COF vs MA: Capital One Financial and Mastercard compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Mastercard is the larger company, worth $530.2B, about 4.1 times Capital One Financial.
- Capital One Financial grew revenue faster over the last year (+49.8% vs +14.1%).
- On earnings, Mastercard is the cheaper stock (34.7x vs 63.0x).
- Mastercard's price assumes faster free cash flow growth: about 11% a year, against -14% for Capital One Financial (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | COF | MA |
|---|---|---|
| Market cap | $127.8B | $530.2B |
| Share price | $199.26 | $589.14 |
| Revenue (last fiscal year) | $8.1B | $32.8B |
| Free cash flow (last fiscal year) | $26.1B | $17.2B |
| Revenue growth, last year | +49.8% | +14.1% |
| Revenue growth per year, last 5 fiscal years | +14.0% | +14.8% |
| Operating margin | — | 58.3% |
| Net margin | 106.2% | 46.3% |
| Return on equity | 9.2% | 289.7% |
| P/E (trailing) | 63.0x | 34.7x |
| Price / free cash flow | 4.90x | 31.4x |
| EV / EBITDA | 5.62x | 24.7x |
| FCF growth the price implies | -14.3% | 10.7% |
| Dividend yield | 1.4% | 0.53% |
| Debt / equity | 4.92x | 9.28x |
| Fundamental grade | B | C |
| Superinvestors holding it | 23 | 19 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Capital One Financial
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $4.8B | $11.6B | — |
| 2022 | $5.4B | $12.9B | — |
| 2023 | $5.6B | $19.6B | — |
| 2024 | $5.9B | $17.0B | — |
| 2025 | $8.1B | $26.1B | — |
Mastercard
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $18.9B | $9.1B | 53.4% |
| 2022 | $22.2B | $10.8B | 55.2% |
| 2023 | $25.1B | $11.6B | 55.8% |
| 2024 | $28.2B | $14.3B | 55.3% |
| 2025 | $32.8B | $17.2B | 57.6% |
Where the revenue comes from
Capital One Financial · by segments, 2025
Credit Card$39.6B74%
Consumer Banking$10.4B19%
Commercial Banking$3.7B7%
Mastercard · by products, 2025
Payment network$19.5B59%
Value-added services and solutions$13.3B41%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open COF in InvestinglyQuestions
Which is bigger, Capital One Financial or Mastercard?
Mastercard (MA), at $530.2B against $127.8B.
Is COF or MA cheaper?
By trailing P/E, Mastercard (34.7x) is cheaper than Capital One Financial (63.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, COF or MA?
Capital One Financial: revenue grew +49.8% over the last year, against +14.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.