Discover Financial Services

10-K & 10-Q Filings

Discover Financial Services is a digital banking and payment services company based in the United States. The company was incorporated in Delaware and is subject to regulation by the Federal Reserve and the Office of the Comptroller of the Currency. Discover provides digital banking products and services and payment services through its subsidiaries. Its Digital Banking segment includes consumer banking and lending products such as credit cards, private student loans, personal loans, home loans, and deposit products. Its Payment Services segment includes PULSE, Diners Club International, and the Network Partners business, which provides payment transaction processing and settlement services on the Discover Global Network. The company's website is www.discover.com, and its ticker symbol is DFS. As of December 31, 2023, Discover had $128.4 billion in loan receivables and $84.0 billion in deposits issued through direct-to-consumer channels and affinity relationships. The company is exploring the sale of its private student loan portfolio. Additionally, Discover announced on February 19, 2024, that it had entered into an agreement to merge with Capital One Financial Corporation.

12 mos ending Nov 30, 201112 mos ending Nov 30, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$3847.24
4524.00
4832.00
5019.00
5170.00
5359.00
5421.00
5719.00
6232.00
4096.00
9299.00
8640.00
7081.00
2030.00
1990.00
5.22%-1.97%Net Interest Income (+)
$4860.59
5372.00
5918.00
6462.00
6682.00
7218.00
8000.00
8754.00
9463.00
9230.00
9517.00
10999.00
13099.00
3132.00
3487.00
8.61%11.33%Interest Expense (-)
$1484.55
1331.00
1146.00
1134.00
1263.00
1398.00
1648.00
2139.00
2530.00
1865.00
1134.00
1865.00
4746.00
945.00
1461.00
10.17%54.60%Non Interest Income (+)
$-1013.35
-848.00
-1086.00
-1443.00
-1512.00
-1859.00
-2579.00
-3035.00
-3231.00
-5134.00
-218.00
-2359.00
-6018.00
-1102.00
-1497.00
-35.84%Selling, General & Administrative (-)
$537.49
603.00
717.00
735.00
745.00
731.00
776.00
857.00
883.00
659.00
810.00
1035.00
1164.00
241.00
250.00
6.65%3.73%Marketing Expenses (-)
$537.49
603.00
717.00
735.00
745.00
731.00
776.00
857.00
883.00
659.00
810.00
1035.00
1164.00
241.00
250.00
6.65%3.73%Non-recurring Operating Expenses (-)
$
Operating Expenses (-)
$2541.17
3052.00
3194.00
3340.00
3615.00
3584.00
3781.00
4077.00
4393.00
4519.00
4805.00
5236.00
6016.00
1383.00
2309.00
7.45%66.96%Operating Income/Loss (+)
$1306.07
1472.00
1638.00
1679.00
1555.00
1775.00
1640.00
1642.00
1839.00
-423.00
4494.00
3404.00
1065.00
647.00
-319.00
-1.69%-149.30%Provision for Loan Loss (-)
$1013.35
848.00
1086.00
1443.00
1512.00
1859.00
2579.00
3035.00
3231.00
5134.00
218.00
2359.00
6018.00
1102.00
1497.00
16.00%35.84%Non-operating Income/Expense (+)
$-3.62
26.00
5.00
4.00
9.00
3.00
80.00
Earnings before Tax (+)
$3511.24
3753.00
3944.00
3694.00
3612.00
3656.00
3537.00
3597.00
3835.00
1435.00
7064.00
5742.00
3826.00
1268.00
404.00
0.72%-68.14%Tax Expense (-)
$1284.54
1408.00
1474.00
1371.00
1315.00
1263.00
1438.00
855.00
878.00
294.00
1615.00
1350.00
886.00
292.00
96.00
-3.05%-67.12%Income/Loss (Continuing Operations) (+)
$2226.71
2345.00
2470.00
2323.00
2297.00
2393.00
2099.00
2742.00
2957.00
1141.00
5449.00
4392.00
2940.00
976.00
308.00
2.34%-68.44%Net Income/Loss (+)
$2226.71
2345.00
2470.00
2323.00
2297.00
2393.00
2099.00
2742.00
2957.00
1141.00
5449.00
4392.00
2940.00
976.00
308.00
2.34%-68.44%Net Income/Loss (Common) (+)
$2226.71
2345.00
2470.00
2323.00
2297.00
2393.00
2099.00
2742.00
2957.00
1104.00
5351.00
4304.00
2859.00
939.00
274.00
2.10%-70.82%EPS (Basic)
$4.06
4.47
4.97
4.91
5.14
5.77
5.43
7.81
9.09
3.60
17.85
15.52
11.27
3.58
1.10
8.88%-69.27%EPS (Diluted)
$4.06
4.46
4.96
4.90
5.13
5.77
5.42
7.79
9.08
3.60
17.83
15.50
11.26
3.58
1.10
8.87%-69.27%Weighted Avg Shares (Basic)
529.98
497.50
470.90
447.24
414.20
385.53
354.76
328.39
308.34
306.69
284.90
261.93
250.56
253.95
250.60
-6.05%-1.32%Cash
$4135.66
6270.00
6736.00
7390.00
9671.00
12009.00
13387.00
15145.00
6964.00
13589.00
11332.00
8897.00
11728.00
10163.00
14443.00
9.07%42.11%Short-term Investments
$
2200.00
Securities & Long-term Investments
$55131.74
59292.00
64123.00
68223.00
70516.00
75087.00
81627.00
87471.00
92511.00
82223.00
86862.00
104746.00
119126.00
104983.00
117297.00
6.63%11.73%Property, Plant & Equipment (Net)
$483.25
534.00
654.00
670.00
693.00
734.00
825.00
936.00
1057.00
1027.00
983.00
1003.00
1091.00
1031.00
1107.00
7.02%7.37%Goodwill & Intangibles
$443.44
476.00
469.00
433.00
423.00
421.00
418.00
416.00
410.00
350.00
255.00
255.00
255.00
255.00
255.00
-4.51%0.00%Other Assets
$8589.85
8711.00
7358.00
6410.00
5633.00
4057.00
3830.00
5585.00
13054.00
13500.00
10810.00
16727.00
19322.00
16629.00
19587.00
6.99%17.79%Assets (Total)
$68783.94
75283.00
79340.00
83126.00
86936.00
92308.00
100087.00
109553.00
113996.00
112889.00
110242.00
131628.00
151522.00
133061.00
152689.00
6.80%14.75%Deposits
$39577.46
42155.00
44959.00
46089.00
47594.00
51992.00
58764.00
67759.00
72746.00
76904.00
72393.00
91636.00
108931.00
95740.00
110430.00
8.80%15.34%Accounts Payable
$2627.09
3337.00
2958.00
3246.00
3343.00
3550.00
4105.00
3436.00
3690.00
3860.00
4214.00
5294.00
6432.00
4843.00
7064.00
7.75%45.86%Debt (Current)
$
140.00
113.00
Securities (Liabilities)
$50.00
284.00
1750.00
750.00
25.32%Debt (Non-current)
$18287.18
19729.00
20614.00
22657.00
24724.00
25443.00
26326.00
27228.00
25701.00
21241.00
18477.00
30367.00
32324.00
18163.00
31408.00
4.86%72.92%Other Liabilities
$
Liabilities (Total)
$60541.73
65505.00
68531.00
71992.00
75661.00
80985.00
89195.00
98423.00
102137.00
102005.00
96834.00
117038.00
136694.00
118746.00
137969.00
7.02%16.19%Treasury Stock
$462.68
1678.00
2986.00
4550.00
6265.00
8173.00
10254.00
12319.00
14087.00
14435.00
16695.00
19054.00
21010.00
20297.00
21038.00
37.43%3.65%Retained Earnings
$5243.32
7373.00
9611.00
11467.00
13250.00
15130.00
16687.00
18906.00
21290.00
19955.00
24766.00
28453.00
30448.00
29292.00
30511.00
15.79%4.16%AOCI
$-51.68
-75.00
-68.00
-138.00
-160.00
-161.00
-152.00
-156.00
-119.00
45.00
-94.00
-339.00
-225.00
-235.00
-393.00
-67.23%Shareholder's Equity
$8242.21
9778.00
10809.00
11134.00
11275.00
11323.00
10892.00
11130.00
11859.00
10884.00
13408.00
14590.00
14828.00
14315.00
14720.00
5.02%2.83%Liabilities & Equity
$68783.94
75283.00
79340.00
83126.00
86936.00
92308.00
100087.00
109553.00
113996.00
112889.00
110242.00
131628.00
151522.00
133061.00
152689.00
6.80%14.75%Net Income/Loss
$2226.71
2345.00
2470.00
2323.00
2297.00
2393.00
2099.00
2742.00
2957.00
1141.00
5449.00
4392.00
2940.00
976.00
308.00
2.34%-68.44%Depreciation & Amortization
$20.07
267.00
334.00
369.00
391.00
351.00
393.00
435.00
436.00
485.00
531.00
561.00
458.00
129.00
96.00
29.77%-25.58%Increase/Decrease in Working Capital
$-327.66
-14.00
166.00
33.00
-120.00
-47.00
-120.00
556.00
-7.00
-254.00
86.00
-234.00
-81.00
254.00
-219.00
-186.22%Share-based Compensation
$43.78
47.00
59.00
60.00
Adjustments to Reconcile Net Income
$1382.91
696.00
1047.00
1503.00
1557.00
2032.00
3109.00
2449.00
3239.00
5055.00
570.00
2748.00
5623.00
815.00
1535.00
12.40%88.34%Net Cash (Operating)
$3609.61
3041.00
3517.00
3826.00
3854.00
4425.00
5208.00
5191.00
6196.00
6196.00
6019.00
7140.00
8563.00
1791.00
1843.00
7.46%2.90%Capital Expenditure
$134.71
143.00
231.00
145.00
165.00
179.00
218.00
254.00
284.00
2457.00
-2006.00
227.00
303.00
76.00
71.00
6.99%-6.58%Net Cash (Investing)
$-8121.55
-5693.00
-3163.00
-4197.00
-2868.00
-4894.00
-8777.00
-10579.00
-15274.00
1514.00
40.00
-25637.00
-21491.00
-1229.00
358.00
129.13%Increase/Decrease in Debt
$2784.77
4858.00
5307.00
3127.00
3527.00
5226.00
7576.00
9757.00
3231.00
-664.00
-5429.00
19114.00
18437.00
2108.00
733.00
17.06%-65.23%Increase/Decrease in Equity
$-412.15
-630.00
-1283.00
-1559.00
-1710.00
-1901.00
-2088.00
-2059.00
-1761.00
155.00
-2251.00
-2349.00
-1926.00
-1229.00
-25.00
97.97%Interest Expenses
$1342.43
1203.00
975.00
933.00
1070.00
1211.00
1396.00
1847.00
2407.00
1799.00
1077.00
1666.00
4508.00
10.62%Dividends Paid
$109.57
209.00
399.00
467.00
515.00
514.00
527.00
552.00
573.00
576.00
636.00
703.00
752.00
175.00
194.00
17.41%10.86%Net Cash (Financing)
$2263.05
3728.00
3616.00
1101.00
1302.00
2811.00
4961.00
7146.00
897.00
-1085.00
-8316.00
16062.00
15759.00
704.00
514.00
17.55%-26.99%Cash Taxes Paid
$906.11
1301.00
1348.00
1388.00
1341.00
1300.00
1424.00
650.00
1088.00
901.00
1305.00
1865.00
1605.00
4.88%Increase/Decrease in Cash
$-2248.89
1076.00
3970.00
730.00
2288.00
2342.00
1392.00
1758.00
-8181.00
6625.00
-2257.00
-2435.00
2831.00
1266.00
2715.00
114.45%Cash (Beginning)
$5098.73
2850.00
2584.00
6554.00
7284.00
9572.00
11914.00
13387.00
15145.00
6964.00
13589.00
11332.00
8897.00
8897.00
11728.00
4.75%31.82%Cash (Ending)
$2849.84
3926.00
6554.00
7284.00
9572.00
11914.00
13306.00
15145.00
6964.00
13589.00
11332.00
8897.00
11728.00
10163.00
14443.00
12.51%42.11%NOPAT
$969.03
961.72
1078.16
1048.13
977.69
1143.85
979.73
1345.28
1317.27
-157.41
3663.78
2298.38
618.23
498.01
-243.20
-3.68%-148.83%Operating Margin %
33.95%
32.54%
33.90%
33.45%
30.08%
33.12%
30.25%
28.71%
29.51%
-10.33%
48.33%
39.40%
15.04%
31.87%
-16.03%
NOPAT Margin %
25.19%
21.26%
22.31%
20.88%
18.91%
21.34%
18.07%
23.52%
21.14%
-3.84%
39.40%
26.60%
8.73%
24.53%
-12.22%
Net Margin %
57.88%
51.83%
51.12%
46.28%
44.43%
44.65%
38.72%
47.95%
47.45%
27.86%
58.60%
50.83%
41.52%
48.08%
15.48%
Tax Rate %
25.81%
34.67%
34.18%
37.57%
37.13%
35.56%
40.26%
18.07%
28.37%
62.79%
18.47%
32.48%
41.95%
23.03%
23.76%
ROA
1.41%
1.28%
1.36%
1.26%
1.12%
1.24%
0.98%
1.23%
1.16%
-0.14%
3.32%
1.75%
0.41%
0.37%
-0.16%
ROE
11.76%
9.84%
9.97%
9.41%
8.67%
10.10%
8.99%
12.09%
11.11%
-1.45%
27.33%
15.75%
4.17%
3.48%
-1.65%
Equity Multiplier
8.35
7.70
7.34
7.47
7.71
8.15
9.19
9.84
9.61
10.37
8.22
9.02
10.22
9.30
10.37
Debt/Equity Ratio
7.02
6.33
6.08
6.18
6.41
6.84
7.81
8.53
8.30
9.02
6.78
8.36
9.53
7.96
9.64
Dividend Payout Ratio %
11.31%
21.73%
37.01%
44.56%
52.68%
44.94%
53.79%
41.03%
43.50%
365.93%
17.36%
30.59%
121.64%
35.14%
79.77%
Total Payout
$521.72
839.00
1682.00
2026.00
2225.00
2415.00
2615.00
2611.00
2334.00
421.00
2887.00
3052.00
2678.00
1404.00
219.00
14.60%-84.40%Payout Ratio %
53.84%
87.24%
156.01%
193.30%
227.58%
211.13%
266.91%
194.09%
177.18%
267.46%
78.80%
132.79%
433.17%
281.92%
90.05%