travel app add execution priorities.
- Analysts focused on efficiency, net interest margin, capital, and synergy timing.
Management priorities
- Complete Discover card-origination migration by Q3 2026 and back-book conversion in Q1 2027.
- Scale Brex integration with marketing and data-pipeline investment.
- Continue AI, cloud, and data-infrastructure build-out.
- Expand Discover network acceptance and travel-related revenue.
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Try FN2 freeEarnings History
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Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| JP Morgan | Overweight | Overweight | Maintain | Oct 16, 2023 |
| Citigroup | Buy | Buy | Maintain | Oct 5, 2023 |
| Morgan Stanley | Underweight | Underweight | Maintain | Oct 2, 2023 |
| Wells Fargo | Overweight | Overweight | Maintain | Jul 20, 2023 |
| Stephens & Co. | Underweight | Underweight | Maintain | Jul 20, 2023 |
| Piper Sandler | Neutral | Neutral | Maintain | Jul 20, 2023 |
| Jefferies | Hold | Hold | Maintain | Jul 10, 2023 |
| B of A Securities | Neutral | Neutral | Maintain | Jun 5, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Apr 27, 2023 |
| BMO Capital | Outperform | Outperform | Maintain | Apr 27, 2023 |
| Barclays | Equal Weight | Equal Weight | Maintain | Apr 11, 2023 |
| Odeon Capital | Sell | Hold | Downgrade | Mar 1, 2023 |
| Deutsche Bank | Buy | Buy | Maintain | Jul 21, 2022 |
| Oppenheimer | Perform | Outperform | Downgrade | Jul 11, 2022 |
| Baird | Outperform | Neutral | Upgrade | Jun 16, 2022 |
| Wolfe Research | Underperform | Peer Perform | Downgrade | May 11, 2022 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 22, 2021 |
| UBS | Buy | Neutral | Upgrade | Jun 21, 2020 |
| Nomura | Buy | Buy | Maintain | Apr 23, 2020 |
| Nomura Instinet | Neutral | Buy | Downgrade | Feb 20, 2018 |
| Buckingham Research | Buy | Buy | Maintain | Jan 23, 2018 |
| Compass Point | Buy | Neutral | Upgrade | Dec 21, 2017 |
| Wedbush | Neutral | Underperform | Upgrade | Oct 24, 2017 |
| Goldman Sachs | Buy | Neutral | Upgrade | Feb 16, 2017 |
| Stifel | Hold | Buy | Downgrade | Nov 13, 2016 |
| CLSA | Buy | Buy | Maintain | Sep 22, 2016 |
| Rafferty Capital | Hold | Buy | Downgrade | Jul 24, 2016 |
| Sterne Agee | Underperform | Neutral | Downgrade | Jun 7, 2016 |
| Guggenheim | Neutral | Sell | Upgrade | May 8, 2016 |
| Bernstein | Outperform | Outperform | Maintain | May 5, 2015 |
| FBR Capital | Market Perform | Outperform | Downgrade | Apr 23, 2015 |
| Susquehanna | Neutral | Positive | Downgrade | Jan 16, 2014 |
| Janney Montgomery Scott | Neutral | Buy | Downgrade | Jan 17, 2013 |
| Rochdale Securities | Buy | Hold | Upgrade | Oct 21, 2012 |
| Argus Research | Hold | Sell | Upgrade | May 7, 2012 |
Track every rating change on COF-PN the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationCapital One Financial Corporation functions as a holding company for its banking subsidiaries, Capital One Bank (USA), National Association, and Capital One, National Association. These entities deliver a wide array of financial products and services to customers across the United States, Canada, and the United Kingdom. The organization structures its operations into three primary divisions: Credit Card, Consumer Banking, and Commercial Banking. It collects deposits through various account types, including checking, money market, negotiable order of withdrawal (NOW), savings, and time deposits.…
Historical context
All COF-PN earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| KEY-PK KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp posts strong Q3 as deposits and loan demand support growth |
| KEY-PL KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp posts strong Q3 as deposits and commercial demand rise |
| KEY-PJ KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp reports record revenue as deposits and commercial lending strengthen |
| KEY-PI KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | — | KeyCorp posts record Q3 as deposits and commercial lending accelerate |
| KEY KeyCorp | FY2026 Q3 · Calendar Q4 2026 | +10.5% | +4.5% | KeyCorp Q3 revenue tops $2 billion as deposits and utilization strengthen |
| ALLY Ally Financial Inc. | FY2026 Q3 · Calendar Q4 2026 | +1.5% | +1.0% | Ally reports strong Q3 growth while monitoring credit quality |
Latest beats and misses
Who reports nextBeat on EPS
- HALFY2026 Q3 · October 20, 2026+2.7% EPS+1.8% move
- RTXFY2026 Q3 · October 20, 2026+27.0% EPS+0.6% move
- MMMFY2026 Q3 · October 20, 2026+5.0% EPS+5.8% move
- GPCFY2026 Q3 · October 20, 2026+1.5% EPS-5.1% move
- KEY-PKFY2026 Q3 · October 20, 2026+10.5% EPS— move
- KEY-PLFY2026 Q3 · October 20, 2026+10.5% EPS— move
Missed on EPS
- AGNCZFY2026 Q3 · October 19, 2026-0.6% EPS+0.3% move
- AGNCLFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
- AGNCOFY2026 Q3 · October 19, 2026-0.6% EPS+0.3% move
- AGNCPFY2026 Q3 · October 19, 2026-0.6% EPS0.0% move
- AGNCMFY2026 Q3 · October 19, 2026-0.6% EPS-0.3% move
- STLDFY2026 Q3 · October 19, 2026-4.0% EPS-0.3% move
Get the COF-PN recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-21. For educational purposes only; not investment advice.