Filing Flows › Capital One Financial (COF) › Q1 2026
Capital One Financial (COF) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Capital One Financial (COF) reported revenue of $15.2B for the first quarter 2026 (Q1 2026), +52% from a year earlier and -2% from the quarter before. Operating margin was 17.7%, net earnings $2.2B (14.3% of revenue).
Capital One Financial, Q1 2026: revenue $15.2B (+52% year over year), operating margin 17.7%, net earnings $2.2B, operating cash flow $6.0B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.2B | -2% | +52% |
| Operating profit | $2.7B | +9% | +56% |
| Net earnings | $2.2B | +2% | +55% |
| Operating cash flow | $6.0B | -23% | +29% |
| Free cash flow | $5.5B | -26% | +27% |
What changed
Revenue was $15.2B in Q1 2026, up 52% year over year and down 2% from the previous quarter.
Operating profit was $2.7B, a 17.7% margin (up 0.4 points year over year). Of the extra revenue versus Q1 2025, 19% reached operating profit, above the 17% margin then. Total costs grew 52% against revenue growth of 52%. Net earnings were $2.2B, up 55% year over year. The effective tax rate was 19.2%.
Operating cash flow was $6.0B (up 29% year over year), 277% of net earnings. Non-cash charges added back $1.5B of depreciation and amortization and $0.13B of share-based compensation. Working capital and other items added $2.2B. Capital expenditures of $0.55B left free cash flow of $5.5B.
Questions
What was Capital One Financial's revenue in the first quarter 2026?
Capital One Financial (COF) reported revenue of $15.2B for the first quarter 2026 (Q1 2026), +52% from a year earlier and -2% from the quarter before.
Was Capital One Financial profitable in the first quarter 2026?
Operating profit was $2.7B (17.7% of revenue) and net earnings $2.2B.