# The Charles Schwab Corporation (SCHW)

> Source: Nexqual · https://nexqual.com/SCHW · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The Charles Schwab Corporation (SCHW), nexqual.com/SCHW" · informational, not investment advice.

**Price:** USD 91.44 (-0.22% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 91.64 · day 91.06–92.44 · 52w 83.96–114.53 · market cap $158B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $26.0B, net income $10.1B (38.8% margin) (SEC filings).
- Valuation: P/E 15.7x (avg 22.7x at the last 3 fiscal year-ends).
- 11 of 80 tracked superinvestors hold SCHW (13F, Q2 2026): 0 new, 6 added, 4 reduced, 1 unchanged.
- Total return with dividends: 1Y -2.1% vs S&P 500 +14.9%; 5Y +17.0% vs S&P 500 +80.3%.
- Next earnings: 2027-01-21, EPS estimate USD 1.72, revenue estimate $7.40B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $18.5B | $20.8B | $18.8B | $19.6B | $23.9B | $26.0B |
| Net income | $5.86B | $7.18B | $5.07B | $5.94B | $8.85B | $10.1B |
| EPS (diluted) | $2.83 | $3.50 | $2.54 | $2.99 | $4.65 | — |
| Free cash flow | $1.20B | $1.09B | $18.9B | $2.05B | $8.76B | $10.8B |
| Net margin | 31.6% | 34.6% | 26.9% | 30.3% | 37.0% | 38.8% |
| Revenue growth | +58.4% | +12.1% | -9.3% | +4.1% | +22.0% | — |
| Cash + short-term investments | $63.0B | $40.2B | $43.3B | $42.1B | $46.0B | — |
| Total debt | $23.8B | $37.9B | $26.1B | $22.4B | $24.1B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 15.7x · P/S 6.1x · P/FCF 14.7x · P/B 3.1x · FCF yield 6.82% · Earnings yield 6.38% · Dividend yield (paid, TTM) 1.52%
P/E at fiscal year-ends: Dec 2025 20.4x, Dec 2024 22.8x, Dec 2023 24.9x.

## Superinvestors (SEC 13F-HR, Q2 2026)
11 of 80 tracked investors hold SCHW. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Ruane Cunniff | Ruane Cunniff LP | 6.56% | $422M | Reduced -3.0% |
| Francois Rochon | Giverny Capital | 5.22% | $155M | Added +9.5% |
| Yacktman Asset Management |  | 4.68% | $378M | Added +5.0% |
| Dodge & Cox Funds | Dodge & Cox | 3.72% | $7.10B | Added +2.6% |
| Bill Nygren | Oakmark Funds | 2.97% | $2.23B | Added +10.9% |
| Viking Global | Viking Global Investors | 2.80% | $982M | Reduced -27.4% |
| Thomas Gayner | Markel Group | 0.98% | $129M | Added +0.8% |
| John Rogers | Ariel Investments | 0.48% | $48.5M | Added +30.4% |
| Mairs & Power | Mairs & Power Funds | 0.18% | $20.0M | Reduced -12.7% |
| Christopher Davis | Davis Advisors | 0.11% | $26.7M | Reduced -6.8% |
| Greenhaven Associates |  | 0.01% | $1.2M | Unchanged |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Morgan Stanley | Target lowered | Overweight | $141 → $132 |
| 2026-10-19 | BMO Capital | Target lowered | Market Perform | $105 → $97 |
| 2026-10-16 | Barclays | Target lowered | Overweight | $118 → $115 |
| 2026-10-16 | UBS | Target lowered | Buy | $113 → $109 |
| 2026-10-16 | Wells Fargo | Target lowered | Equal-Weight | $105 → $103 |
| 2026-10-16 | JP Morgan | Target lowered | Overweight | $150 → $147 |
| 2026-10-16 | Evercore ISI Group | Target lowered | In-Line | $107 → $104 |
| 2026-10-16 | TD Cowen | Reiterated | Buy | $129 |
| 2026-10-16 | Citizens | Reiterated | Market Outperform | $120 |
| 2026-10-16 | Truist Securities | Target lowered | Buy | $125 → $112 |
| 2026-10-13 | Truist Securities | Target lowered | Buy | $130 → $125 |
| 2026-10-12 | TD Cowen | Target raised | Buy | $128 → $129 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -2.1% | +17.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -2.1% | +3.2% |
| Volatility (annualized) | 25.7% | 33.1% |
| Max drawdown | -21.2% (Aug 2026→Oct 2026) | -47.8% (Jan 2022→May 2023) |

## Peers (Capital Markets)
IBKR (Interactive Brokers Group, Inc.) USD 82.28 -3.57% · GS (Goldman Sachs Group, Inc. (The)) USD 891.3 -1.48% · HOOD (Robinhood Markets, Inc.) USD 96.58 -5.25% · MS (Morgan Stanley) USD 183.97 -1.63% · NMR (Nomura Holdings Inc) USD 9.04 -1.95% · TW (Tradeweb Markets Inc.) USD 121.89 +1.57%

## More
Full page: https://nexqual.com/SCHW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Investor Services | $5.53B | 78.2% | +19.3% |
| Advisor Services | $1.54B | 21.8% | +27.0% |
| Total revenue | $7.07B | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Asset Management & Administration Service | $1.82B | 25.8% | +16.2% |
| — Investment Performance (part of Asset Management & Administration Service) | $1.02B | 14.4% | +13.6% |
| — Investment Advice (part of Asset Management & Administration Service) | $707.0M | 10.0% | +20.0% |
| — Financial Service Other (part of Asset Management & Administration Service) | $98.0M | 1.4% | +18.1% |
| Trading Revenue Service | $1.22B | 17.2% | +27.6% |
| — Order Flow Revenue (part of Trading Revenue Service) | $624.0M | 8.8% | +33.9% |
| — Commissions (part of Trading Revenue Service) | $528.0M | 7.5% | +22.5% |
| — Principal Transactions (part of Trading Revenue Service) | $63.0M | 0.9% | +14.5% |
| Product & Service Other | $342.0M | 4.8% | +31.5% |
| Bank Deposit Account Fees | $333.0M | 4.7% | +34.8% |
| Total revenue | $7.07B | 100% | — |
The lines above cover 52.5% of total revenue.

## Company outlook (8-K filed 2026-10-15)

- "Adjusted Tier 1 Leverage Ratio Adjusted Tier 1 Leverage Ratio represents the Tier 1 Leverage Ratio as prescribed by bank regulatory guidance for the consolidated company and for Charles Schwab Bank, SSB (CSB), adjusted to reflect the inclusion of accumulated other comprehensive income (AOCI) in the ratio."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $1.72 | $1.78 | -3.8% | $7.40B | 20 |
| Next quarter (ends 2027-03-31) | $1.78 | $1.80 | -1.4% | $7.58B | 16 |
| Current fiscal year (ends 2026-12-31) | $6.44 | $6.46 | -0.2% | $28.10B | 23 |
| Next fiscal year (ends 2027-12-31) | $7.81 | $7.66 | +1.9% | $31.66B | 24 |