Latest revenue
$3.34B
as of 2026-03-31
Latest net income
$2.48B
as of 2026-03-31
Net margin
74.3%
as of 2026-03-31
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $156.78B
- Enterprise value
- $152.95B
- P/E (trailing)
- 17.7×
- Forward P/E
- —
- P/B
- 3.17×
- Dividend yield
- 1.3%
- 52-wk high
- $107.50
- 52-wk low
- $85.76
- Beta
- —
- Shares out
- 1.74B
5-year trend
What this company does
Charles Schwab runs a retail brokerage, bank, and asset management business, serving individual investors directly and providing custody and trading services to independent registered investment advisors. It earns most of its money from net interest revenue on client cash deposits, supplemented by asset management fees and trading commissions across $11.6 trillion in client assets. Schwab is acquiring Forge Global to add private-market capabilities, while client assets grew 17% year-over-year and net new assets accelerated sharply, signaling momentum past the post-TD Ameritrade integration phase.
Key risks
- Interest rate sensitivity: net interest revenue and EVE remain exposed to rate moves and client cash sorting into higher-yielding alternatives.
- Bank supplemental funding paydown still in progress, leaving wholesale funding dependence and deposit-rate competition pressuring margins.
- Forge acquisition execution risk: regulatory approvals, Forge shareholder vote, and integration could delay anticipated private-markets benefits.
Profitability
Net margin
37.0%
22.1%Return on equity
17.9%
23.5%Return on assets
1.8%
45.6%Leverage
Debt / equity
8.93×
16.6%Long-term debt / equity
0.45×
18.0%Debt / assets
89.9%
1.7%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $3.34B | +15.4% | $2.48B | +29.9% | 74.3% |
Q4 2025 2025-12-31 | $14.91B | +24.9% | $2.46B | +33.6% | 16.5% |
Q3 2025 2025-09-30 | $3.08B | +17.5% | $2.36B | +67.5% | 76.4% |
Q2 2025 2025-06-30 | $3.03B | +19.6% | $2.13B | +59.6% | 70.2% |
Q1 2025 2025-03-31 | $2.89B | +15.4% | $1.91B | +40.2% | 66.0% |
Q4 2024 2024-12-31 | $11.94B | — | $1.84B | — | 15.4% |
Q3 2024 2024-09-30 | $2.63B | +10.8% | $1.41B | +25.2% | 53.6% |
Q2 2024 2024-06-30 | $2.53B | +7.0% | $1.33B | +2.9% | 52.6% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Security Brokers, Dealers & Flotation Companies · SIC 6211
Your notes
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Insider activity
Insider buying
$0
Insider selling
$279.1M
Net activity
−$279.1M
Distinct insiders
15
Open-market trades over the last 365 days.
Recent transactions
Source: SEC Form 4 filings. Officers, directors, and 10%+ owners must disclose share transactions within two business days. RSU grants and tax-withholding rows are excluded by default — compensation activity is not a trading signal.
Who owns SCHW
Institutional value
$35.71B
Total shares held
385.8M
Distinct holders
729
As of
2026-03-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | VANGUARD CAPITAL MANAGEMENT LLC | 108.4M | $10.18B | — | New |
| 2 | VANGUARD PORTFOLIO MANAGEMENT LLC | 26.6M | $2.50B | — | New |
| 3 | PRIMECAP MANAGEMENT CO/CA/ | 23.4M | $2.20B | — | New |
| 4 | Fisher Asset Management, LLC | 22.2M | $2.09B | — | New |
| 5 | Invesco Ltd. | 17.0M | $1.59B | — | New |
| 6 | Bank of New York Mellon Corp | 16.2M | $1.52B | — | New |
| 7 | Legal & General Group Plc | 10.1M | $946.6M | — | New |
| 8 | VANGUARD FIDUCIARY TRUST CO | 9.4M | $885.2M | — | New |
| 9 | UBS Group AG | 5.8M | $543.1M | — | New |
| 10 | DIMENSIONAL FUND ADVISORS LP | 5.7M | $539.7M | — | New |
| 11 | ENVESTNET ASSET MANAGEMENT INC | 5.6M | $528.4M | — | New |
| 12 | Boston Partners | 5.5M | $515.7M | — | New |
| 13 | Allen Investment Management, LLC | 5.3M | $500.8M | — | New |
| 14 | DEUTSCHE BANK AG\ | 5.3M | $499.4M | — | New |
| 15 | National Pension Service | 4.5M | $421.4M | — | New |
| 16 | Mitsubishi UFJ Asset Management Co., Ltd. | 3.8M | $357.7M | — | New |
| 17 | Vanguard Global Advisers, LLC | 3.7M | $344.1M | — | New |
| 18 | WELLS FARGO & COMPANY/MN | 3.6M | $336.1M | — | New |
| 19 | BNP PARIBAS FINANCIAL MARKETS | 3.3M | $314.8M | — | New |
| 20 | California Public Employees Retirement System | 3.0M | $284.4M | — | New |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
- 1
With $11.59T in client assets but bank supplemental funding still being paid down, when do you expect full elimination and what's the NIM uplift?
- 2
Client cash sorting drove prior margin compression—what's current cash allocation behavior and sensitivity if the Fed cuts another 50bps?
- 3
How does Forge acquisition pricing reconcile with private-market valuation declines, and what revenue contribution justifies the integration risk?