Charles Schwab
Integrates retail brokerage, banking, wealth management, and custody for independent advisers.
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Profile
Provides brokerage, investing, wealth advice, banking, asset management, workplace services, and custody for independent advisers. Revenue spans interest on client cash and loans, asset-management and administration fees, trading, and bank-deposit fees, making results sensitive to cash allocation and interest rates.
Serves individual investors, employers, and independent registered investment advisers through Investor Services and Advisor Services. Investor Services combines self-directed brokerage and thinkorswim trading with wealth advice, Schwab Funds and ETFs, banking and lending, trust, and workplace retirement and stock-plan services. Advisor Services supplies custody, trading, banking, technology, and practice support to independent advisers. The U.S. is the core market, with limited international offices and cross-border investing access.
Scale and shared infrastructure support broad service and competitive pricing, while the completed Forge acquisition adds private-market investing capabilities. Revenue comes chiefly from interest on client cash and lending, asset-management and administration fees, trading, and bank-deposit fees. Client cash allocation and interest rates shape net interest revenue; broker-dealer and banking operations carry capital, liquidity, client-protection, and market-conduct requirements.
Company facts
Categories
Key statistics
Year to date +8.4% · Average volume (30d) 7.7M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 3, 2026 | UBS | Target | $128 | $135 | ||
| Aug 2, 2026 | Compass Point | Initiate | Buy | $98 | $135 | |
| Jul 27, 2026 | Morgan Stanley | Reiterate | Overweight | $133 | $136 | |
| Jul 23, 2026 | Argus Research | Reiterate | Buy | $108 | $114 | |
| Jul 22, 2026 | Raymond James | Reiterate | Outperform | $137 | $145 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 21, 2026Q2 FY26 | $1.56 | $1.62 | +3.8% | $6.90B | $7.07B | +2.6% | +0.84% |
| Apr 16, 2026Q1 FY26 | $1.40 | $1.43 | +2.1% | $6.50B | $6.48B | −0.3% | −0.37% |
| Jan 21, 2026Q4 FY25 | $1.36 | $1.39 | +2.2% | $6.38B | $6.34B | −0.7% | +2.22% |
| Oct 16, 2025Q3 FY25 | $1.25 | $1.31 | +4.8% | $6.01B | $6.14B | +2.1% | +0.78% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $6.65B | $6.82B | $7.04B | $7.17B | $7.30B | $8.52B | |
| Gross profit | $5.60B | $5.85B | $6.14B | $6.34B | $6.48B | $7.07B | |
| Operating income | $2.46B | $2.80B | $3.02B | $3.18B | $3.19B | $3.67B | |
| Net income | $1.91B | $2.13B | $2.36B | $2.46B | $2.48B | $2.80B | |
| Diluted EPS | $0.99 | $1.08 | $1.26 | $1.33 | $1.37 | $1.54 | |
| Gross margin | 84.2% | 85.8% | 87.1% | 88.4% | 88.8% | 83.0% | |
| Operating margin | 36.9% | 41.1% | 42.9% | 44.4% | 43.7% | 43.1% |
Fiscal years (4-quarter sums)FY21 $19.00B · FY22 $22.31B · FY23 $25.52B · FY24 $26.00B · FY25 $27.68B
Revenue by product · Q4 FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $73.60B · Total debt $37.10B · Total assets $517.30B · Shareholders' equity $49.88B
Dividends
Raised for 35 straight years — most recently to $0.32 from $0.27 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 28 | $0.32 | |
| May 8, 2026 | May 8 | May 22 | $0.32 | |
| Feb 13, 2026 | Feb 13 | Feb 27 | $0.32 | raised from $0.27 |
| Nov 14, 2025 | Nov 14 | Nov 28 | $0.27 | |
| Aug 8, 2025 | Aug 8 | Aug 22 | $0.27 | |
| May 9, 2025 | May 9 | May 23 | $0.27 | |
| Feb 14, 2025 | Feb 14 | Feb 28 | $0.27 | raised from $0.25 |
| Nov 8, 2024 | Nov 8 | Nov 22 | $0.25 |
Ownership
Shares outstanding 1.74B · Float 1.64B · 94.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 134.41M | 7.73% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 107.33M | 6.17% | 13F | Aug 13, 2026 |
| Dodge & Cox | 76.97M | 4.43% | 13F | Aug 13, 2026 |
| State Street Corp | 73.17M | 4.21% | 13F | Aug 7, 2026 |
| Charles R. Schwab · director, officer: Co-Chairman | 53.55M | 3.08% | Form 4 | Aug 28, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | Carolyn Schwab-Pomerantz | director | −9,175 | $109.25 |
| Aug 24, 2026 | Charles R. Schwab | director, officer: Co-Chairman | −117,000 | $113.20 |
| Aug 24, 2026 | Walter W. Bettinger | director, officer: Co-Chairman | −176,210 | $113.49 |
| Aug 17, 2026 | Jonathan S. Beatty | officer: MD, Head of Advisor Services | −1,000 | $111.33 |
| Aug 14, 2026 | Jonathan M. Craig | officer: MD, Head of Retail Investing | −21,866 | $111.03 |
Peers
- Morgan Stanley
Global wealth manager and investment bank whose E*Trade unit competes directly in self-directed retail brokerage.
- LPL Financial
Largest U.S. independent broker-dealer and a top-tier custodian competing for independent advisors.
- Interactive Brokers
Low-cost electronic brokerage focused on active and professional traders.
- Robinhood Markets
Mobile-first, commission-free retail brokerage that popularized zero-commission trading.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Charles Schwab | $110.05 | −0.09% | $191.58B | 20.0 | 15.2 | 6.4 | +20.9% |
| Morgan Stanley | $214.50 | −0.13% | $338.75B | 17.5 | 16.3 | 2.7 | +36.8% |
| LPL Financial | $370.69 | +0.02% | $29.65B | 29.6 | 13.7 | 1.5 | +35.2% |
| Interactive Brokers | $95.50 | −0.32% | $165.61B | 38.3 | 32.8 | 14.9 | +31.9% |
| Robinhood Markets | $104.06 | −0.14% | $93.74B | 45.9 | 44.4 | 22.5 | +32.3% |
| Median | 33.9 | 24.6 | 8.8 | +33.7% |