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BlackRock vs Schwab Charles: BLK and SCHW compared
BlackRock is the larger company: $7.8B of revenue in its latest quarter (Q3 2026) against $7.2B for Schwab Charles (Q3 2026). BlackRock is growing faster (+19% against +17% a year earlier). Schwab Charles is more profitable, with an operating margin of 52.7% against 30.0%.
Where the money goes: BLK and SCHW
BlackRock (BLK) · Q3 2026
BlackRock, Q3 2026: revenue $7.8B (+19% year over year), operating margin 30.0%, net earnings $1.7B, operating cash flow $2.7B. The chart follows the revenue to costs, profit and cash.
Schwab Charles (SCHW) · Q3 2026
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 follows the revenue to costs, profit and cash.
| BlackRock (BLK) | Schwab Charles (SCHW) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $7.8B | $7.2B |
| Revenue growth, Y/Y | +19% | +17% |
| Operating margin | 30.0% | 52.7% |
| Net earnings | $1.7B | $2.9B |
| Net margin | 21.4% | 40.5% |
| Operating cash flow | $2.7B | $1.6B |
| Free cash flow | $2.6B | $1.3B |
| Market value | $192.6B | $160.4B |
| P/E | 26.7× | 15.1× |
| Analysts’ mean target | $1361.06 | $116.86 |
Where the revenue comes from
BlackRock
- Investment Advice: $6.0B (78%)
- Investment Performance: $630M (8%)
- Technology Services and Subscription Revenue: $588M (8%)
- Distribution and Shareholder Service: $414M (5%)
Schwab Charles
- Investor Services: $5.6B (79%)
- Advisor Services: $1.5B (21%)
Questions
Which is bigger, BlackRock or Schwab Charles?
BlackRock is the larger company: $7.8B of revenue in its latest quarter (Q3 2026) against $7.2B for Schwab Charles (Q3 2026).
Is BlackRock or Schwab Charles growing faster?
BlackRock is growing faster (+19% against +17% a year earlier).
Which is more profitable, BlackRock or Schwab Charles?
Schwab Charles is more profitable, with an operating margin of 52.7% against 30.0%.
More: BlackRock earnings · how BlackRock makes money · Schwab Charles earnings · how Schwab Charles makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 4, 2026; 10-Q filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.