HOOD vs MS: Robinhood Markets and Morgan Stanley compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Morgan Stanley is the larger company, worth $310.0B, about 3.3 times Robinhood Markets.
- Robinhood Markets grew revenue faster over the last year (+32.2% vs +27.1%).
- On earnings, Morgan Stanley is the cheaper stock (17.8x vs 51.1x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | HOOD | MS |
|---|---|---|
| Market cap | $94.9B | $310.0B |
| Share price | $109.02 | $190.02 |
| Revenue (last fiscal year) | $4.5B | $70.6B |
| Free cash flow (last fiscal year) | $1.6B | — |
| Revenue growth, last year | +32.2% | +27.1% |
| Revenue growth per year, last 5 fiscal years | +25.3% | +4.3% |
| Operating margin | — | — |
| Net margin | 42.0% | 25.8% |
| Return on equity | 21.7% | 17.3% |
| P/E (trailing) | 51.1x | 17.8x |
| Price / free cash flow | 58.5x | 6.73x |
| EV / EBITDA | 38.3x | 7.76x |
| FCF growth the price implies | 19.3% | — |
| Dividend yield | — | 2.1% |
| Debt / equity | 4.93x | 13.4x |
| Fundamental grade | C | B |
| Superinvestors holding it | 4 | 12 |
| Insider purchases, last 12 months | 10 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Robinhood Markets
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $1.8B | -$968M | — |
| 2022 | $1.4B | -$909M | — |
| 2023 | $1.9B | $1.2B | — |
| 2024 | $3.0B | -$194M | — |
| 2025 | $4.5B | $1.6B | — |
Morgan Stanley
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $59.8B | — | — |
| 2022 | $53.7B | — | — |
| 2023 | $54.1B | — | — |
| 2024 | $61.8B | — | — |
| 2025 | $70.6B | — | — |
Where the revenue comes from
Robinhood Markets
No segment breakdown reported.
Morgan Stanley · by segments, 2025
IS$33.1B46%
WM$31.8B44%
IM$6.5B9%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open HOOD in InvestinglyQuestions
Which is bigger, Robinhood Markets or Morgan Stanley?
Morgan Stanley (MS), at $310.0B against $94.9B.
Is HOOD or MS cheaper?
By trailing P/E, Morgan Stanley (17.8x) is cheaper than Robinhood Markets (51.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, HOOD or MS?
Robinhood Markets: revenue grew +32.2% over the last year, against +27.1%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.