MS
Morgan Stanley
NYSE · USFinancial ServicesFinancial - Capital Markets
$210.97-2.10%
Price as of Jul 20, 2026
MS financials
Morgan Stanley financial statements
Annual and quarterly income statement, balance sheet and cash-flow history. On small screens, start with four periods and expand the table when needed.
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $115.0B | $103.1B | $88.3B | $62.5B |
| Cost of revenue | $49.4B | $45.8B | $38.2B | $12.5B |
| Gross profit | $65.6B | $57.4B | $50.1B | $49.9B |
| Operating expenses | $43.7B | $39.8B | $38.3B | $35.8B |
| Operating income | $22.0B | $17.6B | $11.8B | $14.1B |
| Net income | $16.9B | $13.4B | $9.1B | $11.0B |
| EBITDA | $26.6B | $22.8B | $16.1B | $18.1B |
| Basic EPS | $10.34 | $8.04 | $5.24 | $6.23 |
| Diluted EPS | $10.20 | $7.95 | $5.18 | $6.15 |
| Balance sheet | ||||
| Cash & equivalents | $111.7B | $75.7B | $58.7B | $92.7B |
| Total assets | $1.42T | $1.22T | $1.19T | $1.18T |
| Total liabilities | $1.31T | $1.11T | $1.09T | $1.08T |
| Stockholders’ equity | $111.6B | $104.5B | $99.0B | $100.1B |
| Total debt | $475.6B | $360.5B | $339.0B | $308.8B |
| Net debt | $363.9B | $284.7B | $280.4B | $216.0B |
| Cash flow | ||||
| Operating cash flow | $49.0B | $1.4B | -$33.5B | -$6.4B |
| Capital expenditure | -$2.9B | -$3.5B | -$3.4B | -$3.1B |
| Free cash flow | $46.1B | -$2.1B | -$36.9B | -$9.5B |
| Dividends paid | -$6.6B | -$6.1B | -$5.8B | -$5.4B |
| Share repurchases | -$5.8B | -$4.2B | -$6.2B | -$10.9B |