Morgan StanleyMSRevenue: is the business selling more than it used to?
$70.6B+14% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $70.6B in 2025, compounding +10% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $78.0B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSNet income: how much of that revenue becomes profit?
$16.9B+26% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $16.9B in 2025, compounding +15% a year over three years. Earnings per share moved +37% over the last twelve months. Trailing twelve-month profit stands at $20.2B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSHow fast is it growing, year by year?
+14.4%revenue growth, FY 2025
Off the axis: 2013 earnings +4211.8% - rebounds off a collapsed prior year.
→Revenue grew +14% in 2025 against a five-year average of +8%. Earnings grew faster (+26%), so each new dollar of sales is arriving more profitably. 2013's +4212% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSRevenue per share: is your slice growing as fast as the company?
$44.38revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $44.38 in 2025, compounding +12% a year against +10% for MS as a whole. Buybacks added roughly 2.7 points to your per-share result. Free cash flow per share stands at $-11.24.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSFree cash flow: what is left in real cash after everything?
$-17.9BFY 2025
→The business consumed $17.9B of cash in 2025 after investment. Growth is being funded from the balance sheet, not from operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSHow much of every sales dollar ends up as free cash?
→Free cash flow is negative, so no share of revenue is currently converting to spare cash. Every sales dollar is being reinvested or consumed.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is stock compensation, at 3% of revenue. That share has fallen since 2022, so the cost of competing is easing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Net margin stands at 24% in 2025. MS doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→MS earns 17% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSWhat has the market paid for MS over time?
17.2xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 17.2x earnings, the market is paying +85% more than MS's own 11-year median of 9.3x. Expectations are elevated, so more has to go right to justify the price. Today's multiple is the highest in the charted history.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSWhat cash return does the business throw off per dollar of market value?
→The business yielded -8.1% of free cash against its market value in 2025.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSCould it handle its debt if things went wrong?
→Debt of $383.2B sits against $160.1B of cash, or 3.3x shareholders' equity.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSIs the company's own capital growing?
→The company's own capital grew from $99.0B in 2023 to $116.3B (+17%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSHow much goes back, and how much leaks out as stock comp?
→Shareholders received $691M in buybacks and $6.6B in dividends in 2013. Stock compensation issued $1.9B of new shares in the same year, offsetting 26% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSHow fast is your ownership being diluted - or concentrated?
→The share count shrank 1.2% in 2025, averaging 2.4% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSIs the dividend cheque growing?
→The dividend per share reached $4.14 in 2025, compounding +20% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The dividend consumed 39% of profit and 451% of free cash flow in 2025. That is a thin cushion: a bad year would put the payment under real pressure.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSMS has issued or retired shares - did shareholders end up better off?
→MS has shrunk its share count -5% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +131% over the same years.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Morgan StanleyMSAre the people running it buying or selling?
→Insiders sold $46M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 43 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30