Charles Schwab
SCHW on NYSE. Schwab sells brokerage, banking, and advisory services to individual investors and advisors. Market value $169.4bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Financial services stocks that passed both tests
This is not advice. Check the numbers below.
Yearly profit per dollar of owners' money: 13 cents. Above 10 is good.
What you pay for each dollar of net assets: $3.34.
Profit per $100 you pay: $6.03.
Quality score: 62 of 100. Price score: 37 of 100. Our list needs 70 on quality and 60 on price.
$96.80 a share, 15% above its 1-year low
Over the past year the price has ranged from $83.96 to $114.53.
Expected to report results Thursday 15 Oct, before the market opens.
Dividend: 1.4% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $18.5bn | $20.8bn | $18.8bn | $19.6bn | $23.9bn |
| Operating margin | |||||
| Operating margin | n/a | n/a | n/a | n/a | n/a |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 1.90bn | 1.89bn | 1.83bn | 1.78bn | 1.73bn |
Health checks
- Free cash flow positiveDoesn't apply to banks and insurers
- Accounting checksDoesn't apply to banks and insurers
- DebtDoesn't apply to banks and insurers
- Revenue growth, five yearsStrong, 15.4% a year
- Buying back its own sharesYes, 9% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $7.1 billion last quarter, up 21% on a year ago.
- Profit: $2.8 billion, up 32% on a year ago.
- Spare cash over the past 12 months: $10.8 billion, down from $17.2 billion.
- 5% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $4.8bn |
| December 2024 | $5.3bn |
| March 2025 | $5.6bn |
| June 2025 | $5.9bn |
| September 2025 | $6.1bn |
| December 2025 | $6.3bn |
| March 2026 | $6.5bn |
| June 2026 | $7.1bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $1.4bn |
| December 2024 | $1.8bn |
| March 2025 | $1.9bn |
| June 2025 | $2.1bn |
| September 2025 | $2.4bn |
| December 2025 | $2.5bn |
| March 2026 | $2.5bn |
| June 2026 | $2.8bn |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 15 October 2026
- Last annual report (10-K)
- 25 February 2026
- Next quarterly (estimated, 10-Q)
- 6 November 2026
Who owns it
26 long-term investors we follow own it, up from 25 last quarter. 2,308 funds in all.
- Markel GroupTom Gayner
- Value
- $129m
- Share of fund
- 1.0%
- Cooke & BielerCooke & Bieler partners
- Value
- $63m
- Share of fund
- 0.7%
- First Manhattan Co.First Manhattan partners
- Value
- $42m
- Share of fund
- 0.1%
- Letko BrosseauLetko Brosseau team
- Value
- $2m
- Share of fund
- <0.1%
- Greenhaven AssociatesEdgar Wachenheim III
- Value
- $1m
- Share of fund
- <0.1%
- Auxier Asset ManagementJeff Auxier
- Value
- $645,244
- Share of fund
- <0.1%
Largest holders overall
- BlackRock$12.4bn
- Vanguard Capital Management$9.9bn
- Dodge & Cox$7.1bnAdded
- State Street$6.8bn
- JPMorgan Chase$4.5bnCut
- FMR$4.1bnAdded
- Price T Rowe Associates$4.0bnCut
- Geode Capital Management$3.4bnCut
- Franklin Resources$3.4bnAdded
- Vanguard Portfolio Management$2.5bn
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
1 investor owns more than 5%.
- Vanguard Capital ManagementPassive investor7.2%Since 31 March 2026
- Sold down below 5%Since 10 February 2025
What they said
Item 4 of the Statement is hereby amended and supplemented by the following: On February 10, 2025, in connection with a registered secondary public offering (the "Secondary Offering") of Common Stock, TD GUS, the Issuer and the underwriters party thereto (the "Underwriters"),…
Read the filing - The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Vanguard Capital Management Passive investor | 7.2% | 31 March 2026 | |
Sold down below 5% | 10 February 2025 | What they saidItem 4 of the Statement is hereby amended and supplemented by the following: On February 10, 2025, in connection with a registered secondary public offering (the "Secondary Offering") of Common Stock, TD GUS, the Issuer and the underwriters party thereto (the "Underwriters"),… Read the filing | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 1 insider bought $2m of shares on the open market. 15 sold $335m, $35m of it under preset trading plans.
- Hathi NeeshaMD, Head Wealth Adv, Bnk, TstSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 5,000
- Price
- $97.80
- Value
- $489,007
- Hathi NeeshaMD, Head Wealth Adv, Bnk, TstSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 3,177
- Price
- $109.04
- Value
- $346,428
- Hathi NeeshaMD, Head Wealth Adv, Bnk, TstSoldunder a preset trading plan
- Date
- 28 August 2026
- Shares
- 3,177
- Price
- $108.12
- Value
- $343,498
- Bettinger Walter WCo-Chairman, DirectorSold
- Date
- 28 August 2026
- Shares
- 74,388
- Price
- $110.91
- Value
- $8m
- Schwab-Pomerantz CarolynDirectorSold
- Date
- 26 August 2026
- Shares
- 9,175
- Price
- $109.25
- Value
- $1m
- Bettinger Walter WCo-Chairman, DirectorSold
- Date
- 24 August 2026
- Shares
- 176,210
- Price
- $113.49
- Value
- $20m
- Schwab Charles R.Co-Chairman, DirectorSold
- Date
- 24 August 2026
- Shares
- 117,000
- Price
- $113.20
- Value
- $13m
- Beatty Jonathan SMD, Head of Advisor ServicesSold
- Date
- 17 August 2026
- Shares
- 1,000
- Price
- $111.33
- Value
- $111,330
- Craig Jonathan M.MD, Head of Retail InvestingSoldunder a preset trading plan
- Date
- 14 August 2026
- Shares
- 21,866
- Price
- $111.03
- Value
- $2m
- Howard DennisMD, Chief Tech, OPS & Data OffSoldunder a preset trading plan
- Date
- 13 August 2026
- Shares
- 2,198
- Price
- $110.00
- Value
- $241,780
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 October 2026 | Hathi Neesha MD, Head Wealth Adv, Bnk, Tst | Sold under a preset trading plan | 5,000 | $97.80 | $489,007 |
| 1 September 2026 | Hathi Neesha MD, Head Wealth Adv, Bnk, Tst | Sold under a preset trading plan | 3,177 | $109.04 | $346,428 |
| 28 August 2026 | Hathi Neesha MD, Head Wealth Adv, Bnk, Tst | Sold under a preset trading plan | 3,177 | $108.12 | $343,498 |
| 28 August 2026 | Bettinger Walter W Co-Chairman, Director | Sold | 74,388 | $110.91 | $8m |
| 26 August 2026 | Schwab-Pomerantz Carolyn Director | Sold | 9,175 | $109.25 | $1m |
| 24 August 2026 | Bettinger Walter W Co-Chairman, Director | Sold | 176,210 | $113.49 | $20m |
| 24 August 2026 | Schwab Charles R. Co-Chairman, Director | Sold | 117,000 | $113.20 | $13m |
| 17 August 2026 | Beatty Jonathan S MD, Head of Advisor Services | Sold | 1,000 | $111.33 | $111,330 |
| 14 August 2026 | Craig Jonathan M. MD, Head of Retail Investing | Sold under a preset trading plan | 21,866 | $111.03 | $2m |
| 13 August 2026 | Howard Dennis MD, Chief Tech, OPS & Data Off | Sold under a preset trading plan | 2,198 | $110.00 | $241,780 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.