SCHWAB CHARLES CORPSCHW
SCHWAB CHARLES CORP Financial Overview 2020–2024
Charles Schwab posted a staggering 77% year-over-year surge in diluted EPS for Q3 2025, signaling a definitive pivot from its recent "cash sorting" headwinds. With the Ameritrade integration finalized in May 2024 and the divestiture of TD Bank’s stake completed in early 2025, the company has unlocked significant operating leverage, driving pre-tax profit margins to 49.2%. This recovery punctuates a massive scaling of the business, where total net revenues expanded from $11.7 billion in FY2020 to $19.6 billion in FY2024, creating a brokerage giant with $10.8 trillion in total client assets by Q2 2025.
The company’s asset-gathering engine remains potent, generating $137.7 billion in core net new assets during Q1 2025 alone. Management has aggressively repaired the balance sheet, paying down $35.1 billion in higher-cost bank supplemental funding year-to-date in FY2025, which directly fueled a 27% jump in Q3 2025 net revenue. This improved liquidity supported a $1.5 billion share repurchase from TD Bank in February 2025 and an 8% dividend hike later that year. While earnings dipped to $2.54 per share in FY2023 during the height of interest rate pressure, the rebound to $2.99 in FY2024 and the subsequent acceleration in 2025 underscore the resilience of Schwab's model in a normalized rate environment.
Recent Developments (Q2 and Q3 2025)
Schwab expanded its strategic footprint into private markets by agreeing to acquire Forge Global Holdings for approximately $660 million in November 2025. This transaction complements a recovering core business, highlighted by a 31% year-over-year surge in Net Interest Revenue during Q2 2025 as funding costs declined. Momentum accelerated through the third quarter, with core net new assets jumping 44% and new brokerage accounts rising 18%. To further strengthen capital flexibility, the firm issued $2 billion in senior notes in November 2025. Bulls cite the double-digit growth in asset management fees and account openings as evidence of an intact growth engine, while bears caution that shares traded at a rich 31.9x earnings as of November 6, 2025, implying high expectations for future margin expansion.
What to watch: integration progress of the Forge Global acquisition; sustainability of the recent spike in new brokerage account openings.
Rev
$19.61B
FY2024
NI
$5.94B
FY2024
EPS$SCHW
$3.00
FY2024
OCF
$2.67B
FY2024
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
Recent SEC Filings
SCHWAB CHARLES CORP 8-K Report, Executive Changes (Jan 29, 2026)
The Charles Schwab Corporation (SCHW) has announced a key executive appointment through an 8-K filing. Dennis Howard has been appointed as Managing Director, Chief Technology, Operations and Data Officer, effective immediately. This role consolidates leadership over technology, operations, and data, signaling a strategic focus on these critical areas within the company. Mr. Howard brings extensive experience within Schwab, having previously served as Chief Information Officer since 2022 and holding various senior technology leadership roles since joining in 2014. His prior experience at Visa Inc. further underscores his deep expertise in the financial technology and operations landscape. This appointment is part of broader leadership transitions announced by the company, as detailed in an accompanying press release. Investors should view this as a move to centralize and strengthen executive oversight of technology, operations, and data functions, which are paramount for a financial services firm like Schwab. The appointment is not contingent on any special arrangements and Mr. Howard has no disclosed conflicts of interest, providing a clear path for his new responsibilities.
SCHWAB CHARLES CORP 8-K Report, Financial Results (Jan 21, 2026)
The Charles Schwab Corporation (SCHW) has filed a Form 8-K on January 21, 2026, to report on its financial results for the quarter ended December 31, 2025. While the 8-K itself is a brief notification, it furnishes a press release (Exhibit 99.1) which contains the detailed financial information investors should review. This filing signifies the company's official disclosure of its most recent quarterly performance, including key operational and financial condition metrics. Investors should examine the provided press release for specifics on revenue, earnings, asset management, client numbers, and any forward-looking statements or guidance issued by the company.
SCHWAB CHARLES CORP 8-K Report, Corporate Update (Nov 14, 2025)
The Charles Schwab Corporation (SCHW) has announced the successful issuance of $2 billion in senior notes through a public offering on November 14, 2025. This issuance comprises $1 billion of 4.343% Fixed-to-Floating Rate Senior Notes due 2031 and $1 billion of 4.914% Fixed-to-Floating Rate Senior Notes due 2036. The net proceeds from this offering are approximately $1.986 billion, after accounting for underwriting discounts and offering expenses. This move provides Schwab with significant capital, likely intended for general corporate purposes, to support its ongoing operations, growth initiatives, or potentially to refinance existing debt. The fixed-to-floating rate structure indicates a strategy to manage interest rate exposure over the life of the notes, offering flexibility as market conditions change. Investors in these notes will receive interest payments with a yield tied to prevailing market rates after the initial fixed period.
SCHWAB CHARLES CORP 8-K Report, Regulation FD Disclosure (Nov 6, 2025)
The Charles Schwab Corporation (SCHW) has announced a significant strategic move through a definitive agreement to acquire Forge Global Holdings, Inc. This acquisition signals Schwab's intent to expand its offerings and market presence within the private markets, a growing area of interest for investors. The accompanying press release and investor presentation, filed as exhibits to this 8-K, provide crucial details for stakeholders to understand the rationale and potential implications of this transaction. Investors should pay close attention to the information presented in the investor deck, which likely elaborates on the strategic fit, financial terms, and anticipated synergies of integrating Forge Global. This acquisition could position Schwab to better serve clients seeking access to and investment opportunities in private companies, a segment that has seen considerable growth and investor demand.
SCHWAB CHARLES CORP 8-K Report, Financial Results (Oct 16, 2025)
The Charles Schwab Corporation (SCHW) filed an 8-K on October 16, 2025, to report its financial results for the quarter ended September 30, 2025. The core of this filing is the press release, furnished as Exhibit 99.1, which contains the detailed financial performance and operational updates for the period. Investors should refer to this press release for specific metrics and commentary on the company's performance, as the 8-K itself primarily serves as a notification of this disclosure.
View all 8-K filings →