Friday 6 November 2026 Export SCHW’s income statement to Excel — free account

The Charles Schwab Corporation

The Charles Schwab Corporation’s revenue for fiscal 2025 (year ended December 2025) was $23.9 billion, up 22.0% from fiscal 2024.

Revenue: +16.9%
EPS: +29.4%
Free cash flow: +35.0%
Total debt: +12.2%

Quarter to September 2026, against a year earlier

92.72 0.65 −0.70%

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Market cap: $160.1B
P/E: 15.7×
Fwd P/E: 14.2×
Dividend yield: 1.33%
F-score: 8/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

The Charles Schwab Corporation (SCHW) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Investor Services	18,999	79.42%
Advisor Services	4,922	20.58%
Gross margin		100.00%
Operating margin		53.15%
Pre-tax margin		47.90%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2017
Asset management and administration fees	6,506 27.20%	5,716 29.15%	4,756 25.25%	3,392 39.36%
Trading revenue	3,921 16.39%	3,264 16.65%	3,230 17.15%	654 7.59%
Mutual funds, ETFs, CTFs, and alternatives	3,665 15.32%	3,221 16.43%	2,563 13.61%	2,088 24.23%
Managed investing solutions	2,440 10.20%	2,129 10.86%	1,868 9.92%	1,043 12.10%
Order flow revenue	1,930 8.07%	1,477 7.53%	1,404 7.45%	—
Commissions	1,797 7.51%	1,591 8.11%	1,601 8.50%	600 6.96%
Bank deposit account fees	977 4.08%	729 3.72%	705 3.74%	—
Other	767 3.21%	753 3.84%	719 3.82%	—
Other	401 1.68%	366 1.87%	325 1.73%	261 3.03%
Principal transactions	194 0.81%	196 1.00%	225 1.19%	54 0.63%
Other, not broken out	1,323 5.53%	164 0.84%	1,441 7.65%	526 6.10%
Revenue	23,921	19,606	18,837	8,618

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008
Investor Services	18,999 79.42%	15,558 79.35%	14,650 77.77%	15,846 76.32%	14,461 78.08%	8,608 73.63%	7,623 71.10%	7,321 72.26%	6,200 71.94%	5,411 72.36%	4,771 74.78%	4,597 75.88%	4,125 75.90%	3,686 75.49%	3,619 77.15%	2,845 66.97%	2,710 64.63%	3,385 65.73%
Advisor Services	4,922 20.58%	4,048 20.65%	4,187 22.23%	4,916 23.68%	4,059 21.92%	3,083 26.37%	3,098 28.90%	2,811 27.74%	2,418 28.06%	2,067 27.64%	1,609 25.22%	1,410 23.28%	1,310 24.10%	1,125 23.04%	1,072 22.85%	—	—	—
Intersegment, Nonoperating	—	—	—	—	—	0 0.00%	0 0.00%	—	—	—	—	—	—	—	—	—	—	—
Segment Reconciling Items	—	—	—	—	—	—	—	—	—	—	—	51 0.84%	—	72 1.47%	—	—	—	—
Institutional Services	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1,403 33.03%	1,483 35.37%	1,754 34.06%
Unallocated	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	11 0.21%
Revenue	23,921	19,606	18,837	20,762	18,520	11,691	10,721	10,132	8,618	7,478	6,380	6,058	5,435	4,883	4,691	4,248	4,193	5,150

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Active brokerage accounts	Q3 FY2026	40.3M	38.0M	+6.05%
Advisor Services	Q3 FY2026	$5.85T	$5.02T	+16.53%
Advisor Services net new assets	Q3 FY2026	$120.1B	$81.7B	+47.00%
Banking accounts	Q3 FY2026	2.4M	2.2M	+12.79%
Bank Supplemental Funding	Q4 FY2025	$5.1B	$49.9B	−89.78%
Clients’ Daily Average Trades (DATs)	Q3 FY2026	10.7M	7.4M	+44.01%
Client transactional sweep cash balances	Q3 FY2026	$492.8B	$425.6B	+15.79%
Core net new assets	Q3 FY2026	$190.4B	$137.5B	+38.47%
Full-time equivalent employees	Q3 FY2026	33.9K	32.7K	+3.67%
Margin balances	Q1 FY2026	$126.7B	—	—
Net Inflows to Managed Investing Solutions	Q3 FY2026	22.0%	—	—
New brokerage accounts	Q3 FY2026	1.2M	1.1M	+8.75%
Revenue Per Trade	Q1 FY2026	$1.80	—	—
Total client accounts	Q3 FY2026	48.6M	45.7M	+6.35%
Total client assets	Q1 FY2026	$11.77T	$9.93T	+18.51%
Total net new assets	Q3 FY2026	$192.4B	$134.4B	+43.15%
Workplace Plan Participant Accounts	Q3 FY2026	5.9M	5.6M	+4.43%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023
Active brokerage accounts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Advisor Services	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Advisor Services net new assets	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Banking accounts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Bank Supplemental Funding	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Clients’ Daily Average Trades (DATs)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Client transactional sweep cash balances	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Core net new assets	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Full-time equivalent employees	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Margin balances	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net Inflows to Managed Investing Solutions	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
New brokerage accounts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Revenue Per Trade	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total client accounts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total client assets	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total net new assets	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Workplace Plan Participant Accounts	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.