Schwab posts record Q4 revenue of $6.3 billion; GAAP EPS rises 41% to $1.33
Schwab reported fourth-quarter 2025 GAAP net income of $2.5 billion, or $1.33 per diluted share, up from $0.94 a year earlier, on net revenues of $6.3 billion, up 19% year-over-year. Full-year 2025 net revenues reached a record $23.9 billion, up 22%, and the company announced a definitive agreement to acquire Forge Global, expected to close in the first half of 2026.
Key points
- Q4 2025 net revenues rose 19% year-over-year to a record $6.3 billion; full-year net revenues were $23.9 billion, up 22%.
- GAAP diluted EPS was $1.33 versus $0.94 a year earlier; adjusted EPS was $1.39, excluding $127 million of pre-tax transaction-related costs.
- Q4 GAAP net income was $2.5 billion, up 34%; the pre-tax profit margin was 50.2% versus 43.3%.
- Schwab announced a definitive agreement to acquire Forge Global, with closing expected in the first half of 2026.
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 21, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.