Financials The Charles Schwab Corporation Nyse

Equities

SCHW.PRBCL

US8085132046

Investment Banking & Brokerage Services

Delayed Nyse Other stock markets			5-day change	1st Jan Change
- ^USD	-.--%		-0.04%	-1.15%

05-31	Raymond James Adjusts Price Target on Charles Schwab to $80 From $78	MT
05-31	JPMorgan Adjusts Price Target on Charles Schwab to $81 From $89	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	61,095	99,666	158,999	155,425	125,446	133,969	-	-
Enterprise Value (EV) ¹	36,895	49,166	119,799	153,125	141,246	134,389	152,270	150,111
P/E ratio	17.8 x	25 x	29.7 x	23.8 x	27.1 x	23.9 x	18.2 x	15.1 x
Yield	1.43%	1.36%	0.86%	1.01%	1.45%	1.38%	1.57%	1.64%
Capitalization / Revenue	5.7 x	8.53 x	8.59 x	7.49 x	6.66 x	6.78 x	5.92 x	5.42 x
EV / Revenue	3.44 x	4.21 x	6.47 x	7.38 x	7.5 x	6.81 x	6.73 x	6.07 x
EV / EBITDA	7.1 x	9.2 x	12 x	13.2 x	15.4 x	12.6 x	12.4 x	10.6 x
EV / FCF	4.28 x	16.2 x	22.8 x	22.9 x	-	14.3 x	12 x	15.1 x
FCF Yield	23.4%	6.16%	4.38%	4.36%	-	7.01%	8.32%	6.64%
Price to Book	2.81 x	1.7 x	2.71 x	4.1 x	3.07 x	3.1 x	3.09 x	2.88 x
Nbr of stocks (in thousands)	1,284,579	1,879,078	1,890,600	1,866,739	1,823,343	1,828,175	-	-
Reference price ²	47.56	53.04	84.10	83.26	68.80	73.28	73.28	73.28
Announcement Date	20-01-16	21-01-19	22-01-18	23-01-18	24-01-17	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	10,721	11,691	18,520	20,762	18,837	19,747	22,629	24,723
EBITDA ¹	5,197	5,346	9,960	11,624	9,146	10,657	12,296	14,136
EBIT ¹	4,848	4,932	8,796	10,376	7,808	8,280	10,496	12,015
Operating Margin	45.22%	42.19%	47.49%	49.98%	41.45%	41.93%	46.38%	48.6%
Earnings before Tax (EBT) ¹	4,848	4,300	7,713	9,388	6,378	7,977	10,202	11,818
Net income ¹	3,526	3,043	5,360	6,635	4,649	5,557	7,327	8,355
Net margin	32.89%	26.03%	28.94%	31.96%	24.68%	28.14%	32.38%	33.8%
EPS ²	2.670	2.120	2.830	3.500	2.540	3.070	4.034	4.842
Free Cash Flow ¹	8,617	3,030	5,247	6,682	-	9,414	12,669	9,965
FCF margin	80.37%	25.92%	28.33%	32.18%	-	47.67%	55.99%	40.31%
FCF Conversion (EBITDA)	165.81%	56.68%	52.68%	57.48%	-	88.34%	103.04%	70.49%
FCF Conversion (Net income)	244.38%	99.57%	97.89%	100.71%	-	169.41%	172.9%	119.27%
Dividend per Share ²	0.6800	0.7200	0.7200	0.8400	1.000	1.014	1.147	1.203
Announcement Date	20-01-16	21-01-19	22-01-18	23-01-18	24-01-17	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	4,708	4,672	5,093	5,500	5,497	5,116	4,656	4,606	4,459	4,740	4,826	4,970	5,179	5,346	5,723
EBITDA ¹	2,577	2,393	2,835	3,249	3,147	2,655	2,280	2,236	1,975	2,296	2,446	2,413	2,822	3,116	3,358
EBIT ¹	2,278	2,089	2,522	2,930	2,835	2,343	1,955	1,903	1,607	1,938	1,977	2,168	2,301	-	-
Operating Margin	48.39%	44.71%	49.52%	53.27%	51.57%	45.8%	41.99%	41.32%	36.04%	40.89%	40.96%	43.62%	44.43%	-	-
Earnings before Tax (EBT) ¹	2,023	1,839	2,274	2,677	2,598	2,110	1,691	1,383	1,194	1,798	1,831	2,019	2,233	2,400	2,670
Net income ¹	1,449	1,278	1,652	1,884	1,821	1,533	1,173	1,017	926	1,251	1,248	1,366	1,554	1,695	1,884
Net margin	30.78%	27.35%	32.44%	34.25%	33.13%	29.96%	25.19%	22.08%	20.77%	26.39%	25.85%	27.49%	30.01%	31.7%	32.92%
EPS ²	0.7600	0.6700	0.8700	0.9900	0.9700	0.8300	0.6400	0.5600	0.5100	0.6800	0.7011	0.7962	0.8896	0.9246	1.040
Dividend per Share ²	0.1800	0.2000	0.2000	0.2200	0.2200	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500	0.2500	0.3233	0.3350
Announcement Date	22-01-18	22-04-18	22-07-18	22-10-17	23-01-18	23-04-17	23-07-18	23-10-16	24-01-17	24-04-15	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	15,800	420	18,301	16,143
Net Cash position ¹	24,200	50,500	39,200	2,300	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	1.728 x	0.0394 x	1.488 x	1.142 x
Free Cash Flow ¹	8,617	3,030	5,247	6,682	-	9,414	12,669	9,965
ROE (net income / shareholders' equity)	19%	9%	11%	18%	16%	15.3%	17.1%	19.7%
ROA (Net income/ Total Assets)	1.19%	0.72%	1.02%	1.21%	1.1%	1.67%	1.58%	1.61%
Assets ¹	295,260	421,497	527,871	547,578	423,098	333,407	464,744	518,960
Book Value Per Share ²	16.90	31.10	31.00	20.30	22.40	23.60	23.70	25.40
Cash Flow per Share	7.060	4.770	1.120	1.090	-	-	-	-
Capex ¹	708	631	916	971	804	640	779	869
Capex / Sales	6.6%	5.4%	4.95%	4.68%	4.27%	3.24%	3.44%	3.51%
Announcement Date	20-01-16	21-01-19	22-01-18	23-01-18	24-01-17	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for The Charles Schwab Corporation

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

73.28 USD

Average target price

78.65 USD

Spread / Average Target

+7.33%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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