Your Best Stock

Morgan Stanley MS

US equityMarket cap rank #43Capital MarketsAsset Management
$196.22
−$2.17 (-1.09%)
Market open · Sep 24, 1:10 pm ET
After hours $198.70 +0.15%
Open$197.13
Prev close$198.39
Day range$194.75 – $198.30
Volume2.24M
Market cap$308.18B
P/E (TTM)15.8
Dividend yield2.04%

Fundamentals

Latest reported quarter: Q2, ended Jun 2026

Revenue$19.88B+27.4% YoY
Net profit$5.65B+58.1% YoY
Diluted EPS$3.46+62.4% YoY
Free cash flow-$3.57B-132.2% YoY
Operating cash flow-$2.75B

Revenue, last 8 quarters

$14.3BSep '24$15.0BDec '24$16.5BMar '25$15.6BJun '25$17.1BSep '25$16.8BDec '25$19.3BMar '26$19.9BJun '26

Net profit, last 8 quarters

$3.2BSep '24$3.7BDec '24$4.4BMar '25$3.6BJun '25$4.7BSep '25$4.4BDec '25$5.6BMar '26$5.7BJun '26

Diluted EPS by quarter

1.88Sep '242.22Dec '242.60Mar '252.13Jun '252.80Sep '252.68Dec '253.43Mar '263.46Jun '26

Free cash flow by quarter

$-18.2BSep '24$10.9BDec '24$-24.7BMar '25$11.1BJun '25$-4.0BSep '25$-3.1BDec '25$-7.9BMar '26$-3.6BJun '26

Annual revenue

$45.8BFY20$56.4BFY21$50.2BFY22$50.7BFY23$57.6BFY24$66.0BFY25

Profitability & balance sheet

Net margin26.8%
Return on equity19.1%
Return on assets1.3%
Liabilities / assets93.0%
Cash & investments$123.04B
Total debt$422.38B
Net cash (debt)-$299.34B

Where the revenue comes from

Quarter 2026/Q2

By business line

  • Institutional Securities (IS)$11.04B 51.2%
  • Wealth Management (WM)$8.86B 41.1%
  • Investment Management (IM)$1.65B 7.6%

Income statement

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Revenue as Reported $21.35B $20.58B $70.65B $17.89B $18.22B
Total Operating Revenue $19.88B $19.32B $65.97B $16.76B $17.08B
Net Interest Income $2.78B $2.70B $10.05B $2.86B $2.49B
-Interest Income $15.90B $15.27B $59.06B $14.95B $15.46B
-Interest Expense $13.12B $12.57B $49.02B $12.10B $12.97B
Non-Interest Income $17.10B $16.62B $55.92B $13.91B $14.59B
-Fees and Commissions $7.28B $7.16B $26.40B $7.22B $6.77B
-Trading Gain Loss $6.14B $6.06B $16.86B $3.47B $4.72B
-Investment Banking Profit $2.65B $2.29B $8.20B $2.58B $2.27B
-Foreign Exchange Trading Gains $587.00M $673.00M $1.70B $211.00M $303.00M
-Other Non-Interest Income $223.00M $292.00M $1.41B $212.00M $159.00M
-Gain Loss on Sale of Assets $226.00M $146.00M $1.35B $220.00M $374.00M
Credit Losses Provision -$98.00M -$98.00M -$349.00M -$18.00M $0.00
Non-Interest Expense $12.44B $12.04B $43.52B $10.84B $11.06B
Occupancy and Equipment $482.00M $483.00M $1.87B $491.00M $473.00M
Professional Expense and Contract Services Expense $680.00M $602.00M $2.84B $769.00M $685.00M
Selling and Admin Expenses $8.59B $8.67B $30.25B $7.28B $7.72B
-Selling & Marketing Expense $401.00M $310.00M $1.17B $358.00M $280.00M
-General & Admin Expense $8.19B $8.36B $29.07B $6.92B $7.44B
Other Non-Interest Expenses $2.69B $2.28B $8.56B $2.30B $2.18B
Pretax Profit $7.35B $7.01B $21.95B $5.76B $6.03B
Tax $1.70B $1.37B $4.93B $1.34B $1.37B
Net Profit $5.65B $5.64B $17.03B $4.42B $4.66B
Profit from Continuing Operations $5.65B $5.64B $17.03B $4.42B $4.66B
Minority Interests $72.00M $71.00M $164.00M $27.00M $45.00M
Net Income to Parent Company $5.58B $5.57B $16.86B $4.40B $4.61B
Preferred Stock Dividends $145.00M $156.00M $612.00M $147.00M $160.00M
Net Income to Common Stockholders $5.44B $5.41B $16.25B $4.25B $4.45B
Basic EPS $3.50 $3.47 $10.32 $2.72 $2.83
Diluted EPS $3.46 $3.43 $10.21 $2.68 $2.80
Dividend Per Share $1.00 $1.00 $3.85 $1.00 $1.00
Other Income (Expense) -$178.00M -$144.00M
Special Income (Charges) -$178.00M -$144.00M
-Less:Restructuring and Mergern & Acquisition $178.00M $144.00M

Balance sheet

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Total Assets $1.68T $1.58T $1.42T $1.42T $1.36T
Cash, Cash Equivalents & Federal Funds Sold $289.65B $262.41B $231.94B $231.94B $215.47B
-Cash and Cash Equivalents $123.04B $95.78B $81.31B $81.31B $73.47B
-Money Market Investments $129.52B $128.88B $120.24B $120.24B $111.73B
-Restricted Cash and Investments $37.10B $37.75B $30.39B $30.39B $30.26B
Securities Investment $419.15B $402.83B $378.63B $378.63B $387.93B
-Trading Securities $265.88B $242.47B $215.01B $215.01B $224.39B
-Available for Sale Securities $71.91B $78.05B $80.91B $80.91B $85.73B
-Held to Maturity Securities $45.61B $47.21B $47.32B $47.32B $48.23B
-Short Term Investments $35.76B $35.10B $35.39B $35.39B $29.58B
Securities Lent $181.36B $154.57B $151.91B $151.91B $129.11B
Net Loan $302.38B $293.91B $278.09B $278.09B $267.30B
-Gross Loan $303.62B $295.09B $279.23B $279.23B $268.51B
-Allowance for Loans and Lease Losses $1.25B $1.17B $1.13B $1.13B $1.21B
Receivables $151.01B $132.60B $114.72B $114.72B $113.26B
-Accounts Receivable $151.01B $132.60B $114.72B $114.72B $113.26B
Goodwill and Other Intangible Assets $22.98B $23.07B $22.74B $22.74B $22.82B
-Goodwill $17.11B $17.11B $16.73B $16.73B $16.73B
-Other Intangible Assets $5.87B $5.96B $6.01B $6.01B $6.10B
Other Assets $308.53B $312.03B $241.98B $241.98B $228.92B
Total Liabilities $1.56T $1.47T $1.31T $1.31T $1.25T
Total Deposits $446.07B $427.97B $415.52B $415.52B $405.48B
Federal Funds Purchased and Securities Sold Under Agreement to Repurchase $102.20B $119.83B $78.54B $78.54B $61.50B
Derivative Product Liabilities $62.18B $45.86B $42.03B $42.03B $36.46B
Short-Term Debt and Capital Lease Obligation $30.91B $23.70B $21.15B $21.15B $20.92B
-Current Debt $30.91B $23.70B $21.15B $21.15B $20.92B
Derivative liabilities $20.74B $19.59B $17.31B $17.31B $15.94B
Trading Liabilities $193.41B $171.50B $127.54B $127.54B $125.95B
Payables $279.07B $259.29B $226.52B $226.52B $226.45B
-Accounts Payable $279.07B $259.29B $226.52B $226.52B $226.45B
Long Term Debt and Capital Lease Obligation $391.46B $370.53B $349.39B $349.39B $332.20B
-Long Term Debt $391.46B $370.53B $349.39B $349.39B $332.20B
Other Liabilities $31.58B $27.76B $29.62B $29.62B $28.85B
Total Equity $117.44B $115.38B $112.65B $112.65B $111.05B
Stockholders' Equity $116.33B $114.29B $111.63B $111.63B $109.96B
Capital Stock $9.77B $9.77B $9.77B $9.77B $9.77B
-Common Stock $20.00M $20.00M $20.00M $20.00M $20.00M
-Preferred Stock $9.75B $9.75B $9.75B $9.75B $9.75B
Additional Paid-In Capital $31.60B $30.99B $31.15B $31.15B $30.73B
Retained Earnings $122.77B $118.91B $115.09B $115.09B $112.43B
Less: Treasury Stock $41.48B $39.88B $38.10B $38.10B $36.62B
Gains/Losses Not Affecting Retained Earnings -$6.33B -$5.51B -$6.29B -$6.29B -$6.35B
Minority Interests $1.11B $1.10B $1.02B $1.02B $1.09B
Long Term Equity Investment $246.00M $246.00M
Net PPE $20.00M $20.00M
-Gross PPE $20.00M $20.00M

Cash flow

Line item 2026 Q2 2026 Q1 2025 ANNUAL 2025 Q4 2025 Q3
Operating Cash Flow -$2.75B -$7.10B -$17.89B -$2.41B -$3.33B
Net cash flow from continuing operations -$2.75B -$7.10B -$17.89B -$2.41B -$3.33B
Net Income from Continuing Operations $5.65B $5.64B $17.03B $4.42B $4.66B
Depreciation & Depletion & Amortization $1.20B $714.00M $4.66B $1.14B $1.35B
Other Non-Cash Items $186.00M $74.00M $408.00M $140.00M $112.00M
Change in Working Capital -$10.45B -$14.19B -$42.82B -$9.16B -$9.90B
-Change in Receivables -$15.59B -$24.61B -$26.64B $505.00M -$13.89B
-Change in Payables and Accrued Expense $25.19B $31.74B $50.71B $1.14B $13.25B
-Change in Loans -$18.27B $32.66B $26.79B $8.53B -$13.01B
-Change in Other Working Capital -$1.78B -$53.98B -$93.68B -$19.33B $3.76B
Net cash flow from investing -$7.20B -$6.60B -$46.78B -$13.40B -$10.68B
Net Cash Flow from Continuing Investing Activities -$7.20B -$6.60B -$46.78B -$13.40B -$10.68B
Net PPE Purchase and Sale -$819.00M -$754.00M -$2.90B -$709.00M -$713.00M
Net Investment Purchase and Sale $6.92B $2.92B -$1.41B $481.00M $707.00M
Net Income from Loans -$12.69B -$8.45B -$41.38B -$12.82B -$10.37B
Net Other Investing Changes -$618.00M -$313.00M -$1.09B -$346.00M -$296.00M
Financing Cash Flow $37.06B $36.46B $67.76B $23.97B $9.08B
Net Cash Flow from Continuing Financing Activities $37.06B $36.46B $67.76B $23.97B $9.08B
Increase/Decrease in Deposit $18.23B $12.75B $39.14B $10.03B $15.88B
Net Issuance Payments of Debt $16.77B $28.63B $39.78B $16.79B -$1.26B
Net Common Stock Issuance -$1.67B -$2.88B -$5.84B -$1.53B -$1.15B
Cash Dividends Paid -$1.68B -$1.71B -$6.59B -$1.69B -$1.71B
Net Other Financing Activities $5.41B -$342.00M $1.27B $370.00M -$2.69B
Ending Cash Balance $160.14B $133.53B $111.70B $111.70B $103.73B
Net Change in Cash $27.11B $22.76B $3.09B $8.16B -$4.93B
Beginning Cash Balance $133.53B $111.70B $105.39B $103.73B $109.13B
Effect of Exchange Rate Changes -$503.00M -$928.00M $3.22B -$202.00M -$464.00M
Free Cash Flow -$3.57B -$7.85B -$20.79B -$3.12B -$4.05B
Deferred Tax $561.00M
Net Preferred Stock Issuance $0.00 $0.00 $0.00
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