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Galaxy Digital vs Morgan Stanley: revenue, profit, margins and growth compared

Galaxy Digital brought in $60.4B of revenue in fiscal 2025, Morgan Stanley $70.6B in fiscal 2025. Revenue changed by +41.8% at Galaxy Digital and +14.4% at Morgan Stanley on the year before, so Galaxy Digital grew faster. Galaxy Digital kept -0.4% of its revenue as net profit, Morgan Stanley 23.9%.

Side by side, latest fiscal year

GLXYMS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$60.4B$70.6B
Revenue growth+41.8%+14.4%
Net income-$241.3M$16.9B
Net margin-0.4%23.9%
Free cash flow-$1.5Bn/a
Free cash flow margin-2.5%n/a
Earnings per share (diluted)n/a$10.21
Cash$1.2B$111.7B
Debtn/a$341.7B
Price to earningsn/a19.2
Market value$9.5B$308.3B
Dividend yieldn/a1.96%
Rank by revenue in sector#12 of 444 · Finance#9 of 444 · Finance

Over the years

Revenue
GLXY FY2023: $51.6BGLXY FY2025: $42.6BGLXY FY2025: $60.4BMS FY2018: $40.1BMS FY2019: $41.5BMS FY2020: $48.8BMS FY2021: $59.8BMS FY2022: $53.7BMS FY2023: $54.1BMS FY2024: $61.8BMS FY2025: $70.6BFY18FY19FY20FY21FY22FY23FY24FY25
GLXY $60.4BMS $70.6B
Net income
GLXY FY2023: $228.5MGLXY FY2025: $346.7MGLXY FY2025: -$241.3MMS FY2018: $8.7BMS FY2019: $9BMS FY2020: $11BMS FY2021: $15BMS FY2022: $11BMS FY2023: $9.1BMS FY2024: $13.4BMS FY2025: $16.9BFY18FY19FY20FY21FY22FY23FY24FY25
GLXY -$241.3MMS $16.9B
Net margin
GLXY FY2023: 0.4%GLXY FY2025: 0.8%GLXY FY2025: -0.4%MS FY2018: 21.8%MS FY2019: 21.8%MS FY2020: 22.6%MS FY2021: 25.2%MS FY2022: 20.6%MS FY2023: 16.8%MS FY2024: 21.7%MS FY2025: 23.9%FY18FY19FY20FY21FY22FY23FY24FY25
GLXY -0.4%MS 23.9%
Revenue growth
GLXY FY2025: -17.5%GLXY FY2025: +41.8%MS FY2019: +3.6%MS FY2020: +17.4%MS FY2021: +22.6%MS FY2022: -10.2%MS FY2023: +0.9%MS FY2024: +14.1%MS FY2025: +14.4%FY19FY20FY21FY22FY23FY24FY25
GLXY +41.8%MS +14.4%
Free cash flow
GLXY FY2023: -$49.7MGLXY FY2025: -$264.1MGLXY FY2025: -$1.5BFY23FY25
GLXY -$1.5BMS

Fiscal years as each company reports them; the two may end in different months.

Questions about Galaxy Digital and Morgan Stanley

Which is bigger by revenue, Galaxy Digital or Morgan Stanley?

Morgan Stanley is bigger by revenue: $70.6B in fiscal 2025, against $60.4B for Galaxy Digital in fiscal 2025.

Which keeps more of its revenue as profit, Galaxy Digital or Morgan Stanley?

Galaxy Digital had a net margin of -0.4% in fiscal 2025; Morgan Stanley had 23.9% in fiscal 2025.

Which grew revenue faster, Galaxy Digital or Morgan Stanley?

In their latest fiscal years revenue changed by +41.8% at Galaxy Digital and +14.4% at Morgan Stanley.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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