Morgan Stanley vs Raymond James Financial
Morgan Stanley reported revenue of $70.6 billion in fiscal 2025, 4.4 times Raymond James Financial's $15.9 billion in fiscal 2025. Morgan Stanley's revenue grew 14.4% in its latest year, and Raymond James Financial's grew 6.6%. Morgan Stanley had a return on equity of 15.6%, against 17.7% at Raymond James Financial. Their fiscal years end in different months (December 31 and September 30), so the periods don't line up exactly.
Side by side
| Morgan Stanley | Raymond James Financial | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Sep 30, 2025 |
| Revenue | $70.6B | $15.9B |
| Revenue growth | 14.4% | 6.6% |
| Revenue growth a year, last 5 years | 7.7% | 14.3% |
| Net income | $16.9B | $2.1B |
| Return on equity | 15.6% | 17.7% |
| Return on tangible common equity | 19.1% | 21.0% |
| Efficiency ratio | 68.4% | 71.3% |
| Dividends and buybacks | $6.6B | $416M |
| Change in diluted share count | −1.2% | −2.7% |
| Last close | $183.49 | $158.07 |
| P/E at the last close | 14.8× | 13.8× |
| Insider trades, last 12 months | sold $68.2 million | sold $30.4 million |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Morgan StanleyRaymond James Financial
Return on equity
Percent. Net income over average equity.
Morgan StanleyRaymond James Financial
Net income
US$ billions
Morgan StanleyRaymond James Financial
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Morgan Stanley and Raymond James Financial pages.