SCHWAB CHARLES CORP SCHW
The Charles Schwab Corporation (CSC) is a savings and loan holding company. CSC engages, through its subsidiaries (collectively referred to as Schwab or the Company), in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. At December 31, 2025, Schwab had $11.90 trillion in client assets, 38.5 million active brokerage accounts, 5.7 million workplace plan participant accounts, and 2.2 million banking accounts.
•Charles Schwab & Co., Inc. (CS&Co), incorporated in 1971, a securities broker-dealer;
•Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab's proprietary mutual funds (Schwab Funds®) and for Schwab's exchange-traded funds (Schwab ETFs).
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.92B | $19.61B | $18.84B | $20.76B | $18.52B | $11.69B | $10.72B | $10.13B | $8.62B | $7.48B |
| Interest expense | $11.75B | $9.14B | $9.43B | $10.68B | $476.0M | $418.0M | $1.06B | $857.0M | $342.0M | $171.0M |
| Pre-tax income | $11.46B | $7.69B | $6.38B | $9.39B | $7.71B | $4.30B | $4.85B | $4.56B | $3.65B | $2.99B |
| Income tax | $2.61B | $1.75B | $1.31B | $2.21B | $1.86B | $1.00B | $1.14B | $1.05B | $1.30B | $1.10B |
| Net income | $8.9M | $5.9M | $5.1M | $7.2M | $5.9M | $3.30B | $3.70B | $3.51B | $2.35B | $1.89B |
| EPS, basic | 4.67 | 3.00 | 2.55 | 3.52 | 2.84 | 2.13 | 2.69 | 2.47 | 1.63 | 1.32 |
| EPS, diluted | 4.65 | 2.99 | 2.54 | 3.50 | 2.83 | 2.12 | 2.67 | 2.45 | 1.61 | 1.31 |
| Shares, diluted (wtd. avg.) | $1.81B | $1.83B | $1.83B | $1.89B | $1.90B | $1.44B | $1.32B | $1.36B | $1.35B | $1.33B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $46.03B | $42.08B | $43.34B | $58.72B | $93.34B | $70.56B | $45.58B | $38.23B | $19.16B | $17.87B |
| Property, plant and equipment | — | — | — | — | — | $2.88B | $2.13B | $1.77B | $1.47B | $1.30B |
| Goodwill | $11.95B | $11.95B | $11.95B | $11.95B | $11.95B | $11.95B | $1.23B | $1.23B | $1.23B | $1.23B |
| Other intangibles | $7.23B | $7.74B | $8.26B | $8.79B | $9.38B | $9.99B | $128.0M | $152.0M | $108.0M | $144.0M |
| Total assets | $491.00B | $479.84B | $493.18B | $551.77B | $667.27B | $549.01B | $294.00B | $296.48B | $243.27B | $223.38B |
| Short-term debt | — | — | — | $17.05B | $4.86B | $0 | — | $0 | $15.00B | $0 |
| Long-term debt | — | — | — | — | $18.91B | $13.63B | $7.43B | — | — | — |
| Total liabilities | $441.57B | $431.47B | $452.22B | $515.16B | $611.01B | $492.95B | $272.26B | $275.81B | $224.75B | $206.96B |
| Retained earnings | $44.06B | $37.57B | $33.90B | $31.07B | $25.99B | $21.98B | $19.96B | $17.33B | $14.41B | $12.65B |
| Total equity | $49.42B | $48.38B | $40.96B | $36.61B | $56.26B | $56.06B | $21.75B | $20.67B | $18.52B | $16.42B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $9.31B | $2.67B | $19.59B | $2.06B | $2.12B | $6.85B | $9.32B | $12.46B | -$839.0M | $3.60B |
| Depreciation and amortisation | — | — | — | — | — | — | $322.0M | $277.0M | $232.0M | $197.0M |
| Stock-based compensation | $317.0M | $337.0M | $320.0M | $366.0M | $254.0M | $204.0M | $183.0M | $197.0M | $153.0M | $141.0M |
| Capital expenditure | $548.0M | $620.0M | $700.0M | $971.0M | $916.0M | $631.0M | $708.0M | $570.0M | $400.0M | $346.0M |
| Investing cash flow | $24.54B | $35.43B | $57.41B | $32.05B | -$75.66B | -$125.85B | $11.96B | -$40.55B | -$20.47B | -$38.77B |
| Financing cash flow | -$29.70B | -$47.06B | -$61.24B | -$68.72B | $96.32B | $143.98B | -$13.94B | $47.17B | $22.60B | $34.96B |
| Dividends paid | $2.33B | $2.27B | $2.28B | $2.11B | $1.82B | $1.28B | $1.06B | $787.0M | $592.0M | $486.0M |
| Buybacks | $7.35B | $0 | $2.84B | $3.40B | $0 | $0 | $2.22B | $1.00B | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-142826.
Others in SIC 6211
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MS | MORGAN STANLEY | $341.94B | 21.3x | 9.1% |
| GS | GOLDMAN SACHS GROUP INC | $302.41B | 20.2x | -1.3% |
| BLK | BlackRock, Inc. | $173.87B | 31.8x | 18.7% |
| HOOD | Robinhood Markets, Inc. | $109.78B | 59.6x | 51.6% |
| IBKR | Interactive Brokers Group, Inc. | $41.48B | 41.7x | 23.4% |
| RJF | RAYMOND JAMES FINANCIAL INC | $34.30B | 17.3x | 6.6% |
| SEIC | SEI INVESTMENTS CO | $13.25B | 19.6x | 8.1% |
| SF | STIFEL FINANCIAL CORP | $12.57B | 13.9x | 14.5% |