Morgan Stanley (MS)
NYSE: MS · Real-Time Price · USD
211.58
-2.98 (-1.39%)
At close: Jul 28, 2026, 4:00 PM EDT
213.00
+1.42 (0.67%)
After-hours: Jul 28, 2026, 7:58 PM EDT
Morgan Stanley Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter | Q1 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Period Ending | Mar '26 Mar 31, 2026 | 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 |
Net Income | 5,638 | 4,424 | 4,655 | 3,575 | 4,371 | 3,724 | 3,226 | 3,117 | 3,462 | 1,541 | 2,435 | 2,221 | 3,033 | 2,266 | 2,662 | 2,536 | 3,715 | 3,716 | 3,724 | 3,512 |
Depreciation & Amortization | 714 | 1,138 | 1,348 | 1,307 | 865 | 1,645 | 1,270 | 1,271 | 975 | 1,406 | 988 | 922 | 940 | 1,207 | 928 | 921 | 942 | 1,237 | 1,035 | 1,057 |
Stock-Based Compensation | 571 | 469 | 449 | 469 | 539 | 391 | 372 | 417 | 442 | 361 | 367 | 423 | 558 | 498 | 528 | 418 | 431 | 449 | 500 | 618 |
Other Adjustments | 172 | 158 | 112 | 354 | 133 | -2 | 125 | 163 | -18 | 267 | 62 | 211 | 300 | 197 | 187 | 406 | 108 | 7 | 40 | 3 |
Changes in Restricted Cash and Segregated Assets | 32,655 | 8,526 | -13,012 | 12,558 | 18,722 | 10,525 | -25,790 | -12,904 | 7,760 | -23,181 | 16,643 | 19,843 | -10,021 | -382 | 3,565 | 13,143 | -9,888 | -77 | -19,449 | 21,812 |
Changes in Securities Borrowed | -2,662 | -22,795 | 10,846 | 267 | -16,367 | 8,553 | -9,703 | 10,143 | -11,761 | -175 | 18,210 | 7,090 | -12,842 | 3,104 | 2,030 | 12,487 | -21,282 | -3,791 | 781 | -24,554 |
Changes in Trading Assets | -53,593 | 2,096 | -3,842 | -17,002 | -48,968 | 22,138 | 1,983 | 11,770 | -1,395 | -7,855 | -21,322 | -34,431 | 2,582 | -16,137 | -8,102 | -20,252 | 5,069 | 6,243 | 4,358 | -21,989 |
Change in Receivables | -24,611 | 505 | -13,889 | -4,144 | -9,109 | 5,009 | -2,581 | -8,008 | 272 | -3,282 | 852 | -1,867 | 4,899 | 6,698 | -5,227 | 11,966 | 1,227 | 3,466 | -332 | 16,361 |
Changes in Securities Loaned | 2,279 | 1,366 | -3,249 | 2,589 | 1,378 | -2,229 | 377 | 1,133 | 888 | 1,993 | -305 | -2,219 | -91 | 2,582 | -688 | -437 | 1,923 | 1,166 | 1,559 | 1,148 |
Changes in Accounts Payable | 31,739 | 1,142 | 13,250 | 11,856 | 24,460 | -38,106 | 13,398 | -4,577 | 3,735 | 11,636 | -14,183 | -1,859 | 777 | -13,180 | -3,436 | -6,275 | 17,994 | -12,071 | 9,912 | 6,647 |
Operating Cash Flow | -7,098 | -2,410 | -3,332 | 11,829 | -23,976 | 11,800 | -17,323 | 2,525 | 4,360 | -17,752 | 3,747 | -9,666 | -9,865 | -13,996 | -7,553 | 14,913 | 239 | 349 | 2,128 | 4,615 |
Operating Cash Flow Growth (YoY) | - | - | - | 368.48% | - | - | - | - | - | - | - | - | - | - | - | 223.14% | -99.11% | - | - | - |
Capital Expenditures | -754 | -709 | -713 | -763 | -713 | -879 | -916 | -851 | -816 | -929 | -913 | -851 | -719 | -770 | -857 | -799 | -652 | -650 | -619 | -514 |
Purchases of Investments | -12,652 | -7,811 | -10,080 | -12,125 | -6,562 | -7,947 | -9,932 | -10,836 | -10,472 | -13,556 | -3,109 | -2,938 | -3,475 | -1,966 | -4,334 | -6,074 | -17,459 | -12,237 | -17,209 | - |
Proceeds from Sale of Investments | 15,568 | 8,292 | 10,787 | 7,342 | 8,751 | 7,857 | 8,877 | 7,590 | 12,968 | 6,134 | 7,239 | 8,472 | 6,543 | 3,837 | 5,967 | 9,602 | 25,872 | 10,875 | 8,668 | - |
Other Investing Activities | -8,762 | -13,169 | -10,670 | -12,126 | -6,510 | -9,181 | -4,725 | -9,571 | -626 | -450 | -2,700 | 1,558 | -3,390 | -203 | -4,937 | -11,256 | -7,603 | -13,294 | -5,987 | -11,139 |
Investing Cash Flow | -6,600 | -13,397 | -10,676 | -17,672 | -5,034 | -10,150 | -6,696 | -13,668 | 1,054 | -8,801 | 517 | 6,241 | -1,041 | 898 | -4,161 | -8,527 | 158 | -15,306 | -15,147 | 3,117 |
Long-Term Debt Issued | 56,195 | 44,985 | 24,843 | 36,902 | 32,439 | 27,996 | 25,899 | 26,391 | 28,079 | 17,508 | 20,855 | 18,842 | 21,219 | 18,177 | 14,510 | 19,489 | 20,284 | 16,682 | 24,491 | 24,988 |
Long-Term Debt Repaid | -27,561 | -28,199 | -26,102 | -24,247 | -20,845 | -25,634 | -15,860 | -21,015 | -17,721 | -15,958 | -14,588 | -19,058 | -15,201 | -7,879 | -7,505 | -8,420 | -11,094 | -13,425 | -16,399 | -20,526 |
Net Long-Term Debt Issued (Repaid) | 28,634 | 16,786 | -1,259 | 12,655 | 11,594 | 2,362 | 10,039 | 5,376 | 10,358 | 1,550 | 6,267 | -216 | 6,018 | 10,298 | 7,005 | 11,069 | 9,190 | 3,257 | 8,092 | 4,462 |
Repurchase of Common Stock | -2,875 | -1,530 | -1,146 | -1,129 | -2,030 | -852 | -806 | -823 | -1,718 | -1,342 | -1,542 | -1,089 | -2,205 | -1,745 | -2,608 | -2,837 | -3,681 | -2,847 | -3,628 | -3,018 |
Net Common Stock Issued (Repurchased) | -2,875 | -1,530 | -1,146 | -1,129 | -2,030 | -852 | -806 | -823 | -1,718 | -1,342 | -1,542 | -1,089 | -2,205 | -1,745 | -2,608 | -2,837 | -3,681 | -2,847 | -3,628 | -3,018 |
Issuance of Preferred Stock | - | - | - | - | - | 0 | 995 | - | - | - | - | - | - | 0 | - | - | - | 1,275 | - | - |
Net Preferred Stock Issued (Repurchased) | - | - | - | - | - | 0 | 995 | - | - | - | - | - | - | 0 | - | - | - | 1,275 | - | - |
Common Dividends Paid | -1,708 | -1,688 | -1,705 | -1,584 | -1,616 | -1,585 | -1,590 | -1,467 | -1,496 | -1,477 | -1,501 | -1,379 | -1,406 | -1,378 | -1,405 | -1,304 | -1,314 | -1,314 | -1,356 | -746 |
Other Financing Activities | 12,409 | 10,402 | 13,186 | 11,725 | 5,097 | 15,330 | 14,410 | -3,490 | 1,713 | 6,963 | -2,863 | 191 | -8,695 | 18,800 | -8,553 | -14,913 | 5,096 | 19,344 | 8,675 | -213 |
Financing Cash Flow | 36,460 | 23,970 | 9,076 | 21,667 | 13,045 | 15,255 | 23,048 | -404 | 8,857 | 5,694 | 361 | -2,493 | -6,288 | 25,975 | -4,567 | -7,985 | 9,291 | 19,715 | 11,783 | 485 |
Foreign Exchange Rate Adjustments | -928 | -202 | -464 | 2,567 | 1,318 | -2,603 | 1,895 | -598 | -1,198 | 1,690 | -1,218 | -346 | 325 | 3,554 | -3,309 | -3,201 | -1,327 | -896 | -1,381 | 145 |
Net Cash Flow | 21,834 | 7,961 | -5,396 | 18,391 | -14,647 | 14,302 | 924 | -12,145 | 13,073 | -19,169 | 3,407 | -6,264 | -16,869 | 16,431 | -19,590 | -4,800 | 8,361 | 3,862 | -2,617 | 8,362 |
Free Cash Flow | -7,852 | -3,119 | -4,045 | 11,066 | -24,689 | 10,921 | -18,239 | 1,674 | 3,544 | -18,681 | 2,834 | -10,517 | -10,584 | -14,766 | -8,410 | 14,114 | -413 | -301 | 1,509 | 4,101 |
Free Cash Flow Growth (YoY) | - | - | - | 561.05% | - | - | - | - | - | - | - | - | - | - | - | 244.16% | - | - | - | - |
FCF Margin | -38.15% | -17.43% | -22.20% | 65.90% | -139.18% | 67.32% | -118.57% | 11.15% | 23.41% | -144.86% | 21.35% | -78.15% | -72.91% | -115.82% | -64.76% | 107.48% | -2.79% | -2.07% | 10.23% | 27.79% |
Free Cash Flow Per Share | -4.98 | -1.97 | -2.54 | 6.95 | -15.43 | 6.79 | -11.34 | 1.04 | 2.19 | -11.48 | 1.72 | -6.37 | -6.36 | -8.79 | -4.96 | 8.19 | -0.24 | -0.17 | 0.83 | 2.23 |
Levered Free Cash Flow | 44,423 | 11,800 | 7,819 | 26,859 | -4,872 | 7,573 | -6,314 | 14,303 | 13,010 | -14,172 | 7,647 | -9,672 | -10,520 | -11,165 | 2,939 | 12,248 | 6,838 | -1,094 | 9,253 | -8,523 |
Unlevered Free Cash Flow | 16,016 | -4,812 | 9,283 | 14,387 | -16,252 | 5,371 | -16,155 | 9,102 | 2,848 | -15,564 | 1,553 | -9,284 | -16,341 | -21,310 | -3,898 | 1,324 | -2,179 | -4,227 | 1,301 | -12,881 |