BLK vs MS
BlackRock, Inc. and Morgan Stanley, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | BLK | MS |
|---|---|---|
| Revenue | $24.2B | $70.6B |
| Net income | $5.6B | $16.9B |
| Gross margin | · | · |
| Net margin | 24.5% | 24.1% |
| Return on equity | 10.7% | 15.6% |
| Diluted EPS | $35.31 | $10.21 |
| Dividend / share | $20.84 | $3.85 |
| Payout ratio | · | 39.1% |
| Free cash flow | $3.6B | · |
| Equity | $55.9B | $111.6B |
| Net debt / equity | 0.02× | 2.06× |
| Current ratio | · | · |
| Revenue CAGR 5y | 8.4% | 7.7% |
| Profit CAGR 5y | 2.4% | 8.9% |
MS bills 2.9× the revenue of BLK, and BLK keeps more of each dollar of revenue as profit (24.5% against 24.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | BLK | MS |
|---|---|---|
| FY2025 | $24.2B | $70.6B |
| FY2024 | $20.4B | $61.8B |
| FY2023 | $17.9B | $54.1B |
| FY2022 | $17.9B | $53.7B |
| FY2021 | $19.4B | $59.8B |
| FY2020 | $16.2B | $48.8B |
| FY2019 | $14.5B | $41.5B |
| FY2018 | $14.2B | $40.1B |
| FY2017 | $13.6B | $37.9B |
| FY2016 | $12.3B | $34.6B |
Bottom line
| Fiscal year | BLK | MS |
|---|---|---|
| FY2025 | $5.6B | $16.9B |
| FY2024 | $6.4B | $13.4B |
| FY2023 | $5.5B | $9.1B |
| FY2022 | $5.2B | $11.0B |
| FY2021 | $5.9B | $15.0B |
| FY2020 | $4.9B | $11.0B |
| FY2019 | $4.5B | $9.0B |
| FY2018 | $4.3B | $8.7B |
| FY2017 | $5.0B | $6.1B |
| FY2016 | $3.2B | $6.0B |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$46,429,000,000 | MS |
| FY2024 | −$41,354,000,000 | MS |
| FY2023 | −$36,284,000,000 | MS |
| FY2022 | −$35,795,000,000 | MS |
| FY2021 | −$40,381,000,000 | MS |
| FY2020 | −$32,552,000,000 | MS |
| FY2019 | −$26,999,000,000 | MS |
| FY2018 | −$25,909,000,000 | MS |
| FY2017 | −$24,345,000,000 | MS |
| FY2016 | −$22,370,000,000 | MS |
MS has reported the higher revenue in every one of these 10 fiscal years. The gap has widened since the earliest year compared.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +0.4 pp | BLK |
| FY2024 | +10.0 pp | BLK |
| FY2023 | +14.7 pp | BLK |
| FY2022 | +7.1 pp | BLK |
| FY2021 | +6.7 pp | BLK |
| FY2020 | +9.7 pp | BLK |
| FY2019 | +8.9 pp | BLK |
| FY2018 | +8.2 pp | BLK |
| FY2017 | +20.3 pp | BLK |
| FY2016 | +8.1 pp | BLK |
BLK has kept the higher net margin in every one of these 10 fiscal years.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
BLK's net margin has been more volatile than MS's over the 10 comparable fiscal years — 3.4 percentage points of standard deviation against 2.9.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
BLK led in net margin in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MS's return on equity has been more volatile than BLK's over the 19 comparable fiscal years — 3.9 percentage points of standard deviation against 3.1.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between BLK and MS over these 19 fiscal years — BLK led in 16 and MS in 3.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.