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Morgan Stanley MS Free cash flow margin

Free cash flow margin at other companies

Charles Schwab Corporation logo
Charles Schwab CorporationSCHW
176.7%
Raymond James Financial logo
Raymond James FinancialRJF
16.2%+1.7pp
Ameriprise Financial logo
Ameriprise FinancialAMP
36.7%-1.6pp
Citigroup logo
CitigroupC
-71.1%
Goldman Sachs Group logo
Goldman Sachs GroupGS
-108.3%
Interactive Brokers Group, Inc. logo
Interactive Brokers Group, Inc.IBKR
260%+83.0pp

Other financials

Income statement

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Revenue$20.6B+16.0%
Net income$5.6B+29.0%
EPS (diluted)$3.43+31.9%

Balance sheet

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Cash & equivalents$133.53B+47.2%
Total debt$371.57B+18.4%
Total equity$114.29B+7.0%
Total assets$1.58T+21.6%

Cash flow

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Operating cash flow-$7.1B+70.4%
CapEx$754.0M+5.8%
Free cash flow-$7.9B+68.2%

Valuation

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Market cap$352B+38.9%
Enterprise value$590.04B+21.4%
P/E19.4×+1.7×
P/S4.8×+0.9×

Profitability

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Net margin24.6%+2.4pp

Returns & leverage

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Return on equity16.4%+2.5pp
Debt / equity3.3×+0.3×

Where this comes from

Calculated from Morgan Stanley’s reported figures.

Based on trailing twelve months.

The official record: Morgan Stanley’s 10-Q, filed November 3, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Morgan Stanley's free cash flow margin?
Morgan Stanley (MS) reported free cash flow margin of -54.3% in Q3 2024.
How has Morgan Stanley's free cash flow margin changed year-over-year?
Morgan Stanley's free cash flow margin increased by 18.3% year-over-year, from -66.4% to -54.3%.
What is the long-term trend for Morgan Stanley's free cash flow margin?
Over 2 years (2021 to 2023), Morgan Stanley's free cash flow margin has grown at a 304.4% compound annual growth rate (CAGR), from 15.8% to -259.1%.
What does free cash flow margin mean?
How much real, spendable cash each sales dollar generates after reinvestment.
How do you interpret free cash flow margin?
A high and rising FCF margin is the hallmark of a cash-generative business. Persistent gaps between net margin and FCF margin warrant a look at working capital or capital intensity.
How does free cash flow margin compare across companies?
Strong cross-company quality signal; capital-light compounders post structurally higher FCF margins than asset-heavy peers.