MS
Morgan Stanley
NYSE: MS · FINANCIAL SERVICES · CAPITAL MARKETS
$190.59
+2.41% today
Updated 2026-04-29
Market cap
$298.63B
P/E ratio
17.04
P/S ratio
4.08x
EPS (TTM)
$11.04
Dividend yield
2.12%
52W range
$110 – $195
Volume
6.8M
Morgan Stanley (MS) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $69.39B | $82.27B | $53.92B | $28.29B | $35.77B | $37.48B | $30.54B | $35.21B | $36.15B | $36.01B | $36.03B | $41.55B | $47.80B | $51.45B | $49.68B | $57.78B | $62.48B | $88.29B | $103.14B | $114.98B |
| Revenue growth (YoY) | — | +18.6% | -34.5% | -47.5% | +26.5% | +4.8% | -18.5% | +15.3% | +2.7% | -0.4% | +0.1% | +15.3% | +15.0% | +7.6% | -3.4% | +16.3% | +8.1% | +41.3% | +16.8% | +11.5% |
| Cost of revenue | $41.65B | $57.28B | $36.26B | $6.69B | $6.41B | $6.88B | $5.90B | $4.43B | $3.68B | $2.74B | $3.32B | $5.70B | $10.09B | $12.56B | $4.61B | $1.37B | $12.55B | $38.15B | $45.79B | $49.37B |
| Gross profit | $27.74B | $24.98B | $17.66B | $21.60B | $29.36B | $30.59B | $24.64B | $30.78B | $32.47B | $33.26B | $32.71B | $35.85B | $37.71B | $38.88B | $45.07B | $56.41B | $49.93B | $50.13B | $57.36B | $65.62B |
| Gross margin | 40.0% | 30.4% | 32.8% | 76.4% | 82.1% | 81.6% | 80.7% | 87.4% | 89.8% | 92.4% | 90.8% | 86.3% | 78.9% | 75.6% | 90.7% | 97.6% | 79.9% | 56.8% | 55.6% | 57.1% |
| R&D | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — | — | — |
| SG&A | $13.99B | $16.12B | $11.85B | $14.33B | $15.87B | $16.32B | $15.62B | $16.28B | $17.82B | $16.02B | $15.88B | $17.17B | $17.63B | $18.66B | $20.70B | $24.63B | $23.05B | $24.20B | $26.18B | $29.07B |
| Operating income | $9.06B | $2.78B | $1.25B | $1.13B | $6.20B | $6.11B | $596.00M | $4.56B | $3.59B | $8.49B | $8.85B | $10.40B | $11.24B | $11.30B | $14.42B | $19.67B | $14.09B | $11.81B | $17.60B | $21.95B |
| Operating margin | 13.1% | 3.4% | 2.3% | 4.0% | 17.3% | 16.3% | 2.0% | 12.9% | 9.9% | 23.6% | 24.6% | 25.0% | 23.5% | 22.0% | 29.0% | 34.0% | 22.6% | 13.4% | 17.1% | 19.1% |
| EBITDA | $9.94B | $3.25B | $2.05B | $2.35B | $7.62B | $7.51B | $2.18B | $6.07B | $4.75B | $9.93B | $10.58B | $12.16B | $13.08B | $13.94B | $18.19B | $23.88B | $18.09B | $16.07B | $22.76B | $26.61B |
| EBITDA margin | 14.3% | 4.0% | 3.8% | 8.3% | 21.3% | 20.0% | 7.1% | 17.2% | 13.1% | 27.6% | 29.4% | 29.3% | 27.4% | 27.1% | 36.6% | 41.3% | 28.9% | 18.2% | 22.1% | 23.1% |
| EBIT | $9.06B | $2.78B | $1.25B | $1.13B | $6.20B | $6.11B | $596.00M | $4.56B | $3.59B | $8.49B | $8.85B | $10.40B | $11.24B | $11.30B | $14.42B | $19.67B | $14.09B | $11.81B | $17.60B | $21.95B |
| Interest expense | $40.90B | $57.28B | $36.26B | $6.69B | $6.41B | $6.88B | $5.90B | $4.43B | $3.68B | $2.74B | $3.32B | $5.70B | $10.09B | $12.40B | $3.85B | $1.37B | $12.27B | $37.62B | $45.52B | $49.02B |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $7.47B | $3.21B | $1.71B | $1.35B | $4.70B | $4.08B | $66.00M | $2.93B | $3.47B | $6.13B | $5.98B | $6.11B | $8.75B | $9.04B | $11.00B | $15.03B | $11.03B | $9.09B | $13.39B | $16.86B |
| Net income growth (YoY) | — | -57.1% | -46.8% | -21.1% | +249.4% | -13.1% | -98.4% | +4342.4% | +18.2% | +76.7% | -2.4% | +2.2% | +43.2% | +3.4% | +21.6% | +36.7% | -26.6% | -17.6% | +47.4% | +25.9% |
| Profit margin | 10.8% | 3.9% | 3.2% | 4.8% | 13.1% | 10.9% | 0.2% | 8.3% | 9.6% | 17.0% | 16.6% | 14.7% | 18.3% | 17.6% | 22.1% | 26.0% | 17.7% | 10.3% | 13.0% | 14.7% |