Morgan Stanley Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Quarter	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022	Q1 2022	Q4 2021	Q3 2021	Q2 2021	Q1 2021
Period Ending	Dec '25 Dec 31, 2025	Sep '25 Sep 30, 2025	Jun '25 Jun 30, 2025	Mar '25 Mar 31, 2025	Dec '24 Dec 31, 2024	Sep '24 Sep 30, 2024	Jun '24 Jun 30, 2024	Mar '24 Mar 31, 2024	Dec '23 Dec 31, 2023	Sep '23 Sep 30, 2023	Jun '23 Jun 30, 2023	Mar '23 Mar 31, 2023	Dec '22 Dec 31, 2022	Sep '22 Sep 30, 2022	Jun '22 Jun 30, 2022	Mar '22 Mar 31, 2022	Dec '21 Dec 31, 2021	Sep '21 Sep 30, 2021	Jun '21 Jun 30, 2021	Mar '21 Mar 31, 2021
Cash & Equivalents	111,695	103,734	109,130	90,739	105,386	91,084	90,160	102,305	89,232	108,401	104,994	111,258	128,127	111,696	131,286	136,086	127,725	123,863	126,480	118,118
Cash & Short-Term Investments	111,695	103,734	109,130	90,739	105,386	91,084	90,160	102,305	89,232	108,401	104,994	111,258	128,127	111,696	131,286	136,086	127,725	123,863	126,480	118,118
Cash Growth	5.99%	13.89%	21.04%	-11.30%	18.10%	-15.97%	-14.13%	-8.05%	-30.36%	-2.95%	-20.03%	-18.24%	0.32%	-9.82%	3.80%	15.21%	20.89%	30.70%	19.01%	-10.18%
Restricted Cash and Segregated Assets	120,243	111,734	106,755	119,048	118,565	137,352	118,910	122,733	110,740	101,569	97,914	121,885	113,907	111,124	120,735	127,767	119,999	119,721	95,930	114,721
Securities Borrowed	151,908	129,113	139,959	140,226	123,859	132,412	122,709	132,852	121,091	120,916	139,126	146,216	133,374	136,478	138,508	150,995	129,713	125,922	126,703	102,149
Trading Assets	428,276	423,823	425,519	400,243	331,884	362,298	357,043	367,633	367,074	346,685	328,454	320,301	301,315	291,188	278,882	296,881	294,869	315,161	321,145	313,158
Accounts Receivable	114,720	113,257	98,310	92,153	86,158	91,380	88,718	81,639	80,105	76,495	75,964	74,095	78,540	87,935	82,759	94,804	96,018	98,353	100,921	115,043
Other Current Assets	9,374	11,433	12,332	16,111	12,319	12,862	15,283	13,426	15,255	14,230	15,284	15,146	14,788	13,353	13,029	14,013	13,832	13,168	11,713	15,488
Total Current Assets	936,216	893,094	892,005	858,520	778,171	827,388	792,823	820,588	783,497	768,296	761,736	788,901	770,051	751,774	765,199	820,546	782,156	796,188	782,892	778,677
Other Intangible Assets	6,010	6,097	6,185	6,305	6,453	6,620	6,763	6,914	7,055	7,204	7,322	7,470	7,618	7,893	8,046	8,244	8,360	8,514	8,690	8,846
Goodwill	16,726	16,725	16,734	16,714	16,706	16,735	16,719	16,722	16,707	16,699	16,652	16,657	16,652	16,721	16,757	16,825	16,833	16,832	16,838	16,836
Long-Term Investments	163,556	163,532	163,573	158,282	159,679	160,684	155,431	152,733	154,807	146,966	151,792	157,944	159,931	161,269	165,447	170,793	182,998	183,431	175,342	189,206
Other Long-Term Assets	297,762	285,358	275,373	260,475	254,062	246,600	240,711	231,546	231,627	229,848	227,409	228,932	225,979	222,372	218,327	205,825	197,793	185,511	178,043	165,207
Total Assets	1,420,270	1,364,810	1,353,870	1,300,300	1,215,070	1,258,030	1,212,450	1,228,500	1,193,690	1,169,010	1,164,910	1,199,900	1,180,230	1,160,030	1,173,780	1,222,230	1,188,140	1,190,480	1,161,810	1,158,770
Accounts Payable	226,519	226,445	215,345	201,731	175,938	216,591	205,897	214,370	208,148	200,479	216,820	220,700	216,134	229,463	234,007	243,609	228,685	240,319	233,810	230,121
Securities Loaned	17,310	15,944	19,193	16,604	15,226	17,455	17,078	15,945	15,057	13,064	13,369	15,588	15,679	13,097	13,785	14,222	12,299	11,133	9,574	8,426
Trading Liabilities	169,569	162,408	171,351	170,009	153,764	152,238	155,018	152,843	151,513	150,298	147,043	170,764	154,438	162,640	149,969	176,580	158,328	169,959	169,074	185,667
Short-Term Debt	864,600	820,104	811,252	778,492	736,495	738,374	706,904	721,372	690,842	678,980	661,141	666,866	665,396	626,380	646,741	659,533	652,930	631,062	613,377	603,001
Other Current Liabilities	29,620	28,854	27,459	25,613	28,220	28,698	25,944	23,833	28,151	26,034	25,177	24,032	27,353	26,360	26,612	24,214	29,300	30,884	27,808	23,969
Total Current Liabilities	1,307,620	1,253,760	1,244,600	1,192,450	1,109,640	1,153,360	1,110,840	1,128,360	1,093,710	1,068,860	1,063,550	1,097,950	1,079,000	1,057,940	1,071,110	1,118,160	1,081,540	1,083,360	1,053,640	1,051,180
Total Liabilities	1,307,620	1,253,760	1,244,600	1,192,450	1,109,640	1,153,360	1,110,840	1,128,360	1,093,710	1,068,860	1,063,550	1,097,950	1,079,000	1,057,940	1,071,110	1,118,160	1,081,540	1,083,360	1,053,640	1,051,180
Preferred Stock	9,750	9,750	9,750	9,750	9,750	9,750	8,750	8,750	8,750	8,750	8,750	8,750	8,750	8,750	7,750	7,750	7,750	7,750	7,750	-
Common Stock	20	20	20	20	20	20	20	20	20	20	20	20	20	20	20	20	20	20	20	20
Treasury Stock	-38,097	-36,618	-35,503	-34,423	-33,613	-32,868	-32,129	-31,372	-31,139	-29,959	-28,480	-27,481	-26,577	-24,949	-22,436	-19,696	-17,500	-14,769	-11,198	-8,197
Additional Paid-in Capital	31,153	30,730	30,263	29,773	30,179	29,820	29,459	29,046	29,832	29,595	29,245	28,856	29,339	28,893	28,394	28,007	28,841	28,504	28,030	27,406
Accumulated Other Comprehensive Income	-6,285	-6,346	-5,913	-5,961	-6,814	-5,986	-6,760	-7,057	-6,421	-7,202	-6,300	-5,711	-6,253	-5,758	-5,021	-4,902	-3,102	-2,701	-2,523	-2,754
Retained Earnings	115,091	112,426	109,567	107,653	104,989	102,911	101,374	99,811	97,996	98,007	97,151	96,392	94,862	94,055	92,889	91,722	89,432	87,099	84,791	82,034
Total Common Shareholders' Equity	111,632	109,962	108,184	106,812	104,511	103,647	100,714	99,198	99,038	99,211	100,386	100,826	100,141	101,011	101,596	102,901	105,441	105,903	106,870	106,259
Minority Interest	1,020	1,089	1,086	1,035	917	1,024	892	942	944	947	975	1,128	1,090	1,078	1,066	1,174	1,157	1,216	1,292	1,329
Shareholders' Equity	112,652	111,051	109,270	107,847	105,428	104,671	101,606	100,140	99,982	100,158	101,361	101,954	101,231	102,089	102,662	104,075	106,598	107,119	108,162	107,588
Total Liabilities & Equity	1,420,270	1,364,810	1,353,870	1,300,300	1,215,070	1,258,030	1,212,450	1,228,500	1,193,690	1,169,010	1,164,910	1,199,900	1,180,230	1,160,030	1,173,780	1,222,230	1,188,140	1,190,480	1,161,810	1,158,770
Total Debt	864,600	820,104	811,252	778,492	736,495	738,374	706,904	721,372	690,842	678,980	661,141	666,866	665,396	626,380	646,741	659,533	652,930	631,062	613,377	603,001
Net Cash (Debt)	-752,905	-716,370	-702,122	-687,753	-631,109	-647,290	-616,744	-619,067	-601,610	-570,579	-556,147	-555,608	-537,269	-514,684	-515,455	-523,447	-525,205	-507,199	-486,897	-484,883
Net Cash Per Share	-474.72	-450.55	-440.75	-429.85	-392.48	-402.29	-382.83	-383.09	-369.77	-347.28	-336.86	-334.10	-319.99	-303.29	-299.16	-298.26	-294.23	-279.91	-264.47	-266.71
Book Value	111,632	109,962	108,184	106,812	104,511	103,647	100,714	99,198	99,038	99,211	100,386	100,826	100,141	101,011	101,596	102,901	105,441	105,903	106,870	106,259
Book Value Per Share	70.39	69.16	67.91	66.76	64.99	64.42	62.52	61.38	60.87	60.38	60.80	60.63	59.64	59.52	58.96	58.63	59.07	58.45	58.05	58.45
Tangible Book Value	88,896	87,140	85,265	83,793	81,352	80,292	77,232	75,562	75,276	75,308	76,412	76,699	75,871	76,397	76,793	77,832	80,248	80,557	81,342	80,577
Tangible Book Value Per Share	56.05	54.80	53.52	52.37	50.59	49.90	47.94	46.76	46.27	45.84	46.28	46.12	45.19	45.02	44.57	44.35	44.96	44.46	44.18	44.32

Updated Apr 15, 2026. Data Source: Fiscal.ai. Capital Markets template. Financial Sources.

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