Discover Financial Services (DFS) — Free Cash Flow Generation Index
Discover Financial Services (DFS) has a Free Cash Flow Generation Index of 0.97x as of March 2025. Free cash flow of $2.07 Billion represents 1% of operating cash flow ($2.13 Billion). Explore Discover Financial Services capital reinvestment ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
Discover Financial Services Free Cash Flow Generation Index (2004–2024)
Historical FCF Generation Index trend for Discover Financial Services across 21 annual periods. For the full cash flow conversion analysis, see Discover Financial Services cash flow conversion.
Annual Free Cash Flow Generation for Discover Financial Services (2004–2024)
Year-by-year Free Cash Flow Generation Index for Discover Financial Services. Check cash flow reinvestment rate of Discover Financial Services to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2024 | 0.97x | $8.16 Billion | $8.43 Billion | $268.00 Million | ▲ +0.4% |
| 2023 | 0.96x | $8.26 Billion | $8.56 Billion | $303.00 Million | ▼ -0.2% |
| 2022 | 0.97x | $6.90 Billion | $7.14 Billion | $236.00 Million | ▼ -0.1% |
| 2021 | 0.97x | $5.83 Billion | $6.02 Billion | $194.00 Million | ▲ +1.0% |
| 2020 | 0.96x | $5.93 Billion | $6.20 Billion | $261.00 Million | ▲ +0.4% |
| 2019 | 0.95x | $5.91 Billion | $6.20 Billion | $284.00 Million | ▲ +0.3% |
| 2018 | 0.95x | $4.94 Billion | $5.19 Billion | $254.00 Million | ▼ -0.7% |
| 2017 | 0.96x | $4.99 Billion | $5.21 Billion | $218.00 Million | ▼ -0.1% |
| 2016 | 0.96x | $4.25 Billion | $4.42 Billion | $179.00 Million | ▲ +0.3% |
| 2015 | 0.96x | $3.69 Billion | $3.85 Billion | $168.00 Million | ▼ -0.6% |
| 2014 | 0.96x | $3.68 Billion | $3.83 Billion | $145.00 Million | ▲ +3.0% |
| 2013 | 0.93x | $3.29 Billion | $3.52 Billion | $231.00 Million | ▼ -1.9% |
| 2012 | 0.95x | $2.90 Billion | $3.04 Billion | $144.00 Million | ▼ -1.7% |
| 2011 | 0.97x | $3.50 Billion | $3.61 Billion | $111.56 Million | ▼ -1.7% |
| 2010 | 0.99x | $3.82 Billion | $3.87 Billion | $54.68 Million | ▲ +0.1% |
| 2009 | 0.99x | $3.54 Billion | $3.60 Billion | $53.79 Million | ▲ +0.6% |
| 2008 | 0.98x | $4.41 Billion | $4.50 Billion | $93.53 Million | ▲ +4.0% |
| 2007 | 0.94x | $1.92 Billion | $2.04 Billion | $118.27 Million | ▲ +2.8% |
| 2006 | 0.92x | $1.58 Billion | $1.72 Billion | $144.15 Million | ▼ -2.5% |
| 2005 | 0.94x | $1.54 Billion | $1.64 Billion | $97.96 Million | ▲ +0.2% |
| 2004 | 0.94x | $1.49 Billion | $1.59 Billion | $98.71 Million | — |