Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over 2021–2024 Discover’s balance sheet expanded materially through 2023 and then contracted slightly in 2024. Total assets rose from $110.2B in 2021 to $151.5B in 2023 (≈+37.6%) before edging down to $147.6B in 2024 (−2.6%). Liabilities followed the same pattern but grew a bit faster through 2023 — from $96.8B to $136.7B (+41.2%) — then fell to $129.7B in 2024 (−5.2%). The result was a period of higher leverage into 2023 and modest deleveraging in 2024. Stockholders’ equity moved more gradually: $13.4B (2021) → $14.6B (2022) → $14.8B (2023) and then a notable increase to $17.9B in 2024. As a share of assets equity fell from ~12.2% (2021) to ~9.8% (2023), then recovered to ~12.1% in 2024, signalling improved capitalization last year. The 2023 rise in liabilities relative to assets could reflect growth in loan/receivable volumes and corresponding funding needs during the post‑pandemic/interest‑rate repricing period; the 2024 contraction and equity boost suggest either active balance‑sheet management (run‑offs, tightening underwriting, or capital actions) or one‑time capital gains/retained earnings. Note the 2025 row contains zeros, so no commentary is possible for that year.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.