Comfortable leader
13 companies value 614 bn revenue 202 bn margin — free cash flow — avg. score 3.7
MS holds 45.6% of the group's value, 1.1x the runner-up · GS leads the industry without being the largest
| Rank | Ticker | Company | Share | Value | Revenue | Margin | FCF | 5 years | FCF/px | Yield | What it does · why it is here |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | MS | Morgan Stanley United States · score 3.2 | 46% | 280 bn | 78 bn | 25.8% | -16 bn | -5.6% | 2.4% | Investment banking, trading and wealth management · Leader in wealth management, with more stable revenue than peers | |
| 2 | GS | Goldman Sachs United States · score 3.3 | 42% | 255 bn | 66 bn | 31.7% | -42 bn | -16.3% | 2.4% | Investment banking, trading and asset management · Global leader in M&A and trading | |
| 3 | NMR | Nomura Holdings Japan · score 3.6 | 4% | 27 bn | 30 bn | 7.6% | -7.6 bn | -28.6% | 4.3% | Investment banking and brokerage in Japan · Japan's largest investment bank | |
| 4 | XP | XP Inc. Cayman Islands · score 6.6 | 3% | 16 bn | 1.6 bn | 64.9% | 2.4 bn | 15.0% | 0.6% | Investment platform and brokerage (XP, Rico, Clear), banking and asset management in Brazil · Cayman Islands — assets of $78.9bn | |
| 5 | FRHC | Freedom Holding Corp. United States · score 2.6 | 2% | 11 bn | 2.4 bn | 6.2% | -0.9 bn | -8.0% | — | Brokerage and bank from Kazakhstan, with payments and e-commerce · New York — assets of $14bn | |
| 6 | JEF | Jefferies Financial Group United States · score 3.5 | 2% | 10 bn | 12 bn | 7.5% | -1.7 bn | -17.1% | 3.7% | Investment banking and capital markets · The independent investment bank that gained the most ground over the last decade | |
| 7 | SF | STIFEL FINANCIAL CORP United States · score 6.5 | 2% | 10 bn | 6.7 bn | 14.3% | 0.4 bn | 3.6% | — | Investment banking, brokerage and wealth management · Missouri — assets of $44.9bn | |
| 8 | PIPR | PIPER SANDLER COMPANIES United States · score 7.1 | 1% | 4.5 bn | 2.1 bn | 14.5% | 0.5 bn | 11.3% | 3.1% | Investment banking and institutional brokerage · Minnesota — assets of $2.3bn | |
| 9 | OPY | OPPENHEIMER HOLDINGS INC United States · score 4.7 | 0% | 1.1 bn | 1.8 bn | 5.7% | -0.0 bn | -0.8% | 1.7% | Midsize investment bank and brokerage · New York — assets of $4.2bn | |
| 10 | COHN | Cohen & Co Inc. United States · score 4.8 | 0% | 0.0 bn | 0.3 bn | 5.6% | -0.0 bn | -26.0% | 12.8% | Capital markets financial services and asset management · Pennsylvania — assets of $800m | |
| 11 | DOMH | Dominari Holdings Inc. United States · score 0.0 | 0% | 0.0 bn | 0.1 bn | -53.2% | -0.0 bn | -37.3% | 32.5% | Holding company in wealth management, investment banking and insurance · New York — assets of $57m | |
| 12 | AXG | Solowin Holdings, Ltd. Hong Kong · score 1.4 | — | — | 0.0 bn | -47.4% | -0.0 bn | — | — | Brokerage and investment banking in Hong Kong · Hong Kong — assets of $51m | |
| 13 | LGHL | Lion Group Holding Ltd Singapore · score 1.4 | — | — | 0.0 bn | -52.8% | 0.0 bn | — | — | Securities and futures brokerage in Hong Kong · Singapore — assets of $55m |
Other industries in the same sector
- Sector overview
- Global banks (US) 4 companies
- Payments 7 companies
- International banks 22 companies
- Diversified holding companies 36 companies
- Continental European banks 5 companies
- Asian banks 6 companies
- Exchanges and financial data 12 companies
- Property and casualty insurance 27 companies
- Life insurance and annuities 24 companies
- Alternative assets and private equity 21 companies
- Traditional asset management 22 companies
- Insurance brokerage 27 companies
and 31 industries more
- Regional banks — US South 94 companies
- Regional banks — US Midwest 64 companies
- Brokerage and custody 16 companies
- Regional banks — US Northeast 75 companies
- UK banks 3 companies
- Indian banks 2 companies
- Payments infrastructure and fintech 26 companies
- Consumer credit and cards 18 companies
- Specialty insurance 29 companies
- Listed infrastructure 5 companies
- Custody and asset servicing 3 companies
- Digital and crypto brokerages 14 companies
- Digital banks 8 companies
- Regional banks — US West 50 companies
- Reinsurance 8 companies
- Crypto treasuries 50 companies
- Consumer lending fintech 22 companies
- BDCs (private credit) 50 companies
- Mortgage REITs (mREITs) 40 companies
- Crypto mining 34 companies
- Mortgage origination 11 companies
- Electronic trading platforms 3 companies
- Boutique investment banks 11 companies
- Stablecoins and crypto infrastructure 20 companies
- Title insurance 5 companies
- Cross-border remittances 5 companies
- Auto finance 4 companies
- Latin American fintech 3 companies
- Government-backed mortgage finance 3 companies
- Insurtech 4 companies
- Financial services (diversified) 3 companies
What this is. A catalogue, not a guide. Every industry with stocks listed on the NYSE or NASDAQ, the companies contending for its leadership, what each one does according to its own annual report, and the balance sheet it filed with the SEC.
The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.
The score runs from 0 to 10 and compares each company with every other one in the almanac on cash generation, profitability, debt, dividends and consistency over the last five years. The higher it is, the better the company fares in that comparison. Curious how much each part weighs? Ask at the bottom of the page.