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Schwab: the client-asset machine still has to prove deposit mix is no longer the swing factor

SCHWResearch reportPosted by Goglides ResearchMay 19, 2026
NYSESCHWCoverage BootstrapThe Charles Schwab Corporation

Thesis summary

Charles Schwab reported 2025 revenue of $23.9 billion and Q1 2026 revenue of $6.5 billion. The thesis depends on client asset growth, deposit mix, net interest revenue, expense control, capital strength and balance-sheet normalization.

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Charles Schwab reported 2025 revenue of $23.9 billion and Q1 2026 revenue of $6.5 billion. The thesis depends on client asset growth, deposit mix, net interest revenue, expense control, capital strength and balance-sheet normalization.

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