Schwab Charles Corp

Company facts

Industry

Security Brokers, Dealers & Flotation Companies

Headquarters

Westlake, Texas

Most recent report

10-Q, filed Nov 6, 2026

Incorporated

Delaware

Filings on record

1,002+ filings

On EDGAR

CIK 316709

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 4 of 13 sections worth reading, with 1 positive, 14 notable, and 3 negative flags.

• Management's Discussion (Item 2)

  Full MD&A with segment results, interest rate sensitivity, liquidity, and capital details.
  Notable

  • Issued $5.85B in new Senior Notes in 2026; redeemed $2.1B Series I preferred; issued $1.5B Series L preferred.
  • Common dividend raised 19% to $0.32/share in Q1 2026; $3.9B in buybacks YTD; $10.6B remaining on authorization.
  • Acquired Forge Global for $636M cash in March 2026; integration costs were $49M YTD.
  • Launched spot crypto trading (bitcoin/ether) in May 2026; custodian is CSPB with Paxos sub-custodian.
  • Net interest margin rose to 3.04% in Q3 2026 from 2.88% a year ago, driven by lending growth.
  • SEC reinstated securities transaction fee in April 2026; increases both other revenue and other expense with no net income impact.
  • Capital expenditures surged to $1.3B YTD 2026 from $444M, including a $633M multi-year software license.
  • CS&Co issued $7.5B commercial paper by Q3 2026 under new $10B program; $7.9B total CP outstanding at CSC/CS&Co.
  • TD Bank sold all its CSC shares in Feb 2025; Schwab repurchased 19.2M nonvoting shares for $1.5B.
  • Foreign exposure $10.9B at Q3 2026; top countries France $4.8B, UK $4.1B, Canada $812M.

• Financial Statements (Item 1)

  Financial statements and notes with acquisition, debt, and securities details.
  Notable

  • Completed Forge acquisition for $636M in Q1 2026, adding $339M goodwill and $320M intangible assets.
  • IDA balance fell to $68.1B from $76.3B at Dec 2025; Schwab moved $3B to its balance sheet in 2026.
  • Notional of cash flow hedge interest rate swaps surged to $82.6B from $18.7B at Dec 2025.

• Risk Factors (Item 1A)

  New crypto risk disclosures with specific sub-custodian dependency and insolvency exposure.
  Notable

  • Accounting for crypto is unsettled; changes could increase earnings volatility and affect regulatory capital.
  Negative

  • Schwab's crypto custody depends on one sub-custodian; its failure could cause unrecoverable client losses and expose Schwab to liability.
  • Sub-custodian may lack funds to cover losses; Schwab could be liable for more than it can recover.
  • Untested legal treatment of crypto in bankruptcy could delay or reduce client access to assets, triggering claims against Schwab.

• Unregistered Sales and Repurchases (Item 2)

  New $20B buyback authorization and actual repurchases in September 2026.
  Positive

  • New $20.0B buyback authorization with no expiration date, replacing prior plan.

What changed: Sep 2026 vs. Jun 2026

About 2% of SCHW's Sep 2026 10-Q is new information. 15 paragraphs were added, 218 changed, and 25 removed. Below are the most important lines SECSift identified.

• Item 2 88
• Item 1 86
• Item 5 6
• Item 4 2
• Item 6 1