Discover
Discover Financial Services
19 quarters tracked through Q4 2025
Q1 2026 · Coverage note
Absorbed into Capital One
Discover Financial Services ceased standalone public reporting after its acquisition by Capital One closed May 18, 2025. Cardintel maintains Discover's historical record through Q1 2025 and reports the combined entity under Capital One going forward.
Discover Financial Services no longer files standalone quarterly results. Its credit-card business is now reported within Capital One.
Capital One completed its acquisition of Discover on May 18, 2025. From Q2 2025 onward, Discover's card receivables, charge-offs, and revenue are consolidated into Capital One's results — there is no separate Discover Q1 2026 to report.
Discover's standalone history through Q1 2025 remains available on Cardintel's trend charts, where it is preserved as a distinct pre-merger series. For current analysis of the combined franchise — including how the absorbed Discover book is performing inside the merged entity — see the Capital One issuer brief.
Cardintel's M&A-continuity methodology constructs a combined pro-forma series for Capital One back to Q1 2021, so peer comparisons spanning the merger have no artificial discontinuity. See the methodology page for detail.
By the editors. Cardintel.
Credit quality
Net charge-off rate
—
Q4 2025, annualized
30+ day delinquency rate
—
Q4 2025
Net interest margin
—
card segment NIM — sparse
Return on assets
—
consolidated, Q1 2025, annualized
Scale & earnings
Card receivables (EOP)
$98.9B
0.0%
end of Q4 2025
Card net revenue
—
Provision for credit losses
—
Net charge-offs ($)
$0.00
Q4 2025
Financial summary
P&L, balance sheet, and key drivers
Standardized issuer-summary format used across all coverage. Switch tabs to compare Discover against a peer; change the table quarter independently of the page anchor.
| Metric | Discover Q1 2026 | Prior Q Q4 2025 | Prior Y Q1 2025 | QoQ | YoY |
|---|---|---|---|---|---|
| Card net revenue | — | — | — | — | — |
| Provision for credit losses | — | — | — | — | — |
| Fee income (non-interest) | — | — | — | — | — |
| Net interest incomeSprint 8 — split out of card net revenue | — | — | — | — | — |
| Noninterest expenseSprint 8 — segment expense extraction | — | — | — | — | — |
| Pretax income | — | — | — | — | — |
| Net income | — | — | — | — | — |
Generated commentary
Discover P&L for Q1 2026 — most line items pending ingestion.
$ in cents (formatted as $B / $M / $). Rows marked “pending” are tracked and will populate as the corresponding ingestion lands. Source: SEC EDGAR 10-K / 10-Q segment data and FFIEC Call Reports.
Net charge-off rate — 5-year history
Net charge-off rate for Discover (solid) vs. the bank peer median (dashed) and 90th percentile (dotted). Use the controls above to overlay individual peers or a macroeconomic series on the right axis. Source: SEC 10-K/10-Q filings and FFIEC Call Reports; macro series via FRED.
Source: SEC EDGAR 10-Q filings + FFIEC Call Reports. Updated June 4, 2026.Methodology