Companies /Financial Services
Charles Schwab Corp
NYSE: SCHW Capital Markets
$90.58
▼ $0.86 (−0.94%) today
Markets closed · 9:34pm ET

Charles Schwab (SCHW) Q4 2025 Earnings

Reported Jan 21, 2026, 4:16pm ET · SEC source
$1.39
Beat +0.09%
EPS · est. $1.39
$6.3B
Miss −0.57%
Revenue · est. $6.4B
−8.4%
Trailing market
SCHW vs S&P since report
6 quarters
Consecutive EPS beats

How Did SCHW Stock React to Q4 2025 Earnings?

% change · around the report
0+2%Jan 21Jan 22report 4:16pm ETearnings+0.4%+1.1%
0+2%Jan 21Jan 22earnings+0.4%+1.1%
SCHW +1.1%S&P 500 +0.4%
0+2%Jan 21Jan 22report 4:16pm ETearnings+0.5%+1.1%
0+2%Jan 21Jan 22earnings+0.5%+1.1%
SCHW +1.1%NASDAQ +0.5%
−2%0+2%Jan 20Jan 29report 4:16pm ETearnings+1.2%+0.2%
−2%0+2%Jan 20Jan 29earnings+1.2%+0.2%
SCHW +0.2%S&P 500 +1.2%
−4%−2%0+2%Jan 20Jan 29report 4:16pm ETearnings+2.1%+0.2%
−4%−2%0+2%Jan 20Jan 29earnings+2.1%+0.2%
SCHW +0.2%NASDAQ +2.1%
+0.79%
Day of report
+2.22%
Next session
+1.65%
One week
−8.88%
30 days

S&P 500 over the same 30 days: −0.44%.

Did SCHW Beat Earnings? Q4 2025 Results

Yes. Charles Schwab reported Q4 2025 earnings of $1.39 a share on Jan 21, 2026, beating the $1.39 consensus estimate by 0.1%. Revenue was $6.3B against a $6.4B estimate.

Charles Schwab capped 2025 with a record-setting fourth quarter, matching the Wall Street consensus of $1.39 in adjusted EPS while delivering revenue of $6.34 billion that left estimates of $3.31 billion well behind, even as reported revenue slipped 4.7% from a year ago. The primary engine behind the quarter's strength was net interest revenue, which climbed 25% year-over-year to $3.17 billion, powered by a 57-basis-point expansion in net interest margin to 2.90% and rising client sweep cash balances that ended December at $453.70 billion. Full-year adjusted EPS of $4.87 reflected a 50% jump from 2024's $3.25, underscoring the breadth of the company's recovery and growth trajectory. Total client assets rose 18% year-over-year to $11.90 trillion, while core net new assets reached $163.90 billion for the quarter alone. The company also signaled confidence in its outlook by raising its quarterly dividend 19% and announcing a definitive agreement to acquire Forge Global, a private securities marketplace, expected to close in the first half of 2026.

Key Takeaways
  • Net interest margin expanded 57 basis points year-over-year to 2.90%
  • Core net new assets of $163.9 billion in Q4, up 42% full-year versus 2024
  • Total client assets grew 18% year-over-year to a record $11.90 trillion
  • Daily average trading volume up 31% year-over-year to 8.3 million
  • Managed Investing Solutions net inflows grew 50% versus Q4 2024
  • Bank loan balances grew 28% year-over-year to $58.0 billion
  • Margin loan balances increased 34% year-over-year to $112.3 billion
  • New brokerage account openings exceeded 1 million for 5th consecutive quarter
  • Organic growth rate of 5.1% for full year 2025

“Schwab delivered growth on all fronts in 2025. Total client accounts grew 6% year-over-year to 46.5 million. New and existing clients entrusted us with $519 billion in core net new assets – a 5.1% organic growth rate – bringing total client assets to a record $11.90 trillion.”

Charles Schwab CEO, on the earnings call

SCHW YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$2.0B$4.0B$6.0B$6.7B$6.3BRevenue$1.8B$2.5BNet Income$2.3B$3.2BOperating Income
$0$2.0B$4.0B$6.0BRevenueNet IncomeOperating Income
SCHW income statement, Q4 2025 versus Q4 2024
Metric Q4 2025 Q4 2024 Year over year
Revenue $6.3B $6.7B −4.7%
Net Income $2.5B $1.8B +33.6%
Operating Income $3.2B $2.3B +38.0%

SCHW Revenue by Segment

Net Interest Revenue$3.2B+25.0%
Asset Management and Administration Fees$1.7B+15.0%
Trading Revenue$1.1B+22.0%
Bank Deposit Account Fees$238.0M

Figures from SEC filings and company reports. Not investment advice.