CAPITAL ONE FINANCIAL CORP Earnings Per Share Disclosure
NOTE 13—EARNINGS PER COMMON SHARE | ||
| Year Ended December 31, | ||||||||||||||||||||
| (Dollars and shares in millions, except per share data) | 2025 | 2024 | 2023 | |||||||||||||||||
| Income from continuing operations, net of tax | $ | 2,088 | $ | 4,747 | $ | 4,887 | ||||||||||||||
Income from discontinued operations, net of tax | 365 | 3 | 0 | |||||||||||||||||
| Net income | 2,453 | 4,750 | 4,887 | |||||||||||||||||
| Dividends and undistributed earnings allocated to participating securities | (26) | (77) | (77) | |||||||||||||||||
| Preferred stock dividends | (252) | (228) | (228) | |||||||||||||||||
| Discount on redeemed preferred stock | 6 | 0 | 0 | |||||||||||||||||
| Net income available to common stockholders | $ | 2,181 | $ | 4,445 | $ | 4,582 | ||||||||||||||
| Total weighted-average basic common shares outstanding | 540.7 | 382.7 | 382.4 | |||||||||||||||||
Effect of dilutive securities:(1) | ||||||||||||||||||||
| Stock options | 0.1 | 0.2 | 0.1 | |||||||||||||||||
| Other contingently issuable shares | 0.5 | 0.7 | 0.9 | |||||||||||||||||
| Total effect of dilutive securities | 0.6 | 0.9 | 1.0 | |||||||||||||||||
| Total weighted-average diluted common shares outstanding | 541.3 | 383.6 | 383.4 | |||||||||||||||||
| Basic earnings per common share: | ||||||||||||||||||||
| Net income from continuing operations | $ | 3.36 | $ | 11.60 | $ | 11.98 | ||||||||||||||
Net income from discontinued operations | 0.67 | 0.01 | 0.00 | |||||||||||||||||
| Net income per basic common share | $ | 4.03 | $ | 11.61 | $ | 11.98 | ||||||||||||||
Diluted earnings per common share:(1) | ||||||||||||||||||||
| Net income from continuing operations | $ | 3.36 | $ | 11.58 | $ | 11.95 | ||||||||||||||
Net income from discontinued operations | 0.67 | 0.01 | 0.00 | |||||||||||||||||
| Net income per diluted common share | $ | 4.03 | $ | 11.59 | $ | 11.95 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 19, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Feb 25, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 20, 2019 | |
| 2017 | Feb 21, 2018 | |
| 2016 | Feb 23, 2017 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.