Short answer
Charles Schwab Corp (SCHW) filed its fiscal 2024 10-K annual report with the SEC on Feb 26, 2025. It reported revenue of $19.6B (+4.1% year over year) and net income of $5.9B.
- Top risk flagged: Regulatory risk: SEC May 2024 fee rate increase raised industry fees, increasing other expenses for Schwab in 2024
FY2024 key financial metrics · XBRL
- Revenue
- $19.6B
- +4.1% YoY
- Net income
- $5.9B
- +17.3% YoY
- EPS (diluted)
- $2.99
- +17.7% YoY
- ROE
- 12.3%
- −0.1 pp YoY
- Operating cash flow
- $2.7B
- −86.4% YoY
Source: XBRL data from the Charles Schwab Corp (SCHW) FY2024 10-K on SEC EDGAR. USD.
Charles Schwab Corp FY2024 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Financial services including banking, brokerage, and asset management with regulatory capital oversight
- Regulatory update: Incorporation of AOCI into capital requirements phased over three years starting July 1, 2025
- Strategic shift: Updated long-term consolidated adjusted Tier 1 Leverage Ratio target to 6.75% - 7.00% in Q2 2024
- Quantitative metric: CSB bank subsidiary maintains Tier 1 Leverage Ratio above 6.5%, exceeding well-capitalized 5% minimum
- Noteworthy fact: CS&Co broker-dealer compliant with Uniform Net Capital Rule at December 31, 2024
Management Discussion & Analysis
- No profitability or margin % metrics included
- Discussion on capital expenditures, expense management, dividends, repurchases mentioned, but no $ amounts provided
- Forward-looking focus on market valuation, asset growth, expense discipline, net interest revenue, interest rate risk, liquidity, capital management, and shareholder returns
Risk Factors
- Regulatory risk: SEC May 2024 fee rate increase raised industry fees, increasing other expenses for Schwab in 2024
- Macroeconomic threat: Federal Reserve rate cuts totaling 100 basis points in H2 2024 affected net interest revenue, down 3% to $9.1B
- Operational vulnerability: Ameritrade integration costs reduced 55% to $645M in 2024, reflecting completion of final integration activities
- Competitive risk: Schwab faces pressure to grow new brokerage accounts amid increasing competition, though new accounts rose 10% to 4.17M in 2024
- Financial risk: Return on tangible common equity fell from 54% in 2023 to 35% in 2024 due to higher average common equity including increased unrealized gains
Generated from the filing text; verify against the original. How to read a 10-K
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