MS vs SCHW
Morgan Stanley and Schwab Charles Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | MS | SCHW |
|---|---|---|
| Revenue | $70.6B | $23.9B |
| Net income | $16.9B | $8.9B |
| Gross margin | · | · |
| Net margin | 24.1% | 37.0% |
| Return on equity | 15.6% | 18.1% |
| Diluted EPS | $10.21 | $4.65 |
| Dividend / share | $3.85 | $1.08 |
| Payout ratio | 39.1% | 26.3% |
| Free cash flow | · | $8.8B |
| Equity | $111.6B | $49.4B |
| Net debt / equity | 2.06× | −0.34× |
| Current ratio | · | · |
| Revenue CAGR 5y | 7.7% | 15.4% |
| Profit CAGR 5y | 8.9% | 21.8% |
MS bills 3.0× the revenue of SCHW, and SCHW keeps more of each dollar of revenue as profit (37.0% 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 | MS | SCHW |
|---|---|---|
| FY2025 | $70.6B | $23.9B |
| FY2024 | $61.8B | $19.6B |
| FY2023 | $54.1B | $18.8B |
| FY2022 | $53.7B | $20.8B |
| FY2021 | $59.8B | $18.5B |
| FY2020 | $48.8B | $11.7B |
| FY2019 | $41.5B | $10.7B |
| FY2018 | $40.1B | $10.1B |
| FY2017 | $37.9B | $8.6B |
| FY2016 | $34.6B | $7.5B |
Bottom line
| Fiscal year | MS | SCHW |
|---|---|---|
| FY2025 | $16.9B | $8.9B |
| FY2024 | $13.4B | $5.9B |
| FY2023 | $9.1B | $5.1B |
| FY2022 | $11.0B | $7.2B |
| FY2021 | $15.0B | $5.9B |
| FY2020 | $11.0B | $3.3B |
| FY2019 | $9.0B | $3.7B |
| FY2018 | $8.7B | $3.5B |
| FY2017 | $6.1B | $2.4B |
| FY2016 | $6.0B | $1.9B |
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$46,724,000,000 | MS |
| FY2024 | +$42,155,000,000 | MS |
| FY2023 | +$35,306,000,000 | MS |
| FY2022 | +$32,906,000,000 | MS |
| FY2021 | +$41,235,000,000 | MS |
| FY2020 | +$37,066,000,000 | MS |
| FY2019 | +$30,817,000,000 | MS |
| FY2018 | +$29,975,000,000 | MS |
| FY2017 | +$29,327,000,000 | MS |
| FY2016 | +$27,153,000,000 | MS |
| FY2015 | +$28,775,000,000 | MS |
| FY2014 | +$28,217,000,000 | MS |
| FY2013 | +$27,058,000,000 | MS |
| FY2012 | +$21,295,000,000 | MS |
| FY2011 | +$27,536,000,000 | MS |
| FY2010 | +$26,982,000,000 | MS |
| FY2009 | +$19,087,000,000 | MS |
| FY2008 | +$16,990,000,000 | MS |
| FY2007 | +$21,484,000,000 | MS |
MS has reported the higher revenue in every one of these 19 fiscal years. The gap has widened since the earliest year compared.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
19 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −12.9 pp | SCHW |
| FY2024 | −8.4 pp | SCHW |
| FY2023 | −9.9 pp | SCHW |
| FY2022 | −13.8 pp | SCHW |
| FY2021 | −6.3 pp | SCHW |
| FY2020 | −5.3 pp | SCHW |
| FY2019 | −12.3 pp | SCHW |
| FY2018 | −12.5 pp | SCHW |
| FY2017 | −10.9 pp | SCHW |
| FY2016 | −7.6 pp | SCHW |
| FY2015 | −4.8 pp | SCHW |
| FY2014 | −11.1 pp | SCHW |
| FY2013 | −8.6 pp | SCHW |
| FY2012 | −16.3 pp | SCHW |
| FY2011 | −4.0 pp | SCHW |
| FY2010 | +7.6 pp | MS |
| FY2009 | −12.7 pp | SCHW |
| FY2008 | −15.5 pp | SCHW |
| FY2007 | −35.9 pp | SCHW |
The higher net margin has changed hands between MS and SCHW over this period.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SCHW's net margin has been more volatile than MS's over the 19 comparable fiscal years — 8.4 percentage points of standard deviation against 6.3.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between MS and SCHW over these 19 fiscal years — MS led in 1 and SCHW in 18.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SCHW's return on equity has been more volatile than MS's over the 19 comparable fiscal years — 12.3 percentage points of standard deviation against 3.9.
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 MS and SCHW over these 19 fiscal years — MS led in 3 and SCHW in 16.
19 of 19 comparable fiscal years — a year missing data on either side is not counted.