◆ TICKERBASE · US STOCK FINANCIAL DATA LIBRARY

Home › All stocks › MS

Morgan Stanley (MS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

FINANCIAL SERVICES · Investment Banking & Brokerage · DATA UPDATED 2026-07-12

Morgan Stanley (MS) operates in the Investment Banking & Brokerage industry and is headquartered in New York, United States with about 82,944 employees. Its market capitalization is roughly $337 billion. In the fiscal year ended 2025-12-31, MS reported $115.0B in revenue and $16.9B in net income.

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Asia, Europe, the Middle East, and Africa.

Interactive charts & full statements → Open the MS valuation workbench →

MS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$120.2B	$115.0B	$103.1B	$88.3B	$62.5B	$57.8B	$49.7B	$51.4B	$47.8B	$41.5B	$36.0B	$36.0B	$36.1B	$35.2B	$30.5B	$37.5B	$35.8B	$28.3B	$53.9B	$82.3B	$69.4B
Gross Profit	$69.7B	$65.6B	$57.4B	$50.1B	$49.9B	$56.4B	$45.1B	$38.9B	$37.7B	$35.9B	$32.7B	$33.3B	$32.5B	$30.8B	$24.6B	$30.6B	$29.4B	$21.6B	$17.7B	$25.0B	$27.7B
Gross Margin %	58.0%	57.1%	55.6%	56.8%	79.9%	97.6%	90.7%	75.6%	78.9%	86.3%	90.8%	92.4%	89.8%	87.4%	80.7%	81.6%	82.1%	76.4%	32.8%	30.4%	40.0%
Operating Income (EBIT)	$23.4B	$22.0B	$17.6B	$11.8B	$14.1B	$19.7B	$14.4B	$11.3B	$11.2B	$10.4B	$8.8B	$8.5B	$3.6B	$4.6B	$596M	$6.1B	$6.2B	$1.1B	$1.3B	$2.8B	$9.1B
Operating Margin %	19.5%	19.1%	17.1%	13.4%	22.6%	34.0%	29.0%	22.0%	23.5%	25.0%	24.6%	23.6%	9.9%	12.9%	1.9%	16.3%	17.3%	4.0%	2.3%	3.4%	13.1%
Net Income	$18.2B	$16.9B	$13.4B	$9.1B	$11.0B	$15.0B	$11.0B	$9.0B	$8.7B	$6.1B	$6.0B	$6.1B	$3.5B	$2.9B	$66M	$4.1B	$4.7B	$1.3B	$1.7B	$3.2B	$7.5B
Net Margin %	15.1%	14.7%	13.0%	10.3%	17.6%	26.0%	22.1%	17.6%	18.3%	14.7%	16.6%	17.0%	9.6%	8.3%	0.2%	10.9%	13.2%	4.8%	3.2%	3.9%	10.8%
EBITDA	$27.9B	$26.6B	$22.8B	$16.1B	$18.1B	$23.9B	$18.2B	$13.9B	$13.1B	$12.2B	$10.6B	$9.9B	$4.8B	$6.1B	$2.2B	$7.5B	$7.6B	$2.4B	$2.0B	$3.3B	$9.9B
Earnings Per Share (EPS)	$11.41	$10.58	$8.31	$5.52	$6.44	$8.29	$6.77	$5.51	$5.03	$3.36	$3.17	$3.14	$1.76	$1.50	$0.03	$2.44	$3.33	$1.14	$1.56	$3.04	$7.08
Shares Outstanding (M)	1,593M	1,593M	1,611M	1,646M	1,713M	1,814M	1,624M	1,640M	1,738M	1,821M	1,887M	1,953M	1,971M	1,957M	1,919M	1,675M	1,411M	1,185M	1,096M	1,054M	1,055M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$33.1B	$28.9B	$30.0B	$28.2B	$27.9B	$26.0B	$26.3B	$25.5B
Gross Profit	$20.5B	$16.7B	$17.1B	$15.4B	$16.4B	$14.9B	$14.3B	$13.9B
Gross Margin %	61.8%	58.0%	56.9%	54.7%	58.7%	57.5%	54.2%	54.7%
Operating Income (EBIT)	$7.0B	$5.8B	$6.0B	$4.6B	$5.5B	$4.9B	$4.2B	$4.1B
Operating Margin %	21.1%	20.0%	20.1%	16.4%	19.9%	18.9%	16.0%	16.0%
Net Income	$5.6B	$4.4B	$4.6B	$3.5B	$4.3B	$3.7B	$3.2B	$3.1B
Net Margin %	17.0%	15.2%	15.3%	12.6%	15.5%	14.3%	12.1%	12.1%
EBITDA	$7.7B	$6.9B	$7.4B	$5.9B	$6.4B	$6.6B	$5.5B	$5.3B
Earnings Per Share (EPS)	$3.54	$2.76	$2.89	$2.22	$2.70	$2.31	$1.98	$1.91
Shares Outstanding (M)	1,593M	1,593M	1,593M	1,593M	1,600M	1,608M	1,609M	1,611M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MS Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	($1.0B)	$49.0B	$1.4B	($33.5B)	($6.4B)	$34.0B	($25.2B)	$40.8B	$7.3B	($4.5B)	$2.4B	$3.7B	$1.1B	$35.0B	$24.8B	$15.4B	$40.6B	($46.0B)	$73.4B	($22.1B)	($60.8B)
Capital Expenditures (CapEx)	$4.4B	$2.9B	$3.5B	$3.4B	$3.1B	$2.3B	$1.4B	$1.8B	$1.9B	$1.6B	$1.3B	$1.4B	$992M	$1.3B	$1.3B	$1.3B	$1.2B	$2.9B	$1.4B	$1.5B	$0M
Free Cash Flow (FCF)	($5.4B)	$46.1B	($2.1B)	($36.9B)	($9.5B)	$31.7B	($26.7B)	$38.9B	$5.4B	($6.1B)	$1.2B	$2.3B	$139M	$33.7B	$23.4B	$14.1B	$39.4B	($48.8B)	$72.0B	($23.6B)	($60.8B)
FCF Margin %	-4.5%	40.1%	-2.0%	-41.9%	-15.2%	54.8%	-53.7%	75.7%	11.4%	-14.8%	3.2%	6.4%	0.4%	95.7%	76.8%	37.6%	110.2%	-172.6%	133.5%	-28.6%	-87.6%
Dividends Paid	$6.7B	$6.6B	$6.1B	$5.8B	$5.4B	$4.2B	$2.7B	$2.6B	$2.4B	$2.1B	$1.7B	$1.5B	$904M	$475M	$469M	$834M	$1.2B	$1.7B	$1.2B	$1.2B	$1.2B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	($7.1B)	($2.4B)	($3.3B)	$11.8B	($24.0B)	$11.8B	($17.3B)	$2.5B
Capital Expenditures (CapEx)	$754M	$2.2B	$713M	$763M	$713M	$879M	$916M	$851M
Free Cash Flow (FCF)	($7.9B)	($4.6B)	($4.0B)	$11.1B	($24.7B)	$10.9B	($18.2B)	$1.7B
FCF Margin %	-23.7%	-15.9%	-13.5%	39.3%	-88.4%	42.0%	-69.3%	6.6%
Dividends Paid	$1.7B	$1.7B	$1.7B	$1.6B	$1.6B	$1.6B	$1.6B	$1.5B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MS Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$1.58T	$1.42T	$1.22T	$1.19T	$1.18T	$1.19T	$1.12T	$895.4B	$853.5B	$851.7B	$814.9B	$787.5B	$801.5B	$832.7B	$781.0B	$749.9B	$807.7B	$771.5B	$676.8B	$1.05T	$1.12T
Cash & Cash Equivalents	$133.5B	$111.7B	$75.7B	$58.7B	$92.7B	$86.8B	$67.5B	$49.7B	$51.8B	$46.2B	$43.4B	$54.1B	$87.4B	$98.4B	$77.3B	$76.3B	$66.5B	$55.7B	$102.7B	$87.2B	$50.2B
Total Liabilities	$1.47T	$1.31T	$1.11T	$1.09T	$1.08T	$1.08T	$1.01T	$812.7B	$772.1B	$773.3B	$737.8B	$711.3B	$729.4B	$763.7B	$715.5B	$679.8B	$742.3B	$718.7B	$627.3B	$1.01T	$1.09T
Total Debt (Short + Long-Term)	$393.2B	$493.4B	$360.5B	$339.0B	$305.7B	$299.9B	$281.8B	$256.5B	$243.0B	$252.6B	$221.8B	$194.1B	$226.4B	$305.6B	$295.0B	$326.8B	$424.8B	$398.3B	$292.0B	$419.9B	$549.0B
Total Shareholders' Equity	$114.3B	$111.6B	$104.5B	$99.0B	$100.1B	$105.4B	$101.8B	$81.5B	$80.2B	$77.4B	$76.0B	$75.2B	$70.9B	$65.9B	$62.1B	$62.0B	$57.2B	$46.7B	$48.8B	$31.3B	$35.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MS viewer.

Other Companies in Investment Banking & Brokerage

GS · Goldman Sachs — $313 billion
SCHW · Charles Schwab Corporation — $177 billion
IBKR · Interactive Brokers — $156 billion
HOOD · Robinhood Markets — $85 billion
RJF · Raymond James Financial — $33 billion

← MRX All stocks MSA →

About TickerBase · Data methodology & sources

TickerBase is provided for educational and informational purposes only. It does not constitute financial, investment, tax, or legal advice, or a recommendation to buy, sell, or hold any security. No price targets are published; any per-share value shown in the valuation workbench is generated entirely from reader-supplied assumptions and is not the publisher's view of fair value. Past performance does not predict future results. Figures are approximate and drawn from public filings; one-time items are noted where identified. Do your own research and consult a licensed professional before making any investment decision. The author may or may not hold positions in the securities discussed.