Discover Financial Services (DFS) — Cash Flow Quality Index
Discover Financial Services (DFS) has a Cash Flow Quality Index of 1.93x as of March 2025. Operating cash flow of $2.13 Billion exceeds net income of $1.10 Billion, indicating high earnings quality where cash backs reported profits. Explore Discover Financial Services debt service capacity to assess how comfortably operating cash covers total debt obligations.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Discover Financial Services Cash Flow Quality Index (2004–2024)
Historical Cash Flow Quality Index for Discover Financial Services across 21 annual periods. Values consistently above 1.0x indicate high-quality earnings. For the full cash flow conversion analysis, see DFS operating cash flow.
Annual Cash Flow Quality Index for Discover Financial Services (2004–2024)
Year-by-year earnings quality comparison for Discover Financial Services.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2024 | 1.86x | $8.43 Billion | $4.54 Billion | ▼ -36.6% |
| 2023 | 2.93x | $8.56 Billion | $2.92 Billion | ▲ +80.3% |
| 2022 | 1.63x | $7.14 Billion | $4.39 Billion | ▲ +47.2% |
| 2021 | 1.10x | $6.02 Billion | $5.45 Billion | ▼ -79.7% |
| 2020 | 5.43x | $6.20 Billion | $1.14 Billion | ▲ +159.2% |
| 2019 | 2.10x | $6.20 Billion | $2.96 Billion | ▲ +10.7% |
| 2018 | 1.89x | $5.19 Billion | $2.74 Billion | ▼ -23.7% |
| 2017 | 2.48x | $5.21 Billion | $2.10 Billion | ▲ +34.2% |
| 2016 | 1.85x | $4.42 Billion | $2.39 Billion | ▲ +10.2% |
| 2015 | 1.68x | $3.85 Billion | $2.30 Billion | ▲ +1.9% |
| 2014 | 1.65x | $3.83 Billion | $2.32 Billion | ▲ +15.7% |
| 2013 | 1.42x | $3.52 Billion | $2.47 Billion | ▲ +9.8% |
| 2012 | 1.30x | $3.04 Billion | $2.35 Billion | ▼ -20.0% |
| 2011 | 1.62x | $3.61 Billion | $2.23 Billion | ▼ -68.0% |
| 2010 | 5.06x | $3.87 Billion | $764.79 Million | ▲ +79.6% |
| 2009 | 2.82x | $3.60 Billion | $1.28 Billion | ▼ -41.9% |
| 2008 | 4.85x | $4.50 Billion | $927.75 Million | ▲ +40.2% |
| 2007 | 3.46x | $2.04 Billion | $588.63 Million | ▲ +116.6% |
| 2006 | 1.60x | $1.72 Billion | $1.08 Billion | ▼ -43.5% |
| 2005 | 2.83x | $1.64 Billion | $577.91 Million | ▲ +38.4% |
| 2004 | 2.05x | $1.59 Billion | $776.25 Million | — |