Capital One Financial Corp

COF: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Capital One Earnings: Higher Spending and Integration Costs Weigh on Earnings

Michael Miller

Jan 23, 2026

Capital One's fourth-quarter earnings came in a bit lower than we had expected as higher spending and credit costs weighed on earnings. Earnings per share came in at $3.26, or $3.86 excluding acquisition-related expenses. On an unadjusted basis, these results translate to a 6.1% return on equity.

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Capital One Financial Corp

Capital One Earnings: Higher Spending and Integration Costs Weigh on Earnings

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