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Data as of Q3 2026
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What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 27% of free cash flow, leaving room to grow it and fund buybacks. Last year: $2.33B dividends + $7.35B buybacks = $9.68B returned on $8.76B FCF.
1 consecutive years of dividend increases · 15%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 18%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $46.03B (at 2025-12-31) covers all $13.35B of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2026-06-30 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $23.92B 100.0% | $19.61B 100.0% | $18.84B 100.0% | $20.76B 100.0% | $18.52B 100.0% | $11.69B 100.0% | $10.72B 100.0% | $10.13B 100.0% | $8.62B 100.0% | $7.48B 100.0% |
| Interest Expense | — | — | $6.68B 35.5% | $1.54B 7.4% | $476.0M 2.6% | $418.0M 3.6% | $1.06B 9.9% | $857.0M 8.5% | $342.0M 4.0% | $171.0M 2.3% |
| Interest & Investment Income | $224.0M 0.9% | $136.0M 0.7% | $127.0M 0.7% | $22.0M 0.1% | $6.0M 0.0% | $6.0M 0.1% | $14.0M 0.1% | — | — | — |
| Pretax Income | $11.46B 47.9% | $7.69B 39.2% | $6.38B 33.9% | $9.39B 45.2% | $7.71B 41.6% | $4.30B 36.8% | $4.85B 45.2% | $4.56B 45.0% | $3.65B 42.4% | $2.99B 40.0% |
| Income Tax Expense | $2.61B 10.9% | $1.75B 8.9% | $1.31B 7.0% | $2.21B 10.6% | $1.86B 10.0% | $1.00B 8.6% | $1.14B 10.7% | $1.05B 10.4% | $1.30B 15.0% | $1.10B 14.8% |
| Net Income | $8.9M 0.0% | $5.9M 0.0% | $5.1M 0.0% | $7.2M 0.0% | $5.9M 0.0% | $3.30B 28.2% | $3.70B 34.5% | $3.51B 34.6% | $2.35B 27.3% | $1.89B 25.3% |
| Per Share | ||||||||||
| EPS (Basic) | $4.67 | $3.00 | $2.55 | $3.52 | $2.84 | $2.13 | $2.69 | $2.47 | $1.63 | $1.32 |
| EPS (Diluted) | $4.65 | $2.99 | $2.54 | $3.50 | $2.83 | $2.12 | $2.67 | $2.45 | $1.61 | $1.31 |
| Weighted Avg Shares (Basic) | 1.80B | 1.83B | 1.82B | 1.89B | 1.89B | 1.43B | 1.31B | 1.35B | 1.34B | 1.32B |
| Weighted Avg Shares (Diluted) | 1.81B | 1.83B | 1.83B | 1.89B | 1.90B | 1.44B | 1.32B | 1.36B | 1.35B | 1.33B |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
No current price collected.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 18% against ROIC 18% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Income Tax | 10.4 | 10.7 | 8.6 | 10.0 | 10.6 | 7.0 | 8.9 | 10.9 |
| Net Income | 34.6 | 34.5 | 28.2 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on SCHW-PJ: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | not reported | not reported | 25.3% |
| FY2017 | not reported | not reported | 27.3% |
| FY2018 | not reported | not reported | 34.6% |
| FY2019 | not reported | not reported | 34.5% |
| FY2020 | not reported | not reported | 28.2% |
| FY2021 | not reported | not reported | 31.6% |
| FY2022 | not reported | not reported | 34.6% |
| FY2023 | not reported | not reported | 26.9% |
| FY2024 | not reported | not reported | 30.3% |
| FY2025 | not reported | not reported | 37.0% |
Return on equity (18%) and return on invested capital (18%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: beta, market_cap.
Converts 1.08x of reported profit into free cash flow over 5 years, with accruals negative.
Shares outstanding are up 38% since FY2019 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
No debt, so there is no leverage path to distress.
Ladder as of 2026-06-30 (10-Q); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
No current price or share count, so the market's assumption cannot be solved for.
No material counter-signal in the checked set: reverse-DCF implied growth, historical FCF CAGR, per-year FCF growth distribution, reporting-basis breaks, discount rate used, free-cash-flow basis (stock comp charged?).
Missing from our data, so excluded from this answer: market_cap.
| Step | Amount | Running total |
|---|---|---|
| Net income | $8.85B | $8.85B |
| Share-based comp | $317M | $9.17B |
| Other non-cash & working capital | $142M | $9.31B |
| Operating cash flow | $9.31B | $9.31B |
| Capex | −$548M | $8.76B |
| Free cash flow | $8.76B | $8.76B |
| FCF after SBC | $8.45B | $8.45B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 9.1% | not reported | not reported |
| FY2021 | 58.4% | not reported | not reported |
| FY2022 | 12.1% | not reported | not reported |
| FY2023 | -9.3% | not reported | not reported |
| FY2024 | 4.1% | not reported | not reported |
| FY2025 | 22.0% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -1.9 percent |
| FY2020 | -0.7 percent |
| FY2021 | 0.6 percent |
| FY2022 | 0.9 percent |
| FY2023 | -2.9 percent |
| FY2024 | 0.7 percent |
| FY2025 | -0.1 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-29 | 2 co-filers Co-Chairman | Open-market saleindirect | 136,400 | $89.50 | $12.2m |
| 2026-10-28 | 2 co-filers Co-Chairman | Open-market saleindirect | 66,750 | $88.36 | $5.9m |
| 2026-10-01 | Ruffel Charles A. Director | Grant | 1,222 | $0.00 | — |
| 2026-10-01 |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
Brown Marianne Catherine Director |
| Grant |
| 407 |
| — |
| — |
| 2026-10-01 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | Option exercise | 5,000 | $41.98 | $210k |
| 2026-10-01 | Ellis Stephen A Director | Grant | 369 | — | — |
| 2026-10-01 | Herringer Frank C Director | Grant | 445 | — | — |
| 2026-10-01 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | 10b5-1 plan saleindirect | 5,000 | $97.80 | $489k |
| 2026-10-01 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | Option exercise | 5,000 | $0.00 | — |
| 2026-09-23 | 2 co-filers Group filing | Option exercise | 1,918 | $31.48 | $60k |
| 2026-09-23 | 2 co-filers Group filing | Option exercise | 1,918 | $0.00 | — |
| 2026-09-01 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | Option exercise | 3,177 | $52.05 | $165k |
| 2026-09-01 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | 10b5-1 plan saleindirect | 3,177 | $109.04 | $346k |
| 2026-09-01 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | Option exercise | 3,177 | $0.00 | — |
| 2026-08-28 | 3 co-filers Co-Chairman | Option exerciseindirect | 74,388 | $46.81 | $3.5m |
| 2026-08-28 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | Option exercise | 3,177 | $52.05 | $165k |
| 2026-08-28 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | 10b5-1 plan saleindirect | 3,177 | $108.12 | $343k |
| 2026-08-28 | 3 co-filers Co-Chairman | Exercise & sellindirect | 74,388 | $110.91 | $8.3m |
| 2026-08-28 | 3 co-filers MD, Head Wealth Adv, Bnk, Tst | Option exercise | 3,177 | $0.00 | — |
| 2026-08-28 | 3 co-filers Co-Chairman | Option exercise | 74,388 | $0.00 | — |
| 2026-08-27 | Schwab Charles R. Co-Chairman | Giftindirect | 9,300 | $0.00 | $0 |
| 2026-08-26 | Schwab-Pomerantz Carolyn Director | Open-market saleindirect | 9,175 | $109.25 | $1.0m |
| 2026-08-24 | 3 co-filers Co-Chairman | Option exerciseindirect | 176,210 | $46.81 | $8.2m |
| 2026-08-24 | Schwab Charles R. Co-Chairman | Open-market saleindirect | 117,000 | $113.20 | $13.2m |
| 2026-08-24 | 3 co-filers Co-Chairman | Exercise & sellindirect | 176,210 | $113.49 | $20.0m |
| 2026-08-24 | 3 co-filers Co-Chairman | Option exercise | 176,210 | $0.00 | — |
| 2026-08-18 | 2 co-filers Co-Chairman | Giftindirect | 54,550 | $0.00 | $0 |
| 2026-08-17 | 2 co-filers Co-Chairman | Giftindirect | 45,500 | $0.00 | $0 |
| 2026-08-17 | Beatty Jonathan S MD, Head of Advisor Services | Open-market saleindirect | 1,000 | $111.33 | $111k |
| 2026-08-14 | 3 co-filers MD, Head of Retail Investing | Option exercise | 21,866 | $46.81 | $1.0m |
| 2026-08-14 | 3 co-filers MD, Head of Retail Investing | 10b5-1 plan saleindirect | 21,866 | $111.03 | $2.4m |
| 2026-08-14 | 3 co-filers MD, Head of Retail Investing | Option exercise | 21,866 | $0.00 | — |
| 2026-08-13 | Howard Dennis MD, Chief Tech, OPS & Data Off | 10b5-1 plan sale | 2,198 | $110.00 | $242k |
| 2026-08-12 | Schwab Charles R. Co-Chairman | Open-market saleindirect | 46,410 | $108.18 | $5.0m |
| 2026-08-11 | Schwab Charles R. Co-Chairman | Open-market saleindirect | 46,445 | $107.78 | $5.0m |
| 2026-08-10 | 6 co-filers Chief Risk Officer | Option exercise | 24,778 | $46.81 | $1.2m |
| 2026-08-10 | 6 co-filers Chief Risk Officer | 10b5-1 plan sale | 24,778 | $109.01 | $2.7m |
| 2026-08-10 | 6 co-filers Chief Risk Officer | Option exercise | 24,778 | $0.00 | — |
| 2026-08-07 | Sneed Paula A Director | Open-market saleindirect | 5,263 | $107.15 | $564k |
| 2026-08-06 | Schwab Charles R. Co-Chairman | Giftindirect | 37,200 | $0.00 | $0 |