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Large US brokerage and bank offering commission-free trading, wealth management and banking to retail investors.
Large US brokerage and bank offering commission-free trading, wealth management and banking to retail investors.
Earns from interest on client cash and loans, fees on managed assets, and order-flow revenue, rather than trading commissions, which it dropped to zero in 2019. It bought TD Ameritrade in 2020 and also serves independent advisers by holding their clients' assets.
Moat: narrow (scale, switching costs, brand). Scale from the TD Ameritrade merger and RIA custody relationships create durable asset stickiness.
Headquarters: Westlake, Texas, US · Founded: 1971 · Employees: 33,000
Size Charles Schwab (SCHW) is a United States Financials company (Investment Banks/Brokers) with a market value of $158B, the 78th largest of 3,117 United States companies the cockpit tracks. Shares closed at $91.49 on 6 Nov 2026.
Performance Over six months the shares gained 3.2%, against +7.2% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 15 in its peer set.
Growth Revenue grew 12.3% over the last twelve months (peer median +8.1%); the operating margin is 51.8% (peer median 40.2%).
Valuation It trades at 12.2× forward earnings against a peer median of 19.1× (6th cheapest of 15).
Credit Charles Schwab has 30 bonds outstanding ($28.8B), rated A- by the agencies and trading like A at a weighted spread of 55 bp.
Short interest Short interest is 1.0% of the free float (15 Oct 2026).
Next results Next results expected around 19 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $30.5B | $27.7B | $26.0B | $25.5B | $22.3B |
| Revenue growth | — | +6% | +2% | +14% | — |
| Gross profit | $26.4B | $22.9B | $19.7B | $19.3B | $19.1B |
| EBITDA | $17.1B | $14.3B | $11.7B | $10.6B | $11.3B |
| Net income | $10.6B | $8.85B | $5.94B | $5.07B | $7.18B |
| Free cash flow | n/a | $13.3B | $16.1B | -$4.87B | $1.96B |
| Capital expenditure | n/a | $548M | $620M | $700M | $971M |
| Total debt | $40.0B | $31.9B | $45.9B | $60.0B | $38.9B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Charles Schwab SCHW | $158B | +3% | +12% | 52% | 12.2× | n/a |
| Interactive Brokers IBKR | $129B | -10% | +16% | 87% | 23.9× | n/a |
| Robinhood Markets HOOD | $72.9B | +5% | +22% | 44% | 29.7× | n/a |
| Morgan Stanley MS | $285B | -6% | +16% | 33% | 13.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SCHW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.5% | +1.5% | 3rd lowest of 15 |
| 6-month return | +3.2% | +7.2% | 6th lowest of 15 |
| Distance from 52-week high | -20.1% | -11.9% | 5th lowest of 15 |
| Revenue growth (TTM) | +12.3% | +8.1% | 5th highest of 15 |
| Operating margin | 51.8% | 40.2% | 5th highest of 15 |
| Forward P/E | 12.2× | 19.1× | 6th cheapest of 15 |
| Bond spread | 55 bp | 83 bp | 4th tightest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Charles Schwab SCHW | United States | $158B | +3% | +12% | 52% | 12.2× | n/a | n/a |
| Interactive Brokers IBKR | United States | $129B | -10% | +16% | 87% | 23.9× | n/a | n/a |
| CME CME | United States | $109B | +9% | +9% | 66% | 23.6× | n/a | n/a |
| Goldman Sachs GS | United States | $250B | -8% | +12% | 40% | 12.0× | n/a | n/a |
| BNY Mellon BNY | United States | $99.4B | +13% | -1% | 37% | 14.7× | n/a | n/a |
| Intercontinental Exchange ICE | United States | $96.3B | +11% | +14% | 47% | 20.1× | n/a | n/a |
| Barclays BARC.L | United Kingdom | $75.1B | +1% | +7% | 22% | 8.2× | n/a | n/a |
| Robinhood Markets HOOD | United States | $72.9B | +5% | +22% | 44% | 29.7× | n/a | n/a |
| Deutsche Bank Aktiengesellschaft DBK.DE | Germany | $65.0B | +15% | 0% | 30% | 9.5× | n/a | n/a |
| Deutsche Boerse DB1.DE | Germany | $63.8B | +32% | +7% | 41% | 24.7× | n/a | n/a |
| Macquarie MQG.AX | Australia | $63.5B | +5% | +5% | 20% | 18.1× | n/a | n/a |
| HKEX 0388.HK | Hong Kong | $62.2B | -10% | +23% | 75% | 24.6× | n/a | n/a |
| Nasdaq NDAQ | United States | $59.4B | +21% | +12% | 31% | 23.4× | n/a | n/a |
| CITIC Securities 600030.SS | China | $56.4B | -6% | -16% | 54% | 10.2× | n/a | n/a |
| State Street STT | United States | $45.0B | +11% | +2% | 33% | 11.1× | n/a | n/a |
Charles Schwab has 30 bonds outstanding with $28.8B face value. The agencies rate it A-; its bonds trade like A. Weighted yield 5.07%, a spread of 55 bp over government bonds.