The Charles Schwab Corporation Revenue & Financials

Charles Schwab's financial profile entering 2025 reflects a company that has navigated a challenging interest rate cycle and emerged with its fundamental economics intact, even as the path through 2022 and 2023 tested investor patience. In fiscal year 2024, Schwab reported total net revenues of approximately $18.8 billion, recovering from the $18.8 billion reported in 2023 but still below the $20.8 billion peak achieved in fiscal year 2022, when rapidly rising interest rates temporarily inflated NII. Net income attributable to common stockholders came in at approximately $5.1 billion for full-year 2024, translating to diluted earnings per share of approximately $2.62. The company's return on equity remained in the mid-teens, consistent with historical norms but below the elevated returns achieved in the 2021-2022 rate environment. The balance sheet as of year-end 2024 reflected meaningful progress in reducing the supplemental borrowings that had been a source of investor concern through 2023. Total assets at Charles Schwab Bank declined from their peak as management allowed maturing securities to run off without full reinvestment, shrinking the bank's held-to-maturity portfolio and reducing interest rate risk. The company maintained strong regulatory capital ratios throughout. Client asset metrics provided the most compelling evidence of the franchise's underlying health: total client assets reached approximately $9.9 trillion in early 2025, with net new assets gathering at a pace of approximately $300 billion to $400 billion annually. The company's stock, SCHW, traded approximately 30 to 40 percent below its early 2022 peak entering 2025, creating what many analysts characterized as a valuation opportunity for investors who believed in the long-term normalization thesis. The company resumed share repurchases in late 2024 after pausing buybacks during the liquidity-management period.