Morgan Stanley (MS) financial statements
- FY2025 net income
- $16.9B▲ +25.9%
- FY2025 diluted EPS
- $10.21▲ +28.4%
- FY2025 free cash flow
- −$20.8B
Morgan Stanley income statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Pretax income | 21,954 | 17,596 | 11,813 |
| Net income | 16,861 | 13,390 | 9,087 |
| Diluted earnings per share | 10.21 | 7.95 | 5.18 |
Morgan Stanley balance sheet
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Cash and cash equivalents | 111,695 | 105,386 | 89,232 |
| Total assets | 1,420,270 | 1,215,071 | 1,193,693 |
| Total liabilities | 1,307,618 | 1,109,643 | 1,093,711 |
| Total equity | 112,652 | 105,428 | 99,982 |
Morgan Stanley cash flow statement
| USD millions | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| Period ended | 31 Dec 2025 | 31 Dec 2024 | 31 Dec 2023 |
| Operating cash flow | -17,889 | 1,362 | -33,536 |
| Capital expenditure | -2,898 | -3,462 | -3,412 |
| Free cash flow (derived) | -20,787 | -2,100 | -36,948 |
| Dividends paid | -6,593 | -6,138 | -5,763 |
Quarterly highlights
| USD millions | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 |
|---|---|---|---|---|
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Dec 2025 | 30 Sep 2025 |
| Net income (derived) | 5,581 | 5,567 | 4,397 | 4,610 |
| Diluted earnings per share | 3.46 | 3.43 | n/a | 2.80 |
| Operating cash flow (derived) | -2,747 | -7,098 | -2,410 | -3,332 |
| Total assets | 1,675,057 | 1,581,418 | 1,420,270 | 1,364,806 |
Morgan Stanley major shareholders
| Holder | Share of class | Shares | Filed |
|---|---|---|---|
| MITSUBISHI UFJ FINANCIAL GROUP, INC. | 24.1% | 380,511,118 | 15 July 2026 |
| Vanguard Capital Management | 5.7% | 89,855,360 | 30 April 2026 |
Morgan Stanley 10-K and SEC filings
| Filed | Form | Type | Description |
|---|---|---|---|
| 14 October 2026 | 8-K | Current report | Current report |
| 4 August 2026 | 10-Q | Quarterly report | Quarterly report |
| 15 July 2026 | 8-K | Current report | Current report |
| 24 June 2026 | 8-K | Current report | FORM 8-K |
| 15 May 2026 | 8-K | Current report | FORM 8-K |
| 5 May 2026 | 10-Q | Quarterly report | Quarterly report |
| 15 April 2026 | 8-K | Current report | Current report |
| 19 February 2026 | 10-K | Annual report | Annual report |
Common questions
What was Morgan Stanley's net income in fiscal 2025?
Morgan Stanley reported net income of $16.9 billion for fiscal 2025, the year ended 31 December 2025, up 25.9% from fiscal 2024. Diluted earnings per share were $10.21.
What was Morgan Stanley's free cash flow in fiscal 2025?
Morgan Stanley had negative free cash flow of $20.8 billion in fiscal 2025. Operating cash flow was -$17.9 billion and capital expenditure was $2.9 billion.
What were Morgan Stanley's total assets at the end of fiscal 2025?
Morgan Stanley reported total assets of $1.4 trillion at the end of fiscal 2025, the year ended 31 December 2025.
Who reported holding 5% or more of Morgan Stanley?
MITSUBISHI UFJ FINANCIAL GROUP, INC. reported holding 24.1% of a class of Morgan Stanley shares in a filing dated 15 July 2026.
How much Morgan Stanley history does each plan include?
Free covers the last 3 fiscal years of annual figures. Basic covers the last 10 fiscal years, annual and quarterly. Pro covers the full history, with first reported values and as of dates.
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