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Morgan Stanley (MS)
NYSE: MS · Real-Time Price · USD
184.30
-4.55 (-2.41%)
At close: Oct 30, 2026, 4:00 PM EDT
184.00
-0.30 (-0.16%)
After-hours: Oct 30, 2026, 7:44 PM EDT

Morgan Stanley Cash Flow Statement

Millions USD. Fiscal year is Jan - Dec.

Operating Activities

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Net Income
16,86113,3909,08711,02915,034
Depreciation & Amortization, Total
4,6585,1614,2563,9984,216
Stock-Based Compensation
1,9261,6221,7091,8752,085
Change in Accounts Receivable
-26,637-5,30860214,664774
Change in Accounts Payable
50,708-25,550-3,629-4,8977,758
Change in Other Net Operating Assets
829-23,00814,9456,157-4,918
Other Operating Activities
1,133295-12-81-57
Operating Cash Flow
-17,8891,362-33,536-6,39733,971

Investing Activities

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Capital Expenditures
-2,898-3,462-3,412-3,078-2,308
Cash Acquisitions
-----2,648
Investment in Securities
-1,406-1,8955,31015,445-8,003
Other Investing Activities
-1,092-1,485-923-347-832
Investing Cash Flow
-46,779-29,460-3,084-11,632-49,897

Financing Activities

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Long-Term Debt Issued
140,294112,72379,22072,46090,273
Long-Term Debt Repaid
-99,393-80,230-64,805-35,782-70,749
Net Debt Issued (Repaid)
40,90132,49314,41536,67819,524
Repurchase of Common Stock
-5,835-4,199-6,178-10,871-12,075
Dividends Paid
-6,593-6,138-5,763-5,401-4,171
Other Financing Activities
39,28523,605-5,2001,31436,994
Financing Cash Flow
67,75846,756-2,72622,71441,547

Net Cash Flow

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Foreign Exchange Rate Adjustments
3,219-2,504451-4,283-3,550
Net Cash Flow
6,30916,154-38,89540222,071

Free Cash Flow

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Free Cash Flow
-20,787-2,100-36,948-9,47531,663
Free Cash Flow Growth
-----
Free Cash Flow Margin
-29.57%-3.42%-68.92%-17.75%52.99%
Free Cash Flow Per Share
-13.06-1.30-22.45-5.5317.45

Additional Metrics

Fiscal Year
FY 2025FY 2024FY 2023FY 2022FY 2021
Period Ending
Dec '25 Dec '24 Dec '23 Dec '22 Dec '21
Cash Interest Paid
47,09646,35941,9409,8191,303
Cash Income Tax Paid
3,5041,8852,0354,1474,231
SEC Filings: 10-K · 10-Q