Charles Schwab (SCHW) financial statements
Charles Schwab reported revenue of $23.9B in fiscal 2025, up 13.8% a year over 9 years.
Net income was $8.9B.
Free cash flow was $8.8B, and the company returned $2.3B in dividends and $7.3B in net buybacks.
The diluted share count rose 36% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Charles Schwab's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.5B | $8.6B | $10.1B | $10.7B | $11.7B | $18.5B | $20.8B | $18.8B | $19.6B | $23.9B |
| Interest expense | $171M | $342M | $857M | $1.1B | $418M | $476M | $1.5B | $6.7B | — | — |
| Pre-tax income | $3.0B | $3.6B | $4.6B | $4.8B | $4.3B | $7.7B | $9.4B | $6.4B | $7.7B | $11.5B |
| Income tax | $1.1B | $1.3B | $1.1B | $1.1B | $1.0B | $1.9B | $2.2B | $1.3B | $1.8B | $2.6B |
| Net income | $1.9B | $2.4B | $3.5B | $3.7B | $3.3B | $5.9B | $7.2B | $5.1B | $5.9B | $8.9B |
| EPS (diluted) | $1.31 | $1.61 | $2.45 | $2.67 | $2.12 | $2.83 | $3.50 | $2.54 | $2.99 | $4.65 |
| Diluted shares | 1.33B | 1.35B | 1.36B | 1.32B | 1.44B | 1.90B | 1.89B | 1.83B | 1.83B | 1.81B |
| Net margin | 25.3% | 27.3% | 34.6% | 34.5% | 28.2% | 31.6% | 34.6% | 26.9% | 30.3% | 37.0% |
Balance sheet
Fiscal years, from Charles Schwab's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10.8B | $14.2B | $27.9B | $29.3B | $40.3B | $63.0B | $40.2B | $43.3B | $42.1B | $46.0B |
| Property, plant and equipment | $1.3B | $1.5B | $1.8B | $2.1B | $2.9B | $3.4B | $3.7B | $3.7B | $3.3B | $3.1B |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.2B | $12.0B | $12.0B | $12.0B | $12.0B | $12.0B | $12.0B |
| Total assets | $223.4B | $243.3B | $296.5B | $294.0B | $549.0B | $667.3B | $551.8B | $493.2B | $479.8B | $491.0B |
| Long-term debt | $2.9B | $4.8B | $6.9B | $7.4B | $13.6B | $18.9B | $20.8B | $26.1B | $22.4B | $22.2B |
| Total liabilities | $207.0B | $224.7B | $275.8B | $272.3B | $492.9B | $611.0B | $515.2B | $452.2B | $431.5B | $441.6B |
| Shareholders' equity | $16.4B | $18.5B | $20.7B | $21.7B | $56.1B | $56.3B | $36.6B | $41.0B | $48.4B | $49.4B |
| Net debt | -$8.0B | -$9.5B | -$21.1B | -$21.9B | -$26.7B | -$44.1B | -$19.4B | -$17.2B | -$19.7B | -$23.8B |
Cash flow
Fiscal years, from Charles Schwab's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.6B | -$839M | $12.5B | $9.3B | $6.9B | $2.1B | $2.1B | $19.6B | $2.7B | $9.3B |
| Capital spending | $346M | $400M | $570M | $708M | $631M | $916M | $971M | $700M | $620M | $548M |
| Free cash flow | $3.3B | -$1.2B | $11.9B | $8.6B | $6.2B | $1.2B | $1.1B | $18.9B | $2.0B | $8.8B |
| Stock-based compensation | $141M | $153M | $197M | $183M | $204M | $254M | $366M | $320M | $337M | $317M |
| Dividends paid | $486M | $592M | $787M | $1.1B | $1.3B | $1.8B | $2.1B | $2.3B | $2.3B | $2.3B |
| Share buybacks (net) | $0 | $0 | -$1.0B | -$2.2B | $0 | $0 | -$3.4B | -$2.8B | $0 | -$7.3B |
| Net borrowing | -$7M | $16.9B | -$12.9B | $593M | $2.4B | $5.2B | $1.9B | — | — | — |
| Free cash flow margin | 43.6% | -14.4% | 117.3% | 80.4% | 53.2% | 6.5% | 5.2% | 100.3% | 10.5% | 36.6% |
| Dividends per share | $0.36 | $0.44 | $0.58 | $0.80 | $0.89 | $0.96 | $1.11 | $1.24 | $1.24 | $1.29 |
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Open SCHW in InvestinglyQuestions
What was Charles Schwab's revenue in 2025?
$23.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Charles Schwab generate?
$8.8B in fiscal 2025 (operating cash flow minus capital spending).
From Charles Schwab's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.