Discover Financial Services

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  • uploads///Valuations
    Earnings Report

    AXP’s Valuations Down in 4Q15, Targeted $1 Billion in Savings

    American Express (AXP) expects its full-year 2016 EPS to be between $5.40–$5.70. It looks to return to positive EPS growth in 2016 and is targeting a minimum of $5.60 EPS for 2017.

    By Robert Karr
  • uploads///Histogram
    Macroeconomic Analysis

    What New Developments Can You Expect from the Fed?

    Potential new developments from the Fed include a suggestion by the subcommittee on communications that median values of policymakers’ projections be published.

    By David Ashworth
  • uploads///Operating expenses
    Earnings Report

    Mergers and Marketing Efforts Pressure MasterCard’s Margins

    MasterCard’s rebates and incentives rose by 18% to $1.0 billion in 1Q16—higher than expected, mainly due to the timing of some deals and acquisitions.

    By Robert Karr
  • uploads///rel val
    Financials

    A Look at Capital One’s Valuations

    Capital One Financial Corporation’s (COF) PE (price-to-earnings) ratio is 8.77x on an NTM basis compared to its competitors’ average PE ratio of 20.79x.

    By Raymond Anderson
  • uploads///alliancedata
    Fund Managers

    Blue Harbour Opens New Position in Alliance Data Systems

    Blue Harbour initiated a new position in Alliance Data Systems (ADS) in 4Q14. It bought 1,153,390 shares worth $43 million. ADS accounts for 1.41% of the fund’s portfolio.

    By Patricia Garner
  • uploads///Operating expenses
    Earnings Report

    Visa Expected to Post Healthy Margins in Fiscal 3Q16

    Visa (V) has maintained its operating margin above 60% over the past few years. The company’s major expenses include personnel, marketing, network and processing, and professional fees.

    By Robert Karr
  • uploads///Analysts Diversified financial services
    Company & Industry Overviews

    Why Analysts Are Bullish on Diversified Financial Services Stocks

    286 analysts cover the 15 stocks in the diversified financial services subgroup of the Financial Select Sector SPDR ETF (XLF).

    By Rebecca Keats
  • uploads///Processed
    Macroeconomic Analysis

    Increased Spending, Electronic Payments Beneficial for Visa

    Visa’s total transactions grew by 11% on a YoY (year-over-year) basis in fiscal 4Q15. The company reported total transactions of 27.9 billion in fiscal 4Q15, as compared to 25 billion in fiscal 4Q14.

    By Robert Karr
  • uploads///exp EPS
    Company & Industry Overviews

    What to Expect from Visa in Fiscal Q3 2018

    Visa (V) is expected to post EPS (earnings per share) of $1.11 in the third fiscal quarter (ending in June), boosted by strong business fundamentals.

    By Raymond Anderson
  • uploads///Stock
    Macroeconomic Analysis

    How Payment Processors Are Performing amid Challenges in 2016

    Payment processors are seeing major changes in 2016, including increased competition on pricing and the adoption of new technologies such as wearables.

    By Robert Karr
  • uploads///RoE
    Macroeconomic Analysis

    Which Payment Processor Has the Highest Payouts and Repurchases?

    Payment processors are rewarding their shareholders with 1%–2% dividend yields, largely dependent on operating performance.

    By Robert Karr
  • uploads///Balance sheet
    Company & Industry Overviews

    MasterCard’s Leverage Is Comfortable for Expansion, Acquisitions

    MasterCard (MA) has debt of $3.3 billion with a total balance sheet of $15.9 billion as of March 31, 2016. This compares to $16.2 billion in 4Q15.

    By Robert Karr
  • uploads///rev in Q
    Company & Industry Overviews

    Mastercard Benefited from Certain Regions

    Mastercard benefited from the Latin America region. The region witnessed favorable momentum in consumer confidence and lower unemployment.

    By Raymond Anderson
  • uploads///Consumer finance cos
    Company & Industry Overviews

    Can American Express Distributions Continue to Attract Investors?

    American Express (AXP) has been using its strong balance sheet position to consistently declare dividends to its shareholders.

    By Raymond Anderson
  • uploads///DFS NII
    Financials

    What to Expect from Payment Processing Companies in H2 2018

    In the first quarter, Capital One’s net income totaled $1.3 billion while Discover’s net income reached $666.0 million.

    By Raymond Anderson
  • uploads///american express revenue and income growth
    Company & Industry Overviews

    American Express: Opportunities Abound in a Challenging Market

    Co-branding relationships are an important part of the American Express business model. The costs of renewing and extending these relationships is increasing.

    By Rekha Khandelwal, CFA
  • uploads///analysts
    Company & Industry Overviews

    Discover Financial Services: Assessing Analysts’ Ratings

    Five analysts suggested a “hold,” one recommended a “strong sell,” and nine recommended a “strong buy” on DFS stock.

    By Raymond Anderson
  • uploads///pcf
    Company & Industry Overviews

    Discover Financial: Tax Cuts and Payment Services Division

    Discover Financial’s (DFS) Payment Services segment saw a rise in its pretax income from $107.0 million in 2016 to $145.0 million in 2017.

    By Raymond Anderson
  • uploads///
    Company & Industry Overviews

    Why In-Store Acceptance Is Important to PayPal

    PayPal’s mobile volume increased 51.0% in 1Q17 to contribute 32.0% of its total volume during the quarter.

    By Neha Gupta
  • uploads///operating margin
    Company & Industry Overviews

    What Does Discover Financial Have in Mind for 2018?

    Discover’s 4Q17 operating margin stood at ~49.6% on a TTM (trailing-12-months) basis.

    By Raymond Anderson
  • uploads///EV rev
    Company & Industry Overviews

    Discover Financial’s Cashback Checking Program

    Discover’s enterprise-value-to-revenue ratio is ~4.0.

    By Raymond Anderson
  • uploads///MA
    Company & Industry Overviews

    This Move Could Increase Mastercard’s Transaction Volumes

    On April 9, 2018, Mastercard (MA) made an announcement regarding the integration of its Masterpass service with the My Phillips 66 app.

    By Raymond Anderson
  • uploads///DY
    Company & Industry Overviews

    A Look at Discover’s Direct Banking Segment

    Discover Financial Services’ (DFS) Direct Banking segment generated pretax income of $3.4 billion in 2017.

    By Raymond Anderson
  • uploads///Total shareholder returns
    Earnings Report

    Investors should watch Discover’s stock in the longer term

    Discover Financial’s (DFS) stock price rose from $14.70 at the end of 2009 to $65.50 at the end of 2014. This is an increase of 346%.

    By Rekha Khandelwal, CFA
  • uploads///PS ratio
    Financials

    Bitcoin Participants Saw Duplicate Transactions

    Worldpay (WP) and Visa (V) said Bitcoin participants who have executed transactions on Coinbase through debit or credit card may have come across duplicate transactions.

    By Raymond Anderson
  • uploads///rel val
    Company & Industry Overviews

    A Look at Discover’s Discounted Valuations

    Discover Financial Services (DFS) has a price-to-earnings ratio on an NTM (next-12-months) basis of ~8.9x, which highlights its lower valuations.

    By Raymond Anderson
  • uploads///period end common shares outstanding
    Earnings Report

    Discover Financial Increases Dividends in 1Q15

    During 1Q15, Discover repurchased ~6 million shares of common stock. This resulted in a 1% decline in the common stock outstanding from the previous quarter.

    By Rekha Khandelwal, CFA
  • uploads///sweet ice cream photography  unsplash
    Company & Industry Overviews

    What’s Expected from Discover Financial in 1Q18?

    Wall Street analysts gave a high estimate of $2.02 and a low estimate of $1.65 on Discover’s earnings per share for 1Q18.

    By Raymond Anderson
  • uploads///period end common shares os
    Earnings Report

    Capital One Is Focused on Share Repurchases

    Capital One repurchased 5.4 million shares in 1Q15—representing 1% of the its total outstanding shares. Its strategic priorities for 2015 haven’t changed.

    By Rekha Khandelwal, CFA
  • uploads///ROA
    Earnings Report

    Why Visa Saw Strong Performance in Fiscal 4Q17

    Visa (V) announced its fiscal 2017 results and its fiscal 4Q17 earnings report on October 25. The consumer financial giant reported strong numbers in fiscal 4Q17.

    By Raymond Anderson
  • uploads///q operating expense detail
    Earnings Report

    Discover’s Net Income Declines due to Higher Expenses in 1Q15

    Discover’s operating expenses increased 11% in 1Q15 over the prior year—driven primarily by higher employee compensation, marketing expenses, and legal reserves.

    By Rekha Khandelwal, CFA
  • uploads///analysts
    Company & Industry Overviews

    Analysts’ Views on Visa Stock

    Analysts still love Visa (V) stock, primarily because of its strong outlook.

    By Raymond Anderson
  • uploads///MA and comp
    Company & Industry Overviews

    Will MasterCard’s Distributions Outperform Visa’s?

    MasterCard (MA) has been paying dividends on its outstanding common stock for the past few quarters and is expected to continue this legacy.

    By Raymond Anderson
  • uploads///PayPals Active Customer Accounts
    Earnings Report

    The Future of PayPal: Interpreting 4Q16

    PayPal’s faces competition from almost all angles. But its peer-to-peer payment service, Venmo, has become a source of great hope.

    By Ruchi Gupta
  • uploads///analysts DFS
    Miscellaneous

    Analysts Are Bullish on Diversified Financial Services Stocks

    Of the 285 analysts covering the diversified financial services sub-group, there are 162 “buy,” 15 “sell,” and 108 “hold” ratings on the group.

    By Rebecca Keats
  • uploads///AXPs Relative Valuation
    Earnings Report

    Is American Express a Stock for Value Investors?

    Wall Street analysts have given a price target of $84.84 on Amex stock, which implies a rise of 0.6% from its current price level.

    By Raymond Anderson
  • uploads///Return on shareholder
    Macroeconomic Analysis

    Payment Processors Dividends Are Now Rising on This

    Payment processors are rewarding their shareholders with dividend yields of 1%–2%, depending largely on operating performance.

    By Robert Karr
  • uploads///Mobile payment transaction value
    Earnings Report

    Best Buy Will Support Apple Pay in 2H15

    Apple is reportedly in talks with major banks in Canada, and it partnered with Union Pay in China last year to broaden the reach of Apple Pay.

    By Puneet Sikka
  • uploads///Balance sheet
    Macroeconomic Analysis

    Visa Establishes Partnerships to Expand in China

    Visa announced partnerships with the China Foundation for Development of Financial Education and the China Foundation for Poverty Alleviation.

    By Robert Karr
  • uploads///Visa and comp
    Earnings Report

    Visa Collaborated with PayPal to Expand in Europe

    Visa (V) reported strong net revenues in fiscal 3Q17 on the back of processed transactions, cross-border volumes, and payments volumes.

    By Raymond Anderson
  • uploads///DFS
    Company & Industry Overviews

    Discover Financial Services: Institutional Activity

    Together, the top ten investors in Discover Financial Services (DFS) stock sold 0.4 million shares in the first quarter.

    By Rekha Khandelwal, CFA
  • uploads///visas forward pe
    Earnings Report

    Analyzing Visa’s Valuation after Its Q2 Earnings

    Visa (V) is trading at a forward PE ratio of 27.7x, which is higher than its five-year average PE ratio of 24.5x.

    By Rekha Khandelwal, CFA
  • uploads///analyst recom
    Earnings Report

    Visa: Analysts Are Bullish before Its Earnings

    Visa (V) has seen three upward revisions in its target price in April. On April 10, Cowen increased its target price for Visa from $161 to $177.

    By Rekha Khandelwal, CFA
  • uploads///price froecast
    Earnings Report

    How Visa Stock Might Perform until Its Earnings

    The implied volatility in Visa fell by ~12.5 percentage points from January 2 to 18.73% on April 12. Visa stock has risen ~21% during this period.

    By Rekha Khandelwal, CFA
  • uploads///revolving consumer credit
    Earnings Report

    What Might Drive Visa’s Q2 Earnings Growth?

    According to data released on March 29, consumer spending rose 0.1% in January. Disposable personal income fell 0.2% in January.

    By Rekha Khandelwal, CFA
  • uploads///
    Company & Industry Overviews

    Why Disney Is Spending $25 Million per Year on Staff Education

    The Walt Disney Company is among those large American companies that have launched back-to-school programs for their employees.

    By Ruchi Gupta
  • uploads///Chart  Retail Sales
    Earnings Report

    Improving Economy and Retail Sales to Boost Mastercard’s Q3 Results

    A healthy job market and a steady hike in wages have increased the spending power of consumers.

    By Anirudha Bhagat
  • uploads///credit card _
    Earnings Report

    What Will Drive Mastercard’s Third-Quarter Earnings?

    Mastercard (MA) is scheduled to report its third-quarter results on October 30.

    By Anirudha Bhagat
  • uploads///Chart  Retail Sales
    Earnings Report

    Visa’s Q4 Results to Gain from Improving Economy and Retail Sales

    The US GDP grew 4.2% in the second quarter, which was almost double the 2.2% increase registered in the first quarter.

    By Anirudha Bhagat
  • uploads///code mnml  unsplash
    Earnings Report

    Higher Payment Volumes to Drive Visa’s Q4 2018 Earnings

    Visa (V) plans to report its Q4 2018 earnings on October 24. Analysts expect Visa to report EPS of $1.20, marking YoY growth of 33.3%.

    By Anirudha Bhagat
  • uploads///Chart  US Retail Sales
    Company & Industry Overviews

    Mastercard to Gain from Improving Economy and Rising Retail Sales

    The Consumer Confidence Index increased to 133.4 in August from 127.9 in July—its highest reading since its October 2000 reading of 135.8.

    By Anirudha Bhagat
  • uploads///Chart  Retail Sales
    Company & Industry Overviews

    Improving GDP and Retail Sales Could Boost Visa’s Platform Usage

    Improving GDP growth, a healthy job market, and steady wage growth have increased the disposable income of consumers, thereby giving them greater spending power.

    By Anirudha Bhagat
  • uploads///Feature Image
    Financials

    Visa Sizzles on Strong Digitization Trends and Improving Economy

    Visa stock (V), which was around $78 at the beginning of 2017, now trades close to $143, a jump of over 83%.

    By Anirudha Bhagat
  • uploads///anaklysts
    Company & Industry Overviews

    How Analysts Rate Mastercard

    Analysts’ rating on Mastercard (MA) improved in July compared to June.

    By Raymond Anderson
  • uploads///V ser rev
    Company & Industry Overviews

    Understanding Visa’s Take on Contactless Payments

    Visa (V) has been making efforts to increase the use of contactless payments in the United States after experiencing a positive response.

    By Raymond Anderson
  • uploads///rel val
    Company & Industry Overviews

    Mastercard Has Premium Valuations after Strong Q2 2018 Results

    Mastercard (MA) has a price-to-earnings ratio of 28.04x on an NTM (next-12-month) basis compared to the peer average of 15.95x.

    By Raymond Anderson
  • uploads///ma post
    Company & Industry Overviews

    How Mastercard’s Gross Dollar Volumes and Net Revenues Trended

    In the second quarter, Mastercard (MA) witnessed total gross dollar volumes (or GDV) of $1.5 trillion.

    By Raymond Anderson
  • uploads///dfs post
    Earnings Report

    Discover Financial’s Q2 2018: Total Loans Grew 9% Year-over-Year

    On July 26, Discover Financial Services (DFS) released its earnings report for the second quarter.

    By Raymond Anderson
  • uploads///V pre
    Earnings Report

    Visa’s Payments Volumes Could Fuel Its Growth

    On July 25, Visa (V) is scheduled to report its results for the third fiscal quarter. Analysts expect Visa to post an EPS of $1.09.

    By Raymond Anderson
  • uploads///Ma pre
    Earnings Report

    Mastercard’s Q2 Preview: Spending, Macro Data Could Be Drivers

    Mastercard (MA) is set to release its second-quarter earnings report on July 26. What can we expect?

    By Raymond Anderson
  • uploads///cof post
    Earnings Report

    Capital One’s Net Interest Margin Fell in the Second Quarter

    Capital One Financial (COF) posted second-quarter results on July 19.

    By Raymond Anderson
  • uploads///AXP pre
    Earnings Report

    American Express in Q2: Drivers Could Be Loan Growth, Spending

    On July 18, American Express (AXP) is expected to report its Q2 2018. Analysts expect EPS to be $1.82 compared to $1.86 in the first quarter.

    By Raymond Anderson
  • uploads///COF pre
    Earnings Report

    Capital One’s Q2: Expectations Amid Trade Wars, Improved Economy

    Capital One (COF) is expected to release its Q2 2018 earnings on July 19. Analysts expect EPS of $2.68, a YoY rise of 38.1%.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    What Factors Could Influence Analysts’ Ratings on Discover?

    Growing trade tensions are a primary concern, as they could impact the performances of Discover Financial Services (DFS) and its peers.

    By Raymond Anderson
  • uploads///TR
    Company & Industry Overviews

    What Discover Financial Has in Mind Moving Forward

    Discover Financial Services (DFS) generated net interest income amounting to $2.1 billion in the first quarter.

    By Raymond Anderson
  • uploads///expected rev
    Company & Industry Overviews

    What’s behind Mastercard’s Co-Brand Wins?

    The economic and business environment prevailing in an economy affects the business fundamentals of payment processing giants like Visa (V) and Mastercard (MA).

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    How Analysts View American Express Stock

    In June, eight of the 32 analysts covering the stock have given it a “buy” rating, and two analysts have given it a “strong sell.”

    By Raymond Anderson
  • uploads///cons
    Financials

    What’s Affected Consumer Finance Companies Recently?

    On June 25, the Dow Jones Industrial Average saw strong downward pressure primarily due to escalating US-China trade tensions.

    By Raymond Anderson
  • uploads///axp
    Company & Industry Overviews

    American Express: What the Second Quarter Holds

    The second quarter could be beneficial for American Express (AXP) due to an expected rise in consumer loans and transactions.

    By Raymond Anderson
  • uploads///rel val
    Company & Industry Overviews

    A Look at Visa’s Valuation

    Visa’s (V) NTM (next-12-month) and LTM (last-12-month) price-to-book ratios are 7.6x and 8.9x, respectively.

    By Raymond Anderson
  • uploads///visa
    Company & Industry Overviews

    Assessing Visa’s Growth Drivers

    Visa’s (V) performance is expected to be primarily driven by spending trends, electronic payment adoption, and tapping into areas where many payments are still made in cash.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    Discover Financial Stock: Analysts’ Ratings

    For Discover Financial, nine analysts recommend a “strong buy,” eight recommend a “hold,” and ten recommend a “buy” on the stock.

    By Raymond Anderson
  • uploads///market cap
    Company & Industry Overviews

    Discover’s Payment Services Division: What to Expect

    At the end of the first quarter, Discover Financial’s Payment Services segment saw total volumes of $88.4 billion.

    By Raymond Anderson
  • uploads///Direct bank int
    Company & Industry Overviews

    Discover’s Direct Banking Segment: More Credit Card Loans?

    Discover Financial Services’ (DFS) Direct Banking segment generates most of its interest income from credit card loans.

    By Raymond Anderson
  • uploads///rel val
    Company & Industry Overviews

    A Look at Capital One’s Discounted Valuations

    Capital One’s (COF) price-to-earnings ratio stood at ~9.1x on an NTM basis compared to the average of its peers of ~16.7x.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    What Could Make Analysts Warm Up to American Express Stock?

    American Express is being covered by 33 analysts, 17 of whom have recommended “holds” and two of whom have recommended “strong sells” on the stock.

    By Raymond Anderson
  • uploads///TE
    Company & Industry Overviews

    Understanding the Trend in American Express’s Total Expenses

    American Express (AXP) incurred total expenses amounting to $6.9 billion in the first quarter, implying a rise of 9% on a YoY (year-over-year) basis.

    By Raymond Anderson
  • uploads///GMS
    Company & Industry Overviews

    Assessing Amex’s Global Merchant Services Segment’s Performance

    The Global Merchant Services segment’s total revenue (after deducting interest expenses) amounted to $1.2 billion in the first quarter.

    By Raymond Anderson
  • uploads///ICNS
    Company & Industry Overviews

    A Look at AXP’s International Consumer and Network Services

    American Express’s (AXP) International Consumer and Network Services segment is affected by consumer spending levels.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    This Is Why Analysts Love Visa Stock

    Analysts expect Visa to reach $140.09 in a year, implying a 7.2% rise from the stock’s current price of $130.72.

    By Raymond Anderson
  • uploads///exp
    Company & Industry Overviews

    How Mastercard’s Second Quarter Could Shake Out

    Wall Street analysts have given Mastercard (MA) an average EPS estimate of $1.5 for the second quarter, reflecting a year-over-year rise.

    By Raymond Anderson
  • uploads///rel val
    Company & Industry Overviews

    How Visa’s Valuation Compares

    While Visa’s (V) NTM (next-12-month) price-to-book ratio is 7.4x, competitors’ average is 8.0x.

    By Raymond Anderson
  • uploads///ent value
    Company & Industry Overviews

    Why Visa Sees the US Market as Profitable

    At the J.P. Morgan Global Technology, Media and Communications Conference, Visa (V) stated it would be targeting the US market’s significant untapped opportunities, which could boost growth.

    By Raymond Anderson
  • uploads///MA
    Earnings Report

    Mastercard’s Strong Results Beat Earnings and Revenue Estimates

    Mastercard (MA) released its earnings report this morning. The company reported earnings per share or EPS of $1.50 in 1Q18.

    By Raymond Anderson
  • uploads///comp of gross rev
    Company & Industry Overviews

    A Look at Mastercard’s Net Revenue

    Mastercard (MA) saw positive momentum in its business in 2017 thanks to the adoption of e-commerce.

    By Raymond Anderson
  • uploads///Rel Val
    Company & Industry Overviews

    Why Visa Has Premium Valuations

    Visa’s (V) price-to-book ratio stands at 6.83x on a next-12-month basis, implying a premium valuation compared to its peer average of 3.09x.

    By Raymond Anderson
  • uploads///NOR
    Company & Industry Overviews

    An Analysis of These Components of Visa’s Net Operating Revenue

    Of its total fiscal 1Q18 net operating revenue of $4.9 billion, Visa’s service revenue made up $2.1 billion, or 44.1%.

    By Raymond Anderson
  • uploads///Analysts
    Financials

    How Wall Street Views these Consumer Financial Companies

    In February 2018, Discover Financial Services (DFS) was covered by 25 analysts, of whom nine suggested a “strong buy” and five recommended a “hold” on the stock.

    By Raymond Anderson
  • uploads///DY
    Financials

    Why Mastercard Could Benefit from Wearable Devices

    On February 22, Mastercard (MA) announced through a press release that around a quarter of Europeans support contactless payments through wearable devices like a keyring or smartwatch.

    By Raymond Anderson
  • uploads///EV to Rev
    Financials

    Visa: 2018 Expectations and a Must-Read Recap

    Visa (V) recorded strong fiscal 2017 with the help of positive momentum in cross-border volumes as well as payments volumes.

    By Raymond Anderson
  • uploads///ROIC
    Company & Industry Overviews

    Visa Upgrades Its Terminals in Minneapolis

    Visa (V) announced on February 2 the upgrade of various POS (point-of-sale) terminals for certain businesses in Minneapolis.

    By Raymond Anderson
  • uploads///Consumer Financial image
    Financials

    Visa–Fraedom Acquisition to Benefit Business-to-Business Payments

    Visa (V) announced its acquisition of Fraedom, which provides payment solutions for financial institutions.

    By Raymond Anderson
  • uploads///Rel Val
    Earnings Report

    A Look at Mastercard’s Valuations

    Wall Street analysts have given a one-year price estimate of $191.40 for Mastercard.

    By Raymond Anderson
  • uploads///analysts
    Earnings Report

    Discover Financial Services: What Analysts Are Saying

    Twenty-six analysts are tracking Discover Financial Services (DFS) in January 2018. Six of them have given it a “hold” rating, and one is recommending a “strong sell.”

    By Raymond Anderson
  • uploads///Rel val
    Earnings Report

    Behind Discover Financial Services’ Discounted Valuations

    Discover Financial Services (DFS) has a PE (price-to-earnings) ratio on an NTM (next 12-month) basis of 10.26x, while the average for its peers is 13.97x.

    By Raymond Anderson
  • uploads///market cap
    Earnings Report

    Discover Financial Services’ Direct Banking Segment in 4Q17

    The Direct Banking segment of Discover Financial Services (DFS) generated pre-tax income of $870 million in 4Q17 compared to $868 million in 4Q16, which was a marginal rise.

    By Raymond Anderson
  • uploads///FCF
    Earnings Report

    Why Discover Financial’s Operating Expenses Rose Year-over-Year

    In 4Q17, Discover Financial incurred total operating expenses of $1 billion compared to $897 million in 4Q16, which is a rise of 15%.

    By Raymond Anderson
  • uploads///dividend yield
    Company & Industry Overviews

    Analyzing Visa’s Balance Sheet

    As of September 30, 2017, Visa (V) reported total assets of $67.9 billion compared to $64 billion as of September 30, 2016.

    By Raymond Anderson
  • uploads///net income marign
    Company & Industry Overviews

    A Look at Visa’s Key Growth Factors

    Visa (V) posted a net income margin of ~35.0% in the last 12 months. American Express and Discover reported net income margins of ~13.9% and ~23.8%, respectively, in the same timeframe.

    By Raymond Anderson
  • uploads///rel val
    Earnings Report

    Understanding Mastercard’s Higher Valuations

    Mastercard (MA) has a PB (price-to-book) ratio of 17.24x on a next 12-month (or NTM) basis, which reflects its higher valuations.

    By Raymond Anderson
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