Morgan Stanley (MS)

Morgan Stanley Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Transaction-Based Revenues	36,048	34,298	29,102	30,115	36,482	26,797
Net Interest Income	9,448	8,611	8,230	9,327	8,045	6,313
Net Interest Income Growth	22.12%	4.63%	-11.76%	15.93%	27.43%	34.49%
Other Revenues	20,641	18,852	16,811	14,226	15,228	15,647
Revenue	66,137	61,761	54,143	53,668	59,755	48,757
Revenue Growth (YoY)	17.42%	14.07%	0.89%	-10.19%	22.56%	17.38%
Cost of Revenue	32,367	30,318	28,034	26,511	27,969	23,783
Gross Profit	33,770	31,443	26,109	27,157	31,786	24,974
Selling, General & Admin	10,080	9,859	9,626	9,197	8,420	6,663
Other Operating Expenses	4,397	3,988	4,670	3,871	3,698	3,893
Operating Income	19,293	17,596	11,813	14,089	19,668	14,418
Pretax Income	19,293	17,596	11,813	14,089	19,668	14,418
Provision for Income Taxes	4,397	4,067	2,583	2,910	4,548	3,239
Net Income	14,141	12,800	8,530	10,540	14,566	10,500
Minority Interest in Earnings	140	139	143	150	86	183
Net Income Attributable to Preferred Dividends	615	590	557	489	468	496
Net Income to Common	14,141	12,800	8,530	10,540	14,566	10,500
Net Income Growth	43.52%	50.06%	-19.07%	-27.64%	38.72%	23.36%
Shares Outstanding (Basic)	1,583	1,591	1,628	1,691	1,785	1,603
Shares Outstanding (Diluted)	1,602	1,611	1,646	1,713	1,814	1,624
Shares Change (YoY)	-1.32%	-2.13%	-3.91%	-5.57%	11.70%	-0.98%
EPS (Basic)	8.92	8.04	5.24	6.23	8.16	6.55
EPS (Diluted)	8.83	7.95	5.18	6.15	8.03	6.46
EPS Growth	45.47%	53.47%	-15.77%	-23.41%	24.30%	24.47%
Free Cash Flow	-20,941	-2,100	-36,948	-9,475	31,663	-26,675
Free Cash Flow Per Share	-13.07	-1.30	-22.45	-5.53	17.45	-16.43
Dividends Per Share	3.775	3.625	3.325	3.025	2.450	1.400
Dividend Growth	4.14%	9.02%	9.92%	23.47%	75.00%	3.70%
Gross Margin	51.06%	50.91%	48.22%	50.60%	53.19%	51.22%
Operating Margin	29.17%	28.49%	21.82%	26.25%	32.91%	29.57%
Profit Margin	22.52%	21.91%	17.05%	20.83%	25.30%	22.93%
FCF Margin	-31.66%	-3.40%	-68.24%	-17.65%	52.99%	-54.71%
EBITDA	24,380	22,757	16,069	18,087	23,884	18,187
EBITDA Margin	36.86%	36.85%	29.68%	33.70%	39.97%	37.30%
EBIT	19,293	17,596	11,813	14,089	19,668	14,418
EBIT Margin	29.17%	28.49%	21.82%	26.25%	32.91%	29.57%
Effective Tax Rate	22.79%	23.11%	21.87%	20.65%	23.12%	22.46%

Updated Jul 16, 2025. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.

SEC Filings: 10-K · 10-Q