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SCHW-PD

The Charles Schwab Corporation

SCHW-PD

The Charles Schwab Corporation • NYSE
$24.96 ▼ -0.36% (-0.09)
Market Cap $170.78 B
52w High $25.63
52w Low $24.25
Dividend Yield 1.49%
P/E 9.01
Volume 41.70K
Outstanding Shares 6.84B

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 Q2-2024Q3-2024Q4-2024Q3-2025
Advisor Services
Advisor Services
 $1.04Bn ▲$1.06Bn ▲$2.48Bn ▲$1.25Bn ▼
Investor Services
Investor Services
 $3.65Bn ▲$3.79Bn ▲$11.77Bn ▲$4.88Bn ▼

Five-Year Company Overview

Income Statement

Income Statement Schwab’s income statement shows a business that has grown meaningfully over the past five years while staying nicely profitable. Revenue has climbed steadily as the firm added more client assets and benefited from a higher interest-rate backdrop. Profitability peaked a few years ago, then dipped as the interest-rate shock and funding costs rippled through the model, but earnings remain solid and have begun to improve again. Overall, the earnings profile looks resilient, though clearly sensitive to interest-rate cycles and market conditions rather than on a smooth, linear path.

Balance Sheet

Balance Sheet The balance sheet has been in a period of adjustment. Total assets have come down from prior peaks as Schwab has repositioned its balance sheet after the industry’s rate and liquidity stresses, while cash levels look broadly stable relative to the size of the firm. Debt is notably higher than a few years ago, which adds some financial leverage, but equity has also rebuilt after dipping, giving the company a reasonable capital base. In simple terms, Schwab still appears well-capitalized, but its funding mix and interest-rate exposure are more important to watch now than in the past.

Cash Flow

Cash Flow Cash flow is choppy, which is common for a broker–bank hybrid like Schwab, where client deposits and trading activity can swing from year to year. There was an exceptionally strong operating cash flow year recently, surrounded by more moderate years, showing how changes in client cash and interest rates can temporarily boost or compress reported cash generation. Free cash flow is generally positive, and the business does not require heavy investment in physical assets, which helps. The key message is that Schwab’s underlying model is cash generative over time, but headline cash-flow figures can be noisy in the short term.

Competitive Edge

Competitive Edge Schwab holds a very strong competitive position built on scale, a trusted brand, and low costs. Its huge base of client assets allows it to spread costs thinly and keep pricing aggressive, which in turn attracts even more clients in a self-reinforcing cycle. The integration of TD Ameritrade has deepened its reach with active traders, while its long-standing advisor custody business anchors relationships with independent advisors. Combined with broad product choice and heavy emphasis on investor education, Schwab’s moat rests on being a “one-stop shop” that is hard and expensive for rivals to replicate, even as it still faces pressure from big banks, fintechs, and other discount brokers.

Innovation and R&D

Innovation and R&D Innovation at Schwab is less about lab-style R&D and more about continuously upgrading its technology and client experience. The firm has a long history of disrupting the industry with discount brokerage, zero-commission trading, and early online platforms, and it continues that pattern with robo-advice, personalized indexing, and integrated banking and investing tools. Recent efforts lean heavily into digital lending, AI-assisted service tools, richer trading platforms via the Ameritrade acquisition, and more personalized portfolio solutions. This steady, client-focused technology investment strengthens its moat and helps it keep pace with both fintech upstarts and large incumbents.

Summary

Overall, Schwab looks like a large, diversified financial platform with durable strengths and some clear sensitivities. The core business has grown well and remains profitable, supported by scale, a sticky client base, and a broad menu of services. At the same time, earnings and cash flows are visibly affected by interest-rate shifts, client cash behavior, and broader market conditions, and the firm now carries more balance-sheet leverage than earlier in the decade. Its strategy leans heavily on technology, personalization, and the full use of the TD Ameritrade deal to drive the next leg of growth. For observers, the main things to monitor are interest-rate and funding dynamics, client asset growth, and the continued payoff from Schwab’s digital and integration initiatives.