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Morgan Stanley (MS) Financials

Morgan Stanley logo
$129.06 -1.78 (-1.36%)
As of 05/20/2025 03:59 PM Eastern
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Annual Income Statements for Morgan Stanley

Annual Income Statements for Morgan Stanley

This table shows Morgan Stanley's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Income / (Loss) Attributable to Common Shareholders		 12,800 8,530 10,540 14,566 10,500 8,512 8,222 5,588 5,508 5,671
Consolidated Net Income / (Loss)		 13,529 9,230 11,179 15,120 11,179 9,237 8,883 6,216 6,123 6,279
Net Income / (Loss) Continuing Operations		 13,529 9,230 11,179 15,120 11,179 9,237 8,887 6,235 6,122 6,295
Total Pre-Tax Income 		17,596 11,813 14,089 19,668 14,418 11,301 11,237 10,403 8,848 8,495
Total Revenue		 61,761 54,143 53,668 59,755 48,757 41,538 40,107 37,945 34,631 35,155
Net Interest Income / (Expense)		 8,611 8,230 9,327 8,045 6,313 4,694 3,806 3,300 3,698 3,093
Total Interest Income		 54,135 8,230 9,327 9,411 10,162 17,098 13,892 8,997 7,016 5,835
Investment Securities Interest Income		 54,135 45,849 21,595 9,411 10,162 17,098 13,892 8,997 7,016 5,835
Total Interest Expense		 45,524 0.00 0.00 1,366 3,849 12,404 10,086 5,697 3,318 2,742
Long-Term Debt Interest Expense		 45,524 - - 1,366 3,849 12,404 10,086 5,697 3,318 2,742
Total Non-Interest Income		 53,150 45,913 44,341 51,710 42,444 36,844 36,301 34,645 30,933 32,062
Trust Fees by Commissions		 5,094 4,537 4,938 5,521 4,851 3,919 4,190 4,061 4,109 -
Other Service Charges		 23,764 20,592 19,861 21,009 14,950 13,948 13,641 12,645 11,522 5,047
Net Realized & Unrealized Capital Gains on Investments		 17,587 15,836 13,943 14,186 14,969 12,814 11,988 11,936 10,369 10,655
Investment Banking Income		 6,705 4,948 5,599 10,994 7,674 6,163 6,482 6,003 4,933 16,360
Provision for Credit Losses		 264 532 280 4.00 761 161 - - - -
Total Non-Interest Expense		 43,901 41,798 39,299 40,083 33,578 30,076 28,870 27,542 25,783 26,660
Salaries and Employee Benefits		 26,178 24,558 23,053 24,628 20,854 18,837 17,632 17,166 15,878 16,016
Net Occupancy & Equipment Expense		 5,993 5,670 5,222 4,844 4,024 3,622 3,407 3,120 3,095 3,149
Marketing Expense		 965 898 905 643 434 660 691 609 587 681
Other Operating Expenses		 10,765 10,672 10,119 9,968 8,266 6,957 7,140 6,647 6,223 6,814
Income Tax Expense		 4,067 2,583 2,910 4,548 3,239 2,064 2,350 4,168 2,726 2,200
Preferred Stock Dividends Declared		 590 557 489 468 496 530 526 523 471 456
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 139 143 150 86 183 195 135 105 - 152
Basic Earnings per Share		 $8.04 $5.24 $6.23 $8.16 $6.55 $5.26 $4.81 $3.14 $2.98 $2.97
Weighted Average Basic Shares Outstanding		 1.59B 1.63B 1.69B 1.79B 1.60B 1.62B 1.71B 1.78B 1.85B 1.91B
Diluted Earnings per Share		 $7.95 $5.18 $6.15 $8.03 $6.46 $5.19 $4.73 $3.07 $2.92 $2.90
Weighted Average Diluted Shares Outstanding		 1.61B 1.65B 1.71B 1.81B 1.62B 1.64B 1.74B 1.82B 1.89B 1.95B
Weighted Average Basic & Diluted Shares Outstanding		 1.61B 1.64B 1.68B 1.78B 1.81B 1.60B 1.71B 1.78B 1.85B 1.91B
Cash Dividends to Common per Share		 $3.55 $3.25 $2.95 $2.10 $1.40 $1.30 $1.10 $0.90 $0.70 $0.55

Quarterly Income Statements for Morgan Stanley

This table shows Morgan Stanley's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 4,157 3,564 3,028 2,942 3,266 1,383 2,262 2,049 2,836 2,113 2,494
Consolidated Net Income / (Loss)		 4,371 3,724 3,226 3,117 3,462 1,541 2,435 2,221 3,033 2,266 2,662
Net Income / (Loss) Continuing Operations		 4,371 3,724 3,226 3,117 3,462 1,541 2,435 2,221 3,033 2,266 2,662
Total Pre-Tax Income 		5,544 4,906 4,221 4,074 4,395 2,096 3,145 2,812 3,760 2,794 3,388
Total Revenue		 17,739 16,223 15,383 15,019 15,136 12,896 13,273 13,457 14,517 12,749 12,986
Net Interest Income / (Expense)		 2,353 2,552 2,196 2,067 1,796 1,897 1,977 2,010 2,346 2,319 2,510
Total Interest Income		 13,748 36,942 2,196 2,067 12,930 -15,886 12,126 2,010 9,980 -3,036 6,101
Investment Securities Interest Income		 13,748 13,491 14,185 13,529 12,930 12,830 12,126 10,913 9,980 9,232 6,101
Total Interest Expense		 11,395 34,390 0.00 0.00 11,134 -17,783 10,149 0.00 7,634 -5,355 3,591
Long-Term Debt Interest Expense		 11,395 - - - 11,134 - 10,149 - 7,634 - 3,591
Total Non-Interest Income		 15,386 13,671 13,187 12,952 13,340 10,999 11,296 11,447 12,171 10,430 10,476
Trust Fees by Commissions		 1,481 1,390 1,294 1,183 1,227 1,110 1,098 1,090 1,239 1,169 1,133
Other Service Charges		 6,714 6,497 5,986 5,746 5,535 4,980 5,327 5,305 4,980 4,841 4,807
Net Realized & Unrealized Capital Gains on Investments		 5,480 3,993 4,317 4,288 4,989 3,494 3,823 3,897 4,622 3,102 3,163
Investment Banking Income		 1,711 1,791 1,590 1,735 1,589 1,415 1,048 1,155 1,330 1,318 1,373
Provision for Credit Losses		 135 115 79 76 -6.00 3.00 134 161 234 87 35
Total Non-Interest Expense		 12,060 11,202 11,083 10,869 10,747 10,797 9,994 10,484 10,523 9,868 9,563
Salaries and Employee Benefits		 7,521 6,289 6,733 6,460 6,696 5,951 5,935 6,262 6,410 5,615 5,614
Net Occupancy & Equipment Expense		 1,499 1,586 1,515 1,475 1,417 1,515 1,403 1,397 1,355 1,376 1,303
Marketing Expense		 238 279 224 245 217 224 191 236 247 295 215
Other Operating Expenses		 2,802 3,048 2,611 2,689 2,417 3,107 2,465 2,589 2,511 2,582 2,431
Income Tax Expense		 1,173 1,182 995 957 933 555 710 591 727 528 726
Preferred Stock Dividends Declared		 158 150 160 134 146 134 146 133 144 123 138
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 56 10 38 41 50 24 27 39 53 30 30
Basic Earnings per Share		 $2.62 $2.24 $1.91 $1.85 $2.04 $0.88 $1.39 $1.25 $1.72 $1.30 $1.49
Weighted Average Basic Shares Outstanding		 1.58B 1.59B 1.59B 1.59B 1.60B 1.63B 1.62B 1.64B 1.65B 1.69B 1.67B
Diluted Earnings per Share		 $2.60 $2.23 $1.88 $1.82 $2.02 $0.86 $1.38 $1.24 $1.70 $1.27 $1.47
Weighted Average Diluted Shares Outstanding		 1.60B 1.61B 1.61B 1.61B 1.62B 1.65B 1.64B 1.65B 1.66B 1.71B 1.70B
Weighted Average Basic & Diluted Shares Outstanding		 1.60B 1.61B 1.61B 1.62B 1.63B 1.64B 1.64B 1.66B 1.67B 1.68B 1.69B
Cash Dividends to Common per Share		 $0.93 - $0.93 $0.85 $0.85 - $0.85 $0.78 $0.78 - $0.78

Annual Cash Flow Statements for Morgan Stanley

This table details how cash moves in and out of Morgan Stanley's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Net Change in Cash & Equivalents		 16,154 -38,895 402 22,071 23,483 -5,025 8,629 3,035 -8,192 -2,039
Net Cash From Operating Activities		 1,362 -33,536 -6,397 33,971 -25,231 40,773 7,305 -4,505 5,383 -4,463
Net Cash From Continuing Operating Activities		 1,362 -33,536 -6,397 33,971 -25,231 40,773 7,305 -4,505 5,383 -4,463
Net Income / (Loss) Continuing Operations		 13,529 9,230 11,179 15,120 11,179 9,237 8,883 6,216 6,123 6,279
Consolidated Net Income / (Loss)		 13,529 9,230 11,179 15,120 11,179 9,237 8,883 6,216 6,123 6,279
Provision For Loan Losses		 264 532 280 4.00 761 161 -15 29 144 123
Depreciation Expense		 5,161 4,256 3,998 4,216 3,769 2,643 1,844 1,753 1,736 1,433
Non-Cash Adjustments to Reconcile Net Income		 1,778 1,554 1,644 1,942 1,336 1,123 1,119 3,926 2,613 2,486
Changes in Operating Assets and Liabilities, net		 -19,370 -49,108 -23,498 12,689 -42,276 27,609 -4,526 -16,429 -5,233 -14,784
Net Cash From Investing Activities		 -29,460 -3,084 -11,632 -49,897 -37,898 -33,561 -22,881 -12,391 -19,508 -19,995
Net Cash From Continuing Investing Activities		 -29,460 -3,084 -11,632 -49,897 -37,898 -33,561 -22,881 -12,391 -19,508 -19,995
Purchase of Investment Securities		 -66,752 -31,472 -56,910 -111,465 -79,972 -62,724 -38,459 -37,967 -61,591 -64,582
Sale and/or Maturity of Investments		 37,292 28,388 45,278 61,568 38,267 29,163 15,876 25,576 42,083 43,589
Net Cash From Financing Activities		 46,756 -2,726 22,714 41,547 83,784 -11,966 24,205 16,261 7,363 24,154
Net Cash From Continuing Financing Activities		 46,756 -2,726 22,714 41,547 83,784 -11,966 24,205 16,261 7,363 24,154
Net Change in Deposits		 23,955 -5,075 1,659 36,897 75,417 2,513 28,384 3,573 -171 22,490
Issuance of Debt		 112,723 79,220 72,460 89,648 60,726 30,605 40,059 55,416 44,959 31,812
Issuance of Preferred Equity		 995 0.00 994 1,275 0.00 497 0.00 994 0.00 1,493
Repayment of Debt		 -80,230 -64,805 -35,782 -70,124 -47,690 -36,853 -36,297 -37,398 -31,596 -27,377
Repurchase of Common Equity		 -4,199 -6,178 -10,871 -12,075 -1,890 -5,954 -5,566 -4,292 -3,933 -2,773
Payment of Dividends		 -6,138 -5,763 -5,401 -4,171 -2,739 -2,627 -2,375 -2,085 -1,842 -1,551
Other Financing Activities, Net		 -350 -125 -345 97 -40 -147 - 53 -54 60
Effect of Exchange Rate Changes		 -2,504 451 -4,283 -3,550 2,828 -271 - 3,670 -1,430 -1,735
Cash Interest Paid		 46,359 41,940 9,819 1,303 4,120 12,511 9,977 5,377 2,834 2,672
Cash Income Taxes Paid		 1,885 2,035 4,147 4,231 2,591 1,908 1,377 1,390 831 677

Quarterly Cash Flow Statements for Morgan Stanley

This table details how cash moves in and out of Morgan Stanley's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 -14,647 14,302 924 -12,145 13,073 -19,169 3,407 -6,264 -16,869 16,431 -19,590
Net Cash From Operating Activities		 -23,976 11,800 -17,323 2,525 4,360 -17,752 3,747 -9,666 -9,865 -13,996 -7,553
Net Cash From Continuing Operating Activities		 -23,976 11,800 -17,323 2,525 4,360 -17,752 3,747 -9,666 -9,865 -13,996 -7,553
Net Income / (Loss) Continuing Operations		 4,371 3,724 3,226 3,117 3,462 1,541 2,435 2,221 3,033 2,266 2,662
Consolidated Net Income / (Loss)		 4,371 3,724 3,226 3,117 3,462 1,541 2,435 2,221 3,033 2,266 2,662
Provision For Loan Losses		 135 115 79 76 -6.00 3.00 134 161 234 87 35
Depreciation Expense		 865 1,645 1,270 1,271 975 1,406 988 922 940 1,207 928
Non-Cash Adjustments to Reconcile Net Income		 537 426 418 504 430 162 295 473 624 -241 680
Changes in Operating Assets and Liabilities, net		 -29,884 5,890 -22,316 -2,443 -501 -20,864 -105 -13,443 -14,696 -17,315 -11,858
Net Cash From Investing Activities		 -5,034 -10,150 -6,696 -13,668 1,054 -8,801 517 6,241 -1,041 898 -4,161
Net Cash From Continuing Investing Activities		 -5,034 -10,150 -6,696 -13,668 1,054 -8,801 517 6,241 -1,041 898 -4,161
Purchase of Investment Securities		 -13,761 -18,007 -15,573 -21,258 -11,914 -15,281 -6,376 -2,231 -7,584 -2,939 -10,128
Sale and/or Maturity of Investments		 8,727 7,857 8,877 7,590 12,968 6,480 6,893 8,472 6,543 3,837 5,967
Net Cash From Financing Activities		 13,045 15,255 23,048 -404 8,857 5,694 361 -2,493 -6,288 25,975 -4,567
Net Cash From Continuing Financing Activities		 13,045 15,255 23,048 -404 8,857 5,694 361 -2,493 -6,288 25,975 -4,567
Net Change in Deposits		 5,520 12,436 14,460 -3,475 534 6,113 -3,054 950 -9,084 18,475 -9,009
Issuance of Debt		 32,439 32,354 25,899 25,166 29,304 18,304 20,993 18,704 21,219 18,177 16,369
Repayment of Debt		 -21,528 -27,018 -15,836 -19,655 -17,721 -16,104 -14,442 -19,414 -14,845 -7,411 -8,857
Repurchase of Common Equity		 -2,030 -852 -806 -823 -1,718 -1,342 -1,542 -1,089 -2,205 -1,745 -2,608
Payment of Dividends		 -1,616 -1,585 -1,590 -1,467 -1,496 -1,477 -1,501 -1,379 -1,406 -1,378 -1,405
Other Financing Activities, Net		 260 -80 -74 -150 -46 200 -93 -265 33 -143 -51
Effect of Exchange Rate Changes		 1,318 -2,603 1,895 -598 -1,198 1,690 -1,218 -346 325 3,554 -3,309
Cash Interest Paid		 12,464 11,861 11,478 11,142 11,878 11,641 11,137 10,250 8,912 5,480 2,932
Cash Income Taxes Paid		 534 436 406 810 233 787 270 671 307 1,342 817

Annual Balance Sheets for Morgan Stanley

This table presents Morgan Stanley's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Total Assets		 1,215,071 1,193,693 1,180,231 1,188,140 1,115,862 895,429 853,531 851,733 814,949 787,465
Cash and Due from Banks		 105,386 89,232 128,127 127,725 105,654 82,171 30,541 24,816 22,017 19,827
Trading Account Securities		 353,351 335,199 346,366 446,542 423,592 313,075 322,431 298,243 217,872 467,104
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Goodwill		 16,706 16,707 16,652 16,833 11,635 7,143 6,688 6,597 6,577 6,584
Intangible Assets		 6,453 7,055 7,618 8,360 4,980 2,107 2,163 2,448 2,721 2,984
Other Assets		 733,175 745,500 681,468 588,680 570,001 490,933 470,409 498,281 442,443 169,053
Total Liabilities & Shareholders' Equity		 1,215,071 1,193,693 1,180,231 1,188,140 1,115,862 895,429 853,531 851,733 814,949 787,465
Total Liabilities		 1,109,643 1,093,711 1,079,000 1,081,542 1,012,713 812,732 772,125 773,267 737,772 711,281
Non-Interest Bearing Deposits		 376,007 351,804 356,646 347,574 310,782 190,356 187,820 159,436 155,863 156,034
Short-Term Debt		 226,005 270,799 278,668 290,873 278,024 252,034 229,318 247,934 245,141 225,491
Long-Term Debt		 325,647 291,444 261,895 255,467 240,673 215,831 211,036 217,445 192,678 182,590
Other Long-Term Liabilities		 181,984 179,664 181,791 187,628 183,234 154,511 143,951 148,452 144,090 147,166
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 105,428 99,982 101,231 106,598 103,149 82,697 81,406 78,466 77,177 76,184
Total Preferred & Common Equity		 104,511 99,038 100,141 105,441 101,781 81,549 80,246 77,391 76,050 75,182
Preferred Stock		 9,750 8,750 8,750 - 9,250 8,520 - - - -
Total Common Equity		 94,761 90,288 91,391 105,441 92,531 73,029 80,246 77,391 76,050 75,182
Common Stock		 25,096 24,538 24,478 24,906 22,523 21,037 20,978 20,658 20,440 21,764
Retained Earnings		 104,989 97,996 94,862 89,432 78,694 70,589 64,175 57,577 53,679 49,204
Treasury Stock		 -33,613 -31,139 -26,577 -17,500 -9,767 -18,727 -13,971 -9,211 -5,797 -4,059
Accumulated Other Comprehensive Income / (Loss)		 -6,814 -6,421 -6,253 -3,102 -1,962 -2,788 -2,292 -3,060 -2,643 -1,656
Other Equity Adjustments		 5,103 5,314 4,881 11,705 3,043 2,918 11,356 11,427 10,371 9,929
Noncontrolling Interest		 917 944 1,090 1,157 1,368 1,148 1,160 1,075 1,127 1,002

Quarterly Balance Sheets for Morgan Stanley

This table presents Morgan Stanley's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Total Assets		 1,300,296 1,215,071 1,258,027 1,212,447 1,228,503 1,193,693 1,169,013 1,164,911 1,199,904 1,180,231 1,160,029
Cash and Due from Banks		 90,739 105,386 91,084 90,160 102,305 89,232 108,401 104,994 111,258 128,127 111,696
Trading Account Securities		 774,516 353,351 380,454 348,140 789,377 335,199 383,681 331,891 367,179 346,366 422,224
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 202,742 0.00 0.00 0.00 0.00
Goodwill		 16,714 16,706 16,735 16,719 16,722 16,707 16,699 16,652 16,657 16,652 16,721
Intangible Assets		 6,305 6,453 6,620 6,763 6,914 7,055 7,204 7,322 7,470 7,618 7,893
Other Assets		 412,022 733,175 763,134 750,665 313,185 745,500 450,286 704,052 697,340 681,468 601,495
Total Liabilities & Shareholders' Equity		 1,300,296 1,215,071 1,258,027 1,212,447 1,228,503 1,193,693 1,169,013 1,164,911 1,199,904 1,180,231 1,160,029
Total Liabilities		 1,192,449 1,109,643 1,153,356 1,110,841 1,128,363 1,093,711 1,068,855 1,063,550 1,097,950 1,079,000 1,057,940
Non-Interest Bearing Deposits		 381,563 376,007 363,722 348,890 352,494 351,804 345,458 348,511 347,523 356,646 338,123
Short-Term Debt		 271,003 226,005 274,920 271,574 296,774 270,799 277,140 273,183 281,191 278,668 289,596
Long-Term Debt		 344,261 325,647 333,778 309,415 302,419 291,444 269,925 269,636 274,440 261,895 241,221
Other Long-Term Liabilities		 195,622 181,984 180,936 180,962 176,676 179,664 176,332 172,220 194,796 181,791 189,000
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 107,847 105,428 104,671 101,606 100,140 99,982 100,158 101,361 101,954 101,231 102,089
Total Preferred & Common Equity		 106,812 104,511 103,647 100,714 99,198 99,038 99,211 100,386 100,826 100,141 101,011
Preferred Stock		 9,750 9,750 9,750 8,750 8,750 8,750 - 8,750 - 8,750 8,750
Total Common Equity		 97,062 94,761 93,897 91,964 90,448 90,288 99,211 91,636 100,826 91,391 92,261
Common Stock		 24,516 25,096 24,745 24,369 23,816 24,538 24,371 24,007 23,533 24,478 24,053
Retained Earnings		 107,653 104,989 102,911 101,374 99,811 97,996 98,007 97,151 96,392 94,862 94,055
Treasury Stock		 -34,423 -33,613 -32,868 -32,129 -31,372 -31,139 -29,959 -28,480 -27,481 -26,577 -24,949
Accumulated Other Comprehensive Income / (Loss)		 -5,961 -6,814 -5,986 -6,760 -7,057 -6,421 -7,202 -6,300 -5,711 -6,253 -5,758
Other Equity Adjustments		 5,277 5,103 5,095 5,110 5,250 5,314 13,994 5,258 14,093 4,881 4,860
Noncontrolling Interest		 1,035 917 1,024 892 942 944 947 975 1,128 1,090 1,078

Annual Metrics And Ratios for Morgan Stanley

This table displays calculated financial ratios and metrics derived from Morgan Stanley's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 14.07% 0.89% -10.19% 22.56% 17.38% 3.57% 5.70% 9.57% -1.49% 2.57%
EBITDA Growth		 41.62% -11.16% -24.27% 31.32% 30.43% 6.60% 7.61% 14.85% 6.61% 108.92%
EBIT Growth		 48.95% -16.15% -28.37% 36.41% 27.58% 0.57% 8.02% 17.57% 4.16% 136.56%
NOPAT Growth		 46.58% -17.43% -26.06% 35.25% 21.02% 3.94% 42.53% 1.85% -2.75% 71.01%
Net Income Growth		 46.58% -17.43% -26.06% 35.25% 21.02% 3.99% 42.91% 1.52% -2.48% 71.23%
EPS Growth		 53.47% -15.77% -23.41% 24.30% 24.47% 9.73% 54.07% 5.14% 0.69% 81.25%
Operating Cash Flow Growth		 104.06% -424.25% -118.83% 234.64% -161.88% 458.15% 262.15% -183.69% 220.61% -423.64%
Free Cash Flow Firm Growth		 266.72% -150.18% 239.76% 73.43% -207.21% -163.17% 236.96% 8.11% -165.64% -40.29%
Invested Capital Growth		 -0.78% 3.18% -1.71% 5.00% 12.95% 5.52% -4.06% 5.60% 6.35% -6.05%
Revenue Q/Q Growth		 5.69% 0.27% -3.20% 1.58% 5.68% 6.21% -2.32% 1.28% 3.85% -0.07%
EBITDA Q/Q Growth		 15.47% -3.01% -10.49% 1.21% 9.18% 8.25% -4.09% 2.18% 7.91% 78.53%
EBIT Q/Q Growth		 19.00% -5.58% -12.92% 2.36% 5.71% 8.40% -5.18% 2.21% 10.04% 105.94%
NOPAT Q/Q Growth		 19.24% -7.28% -11.48% 2.05% 10.99% 8.81% 11.21% -14.05% 13.69% 66.80%
Net Income Q/Q Growth		 19.24% -7.28% -11.48% 2.05% 10.99% 8.80% 11.20% -14.06% 13.83% 67.13%
EPS Q/Q Growth		 20.82% -7.33% -10.74% 2.29% 8.94% 10.43% 12.89% -14.96% 16.80% 79.01%
Operating Cash Flow Q/Q Growth		 104.83% -12.61% -180.49% 312.67% -109,800.00% 20.88% -60.57% 59.16% -52.41% 68.62%
Free Cash Flow Firm Q/Q Growth		 134.08% -156.79% -44.63% 83.54% -393.68% -204.89% 60.39% 40.02% -247.21% 145.38%
Invested Capital Q/Q Growth		 -7.89% 2.32% 1.40% -1.16% 13.33% -1.53% -4.12% -2.10% 0.87% -7.21%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 36.85% 29.68% 33.70% 39.97% 37.30% 33.57% 32.62% 32.04% 30.56% 28.24%
EBIT Margin		 28.49% 21.82% 26.25% 32.91% 29.57% 27.21% 28.02% 27.42% 25.55% 24.16%
Profit (Net Income) Margin		 21.91% 17.05% 20.83% 25.30% 22.93% 22.24% 22.15% 16.38% 17.68% 17.86%
Tax Burden Percent		 76.89% 78.13% 79.35% 76.88% 77.54% 81.74% 79.05% 59.75% 69.20% 73.91%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 23.11% 21.87% 20.65% 23.12% 22.47% 18.26% 20.91% 40.07% 30.81% 25.90%
Return on Invested Capital (ROIC)		 2.05% 1.42% 1.73% 2.37% 1.91% 1.72% 1.67% 1.18% 1.23% 1.26%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.05% 1.42% 1.73% 2.37% 1.91% 1.72% 1.67% 1.17% 1.23% 1.26%
Return on Net Nonoperating Assets (RNNOA)		 11.12% 7.76% 9.03% 12.05% 10.12% 9.53% 9.44% 6.81% 6.76% 7.21%
Return on Equity (ROE)		 13.17% 9.17% 10.76% 14.42% 12.03% 11.26% 11.11% 7.99% 7.99% 8.47%
Cash Return on Invested Capital (CROIC)		 2.83% -1.72% 3.45% -2.51% -10.25% -3.65% 5.81% -4.27% -4.93% 7.50%
Operating Return on Assets (OROA)		 1.46% 1.00% 1.19% 1.71% 1.43% 1.29% 1.32% 1.25% 1.10% 1.07%
Return on Assets (ROA)		 1.12% 0.78% 0.94% 1.31% 1.11% 1.06% 1.04% 0.75% 0.76% 0.79%
Return on Common Equity (ROCE)		 11.87% 8.28% 10.19% 13.61% 10.72% 10.51% 10.96% 7.87% 7.87% 8.34%
Return on Equity Simple (ROE_SIMPLE)		 12.95% 9.32% 11.16% 14.34% 10.98% 11.33% 11.07% 8.03% 8.05% 8.35%
Net Operating Profit after Tax (NOPAT)		 13,529 9,230 11,179 15,120 11,179 9,237 8,887 6,235 6,122 6,295
NOPAT Margin		 21.91% 17.05% 20.83% 25.30% 22.93% 22.24% 22.16% 16.43% 17.68% 17.91%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 53.65% 57.49% 54.37% 50.40% 51.91% 55.66% 54.18% 55.07% 56.48% 56.45%
Operating Expenses to Revenue		 71.08% 77.20% 73.23% 67.08% 68.87% 72.41% 71.98% 72.58% 74.45% 75.84%
Earnings before Interest and Taxes (EBIT)		 17,596 11,813 14,089 19,668 14,418 11,301 11,237 10,403 8,848 8,495
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 22,757 16,069 18,087 23,884 18,187 13,944 13,081 12,156 10,584 9,928
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 2.12 1.62 1.45 1.51 1.18 0.97 0.71 1.00 0.83 0.64
Price to Tangible Book Value (P/TBV)		 2.81 2.21 1.98 1.99 1.44 1.11 0.80 1.13 0.95 0.73
Price to Revenue (P/Rev)		 3.26 2.71 2.47 2.67 2.25 1.71 1.42 2.04 1.83 1.37
Price to Earnings (P/E)		 15.72 17.20 12.58 10.94 10.43 8.34 6.91 13.84 11.49 8.48
Dividend Yield		 2.84% 3.64% 3.76% 2.37% 2.31% 2.97% 3.33% 2.10% 2.07% 2.22%
Earnings Yield		 6.36% 5.81% 7.95% 9.14% 9.59% 12.00% 14.47% 7.23% 8.70% 11.80%
Enterprise Value to Invested Capital (EV/IC)		 1.00 0.95 0.86 0.89 0.86 0.85 0.86 0.92 0.69 0.65
Enterprise Value to Revenue (EV/Rev)		 10.66 11.62 10.34 9.69 10.94 11.23 11.13 13.11 10.31 8.97
Enterprise Value to EBITDA (EV/EBITDA)		 28.92 39.17 30.68 24.25 29.32 33.44 34.13 40.94 33.72 31.77
Enterprise Value to EBIT (EV/EBIT)		 37.40 53.28 39.38 29.44 36.98 41.26 39.74 47.83 40.34 37.13
Enterprise Value to NOPAT (EV/NOPAT)		 48.65 68.19 49.63 38.30 47.69 50.48 50.24 79.81 58.30 50.11
Enterprise Value to Operating Cash Flow (EV/OCF)		 483.21 0.00 0.00 17.05 0.00 11.44 61.12 0.00 66.30 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 35.24 0.00 24.86 0.00 0.00 0.00 14.42 0.00 0.00 8.41
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 5.23 5.62 5.34 5.13 5.03 5.66 5.41 5.93 5.67 5.36
Long-Term Debt to Equity		 3.09 2.92 2.59 2.40 2.33 2.61 2.59 2.77 2.50 2.40
Financial Leverage		 5.42 5.48 5.23 5.08 5.31 5.53 5.67 5.80 5.52 5.74
Leverage Ratio		 11.73 11.80 11.40 10.98 10.82 10.66 10.67 10.71 10.45 10.72
Compound Leverage Factor		 11.73 11.80 11.40 10.98 10.82 10.66 10.67 10.71 10.45 10.72
Debt to Total Capital		 83.96% 84.90% 84.23% 83.67% 83.41% 84.98% 84.40% 85.57% 85.01% 84.27%
Short-Term Debt to Total Capital		 34.40% 40.89% 43.42% 44.55% 44.71% 45.78% 43.95% 45.59% 47.60% 46.56%
Long-Term Debt to Total Capital		 49.56% 44.01% 40.81% 39.13% 38.70% 39.20% 40.45% 39.98% 37.41% 37.70%
Preferred Equity to Total Capital		 1.48% 1.32% 1.36% 0.00% 1.49% 1.55% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.14% 0.14% 0.17% 0.18% 0.22% 0.21% 0.22% 0.20% 0.22% 0.21%
Common Equity to Total Capital		 14.42% 13.63% 14.24% 16.15% 14.88% 13.26% 15.38% 14.23% 14.77% 15.53%
Debt to EBITDA		 24.24 34.99 29.89 22.87 28.52 33.55 33.66 38.28 41.37 41.10
Net Debt to EBITDA		 19.61 29.44 22.80 17.53 22.71 27.66 29.70 34.49 27.63 26.83
Long-Term Debt to EBITDA		 14.31 18.14 14.48 10.70 13.23 15.48 16.13 17.89 18.20 18.39
Debt to NOPAT		 40.78 60.91 48.36 36.13 46.40 50.65 49.55 74.64 71.52 64.83
Net Debt to NOPAT		 32.99 51.25 36.89 27.69 36.95 41.76 43.72 67.24 47.78 42.31
Long-Term Debt to NOPAT		 24.07 31.58 23.43 16.90 21.53 23.37 23.75 34.87 31.47 29.01
Noncontrolling Interest Sharing Ratio		 9.91% 9.71% 5.29% 5.61% 10.92% 6.60% 1.40% 1.41% 1.39% 1.49%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 18,674 -11,201 22,323 -15,972 -60,105 -19,565 30,972 -22,614 -24,609 37,489
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.41 0.00 0.00 -11.69 -15.62 -1.58 3.07 -3.97 -7.42 13.67
Operating Cash Flow to Interest Expense		 0.03 0.00 0.00 24.87 -6.56 3.29 0.72 -0.79 1.62 -1.63
Operating Cash Flow Less CapEx to Interest Expense		 0.03 0.00 0.00 24.87 -6.56 3.29 0.72 -0.79 1.62 -1.63
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.04 0.04
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 657,080 662,225 641,794 652,938 621,846 550,562 521,760 543,845 514,996 484,265
Invested Capital Turnover		 0.09 0.08 0.08 0.09 0.08 0.08 0.08 0.07 0.07 0.07
Increase / (Decrease) in Invested Capital		 -5,145 20,431 -11,144 31,092 71,284 28,802 -22,085 28,849 30,731 -31,194
Enterprise Value (EV)		 658,134 629,402 554,866 579,070 533,178 466,316 446,510 497,626 356,887 315,420
Market Capitalization		 201,201 146,697 132,590 159,298 109,517 70,954 56,836 77,336 63,277 48,077
Book Value per Share		 $58.82 $55.01 $54.07 $58.76 $51.14 $45.12 $46.65 $42.81 $40.61 $38.83
Tangible Book Value per Share		 $44.44 $40.53 $39.71 $44.72 $41.96 $39.40 $41.51 $37.80 $35.64 $33.89
Total Capital		 657,080 662,225 641,794 652,938 621,846 550,562 521,760 543,845 514,996 484,265
Total Debt		 551,652 562,243 540,563 546,340 518,697 467,865 440,354 465,379 437,819 408,081
Total Long-Term Debt		 325,647 291,444 261,895 255,467 240,673 215,831 211,036 217,445 192,678 182,590
Net Debt		 446,266 473,011 412,436 418,615 413,043 385,694 388,514 419,215 292,483 266,341
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 4.00 19 -1.00 16
Net Nonoperating Obligations (NNO)		 551,652 562,243 540,563 546,340 518,697 467,865 440,354 465,379 437,819 408,081
Total Depreciation and Amortization (D&A)		 5,161 4,256 3,998 4,216 3,769 2,643 1,844 1,753 1,736 1,433
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $8.04 $5.24 $6.23 $8.16 $6.55 $5.26 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 1.59B 1.63B 1.69B 1.79B 1.60B 1.62B 0.00 0.00 0.00 0.00
Adjusted Diluted Earnings per Share		 $7.95 $5.18 $6.15 $8.03 $6.46 $5.19 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 1.61B 1.65B 1.71B 1.81B 1.62B 1.64B 0.00 0.00 0.00 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $5.26 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.61B 1.64B 1.68B 1.78B 1.81B 1.60B 0.00 0.00 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 13,529 9,230 11,179 15,120 11,179 9,237 8,887 6,235 6,122 6,295
Normalized NOPAT Margin		 21.91% 17.05% 20.83% 25.30% 22.93% 22.24% 22.16% 16.43% 17.68% 17.91%
Pre Tax Income Margin		 28.49% 21.82% 26.25% 32.91% 29.57% 27.21% 28.02% 27.42% 25.55% 24.16%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.39 0.00 0.00 14.40 3.75 0.91 1.11 1.83 2.67 3.10
NOPAT to Interest Expense		 0.30 0.00 0.00 11.07 2.90 0.74 0.88 1.09 1.85 2.30
EBIT Less CapEx to Interest Expense		 0.39 0.00 0.00 14.40 3.75 0.91 1.11 1.83 2.67 3.10
NOPAT Less CapEx to Interest Expense		 0.30 0.00 0.00 11.07 2.90 0.74 0.88 1.09 1.85 2.30
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 45.37% 62.44% 48.31% 27.59% 24.50% 28.44% 26.74% 33.54% 30.08% 24.70%
Augmented Payout Ratio		 76.41% 129.37% 145.56% 107.45% 41.41% 92.90% 89.40% 102.59% 94.32% 68.86%

Quarterly Metrics And Ratios for Morgan Stanley

This table displays calculated financial ratios and metrics derived from Morgan Stanley's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 17.20% 25.80% 15.90% 11.61% 4.26% 1.15% 2.21% 2.47% -1.92% -12.22% -11.98%
EBITDA Growth		 19.35% 87.06% 32.86% 43.14% 14.26% -12.47% -4.24% -11.93% -15.01% -34.63% -26.96%
EBIT Growth		 26.14% 134.06% 34.21% 44.88% 16.89% -24.98% -7.17% -15.28% -18.05% -42.79% -30.49%
NOPAT Growth		 26.26% 141.66% 32.48% 40.34% 14.14% -31.99% -8.53% -12.42% -18.36% -39.02% -28.52%
Net Income Growth		 26.26% 141.66% 32.48% 40.34% 14.14% -31.99% -8.53% -12.42% -18.36% -39.02% -28.52%
EPS Growth		 28.71% 159.30% 36.23% 46.77% 18.82% -32.28% -6.12% -10.79% -15.84% -36.82% -25.76%
Operating Cash Flow Growth		 -649.91% 166.47% -562.32% 126.12% 144.20% -26.84% 149.61% -164.82% -4,227.62% -4,110.32% -454.93%
Free Cash Flow Firm Growth		 49.31% 146.95% -429.54% -536.42% -733.14% -240.87% -139.15% 374.54% 119.58% 148.98% 128.06%
Invested Capital Growth		 3.40% -0.78% 10.22% 5.96% 6.35% 3.18% 2.26% -0.90% -0.46% -1.71% -4.19%
Revenue Q/Q Growth		 9.34% 5.46% 2.42% -0.77% 17.37% -2.84% -1.37% -7.30% 13.87% -1.83% -1.11%
EBITDA Q/Q Growth		 -2.17% 19.30% 2.73% -0.47% 53.34% -15.27% 10.69% -20.55% 17.47% -7.30% 1.79%
EBIT Q/Q Growth		 13.00% 16.23% 3.61% -7.30% 109.69% -33.35% 11.84% -25.21% 34.57% -17.53% 2.08%
NOPAT Q/Q Growth		 17.37% 15.44% 3.50% -9.97% 124.66% -36.71% 9.64% -26.77% 33.85% -14.88% 4.97%
Net Income Q/Q Growth		 17.37% 15.44% 3.50% -9.97% 124.66% -36.71% 9.64% -26.77% 33.85% -14.88% 4.97%
EPS Q/Q Growth		 16.59% 18.62% 3.30% -9.90% 134.88% -37.68% 11.29% -27.06% 33.86% -13.61% 5.76%
Operating Cash Flow Q/Q Growth		 -303.19% 168.12% -786.06% -42.09% 124.56% -573.77% 138.76% 2.02% 29.52% -85.30% -150.65%
Free Cash Flow Firm Q/Q Growth		 -318.82% 114.10% -78.25% 7.80% -102.68% -58.98% -246.91% 33.75% -54.91% -55.81% 1,130.14%
Invested Capital Q/Q Growth		 10.05% -7.89% 4.51% -2.39% 5.60% 2.32% 0.47% -2.04% 2.46% 1.40% -2.64%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 36.13% 40.38% 35.70% 35.59% 35.48% 27.16% 31.14% 27.75% 32.38% 31.38% 33.24%
EBIT Margin		 31.25% 30.24% 27.44% 27.13% 29.04% 16.25% 23.69% 20.90% 25.90% 21.92% 26.09%
Profit (Net Income) Margin		 24.64% 22.96% 20.97% 20.75% 22.87% 11.95% 18.35% 16.50% 20.89% 17.77% 20.50%
Tax Burden Percent		 78.84% 75.91% 76.43% 76.51% 78.77% 73.52% 77.42% 78.98% 80.66% 81.10% 78.57%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 21.16% 24.09% 23.57% 23.49% 21.23% 26.48% 22.58% 21.02% 19.34% 18.90% 21.43%
Return on Invested Capital (ROIC)		 2.23% 2.15% 1.80% 1.76% 1.85% 0.99% 1.55% 1.37% 1.69% 1.47% 1.76%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.23% 2.15% 1.80% 1.76% 1.85% 0.99% 1.55% 1.37% 1.69% 1.47% 1.76%
Return on Net Nonoperating Assets (RNNOA)		 13.02% 11.65% 10.16% 9.76% 10.55% 5.44% 8.25% 7.32% 9.13% 7.71% 9.11%
Return on Equity (ROE)		 15.25% 13.80% 11.97% 11.52% 12.40% 6.43% 9.80% 8.69% 10.83% 9.18% 10.87%
Cash Return on Invested Capital (CROIC)		 -1.31% 2.83% -8.06% -4.20% -4.73% -1.72% -0.68% 2.48% 2.05% 3.45% 6.23%
Operating Return on Assets (OROA)		 1.59% 1.55% 1.32% 1.29% 1.31% 0.74% 1.10% 0.96% 1.14% 0.99% 1.23%
Return on Assets (ROA)		 1.25% 1.18% 1.01% 0.98% 1.03% 0.55% 0.85% 0.76% 0.92% 0.81% 0.97%
Return on Common Equity (ROCE)		 13.75% 12.44% 11.28% 10.42% 11.73% 5.81% 9.27% 7.90% 10.30% 8.69% 10.29%
Return on Equity Simple (ROE_SIMPLE)		 13.52% 0.00% 10.95% 10.48% 9.74% 0.00% 10.03% 10.14% 10.41% 0.00% 12.50%
Net Operating Profit after Tax (NOPAT)		 4,371 3,724 3,226 3,117 3,462 1,541 2,435 2,221 3,033 2,266 2,662
NOPAT Margin		 24.64% 22.96% 20.97% 20.75% 22.87% 11.95% 18.35% 16.50% 20.89% 17.77% 20.50%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 52.19% 50.26% 55.07% 54.46% 55.03% 59.63% 56.72% 58.67% 55.19% 57.15% 54.92%
Operating Expenses to Revenue		 67.99% 69.05% 72.05% 72.37% 71.00% 83.72% 75.30% 77.91% 72.49% 77.40% 73.64%
Earnings before Interest and Taxes (EBIT)		 5,544 4,906 4,221 4,074 4,395 2,096 3,145 2,812 3,760 2,794 3,388
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6,409 6,551 5,491 5,345 5,370 3,502 4,133 3,734 4,700 4,001 4,316
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.92 2.12 1.78 1.70 1.68 1.62 1.30 1.48 1.38 1.45 1.36
Price to Tangible Book Value (P/TBV)		 2.52 2.81 2.37 2.29 2.27 2.21 1.71 2.01 1.82 1.98 1.86
Price to Revenue (P/Rev)		 2.90 3.26 2.86 2.78 2.77 2.71 2.39 2.53 2.61 2.47 2.27
Price to Earnings (P/E)		 13.63 15.72 15.76 15.89 16.94 17.20 13.93 14.30 14.17 12.58 10.46
Dividend Yield		 3.13% 2.84% 3.36% 3.53% 3.60% 3.64% 4.08% 3.81% 3.65% 3.76% 3.92%
Earnings Yield		 7.33% 6.36% 6.35% 6.29% 5.90% 5.81% 7.18% 6.99% 7.06% 7.95% 9.56%
Enterprise Value to Invested Capital (EV/IC)		 1.00 1.00 0.98 0.96 0.94 0.95 0.88 0.91 0.89 0.86 0.88
Enterprise Value to Revenue (EV/Rev)		 11.22 10.66 11.91 11.66 12.02 11.62 10.53 10.86 10.96 10.34 10.01
Enterprise Value to EBITDA (EV/EBITDA)		 30.34 28.92 35.30 35.80 39.33 39.17 34.32 34.82 33.89 30.68 27.45
Enterprise Value to EBIT (EV/EBIT)		 38.52 37.40 47.05 47.92 52.89 53.28 45.45 45.74 44.10 39.38 34.29
Enterprise Value to NOPAT (EV/NOPAT)		 50.01 48.65 61.32 62.25 68.16 68.19 57.12 57.29 55.72 49.63 43.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 483.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 69.79
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 35.24 0.00 0.00 0.00 0.00 0.00 36.35 43.29 24.86 13.76
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 5.71 5.23 5.82 5.72 5.98 5.62 5.46 5.36 5.45 5.34 5.20
Long-Term Debt to Equity		 3.19 3.09 3.19 3.05 3.02 2.92 2.70 2.66 2.69 2.59 2.36
Financial Leverage		 5.84 5.42 5.64 5.54 5.71 5.48 5.33 5.34 5.40 5.23 5.18
Leverage Ratio		 12.16 11.73 11.85 11.71 12.02 11.80 11.52 11.46 11.76 11.40 11.24
Compound Leverage Factor		 12.16 11.73 11.85 11.71 12.02 11.80 11.52 11.46 11.76 11.40 11.24
Debt to Total Capital		 85.09% 83.96% 85.33% 85.11% 85.68% 84.90% 84.53% 84.27% 84.50% 84.23% 83.87%
Short-Term Debt to Total Capital		 37.48% 34.40% 38.54% 39.79% 42.44% 40.89% 42.82% 42.41% 42.76% 43.42% 45.76%
Long-Term Debt to Total Capital		 47.61% 49.56% 46.79% 45.33% 43.24% 44.01% 41.71% 41.86% 41.73% 40.81% 38.11%
Preferred Equity to Total Capital		 1.35% 1.48% 1.37% 1.28% 1.25% 1.32% 0.00% 1.36% 0.00% 1.36% 1.38%
Noncontrolling Interests to Total Capital		 0.14% 0.14% 0.14% 0.13% 0.13% 0.14% 0.15% 0.15% 0.17% 0.17% 0.17%
Common Equity to Total Capital		 13.42% 14.42% 13.16% 13.47% 12.93% 13.63% 15.33% 14.23% 15.33% 14.24% 14.58%
Debt to EBITDA		 25.86 24.24 30.89 31.66 35.80 34.99 33.02 32.41 32.20 29.89 26.27
Net Debt to EBITDA		 22.04 19.61 26.26 26.75 29.68 29.44 26.48 26.14 25.75 22.80 20.74
Long-Term Debt to EBITDA		 14.47 14.31 16.94 16.86 18.07 18.14 16.29 16.10 15.90 14.48 11.94
Debt to NOPAT		 42.61 40.78 53.65 55.04 62.03 60.91 54.95 53.31 52.93 48.36 42.03
Net Debt to NOPAT		 36.33 32.99 45.62 46.50 51.44 51.25 44.06 43.00 42.33 36.89 33.19
Long-Term Debt to NOPAT		 23.84 24.07 29.42 29.31 31.31 31.58 27.11 26.48 26.14 23.43 19.10
Noncontrolling Interest Sharing Ratio		 9.85% 9.91% 5.72% 9.54% 5.35% 9.71% 5.33% 9.09% 4.88% 5.29% 5.28%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -19,407 8,869 -62,920 -35,298 -38,286 -18,890 -11,882 8,088 6,047 13,410 30,348
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 -1.70 0.26 0.00 0.00 -3.44 0.00 -1.17 0.00 0.79 0.00 8.45
Operating Cash Flow to Interest Expense		 -2.10 0.34 0.00 0.00 0.39 0.00 0.37 0.00 -1.29 0.00 -2.10
Operating Cash Flow Less CapEx to Interest Expense		 -2.10 0.34 0.00 0.00 0.39 0.00 0.37 0.00 -1.29 0.00 -2.10
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.04 0.05 0.05
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 723,111 657,080 713,369 682,595 699,333 662,225 647,223 644,180 657,585 641,794 632,906
Invested Capital Turnover		 0.09 0.09 0.09 0.08 0.08 0.08 0.08 0.08 0.08 0.08 0.09
Increase / (Decrease) in Invested Capital		 23,778 -5,145 66,146 38,415 41,748 20,431 14,317 -5,867 -3,014 -11,144 -27,686
Enterprise Value (EV)		 721,984 658,134 695,711 657,012 658,346 629,402 568,603 583,323 584,871 554,866 554,723
Market Capitalization		 186,674 201,201 167,323 156,541 151,766 146,697 128,992 135,773 139,370 132,590 125,774
Book Value per Share		 $60.18 $58.82 $58.04 $56.59 $56.49 $55.01 $59.88 $54.87 $59.95 $54.07 $53.74
Tangible Book Value per Share		 $45.91 $44.44 $43.60 $42.14 $41.73 $40.53 $45.45 $40.51 $45.60 $39.71 $39.40
Total Capital		 723,111 657,080 713,369 682,595 699,333 662,225 647,223 644,180 657,585 641,794 632,906
Total Debt		 615,264 551,652 608,698 580,989 599,193 562,243 547,065 542,819 555,631 540,563 530,817
Total Long-Term Debt		 344,261 325,647 333,778 309,415 302,419 291,444 269,925 269,636 274,440 261,895 241,221
Net Debt		 524,525 446,266 517,614 490,829 496,888 473,011 438,664 437,825 444,373 412,436 419,121
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 615,264 551,652 608,698 580,989 599,193 562,243 547,065 542,819 555,631 540,563 530,817
Total Depreciation and Amortization (D&A)		 865 1,645 1,270 1,271 975 1,406 988 922 940 1,207 928
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.62 $2.24 $1.91 $1.85 $2.04 $0.88 $1.39 $1.25 $1.72 $1.30 $1.49
Adjusted Weighted Average Basic Shares Outstanding		 1.58B 1.59B 1.59B 1.59B 1.60B 1.63B 1.62B 1.64B 1.65B 1.69B 1.67B
Adjusted Diluted Earnings per Share		 $2.60 $2.23 $1.88 $1.82 $2.02 $0.86 $1.38 $1.24 $1.70 $1.27 $1.47
Adjusted Weighted Average Diluted Shares Outstanding		 1.60B 1.61B 1.61B 1.61B 1.62B 1.65B 1.64B 1.65B 1.66B 1.71B 1.70B
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.60B 1.61B 1.61B 1.62B 1.63B 1.64B 1.64B 1.66B 1.67B 1.68B 1.69B
Normalized Net Operating Profit after Tax (NOPAT)		 4,371 3,724 3,226 3,117 3,462 1,541 2,435 2,221 3,033 2,266 2,662
Normalized NOPAT Margin		 24.64% 22.96% 20.97% 20.75% 22.87% 11.95% 18.35% 16.50% 20.89% 17.77% 20.50%
Pre Tax Income Margin		 31.25% 30.24% 27.44% 27.13% 29.04% 16.25% 23.69% 20.90% 25.90% 21.92% 26.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.49 0.14 0.00 0.00 0.39 0.00 0.31 0.00 0.49 0.00 0.94
NOPAT to Interest Expense		 0.38 0.11 0.00 0.00 0.31 0.00 0.24 0.00 0.40 0.00 0.74
EBIT Less CapEx to Interest Expense		 0.49 0.14 0.00 0.00 0.39 0.00 0.31 0.00 0.49 0.00 0.94
NOPAT Less CapEx to Interest Expense		 0.38 0.11 0.00 0.00 0.31 0.00 0.24 0.00 0.40 0.00 0.74
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 43.34% 45.37% 53.15% 56.29% 60.60% 62.44% 56.90% 54.68% 52.33% 48.31% 42.26%
Augmented Payout Ratio		 74.59% 76.41% 94.47% 107.68% 119.52% 129.37% 123.00% 129.79% 141.83% 145.56% 137.07%

Frequently Asked Questions About Morgan Stanley's Financials

When does Morgan Stanley's financial year end?

According to the most recent income statement we have on file, Morgan Stanley's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Morgan Stanley's net income changed over the last 9 years?

Morgan Stanley's net income appears to be on an upward trend, with a most recent value of $13.53 billion in 2024, rising from $6.28 billion in 2015. The previous period was $9.23 billion in 2023. Check out Morgan Stanley's forecast to explore projected trends and price targets.

How has Morgan Stanley revenue changed over the last 9 years?

Over the last 9 years, Morgan Stanley's total revenue changed from $35.16 billion in 2015 to $61.76 billion in 2024, a change of 75.7%.

How much debt does Morgan Stanley have?

Morgan Stanley's total liabilities were at $1.11 trillion at the end of 2024, a 1.5% increase from 2023, and a 56.0% increase since 2015.

How much cash does Morgan Stanley have?

In the past 9 years, Morgan Stanley's cash and equivalents has ranged from $19.83 billion in 2015 to $128.13 billion in 2022, and is currently $105.39 billion as of their latest financial filing in 2024.

How has Morgan Stanley's book value per share changed over the last 9 years?

Over the last 9 years, Morgan Stanley's book value per share changed from 38.83 in 2015 to 58.82 in 2024, a change of 51.5%.


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This page (NYSE:MS) was last updated on 5/21/2025 by MarketBeat.com Staff
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