Company financials

Morgan Stanley

Financials Investment Banking & Brokerage New York City, New York Last filing Feb 19, 2026 · FY2025

                    Revenue
                    FY2025
                
$70.6B
                    3y CAGR +9.6%
                    
                    P29
                    
                    +14.4%
                    
                    Net income
                    FY2025
                
$16.9B
                    Net margin +23.9%
                    
                    P48
                    
                    +25.9%
                    
                    Total assets
                    FY2025
                
$1.4T
                    ROA +1.2%
                    
                    P28
                    
                    +16.9%
                    
                    Operating cash flow
                    FY2025
                
$-17.9B
                    FCF margin -29.4%
                    
                    P9
                    
                    -1413.4%

19 yrs · FY2007–FY2025 8 filed · 0 derived · 1 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Year-over-year change per cell; first column has no prior.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 10 years

Total assets $1.4T

Total liabilities $1.3T

Shareholders equity $111.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	+6.0%	+18.1%	-30.4%	+0.3%	+20.9%	+28.6%	+58.5%	+12.3%	+6.4%	—
Cash Segregated	+12.3%	+4.6%	-6.2%	-1.0%	+9.2%	+17.4%	-9.3%	+3.2%	-8.3%	—
Trading Assets	+29.0%	-9.6%	+21.8%	+2.2%	-5.7%	+5.3%	+11.6%	-10.7%	+13.8%	—
Brokerage Receivables	+33.2%	+7.6%	+2.0%	-18.2%	-1.8%	+75.6%	+4.4%	-5.1%	+20.9%	—
Other Assets	+9.8%	+5.6%	+0.1%	+1.2%	+13.1%	+39.7%	-0.6%	+10.1%	+3.0%	—
Total Assets	+16.9%	+1.8%	+1.1%	-0.7%	+6.5%	+24.6%	+4.9%	+0.2%	+4.5%	—
Liabilities
Brokerage Payables	+28.7%	-15.5%	-3.7%	-5.5%	+0.5%	+15.0%	+10.2%	-6.2%	+0.5%	—
Trading Liabilities	+10.6%	+1.5%	-2.1%	-0.3%	+3.2%	+16.6%	+2.3%	-4.3%	+0.6%	—
Short Term Borrowings	+24.6%	+6.3%	+9.8%	+1.1%	+7.7%	+8.4%	+5.1%	-4.4%	+12.4%	—
Other Liabilities	+10.1%	+6.4%	-1.1%	+1.9%	+12.0%	+59.0%	+3.2%	+16.1%	+2.8%	—
Total Liabilities	+17.8%	+1.5%	+1.4%	-0.2%	+6.8%	+24.6%	+5.3%	-0.1%	+4.8%	—
Equity
Total Stockholders Equity	+6.8%	+5.5%	-1.1%	-5.0%	+3.6%	+24.8%	+1.6%	+3.7%	+1.8%	—
Preferred Stock	+0.0%	+11.4%	+0.0%	+12.9%	-16.2%	+8.6%	+0.0%	+0.0%	+13.3%	—
Common Stock	-1.0%	+4.0%	-8.9%	-23.5%	-30.2%	-4.3%	-2.9%	+2.5%	-2.0%	—
Additional Paid In Capital	+3.2%	+1.2%	+1.7%	+1.7%	+12.9%	+6.7%	+0.6%	+1.1%	+1.2%	—
Retained Earnings	+9.6%	+7.1%	+3.3%	+6.1%	+13.6%	+11.5%	+10.0%	+11.5%	+7.3%	—
Treasury Stock	+13.3%	+7.9%	+17.2%	+51.9%	+79.2%	-47.8%	+34.0%	+51.7%	+58.9%	—
Accumulated Other Comprehensive Income	+7.8%	-6.1%	-2.7%	-101.6%	-58.1%	+29.6%	-21.6%	+25.1%	-15.8%	—
Other Equity	+2.6%	-3.8%	+4.8%	+16.8%	+15.9%	+8.5%	+1.8%	+0.4%	+0.1%	—
Total Liabilitiesand Equity	+16.9%	+1.8%	+1.1%	-0.7%	+6.5%	+24.6%	+4.9%	+0.2%	+4.5%	—

Income Statement

Revenue, expense, and profitability

9 accounts · 10 years

Revenue $70.6B

Operating income Not reported

Net income $16.9B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	+14.4%	+14.1%	+0.9%	-10.2%	+22.6%	+17.4%	+3.6%	+5.7%	+9.6%	—
Expenses Operating Expenses	+10.2%	+4.3%	+7.0%	-1.3%	+16.7%	+13.6%	+4.7%	+4.8%	+6.8%	—
Other Income Expense Income Before Tax	+24.8%	+49.0%	-16.2%	-28.4%	+36.4%	+27.6%	+0.6%	+8.0%	+17.6%	—
Income Tax Income Tax Expense	+21.2%	+57.5%	-11.2%	-36.0%	+40.4%	+56.9%	-12.2%	-43.6%	+52.9%	—
net Income Other Items Below Tax	-6.4%	-4.1%	-9.5%	-15.3%	+18.4%	+6.3%	-9.0%	-2.8%	-5.4%	—
net Income net Income	+25.9%	+47.4%	-17.6%	-26.6%	+36.7%	+21.6%	+3.4%	+43.2%	+2.2%	—
Earnings Per Share Basic Eps	+28.4%	+53.4%	-15.9%	-23.7%	+24.6%	+24.5%	+9.4%	+53.2%	+5.4%	—
Earnings Per Share Diluted Eps	+28.4%	+53.5%	-15.8%	-23.4%	+24.3%	+24.5%	+9.7%	+54.1%	+5.1%	—
Earnings Per Share Weighted Average Shares Diluted	-1.2%	-2.1%	-3.9%	-5.6%	+11.7%	-1.0%	-5.6%	-4.6%	-3.5%	—

Cash Flow Statement

Operating, investing, and financing flows

14 accounts · 10 years

Operating cash flow $-17.9B

Investing cash flow $-46.8B

Financing cash flow $67.8B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Cash From Operating Activities	-1413.4%	+104.1%	-424.2%	-118.8%	+234.6%	-161.9%	+458.2%	+262.2%	-284.1%	—
Operating Activities net Income	+25.8%	+46.6%	-17.4%	-26.1%	+35.3%	+21.0%	+4.0%	+42.9%	+1.5%	—
Operating Activities Depreciation and Amortization	-9.7%	+21.3%	+6.5%	-5.2%	+11.9%	+42.6%	+43.3%	+5.2%	+1.0%	—
Operating Activities Stock Based Compensation	+18.7%	-5.1%	-8.9%	-10.1%	+58.9%	+13.8%	+25.3%	-10.3%	-9.7%	—
Operating Activities Other Non Cash Items	-119.0%	+61.1%	-107.8%	-286.8%	+130.2%	-249.6%	+738.9%	+67.8%	-106.2%	—
Investing Activities net Cash From Investing Activities	-58.8%	-855.3%	+73.5%	+76.7%	-31.7%	-12.9%	-46.7%	-84.7%	+36.5%	—
Investing Activities Capital Expenditures	+16.3%	-1.5%	-10.9%	-33.4%	-59.8%	+20.9%	+2.1%	-14.5%	-27.7%	—
Investing Activities Other Investing Activities	-68.8%	-8026.2%	+103.8%	+82.0%	-18.2%	-26.9%	-51.0%	-95.3%	+41.0%	—
Financing Activities net Cash From Financing Activities	+44.9%	+1815.2%	-112.0%	-45.3%	-50.4%	+800.2%	-149.4%	+48.9%	+119.0%	—
Financing Activities Dividends Paid	-7.4%	-6.5%	-6.7%	-29.5%	-52.3%	-4.3%	-10.6%	-13.9%	-13.2%	—
Financing Activities Repurchase of Common Stock	-39.0%	+32.0%	+43.2%	+10.0%	-538.9%	+68.3%	-7.0%	-29.7%	-9.1%	—
Financing Activities Other Financing Activities	+40.4%	+519.6%	-76.4%	-32.5%	-34.6%	+2711.9%	-110.5%	+42.0%	+71.5%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+228.6%	-655.2%	+110.5%	-20.6%	-225.5%	+1143.5%	+85.2%	-149.8%	+444.6%	—
Cash Reconciliation net Change In Cash	-60.9%	+141.5%	-9775.4%	-98.2%	-6.0%	+567.3%	-173.9%	+124.1%	+128.4%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	—	—	—	—	—	—	—	—	—	—
Net margin	+23.9%	+21.7%	+16.8%	+20.6%	+25.2%	+22.6%	+21.8%	+21.8%	+16.1%	+17.3%
FCF margin	-29.4%	-3.4%	-68.2%	-17.7%	+53.0%	-54.7%	+93.8%	+13.6%	-16.2%	+3.4%
Growth
Revenue CAGR (3y)	+9.6%	+1.1%	+3.6%	+8.9%	+14.2%	+8.7%	+6.2%	+4.5%	+3.4%	+2.1%
Returns
ROE	+15.1%	+12.8%	+9.2%	+11.0%	+14.3%	+10.8%	+11.1%	+10.9%	+7.9%	+7.9%
ROA	+1.2%	+1.1%	+0.8%	+0.9%	+1.3%	+1.0%	+1.0%	+1.0%	+0.7%	+0.7%
ROIC	—	—	—	—	—	—	—	—	—	—
Liquidity
Current ratio	—	—	—	—	—	—	—	—	—	—
Quick ratio	—	—	—	—	—	—	—	—	—	—
Leverage
D/E	11.71x	10.62x	11.04x	10.77x	10.26x	9.95x	9.97x	9.62x	9.99x	9.70x
Interest coverage	—	—	—	—	—	—	—	—	—	—
Efficiency
Asset turnover	0.05x	0.05x	0.05x	0.05x	0.05x	0.04x	0.05x	0.05x	0.04x	0.04x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No price data cached, so there is nothing to multiply. Load prices from the Stock Data tab and this panel reprices itself.

Notes

Your annotations

Not watched

Morgan Stanley

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Recent price history