The record core net new assets ($190.4B, +38% YoY) and expanding net interest margin (3.04%) signal accelerating organic growth and improving profitability. Watch for continued sweep cash migration and margin loan growth as catalysts for further NIM expansion.
Price Chart
Executive Summary
Schwab reported record Q3 2026 results with GAAP EPS of $1.62 (adjusted $1.69) and record net revenues of $7.2B, up 17% YoY. Core net new assets hit a record $190.4B, up 38% YoY, reflecting strong organic growth and client engagement. However, adjusted EPS of $1.69 slightly missed the consensus estimate of $1.72, and revenue of $7.17B came in below the $7.40B consensus, tempering the otherwise strong operational momentum.
Key Financial Metrics
Key Facts
- Record quarterly core net new assets of $190.4B, up 38% YoY
- Record net revenues of $7.2B, up 17% YoY
- Record GAAP EPS of $1.62, up 29% YoY
- Adjusted EPS of $1.69, up 29% YoY
- Net interest margin expanded to 3.04%
- Trading revenue up 16% YoY to $1.2B
- Asset management and administration fees up 14% YoY to $1.9B
- Repurchased 4.7M shares for $0.5B during the quarter
- Total client assets reached $13.33 trillion, up 15% YoY
- Bank loan balances grew 35% YoY to $72.3B
Financial Impact
Record revenue of $7.2B (+17% YoY) and record GAAP EPS of $1.62 (+29% YoY); adjusted EPS of $1.69 slightly below $1.72 consensus
Risk Factors
- Adjusted EPS of $1.69 missed consensus of $1.72, which could pressure the stock near-term
- Revenue of $7.17B came in below $7.40B consensus, a ~3% miss
- Expenses grew 9% YoY, outpacing revenue growth in some segments
- Market volatility could impact trading revenue and asset management fees
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000316709-26-000035 |
| Document: schw-20261015.htm | 0000316709-26-000035 |
| Document: 0000316709-26-000035-index-headers.html | 0000316709-26-000035 |
| Document: 0000316709-26-000035-index.html | 0000316709-26-000035 |
| Document: 0000316709-26-000035.txt | 0000316709-26-000035 |
| 8-K Data (Synthetic) | 0000316709-26-000035 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $91.96 | awaiting T+20 | — | $90.58 (−1.50%) |
Oct 12, 2026 14d ago | ANALYST-UPGRADE | $97.06 | awaiting T+20 | — | $90.58 (−6.68%) |
Oct 2, 2026 24d ago | ANALYST-UPGRADE | $96.70 | awaiting T+20 | — | $90.58 (−6.33%) |
Sep 2, 2026 7w ago | Insider Cluster | $110.38 $96.70 | ▼ −12.39% | ▼ −11.21% | $90.58 (−17.94%) |
Aug 31, 2026 8w ago | Insider Cluster | $108.28 $97.74 | ▼ −9.73% | ▼ −10.05% | $90.58 (−16.35%) |
Aug 31, 2026 8w ago | Insider Cluster | $108.28 $97.74 | ▼ −9.73% | ▼ −10.05% | $90.58 (−16.35%) |
Aug 27, 2026 8w ago | Insider Cluster | $110.16 $98.30 | ▼ −10.77% | ▼ −11.03% | $90.58 (−17.77%) |
Aug 27, 2026 8w ago | Insider Cluster | $110.16 $98.30 | ▼ −10.77% | ▼ −11.03% | $90.58 (−17.77%) |
Aug 26, 2026 8w ago | Insider Cluster | $108.05 $99.49 | ▼ −7.92% | ▼ −7.41% | $90.58 (−16.17%) |
Aug 18, 2026 9w ago | Insider Cluster | $110.88 $107.79 | ▼ −2.79% | ▼ −1.27% | $90.58 (−18.31%) |
US Market Status
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