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The city of New Albany is moving forward with its purchase of the former Discover Financial Services property, where it plans ...

NEW YORK -- Capital One announced it's acquiring Discover Financial Services for $35.3 billion in an all-stock deal, giving the bank a leg up in the competitive credit card market.

Discover Financial Services's cash return on invested capital (CROIC) for fiscal years ending December 2019 to 2023 averaged 18.4%. Its TTM CROIC of 21.4% ranks in the 88.8% percentile for the sector.

The financial services company did much better on the bottom line, with a 30% leap in generally accepted accounting principles (GAAP) net income to slightly over $1.1 billion.

Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Analysts forecast that Discover Financial Services will post 13.89 EPS for the current fiscal year.

Shares of Discover Financial Services (NYSE: DFS) fell 10.8% on Thursday after the company announced mixed fourth-quarter 2023 results relative to Wall Street's expectations.

Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. During the same quarter in the prior year, the company earned $1.10 earnings per share.

ByElisabeth Buchwald, CNN Tuesday, February 20, 2024 Capital One is buying Discover Financial for $35.3 billion in an all-stock deal, merging two of the largest credit card companies in the U.S.