Skip to main content
logo
Morgan Stanley (MS)
NYSE: MS · Real-Time Price · USD
196.31
-0.01 (-0.01%)
At close: Sep 25, 2026, 4:00 PM EDT
196.65
+0.34 (0.17%)
After-hours: Sep 25, 2026, 7:59 PM EDT

Morgan Stanley Income Statement

Millions USD. Fiscal year is Jan - Dec.
Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Interest and Dividend Income
16,12815,41915,17415,83015,29314,11713,70614,50013,68613,06713,01912,27011,00810,1259,3175,9333,6352,7253,0432,396
Total Interest Expense
13,12212,57012,09912,96512,55811,39510,93911,98911,46211,13410,93310,1498,9037,6346,9133,5911,330434322288
Net Interest Income
3,0062,8493,0752,8652,7352,7222,7672,5112,2241,9332,0862,1212,1052,4912,4042,3422,3052,2912,7212,108
Brokerage Commission
1,8331,6901,5571,4731,4251,4811,3901,2941,1831,2271,1101,0981,0901,2391,1691,1331,2201,4161,3071,280
Trading & Principal Transactions
6,7236,7303,6805,0204,7455,1113,7784,0024,1314,8523,3053,6793,8024,4773,0173,3313,5973,9832,3942,861
Asset Management Fee
6,9126,7306,7886,4415,9535,9636,0595,7475,4245,2695,0415,0314,8174,7284,8034,7444,9125,1195,3955,201
Underwriting & Investment Banking Fee
2,6512,2892,5782,2661,6441,7111,7911,5901,7351,5891,4151,0481,1551,3301,3181,3731,1501,7582,5813,013
Gain on Sale of Investments (Rev)
8563-15---43-1519-11417714425615
Other Revenue
215287206156290736438239322223-462774992113156-6619270275
Revenue Before Loan Losses
21,34820,58017,89018,22416,79217,73916,22315,38315,01915,13612,89613,27313,45714,51712,74912,98613,13214,80114,52414,753
Provision for Loan Losses
989818-1961351157976-63134161234873510157524
Revenue
21,25020,48217,87218,22416,59617,60416,10815,30414,94315,14212,89313,13913,29614,28312,66212,95113,03114,74414,51914,729
Revenue Growth (YoY)
28.04%16.35%10.95%19.08%11.06%16.26%24.94%16.48%12.39%6.01%1.82%1.45%2.03%-3.13%-12.79%-12.07%-11.27%-6.78%6.81%26.86%
Salaries & Employee Benefits
8,1878,3647,0637,4427,1907,5216,2896,7336,4606,6965,9065,9356,2626,4105,6155,6145,5506,2745,3855,920
Cost of Services Provided
4,2303,7993,9063,6983,7443,6333,8433,4943,4683,1943,4263,2083,2753,1933,3753,1203,1423,0183,1572,920
Total Operating Expenses
12,41712,16310,96911,14010,93411,15410,13210,2279,9289,8909,3329,1439,5379,6038,9908,7348,6929,2928,5428,840
Operating Income
8,8338,3196,9037,0845,6626,4505,9765,0775,0155,2523,5613,9963,7594,6803,6724,2174,3395,4525,9775,889
Other Non-Operating Income (Expenses)
-1,480-1,129-1,115-1,048-999-901-1,032-846-939-857-1,144-849-936-920-871-827-1,015-861-809-1,005
EBT Excluding Unusual Items
7,3537,1905,7886,0364,6635,5494,9444,2314,0764,3952,4173,1472,8233,7602,8013,3903,3244,5915,1684,884
Merger & Restructuring Charges
--178---------353--------102-
Asset Writedown
-5-1-28-8-41-5-38-10-2--27-2-11--7-2-5-3-25-10
Legal Settlements
-----------249--------157-
Other Unusual Items
----------308---------
Pretax Income
7,3487,0115,7606,0284,6225,5444,9064,2214,0744,3952,0963,1452,8123,7602,7943,3883,3194,5884,8844,874
Income Tax Expense
1,6951,3731,3361,3731,0471,1731,1829959579335557105917275287267838731,1681,150
Earnings From Continuing Ops.
5,6535,6384,4244,6553,5754,3713,7243,2263,1173,4621,5412,4352,2213,0332,2662,6622,5363,7153,7163,724
Net Income to Company
5,6535,6384,4244,6553,5754,3713,7243,2263,1173,4621,5412,4352,2213,0332,2662,6622,5363,7153,7163,724
Minority Interest in Earnings
-72-71-27-45-36-56-10-38-41-50-24-27-39-53-30-30-41-49-20-17
Net Income
5,5815,5674,3974,6103,5394,3153,7143,1883,0763,4121,5172,4082,1822,9802,2362,6322,4953,6663,6963,707
Preferred Dividends & Other Adjustments
145156147160147158150160134146134146133144123138104124104123
Net Income to Common
5,4365,4114,2504,4503,3924,1573,5643,0282,9423,2661,3832,2622,0492,8362,1132,4942,3913,5423,5923,584
Net Income Growth (YoY)
60.26%30.17%19.25%46.96%15.30%27.28%157.70%33.86%43.58%15.16%-34.55%-9.30%-14.30%-19.93%-41.17%-30.41%-29.84%-11.05%9.98%38.01%
Shares Outstanding (Basic)
1,5541,5611,5641,5711,5771,5841,5831,5881,5941,6011,6071,6241,6351,6451,6521,6741,7041,7331,7511,781
Shares Outstanding (Diluted)
1,5691,5761,5861,5901,5931,6001,6081,6091,6111,6161,6251,6431,6511,6631,6791,6971,7231,7551,7851,812
Shares Change (YoY)
-1.51%-1.50%-1.37%-1.18%-1.12%-0.99%-1.05%-2.07%-2.42%-2.83%-3.22%-3.18%-4.18%-5.24%-5.94%-6.35%-6.41%-3.46%-0.94%15.71%
EPS (Basic)
3.503.472.722.832.152.622.251.911.852.040.861.391.251.721.281.491.402.042.052.01
EPS (Diluted)
3.463.432.682.802.132.602.221.881.822.020.841.381.241.701.261.471.392.022.011.98
EPS Growth (YoY)
62.44%31.92%20.72%48.94%17.03%28.71%163.62%36.23%46.77%18.82%-33.19%-6.12%-10.79%-15.84%-37.24%-25.76%-24.87%-7.76%11.02%19.28%

Additional Metrics

Fiscal Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021
Period Ending
Jun '26 Mar '26 Dec '25 Sep '25 Jun '25 Mar '25 Dec '24 Sep '24 Jun '24 Mar '24 Dec '23 Sep '23 Jun '23 Mar '23 Dec '22 Sep '22 Jun '22 Mar '22 Dec '21 Sep '21
Free Cash Flow
-3,566-7,852-3,119-4,04511,066-24,68910,921-18,2391,6743,544-18,6812,834-10,517-10,584-14,766-8,41014,114-413-3011,509
Free Cash Flow Per Share
-2.27-4.98-1.97-2.546.95-15.436.79-11.341.042.19-11.501.73-6.37-6.36-8.79-4.968.19-0.23-0.170.83
Dividend Per Share
1.1501.0001.0751.0001.0000.9251.0000.9250.9250.8500.8500.8500.8500.7750.7750.7750.7750.7000.7000.700
Dividend Growth (YoY)
15.00%8.11%7.50%8.11%8.11%8.82%17.65%8.82%8.82%9.68%9.68%9.68%9.68%10.71%10.71%10.71%10.71%100.00%100.00%100.00%
Operating Margin
41.57%40.62%38.63%38.87%34.12%36.64%37.10%33.17%33.56%34.69%27.62%30.41%28.27%32.77%29.00%32.56%33.30%36.98%41.17%39.98%
Profit Margin
25.58%26.42%23.78%24.42%20.44%23.61%22.13%19.79%19.69%21.57%10.73%17.22%15.41%19.86%16.69%19.26%18.35%24.02%24.74%24.33%
Free Cash Flow Margin
-16.78%-38.34%-17.45%-22.20%66.68%-140.25%67.80%-119.18%11.20%23.41%-144.89%21.57%-79.10%-74.10%-116.62%-64.94%108.31%-2.80%-2.07%10.24%
Effective Tax Rate
23.07%19.58%23.19%22.78%22.65%21.16%24.09%23.57%23.49%21.23%26.48%22.58%21.02%19.34%18.90%21.43%23.59%19.03%23.91%23.59%
SEC Filings: 10-K · 10-Q