# Charles Schwab Stock Q3 2026: Revenue Up 17% on $190bn of Net New Assets
> Charles Schwab stock Q3 2026: revenue rose 17% to $7.17bn, core net new assets hit $190.4bn and adjusted EPS rose 29%, but the shares are down 11% in 2026.

Agent brief for this QSI Labs research article. Prefer this file for quick facts; use the HTML page for the full human layout, or article.md for the full text.

## Facts
- Ticker: SCHW
- QSILabs fair value: $169.87 USD
- Price: $88.71 (as of 2026-11-02)
- As of: Q3 2026 results (quarter ended 2026-09-30, reported 2026-10-15); balance sheet from the Q3 2026 earnings release, preferred stock from Form 10-Q for the quarter ended 2026-06-30; price as of 2026-11-02 close
- Fiscal period: Q3 2026 (July-September 2026)
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/charles-schwab-stock-q3-2026-earnings-net-new-assets-lending/

## Short answer
Charles Schwab stock Q3 2026 is a story of fast growth and a falling share price. Schwab reported net revenues of $7,171m for the three months to 30 September 2026, up 17%, and adjusted earnings per share of $1.69, up 29%. Clients brought in $190.4bn of core net new assets, up 38% and, Schwab said, a quarterly record. Margin loans almost doubled to $187.9bn and bank loans rose 35% to $72.3bn. Yet the shares fell 2.7% on results day and closed at $88.71 on 2 November 2026, down 11.2% for the year. Our discounted cash flow model values the shares at $169.87, almost twice the price; most of that gap comes from a 7.37% cost of equity built on a low industry beta, so we show below how far the value falls with higher rates: to $133.10 with Schwab's own beta and $101.04 with the US industry cost of equity.

## Key takeaways
- Revenue grew 17%. Total net revenues were $7,171m, which Schwab called a record. Net interest revenue rose 14.0% to $3,476m, asset management and administration fees 14.3% to $1,913m and trading revenue 16.4% to $1,158m.
- Profit grew faster. Income before taxes rose 25.0% to $3,777m, a pre-tax margin of 52.7% against 49.2%. GAAP diluted EPS rose to $1.62 from $1.26, and adjusted EPS to $1.69 from $1.31.
- Client money kept coming. Core net new assets were $190.4bn, up 38%, an annualised organic growth rate of 5.8%. Total client assets rose 15% to $13.33tn and clients opened 1.2m new brokerage accounts.
- Lending is the growth engine. Margin loans rose 93% to $187.9bn, partly because of client long/short strategies, and bank loans rose 35% to $72.3bn. Loans grew faster than deposits, so Schwab used more borrowed funding.
- Capital went back to shareholders. Schwab bought back almost $4bn of shares in the first nine months, raised its quarterly dividend to $0.32 from $0.27 and redeemed preferred stock.
- Our value: $169.87 a share, against an $88.71 close on 2 November 2026. A two-stage cross-check gives $151.11; with the 10.35% US industry cost of equity the model gives $101.04. Analysts' average target is $116.86.
- What to watch. The 2027 financial scenario Schwab plans to give in January, interest rates and net interest margin, and how Schwab funds loan growth that is outpacing client cash.

## Full versions
- [HTML](https://www.quantitativesuperintelligencelabs.com/research/charles-schwab-stock-q3-2026-earnings-net-new-assets-lending/)
- [Markdown](https://www.quantitativesuperintelligencelabs.com/research/charles-schwab-stock-q3-2026-earnings-net-new-assets-lending/article.md)
- [PDF](https://www.quantitativesuperintelligencelabs.com/research/charles-schwab-stock-q3-2026-earnings-net-new-assets-lending/charles-schwab-stock-q3-2026-earnings-net-new-assets-lending.pdf)
- [This agent brief](https://www.quantitativesuperintelligencelabs.com/research/charles-schwab-stock-q3-2026-earnings-net-new-assets-lending/llms.txt)

Publisher: QSI Labs (Quantitative Super Intelligence Labs)
Site index: https://www.quantitativesuperintelligencelabs.com/llms.txt