SCHWAB CHARLES CORP FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $23.9B |
| Gross margin | — not reported |
| Operating income | — not reported |
| Net income | $8.9B |
| Diluted EPS | $4.65 |
| Cash & equivalents | $46.0B |
| Total assets | $491.0B |
| Long-term debt | $22.2B |
Key takeaway
Schwab reported a strong 2025 with net revenue up 22% to $23.9 billion and net income up 49% to $8.85 billion.
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Beneath the surface
Despite $46 billion in cash and equivalents, Schwab carries $22.2 billion in long-term debt plus $1.9 billion commercial paper, but this is dwarfed by $255.7 billion in customer deposits, its primary funding source, making traditional net-debt framing less meaningful for a bank holding company.
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This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for SCHW.
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