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MS-PL

Morgan Stanley

MS-PL

Morgan Stanley • NYSE
$20.82 ▼ -0.00% (-0.00)
Market Cap $33.09 B
52w High $22.89
52w Low $19.26
Dividend Yield 1.22%
P/E 2.65
Volume 6.65K
Outstanding Shares 1.59B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $30.048B ▲ $11.055B ▲ $4.61B ▲ 15.342% ▲ $2.83 ▲ $7.376B ▲
Q2-2025 $28.162B ▲ $10.786B ▼ $3.539B ▼ 12.567% ▼ $2.15 ▼ $5.929B ▼
Q1-2025 $27.912B ▲ $10.838B ▲ $4.315B ▲ 15.459% ▲ $2.62 ▲ $6.409B ▼
Q4-2024 $25.982B ▼ $10.022B ▼ $3.714B ▲ 14.295% ▲ $2.25 ▲ $6.551B ▲
Q3-2024 $26.328B $10.039B $3.188B 12.109% $1.91 $5.491B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $103.049B ▼ $1.365T ▲ $1.254T ▲ $109.962B ▲
Q2-2025 $216.002B ▲ $1.354T ▲ $1.245T ▲ $108.184B ▲
Q1-2025 $87.565B ▼ $1.3T ▲ $1.192T ▲ $106.812B ▲
Q4-2024 $401.589B ▼ $1.215T ▼ $1.11T ▼ $104.511B ▲
Q3-2024 $434.537B $1.258T $1.153T $103.647B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $12.657B ▲ $-15.624B ▼ $-33.187B ▼ $43.734B ▲ $103.728B ▲ $-15.429B ▼
Q2-2025 $3.575B ▼ $11.829B ▲ $-17.672B ▼ $21.667B ▲ $18.391B ▲ $11.066B ▲
Q1-2025 $4.371B ▲ $-23.976B ▼ $-5.034B ▲ $13.045B ▼ $-14.647B ▼ $-24.689B ▼
Q4-2024 $3.724B ▲ $11.8B ▲ $-10.15B ▼ $15.255B ▼ $14.302B ▲ $10.921B ▲
Q3-2024 $3.226B $-17.323B $-6.696B $23.048B $924M $-18.239B

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Institutional Securities Segment
Institutional Securities Segment
 $6.82Bn ▲$14.28Bn ▲$8.98Bn ▼$7.64Bn ▼
Investment Management Segment
Investment Management Segment
 $1.46Bn ▲$3.02Bn ▲$1.60Bn ▼$1.55Bn ▼
Wealth Management Segment
Wealth Management Segment
 $7.27Bn ▲$14.36Bn ▲$7.33Bn ▼$7.76Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Morgan Stanley’s income statement shows a business that has grown meaningfully while staying consistently profitable. Revenue has climbed strongly over the past five years, more than doubling, with the latest year back near peak earnings levels. Profitability dipped after an exceptionally strong 2021 as markets became more challenging, but 2024 shows a clear recovery in both operating and net income. Overall, the firm looks like a mature, diversified franchise whose earnings move with market cycles but remain solidly in the black throughout those cycles.

Balance Sheet

Balance Sheet The balance sheet is large and steady, as you would expect for a global investment bank. Total assets have edged up over time, and the cash position, while volatile year to year, remains substantial. Debt has risen gradually, so leverage has crept higher, but shareholders’ equity has held roughly stable to slightly higher, suggesting the capital base is being maintained. In plain terms, the firm appears well established and adequately capitalized, but it is operating with meaningful leverage, which is normal in its business and still a key risk to monitor in downturns.

Cash Flow

Cash Flow Cash flows are choppy and not as straightforward to read as in non‑financial companies. Operating cash flow has swung between large inflows and outflows, and free cash flow has been negative in most years except one very strong year. This volatility largely reflects the nature of a trading- and balance‑sheet‑heavy business rather than a simple story of “good” or “bad” cash generation. Capital spending is modest relative to the size of the firm, indicating that most investment is in people, technology, and systems rather than physical assets. Overall, cash flows show a complex, market‑driven pattern rather than a smooth trend.

Competitive Edge

Competitive Edge Morgan Stanley holds a strong, though not unassailable, competitive position. Its strength comes from a diversified business mix across institutional securities, wealth management, and investment management, which helps cushion the impact when one area is under pressure. The wealth management arm, especially after the E*TRADE and Eaton Vance deals, gives it scale, recurring fee revenue, and deep relationships with high‑net‑worth and mass‑affluent clients. A powerful global brand, long track record in advisory and capital markets, and a broad product set add to its appeal. The main risks are intense competition from other global banks and asset managers, regulatory scrutiny, and the cyclical nature of deal-making and markets.

Innovation and R&D

Innovation and R&D Innovation at Morgan Stanley is focused less on traditional R&D labs and more on applied technology, particularly artificial intelligence. The firm has rolled out AI tools for advisors that search research, summarize client meetings, and automate follow‑ups, aiming to free up time for higher‑value client work. It is also embedding advanced analytics and low‑latency systems into trading, where even tiny speed and insight advantages can matter. Management is openly positioning AI as a core layer across the firm, while also exploring emerging areas like blockchain and, longer term, quantum computing. The big opportunity is higher productivity and better client service; the key risks are execution challenges, data/privacy concerns, and the fact that competitors can eventually copy similar tools.

Summary

Putting it together, Morgan Stanley looks like a large, diversified financial institution with solid earnings power, a stable capital base, and lumpy but explainable cash flow patterns tied to its markets-driven business. It benefits from leading positions in wealth management and capital markets, supported by a strong global brand and an active push into AI‑driven tools and infrastructure. Profits have cycled with market conditions, but the latest year shows a rebound after a softer period, underscoring resilience. The main things to watch going forward are how well it manages leverage and risk in a more volatile world, how effectively it turns its AI and technology investments into durable client and efficiency gains, and how it navigates competition and regulation across its key franchises.