Capital One Financial Corporation · NYSE:COF
Capital One Financial — Q1 2026 Earnings Presentation
17 slides from Capital One Financial's earnings presentation, Apr 21, 2026
Slide 1: First Quarter 2026 Results
First Quarter 2026 Results April 21, 2026
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 2026 Company Highlights
Q1 2026 Company Highlights • Net income of $2.2 billion, or $3.34 per diluted common share ◦ Adjusted net income per diluted common share(1) of $4.42 • Pre-provision earnings(1) increased 8% to $6.8 billion • Net interest margin decreased 39 bps to 7.87% • Provision for credit losses of $4.1 billion
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, 2025 $ 20,066 $ 1,892 $ 1,451 $ 23,409 Charge-offs (4,641) (735) (69) (5,445) Recoveries 1,222 371 5 1,598 Net charge-offs (3,419) (364) (64
Slide 5: Allowance Coverage Ratios by Segment
Allowance Coverage Ratios by Segment Domestic Card Credit Card $20,841 $20,474 $19,727 $20,066 $20,049 $19,596 $19,229 $18,476 $18,811 $18,806 $8,331 $7,560 $12,510 $12,036 $12,510 $12,036 7.96% 8.01% 7.59% 7.62% 7.40% 7.28% 7.18% 7.41% 7.28% 7.17% 03/31/25 03/31/25 + DFS 06/30/25 09/30/25 12/31/25
Slide 6: Liquidity
Liquidity Average Quarterly Total Liquidity Reserves ($M)(1) Liquidity Coverage Ratio 5 14% Q/Q 5 26% Y/Y 164,766 143,946 143,071 143,972 131,084 173% 166% 161% 157% 152% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 Liquidity Coverage Ratio FHLB eligible loans Cash and cash equivalents Investme
Slide 7: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin 6 3% Q/Q NII 5 52% Y/Y NII $12,404 $12,466 $12,145 $9,995 8.36% 8.26% 7.87% $8,013 7.62% 6.93% 1Q25 2Q25 3Q25 4Q25 1Q26 Net Interest Income (NII) ($M) Net Interest Margin First Quarter 2026 Highlights • Net interest margin decreased 39 bps quarter-over-qua
Slide 8: Capital
Capital (Dollars in millions) Amount Ratio Common Equity Tier 1 Capital Ratio Common equity Tier 1 (“CET1”) as of December 31, 2025 $ 73,048 14.3% Q1 2026 Net Income 2,174 43 bps Common & Preferred Stock Dividends(1) (578) (11)bps 14.4% 14.3% 14.4% 14.0% 13.6% Share Repurchases (2,500) (50)bps Adjus
Slide 9: Financial Summary—Business Segment Results
Financial Summary—Business Segment Results Three Months Ended March 31, 2026 Consumer Commercial Credit Card Other Total (Dollars in millions) Banking Banking Net interest income $ 9,236 $ 2,229 $ 581 $ 99 $ 12,145 Non-interest income (loss) 2,153 683 328 (78) 3,086 Total net revenue 11,389 2,912 90
Slide 10: Credit Card
Credit Card 2026 Q1 First Quarter 2026 Highlights 2026 2025 2025 2025 2025 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 • Ending loans held for investment up Earnings: $113.4 billion, or 72%, year-over-year; Net interest income $ 9,236 $ 9,479 $ 5,654 (3)% 63% average loans held for investm
Slide 11: Domestic Card
Domestic Card 2026 Q1 First Quarter 2026 Highlights 2026 2025 2025 2025 2025 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 • Ending loans held for investment up $103.7 Earnings: billion, or 69%, year-over-year; average loans Net interest income $8,618 $8,854 $5,343 (3)% 61% held for investme
Slide 12: Consumer Banking
Consumer Banking 2026 Q1 First Quarter 2026 Highlights 2026 2025 2025 2025 2025 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 • Ending loans held for investment up $8.0 Earnings: billion or 10% year-over-year; average Net interest income $ 2,229 $ 2,296 $ 1,943 (3)% 15% loans held for invest
Slide 13: Commercial Banking
Commercial Banking 2026 Q1 First Quarter 2026 Highlights 2026 2025 2025 2025 2025 (Dollars in millions, except as noted) Q1 Q4 Q1 Q4 Q1 • Ending loans held for investment up $1.1 Earnings: billion, or 1%, quarter-over-quarter and Net interest income $ 581 $ 574 $ 572 1% 2% average loans held for inv
Slide 14: Appendix
Appendix Capital y,
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 The following summarizes our non-GAAP measures. While these non-GAAP measures are widely used by investors, analysts and bank regulatory agencies to assess the operating performance and capital position of financial services companies, they may not be comparable t
Slide 17: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures The following summarizes our non-GAAP measures. While these non-GAAP measures are widely used by investors, analysts and bank regulatory agencies to assess the operating performance and capital position of financial services companies, they may not be comparable t
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