Discontinued — last reported Q4 '25
Total Operating Expenses
Capital One Financial Total Operating Expenses increased by 13.1% to $9.34B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 53.4%, from $6.09B to $9.34B. Over 4 years (FY 2021 to FY 2025), Total Operating Expenses shows an upward trend with a 16.5% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
Lowering this relative to revenue indicates improved operating leverage and efficiency.
Detailed definition
This metric represents the sum of all non-interest expenses incurred to run the business. It is a primary measure of the...
Peer comparison
A key benchmark for all financial institutions to determine the efficiency ratio.
total_operating_expensesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $3.97B | $4.19B | $4.68B | $4.55B | $4.58B | $4.95B | $5.08B | $4.95B | $4.79B | $4.86B | $5.72B | $5.14B | $4.95B | $5.31B | $6.09B | $5.90B | $6.99B | $8.26B | $9.34B |
| QoQ Change | — | +5.5% | +11.8% | -2.7% | +0.7% | +8.0% | +2.6% | -2.7% | -3.1% | +1.4% | +17.6% | -10.1% | -3.7% | +7.4% | +14.6% | -3.1% | +18.5% | +18.2% | +13.1% |
| YoY Change | — | — | — | — | +15.6% | +18.2% | +8.6% | +8.7% | +4.6% | -1.8% | +12.5% | +3.9% | +3.2% | +9.3% | +6.5% | +14.9% | +41.3% | +55.5% | +53.4% |
Business Segments — Credit Card
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Credit Card | $3.13B | $3.37B | $3.85B | $3.64B | $4.45B | $5.41B | $6.15B | $5.50B |
| Consumer Banking | $1.25B | $1.33B | $1.55B | $1.58B | $1.71B | $1.94B | $2.29B | $2.00B |
| Commercial Banking | $483.00M | $495.00M | $518.00M | $486.00M | $489.00M | $520.00M | $504.00M | $498.00M |
| Total | $4.95B | $5.31B | $6.09B | $5.90B | $6.99B | $8.26B | $9.34B | — |
Business Segments — Credit Card
| Segment | Q2 '24 | Q3 '24 | Q1 '25 |
|---|---|---|---|
| Credit Card | $3.13B | $3.37B | $3.64B |
| Consumer Banking | $1.25B | $1.33B | $1.58B |
| Commercial Banking | $483.00M | $495.00M | $486.00M |
| Total | $4.95B | $5.31B | $5.90B |
Commercial Banking, Consumer Banking, Credit Card were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is Capital One Financial's total operating expenses?
- Capital One Financial (COF) reported total operating expenses of $9.34B in Q4 2025.
- How has Capital One Financial's total operating expenses changed year-over-year?
- Capital One Financial's total operating expenses increased by 53.4% year-over-year, from $6.09B to $9.34B.
- What is the long-term trend for Capital One Financial's total operating expenses?
- Over 4 years (2021 to 2025), Capital One Financial's total operating expenses has grown at a 16.5% compound annual growth rate (CAGR), from $16.57B to $30.50B.
- What does total operating expenses mean?
- The total cost of running the business operations.