IBKR vs SCHW: Interactive Brokers and Charles Schwab compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Charles Schwab is the larger company, worth $169.4B, close to Interactive Brokers's $146.5B.
- Interactive Brokers grew revenue faster over the last year (+28.1% vs +20.9%).
- On earnings, Charles Schwab is the cheaper stock (19.4x vs 37.0x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | IBKR | SCHW |
|---|---|---|
| Market cap | $146.5B | $169.4B |
| Share price | $87.87 | $96.70 |
| Revenue (last fiscal year) | $6.2B | $23.9B |
| Free cash flow (last fiscal year) | — | $8.8B |
| Revenue growth, last year | +28.1% | +20.9% |
| Revenue growth per year, last 5 fiscal years | +23.0% | +6.6% |
| Operating margin | — | — |
| Net margin | 16.4% | 38.8% |
| Return on equity | 19.1% | 20.1% |
| P/E (trailing) | 37.0x | 19.4x |
| Price / free cash flow | 9.30x | 19.3x |
| EV / EBITDA | 7.06x | 10.0x |
| FCF growth the price implies | — | 4.6% |
| Dividend yield | 0.36% | 1.2% |
| Debt / equity | 38.1x | 9.31x |
| Fundamental grade | C | B |
| Superinvestors holding it | 8 | 17 |
| Insider purchases, last 12 months | 6 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Interactive Brokers
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $2.7B | — | — |
| 2022 | $3.1B | — | — |
| 2023 | $4.3B | — | — |
| 2024 | $5.2B | — | — |
| 2025 | $6.2B | — | — |
Charles Schwab
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $18.5B | $1.2B | — |
| 2022 | $20.8B | $1.1B | — |
| 2023 | $18.8B | $18.9B | — |
| 2024 | $19.6B | $2.0B | — |
| 2025 | $23.9B | $8.8B | — |
Where the revenue comes from
Interactive Brokers · by segments, 2019
Electronic Brokerage$1.9B97%
Market Making$67M3%
Charles Schwab · by segments, 2025
Investor Services$19.0B79%
Advisor Services$4.9B21%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open IBKR in InvestinglyQuestions
Which is bigger, Interactive Brokers or Charles Schwab?
Charles Schwab (SCHW), at $169.4B against $146.5B.
Is IBKR or SCHW cheaper?
By trailing P/E, Charles Schwab (19.4x) is cheaper than Interactive Brokers (37.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, IBKR or SCHW?
Interactive Brokers: revenue grew +28.1% over the last year, against +20.9%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.