Filing Flows › Capital One Financial (COF) › Q3 2025
Capital One Financial (COF) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
Capital One Financial (COF) reported revenue of $15.4B for the third quarter 2025 (Q3 2025), +53% from a year earlier and +23% from the quarter before. Operating margin was 28.5%, net earnings $3.2B (20.8% of revenue).
Capital One Financial, Q3 2025: revenue $15.4B (+53% year over year), operating margin 28.5%, net earnings $3.2B, operating cash flow $9.2B. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.4B | +23% | +53% |
| Operating profit | $4.4B | — | +98% |
| Net earnings | $3.2B | — | +80% |
| Operating cash flow | $9.2B | +51% | +42% |
| Free cash flow | $8.8B | +55% | +43% |
What changed
Revenue was $15.4B in Q3 2025, up 53% year over year and up 23% from the previous quarter.
Operating profit was $4.4B, a 28.5% margin (up 6.4 points year over year). Of the extra revenue versus a year earlier, 40% reached operating profit, above the 22% margin then. Total costs grew 41% against revenue growth of 53%. Net earnings were $3.2B, up 80% year over year. The effective tax rate was 27.1%.
Operating cash flow was $9.2B (up 42% year over year), 287% of net earnings. Non-cash charges added back $1.8B of depreciation and amortization and $0.17B of share-based compensation. Working capital and other items added $4.0B. Capital expenditures of $0.39B left free cash flow of $8.8B.
Questions
What was Capital One Financial's revenue in the third quarter 2025?
Capital One Financial (COF) reported revenue of $15.4B for the third quarter 2025 (Q3 2025), +53% from a year earlier and +23% from the quarter before.
Was Capital One Financial profitable in the third quarter 2025?
Operating profit was $4.4B (28.5% of revenue) and net earnings $3.2B.