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Schwab Charles vs Raymond James Financial: SCHW and RJF compared
Schwab Charles is the larger company: $7.2B of revenue in its latest quarter (Q3 2026) against $4.7B for Raymond James Financial (Q4 FY26). Schwab Charles is growing faster (+17% against +13% a year earlier). Schwab Charles is more profitable, with an operating margin of 52.7% against 18.2%.
Where the money goes: SCHW and RJF
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.
Raymond James Financial (RJF) · Q4 FY26
Raymond James Financial, Q4 FY26: revenue $4.7B (+13% year over year), operating margin 18.2%, net earnings $666M. The chart follows the revenue to costs, profit and cash.
| Schwab Charles (SCHW) | Raymond James Financial (RJF) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q4 FY26 |
| Revenue | $7.2B | $4.7B |
| Revenue growth, Y/Y | +17% | +13% |
| Operating margin | 52.7% | 18.2% |
| Net earnings | $2.9B | $666M |
| Net margin | 40.5% | 14.1% |
| Operating cash flow | $1.6B | — |
| Free cash flow | $1.3B | — |
| Market value | $160.4B | $32.5B |
| P/E | 15.1× | 14.1× |
| Analysts’ mean target | $116.86 | $182.21 |
Where the revenue comes from
Schwab Charles
- Investor Services: $5.6B (79%)
- Advisor Services: $1.5B (21%)
Questions
Which is bigger, Schwab Charles or Raymond James Financial?
Schwab Charles is the larger company: $7.2B of revenue in its latest quarter (Q3 2026) against $4.7B for Raymond James Financial (Q4 FY26).
Is Schwab Charles or Raymond James Financial growing faster?
Schwab Charles is growing faster (+17% against +13% a year earlier).
Which is more profitable, Schwab Charles or Raymond James Financial?
Schwab Charles is more profitable, with an operating margin of 52.7% against 18.2%.
More: Schwab Charles earnings · how Schwab Charles makes money · Raymond James Financial earnings · how Raymond James Financial makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 8-K filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.