Discover Financial Services (NYSE: DFS)
Credit Services · Riverwoods, IL, United States · Founded 1985
- Market capitalization: $35.0 billion
- Annual revenue: $2.8 billion
- Net income: $4.54 billion
- Employees: 20,000
- Sector: Financial Services
- Headquarters: Riverwoods, United States
- Founded: 1985
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Discover Financial Services operates the Discover card network, one of only four major payment networks in the US alongside Visa, Mastercard, and American Express. Unlike Visa and Mastercard, Discover is both a network and a lender—it issues cards directly to consumers and carries the credit risk on its balance sheet. The company also operates the PULSE debit network and Diners Club International. Capital One announced its acquisition of Discover in 2024 for $35.3 billion.
Discover earns revenue from net interest income on its credit card loan portfolio, payment network fees from merchants, and student loan interest. The integrated model—owning both the network and the lending relationship—captures more economics per transaction than pure network operators.
Discover was originally launched by Sears in 1985 as a no-annual-fee credit card, a revolutionary concept at the time. The company was spun off from Morgan Stanley in 2007. Capital One's proposed acquisition in 2024 would combine two of the largest US card issuers and give Capital One access to Discover's payment network.
| Market Capitalization | $35.0B |
| Annual Revenue | $2.8B |
| Net Income | $4.54B |
| Profit Margin | 162% |
| Revenue per Employee | $140000K |
| Stock Exchange | NYSE |
| Ticker Symbol | DFS |
Financial data is approximate and based on most recent annual filings.
Discover's payment network is accepted at 99% of places that take credit cards in the US, despite being significantly smaller than Visa and Mastercard. The company pioneered the cashback rewards concept that is now standard across the credit card industry.
The Capital One acquisition makes strategic sense—combining Capital One's scale with Discover's network creates a vertically integrated payments giant. For Discover shareholders, the premium validates years of the stock trading at a discount to its intrinsic value.
What is Discover Financial Services's revenue?
Discover Financial Services generates approximately $2.8 billion in annual revenue.
How many employees does Discover Financial Services have?
Discover Financial Services employs approximately 20,000 people worldwide.
What is Discover Financial Services's market cap?
Discover Financial Services (DFS) has a market capitalization of approximately $35.0 billion on the NYSE.
When was Discover Financial Services founded?
Discover Financial Services was founded in 1985 and is headquartered in Riverwoods, IL, United States.
Who is the CEO of Discover Financial Services?
Michael Rhodes is the current CEO of Discover Financial Services.
What is Discover Financial Services's website?
Discover Financial Services's official website is discover.com.
| CEO | Michael Rhodes |
| Sector | Financial Services |
| Industry | Credit Services |
| Founded | 1985 |
| HQ | Riverwoods, IL |
| Country | United States |
| Website | discover.com |
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