Filing Flows › Schwab Charles (SCHW) › Q2 2026 › vs Q2 2025
Schwab Charles (SCHW) Q2 2026 vs Q2 2025 (year over year)
Schwab Charles's revenue rose $1.2B (+21%) from $5.9B in Q2 2025 to $7.1B in Q2 2026. The biggest changes: Investor Services +$893M (+19%); Advisor Services +$328M (+27%). Operating margin 51.9% against 47.9% (+4.0 pts).
Schwab Charles, Q2 2026: revenue $7.1B (+21% year over year), operating margin 51.9%, net earnings $2.8B, operating cash flow $4.3B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 51.9% | 47.9% | +4.0 pts |
| Net margin | 39.6% | 36.3% | +3.3 pts |
| Free cash flow margin | 58.2% | 52.1% | +6.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Investor Services | $5.5B | $4.6B | $893M | +19% |
| Advisor Services | $1.5B | $1.2B | $328M | +27% |
| Revenue | $7.1B | $5.9B | $1.2B | +21% |
| Operating profit | $3.7B | $2.8B | $866M | +31% |
| Costs & expenses | $3.4B | $3.0B | $355M | +12% |
| Pre-tax earnings | $3.7B | $2.8B | $866M | +31% |
| Sales & marketing | $111M | $108M | $3.0M | +3% |
| Other operating costs | $3.3B | $2.9B | $352M | +12% |
| Net earnings | $2.8B | $2.1B | $674M | +32% |
| Income tax | $869M | $677M | $192M | +28% |
| Share-based compensation | $92.0M | $72.0M | $20.0M | +28% |
| Working capital & other | $1.4B | $979M | $429M | +44% |
| Operating cash flow | $4.3B | $3.2B | $1.1B | +35% |
| Free cash flow (OCF − capex) | $4.1B | $3.0B | $1.1B | +35% |
| Capital expenditures | $185M | $128M | $57.0M | +45% |
Questions
How much did Schwab Charles's revenue grow year over year in Q2 2026?
Schwab Charles's revenue rose $1.2B (+21%) from $5.9B in Q2 2025 to $7.1B in Q2 2026.
What drove Schwab Charles's revenue change in Q2 2026?
Investor Services +$893M (+19%); Advisor Services +$328M (+27%).