Morgan Stanley (MS) Financial Statements
Industry: Security Brokers, Dealers & Flotation Companies
In fiscal 2025, Morgan Stanley reported revenue of $70.64B, up 14.4% from $61.76B the year before. Net income was $16.86B (a 23.9% net margin), or $10.21 per diluted share. Net interest income was $10.05B, and the efficiency ratio (noninterest expense / revenue) was 68.4%. Operating activities generated -$17.89B of cash. At fiscal year end, Morgan Stanley held $1.42T in total assets against $1.31T in total liabilities, including $111.69B of cash and equivalents.
Open the full interactive Morgan Stanley financials → Quarterly statements, key ratios, valuation history and price charts.
Morgan Stanley Key Stats
| Share Price | $186.64 |
|---|---|
| Market Cap | $292.84B |
| P/E Ratio | 18.3 |
| Dividend Yield | 2.31% |
| Revenue YoY Growth | +14.4% |
| 52-Week Range | $151.69 – $227.30 |
| Shares Outstanding | 1.55 billion (basic, 2026 Q2) |
Morgan Stanley Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $6.31B | $8.04B | $9.33B | $8.23B | $8.61B | $10.05B |
| Provision for Credit Losses | $559.0M | -$48.0M | — | — | — | — |
| Noninterest Income | $41.88B | $51.71B | $44.34B | $45.91B | $53.15B | $60.60B |
| Noninterest Expense | $33.78B | $40.08B | $39.30B | $41.80B | $43.90B | $48.34B |
| Revenue | $48.20B | $59.76B | $53.67B | $54.14B | $61.76B | $70.64B |
| Pre-Tax Income | $14.42B | $19.67B | $14.09B | $11.81B | $17.60B | $21.95B |
| Income Tax | $3.24B | $4.55B | $2.91B | $2.58B | $4.07B | $4.93B |
| Net Income | $11.00B | $15.03B | $11.03B | $9.09B | $13.39B | $16.86B |
| Diluted EPS | $6.46 | $8.03 | $6.15 | $5.18 | $7.95 | $10.21 |
Morgan Stanley Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $18.22B | $17.89B | $20.58B | $21.35B |
| Net Income | $4.61B | $4.40B | $5.57B | $5.58B |
| Diluted EPS | $2.80 | $2.76 | $3.43 | $3.46 |
Morgan Stanley Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $105.65B | $127.72B | $128.13B | $89.23B | $105.39B | $111.69B |
| Loans (Net) | — | — | $199.00B | $203.38B | $225.83B | $268.72B |
| Total Assets | $1.12T | $1.19T | $1.18T | $1.19T | $1.22T | $1.42T |
| Deposits | $310.78B | $347.57B | $356.65B | $351.80B | $376.01B | $415.52B |
| Total Long-Term Debt | $213.39B | $227.36B | $233.87B | $260.54B | $284.31B | $341.68B |
| Total Liabilities | $1.01T | $1.08T | $1.08T | $1.09T | $1.11T | $1.31T |
| Shareholders' Equity | $101.78B | $105.44B | $100.14B | $99.04B | $104.51B | $111.63B |
Morgan Stanley Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$25.23B | $33.97B | -$6.40B | -$33.54B | $1.36B | -$17.89B |
| Cash From Investing | -$37.90B | -$49.90B | -$11.63B | -$3.08B | -$29.46B | -$46.78B |
| Cash From Financing | $83.78B | $41.55B | $22.71B | -$2.73B | $46.76B | $67.76B |
| Dividends Paid | $2.74B | $4.17B | $5.40B | $5.76B | $6.14B | $6.59B |
Figures from Morgan Stanley's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Morgan Stanley financials page for every line item.
Morgan Stanley Company Profile
| Ticker | MS |
|---|---|
| Exchange | NYSE |
| Industry | Security Brokers, Dealers & Flotation Companies |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000895421 |
Frequently Asked Questions
What was Morgan Stanley's revenue in fiscal 2025?
Morgan Stanley (MS) reported revenue of $70.64B for fiscal 2025.
What is Morgan Stanley's annual revenue history?
Morgan Stanley's annual revenue by fiscal year: 2020: $48.20B; 2021: $59.76B; 2022: $53.67B; 2023: $54.14B; 2024: $61.76B; 2025: $70.64B.
What was Morgan Stanley's net income in fiscal 2025?
Morgan Stanley reported net income of $16.86B for fiscal 2025.
What was Morgan Stanley's earnings per share (EPS) in fiscal 2025?
Morgan Stanley's diluted EPS was $10.21 for fiscal 2025 (adjusted for any later stock splits).
What was Morgan Stanley's revenue last quarter?
In its most recent reported quarter (2026 Q2), Morgan Stanley reported revenue of $21.35B.
How much debt does Morgan Stanley have?
Morgan Stanley reported $341.68B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Morgan Stanley are outstanding?
Morgan Stanley reported a weighted average of 1.55 billion basic shares outstanding in 2026 Q2.
What is Morgan Stanley's market cap?
Based on its latest closing price, Morgan Stanley (MS) has a market capitalization of about $292.84B.
When does Morgan Stanley's fiscal year end?
Morgan Stanley's fiscal year end, as registered with the SEC, is December 31.
Where is Morgan Stanley headquartered?
Morgan Stanley lists its business address in New York, New York in its SEC filings.
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