Charles Schwab (SCHW) FY2023 results: revenue $18.8 billion, down 9.3% on the year
Charles Schwab Corp. (SCHW) reported revenue of $18.8 billion for fiscal 2023, the year ended 31 December 2023, down 9.3% on the year before. Net income was $5.1 billion, down 29.5%, and diluted earnings per share $2.54. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$18.8 billion
-9.3% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$5.1 billion
-29.5% on the year
FY2016FY2023
Diluted EPS
$2.54
-27.4% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
19,587
2,057
2,118
+852.2%
Capital expenditure
700
971
916
-27.9%
Free cash flow
18,887
1,086
1,202
+1,639.1%
Free cash flow margin
100.3%
5.2%
6.5%
Cash from investing
57,411
32,048
-75,663
+79.1%
Cash from financing
-61,245
-68,723
96,323
Depreciation and amortisation
804
652
549
+23.3%
Share-based compensation
320
366
254
-12.6%
Buybacks
2,842
3,395
0.0
-16.3%
Dividends paid
2,276
2,110
1,822
+7.9%
Dividend per share
$1.00
$0.84
$0.72
+19.0%
Diluted shares, weighted
1,831m
1,894m
1,897m
-3.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
40,958
36,608
56,261
+11.9%
Deposits
289,953
366,724
443,778
-20.9%
Short-term borrowings
n/a
17,050
4,855
Debt
26,128
20,828
18,914
+25.4%
Other liabilities
136,139
110,562
143,462
+23.1%
Total liabilities and equity
493,178
551,772
667,270
-10.6%
Fixed assets
n/a
3,714
3,442
Goodwill
11,951
11,951
11,952
0.0%
Intangible assets
8,260
8,789
9,379
-6.0%
Securities held for sale or to maturity
267,098
320,945
390,054
-16.8%
Loans
40,439
40,505
34,636
-0.2%
Securities borrowed
1,563
705
582
+121.7%
Cash and equivalents
43,337
40,195
62,975
+7.8%
Other assets
120,530
124,968
154,250
-3.6%
Total assets
493,178
551,772
667,270
-10.6%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.