Morgan Stanley (MS): financials, SEC filings and peers
Morgan Stanley (MS) is an investment banking & brokerage company in the Financials sector of the S&P 500, headquartered in New York City, New York.
It was founded in 1935 and joined the S&P 500 on July 29, 1993.
Its fiscal year ends in December, and its shares trade on the NYSE.
In its SEC filings it is classified as “Security Brokers, Dealers & Flotation Companies”.
Morgan Stanley at a glance
- Revenue (12 months)
- $78.0B
- Revenue growth
- +18.0%
- Operating margin
- 33.5%
- Net income (12 months)
- $20.2B
- Free cash flow (12 months)
- —
- Cash
- $160.1B
- Debt
- $383.2B
- Diluted EPS (12 months)
- $12.37
Twelve months to June 30, 2026, from the 10-Q filed August 4, 2026.
Latest twelve months
Over the twelve months to June 30, 2026, Morgan Stanley reported revenue of $78.0 billion, up 18.0% from a year earlier.
Its operating margin was 33.5%, up 4.3 percentage points from a year earlier: for every $100 of sales, about $34 was left as operating profit.
Net income was $20.2 billion (25.8% of revenue), 36.6% higher than a year earlier.
At the end of the period it held $160.1 billion in cash and $383.2 billion in debt, a net debt position of $223.0 billion.
The diluted share count fell 1.5% in a year, typically the result of buybacks.
Five-year trend
- Revenue went from $48.8 billion in fiscal 2020 to $70.6 billion in fiscal 2025, about 7.7% a year.
- Revenue has grown for 3 fiscal years in a row.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $59.8B | $53.7B | $54.1B | $61.8B | $70.6B |
| Revenue growth | 22.6% | -10.2% | 0.9% | 14.1% | 14.4% |
| Operating margin | — | — | — | — | — |
| Net income | $15.0B | $11.0B | $9.1B | $13.4B | $16.9B |
| Free cash flow | — | — | — | — | — |
| Diluted EPS | $8.03 | $6.15 | $5.18 | $7.95 | $10.21 |
Fiscal years as reported in Morgan Stanley’s 10-K filings. Free cash flow is operating cash flow minus capital spending.
Companies like Morgan Stanley
Other S&P 500 companies in Investment Banking & Brokerage:
- GSGoldman SachsNew York City, New York
- HOODRobinhood MarketsMenlo Park, California
- IBKRInteractive BrokersGreenwich, Connecticut
- RJFRaymond James FinancialSt. Petersburg, Florida
- SCHWCharles Schwab CorporationWestlake, Texas
More from Financials
Questions about Morgan Stanley
Is Morgan Stanley's revenue growing?
Yes. Revenue for the twelve months to June 30, 2026 was $78.0 billion, up 18.0% from a year earlier, according to its SEC filings.
Is Morgan Stanley profitable?
Yes. It earned $20.2 billion in net income over the twelve months to June 30, 2026, a net margin of 25.8%.
Does Morgan Stanley have more cash or more debt?
At June 30, 2026 it had $160.1 billion in cash and $383.2 billion in debt, so more debt than cash.
Which companies are similar to Morgan Stanley?
In the S&P 500, Morgan Stanley is grouped in Investment Banking & Brokerage within the Financials sector. Goldman Sachs (GS), Robinhood Markets (HOOD), Interactive Brokers (IBKR), Raymond James Financial (RJF), Charles Schwab Corporation (SCHW) are in the same group.
Understand the numbers
Source: Morgan Stanley’s filings with the U.S. Securities and Exchange Commission (EDGAR), retrieved September 27, 2026. Figures are as reported by the company and may be restated. This page is for information only and is not financial advice.