MS
$180.40+1.08%
as of close, Oct 20, 2026
☾ AH $180.40 +1.08%
MS financial statements
The full income statement, balance sheet, and cash-flow statement for Morgan Stanley (MS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 1.62B2024-09 1.61B2024-12 1.61B2025-03 1.60B2025-06 1.60B2025-09 1.59B2025-12 1.59B2026-03 1.58B2026-06 1.57B-2.9% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
PeriodRangeOrderChangeFiguresAs-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 70.6B+14.4% | 61.8B+14.1% | 54.1B+0.9% | 53.7B-10.2% | 59.8B+22.6% | ||
| Noninterest income | 60.6B+14.0% | 53.1B+15.8% | 45.9B+3.5% | 44.3B-14.3% | 51.7B+21.8% | |
| Amortization of intangibles | 454M-24.6% | 602M+0.2% | 601M-1.5% | 610M-0.3% | 612M+64.1% | |
| Noninterest expense | 48.3B+10.1% | 43.9B+5.0% | 41.8B+6.4% | 39.3B-2.0% | 40.1B+19.4% | |
| Provision for credit losses | — | — | — | — | -48.0M-108.6% | |
| Interest expense | — | — | 42.1B+242.8% | 12.3B+798.1% | 1.37B-64.5% | |
| Interest & investment income | 59.1B+9.1% | 54.1B+18.1% | 45.8B+112.3% | 21.6B+129.5% | 9.41B-7.4% | |
| Net interest income | 10.0B+16.7% | 8.61B+4.6% | 8.23B-11.8% | 9.33B+15.9% | 8.04B+27.4% | |
| Pre-tax income | 22.0B+24.8% | 17.6B+49.0% | 11.8B-16.2% | 14.1B-28.4% | 19.7B+36.4% | |
| Income tax | 4.93B+21.2% | 4.07B+57.5% | 2.58B-11.2% | 2.91B-36.0% | 4.55B+40.4% | |
| 16.9B+25.9% | 13.4B+47.4% | 9.09B-17.6% | 11.0B-26.6% | 15.0B+36.7% | ||
| Preferred dividends | 612M+3.7% | 590M+5.9% | 557M+13.9% | 489M+4.5% | 468M-5.6% | |
| Net income to common | 16.2B+26.9% | 12.8B+50.1% | 8.53B-19.1% | 10.5B-27.6% | 14.6B+38.7% | |
| $10.21+28.4% | $7.95+53.5% | $5.18-15.8% | $6.15-23.4% | $8.03+24.3% | ||
| EPS (basic) | $10.32+28.4% | $8.04+53.4% | $5.24-15.9% | $6.23-23.7% | $8.16+24.6% | |
| Weighted-avg shares (basic) | 1.57B-1.1% | 1.59B-2.3% | 1.63B-3.7% | 1.69B-5.3% | 1.78B+11.4% | |
| Weighted-avg shares (diluted) | 1.59B-1.2% | 1.61B-2.1% | 1.65B-3.9% | 1.71B-5.6% | 1.81B+11.7% | |
| Dividends per share | $3.85+8.5% | $3.55+9.2% | $3.25+10.2% | $2.95+40.5% | $2.10+50.0% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 112B+6.0% | 105B+18.1% | 89.2B-30.4% | 128B+0.3% | 128B+20.9% | |
| 1.42T+16.9% | 1.22T+1.8% | 1.19T+1.1% | 1.18T-0.7% | 1.19T+6.5% | ||
| Operating lease right-of-use | 4.16B+1.2% | 4.11B-5.8% | 4.37B+7.2% | 4.07B-4.6% | 4.27B-3.4% | |
| Goodwill | 16.7B+0.1% | 16.7B-0.0% | 16.7B+0.3% | 16.7B-1.1% | 16.8B+44.7% | |
| Intangible assets | 6.01B-6.9% | 6.45B-8.5% | 7.05B-7.4% | 7.62B-8.9% | 8.36B+67.9% | |
| 1.31T+17.8% | 1.11T+1.5% | 1.09T+1.4% | 1.08T-0.2% | 1.08T+6.8% | ||
| Long-term debt | 342B+20.2% | 284B+9.1% | 261B+11.4% | 234B+2.9% | 227B+6.5% | |
| Operating lease liability (total) | 5.00B+1.2% | 4.94B-8.9% | 5.42B+10.5% | 4.90B-5.0% | 5.16B-3.2% | |
| 112B+6.8% | 105B+5.5% | 99.0B-1.1% | 100B-5.0% | 105B+3.6% | ||
| Common stock | 20.0M+0.0% | 20.0M+0.0% | 20.0M+0.0% | 20.0M+0.0% | 20.0M+0.0% | |
| Additional paid-in capital | 31.2B+3.2% | 30.2B+1.2% | 29.8B+1.7% | 29.3B+1.7% | 28.8B+12.9% | |
| Retained earnings | 115B+9.6% | 105B+7.1% | 98.0B+3.3% | 94.9B+6.1% | 89.4B+13.6% | |
| Treasury stock | 38.1B+13.3% | 33.6B+7.9% | 31.1B+17.2% | 26.6B+51.9% | 17.5B+79.2% | |
| Accumulated other comprehensive income | -6.29B+7.8% | -6.81B-6.1% | -6.42B-2.7% | -6.25B-101.6% | -3.10B-58.1% | |
| Total equity incl. non-controlling | 113B+6.9% | 105B+5.4% | 100.0B-1.2% | 101B-5.0% | 107B+3.3% | |
| Total liabilities & equity | 1.42T+16.9% | 1.22T+1.8% | 1.19T+1.1% | 1.18T-0.7% | 1.19T+6.5% | |
| Common shares issued | 2.04B+0.0% | 2.04B+0.0% | 2.04B+0.0% | 2.04B+0.0% | 2.04B+0.0% | |
| Common shares outstanding | 1.58B-1.5% | 1.61B-1.3% | 1.63B-2.9% | 1.68B-5.5% | 1.77B-2.1% | |
| Shares outstanding (cover) | 1.59B-1.5% | 1.61B-1.4% | 1.64B-2.8% | 1.68B-5.6% | 1.78B-1.8% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -17.9B-1413.4% | 1.36B+104.1% | -33.5B-424.2% | -6.40B-118.8% | 34.0B+234.6% | ||
| Depreciation & amortization | 4.66B-9.7% | 5.16B+21.3% | 4.26B+6.5% | 4.00B-5.2% | 4.22B+11.9% | |
| Intangible amortization | 454M-24.6% | 602M+0.2% | 601M-1.5% | 610M-0.3% | 612M+64.1% | |
| Share-based compensation | 1.93B+18.7% | 1.62B-5.1% | 1.71B-8.9% | 1.88B-10.1% | 2.08B+58.9% | |
| Deferred income taxes | 561M+269.1% | 152M+132.8% | -463M+45.5% | -849M-21325.0% | 4.00M+101.6% | |
| Change in payables | 50.7B+298.5% | -25.6B-604.1% | -3.63B+25.9% | -4.90B-163.1% | 7.76B-23.8% | |
| -46.8B-58.8% | -29.5B-855.3% | -3.08B+73.5% | -11.6B+76.7% | -49.9B-31.7% | ||
| Acquisitions | 0.00 | 0.00 | 0.00 | 0.00-100.0% | 2.65B | |
| Sales/maturities of investments | 21.8B+3.2% | 21.1B+47.3% | 14.3B+6.6% | 13.4B-49.1% | 26.4B+68.4% | |
| Other investing activities | 1.09B-26.5% | 1.49B+60.9% | 923M+166.0% | 347M-58.3% | 832M+3.7% | |
| 67.8B+44.9% | 46.8B+1815.2% | -2.73B-112.0% | 22.7B-45.3% | 41.5B-50.4% | ||
| Long-term debt issued | 139B+28.4% | 108B+38.2% | 78.4B+8.2% | 72.5B-19.7% | 90.3B+48.7% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 6.59B+7.4% | 6.14B+6.5% | 5.76B+6.7% | 5.40B+29.5% | 4.17B+52.3% | |
| Other financing activities | 142M+140.6% | -350M-180.0% | -125M+63.8% | -345M-455.7% | 97.0M+342.5% | |
| FX effect on cash | 3.22B+228.6% | -2.50B-655.2% | 451M+110.5% | -4.28B-20.6% | -3.55B-225.5% | |
| Net change in cash | 6.31B-60.9% | 16.2B+141.5% | -38.9B-9775.4% | 402M-98.2% | 22.1B-6.0% | |
| Interest paid | 47.1B+1.6% | 46.4B+10.5% | 41.9B+327.1% | 9.82B+653.6% | 1.30B-68.4% | |
| Income taxes paid | 3.50B+85.9% | 1.89B-7.4% | 2.04B-50.9% | 4.15B-2.0% | 4.23B+63.3% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 282B+39.0% | 203B+32.5% | 153B+6.5% | 144B-17.8% | 175B+40.7% | |
| P/E | 16.7×+10.4% | 15.1×-3.0% | 15.6×+35.7% | 11.5×-1.1% | 11.6×+2.9% | |
| P/S | 4.0×+21.5% | 3.3×+15.8% | 2.8×+9.4% | 2.6×-11.4% | 2.9×+14.8% | |
| P/B | 2.5×+30.2% | 1.9×+25.8% | 1.5×+8.4% | 1.4×-14.2% | 1.7×+35.8% | |
| Earnings yield | 6.0%-9.4% | 6.6%+3.1% | 6.4%-26.3% | 8.7%+1.1% | 8.6%-2.8% | |
| Dividend yield | 2.2%-23.2% | 2.8%-19.0% | 3.5%+0.4% | 3.5%+62.2% | 2.1%+4.7% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: MS’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MS filings on SEC EDGAR → Not investment advice.