Morgan Stanley financials
$192.76−0.45%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $119.66B | $107.28B | $91.76B | $65.94B | $61.12B | $52.61B | $53.94B | $50.19B | $43.64B | $37.95B |
| Gross profit | $70.64B | $61.76B | $54.14B | $53.67B | $59.76B | $48.76B | $41.54B | $40.11B | $37.95B | $34.63B |
| Gross margin | 59.0% | 57.6% | 59.0% | 81.4% | 97.8% | 92.7% | 77.0% | 79.9% | 86.9% | 91.3% |
| Operating income | $21.95B | $17.60B | $11.81B | $14.09B | $19.67B | $14.42B | $11.30B | $11.24B | $10.40B | $8.85B |
| Net income | $16.25B | $12.80B | $8.53B | $10.54B | $14.57B | $10.50B | $8.51B | $8.22B | $5.59B | $5.51B |
| Net margin | 13.6% | 11.9% | 9.3% | 16.0% | 23.8% | 20.0% | 15.8% | 16.4% | 12.8% | 14.5% |
| Diluted EPS | $10.21 | $7.95 | $5.18 | $6.15 | $8.03 | $6.46 | $5.19 | $4.73 | $3.07 | $2.92 |
| EBITDA | $21.95B | $17.60B | $11.81B | $14.09B | $19.67B | $14.42B | $11.30B | $11.24B | $10.40B | $8.85B |
| Operating cash flow | -$17.89B | $1.36B | -$33.54B | -$6.40B | $22.37B | $6.39B | $26.03B | $28.23B | -$24.00B | $1.75B |
| Free cash flow | -$20.79B | -$2.10B | -$36.95B | -$9.47B | $20.06B | $4.95B | $24.21B | $26.37B | -$25.63B | $469.0M |
| Diluted shares | 1,592.0M | 1,611.0M | 1,646.0M | 1,713.0M | 1,814.0M | 1,624.0M | 1,640.0M | 1,738.0M | 1,821.0M | 1,887.0M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $111.69B | $105.39B | $89.23B | $128.13B | $127.72B | $105.65B |
| Short-term investments | $863.98B | $733.99B | $753.71B | $907.52B | $727.58B | $723.52B |
| Total debt | $387.85B | $304.05B | $278.79B | $253.74B | $245.43B | $224.81B |
| Total assets | $1.42T | $1.22T | $1.19T | $1.18T | $1.19T | $1.12T |
| Total liabilities | $1.31T | $1.11T | $1.09T | $1.08T | $1.08T | $1.01T |
| Shareholders' equity | $112.65B | $105.43B | $99.98B | $101.23B | $106.60B | $103.15B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology