Morgan Stanley
Morgan Stanley’s revenue for fiscal 2025 (year ended December 2025) was $119.7 billion, up 11.5% from fiscal 2024. In the quarter to September 2026, revenue grew 6.69%, EPS grew 13.4%, free cash flow fell 132.2% and total debt rose 19.4%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five.
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Morgan Stanley (MS) Revenue
Morgan Stanley's revenue for fiscal 2025 was $119.7B, up 11.5% from $107.3B in fiscal 2024. Over the twelve months to 30 September 2026 it was $130.9B. Over the past ten years it has ranged from $37.9B (fiscal 2015) to $119.7B (fiscal 2025) — the current reading is the highest in ten years. Revenue has risen for 5 consecutive fiscal years. Morgan Stanley ranks 2nd of 80 Capital Markets companies by revenue.
Revenue, annual
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Annual newest first
| Period | Revenue | Change |
|---|---|---|
| FY2025 | $119.7B | 11.54% |
| FY2024 | $107.3B | 16.92% |
| FY2023 | $91.8B | 39.17% |
| FY2022 | $65.9B | 7.88% |
| FY2021 | $61.1B | 16.19% |
| FY2020 | $52.6B | (2.48%) |
| FY2019 | $53.9B | 7.47% |
| FY2018 | $50.2B | 15.01% |
| FY2017 | $43.6B | 15.00% |
| FY2016 | $37.9B | 0.14% |
Quarterly newest first
| Period | Revenue | Change |
|---|---|---|
| Sep 2026 | $33.3B | (3.46%) |
| Jun 2026 | $34.5B | 3.98% |
| Mar 2026 | $33.2B | 10.54% |
| Dec 2025 | $30.0B | (3.85%) |
| 43 more quarters | Free account |
Against its own ten years
Revenue against peers
| Company | Revenue |
|---|---|
| MS Morgan Stanley | $130.9B |
| GS The Goldman Sachs Group, Inc. compare | $69.7B |
| NMR Nomura Holdings Inc ADR compare | $32.8B |
| SCHW The Charles Schwab Corporation compare | $27.1B |
| LPLA LPL Financial Holdings Inc. compare | $19.6B |
| IBKR Interactive Brokers Group, Inc. compare | $6.9B |
| HOOD Robinhood Markets, Inc. compare | $4.9B |
| CRCL Circle Internet Group, Inc. compare | $2.9B |
| TW Tradeweb Markets Inc. compare | $2.2B |
What Revenue is
Revenue tells an investor how much a company brought in from selling its goods and services over a period, before any costs are taken out.
Reported line item
More on MS
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement