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SCHW

The Charles Schwab Corporation

SCHW

The Charles Schwab Corporation • NYSE
$92.69 ▲ 0.97% (+0.90)
Market Cap $168.61 B
52w High $99.59
52w Low $65.88
Dividend Yield 1.08%
P/E 21.71
Volume 6.71M
Outstanding Shares 1.82B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $7.041B ▲ $3.114B ▲ $2.358B ▲ 33.49% ▲ $1.26 ▲ $3.36B ▲
Q2-2025 $6.816B ▲ $3.048B ▼ $2.126B ▲ 31.191% ▲ $1.09 ▲ $3.146B ▲
Q1-2025 $6.65B ▼ $3.144B ▲ $1.909B ▲ 28.707% ▲ $0.99 ▲ $2.802B ▲
Q4-2024 $6.651B ▲ $3.024B ▲ $1.84B ▲ 27.665% ▲ $0.94 ▲ $2.659B ▲
Q3-2024 $6.553B $3.005B $1.408B 21.486% $0.71 $2.203B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $92.569B ▼ $465.255B ▲ $415.871B ▲ $49.384B ▼
Q2-2025 $99.582B ▼ $458.936B ▼ $409.485B ▼ $49.451B ▼
Q1-2025 $109.466B ▼ $462.903B ▼ $413.392B ▼ $49.511B ▲
Q4-2024 $124.699B ▲ $479.843B ▲ $431.468B ▲ $48.375B ▲
Q3-2024 $124.68B $466.055B $418.84B $47.215B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $2.358B ▲ $538M ▼ $6.143B ▼ $-7.385B ▲ $-704M ▲ $393M ▼
Q2-2025 $2.126B ▲ $3.177B ▼ $9.076B ▼ $-18.665B ▲ $-6.412B ▼ $3.049B ▼
Q1-2025 $1.909B ▲ $6.359B ▲ $10.47B ▲ $-20.362B ▼ $-3.533B ▼ $6.242B ▲
Q4-2024 $1.84B ▲ $-10.827B ▼ $7.734B ▼ $1.604B ▲ $-1.489B ▼ $-11.081B ▼
Q3-2024 $1.408B $19.098B $8.516B $-7.726B $19.888B $18.97B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Advisor Services
Advisor Services
 $1.06Bn ▲$880.00M ▼$1.15Bn ▲$1.22Bn ▲
Investor Services
Investor Services
 $3.79Bn ▲$4.45Bn ▲$4.45Bn ▲$4.63Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Schwab’s revenue has grown strongly over the last several years, showing that the overall franchise is still attracting client activity and assets. Profitability, however, has been more up and down: earnings were very strong in 2022, dipped in 2023 as margins compressed, and then recovered somewhat in 2024 but not back to the prior peak. This pattern fits a business that is sensitive to interest rates and trading volumes—when conditions are favorable, profits ramp up quickly, but they can also pull back as funding costs rise or client activity cools. Overall, the income statement reflects a healthy, scalable business with good earnings power but noticeable exposure to the interest-rate cycle.

Balance Sheet

Balance Sheet The balance sheet is large and complex, as you’d expect from a major brokerage and bank, and total assets have actually come down from their peak a few years ago. Debt increased meaningfully over time and was then trimmed back recently, suggesting Schwab has been managing its funding mix and responding to changing rate and liquidity conditions. Equity has recovered from a weaker patch but remains below earlier highs, indicating that prior market moves and balance-sheet adjustments have left a mark. In simple terms, Schwab still has a substantial capital base, but leverage and interest-rate management remain important watchpoints.

Cash Flow

Cash Flow Cash flow has been very volatile, swinging between modest and very strong years, which is typical for a firm whose cash position is heavily influenced by client deposits and securities flows. Underneath that volatility, the core business does not require heavy spending on physical assets, and capital expenditures have stayed relatively modest. Free cash flow tends to be healthy over time, but any single year can look unusual because of shifts in client cash, collateral, and balance-sheet repositioning. Investors usually focus less on one-year cash swings here and more on multi‑year patterns and balance-sheet resilience.

Competitive Edge

Competitive Edge Schwab holds a leading position in retail brokerage and advisor custody, reinforced by enormous scale, a broad product lineup, and a well-known, generally trusted brand. The TD Ameritrade acquisition deepened this moat by adding active traders, advanced trading platforms, and a larger advisor footprint, while also removing a major competitor. Its low-cost, “one-stop shop” model—combining brokerage, banking, asset management, and services for independent advisors—helps keep clients within the Schwab ecosystem. Key competitive risks include ongoing fee pressure, new fintech entrants, and the need to keep technology and service quality at or above peers as client expectations rise.

Innovation and R&D

Innovation and R&D Schwab’s innovation focus is more about platforms and digital experiences than traditional lab-style R&D. It has steadily expanded its digital tools, including advanced trading systems from TD Ameritrade (like thinkorswim), automated portfolio solutions, and advisor technology such as portfolio rebalancing tools. The firm is leaning into artificial intelligence to streamline service and operations, exemplified by its generative AI-based knowledge assistant and a dedicated internal AI strategy team. It is also exploring newer areas—such as enhanced mobile experiences and potential moves into digital assets—while maintaining a hybrid model that combines strong online tools with a physical branch network. The main execution risk is balancing rapid innovation with platform stability, integration quality, and regulatory requirements.

Summary

Overall, Schwab looks like a mature, scale-driven financial platform with solid long-term revenue growth and earnings that rise and fall with market and rate conditions. Its balance sheet is large and more leveraged than in the past, but recent steps suggest active management of funding and capital. Cash flows are lumpy year to year yet generally supportive of continued technology investment rather than heavy physical build-out. The company’s strength lies in its scale, low-cost positioning, and integrated suite of services for both retail investors and advisors, underpinned by continued digital and AI-driven innovation. Key areas to watch are interest-rate sensitivity, balance-sheet risk management, competitive pressure from both traditional peers and fintechs, and the successful rollout of its next wave of digital and AI initiatives.

NEWS

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