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) Return on invested capital
Morgan Stanley's return on invested capital over the twelve months to 30 September 2026 was 0.00%, down 57.1 percentage points from fiscal 2025 (57.1%). Over the past ten years it has ranged from 0.00% (fiscal 2022) to 85.0% (fiscal 2024); the current reading is higher than 82% of that period. That is in line with the Capital Markets industry median of 0.00% and below the Financial sector median of 4.85%.
Return on invested capital, annual
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Annual newest first
| Period | Return on invested capital | Change (points) |
|---|---|---|
| FY2025 | 57.1% | (27.89) |
| FY2024 | 85.0% | 12.51 |
| FY2023 | 72.4% | 72.44 |
| FY2022 | 0.00% | 0.00 |
| FY2021 | 0.00% | 0.00 |
| FY2020 | 0.00% | 0.00 |
| FY2019 | 0.00% | 0.00 |
| FY2018 | 0.00% | 0.00 |
| FY2017 | 0.00% | 0.00 |
| FY2016 | 0.00% | 0.00 |
Against its own ten years
Return on invested capital against peers
| Company | Return on invested capital |
|---|---|
| HOOD Robinhood Markets, Inc. compare | 34.9% |
| TW Tradeweb Markets Inc. compare | 11.4% |
| LPLA LPL Financial Holdings Inc. compare | 11.0% |
| IBKR Interactive Brokers Group, Inc. compare | 0.00% |
| SCHW The Charles Schwab Corporation compare | 0.00% |
| MS Morgan Stanley | 0.00% |
| NMR Nomura Holdings Inc ADR compare | 0.00% |
| GS The Goldman Sachs Group, Inc. compare | 0.00% |
| CRCL Circle Internet Group, Inc. compare | 0.00% |
| Capital Markets industry median | 0.00% |
| Financial sector median | 4.85% |
| Market median | 0.00% |
What Return on invested capital is
Return on Invested Capital shows how much after-tax operating profit a company earns on the money its lenders and shareholders have put in.
TTM: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) (latest quarter) + Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter) − Cash & Short Term Investments (latest quarter)); Annual: (Operating Income × 0.625) ÷ (Shareholders Equity (Total) + Long Term Debt (Total) + Current Part of Debt − Cash & Short Term Investments)
More on MS
- Revenue
- 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
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement