Financials Charles Schwab

Equities

SCHW

US8085131055

Investment Banking & Brokerage Services

Market Closed - Nyse Other stock markets 04:00:02 2025-12-08 pm EST			5-day change	1st Jan Change
94.28 ^USD	+0.49%		+1.72%	+27.39%

Dec. 07	Earnings calendar for week of December 8-12, 2025: Oracle, Adobe, Broadcom a trio to watch
Dec. 04	191,000 and Confused

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	23,669	26,236	29,042
Change	-	58.41%	12.11%	-9.27%	4.08%	20.72%	10.85%	10.7%
EBITDA ¹	5,346	9,960	11,624	9,146	9,772	13,540	14,968	16,635
Change	-	86.31%	16.71%	-21.32%	6.84%	38.56%	10.55%	11.14%
EBIT ¹	4,932	8,796	10,376	7,808	7,692	11,581	13,355	15,648
Change	-	78.35%	17.96%	-24.75%	-1.49%	50.56%	15.32%	17.18%
Interest Paid ¹	-289	-384	-	-	-6,393	-3,674	-2,515	-2,480
Earnings before Tax (EBT) ¹	4,300	7,713	9,388	6,378	7,692	11,462	13,042	15,001
Change	-	79.37%	21.72%	-32.06%	20.6%	49.02%	13.78%	15.02%
Net income ¹	3,043	5,360	6,635	4,649	5,478	8,318	9,384	10,596
Change	-	76.14%	23.79%	-29.93%	17.83%	51.85%	12.81%	12.91%
Announcement Date	1/19/21	1/18/22	1/18/23	1/17/24	1/21/25	-	-	-

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	6,179	6,231	6,421	6,516	6,637	6,656	6,869	7,000
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%	0.72%	0.84%	3.04%	1.49%	1.85%	0.29%	3.2%	1.9%
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	3,567	3,504	3,756	3,694	3,829	3,841	4,069	4,100
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%	2.29%	-1.77%	7.19%	-1.65%	3.65%	0.31%	5.94%	0.76%
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	3,093	2,970	3,198	-	-	-	-	-
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%	2.38%	-3.98%	7.67%	-	-	-	-	-
Charge d'intérêts ¹	-77	-85	-97	-123	-103	-108	-166	-131	-	-	-	-	-	-	-1,659	-1,706	-1,320	-1,051	-965	-906	-731	-652	-634	-577	-567	-	-	-
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	3,072	2,965	3,204	3,269	3,372	3,125	3,456	3,572
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%	1.68%	-3.47%	8.04%	2.04%	3.14%	-7.31%	10.59%	3.36%
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	2,267	2,204	2,358	2,400	2,483	2,295	2,541	2,622
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%	-0.45%	-2.79%	7.03%	1.74%	3.48%	-7.57%	10.72%	3.19%
Announcement Date	1/19/21	4/15/21	7/16/21	10/15/21	1/18/22	4/18/22	7/18/22	10/17/22	1/18/23	4/17/23	7/18/23	10/16/23	1/17/24	4/15/24	7/16/24	10/15/24	1/21/25	4/17/25	7/18/25	10/16/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Charles Schwab

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

Estimates

Cash Flow Forecast: Charles Schwab

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	631	916	971	804	607	632	894.5	1,014
Change	-	45.17%	6%	-17.2%	-24.5%	4.12%	41.53%	13.3%
Free Cash Flow (FCF) ¹	3,030	5,247	6,682	4,969	2,050	14,807	15,957	15,079
Change	-	73.17%	27.35%	-25.64%	-58.74%	622.29%	7.77%	-5.5%
Announcement Date	1/19/21	1/18/22	1/18/23	1/17/24	1/21/25	-	-	-

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%	57.2%	57.05%	57.28%
EBIT Margin (%)	42.19%	47.49%	49.98%	41.45%	39.23%	48.93%	50.9%	53.88%
EBT Margin (%)	36.78%	41.65%	45.22%	33.86%	39.23%	48.43%	49.71%	51.65%
Net margin (%)	26.03%	28.94%	31.96%	24.68%	27.94%	35.14%	35.77%	36.49%
FCF margin (%)	25.92%	28.33%	32.18%	26.38%	10.46%	62.56%	60.82%	51.92%
FCF / Net Income (%)	99.57%	97.89%	100.71%	106.88%	37.42%	178%	170.04%	142.31%
Profitability
ROA	0.72%	1.02%	1.21%	1.1%	1.23%	1.92%	1.97%	2.06%
ROE	9%	11%	18%	16%	15%	20.04%	19.07%	21%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	1.73x	0.31x	-	-	-
Debt / Free cash flow	-	-	-	3.18x	1.46x	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	5.4%	4.95%	4.68%	4.27%	3.1%	2.67%	3.41%	3.49%
CAPEX / EBITDA (%)	11.8%	9.2%	8.35%	8.79%	6.21%	4.67%	5.98%	6.09%
CAPEX / FCF (%)	20.83%	17.46%	14.53%	16.18%	29.61%	4.27%	5.61%	6.72%
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	1.231	1.454
Change	-	0%	16.67%	19.05%	0%	8%	14.01%	18.11%
Book Value Per Share ¹	31.12	31.02	20.31	22.4	26.89	26	29.96	31.19
Change	-	-0.34%	-34.51%	10.28%	20.04%	-3.32%	15.23%	4.13%
EPS ¹	2.12	2.83	3.5	2.54	2.99	4.627	5.391	6.371
Change	-	33.49%	23.67%	-27.43%	17.72%	54.74%	16.53%	18.17%
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	1/19/21	1/18/22	1/18/23	1/17/24	1/21/25	-	-	-