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

The Charles Schwab Corporation

SCHW Financial Capital Markets

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%
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
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

The Charles Schwab Corporation (SCHW) valuation and DCF model

What the price implies · reverse DCF

At $92.72 the price implies 42.6% a year of dividend growth, at a 9.0% cost of equity.

The dividend a share grew 16.0% a year over the last ten years, 7.6% over the last five. The price asks for about three times its ten-year rate.

In December 2018 the price assumed 24.0% a year; The Charles Schwab Corporation went on to grow the dividend a share −4.5% a year to FY2025.

Price implies
42.6%
Last 5 years, reported
7.6%
Last 10 years, reported
16.0%

The headline discounts the last twelve months’ the dividend a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
42.6% a year for ten years
$92.72
today’s price
Its base case
16.0% a year for five years, then 9.6%
$11.27
87.8% below today’s price

Both are growth in the dividend a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record The Charles Schwab Corporation’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Dividends
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in the dividend. It usually slows as the company matures.

Today’s price implies the dividend a share growing 42.6% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against The Charles Schwab Corporation’s own cost of capital: risk-free 4.3% + beta 0.76 × equity premium 4.5% = 7.7% cost of equity; weighted, 7.7%.

Use 7.7%
Base case value per share $11.27 ten years discounted, and what follows
Current price $92.72 market price per share
Below today’s price 87.8% downside at the base case’s assumptions

How we got there$4.17 10 years of dividends+$7.10 terminal value=$11.27 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Capital Markets).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 15.74× 22.43× 23.29× 32% below 14.35× 10% above
P/FCF 14.85× 50.06× 42.28× 65% below 9.28× 60% above
P/B 3.65× 4.21× 3.68× 1% below 1.36× 167% above
EV/EBITDA — 6.85× 6.29× — 3.38× —
EV/Sales — 4.10× 3.63× — 3.90× —
P/E P/FCF P/B EV/EBITDA EV/Sales
12.20×51.38×90.56×129.75×10Y avg 42.28×2016201820192020202120222023202420252026

SCHW trades at 14.85× P/FCF, against a 10-year average of 42.28× (range 4.71×–142.23×). That is cheaper than 56% of the last 9 year-end readings; re-rating to the average implies $263.99 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.