The Charles Schwab Corporation (SCHW) Income Statement
SCHW 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsSCHW revenue and net income
Where SCHW's revenue goes
2025Each bar shows an amount and its share of revenue. SCHW kept 32.0% of revenue as net income.
SCHW profit margins
SCHW growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +6.4% | +7.5% | +18.0% | +15.6% |
| Gross profit | +22.0% | +4.8% | +15.4% | +14.1% |
| Operating income | +49.0% | +6.9% | +21.7% | +17.5% |
| Net income | +49.0% | +7.2% | +21.8% | +19.9% |
| EPS (diluted) | +50.2% | +7.7% | +15.2% | +17.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
SCHW quarterly EPS vs estimates
Charles Schwab beat the analyst EPS estimate in 8 of the last 8 quarters.
SCHW income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.68B | $26.00B | $25.52B | $22.31B | $19.00B | $12.11B | $11.79B | $10.99B | $8.96B | $7.65B |
| Cost of revenue | $3.75B | $6.39B | $6.68B | $1.54B | $476.0M | $418.0M | $1.06B | $857.0M | $342.0M | $166.0M |
| Gross profit | $23.92B | $19.61B | $18.84B | $20.76B | $18.52B | $11.69B | $10.72B | $10.13B | $8.62B | $7.48B |
| Research & development | — | — | $0 | $0 | $0 | $0 | — | $0 | $0 | $0 |
| Sales, general & admin | $6.91B | $6.44B | $6.71B | $6.36B | $5.93B | $4.28B | $4.00B | $3.80B | $3.42B | $3.11B |
| Total operating expenses | $12.46B | $11.91B | $12.46B | $11.37B | $10.81B | $7.39B | $5.87B | $5.57B | $4.97B | $4.49B |
| Operating income | $11.46B | $7.69B | $6.38B | $9.39B | $7.71B | $4.30B | $4.85B | $4.56B | $3.65B | $2.99B |
| Interest income | $15.50B | $15.54B | $15.98B | $12.23B | $8.51B | $6.53B | $7.58B | $6.68B | $4.62B | $3.49B |
| Interest expense | $3.75B | $6.39B | $6.68B | $1.54B | $476.0M | $418.0M | $1.06B | $857.0M | $342.0M | $171.0M |
| Income before taxes | $11.46B | $7.69B | $6.38B | $9.39B | $7.71B | $4.30B | $4.85B | $4.56B | $3.65B | $2.99B |
| Income taxes | $2.61B | $1.75B | $1.31B | $2.21B | $1.86B | $1.00B | $1.14B | $1.05B | $1.30B | $1.10B |
| Net income | $8.85B | $5.94B | $5.07B | $7.18B | $5.86B | $3.30B | $3.70B | $3.51B | $2.35B | $1.89B |
| EBITDA | $12.82B | $9.13B | $7.72B | $10.64B | $8.88B | $4.90B | $5.20B | $4.87B | $3.92B | $3.23B |
| EPS (diluted) | $4.88 | $3.25 | $3.13 | $3.91 | $3.24 | $2.41 | $2.67 | $2.45 | $1.64 | $1.29 |
| Gross margin | 86.4% | 75.4% | 73.8% | 93.1% | 97.5% | 96.5% | 91.0% | 92.2% | 96.2% | 97.8% |
| Operating margin | 41.4% | 29.6% | 25.0% | 42.1% | 40.6% | 35.5% | 41.1% | 41.5% | 40.7% | 39.1% |
| Net margin | 32.0% | 22.9% | 19.9% | 32.2% | 30.8% | 27.2% | 31.4% | 31.9% | 26.3% | 24.7% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.17B | $8.52B | $7.30B | $7.17B | $7.04B | $6.82B | $6.65B | $6.65B | $6.55B | $6.35B | $6.45B | $4.46B |
| Cost of revenue | $997.0M | $1.45B | $818.0M | $832.0M | $906.0M | $965.0M | $1.05B | $1.32B | $1.71B | $1.66B | $1.70B | $1.99B |
| Gross profit | $7.17B | $7.07B | $6.48B | $6.34B | $6.13B | $5.85B | $5.60B | $5.33B | $4.85B | $4.69B | $4.74B | $2.47B |
| Sales, general & admin | $2.68B | $2.71B | $1.91B | $1.75B | $1.75B | $1.64B | $1.77B | $1.63B | $1.62B | $1.56B | $1.63B | $1.24B |
| Total operating expenses | $3.39B | $3.40B | $3.29B | $3.16B | $3.11B | $3.05B | $3.14B | $3.02B | $3.00B | $2.94B | $2.95B | $1.24B |
| Operating income | $3.78B | $3.67B | $3.19B | $3.18B | $3.02B | $2.80B | $2.46B | $2.31B | $1.84B | $1.75B | $1.80B | −$1.10B |
| Interest income | — | $4.15B | $3.96B | $4.00B | $3.96B | $3.79B | $3.76B | $3.85B | $3.93B | $3.82B | $3.94B | $3.96B |
| Interest expense | $997.0M | $616.0M | $818.0M | $832.0M | $906.0M | $965.0M | $1.05B | $1.32B | $1.71B | $1.66B | $1.70B | $1.83B |
| Income before taxes | $3.78B | $3.67B | $3.19B | $3.18B | $3.02B | $2.80B | $2.46B | $2.31B | $1.84B | $1.75B | $1.80B | $1.19B |
| Income taxes | $871.0M | $869.0M | $709.0M | $721.0M | $663.0M | $677.0M | $546.0M | $465.0M | $434.0M | $415.0M | $436.0M | $149.0M |
| Net income | $2.91B | $2.80B | $2.48B | $2.46B | $2.36B | $2.13B | $1.91B | $1.84B | $1.41B | $1.33B | $1.36B | $1.04B |
| EBITDA | $4.11B | $4.01B | $3.52B | $3.51B | $3.36B | $3.15B | $2.80B | $2.66B | $2.20B | $2.11B | $2.16B | −$401.0M |
| EPS (diluted) | $1.69 | $1.62 | $1.43 | $1.39 | $1.31 | $1.14 | $1.04 | $1.01 | $0.77 | $0.73 | $0.74 | $0.68 |
| Gross margin | 87.8% | 83.0% | 88.8% | 88.4% | 87.1% | 85.8% | 84.2% | 80.1% | 74.0% | 73.9% | 73.6% | 55.3% |
| Operating margin | 46.2% | 43.1% | 43.7% | 44.4% | 42.9% | 41.1% | 36.9% | 34.7% | 28.1% | 27.5% | 27.9% | −24.8% |
| Net margin | 35.6% | 32.9% | 34.0% | 34.3% | 33.5% | 31.2% | 28.7% | 27.7% | 21.5% | 21.0% | 21.1% | 23.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in SCHW's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
SCHW financial results
In fiscal year 2025 (ended December 31, 2025), Charles Schwab reported revenue of $27.7 billion, up 6.4% from the year before. It had net income of $8.9 billion (up 49.0%), a net profit margin of 32.0%. Diluted earnings per share came to $4.88. Over five years revenue grew at an average rate of 18.0% a year.
See the SCHW stock overview for the latest quote and news, or the SCHW chart for price history and technical indicators.
SCHW income statement FAQ
What is Charles Schwab's annual revenue?
Charles Schwab reported total revenue of $27.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 6.4% from $26.0 billion the previous year.
Is Charles Schwab profitable?
Yes. Charles Schwab reported net income of $8.9 billion in fiscal 2025, a net profit margin of 32.0%; its operating margin was 41.4%.
What is Charles Schwab's gross margin?
Charles Schwab's gross margin was 86.4% in fiscal 2025: for every $100 of revenue, Charles Schwab kept $86 after the direct cost of its products and services.
How fast is Charles Schwab growing?
Revenue grew 18.0% a year on average over the last five fiscal years, from $12.1 billion to $27.7 billion.
What are Charles Schwab's earnings per share?
Charles Schwab earned $4.88 per diluted share in fiscal 2025, compared with $3.25 a year earlier.
When does Charles Schwab's fiscal year end?
Charles Schwab's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.