Filing Flows › Morgan Stanley (MS) › Q3 2026 › vs Q2 2026
Morgan Stanley (MS) Q3 2026 vs Q2 2026 (quarter over quarter)
Morgan Stanley's revenue fell $1.0B (-5%) from $21.3B in Q2 2026 to $20.3B in Q3 2026. Operating margin 31.9% against 34.4% (-2.6 pts).
Morgan Stanley, Q3 2026: revenue $20.3B (+12% year over year), operating margin 31.9%, net earnings $4.9B, operating cash flow −$46.0B. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 31.9% | 34.4% | -2.6 pts |
| Net margin | 24.1% | 26.1% | -2.0 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $20.3B | $21.3B | −$1.0B | -5% |
| Operating profit | $6.5B | $7.3B | −$870M | -12% |
| Costs & expenses | $13.9B | $14.0B | −$140M | -1% |
| Pre-tax earnings | $6.5B | $7.3B | −$870M | -12% |
| Sales & marketing | $347M | $401M | −$54.0M | -13% |
| Other operating costs | $13.5B | $13.6B | −$86.0M | -0.6% |
| Net earnings | $4.9B | $5.6B | −$672M | -12% |
| Minority interests | $60.0M | $72.0M | −$12.0M | -17% |
| Income tax | $1.5B | $1.7B | −$186M | -11% |
| Operating cash sources | $52.6B | $10.1B | $42.5B | +421% |
| Depreciation & amortization | $1.1B | $1.2B | −$85.0M | -7% |
| Share-based compensation | $542M | $562M | −$20.0M | -4% |
| Cash used in operations | $46.0B | $2.7B | $43.3B | 17× |
| Working capital & other | $52.6B | $10.1B | $42.5B | +421% |
Questions
How much did Morgan Stanley's revenue grow quarter over quarter in Q3 2026?
Morgan Stanley's revenue fell $1.0B (-5%) from $21.3B in Q2 2026 to $20.3B in Q3 2026. Operating margin 31.9% against 34.4% (-2.6 pts).