How does Capital One Financial (COF) make money?

Capital One Financial (COF) generates revenue primarily from Interchange Fees, Contracts, which accounted for 80.4% of total revenue in TTM through Q2 2026. The company reported $78.6B in revenue and converted 13.4% of it into net profit, equivalent to roughly $10.5B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Capital One Financial (COF)?

Capital One Financial (COF) reported a gross profit margin of 66.2% in TTM through Q2 2026, equivalent to $52B in gross profit on $78.6B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Capital One Financial (COF)?

Capital One Financial (COF) reported an operating profit margin of 21% in TTM through Q2 2026, equivalent to $16.5B in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Capital One Financial (COF)?

Capital One Financial (COF) reported a net profit margin of 13.4% in TTM through Q2 2026, equivalent to $10.5B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Capital One Financial (COF) profitable?

Yes. Capital One Financial (COF) reported $10.5B in net income for TTM through Q2 2026, with a net profit margin of 13.4%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Capital One Financial (COF) spend on capital expenditures?

Capital One Financial (COF) spent $747M on capital expenditures (CapEx) during TTM through Q2 2026, roughly 1.0% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Capital One Financial (COF) generate?

Capital One Financial (COF) generated $32.2B in free cash flow during TTM through Q2 2026, a free-cash-flow margin of 41.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Capital One Financial (COF)?

Capital One Financial (COF) had an effective tax rate of 21.9% in TTM through Q2 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Capital One Financial (COF)?

Capital One Financial (COF) reports revenue across 3 reportable product segments, led by Interchange Fees, Contracts at 80.4% of total revenue in TTM through Q2 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

How Capital One Financial Makes Money: 2026 Visual Revenue Map

Capital One Financial (COF) Income Statement Flow — TTM through Q2 2026

Calculated from the four most recent reported quarters, ending June 30, 2026 (reported July 28, 2026).

Capital One Financial discloses geographic revenue only in annual filings. to view the full breakdown.

Capital One Financial (COF) Revenue by Product Segment — TTM through Q2 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Capital One Financial (COF), TTM through Q2 2026.
Segment	Revenue (USD)	% of total
Interchange Fees, Contracts	$63.2B	80.4%
Service Charges And Other Customer Fees, Contracts	$8.12B	10.3%
Other Contract Revenue	$7.28B	9.3%
Total	$78.6B	100%

Interchange Fees, Contracts$63.2B
Service Charges And Other Customer Fees, Contracts$8.12B
Other Contract Revenue$7.28B
Total$78.6B

Revenue Breakdown — TTM through Q2 2026

In TTM through Q2 2026, Capital One Financial (COF) reports revenue across 3 reportable product segments; the largest segment was Interchange Fees, Contracts at 80.4%, followed by Service Charges And Other Customer Fees, Contracts (10.3%) and Other Contract Revenue (9.3%).

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