Morgan Stanley (MS) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
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MS Revenue Growth
Revenue Breakdown (FY 2024)
MS's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
MS Revenue Analysis (2013–2024)
As of May 6, 2026, Morgan Stanley (MS) generated trailing twelve-month (TTM) revenue of $112.10 billion, reflecting strong growth of +14.1% year-over-year. The most recent quarter (Q3 2025) recorded $30.05 billion in revenue, up 6.7% sequentially.
Looking at the longer-term picture, MS's 5-year compound annual growth rate (CAGR) stands at +14.9%, indicating consistent double-digit revenue growth. The company achieved its highest annual revenue of $103.14 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows MS's business is primarily driven by Wealth Management Segment (46%), Institutional Securities Segment (45%), and Investment Management Segment (9%).
When compared to Financial Services sector peers including GS, JPM, and BAC. Compare MS vs GS →
MS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| MSCurrent | $112.1B | +14.1% | +14.9% | 17.1% | |
 GS | $126.9B | - | - | 14.5% | |
 JPM | $270.8B | - | - | 27.7% | |
 BAC | $188.8B | - | - | 18.5% | |
 C | $170.7B | - | - | 10.0% | |
 WFC | $125.4B | - | - | 18.6% |
MS Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $103.14B | - | $57.36B | 55.6% | $17.60B | 17.1% |
| 2023 | $88.29B | - | $50.13B | 56.8% | $11.81B | 13.4% |
| 2022 | $62.48B | - | $49.93B | 79.9% | $14.09B | 22.6% |
| 2021 | $57.78B | - | $56.41B | 97.6% | $19.67B | 34.0% |
| 2020 | $49.68B | - | $45.07B | 90.7% | $14.42B | 29.0% |
| 2019 | $51.45B | - | $38.88B | 75.6% | $11.30B | 22.0% |
| 2018 | $47.80B | - | $37.71B | 78.9% | $11.24B | 23.5% |
| 2017 | $41.55B | - | $35.85B | 86.3% | $10.40B | 25.0% |
| 2016 | $36.03B | - | $32.71B | 90.8% | $8.85B | 24.6% |
| 2015 | $36.01B | - | $33.26B | 92.4% | $8.49B | 23.6% |
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Start ComparisonMS — Frequently Asked Questions
Quick answers to the most common questions about buying MS stock.
Is MS's revenue growth accelerating or slowing?
MS maintains +14.1% revenue growth, in line with its 5-year CAGR of +14.9%. TTM revenue stands at $112.1B. Growth rate remains consistent with historical average.
What is MS's long-term revenue growth rate?
Morgan Stanley's 5-year revenue CAGR of +14.9% reflects the sustained expansion pattern. Current YoY growth of +14.1% is near this long-term average.
How is MS's revenue distributed by segment?
MS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.