Filing Flows › Schwab Charles (SCHW) › Q3 2026 › vs Q3 2025
Schwab Charles (SCHW) Q3 2026 vs Q3 2025 (year over year)
Schwab Charles's revenue rose $1.0B (+17%) from $6.1B in Q3 2025 to $7.2B in Q3 2026. The biggest changes: Investor Services +$760M (+16%); Advisor Services +$276M (+22%). Operating margin 52.7% against 49.2% (+3.4 pts).
Schwab Charles, Q3 2026: revenue $7.2B (+17% year over year), operating margin 52.7%, net earnings $2.9B, operating cash flow $1.6B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 52.7% | 49.2% | +3.4 pts |
| Net margin | 40.5% | 38.4% | +2.1 pts |
| Free cash flow margin | 18.1% | 6.4% | +11.7 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Investor Services | $5.6B | $4.9B | $760M | +16% |
| Advisor Services | $1.5B | $1.3B | $276M | +22% |
| Revenue | $7.2B | $6.1B | $1.0B | +17% |
| Operating profit | $3.8B | $3.0B | $756M | +25% |
| Costs & expenses | $3.4B | $3.1B | $280M | +9% |
| Pre-tax earnings | $3.8B | $3.0B | $756M | +25% |
| Sales & marketing | $114M | $101M | $13.0M | +13% |
| Other operating costs | $3.3B | $3.0B | $267M | +9% |
| Net earnings | $2.9B | $2.4B | $548M | +23% |
| Income tax | $871M | $663M | $208M | +31% |
| Share-based compensation | $65.0M | $61.0M | $4.0M | +7% |
| Working capital & other | $1.4B | $1.9B | −$524M | -28% |
| Operating cash flow | $1.6B | $538M | $1.1B | +200% |
| Free cash flow (OCF − capex) | $1.3B | $393M | $907M | +231% |
| Capital expenditures | $314M | $145M | $169M | +117% |
Questions
How much did Schwab Charles's revenue grow year over year in Q3 2026?
Schwab Charles's revenue rose $1.0B (+17%) from $6.1B in Q3 2025 to $7.2B in Q3 2026.
What drove Schwab Charles's revenue change in Q3 2026?
Investor Services +$760M (+16%); Advisor Services +$276M (+22%).