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MS-PO

Morgan Stanley

MS-PO

Morgan Stanley • NYSE
$17.61 ▼ -0.51% (-0.09)
Market Cap $27.99 B
52w High $19.38
52w Low $16.77
Dividend Yield 1.06%
P/E 2.24
Volume 132.54K
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 Q4-2024Q1-2025Q2-2025Q3-2025
Institutional Securities Segment
Institutional Securities Segment
 $7.27Bn ▲$8.98Bn ▲$7.64Bn ▼$8.52Bn ▲
Investment Management Segment
Investment Management Segment
 $1.64Bn ▲$1.60Bn ▼$1.55Bn ▼$1.65Bn ▲
Wealth Management Segment
Wealth Management Segment
 $7.48Bn ▲$7.33Bn ▼$7.76Bn ▲$8.23Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Morgan Stanley’s income statement shows a clear growth story. Revenue has expanded steadily over the past five years, with especially strong gains more recently. Profits have been consistently positive, though margins have moved around as markets shifted and costs rose, then improved again in the latest year. Overall, the firm looks like a mature franchise that has grown its top line while keeping earnings healthy, even through more volatile years.

Balance Sheet

Balance Sheet The balance sheet reflects a large, complex global financial institution with a very sizeable asset base. Cash levels move around but remain substantial, and debt has increased over time, which is typical for a capital-markets-heavy bank that relies on market funding. Shareholders’ equity has inched up rather than leapt, suggesting gradual capital build rather than aggressive balance sheet expansion. The profile looks solid but naturally carries the usual leverage and funding risks of a major investment and wealth management bank.

Cash Flow

Cash Flow Cash flow is choppy, which is common for a firm heavily involved in trading, securities financing, and balance sheet activities. Operating and free cash flows swing sharply from positive to negative, driven more by movements in trading assets, client balances, and funding flows than by simple operating profitability. Capital spending is modest and stable, underscoring that this is a people-and-technology business rather than a heavy bricks-and-mortar operator. For a bank like this, earnings quality, capital ratios, and funding stability matter more than traditional free-cash-flow analysis.

Competitive Edge

Competitive Edge Morgan Stanley holds a strong, though heavily contested, position among global financial institutions. Its brand in investment banking, trading, and especially wealth management is a major asset. The strategic tilt toward wealth and investment management gives it more recurring, fee-based revenue and helps smooth out the ups and downs of capital markets. At the same time, it faces intense competition from other Wall Street and universal banks, plus growing digital and fintech players. Its moat is supported by brand, client relationships, scale, and technology, but it is not immune to market cycles, regulation, and pricing pressure.

Innovation and R&D

Innovation and R&D The firm has made technology a core part of its strategy rather than a side project. It is deeply investing in artificial intelligence to support advisors, improve trading and risk tools, and make better use of its research and data. Its multi-cloud partnerships with major providers aim to deliver more resilient, scalable, and secure infrastructure. Large-scale data analytics and advanced risk platforms help differentiate its advisory and portfolio tools. Integration of platforms like E*TRADE and workplace solutions, along with a push into sustainable investing and strong cybersecurity, further reinforce its technology-driven edge. Innovation here is focused on enhancing client experience, advisor productivity, and risk management rather than on flashy standalone products.

Summary

Overall, Morgan Stanley appears to be a large, diversified financial firm combining strong revenue growth with steady, if cyclical, profitability. Its balance sheet is big and leveraged in line with global peers, with ample liquidity but the usual sensitivities to markets and regulation. Cash flow volatility is part of its business model rather than a clear red flag on its own. Strategically, its shift toward wealth and investment management adds resilience, while heavy investment in AI, cloud, and data aims to deepen client relationships and improve efficiency. Key uncertainties remain tied to market conditions, interest rates, regulatory changes, and competitive dynamics, but the firm enters these challenges with meaningful scale, a strong franchise, and a clear technology agenda.