The Charles Schwab Corporation SCHW

FinancialsInvestment Banking & Investment ServicesUnited States of America

Last close 89.28 USD on Nov 3, 2026, −9.8% year to date

Quant rating

Quant rating C Rank 332 of 799 in Financials

Growth B 167 of 799
Valuation C 451 of 799
Quality B 156 of 799
Revisions B 158 of 799
Momentum D 689 of 799

Wall Street consensus Buy (2.04)Average target 116.86 USD +30.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 154.4B
Enterprise value: 406.8B
52-week range: 83.98 – 114.53
3-year range: 53.96 – 114.53
Dividend yield: 1.44%
Beta (5 years): 0.75
Shares outstanding: 1,729M
Next earnings: Jan 19, 2027

About the company

The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services, and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, and banking and trust services to individual investors, and retirement plan and business services, as well as other corporate brokerage services, to businesses and their employees. The Advisor Services segment provides custodial, trading, banking and trust, and support services to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers. Its products and services include brokerage, mutual funds, exchange-traded funds (ETFs), managed investing solutions, alternative investments, banking, and trust.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	27,675	25,999	25,521	22,307	18,996	–
Revenue growth	6.4%	1.9%	14.4%	17.4%	56.9%	18.0%
EPS (basic, normalized)	4.87	3.25	3.13	3.90	3.25	–
EPS growth	49.8%	3.8%	−19.7%	20.0%	–	–
Gross margin	86.4%	75.4%	73.8%	93.1%	97.5%	85.2%
Net margin	30.4%	21.1%	18.2%	29.7%	28.2%	25.5%
ROE	21.0%	14.4%	16.0%	18.0%	12.0%	16.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	36,700
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	51,400
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	27,675	+6.4%	14.7x	24.26	−1.5%	3.7x	4.87	+49.8%	18.3x
2026	28,121	+1.6%	14.5x	27.57	+13.7%	3.2x	6.44	+32.1%	13.9x
2027	31,959	+13.6%	12.7x	31.11	+12.8%	2.9x	7.82	+21.6%	11.4x
2028	34,937	+9.3%	11.6x	34.93	+12.3%	2.6x	9.14	+16.8%	9.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	28,121	−0.4%	−0.4%	+5.2%	6.44	−0.8%	−0.4%	+6.8%
2027	31,959	0.0%	+0.6%	+9.2%	7.82	−0.8%	+0.8%	+11.6%
2028	34,937	+1.3%	+1.9%	+11.1%	9.14	+0.4%	+3.6%	+14.6%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Sales reported (mil)	4,690	4,847	5,329	5,599	5,851	6,135	6,336	6,482	7,072	7,171
Sales mean (mil)	4,681	4,782	5,187	5,517	5,731	6,009	6,369	6,495	6,891	7,182
Surprise	+0.2%	+1.4%	+2.7%	+1.5%	+2.1%	+2.1%	−0.5%	−0.2%	+2.6%	−0.2%
EPS reported	0.73	0.77	1.01	1.04	1.14	1.31	1.39	1.43	1.62	1.69
EPS mean	0.72	0.75	0.91	1.01	1.10	1.25	1.39	1.40	1.55	1.66
Surprise	+1.8%	+2.7%	+10.4%	+3.2%	+3.6%	+5.1%	−0.3%	+2.5%	+4.5%	+1.8%

Peer comparison Investment Banking & Investment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SCHW The Charles Schwab Corporation	154.4B	–	30.4%	3.08x	13.9x	11.4x	24.4x	20.7x
MS Morgan Stanley	291.2B	–	13.6%	2.51x	14.4x	13.6x	–	–
GS The Goldman Sachs Group, Inc.	258.5B	–	13.0%	2.07x	12.5x	12.0x	–	–
BLK BlackRock, Inc.	188.4B	–	22.9%	3.12x	20.0x	17.8x	14.6x	12.8x
IBKR Interactive Brokers Group Inc	132.0B	9.69x	9.4%	5.65x	28.7x	23.3x	30.2x	24.8x
BX Blackstone Inc.	142.3B	2.66x	20.9%	10.17x	20.0x	16.2x	18.1x	14.6x
Mean		6.17x	18.4%	4.43x	18.3x	15.7x	21.8x	18.2x
Median		6.17x	17.2%	3.10x	17.2x	14.9x	21.3x	17.7x

Technical analysis

1M−7.7%
3M−15.4%
1Y−2.9%
3Y+66.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, The Charles Schwab Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	27,675	25,999	25,521	22,307	18,996	12,109
Cost of revenue	3,754	6,393	6,684	1,545	476	418
Gross profit	23,921	19,606	18,837	20,762	18,520	11,691
Selling, general & administrative expenses	9,845	9,015	9,303	8,769	8,038	5,786
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,362	1,416	1,338	1,248	1,164	604
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	185	350	381	454	423
Other operating expenses	1,255	1,298	1,468	976	1,151	578
Operating income	11,459	7,692	6,378	9,388	7,713	4,300
Net interest income (expense)	–	–	–	–	–	–
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	11,459	7,692	6,378	9,388	7,713	4,300
Provision for taxes	2,607	1,750	1,311	2,205	1,858	1,001
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	8,852	5,942	5,067	7,183	5,855	3,299
Extraordinary items	–	–	–	–	–	–
Net income	8,852	5,942	5,067	7,183	5,855	3,299
EBIT, normalized	11,459	7,915	7,274	9,780	8,181	4,742
EBITDA, normalized	12,821	9,350	8,612	11,028	9,345	5,346
Basic EPS, normalized	4.87	3.25	3.13	3.90	3.25	–

Balance sheet in millions of USD, fiscal years

Balance sheet, The Charles Schwab Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	46,030	42,083	43,337	40,195	62,975	40,348
Receivables	113,918	87,985	68,824	66,591	90,565	64,440
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	3,796	3,929	4,320	4,608	4,284	3,820
Goodwill	11,951	11,951	11,951	11,951	11,952	11,952
Intangibles	7,233	7,743	8,260	8,789	9,379	9,991
Long-term investments	216,295	242,804	279,097	335,234	404,676	353,323
Note receivable	59,560	45,909	41,038	41,065	35,273	24,392
Other long-term assets	192,160	167,507	148,512	150,125	201,706	145,531
Total assets	490,995	479,843	493,178	551,772	667,270	549,009
Liabilities
Accounts payable	142,030	114,895	84,786	97,438	125,671	104,201
Payable/accrued	–	–	–	–	–	–
Accrued expenses	12,831	12,325	18,400	13,124	17,791	17,094
Short-term debt	264,510	281,820	322,906	383,774	448,633	358,022
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	22,199	22,428	26,128	20,828	18,914	13,632
Minority interest	–	–	–	–	–	–
Other liabilities	419,371	409,040	426,092	494,336	592,095	479,317
Total liabilities	441,570	431,468	452,220	515,164	611,009	492,949
Shareholders' equity
Preferred stock	6,763	9,191	9,191	9,706	9,954	7,733
Common stock	21.0	21.0	21.0	21.0	21.0	21.0
Additional paid-in capital	27,996	27,639	27,330	27,075	26,741	26,515
Retained earnings (accumulated deficit)	44,065	37,568	33,901	31,066	25,992	21,975
Treasury stock	−18,437	−11,196	−11,354	−8,639	−5,338	−5,578
Other equity	−10,983	−14,848	−18,131	−22,621	−1,109	5,394
Total equity	49,425	48,375	40,958	36,608	56,261	56,060
Total liabilities & shareholders' equity	490,995	479,843	493,178	551,772	667,270	549,009

Cash flow statement in millions of USD, fiscal years

Cash flow statement, The Charles Schwab Corporation, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	8,852	5,942	5,067	7,183	5,855	3,299
Depreciation, depletion & amortization	1,362	1,435	1,338	1,248	1,164	604
Deferred taxes	361	−191	−478	−18.0	53.0	−138
Non-cash items	1,741	1,695	1,852	2,231	2,972	2,139
Changes in working capital	−3,005	−6,211	11,808	−8,587	−7,926	948
Cash from operations	9,311	2,670	19,587	2,057	2,118	6,852
Investing activities
Capital expenditures	−548	−620	−700	−971	−916	−631
Other investing cash flows	25,086	36,051	58,111	33,019	−74,747	−125,220
Cash from investing	24,538	35,431	57,411	32,048	−75,663	−125,851
Financing activities
Financing cash flow items	−3,475	−30,933	−76,871	−77,148	85,652	137,873
Cash dividends paid	−2,329	−2,275	−2,276	−2,110	−1,822	−1,280
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−23,898	−13,852	17,902	10,535	12,493	7,389
Cash from financing	−29,702	−47,060	−61,245	−68,723	96,323	143,982
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	4,147	−8,959	15,753	−34,618	22,778	24,983
Free cash flow	8,763	2,050	18,887	1,086	1,202	6,221

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 3, 2026 after market close.