MORGAN STANLEY
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $70.6B | $61.8B | $54.1B | $53.7B | $59.8B |
| Interest expense | — | — | $42.1B | $12.3B | $1.4B |
| Pretax income | $22.0B | $17.6B | $11.8B | $14.1B | $19.7B |
| Income tax expense | $4.9B | $4.1B | $2.6B | $2.9B | $4.5B |
| Net income | $16.9B | $13.4B | $9.1B | $11.0B | $15.0B |
| Balance Sheet | |||||
| Cash and equivalents | $111.7B | $105.4B | $89.2B | $128.1B | $127.7B |
| Total assets | $1.4T | $1.2T | $1.2T | $1.2T | $1.2T |
| Total liabilities | $1.3T | $1.1T | $1.1T | $1.1T | $1.1T |
| Total debt | $348.9B | $288.8B | $263.7B | $238.1B | $233.1B |
| Stockholders' equity | $111.6B | $104.5B | $99.0B | $100.1B | $105.4B |
| Cash Flow Statement | |||||
| Cash from operations | -$17.9B | $1.4B | -$33.5B | -$6.4B | $34.0B |
| Depreciation and amortization | $4.7B | $5.2B | $4.3B | $4.0B | $4.2B |
| Stock-based compensation | $1.9B | $1.6B | $1.7B | $1.9B | $2.1B |
| Dividends paid | $6.6B | $6.1B | $5.8B | $5.4B | $4.2B |
| Share repurchases | $4.6B | $3.2B | $5.3B | $9.9B | $11.5B |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 1.6B · Free float 100.0%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.