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How Schwab Charles (SCHW) makes money
Schwab Charles (SCHW) made $7.2B of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. Investor Services brought in $5.6B (79%); Advisor Services brought in $1.5B (21%). Of every dollar of revenue, 53¢ was left as operating profit, 41¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Investor Services | $5.6B | 78.7% | +2% | +16% |
| Advisor Services | $1.5B | 21.3% | -1% | +22% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $7.2B | 100.0% |
| Operating profit | $3.8B | 52.7% |
| Income tax | $871M | 12.1% |
| Net earnings | $2.9B | 40.5% |
| Operating cash flow | $1.6B | 22.5% |
| Free cash flow | $1.3B | 18.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $7.2B | +17% |
| Q2 2026 | $7.1B | +21% |
| Q1 2026 | $6.5B | +16% |
| Q4 2025 | $6.3B | +19% |
| Q3 2025 | $6.1B | +27% |
| Q2 2025 | $5.9B | +25% |
| Q1 2025 | $5.6B | +18% |
From Schwab Charles' 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does Schwab Charles make money?
Schwab Charles (SCHW) made $7.2B of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. Investor Services brought in $5.6B (79%); Advisor Services brought in $1.5B (21%). Of every dollar of revenue, 53¢ was left as operating profit, 41¢ was left as net earnings.
What is Schwab Charles' biggest business?
Investor Services: $5.6B in the third quarter 2026, 79% of revenue, +16% from a year earlier.
What is Schwab Charles' profit margin?
Net earnings were $2.9B, 40.5% of revenue, in the third quarter 2026; the operating margin was 52.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.