The Charles Schwab Corporation · SCHW-PJ · FY2025 Q4 · Calendar Q1 2026
Schwab enters 2026 with record results and a broad growth plan
Record results, strong client and asset flows, and multiple product initiatives support a constructive growth framework for 2026. The thesis depends on execution in alternatives, crypto, and AI, alongside disciplined management of rates, margins, and capital returns.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Management highlighted new growth initiatives around Forge and private investing, planned spot Bitcoin and Ethereum trading, expanded lending and wealth offerings, and more than 220 AI use cases. The 2026 outlook was maintained.
Guidance delta
Management maintained its outlook, targeting 9.5%-10.5% 2026 revenue growth, roughly 5% organic net-new-asset growth, and continued margin expansion into the low-50% range.
Key takeaways
- Management described 2025 as a record year, with growth driven by client acquisition, lending, trading, and wealth solutions.
- The strategy centers on attracting new clients and deepening relationships through wealth, lending, alternatives, and crypto.
- Planned initiatives include spot Bitcoin and Ethereum trading in the first half of 2026, alternatives expansion, and broader AI deployment.
- Capital return remains a priority, while rate sensitivity, competitive pricing, and execution are important watchpoints.
Management priorities
- Grow net-new assets through retail and advisor services.
- Expand pledged-asset-line and margin-lending products.
- Integrate Forge and broaden private-company and alternatives access.
- Launch crypto capabilities and scale AI use across service and technology operations.
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Try FN2 freeCompany context
Snapshot as of publicationThe Charles Schwab Corporation, together with its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, banking and trust, retirement plan, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor and mutual fund clearing services, as well as compliance solutions. The Advisor Services segment offers custodial, trading, banking, and support services; and retirement business and corporate brokerage retirement services.…
Historical context
All SCHW-PJ earningsFinancial Services peers this season
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|---|---|---|---|---|
| USB-PR U.S. Bancorp | FY2026 Q3 · Calendar Q4 2026 | — | — | U.S. Bancorp raises outlook as BTIG and fee growth lift Q3 |
| USB-PS U.S. Bancorp Depositary Shares, | FY2026 Q3 · Calendar Q4 2026 | — | — | U.S. Bancorp raises guidance as BTIG and fee growth support Q3 |
| FHN First Horizon Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +2.1% | First Horizon Repositions Assets to Support NIM and Growth |
| USB-PQ U.S. Bancorp | FY2026 Q3 · Calendar Q4 2026 | — | — | U.S. Bancorp raises guidance as fees and BTIG support growth |
| PNC The PNC Financial Services Group, Inc. | FY2026 Q3 · Calendar Q4 2026 | — | +0.3% | PNC Raises Full-Year Outlook as Loan and Fee Growth Accelerate |
| USB-PA U.S. Bancorp PERP PFD SER A | FY2026 Q3 · Calendar Q4 2026 | — | — | U.S. Bancorp raises 2026 outlook as BTIG and payments gain traction |
Latest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-15. For educational purposes only; not investment advice.