Morgan Stanley (MS) Net Margin (2009 - 2026)
Morgan Stanley (MS) posted quarterly Net Margin of 26.29% for Q1 2026, up 286.0% year-over-year from 6.81% in Q1 2025, and up 10.68% quarter-over-quarter from 23.76% in Q4 2025.
Morgan Stanley (MS) Net Margin (2009 - 2026) Analysis & Trends
Morgan Stanley (MS) has reported Net Margin for 18 consecutive years, with 26.29% the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Margin rose 286.0% year-over-year to 26.29%; the TTM figure through Mar 2026 stood at 23.82% (up 255.0% YoY), while the FY2025 annual figure was 23.0%, up 228.0% from the prior year.
- Net Margin improved to 26.29% in Q1 2026 per MS's latest filing, from 23.76% in the prior quarter.
- Across five years, Net Margin topped out at 26.29% in Q1 2026 and bottomed at 10.72% in Q4 2023.
- Historically, Net Margin has averaged 20.08% across 5 years, with a median of 19.68% in 2024.
- Annual changes were most pronounced in 2022 — Net Margin plunged 816 bps — and 2024, when it surged 1124 bps.
- Morgan Stanley's Net Margin stood at 16.57% in 2022, then plunged by 35 bps to 10.72% in 2023, then jumped by 105 bps to 21.97% in 2024, then grew by 8 bps to 23.76% in 2025, then rose by 11 bps to 26.29% in 2026.
- Business Quant data shows MS's Net Margin at 26.29% in Q1 2026, 23.76% in Q4 2025, and 24.42% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | 25.46% |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | 31.46% |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | 37.91% |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 42.89% |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | 16.46% |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | 7.31% |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | 36.98% |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 6.87% |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 52.66% |
| 10 | UP Fintech Holding | 13.78 Bn | 13.78 Bn | - | -17.87% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 25.46% |
| Mar 31, 2026 | 26.29% |
| Dec 31, 2025 | 23.76% |
| Sep 30, 2025 | 24.42% |
| Jun 30, 2025 | 20.20% |
| Mar 31, 2025 | 23.43% |
| Dec 31, 2024 | 21.97% |
| Sep 30, 2024 | 19.68% |
| Jun 30, 2024 | 19.59% |
| Mar 31, 2024 | 21.58% |
| Dec 31, 2023 | 10.72% |
| Sep 30, 2023 | 17.04% |
| Jun 30, 2023 | 15.23% |
| Mar 31, 2023 | 19.54% |
| Dec 31, 2022 | 16.57% |
| Sep 30, 2022 | 19.21% |
| Jun 30, 2022 | 18.21% |
| Mar 31, 2022 | 23.93% |
| Dec 31, 2021 | 24.73% |
| Sep 30, 2021 | 24.29% |