Charles Schwab Corp: 2026 Investor Day: Reinforces Back on Offense Story

研报英文原文证据摘录

Charles Schwab Corp: 2026 Investor Day: Reinforces Back on Offense Story

Foundation

May 15, 2026 05:34 AM GMT

Morgan Stanley & Co. LLCMCharles Schwab Corp | North America Michael J. Cyprys, CFA, CPA

Equity Analyst

2026 Investor Day: Reinforces Michael.Cyprys@morganstanley.comBarron Thomas +1 212 761-7619

Research Associate

Barron.Thomas@morganstanley.com +1 212 761-2624

Back on Offense Story

Charles Schwab Corp (SCHW.N, SCHW UN)

SCHW Investor Day reinforced the shift to offense, with Brokers, Asset Managers & Exchanges | United States of

America

stronger ’26 guidance suggesting upside to ‘27, broader Stock Rating Overweight

monetization levers, AI-enabled scale, and deeper client IndustryPrice targetView $125.00In-Line

relationships supporting durable double-digit EPS growth. Shr price, close (May 14, 2026) $89.44

52-Week Range $107.46-85.78

Mkt cap (12/26e) (mm) $155,297

Key Takeaways Fiscal Year Ending 12/25 12/26e 12/27e 12/28e

’26 guidance moved higher with revenue growth >200 bps ahead of cons; ~20 EPS ($)** 4.87 6.14 7.83 9.20

Prior EPS ($)** - - - -

bps better exit NIM suggests upside to ‘27 EPS. EPS ($)§ 4.87 6.02 6.99 7.98

Div yld (%) 1.1 1.3 1.4 1.6

Mgmt pushed back on AI cash-optimizer risk as already compete against such;

Unless otherwise noted, all metrics are based on Morgan Stanley ModelWare

framed sweep cash as transactional not protected by friction. framework

** = Based on consensus methodology

SCHW is broadening monetization across lending, advice, ETFs, alts, private §e == MorganConsensusStanleydataResearchis providedestimatesby Refinitiv Estimates

markets, crypto and RIA services. Quarterly EPS ($)

2026e 2026e 2027e 2027e

AI should accelerate the strategy by improving personalization, productivity and Quarter 2025 Prior Current Prior Current