MS vs MCD Comparison

Morgan Stanley is a massive global financial services firm, with offices in 42 countries and more than 80,000 employees as of year-end 2024. The firm cut its teeth in investment banking and institutional trading, where it maintains a strong presence today, but generates the lion share of its income from wealth and asset management franchises, where it boasted $7.9 trillion in client assets at the end of its most recent fiscal year. After reincorporation as a bank holding company in the wake of the great financial crisis, Morgan Stanley also boasts a top 10 banking franchise by deposits, with nearly $400 billion in customer deposits, predominately attributable to cash sweeps from its wealth management and brokerage businesses.

McDonald's is the largest restaurant owner-operator in the world, with 2024 system sales of $131 billion across more than 43,000 stores and 115 markets. McDonald's pioneered the franchise model, building its footprint through partnerships with independent restaurant franchisees and master franchise partners around the globe. The firm earns roughly 60% of its revenue from franchise royalty fees and lease payments, with most of the remainder coming from company-operated stores across its three core segments: the United States, internationally operated markets, and international developmental/licensed markets.