MORGAN STANLEY
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MS FY 2025 request
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/api/financials?ticker=MS&year=2025&quarter=4&full_year_mode=true
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| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Income Before Taxes | 21,954 | 17,596 | +24.8% |
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| IM · Operating Segments | 1,478 | 1,137 | +30.0% |
| IS · Operating Segments | 11,237 | 8,749 | +28.4% |
| WM · Operating Segments | 9,293 | 7,740 | +20.1% |
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| Non Us | 6,108 | 5,070 | +20.5% |
| US | 15,846 | 12,526 | +26.5% |
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| Intersegment Elimination | -54 | -30 | -80.0% |
| Income Tax Expense (Benefit) | 4,929 | 4,067 | +21.2% |
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| IM · Operating Segments | 349 | 275 | +26.9% |
| IS · Operating Segments | 2,430 | 1,947 | +24.8% |
| WM · Operating Segments | 2,163 | 1,852 | +16.8% |
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| Parent Company | -557 | -499 | -11.6% |
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| Intersegment Elimination | -13 | -7 | -85.7% |
| Net Income | 17,025 | 13,529 | +25.8% |
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| IM · Operating Segments | 1,129 | 862 | +31.0% |
| IS · Operating Segments | 8,807 | 6,802 | +29.5% |
| WM · Operating Segments | 7,130 | 5,888 | +21.1% |
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| Parent Company | 16,861 | 13,390 | +25.9% |
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| Intersegment Elimination | -41 | -23 | -78.3% |
| Net Income | 16,861 | 13,390 | +25.9% |
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| IM · Operating Segments | 1,122 | 859 | +30.6% |
| IS · Operating Segments | 8,650 | 6,666 | +29.8% |
| WM · Operating Segments | 7,130 | 5,888 | +21.1% |
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| Retained Earnings | 16,861 | 13,390 | +25.9% |
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| Intersegment Elimination | -41 | -23 | -78.3% |
| Comprehensive Income | 17,390 | 12,997 | +33.8% |
| EPS (Basic) | 10.32 | 8.04 | +28.4% |
| EPS (Diluted) | 10.21 | 7.95 | +28.4% |
| Wtd Avg Shares (Basic) | 1,574 | 1,591 | -1.1% |
| Wtd Avg Shares (Diluted) | 1,592 | 1,611 | -1.2% |
| Depreciation And Amortization | 4,658 | 5,161 | -9.7% |
| Communications And Information Technology | 4,418 | 4,088 | +8.1% |
| Marketing And Advertising Expense | 1,173 | 965 | +21.6% |
| Occupancy Net | 1,872 | 1,905 | -1.7% |
| Professional Fees | 2,839 | 2,901 | -2.1% |
| Interest Expense Operating | 49,017 | 45,524 | +7.7% |
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| IM · Operating Segments | 173 | 234 | -26.1% |
| IS · Operating Segments | 41,479 | 37,953 | +9.3% |
| WM · Operating Segments | 8,400 | 8,934 | -6.0% |
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| Parent Company | 14,195 | 15,377 | -7.7% |
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| Intersegment Elimination | -1,035 | -1,597 | +35.2% |
| Interest Income Expense Net | 10,046 | 8,611 | +16.7% |
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| IM · Operating Segments | -116 | -122 | +4.9% |
| IS · Operating Segments | 2,205 | 1,379 | +59.9% |
| WM · Operating Segments | 7,911 | 7,313 | +8.2% |
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| Parent Company | 39 | 362 | -89.2% |
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| Intersegment Elimination | 46 | 41 | +12.2% |
| Interest And Dividend Income Operating | 59,063 | 54,135 | +9.1% |
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| IM · Operating Segments | 57 | 112 | -49.1% |
| IS · Operating Segments | 43,684 | 39,332 | +11.1% |
| WM · Operating Segments | 16,311 | 16,247 | +0.4% |
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| Parent Company | 14,234 | 15,739 | -9.6% |
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| Intersegment Elimination | -989 | -1,556 | +36.4% |
| Net Income Loss Available To Common Stockholders Basic | 16,249 | 12,800 | +26.9% |
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| Parent Company | 16,249 | 12,800 | +26.9% |
| Other Noninterest Expense | 4,145 | 3,724 | +11.3% |
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| Parent Company | -3 | 36 | -108.3% |
| Preferred Stock Dividends Income Statement Impact | 612 | 590 | +3.7% |
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| Parent Company | 612 | 590 | +3.7% |
| Revenues Net Of Interest Expense | 70,645 | 61,761 | +14.4% |
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| IM · Operating Segments | 6,525 | 5,861 | +11.3% |
| IS · Operating Segments | 33,080 | 28,080 | +17.8% |
| WM · Operating Segments | 31,754 | 28,420 | +11.7% |
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| Americas | 52,897 | 46,929 | +12.7% |
| Asia | 9,420 | 7,635 | +23.4% |
| EMEA | 8,328 | 7,197 | +15.7% |
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| Parent Company | 8,096 | 10,371 | -21.9% |
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| Intersegment Elimination | -714 | -600 | -19.0% |
| Noninterest Expense | 48,342 | 43,901 | +10.1% |
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| IM · Operating Segments | 5,047 | 4,724 | +6.8% |
| IS · Operating Segments | 21,541 | 19,129 | +12.6% |
| WM · Operating Segments | 22,414 | 20,618 | +8.7% |
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| Parent Company | 397 | 358 | +10.9% |
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| Intersegment Elimination | -660 | -570 | -15.8% |
| Noninterest Income | 60,599 | 53,150 | +14.0% |
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| IM · Operating Segments | 6,641 | 5,983 | +11.0% |
| IS · Operating Segments | 30,875 | 26,701 | +15.6% |
| WM · Operating Segments | 23,843 | 21,107 | +13.0% |
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| Parent Company | 8,057 | 10,009 | -19.5% |
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| Intersegment Elimination | -760 | -641 | -18.6% |
| Investment Banking Revenue | 8,199 | 6,705 | +22.3% |
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| Institutional Securities—Underwriting · IS | 4,731 | 3,792 | +24.8% |
| Investment Advice · IS | 2,888 | 2,378 | +21.4% |
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| IS · Operating Segments | 7,619 | 6,170 | +23.5% |
| WM · Operating Segments | 760 | 653 | +16.4% |
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| Intersegment Elimination | -180 | -118 | -52.5% |
| Brokerage Commissions Revenue | 5,936 | 5,094 | +16.5% |
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| IS · Operating Segments | 3,302 | 2,905 | +13.7% |
| WM · Operating Segments | 2,973 | 2,478 | +20.0% |
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| Intersegment Elimination | -339 | -289 | -17.3% |
| Labor And Related Expense | 29,216 | 26,178 | +11.6% |
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| IM · Operating Segments | 2,481 | 2,302 | +7.8% |
| IS · Operating Segments | 9,785 | 8,669 | +12.9% |
| WM · Operating Segments | 16,950 | 15,207 | +11.5% |
| Interest Income Operating | 5,328 | 5,161 | +3.2% |
| Income Loss From Equity Method Investments (FY) | — | — | — |
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| IM | 246 | 241 | +2.1% |
Show Schedule Of Equity Method Investment Equity Method Investee Name breakouts |
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| Mitsubishi UFJ Morgan Stanley Securities Co., Ltd | 123 | 146 | -15.8% |
| Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments (FY) | — | — | — |
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| Parent Company | 7,699 | 10,013 | -23.1% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 111,695 | 105,386 | +6.0% |
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| Variable Interest Entity Primary Beneficiary | 19 | 37 | -48.6% |
| Non-Current Assets | |||
| Operating Lease Right-of-Use Assets | 4,164 | 4,114 | +1.2% |
| Goodwill | 16,726 | 16,706 | +0.1% |
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| IM | 6,090 | 6,081 | +0.1% |
| IS | 437 | 435 | +0.5% |
| WM | 10,199 | 10,190 | +0.1% |
| Intangible Assets | 6,010 | 6,453 | -6.9% |
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| IM | 3,382 | 3,487 | -3.0% |
| IS | 21 | 27 | -22.2% |
| WM | 2,607 | 2,939 | -11.3% |
| Total Assets | 1,420,270 | 1,215,071 | +16.9% |
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| IM | 17,700 | 17,615 | +0.5% |
| IS | 969,553 | 796,608 | +21.7% |
| WM | 433,017 | 400,848 | +8.0% |
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| Americas | 994,553 | 893,170 | +11.4% |
| Asia | 196,847 | 142,714 | +37.9% |
| EMEA | 228,870 | 179,187 | +27.7% |
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| Debt and equity interests · Collateralized Debt Obligations | 158 | 62 | +154.8% |
| Debt and equity interests · MABS | 32,074 | 26,974 | +18.9% |
| Debt and equity interests · Other | 11,904 | 12,067 | -1.4% |
| Debt and equity interests · Structured Finance | 1,967 | 1,821 | +8.0% |
| Derivative Financial Instruments Assets · MTOB | 5 | 6 | -16.7% |
| Derivative Financial Instruments Assets · Other | 2,010 | 1,772 | +13.4% |
| Securities Assets · Commercial Mortgage Backed Securities | 11,251 | 8,445 | +33.2% |
| Securities Assets · Mortgage Backed Securities Issued By US Government Sponsored Enterprises | 7,136 | 6,260 | +14.0% |
| Securities Assets · Other Consumer and Commercial Loans [Member] | 10,504 | 9,772 | +7.5% |
| Securities Assets · Residential Mortgage Backed Securities | 3,183 | 2,497 | +27.5% |
| Securities Assets · Variable Interest Entity Not Primary Beneficiary | 32,074 | 26,974 | +18.9% |
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| Collateralized Debt Obligations · Variable Interest Entity Not Primary Beneficiary | 158 | — | — |
| Investment Vehicles · Variable Interest Entity Primary Beneficiary | 263 | 378 | -30.4% |
| MABS · Variable Interest Entity Not Primary Beneficiary | 32,074 | — | — |
| MABS · Variable Interest Entity Primary Beneficiary | 468 | 575 | -18.6% |
| MTOB · Variable Interest Entity Not Primary Beneficiary | 5 | — | — |
| MTOB · Variable Interest Entity Primary Beneficiary | 1,781 | 619 | +187.7% |
| Other · Variable Interest Entity Not Primary Beneficiary | 13,914 | — | — |
| Other · Variable Interest Entity Primary Beneficiary | 47 | 156 | -69.9% |
| Structured Finance · Variable Interest Entity Not Primary Beneficiary | 1,967 | — | — |
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| Parent Company | 426,959 | 390,637 | +9.3% |
| Variable Interest Entity Primary Beneficiary | 2,559 | 1,728 | +48.1% |
| Non-Current Liabilities | |||
| Long-Term Debt | 341,681 | 284,307 | +20.2% |
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| Fixed Rate · Parent Company | 188,933 | — | — |
| Fixed Rate · Secured Debt | 208 | — | — |
| Fixed Rate · Subsidiaries | 48,331 | — | — |
| Variable Rate · Parent Company | 11,395 | — | — |
| Variable Rate · Secured Debt | 7,162 | — | — |
| Variable Rate · Subsidiaries | 93,022 | — | — |
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| Parent Company | 200,437 | 182,126 | +10.1% |
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| Secured Debt | 7,370 | 4,321 | +70.6% |
| Total Liabilities | 1,307,618 | 1,109,643 | +17.8% |
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| Derivative Financial Instruments Assets · MTOB | 2 | — | — |
| Derivative Financial Instruments Assets · Other | 780 | — | — |
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| Investment Vehicles · Variable Interest Entity Primary Beneficiary | 5 | 189 | -97.4% |
| MABS · Variable Interest Entity Primary Beneficiary | 2 | 236 | -99.2% |
| MTOB · Variable Interest Entity Primary Beneficiary | 1,651 | 578 | +185.6% |
| Other · Variable Interest Entity Primary Beneficiary | 3 | 4 | -25.0% |
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| Parent Company | 315,327 | 286,126 | +10.2% |
| Variable Interest Entity Primary Beneficiary | 1,661 | 1,007 | +64.9% |
| Stockholders' Equity | |||
| Common Stock | 20 | 20 | 0.0% |
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| Parent Company | 20 | 20 | 0.0% |
| Additional Paid-In Capital | 31,153 | 30,179 | +3.2% |
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| Parent Company | 31,153 | 30,179 | +3.2% |
| Retained Earnings | 115,091 | 104,989 | +9.6% |
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| Parent Company | 115,091 | 104,989 | +9.6% |
| Accumulated Other Comprehensive Income | -6,285 | -6,814 | +7.8% |
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| Parent Company | -6,285 | -6,814 | +7.8% |
| Total Stockholders' Equity | 111,632 | 104,511 | +6.8% |
| Total Liabilities & Equity | 1,420,270 | 1,215,071 | +16.9% |
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| Parent Company | 426,959 | 390,637 | +9.3% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Stock-Based Compensation | 1,926 | 1,622 | +18.7% |
| Deferred Income Taxes | 561 | 152 | +269.1% |
| Other Non-Cash Items | 408 | 4 | +10100.0% |
| Change in Accounts Payable | 50,708 | -25,550 | +298.5% |
| Net Cash from Operations | -17,889 | 1,362 | -1413.4% |
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| Parent Company | 18,578 | 10,688 | +73.8% |
| Investing Activities | |||
| Purchases of Investments | -36,578 | -35,327 | -3.5% |
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| Parent Company | -8,542 | -7,806 | -9.4% |
| Other Investing Activities | -1,092 | -1,485 | +26.5% |
| Net Cash from Investing | -46,779 | -29,460 | -58.8% |
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| Parent Company | -29,967 | -21,446 | -39.7% |
| Financing Activities | |||
| Debt Repayments | -99,393 | -80,230 | -23.9% |
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| Parent Company | -22,224 | -24,500 | +9.3% |
| Net Cash from Financing | 67,758 | 46,756 | +44.9% |
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| Parent Company | 18,079 | 13,420 | +34.7% |
| Supplemental | |||
| Income Taxes Paid | 3,504 | 1,885 | +85.9% |
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| Parent Company | 1,931 | 798 | +142.0% |
| Interest Paid | 47,096 | 46,359 | +1.6% |
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| Parent Company | 15,736 | 15,971 | -1.5% |
| Other Cash Flow | |||
| Net Change in Cash | 6,309 | 16,154 | -60.9% |
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| Parent Company | 7,297 | 2,462 | +196.4% |
Values in millions USD. Source: SEC EDGAR 10-K filing.