Charles Schwab (SCHW)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
At a market value of $169.5B, Charles Schwab's free cash flow of $8.8B (fiscal 2025) would need to grow about 5% a year for the stock to be worth today's price. That is slower than the company has grown its free cash flow over the last 9 years.
Assumes a 9% discount rate and 3% growth after year 10, on free cash flow (operating cash flow minus capital spending) from Charles Schwab's SEC filings. Change any assumption, or model revenue and margins instead, in the Modeling tab, or try your own numbers in the reverse DCF calculator.
Fundamental grade
Five factors scored 1 to 9 from SCHW's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Charles Schwab's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $18.5B | $20.8B | $18.8B | $19.6B | $23.9B |
| Net income | $5.9B | $7.2B | $5.1B | $5.9B | $8.9B |
| Free cash flow | $1.2B | $1.1B | $18.9B | $2.0B | $8.8B |
| EPS (diluted) | $2.83 | $3.50 | $2.54 | $2.99 | $4.65 |
| Operating margin | — | — | — | — | — |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own SCHW
From each investor's latest 13F filing (what a 13F shows). 17 of the investors we track hold it.
| Investor | Last quarter | Value | % of portfolio | Quarter |
|---|---|---|---|---|
| Dodge & Cox Dodge & Cox |
Added | $7.1B | 3.7% | Q2 2026 |
| PRIMECAP Management PRIMECAP Management Co |
Added | $2.3B | 1.4% | Q2 2026 |
| Bill Nygren Harris Associates LP |
Added | $2.2B | 3.0% | Q2 2026 |
| Ron Baron Baron Capital (BAMCO) |
Added | $1.1B | 1.6% | Q2 2026 |
| Andreas Halvorsen Viking Global Investors |
Trimmed | $982M | 2.8% | Q2 2026 |
| Ruane, Cunniff & Goldfarb Ruane, Cunniff & Goldfarb |
Trimmed | $422M | 6.6% | Q2 2026 |
| Donald Yacktman Yacktman Asset Management |
Added | $378M | 4.7% | Q2 2026 |
| Cliff Asness AQR Capital Management |
Added | $371M | 0.13% | Q2 2026 |
| Hersh Cohen ClearBridge Investments |
Trimmed | $209M | 0.17% | Q2 2026 |
| Francois Rochon Giverny Capital Inc. |
Added | $155M | 5.2% | Q2 2026 |
| Tom Gayner Markel Group Inc. |
Added | $129M | 0.98% | Q2 2026 |
| John Rogers Ariel Investments |
Added | $48M | 0.48% | Q2 2026 |
Insider buying
Open-market purchases by Charles Schwab's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
| Date | Insider | Shares | Price | Value |
|---|---|---|---|---|
| Feb 24, 2026 | Ro Khanna |
0 | $93.27 | — |
| Feb 24, 2026 | Ro Khanna |
0 | $93.27 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $103.42 | — |
| Jan 29, 2026 | Ro Khanna |
0 | $103.42 | — |
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In the full deep dive
Questions
What growth does Charles Schwab's stock price imply?
At a market value of $169.5B, Charles Schwab would need its free cash flow to grow about 5% a year for 10 years (discounted at 9%, 3% growth after that) to be worth today's price. Over the last 9 years its free cash flow grew 12% a year.
Are Charles Schwab insiders buying the stock?
4 open-market insider purchases of SCHW in the last 12 months, from SEC Form 4 filings.
Which superinvestors own Charles Schwab?
17 of the superinvestors Investingly tracks hold SCHW in their latest 13F, including Dodge & Cox, PRIMECAP Management, Bill Nygren.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.