LPLA vs MS
LPL Financial Holdings Inc. and Morgan Stanley, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
At a glance
Most recent reported year
| Metric | LPLA | MS |
|---|---|---|
| Revenue | $17.0B | $70.6B |
| Net income | $863.0M | $16.9B |
| Gross margin | — | — |
| Net margin | 5.1% | 23.9% |
| Return on equity | 20.9% | 15.6% |
| Diluted EPS | $10.92 | $10.21 |
| Dividend / share | $1.20 | $3.85 |
| Payout ratio | 10.9% | 39.1% |
| Free cash flow | $-981.8M | — |
| Equity | $5.3B | $111.6B |
| Net debt / equity | 1.16× | 2.06× |
| Current ratio | — | — |
| Revenue CAGR 5y | 23.7% | 7.7% |
| Profit CAGR 5y | 12.8% | 8.9% |
MS bills 4.2× the revenue of LPLA, and keeps more of each dollar of revenue as profit (23.9% against 5.1%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner.
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Revenue by year
10 years side by side
| Fiscal year | LPLA | MS |
|---|---|---|
| FY2025 | $17.0B | $70.6B |
| FY2024 | $12.4B | $61.8B |
| FY2023 | $10.1B | $54.1B |
| FY2022 | $8.6B | $53.7B |
| FY2021 | $7.7B | $59.8B |
| FY2020 | $5.9B | $48.8B |
| FY2019 | $5.6B | $41.5B |
| FY2018 | $5.2B | $40.1B |
| FY2017 | $4.3B | $37.9B |
| FY2016 | $4.0B | $34.6B |
Net income by year
Bottom line
| Fiscal year | LPLA | MS |
|---|---|---|
| FY2025 | $863.0M | $16.9B |
| FY2024 | $1.1B | $13.4B |
| FY2023 | $1.1B | $9.1B |
| FY2022 | $845.7M | $11.0B |
| FY2021 | $459.9M | $15.0B |
| FY2020 | $472.6M | $11.0B |
| FY2019 | $559.9M | $9.0B |
| FY2018 | $439.5M | $8.7B |
| FY2017 | $238.9M | $6.1B |
| FY2016 | $191.9M | $6.0B |
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