Financials Charles Schwab

Equities

SCHW

US8085131055

Investment Banking & Brokerage Services

Market Closed - Nyse Other stock markets 21:00:02 13/02/2026 GMT			5-day change	1st Jan Change
93.72 ^USD	-1.10%		-10.81%	-6.20%

02-13	From software to real estate, U.S. sectors under the grip of AI scare trade	RE
02-13	Schwab reports monthly activity highlights	RE

Projected Income Statement: Charles Schwab

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	11,691	18,520	20,762	18,837	19,606	23,921	26,466	28,834
Change	-	58.41%	12.11%	-9.27%	4.08%	22.01%	10.64%	8.94%
EBITDA ¹	5,346	9,960	11,624	9,146	9,772	13,333	15,620	17,342
Change	-	86.31%	16.71%	-21.32%	6.84%	36.44%	17.16%	11.02%
EBIT ¹	4,932	8,796	10,376	7,808	7,692	11,459	13,655	15,398
Change	-	78.35%	17.96%	-24.75%	-1.49%	48.97%	19.16%	12.77%
Interest Paid ¹	-289	-384	-	-	-6,393	-3,754	-2,852	-2,701
Earnings before Tax (EBT) ¹	4,300	7,713	9,388	6,378	7,692	11,459	13,357	14,852
Change	-	79.37%	21.72%	-32.06%	20.6%	48.97%	16.56%	11.19%
Net income ¹	3,043	5,360	6,635	4,649	5,478	8,417	9,820	11,077
Change	-	76.14%	23.79%	-29.93%	17.83%	53.65%	16.67%	12.8%
Announcement Date	19/01/21	18/01/22	18/01/23	17/01/24	21/01/25	21/01/26	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	4,176	4,715	4,527	4,570	4,708	4,672	5,093	5,500	5,497	5,116	4,656	4,606	4,459	4,740	4,690	4,847	5,329	5,599	5,851	6,135	6,336	6,397	6,546	6,640	6,829	6,969	7,174	7,289
Change	-	12.91%	-3.99%	0.95%	3.02%	-0.76%	9.01%	7.99%	-0.05%	-6.93%	-8.99%	-1.07%	-3.19%	6.3%	-1.05%	3.35%	9.94%	5.07%	4.5%	4.85%	3.28%	0.97%	2.33%	1.43%	2.85%	2.05%	2.94%	1.6%
EBITDA ¹	2,035	2,362	2,306	2,561	2,577	2,393	2,835	3,249	3,147	2,655	2,280	2,236	1,975	2,296	2,284	2,356	2,836	2,932	3,274	3,487	3,640	3,676	3,922	3,978	4,044	4,033	4,269	4,401
Change	-	16.07%	-2.37%	11.06%	0.62%	-7.14%	18.47%	14.6%	-3.14%	-15.63%	-14.12%	-1.93%	-11.67%	16.25%	-0.52%	3.15%	20.37%	3.39%	11.66%	6.51%	4.39%	0.99%	6.7%	1.41%	1.67%	-0.28%	5.85%	3.09%
EBIT ¹	1,905	2,233	2,017	2,268	2,278	2,089	2,522	2,930	2,835	2,343	1,955	1,903	1,607	1,798	1,747	1,842	2,305	2,455	2,803	3,021	3,180	3,185	3,447	3,474	3,588	3,757	4,032	4,211
Change	-	17.22%	-9.67%	12.44%	0.44%	-8.3%	20.73%	16.18%	-3.24%	-17.35%	-16.56%	-2.66%	-15.55%	11.89%	-2.84%	5.44%	25.14%	6.51%	14.18%	7.78%	5.26%	0.15%	8.24%	0.78%	3.29%	4.71%	7.3%	4.45%
Charge d'intérêts ¹	-77	-85	-97	-123	-103	-108	-166	-131	-	-	-	-	-	-	-1,659	-1,706	-1,320	-1,051	-965	-906	-832	-763.5	-726.5	-682.5	-684	-658	-652	-649
Earnings before Tax (EBT) ¹	1,476	1,960	1,719	2,011	2,023	1,839	2,274	2,677	2,598	2,110	1,691	1,383	1,194	1,798	1,747	1,842	2,305	2,455	2,803	3,021	3,180	3,093	3,295	3,383	3,550	3,544	3,835	3,930
Change	-	32.79%	-12.3%	16.99%	0.6%	-9.1%	23.65%	17.72%	-2.95%	-18.78%	-19.86%	-18.21%	-13.67%	50.59%	-2.84%	5.44%	25.14%	6.51%	14.18%	7.78%	5.26%	-2.72%	6.5%	2.7%	4.92%	-0.17%	8.21%	2.46%
Net income ¹	1,050	1,388	1,117	1,406	1,449	1,278	1,652	1,884	1,821	1,533	1,173	1,017	926	1,251	1,211	1,299	1,717	1,796	1,977	2,277	2,367	2,303	2,439	2,497	2,601	2,604	2,786	2,885
Change	-	32.19%	-19.52%	25.87%	3.06%	-11.8%	29.26%	14.04%	-3.34%	-15.82%	-23.48%	-13.3%	-8.95%	35.1%	-3.2%	7.27%	32.18%	4.6%	10.08%	15.17%	3.95%	-2.71%	5.91%	2.39%	4.14%	0.13%	6.99%	3.57%
Announcement Date	19/01/21	15/04/21	16/07/21	15/10/21	18/01/22	18/04/22	18/07/22	17/10/22	18/01/23	17/04/23	18/07/23	16/10/23	17/01/24	15/04/24	16/07/24	15/10/24	21/01/25	17/04/25	18/07/25	16/10/25	21/01/26	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Charles Schwab

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-50,500	-39,200	-2,300	15,800	3,000	-15,000	-5,322	3,185
Change	-	22.38%	94.13%	786.96%	-81.01%	-600%	-301.21%	159.85%
Announcement Date	19/01/21	18/01/22	18/01/23	17/01/24	21/01/25	21/01/26	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Charles Schwab

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	631	916	971	804	607	602	738	863
Change	-	45.17%	6%	-17.2%	-24.5%	-0.82%	16.77%	16.94%
Free Cash Flow (FCF) ¹	3,030	5,247	6,682	4,969	2,050	15,091	17,833	17,497
Change	-	73.17%	27.35%	-25.64%	-58.74%	636.15%	18.17%	-1.88%
Announcement Date	19/01/21	18/01/22	18/01/23	17/01/24	21/01/25	21/01/26	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Charles Schwab

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	45.73%	53.78%	55.99%	48.55%	49.84%	55.74%	59.02%	60.14%
EBIT Margin (%)	42.19%	47.49%	49.98%	41.45%	39.23%	47.9%	51.59%	53.4%
EBT Margin (%)	36.78%	41.65%	45.22%	33.86%	39.23%	47.9%	50.47%	51.51%
Net margin (%)	26.03%	28.94%	31.96%	24.68%	27.94%	35.19%	37.1%	38.42%
FCF margin (%)	25.92%	28.33%	32.18%	26.38%	10.46%	63.32%	67.38%	60.68%
FCF / Net Income (%)	99.57%	97.89%	100.71%	106.88%	37.42%	178.06%	181.6%	157.96%
Profitability
ROA	0.72%	1.02%	1.21%	1.1%	1.23%	1.81%	2.1%	2.06%
ROE	9%	11%	18%	16%	15%	21%	21.47%	21.6%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	1.73x	0.31x	0.19x	-	0.18x
Debt / Free cash flow	-	-	-	3.18x	1.46x	0.18x	-	0.18x
Capital Intensity
CAPEX / Current Assets (%)	5.4%	4.95%	4.68%	4.27%	3.1%	2.52%	2.79%	2.99%
CAPEX / EBITDA (%)	11.8%	9.2%	8.35%	8.79%	6.21%	4.52%	4.72%	4.98%
CAPEX / FCF (%)	20.83%	17.46%	14.53%	16.18%	29.61%	4.19%	4.14%	4.93%
Items per share
Cash flow per share ¹	4.775	1.116	1.086	-	1.456	-	-	-
Change	-	-76.62%	-2.72%	-	-	-	-	-
Dividend per Share ¹	0.72	0.72	0.84	1	1	1.08	1.19	1.322
Change	-	0%	16.67%	19.05%	0%	8%	10.17%	11.08%
Book Value Per Share ¹	31.12	31.02	20.31	22.4	26.89	25.67	27.13	30.42
Change	-	-0.34%	-34.51%	10.28%	20.04%	-4.54%	5.72%	12.1%
EPS ¹	2.12	2.83	3.5	2.54	2.99	4.65	5.645	6.521
Change	-	33.49%	23.67%	-27.43%	17.72%	55.52%	20.7%	15.5%
Nbr of stocks (in thousands)	1,879,078	1,890,600	1,866,739	1,823,343	1,830,556	1,776,937	1,776,937	1,776,937
Announcement Date	19/01/21	18/01/22	18/01/23	17/01/24	21/01/25	21/01/26	-	-