Capital One Financial Corporation · NYSE:COF
Capital One Financial — Q1 2025 Earnings Presentation
16 slides from Capital One Financial's earnings presentation, Apr 22, 2025
Slide 1: First Quarter 2025 Results
First Quarter 2025 Results April 22, 2025 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in Capital One’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Please note that
Slide 3: Q1 2025 Company Highlights
Q1 2025 Company Highlights • Net income of $1.4 billion, or $3.45 per diluted common share ◦ Adjusted net income per diluted common share(1) of $4.06 • Pre-provision earnings(1) substantially flat at $4.1 billion • Provision for credit losses of $2.4 billion • Efficiency ratio of 59.02% ◦ Adjusted e
Slide 4: Allowance for Credit Losses
Allowance for Credit Losses Credit Consumer Commercial Total Card Banking Banking (Dollars in millions) Allowance for credit losses: Balance as of December 31, 2024 $ 12,974 $ 1,884 $ 1,400 $ 16,258 Charge-offs (2,978) (676) (38) (3,692) Recoveries 579 363 14 956 Net charge-offs (2,399) (313) (24) (
Slide 5: Allowance Coverage Ratios by Segment
Allowance Coverage Ratios by Segment Allowance for credit losses ($M) Branded Card 8.6% Allowance Coverage Ratio Credit Card Domestic Card $13,040 $12,560 $12,494 $12,494 $12,989 $12,974 $12,036 $12,510 $11,298 $11,754 $8,098 $7,673 8.47% 8.29% 7.98% 7.96% 8.54% 8.36% 8.03% 8.01% 7.81% 7.85% 6.31% 6
Slide 6: Liquidity
Liquidity Total Liquidity Reserves ($M)(1) Average Quarterly Liquidity Coverage Ratio ("LCR") 5 6% Q/Q 5 3% Y/Y 131,622 131,084 127,481 122,914 123,826 164% 163% 155% 155% 152% 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 Liquidity coverage ratio FHLB eligible loans Cash and cash equivalents In
Slide 7: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin 6 1% Q/Q 5 7% Y/Y $8,076 $8,098 $8,013 $7,488 $7,546 7.11% 7.03% 6.93% 6.69% 6.70% (1) (1) (1) (1) 1Q24 2Q24 3Q24 4Q24 1Q25 Net Interest Income (NII) ($M) Net Interest Margin First Quarter 2025 Highlights • Net interest margin decreased 10 basis points qua
Slide 8: Capital
Capital Amount Ratio Common Equity Tier 1 Capital Ratio (Dollars in millions) Common equity Tier 1 (“CET1”) as of December 31, $ 50,807 13.5% 2024 Q1 2025 Net income 1,404 37 bps 13.6% 13.5% 13.6% CECL Transition Provision(1) (599) (16)bps 13.1% 13.2% Common & Preferred Stock Dividends(2) (293) (8)b
Slide 9: Financial Summary—Business Segment Results
Financial Summary—Business Segment Results Three Months Ended March 31, 2025 Consumer Commercial (Dollars in millions) Credit Card Banking Banking Other Total Net interest income (loss) $ 5,654 $ 1,943 $ 572 $ (156) $ 8,013 Non-interest income (loss) 1,511 183 312 (19) 1,987 Total net revenue (loss)
Slide 10: Credit Card
Credit Card 2025 Q1 First Quarter 2025 Highlights 2025 2024 2024 2024 2024 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 • Ending loans held for investment up Earnings: $6.6 billion, or 4%, year-over-year; Net interest income $ 5,654 $ 5,779 $ 5,272 (2)% 7% average loans held for investment
Slide 11: Domestic Card
Domestic Card 2025 Q1 First Quarter 2025 Highlights 2025 2024 2024 2024 2024 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 • Ending loans held for investment up Earnings: $6.4 billion, or 4%, year-over-year; Net interest income $5,343 $5,474 $4,972 (2)% 7% average loans held for investment u
Slide 12: Consumer Banking
Consumer Banking 2025 Q1 First Quarter 2025 Highlights 2025 2024 2024 2024 2024 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 Earnings: • Ending loans held for investment up $3.8 billion or 5% year-over-year; average Net interest income $ 1,943 $ 1,959 $ 2,011 (1)% (3)% loans held for invest
Slide 13: Commercial Banking
Commercial Banking 2025 Q1 First Quarter 2025 Highlights 2025 2024 2024 2024 2024 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 Earnings: • Ending loans held for investment and average loans held for investment were flat Net interest income $ 572 $ 587 $ 599 (3)% (5)% quarter-over-quarter No
Slide 14: Appendix
Appendix
Slide 15: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures The following non-GAAP measures consist of our adjusted results that we believe help investors and users of our financial information understand the effect of adjusting items on our selected reported results, however, they may not be comparable to similarly-titled
Slide 16: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures 2025 2024 2024 2024 2024 (Dollars in millions) Q1 Q4 Q3 Q2 Q1 Adjusted operating efficiency ratio: Operating expense (GAAP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 4,700
Capital One Financial — Q1 2025 Earnings Presentation on 6ix