COF Capital One (COF) Q2 FY26 earnings call
Capital One delivered solid Q2 FY26 results, marked by strong credit performance and continued integration of Discover and Brex. Management emphasized the long-term earnings power of the combined entity, despite near-term impacts from the Discover loan 'brownout' and ongoing technology investments. The company continues to lean into marketing and tech spend to capitalize on market opportunities and drive future growth, particularly in its heavy spender franchise and digital-first national bank strategy.
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COF operating KPIs by quarter
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Mar 2026 Q1 FY26 | This call Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|
| Common equity tier 1 ratio (CET1) | 13.6%Our common equity Tier 1 capital ratio ended quarter at 13.6%, approximately 10 basis points higher than the prior quarter.Source: earnings call transcript | 14%Our common equity Tier 1 capital ratio ended the quarter at 14%, approximately 40 basis points higher than the prior quarter.Source: earnings call transcript | 14.4%Our common equity Tier 1 capital ratio ended the quarter at 14.4%, 10 basis points higher than the fourth quarter.Source: earnings call transcript | 13.7%Our common equity Tier 1 capital ratio ended the quarter at 13.7%, 70 basis points lower than the first quarter.Source: earnings call transcript | -0.7 pt |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.