Where it stands
MS among the 76 companies we cover
MS and 9 peers, year by year
The 9 Financials companies closest to MS in revenue over the last twelve months. Every number is from the 10-K and links to it in SEC's Inline XBRL viewer.
Choose the peers
| Company | Year | Revenue | Sales growth | Operating margin | Net margin | FCF margin | Return on equity | Debt / equity |
|---|---|---|---|---|---|---|---|---|
| MS Morgan Stanley | FY2025 | $70.6B | +14.4% | - | 23.9% | - | 15.1% | 3.06 |
| MET MetLife | FY2025 | $77.1B | +8.5% | 8.0% | 4.4% | - | 11.9% | 0.52 |
| AXP American Express | FY2025 | $72.2B | +6.4% | - | 15.0% | 22.2% | 32.4% | 1.73 |
| C Citigroup | FY2025 | $85.2B | +5.6% | - | 16.8% | −87.0% | 6.7% | 1.58 |
| WFC Wells Fargo | FY2025 | $83.7B | +1.7% | - | 25.5% | - | 11.8% | 1.07 |
| ALL Allstate | FY2025 | $67.7B | +5.6% | - | 15.2% | 14.6% | 33.6% | 0.24 |
| GS Goldman Sachs | FY2025 | $58.3B | +8.9% | - | 29.5% | −81.0% | 13.7% | 2.85 |
| PGR Progressive Corporation | FY2025 | $87.7B | +16.3% | - | 12.9% | 19.6% | 37.3% | 0.23 |
| COF Capital One | FY2025 | $53.4B | +36.3% | - | 4.6% | 48.9% | 2.2% | 0.45 |
| CB Chubb Limited | FY2025 | $59.4B | +6.5% | - | 17.4% | - | 14.0% | 0.23 |
Revenue, FY2021 to FY2025
Revenue as reported in the 10-K.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | $59.8B | $53.7B | $54.1B | $61.8B | $70.6B |
| MET Dec | $68.7B | $68.8B | $66.9B | $71.0B | $77.1B |
| AXP Dec | $42.4B | $52.9B | $60.5B | $65.9B | $72.2B |
| C Dec | $71.9B | $75.3B | $78.1B | $80.7B | $85.2B |
| WFC Dec | $79.2B | $74.4B | $82.6B | $82.3B | $83.7B |
| ALL Dec | $50.6B | $51.4B | $57.1B | $64.1B | $67.7B |
| GS Dec | $59.3B | $47.4B | $46.3B | $53.5B | $58.3B |
| PGR Dec | $47.7B | $49.6B | $62.1B | $75.4B | $87.7B |
| COF Dec | $30.4B | $34.2B | $36.8B | $39.1B | $53.4B |
| CB Dec | $40.9B | $43.1B | $49.7B | $55.8B | $59.4B |
| Peer median | $50.6B | $51.4B | $60.5B | $65.9B | $72.2B |
Sales growth, FY2021 to FY2025
Revenue against the fiscal year before.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | +22.6% | −10.2% | +0.9% | +14.1% | +14.4% |
| MET Dec | +53.2% | +1.7% | +5.6% | +0.7% | +8.5% |
| AXP Dec | +26.1% | +23.5% | +8.8% | +4.3% | +6.4% |
| C Dec | −4.8% | +4.8% | +4.1% | +3.4% | +5.6% |
| WFC Dec | +5.7% | −6.1% | +11.1% | −0.4% | +1.7% |
| ALL Dec | +20.7% | +1.6% | +11.1% | +12.3% | +5.6% |
| GS Dec | +33.2% | −20.2% | −2.3% | +15.7% | +8.9% |
| PGR Dec | +11.8% | +4.0% | +25.2% | +21.4% | +16.3% |
| COF Dec | +27.9% | +13.3% | +4.2% | +4.8% | +36.3% |
| CB Dec | +13.8% | +5.5% | +15.4% | +12.1% | +6.5% |
| Peer median | +20.7% | +4.0% | +8.8% | +4.8% | +6.5% |
Operating margin, FY2021 to FY2025
Operating income / revenue.Net margin, FY2021 to FY2025
Net income / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | 25.2% | 20.6% | 16.8% | 21.7% | 23.9% |
| MET Dec | 10.0% | 7.7% | 2.4% | 6.2% | 4.4% |
| AXP Dec | 19.0% | 14.2% | 13.8% | 15.4% | 15.0% |
| C Dec | 30.5% | 19.7% | 11.8% | 15.7% | 16.8% |
| WFC Dec | 27.9% | 18.4% | 23.2% | 24.0% | 25.5% |
| ALL Dec | 3.2% | −2.5% | −0.3% | 7.3% | 15.2% |
| GS Dec | 36.5% | 23.8% | 18.4% | 26.7% | 29.5% |
| PGR Dec | 7.0% | 1.5% | 6.3% | 11.3% | 12.9% |
| COF Dec | 40.7% | 21.5% | 13.3% | 12.1% | 4.6% |
| CB Dec | 20.9% | 12.2% | 18.2% | 16.6% | 17.4% |
| Peer median | 20.9% | 14.2% | 13.3% | 15.4% | 15.2% |
Free cash flow, FY2021 to FY2025
Cash from operations minus capital spending.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | - | - | - | - | - |
| MET Dec | - | - | - | - | - |
| AXP Dec | $13.1B | $19.2B | $17.0B | $12.1B | $16.0B |
| C Dec | $43.0B | $19.4B | −$80.0B | −$26.2B | −$74.2B |
| WFC Dec | - | - | - | - | - |
| ALL Dec | $4.8B | $4.7B | $4.0B | $8.7B | $9.9B |
| GS Dec | $1.6B | $5.0B | −$14.9B | −$15.3B | −$47.2B |
| PGR Dec | $7.5B | $6.6B | $10.4B | $14.8B | $17.2B |
| COF Dec | $11.6B | $12.9B | $19.6B | $17.0B | $26.1B |
| CB Dec | - | - | - | - | - |
| Peer median | $9.6B | $9.7B | $7.2B | $10.4B | $12.9B |
FCF margin, FY2021 to FY2025
Free cash flow / revenue.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | - | - | - | - | - |
| MET Dec | - | - | - | - | - |
| AXP Dec | 30.9% | 36.4% | 28.1% | 18.4% | 22.2% |
| C Dec | 59.8% | 25.8% | −102.5% | −32.4% | −87.0% |
| WFC Dec | - | - | - | - | - |
| ALL Dec | 9.4% | 9.1% | 6.9% | 13.6% | 14.6% |
| GS Dec | 2.7% | 10.5% | −32.2% | −28.6% | −81.0% |
| PGR Dec | 15.8% | 13.2% | 16.7% | 19.7% | 19.6% |
| COF Dec | 38.2% | 37.6% | 53.3% | 43.3% | 48.9% |
| CB Dec | - | - | - | - | - |
| Peer median | 23.3% | 19.5% | 11.8% | 16.0% | 17.1% |
Return on equity, FY2021 to FY2025
Net income / shareholders' equity at the year end.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | 14.3% | 11.0% | 9.2% | 12.8% | 15.1% |
| MET Dec | 10.2% | 17.7% | 5.3% | 16.1% | 11.9% |
| AXP Dec | 36.3% | 30.4% | 29.8% | 33.5% | 32.4% |
| C Dec | 10.9% | 7.4% | 4.5% | 6.1% | 6.7% |
| WFC Dec | 11.8% | 7.6% | 10.3% | 11.0% | 11.8% |
| ALL Dec | 6.5% | −7.4% | −1.1% | 21.8% | 33.6% |
| GS Dec | 19.7% | 9.6% | 7.3% | 11.7% | 13.7% |
| PGR Dec | 18.4% | 4.5% | 19.2% | 33.1% | 37.3% |
| COF Dec | 20.3% | 14.0% | 8.4% | 7.8% | 2.2% |
| CB Dec | 14.6% | 10.4% | 15.2% | 14.5% | 14.0% |
| Peer median | 14.6% | 9.6% | 8.4% | 14.5% | 13.7% |
Debt / equity, FY2021 to FY2025
Total debt / shareholders' equity at the year end.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | 2.16 | 2.34 | 2.63 | 2.72 | 3.06 |
| MET Dec | 0.21 | 0.49 | 0.52 | 0.57 | 0.52 |
| AXP Dec | 1.85 | 1.78 | 1.75 | 1.69 | 1.73 |
| C Dec | 1.34 | 1.48 | 1.49 | 1.52 | 1.58 |
| WFC Dec | 1.04 | 1.25 | 1.60 | 0.98 | 1.07 |
| ALL Dec | 0.32 | 0.46 | 0.45 | 0.38 | 0.24 |
| GS Dec | 2.74 | 2.63 | 2.72 | 2.56 | 2.85 |
| PGR Dec | 0.27 | 0.40 | 0.34 | 0.27 | 0.23 |
| COF Dec | 0.71 | 0.93 | 0.86 | 0.75 | 0.45 |
| CB Dec | 0.28 | 0.29 | 0.24 | 0.24 | 0.23 |
| Peer median | 0.71 | 0.93 | 0.86 | 0.75 | 0.52 |
EPS (diluted), FY2021 to FY2025
Diluted earnings per share, on today's share count after splits.| Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| MS Dec | $8.03 | $6.15 | $5.18 | $7.95 | $10.21 |
| MET Dec | $7.65 | $6.30 | $1.81 | $5.94 | $4.71 |
| AXP Dec | $10.02 | $9.85 | $11.21 | $14.01 | $15.38 |
| C Dec | $10.14 | $7.00 | $4.04 | $5.94 | $6.99 |
| WFC Dec | $5.08 | $3.27 | $4.83 | $5.37 | $6.26 |
| ALL Dec | $5.01 | −$5.14 | −$1.20 | $16.99 | $38.06 |
| GS Dec | $59.45 | $30.06 | $22.87 | $40.54 | $51.32 |
| PGR Dec | $5.66 | $1.18 | $6.58 | $14.40 | $19.23 |
| COF Dec | $26.94 | $17.91 | $11.95 | $11.59 | $4.03 |
| CB Dec | $19.24 | $12.39 | $21.80 | $22.70 | $25.68 |
| Peer median | $10.02 | $7.00 | $6.58 | $14.01 | $15.38 |
Fiscal years are lined up as each company's 10-K names them; the month next to a ticker is when its year ends. Hover a number for the XBRL line items and the filing; click it to open the filing on sec.gov. "n/m" means not meaningful: equity below zero, or a base so close to zero that the ratio says nothing. The peer median leaves out MS and needs at least three peers with the number. P/E, P/S and P/FCF at each year end appear here once the site has daily prices. What the same companies write about AI, tariffs and more →
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