Discover Financial Services (DFS)

DFS Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest and Dividend Income	19,899	17,845	12,864	10,651	11,095	11,993
Total Interest Expense	5,765	4,746	1,865	1,134	1,865	2,530
Net Interest Income	14,134	13,099	10,999	9,517	9,230	9,463
Commissions and Fees	1,819	1,684	1,552	1,371	1,128	1,263
Gain (Loss) on Sale of Investments	-9	-9	-214	424	80	-3
Other Revenue	551	257	247	231	236	287
Revenue Before Loan Losses	17,331	15,794	13,216	12,007	11,088	11,459
Provision for Loan Losses	5,618	6,018	2,359	218	5,134	3,231
Revenue	11,713	9,776	10,857	11,789	5,954	8,228
Revenue Growth (YoY)	14.10%	-9.96%	-7.91%	98.00%	-27.64%	7.22%
Salaries & Employee Benefits	2,678	2,434	2,139	1,986	1,894	1,738
Cost of Services Provided	3,156	2,902	2,537	2,199	2,029	2,152
Other Operating Expenses	893	672	391	433	441	407
Total Operating Expenses	6,727	6,008	5,067	4,618	4,364	4,297
Operating Income	4,986	3,768	5,790	7,171	1,590	3,931
EBT Excluding Unusual Items	4,986	3,768	5,790	7,171	1,590	3,931
Other Unusual Items	-131	-131	-149	-92	-96	-96
Pretax Income	4,855	3,637	5,641	6,984	1,435	3,835
Income Tax Expense	1,245	841	1,325	1,596	294	878
Net Income	3,610	2,796	4,316	5,388	1,141	2,957
Preferred Dividends & Other Adjustments	84	81	88	99	37	49
Net Income to Common	3,526	2,715	4,228	5,289	1,104	2,908
Net Income Growth	6.27%	-35.22%	-19.90%	372.22%	-61.41%	7.84%
Shares Outstanding (Basic)	251	254	277	300	307	320
Shares Outstanding (Diluted)	251	254	278	300	307	320
Shares Change (YoY)	-3.46%	-8.63%	-7.33%	-2.28%	-4.06%	-7.25%
EPS (Basic)	14.05	10.69	15.26	17.63	3.60	9.09
EPS (Diluted)	14.05	10.69	15.23	17.63	3.60	9.08
EPS Growth	9.90%	-29.82%	-13.61%	390.25%	-60.40%	16.56%
Free Cash Flow	9,048	8,260	6,904	5,825	5,935	5,912
Free Cash Flow Per Share	36.05	32.52	24.83	19.42	19.33	18.48
Dividend Per Share	2.800	2.700	2.300	1.880	1.760	1.680
Dividend Growth	7.69%	17.39%	22.34%	6.82%	4.76%	12.00%
Operating Margin	42.57%	38.54%	53.33%	60.83%	26.70%	47.78%
Profit Margin	30.10%	27.77%	38.94%	44.86%	18.54%	35.34%
Free Cash Flow Margin	77.25%	84.49%	63.59%	49.41%	99.68%	71.85%
Effective Tax Rate	25.64%	23.12%	23.49%	22.85%	20.49%	22.89%

Source: S&P Capital IQ. Financial Services template. Financial Sources.