Schwab Charles
SCHW · NYSESecurity Brokers, Dealers & Flotation Companies · Fiscal year ends Dec 31
Schwab Charles reported revenue of $23.9B in the fiscal year ended Dec 2025, up 22.0% from the year before. Net income was $8.9B. Operating cash flow of $9.3B less capital expenditure of $548M left free cash flow of $8.8B. It held more cash than debt (net cash $23.8B).
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $18.5B | $20.8B | $18.8B | $19.6B | $23.9B |
| Net interest incomeBanks | $8B | $10.7B | $9.4B | $9.1B | $11.8B |
| Interest expense | $476M | $1.5B | $6.7B | – | – |
| Pre-tax income | $7.7B | $9.4B | $6.4B | $7.7B | $11.5B |
| Income tax | $1.9B | $2.2B | $1.3B | $1.8B | $2.6B |
| Net income | $5.9B | $7.2B | $5.1B | $5.9B | $8.9B |
| Diluted EPS | 2.83 | 3.50 | 2.54 | 2.99 | 4.65 |
| Diluted shares | 1,897M | 1,894M | 1,831M | 1,834M | 1,809M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $63B | $40.2B | $43.3B | $42.1B | $46B |
| Net PP&E | $3.4B | $3.7B | – | – | – |
| Goodwill | $12B | $12B | $12B | $12B | $12B |
| Total assets | $667B | $552B | $493B | $480B | $491B |
| Short-term debt | $4.9B | $17.1B | – | – | – |
| Long-term debt | $18.9B | $20.8B | $26.1B | $22.4B | $22.2B |
| DepositsBanks | $444B | $367B | $290B | $259B | $256B |
| Total liabilities | $611B | $515B | $452B | $431B | $442B |
| Shareholders' equity | $56.3B | $36.6B | $41B | $48.4B | $49.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $2.1B | $2.1B | $19.6B | $2.7B | $9.3B |
| Capital expenditure | $916M | $971M | $700M | $620M | $548M |
| Free cash flow | $1.2B | $1.1B | $18.9B | $2.1B | $8.8B |
| Depreciation & amortisation | $549M | $652M | $804M | – | – |
| Stock-based compensation | $254M | $366M | $320M | $337M | $317M |
| Share buybacks | $0 | $3.4B | $2.8B | $0 | $7.3B |
| Dividends paid | $1.8B | $2.1B | $2.3B | $2.3B | $2.3B |
| Dividend per share | 0.72 | 0.84 | 1.00 | 1.00 | 1.08 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.1% | −9.3% | 4.1% | 22.0% |
| EPS growth (YoY) | – | 23.7% | −27.4% | 17.7% | 55.5% |
| Net margin | 31.6% | 34.6% | 26.9% | 30.3% | 37.0% |
| Return on equityBlank when equity is negative | 10.4% | 19.6% | 12.4% | 12.3% | 17.9% |
| Free cash flow margin | 6.5% | 5.2% | 100.3% | 10.5% | 36.6% |
| Cash conversion (CFO ÷ net income) | 0.36x | 0.29x | 3.87x | 0.45x | 1.05x |
| Debt ÷ equity | 0.42x | 1.03x | 0.64x | 0.46x | 0.45x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −$39.2B | −$2.3B | −$17.2B | −$19.7B | −$23.8B |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.