Latest Ratios: P/E Ratio 21.6x · EV/EBITDA 10.7x · ROE 18.1%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $176.3B | $177.5B | $135.7B | $126.0B | $157.7B | $159.5B | $76.1B | $62.8B | $56.5B | $69.5B | $52.7B |
| Enterprise Value | $161.2B | $162.5B | $138.8B | $141.7B | $155.4B | $120.3B | $49.4B | $40.9B | $35.5B | $75.0B | $44.7B |
| P/E Ratio → | 21.59 | 21.44 | 24.75 | 27.09 | 23.79 | 29.72 | 25.02 | 17.81 | 16.95 | 31.91 | 30.13 |
| P/S Ratio | 6.37 | 6.42 | 5.22 | 4.94 | 7.07 | 8.40 | 6.29 | 5.33 | 5.14 | 7.76 | 6.88 |
| P/B Ratio | 3.62 | 3.59 | 2.81 | 3.08 | 4.31 | 2.84 | 1.36 | 2.89 | 2.73 | 3.75 | 3.21 |
| P/FCF | 20.12 | 20.26 | 66.21 | 6.67 | 145.21 | 132.73 | 12.23 | 7.29 | 4.76 | — | 16.17 |
| P/OCF | 18.93 | 19.07 | 50.84 | 6.43 | 76.66 | 75.32 | 11.11 | 6.73 | 4.54 | — | 14.61 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.87 | 5.34 | 5.55 | 6.97 | 6.33 | 4.08 | 3.47 | 3.23 | 8.37 | 5.84 |
| EV / EBITDA | 10.72 | 10.80 | 15.21 | 18.37 | 14.61 | 13.56 | 10.07 | 7.86 | 7.28 | 19.15 | 13.85 |
| EV / EBIT | 11.79 | 11.88 | 18.04 | 22.22 | 16.55 | 15.60 | 11.49 | 8.43 | 7.77 | 20.56 | 14.94 |
| EV / FCF | — | 18.54 | 67.70 | 7.50 | 143.07 | 100.11 | 7.94 | 4.74 | 2.98 | — | 13.72 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 80.3% | 80.3% | 75.4% | 73.8% | 93.1% | 97.5% | 96.5% | 91.0% | 92.2% | 96.2% | 97.8% |
| Operating Margin | 49.4% | 49.4% | 29.6% | 25.0% | 42.1% | 40.6% | 35.5% | 41.1% | 41.5% | 40.7% | 39.1% |
| Net Profit Margin | 32.0% | 32.0% | 22.9% | 19.9% | 32.2% | 30.8% | 27.2% | 31.4% | 31.9% | 26.3% | 24.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.1% | 18.1% | 13.3% | 13.1% | 15.5% | 10.4% | 8.5% | 17.5% | 17.9% | 13.5% | 12.7% |
| ROA | 1.8% | 1.8% | 1.2% | 1.0% | 1.2% | 1.0% | 0.8% | 1.3% | 1.3% | 1.0% | 0.9% |
| ROIC | 11.8% | 11.8% | 6.0% | 5.5% | 9.1% | 7.7% | 6.5% | 12.8% | 10.4% | 9.5% | 12.6% |
| ROCE | 16.3% | 16.3% | 9.5% | 9.4% | 14.2% | 10.6% | 8.7% | 17.1% | 18.0% | 17.1% | 16.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.63 | 0.63 | 0.93 | 1.44 | 1.03 | 0.42 | 0.24 | 0.34 | 0.33 | 1.07 | 0.18 |
| Debt / EBITDA | 2.06 | 2.06 | 4.95 | 7.66 | 3.56 | 2.68 | 2.78 | 1.43 | 1.41 | 5.04 | 0.89 |
| Net Debt / Equity | — | -0.31 | 0.06 | 0.38 | -0.06 | -0.70 | -0.48 | -1.01 | -1.02 | 0.30 | -0.48 |
| Net Debt / EBITDA | -1.00 | -1.00 | 0.33 | 2.04 | -0.22 | -4.42 | -5.45 | -4.22 | -4.33 | 1.41 | -2.46 |
| Debt / FCF | — | -1.72 | 1.49 | 0.83 | -2.13 | -32.62 | -4.29 | -2.54 | -1.77 | — | -2.44 |
| Interest Coverage | 3.64 | 3.64 | 1.20 | 0.95 | 6.08 | 16.20 | 10.29 | 4.56 | 5.32 | 10.67 | 17.50 |
Net cash position: cash ($46.0B) exceeds total debt ($31.0B)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.53 | 0.53 | 0.54 | 0.54 | 0.52 | 0.93 | 0.93 | 0.43 | 0.44 | 0.39 | 0.52 |
| Quick Ratio | 0.53 | 0.53 | 0.54 | 0.54 | 0.52 | 0.93 | 0.93 | 0.43 | 0.44 | 0.39 | 0.52 |
| Cash Ratio | 0.11 | 0.11 | 0.11 | 0.10 | 0.08 | 0.11 | 0.08 | 0.11 | 0.10 | 0.06 | 0.05 |
| Asset Turnover | — | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 0.02 | 0.04 | 0.04 | 0.04 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 26.3% | 26.3% | 38.3% | 44.9% | 29.4% | 31.1% | 38.8% | 28.6% | 22.4% | 25.1% | 25.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 4.7% | 4.0% | 3.7% | 4.2% | 3.4% | 4.0% | 5.6% | 5.9% | 3.1% | 3.3% |
| FCF Yield | 5.0% | 4.9% | 1.5% | 15.0% | 0.7% | 0.8% | 8.2% | 13.7% | 21.0% | — | 6.2% |
| Buyback Yield | 5.6% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 6.9% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $1.8B | $1.8B | $1.8B | $1.9B | $1.9B | $1.4B | $1.3B | $1.4B | $1.4B | $1.3B |
Net interest margin compression
According to current market data, SCHW trades at a forward P/E of 14.74, which suggests investors are pricing in a moderate growth trajectory while remaining cautious about the firm's sensitivity to interest rate cycles compared to its historical valuation multiples and broader financial services peer group.
The current P/E of 19.46 relative to a forward P/E of 14.74 indicates that the market anticipates a recovery in earnings power as the interest rate environment stabilizes. Investors should monitor whether the PEG ratio of 1.14 accurately captures the potential for margin expansion following the full integration of the TD Ameritrade platform.
Based on reported figures, ROIC has trended upward from 0.9% in 2023Q4 to 5.9% in 2026Q1, indicating that the firm is beginning to compound returns more effectively as it moves past the heavy capital deployment phase associated with its recent large-scale acquisition and integration efforts.
The improvement in ROIC suggests that the firm's massive investment in technology and infrastructure is finally beginning to yield operational efficiencies. However, the gap between current returns and historical peaks warrants further investigation into whether the firm can sustain this momentum without further balance sheet expansion.
As reported in financial statements, the company has successfully reduced its debt-to-EBITDA ratio from 37.82 in 2023Q4 to 0.00 in 2026Q1, signaling a significant strengthening of the balance sheet and a reduced reliance on wholesale funding to support its core brokerage and banking operations.
This rapid deleveraging appears to be a strategic response to the interest rate volatility that previously pressured the firm's capital ratios. The improvement in interest coverage to 3.90 suggests that the firm is now better positioned to navigate potential future rate shocks compared to the strained levels observed in 2024.
Investors frequently misapply the current ratio to SCHW, as the reported figure of 1.37 in 2026Q1 obscures the reality that a significant portion of current liabilities are client-owned cash balances rather than traditional corporate debt, rendering standard liquidity benchmarks largely irrelevant for this business model.
Using a standard current ratio to assess solvency ignores the fact that client cash is a structural component of the firm's funding rather than a short-term liability requiring immediate repayment. Analysts should instead focus on regulatory capital ratios and the stability of client assets to gauge true liquidity risk.
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying SCHW stock.
The Charles Schwab Corporation's current P/E ratio is 21.6x. The historical average is 37.0x. This places it at the 27th percentile of its historical range.
The Charles Schwab Corporation's current EV/EBITDA is 10.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.4x.
The Charles Schwab Corporation's return on equity (ROE) is 18.1%. The historical average is 17.3%.
Based on historical data, The Charles Schwab Corporation is trading at a P/E of 21.6x. This is at the 27th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Charles Schwab Corporation's current dividend yield is 1.30% with a payout ratio of 26.3%.
The Charles Schwab Corporation has 80.3% gross margin and 49.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
The Charles Schwab Corporation's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.