Filing Flows › Morgan Stanley (MS) › Q2 2026 › vs Q2 2025
Morgan Stanley (MS) Q2 2026 vs Q2 2025 (year over year)
Morgan Stanley's revenue rose $4.6B (+27%) from $16.8B in Q2 2025 to $21.3B in Q2 2026. Operating margin 34.4% against 27.5% (+6.9 pts).
Morgan Stanley, Q2 2026: revenue $21.3B (+27% year over year), operating margin 34.4%, net earnings $5.6B, operating cash flow −$2.7B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 34.4% | 27.5% | +6.9 pts |
| Net margin | 26.1% | 21.1% | +5.1 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $21.3B | $16.8B | $4.6B | +27% |
| Operating profit | $7.3B | $4.6B | $2.7B | +59% |
| Costs & expenses | $14.0B | $12.2B | $1.8B | +15% |
| Pre-tax earnings | $7.3B | $4.6B | $2.7B | +59% |
| Sales & marketing | $401M | $297M | $104M | +35% |
| Other operating costs | $13.6B | $11.9B | $1.7B | +15% |
| Net earnings | $5.6B | $3.5B | $2.0B | +58% |
| Minority interests | $72.0M | $36.0M | $36.0M | +100% |
| Income tax | $1.7B | $1.0B | $648M | +62% |
| Operating cash sources | $10.1B | −$6.5B | $16.6B | — |
| Depreciation & amortization | $1.2B | $1.3B | −$105M | -8% |
| Share-based compensation | $562M | $469M | $93.0M | +20% |
| Cash used in operations | $2.7B | −$11.8B | $14.6B | — |
| Working capital & other | $10.1B | −$6.5B | $16.6B | — |
Questions
How much did Morgan Stanley's revenue grow year over year in Q2 2026?
Morgan Stanley's revenue rose $4.6B (+27%) from $16.8B in Q2 2025 to $21.3B in Q2 2026. Operating margin 34.4% against 27.5% (+6.9 pts).