Morgan Stanley vs Stifel
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The short version
- Morgan Stanley is the larger business, with $70.6B of revenue in fiscal 2025 against $6.3B for Stifel, about 11 times as much.
- Morgan Stanley grew revenue faster (14.4%, against 6.7%).
- Investors pay more for each dollar of Morgan Stanleyβs earnings: a P/E of 14.5x against 11.9x for Stifel.
| Latest fiscal year | MS Β· FY25 | SF Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $285.7B | $7.3B |
| Revenue | $70.6B | $6.3B |
| Free cash flow | β | β |
| Net income | $16.9B | $684M |
| Growth | ||
| Revenue growth | 14.4% | 6.7% |
| 5-year growth | 7.7% | 10.7% |
| Share count change | β1.2% | β0.8% |
| Profitability | ||
| Gross margin | β | β |
| Operating margin | β | β |
| Net margin | 23.9% | 10.8% |
| FCF margin | β | β |
| Return on capital | β | β |
| Return on equity | 15.6% | 11.7% |
| Balance sheet | ||
| Net debt | β | β |
| Net debt / EBITDA | β | β |
| Dividends and buybacks | $6.6B | $245M |
| Valuation & quality | ||
| P/E | 14.5x | 11.9x |
| Piotroski F-score | β | β |
Revenue
FY16
MS $34.6B
SF $2.6B
FY17
MS $37.9B
SF $3.0B
FY18
MS $40.1B
SF $3.2B
FY19
MS $41.5B
SF $3.5B
FY20
MS $48.8B
SF $3.8B
FY21
MS $59.8B
SF $4.8B
FY22
MS $53.7B
SF $4.6B
FY23
MS $54.1B
SF $5.2B
FY24
MS $61.8B
SF $6.0B
FY25
MS $70.6B
SF $6.3B
MS
SF
Operating margin
FY16
MS β
SF β
FY17
MS β
SF β
FY18
MS β
SF β
FY19
MS β
SF β
FY20
MS β
SF β
FY21
MS β
SF β
FY22
MS β
SF β
FY23
MS β
SF β
FY24
MS β
SF β
FY25
MS β
SF β
MS
SF
Free cash flow
FY16
MS β
SF β
FY17
MS β
SF β
FY18
MS β
SF β
FY19
MS β
SF β
FY20
MS β
SF β
FY21
MS β
SF β
FY22
MS β
SF β
FY23
MS β
SF β
FY24
MS β
SF β
FY25
MS β
SF β
MS
SF
Return on capital
FY16
MS β
SF β
FY17
MS β
SF β
FY18
MS β
SF β
FY19
MS β
SF β
FY20
MS β
SF β
FY21
MS β
SF β
FY22
MS β
SF β
FY23
MS β
SF β
FY24
MS β
SF β
FY25
MS β
SF β
MS
SF
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.