15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | — | $16.9B | — | — | — | $348.9B | $111.7B |
| 2024 | — | $13.4B | — | — | — | $288.8B | $105.4B |
| 2023 | — | $9.1B | — | — | — | $263.7B | $89.2B |
| 2022 | — | $11.0B | — | — | — | $238.1B | $128.1B |
| 2021 | — | $15.0B | — | — | — | $233.1B | $127.7B |
| 2020 | — | $11.0B | — | — | — | $217.1B | $105.7B |
| 2019 | — | $9.0B | — | — | — | $192.6B | $82.2B |
| 2018 | — | $8.7B | — | — | — | $189.7B | $87.2B |
| 2017 | — | $6.1B | — | — | — | $192.6B | $80.4B |
| 2016 | — | $6.0B | — | — | — | $165.7B | $77.4B |
| 2015 | — | $6.1B | — | — | — | $155.9B | $85.6B |
| 2014 | $34.3B | $3.5B | 0.0% | 0.0% | — | $155.0B | $87.6B |
| 2013 | $32.5B | $2.9B | 0.0% | 0.0% | — | $155.7B | $59.9B |
| 2012 | $26.2B | $68M | 0.0% | 0.0% | — | $171.7B | $46.9B |
| 2011 | $32.2B | $4.1B | 0.0% | 0.0% | — | $187.1B | $47.3B |
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | — | $5.6B | — | — | — | $371.6B | $133.5B |
| Dec '25 | — | $4.4B | — | — | — | $348.9B | $111.7B |
| Sep '25 | — | $4.6B | — | — | — | $331.7B | $103.7B |
| Jun '25 | — | $3.5B | — | — | — | $328.8B | $109.1B |
| Mar '25 | — | $4.3B | — | — | — | $305.4B | $90.7B |
| Dec '24 | — | $3.7B | — | — | — | $288.8B | $105.4B |
| Sep '24 | — | $3.2B | — | — | — | $298.2B | $91.1B |
| Jun '24 | — | $3.1B | — | — | — | $275.2B | $90.2B |
| Mar '24 | — | $3.4B | — | — | — | $271.4B | $102.3B |
| Dec '23 | — | $1.5B | — | — | — | $263.7B | $89.2B |
| Sep '23 | — | $2.4B | — | — | — | $247.2B | $108.4B |
| Jun '23 | — | $2.2B | — | — | — | $248.0B | $105.0B |
| Mar '23 | — | $3.0B | — | — | — | $250.2B | $111.3B |
| Dec '22 | — | $2.2B | — | — | — | $238.1B | $128.1B |
| Sep '22 | — | $2.6B | — | — | — | $220.4B | $111.7B |
| Jun '22 | — | $2.5B | — | — | — | $226.2B | $131.3B |
| Mar '22 | — | $3.7B | — | — | — | $229.8B | $136.1B |
| Dec '21 | — | $3.7B | — | — | — | $233.1B | $127.7B |
| Sep '21 | — | $3.7B | — | — | — | $229.8B | $123.9B |
| Jun '21 | — | $3.5B | — | — | — | $224.1B | $126.5B |
How the market has priced MS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
Over the past 5 years, Morgan Stanley's revenue has grown 2.1% per year, and net income grown 8.9% per year. These are computed facts, not advice.
As of FY2025, Morgan Stanley reported $348.9B of total debt against $111.7B of cash.
In FY2025, gross margin was —, operating margin —, and net margin —.
As of Jun '26, Morgan Stanley traded at a price-to-earnings ratio of about 20.7× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.