NYSE · Financial Services

The Charles Schwab Corporation

SCHW · Capital Markets

$91.25

▼ -0.29 (-0.32%)

Data cached · refreshes every 10 min

Mr. Market is currently offering The Charles Schwab Corporation at $91.25.

The business passes only 3 of 6 of Graham's defensive criteria — well below his required standard.

Overall Grade

Defensive

Enterprising

Profitability A

Net Income Margin 37.0%

Fin. Health D

Years to Pay Off Debt 3.5 yrs

Valuation F

Margin of Safety 0.0%

Price-to-Book 3.72x

Cash Flow A

Free Cash Flow $8.8B

CapEx % of Net Income 6.2%

Owner Earnings $10.8B

3/6

Graham Score

Speculative

Defensive — Graham's strict criteria (P/B, P/E, dividends, stability) · Enterprising — Profitability & cash flow focused, accepts higher valuations for quality

Metric Explanations

What each dimension measures and where the thresholds come from.

Market Data

Market Cap $159.9B

Enterprise Value $108.0B

P/E (TTM) 18.14

Dividend Yield 1.23%

Exchange NYSE

Key Margins

Gross Profit N/A

Operating Margin N/A

Net Margin 37.0%

Company Info

Sector Financial Services

Industry Capital Markets

Employees 33500

Country United States

Visit website

📖

Full Graham Analysis

Mr. Market is currently offering The Charles Schwab Corporation at $91.25.

The business passes only 3 of 6 of Graham's defensive criteria — well below his required standard.

At $91.25, the stock trades at a 80% premium to its Graham Number of $50.68. Graham would consider this price speculative.

There is no margin of safety at the current price. Graham would advise patience and waiting for a better entry point.

Conclusion: By Graham's standards, this stock is speculative at its current price. The intelligent investor would look elsewhere or wait.

About The Charles Schwab Corporation

The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services. It offers brokerage accounts with equity and fixed income trading, margin lending, options trading, futures and forex trading, and cash management capabilities, including money market funds, and certificates of deposit; third-party mutual funds through the Mutual Fund Marketplace and Mutual Fund OneSource service, as well as mutual fund trading and clearing services to broker-dealers; exchange-traded funds; advisory solutions for managed portfolios, separately managed accounts, customized personal advice for tailored portfolios, specialized planning, and full-time portfolio management; banking products comprising checking and savings accounts, first lien residential real estate mortgage loans, home equity lines of credit, and pledged asset lines; and trust custody services, personal trust reporting services, and administrative trustee services. It provides digital and software based trading platforms; research tools, and multichannel support, real-time market data, options trading; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; retirement plan services; mutual fund clearing services; and advisor services, including interactive tools and educational content. The Company operates through branch offices. The Charles Schwab Corporation was founded in 1971 and is headquartered in Westlake, Texas.

Showing Key Metrics

Income Highlights

Metric	2025	2024	2023	2022	2021
Gross Profit %	N/A •	N/A	N/A	N/A	N/A
Operating Margin %	N/A •	N/A	N/A	N/A	N/A
Net Income %	37.0% ▲	30.3%	26.9%	34.6%	N/A
Diluted EPS	4.65 ▲	2.99	2.54	3.50	N/A

Balance Sheet Highlights

Metric	2025	2024	2023	2022	2021
Total Assets	$491.0B	$479.8B	$493.2B	$551.8B	N/A
Total Debt	$31.0B ↓	$45.1B	$59.1B	$37.9B	N/A
Working Capital	N/A •	N/A	N/A	N/A	N/A
Years to Pay Debt	3.50	7.60	11.66	5.27	N/A

Cash Flow Highlights

Metric	2025	2024	2023	2022	2021
Free Cash Flow	$8.8B ▲	$2.0B	$18.9B	$1.1B	N/A
Owner Earnings	$10.8B	$8.0B	$7.1B	$9.4B	N/A
CapEx % of Net Income	6.2%	10.4%	13.8%	13.5%	N/A

Income Statement

	2025	2024	2023	2022	2021
Tax Rate For Calcs	0	0	0	0
Net Income From Continuing Operation Net Minority Interest	8,852,000	5,942,000	5,067,000	7,183,000
Reconciled Depreciation	1,362,000	1,435,000	1,338,000	1,248,000
Net Interest Income	11,750,000	9,144,000	9,427,000	10,682,000
Interest Expense	3,754,000	6,393,000	6,684,000	1,545,000
Interest Income	15,504,000	15,537,000	16,111,000	12,227,000
Normalized Income	8,852,000	5,942,000	5,067,000	7,183,000
Net Income From Continuing And Discontinued Operation	8,852,000	5,942,000	5,067,000	7,183,000
Diluted Average Shares	1,809,000	1,834,000	1,831,000	1,894,000
Basic Average Shares	1,804,000	1,828,000	1,824,000	1,885,000
Diluted EPS	0	0	0	0
Basic EPS	0	0	0	0
Diluted NI Availto Com Stockholders	8,417,000	5,478,000	4,649,000	6,635,000
Net Income Common Stockholders	8,417,000	5,478,000	4,649,000	6,635,000
Preferred Stock Dividends	435,000	464,000	418,000	548,000
Net Income	8,852,000	5,942,000	5,067,000	7,183,000
Net Income Including Noncontrolling Interests	8,852,000	5,942,000	5,067,000	7,183,000
Net Income Continuous Operations	8,852,000	5,942,000	5,067,000	7,183,000
Tax Provision	2,607,000	1,750,000	1,311,000	2,205,000
Pretax Income	11,459,000	7,692,000	6,378,000	9,388,000
Depreciation Amortization Depletion Income Statement	1,362,000	1,435,000	1,338,000	1,248,000
Depreciation And Amortization In Income Statement	1,362,000	1,435,000	1,338,000	1,248,000
Amortization	512,000	519,000	534,000	596,000
Amortization Of Intangibles Income Statement	512,000	519,000	534,000	596,000
Depreciation Income Statement	850,000	916,000	804,000	652,000
Selling General And Administration	6,911,000	6,440,000	6,712,000	6,355,000
Selling And Marketing Expense	420,000	397,000	397,000	419,000
General And Administrative Expense	6,491,000	6,043,000	6,315,000	5,936,000
Other Gand A					862,000
Salaries And Wages	6,491,000	6,043,000	6,315,000	5,936,000
Total Revenue	23,921,000	19,606,000	18,837,000	20,762,000
Operating Revenue	23,921,000	19,606,000	18,837,000	20,762,000
Occupancy And Equipment	1,117,000	1,060,000	1,254,000	1,175,000
Professional Expense And Contract Services Expense	1,197,000	1,053,000	1,058,000	1,032,000
Other Non Interest Expense	1,875,000	1,926,000	2,097,000	1,564,000

Balance Sheet

	2025	2024	2023	2022	2021
Treasury Shares Number	315,864	242,977	250,678	221,033
Preferred Shares Number		54,000	54,000	54,000	54,000
Ordinary Shares Number	1,758,325	1,831,212	1,823,510	1,853,156
Share Issued	2,074,189	2,074,189	2,074,189	2,074,189
Net Debt		3,002,000	15,659,000
Total Debt	30,951,000	45,134,000	59,081,000	37,878,000
Tangible Book Value	23,478,000	19,490,000	11,556,000	6,162,000
Invested Capital	73,576,000	84,269,000	90,763,000	64,712,000
Net Tangible Assets	30,241,000	28,681,000	20,747,000	15,868,000
Capital Lease Obligations	37,000	49,000	85,000	68,000
Common Stock Equity	42,662,000	39,184,000	31,767,000	26,902,000
Preferred Stock Equity	6,763,000	9,191,000	9,191,000	9,706,000
Total Capitalization	71,576,000	70,761,000	67,001,000	57,368,000
Total Equity Gross Minority Interest	49,425,000	48,375,000	40,958,000	36,608,000
Stockholders Equity	49,425,000	48,375,000	40,958,000	36,608,000
Gains Losses Not Affecting Retained Earnings	-10,983,000	-14,848,000	-18,131,000	-22,621,000
Other Equity Adjustments	-10,983,000	-14,848,000	-18,131,000	-22,621,000
Treasury Stock	18,437,000	11,196,000	11,354,000	8,639,000
Retained Earnings	44,065,000	37,568,000	33,901,000	31,066,000
Additional Paid In Capital	27,996,000	27,639,000	27,330,000	27,075,000
Capital Stock	6,784,000	9,212,000	9,212,000	9,727,000
Common Stock	21,000	21,000	21,000	21,000
Preferred Stock	6,763,000	9,191,000	9,191,000	9,706,000
Total Liabilities Net Minority Interest	441,570,000	431,468,000	452,220,000	515,164,000
Derivative Product Liabilities	11,000	-7,000	0
Long Term Debt And Capital Lease Obligation	22,188,000	22,435,000	26,128,000	20,828,000
Long Term Capital Lease Obligation	37,000	49,000	85,000	68,000
Long Term Debt	22,151,000	22,386,000	26,043,000	20,760,000
Current Debt And Capital Lease Obligation	8,763,000	22,699,000	32,953,000	17,050,000
Current Debt	8,763,000	22,699,000	32,953,000	17,050,000
Other Current Borrowings	8,763,000	22,699,000	32,953,000	17,050,000
Payables And Accrued Expenses	142,030,000	114,895,000	91,434,000	97,438,000
Current Accrued Expenses				13,124,000	17,791,000
Payables	142,030,000	114,895,000	91,434,000	97,438,000
Accounts Payable	142,030,000	114,895,000	91,434,000	97,438,000
Total Assets	490,995,000	479,843,000	493,178,000	551,772,000
Investments And Advances	200,252,000	227,614,000	265,162,000	319,416,000
Held To Maturity Securities	132,699,000	140,533,000	155,749,000	168,552,000
Available For Sale Securities	5,477,000	4,465,000	3,500,000	3,034,000
Goodwill And Other Intangible Assets	19,184,000	19,694,000	20,211,000	20,740,000
Other Intangible Assets	7,233,000	7,743,000	8,260,000	8,789,000
Goodwill	11,951,000	11,951,000	11,951,000	11,951,000
Net PPE	3,796,000	3,929,000	4,320,000	4,608,000
Accumulated Depreciation	-4,967,000	-4,459,000	-3,756,000	-3,233,000
Gross PPE	8,763,000	8,388,000	8,076,000	7,841,000
Leases	371,000	411,000	411,000	472,000
Construction In Progress	90,000	205,000	213,000	274,000
Other Properties	1,065,000	932,000	1,010,000	1,245,000
Machinery Furniture Equipment	5,017,000	4,804,000	4,508,000	3,948,000
Buildings And Improvements	1,976,000	1,801,000	1,720,000	1,693,000
Land And Improvements	244,000	235,000	214,000	209,000
Receivables	115,523,000	90,931,000	75,370,000	71,241,000
Other Receivables	7,976,000	2,911,000	3,566,000	2,171,000
Accounts Receivable	107,547,000	88,020,000	71,804,000	69,070,000
Other Short Term Investments	62,076,000	82,616,000	105,913,000	147,830,000
Cash And Cash Equivalents	46,030,000	42,083,000	43,337,000	40,195,000
Cash Cash Equivalents And Federal Funds Sold	88,961,000	80,304,000	75,173,000	83,178,000

Cash Flow

	2025	2024	2023	2022	2021
Free Cash Flow	8,763,000	2,050,000	18,887,000	1,086,000
Repurchase Of Capital Stock	-9,804,000	0	-3,309,000	-4,395,000
Repayment Of Debt	-81,642,000	-63,954,000	-51,135,000	-22,240,000
Issuance Of Debt	67,392,000	50,018,000	72,297,000	36,366,000
Issuance Of Capital Stock		0	0	740,000	2,806,000
Capital Expenditure	-548,000	-620,000	-700,000	-971,000
Interest Paid Supplemental Data	4,557,000	6,655,000	5,623,000	1,355,000
Income Tax Paid Supplemental Data	1,575,000	1,491,000	1,620,000	2,130,000
End Cash Position	69,661,000	65,514,000	74,473,000	58,720,000
Beginning Cash Position	65,514,000	74,473,000	58,720,000	93,338,000
Changes In Cash	4,147,000	-8,959,000	15,753,000	-34,618,000
Financing Cash Flow	-29,702,000	-47,060,000	-61,245,000	-68,723,000
Cash Flow From Continuing Financing Activities	-29,702,000	-47,060,000	-61,245,000	-68,723,000
Net Other Financing Charges	-101,000	-101,000	-100,000	-94,000
Proceeds From Stock Option Exercised	156,000	84,000	49,000	64,000
Cash Dividends Paid	-2,329,000	-2,275,000	-2,276,000	-2,110,000
Net Preferred Stock Issuance	-2,458,000	0	-467,000	-260,000
Preferred Stock Payments	-2,458,000	0	-467,000	-1,000,000
Preferred Stock Issuance		0	0	740,000	2,806,000
Net Common Stock Issuance	-7,346,000	0	-2,842,000	-3,395,000
Common Stock Payments	-7,346,000	0	-2,842,000	-3,395,000
Net Issuance Payments Of Debt	-14,250,000	-13,936,000	21,162,000	14,126,000
Net Short Term Debt Issuance	862,000	-554,000	1,896,000	-209,000
Short Term Debt Payments	-36,184,000	-27,571,000	-15,104,000	-21,100,000
Short Term Debt Issuance	37,046,000	27,017,000	17,000,000	20,891,000
Net Long Term Debt Issuance	-15,112,000	-13,382,000	19,266,000	14,335,000
Long Term Debt Payments	-45,458,000	-36,383,000	-36,031,000	-1,140,000
Long Term Debt Issuance	30,346,000	23,001,000	55,297,000	15,475,000
Investing Cash Flow	24,538,000	35,431,000	57,411,000	32,048,000
Cash Flow From Continuing Investing Activities	24,538,000	35,431,000	57,411,000	32,048,000
Net Other Investing Changes	265,000	-18,000	-935,000	-544,000
Net Investment Purchase And Sale	37,628,000	40,856,000	58,947,000	39,351,000
Sale Of Investment	47,207,000	43,842,000	60,434,000	90,360,000
Purchase Of Investment	-9,579,000	-2,986,000	-1,487,000	-51,009,000
Net PPE Purchase And Sale	-548,000	-620,000	-700,000	-971,000
Purchase Of PPE	-548,000	-620,000	-700,000	-971,000
Operating Cash Flow	9,311,000	2,670,000	19,587,000	2,057,000
Cash Flow From Continuing Operating Activities	9,311,000	2,670,000	19,587,000	2,057,000
Change In Working Capital	-3,005,000	-6,211,000	11,808,000	-8,587,000
Change In Other Working Capital					-3,398,000
Change In Other Current Assets	-5,808,000	-13,998,000	22,190,000	-947,000
Change In Payables And Accrued Expense	26,943,000	23,679,000	-7,796,000	-31,759,000
Change In Accrued Expense	-192,000	218,000	3,048,000	-677,000
Change In Payable	27,135,000	23,461,000	-10,844,000	-31,082,000
Change In Account Payable	14,782,000	16,773,000	-12,652,000	-28,233,000
Change In Receivables	-24,140,000	-15,892,000	-2,586,000	24,119,000
Changes In Account Receivables	-19,390,000	-16,779,000	-2,135,000	23,947,000
Other Non Cash Items	729,000	552,000	702,000	490,000
Stock Based Compensation	317,000	337,000	320,000	366,000
Deferred Tax	361,000	-191,000	-478,000	-18,000
Deferred Income Tax	361,000	-191,000	-478,000	-18,000
Depreciation Amortization Depletion	1,362,000	1,435,000	1,338,000	1,248,000
Depreciation And Amortization	1,362,000	1,435,000	1,338,000	1,248,000
Amortization Cash Flow	512,000	519,000	534,000	596,000
Amortization Of Intangibles	512,000	519,000	534,000	596,000
Depreciation	850,000	916,000	804,000	652,000
Net Income From Continuing Operations	8,852,000	5,942,000	5,067,000	7,183,000

These metrics estimate what The Charles Schwab Corporation is worth based on its fundamentals — independent of what the market currently prices it at. Graham's Fair Value and NCAV are conservative floors rooted in 1930s–60s principles. EPV assumes zero growth. None are price targets — they are reference points for judging whether the current price offers a margin of safety.

Graham's Fair Value

$50.68

Margin of Safety

Market Cap ÷ Company Value

1.45

P/B Ratio

3.72

Warren's Owner Earnings

$10.8B

Latest fiscal year

Graham's 7 Criteria

Defensive Investor Checklist

3/6 — Speculative Investor

✅ Adequate Size

$23.9B

vs > $1.5B revenue

✅ Earnings Stability

No loss years (4 yrs data)

vs No negative EPS years

✅ Dividend Record

1.23%

vs Uninterrupted dividends

❌ Earnings Growth

+32.9% EPS growth

vs > 33% EPS growth

❌ Moderate P/E Ratio

18.1x

vs P/E ≤ 15.0x

❌ Moderate Price-to-Book

3.72x P/B (P/E×P/B: 67.4)

vs P/B ≤ 1.5x | P/E × P/B ≤ 22.5

Net Current Asset Value

N/A

"Buy at two-thirds of net current assets." — Graham

Earnings Power Value

N/A

Per share, no-growth floor. Compare to current price.

Cash Flow Analysis

Metric	2025	2024	2023	2022	2021
Capital Expenditure % of Net Income	6.2%	10.4%	13.8%	13.5%	N/A
Repurchase of Capital Stock	-$9.8B	$0M	-$3.3B	-$4.4B	N/A
Free Cash Flow	$8.8B ▲	$2.0B ▼	$18.9B ▲	$1.1B •	N/A •
Warren's Owner Earnings	$10.8B	$8.0B	$7.1B	$9.4B	N/A

Peers & Industry

No auto-detected peers for Capital Markets. You can manually compare SCHW against any stock using the Compare tool.

"The management of a business is its most important single factor — more important than market position, patents, or financial structure."

— Benjamin Graham

Capital Allocation & Alignment

Insider Ownership

6.17%

Moderate — some alignment with shareholders

Return on Equity (ROE)

20.7%

Excellent — management generates strong returns on equity

Return on Assets (ROA)

1.8%

Poor — assets are not generating adequate returns

Share Buybacks (Latest Year)

$9.8B

Management is returning capital to shareholders via buybacks

Debt Trend YoY

-31.4% YoY

Debt is declining — management is deleveraging

Leadership Team

Charles Robert Schwab

Founder & Co-Chairman

Age 88

Pay: $3,540,089

0.040% of net income

Richard Andrew Wurster , CMT

CEO, President & Director

Age 51

Pay: $6,067,650

0.069% of net income

Michael Daniel Verdeschi

MD & Chief Financial Officer

Age 56

Pay: $3,767,676

0.043% of net income

Top Institutional Holders

Institution	% Owned	Shares
Vanguard Group Inc	8.66%	150,528,952
Blackrock Inc.	7.72%	134,167,833
Dodge & Cox Inc.	4.40%	76,513,926
State Street Corporation	4.18%	72,626,508
JPMORGAN CHASE & CO	3.87%	67,190,915
Price (T.Rowe) Associates Inc	2.82%	49,096,235
Geode Capital Management, LLC	2.17%	37,667,640
FMR, LLC	1.95%	33,834,232

⚠️ Current ratio below 1 — liquidity risk

Risk Analysis

Beta (Market Risk)

0.80

Low volatility — more stable than the market

Short Interest

0.0% of float

Low short interest — market is not heavily bearish

Debt-to-Equity

0.67x

Conservative balance sheet — low financial risk

Current Ratio

0.62x

Weak liquidity — current liabilities exceed current assets

52-Week Price Range

Low: $82.04 Current: $91.25 High: $107.50

Currently at 36% of 52-week range

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