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Morgan Stanley

MS Clue Score48
United States Fiscal year ends December CIK 0000895421
$190.02 +1.38% Close, 9 Oct 2026
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Price $190.02 +95.31% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
Net income
Fiscal year 2016Net income5.98EPS, diluted2.92Fiscal year 2017Net income6.11 +2.2%EPS, diluted3.07 +5.1%Fiscal year 2018Net income8.75 +43.2%EPS, diluted4.73 +54.1%Fiscal year 2019Net income9.04 +3.4%EPS, diluted5.19 +9.7%Fiscal year 2020Net income11.00 +21.6%EPS, diluted6.46 +24.5%Fiscal year 2021Net income15.03 +36.7%EPS, diluted8.03 +24.3%Fiscal year 2022Net income11.03 −26.6%EPS, diluted6.15 −23.4%Fiscal year 2023Net income9.09 −17.6%EPS, diluted5.18 −15.8%Fiscal year 2024Net income13.39 +47.4%EPS, diluted7.95 +53.5%Fiscal year 2025Net income16.86 +25.9%EPS, diluted10.21 +28.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income 5.98 6.11 8.75 9.04 11.00 15.03 11.03 9.09 13.39 16.86
Growth +2.2% +43.2% +3.4% +21.6% +36.7% −26.6% −17.6% +47.4% +25.9%
EPS, diluted 2.92 3.07 4.73 5.19 6.46 8.03 6.15 5.18 7.95 10.21
Growth +5.1% +54.1% +9.7% +24.5% +24.3% −23.4% −15.8% +53.5% +28.4%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow5.38Dividends paid−1.75Fiscal year 2017Operating cash flow−4.51Dividends paid−2.09Fiscal year 2018Operating cash flow7.31Dividends paid−2.38Fiscal year 2019Operating cash flow40.77Dividends paid−2.63Fiscal year 2020Operating cash flow−25.23Dividends paid−2.74Fiscal year 2021Operating cash flow33.97Dividends paid−4.17Fiscal year 2022Operating cash flow−6.40Dividends paid−5.40Fiscal year 2023Operating cash flow−33.54Dividends paid−5.76Fiscal year 2024Operating cash flow1.36Dividends paid−6.14Fiscal year 2025Operating cash flow−17.89Dividends paid−6.59
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 5.38 −4.51 7.31 40.77 −25.23 33.97 −6.40 −33.54 1.36 −17.89
Dividends paid −1.75 −2.09 −2.38 −2.63 −2.74 −4.17 −5.40 −5.76 −6.14 −6.59

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash77.36Total debt190.90Net cash (debt)−113.54Shareholders’ equity76.05Debt to equity2.51Fiscal year 2017Cash80.40Total debt214.93Net cash (debt)−134.54Shareholders’ equity77.39Debt to equity2.78Fiscal year 2018Cash87.20Total debt212.81Net cash (debt)−125.62Shareholders’ equity80.25Debt to equity2.65Fiscal year 2019Cash82.17Total debt210.46Net cash (debt)−128.29Shareholders’ equity81.55Debt to equity2.58Fiscal year 2020Cash105.65Total debt237.63Net cash (debt)−131.98Shareholders’ equity101.78Debt to equity2.33Fiscal year 2021Cash127.73Total debt227.36Net cash (debt)−99.64Shareholders’ equity105.44Debt to equity2.16Fiscal year 2022Cash128.13Total debt233.87Net cash (debt)−105.74Shareholders’ equity100.14Debt to equity2.34Fiscal year 2023Cash89.23Total debt260.54Net cash (debt)−171.31Shareholders’ equity99.04Debt to equity2.63Fiscal year 2024Cash105.39Total debt284.31Net cash (debt)−178.92Shareholders’ equity104.51Debt to equity2.72Fiscal year 2025Cash111.70Total debt341.68Net cash (debt)−229.99Shareholders’ equity111.63Debt to equity3.06
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 77.36 80.40 87.20 82.17 105.65 127.73 128.13 89.23 105.39 111.70
Total debt 190.90 214.93 212.81 210.46 237.63 227.36 233.87 260.54 284.31 341.68
Net cash (debt) −113.54 −134.54 −125.62 −128.29 −131.98 −99.64 −105.74 −171.31 −178.92 −229.99
Shareholders’ equity 76.05 77.39 80.25 81.55 101.78 105.44 100.14 99.04 104.51 111.63
Debt to equity 2.51 2.78 2.65 2.58 2.33 2.16 2.34 2.63 2.72 3.06

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
77.36 80.40 87.20 82.17 105.65 127.73 128.13 89.23 105.39 111.70
6.58 6.60 6.69 7.14 11.64 16.83 16.65 16.71 16.71 16.73
814.95 851.73 853.53 895.43 1,115.86 1,188.14 1,180.23 1,193.69 1,215.07 1,420.27
Growth +4.5% +0.2% +4.9% +24.6% +6.5% −0.7% +1.1% +1.8% +16.9%
Liabilities
26.13 23.87 24.69 20.40 24.24 n/a n/a n/a n/a n/a
164.78 191.06 188.12 190.06 213.39 227.36 233.87 260.54 284.31 341.68
calc 190.90 214.93 212.81 210.46 237.63 227.36 233.87 260.54 284.31 341.68
737.77 773.27 772.13 812.73 1,012.71 1,081.54 1,079.00 1,093.71 1,109.64 1,307.62
Equity
53.68 57.58 64.18 70.59 78.69 89.43 94.86 98.00 104.99 115.09
76.05 77.39 80.25 81.55 101.78 105.44 100.14 99.04 104.51 111.63
Growth +1.8% +3.7% +1.6% +24.8% +3.6% −5.0% −1.1% +5.5% +6.8%
Per share and net cash
calc −113.54 −134.54 −125.62 −128.29 −131.98 −99.64 −105.74 −171.31 −178.92 −229.99
1,852 1,788 1,700 1,594 1,810 1,772 1,675 1,627 1,607 1,583
calc 41.06 43.28 47.20 51.16 56.23 59.50 59.79 60.87 65.05 70.53

Lines marked calc are worked out here from filed figures; point at one for how.