Morgan Stanley
Financial Performance
Morgan Stanley Revenue & Financials
Revenue
$70.6B (FY2025)
Market Cap
$330.9B
Net Income
$16.9B
Employees
83,000
What is Morgan Stanley's revenue?
Morgan Stanley had $70.6B in revenue for fiscal year 2025, up 14.4% from 2024. Net income was $16.9B.
- Latest revenue
- $70.6B (FY2025)
- Year-over-year
- +14.4%
- Growth rate (CAGR)
- 8.2% over 9 years
- Peak revenue
- $70.6B (FY2025)
- Years of data
- 10
- Employees
- 83,000
- How much profit does Morgan Stanley make?
- Morgan Stanley reported net income of $16.9B for fiscal year 2025. sec.gov
- How many employees does Morgan Stanley have?
- Morgan Stanley has about 83,000 employees.
Financial Analysis
Net revenues rose from $34.6B in 2016 to $70.6B in 2025, with net income reaching $16.9B in 2025. Under James Gorman (CEO 2010-2023) the firm added Smith Barney, E*TRADE, and Eaton Vance to build recurring fee revenue. Under Ted Pick, results accelerated: Q2 2026 net revenue of $21.35B was up 27% year over year, net income of $5.58B was up 58%, and first-half 2026 revenue was about $42B with ROTCE near 27%. Morgan Stanley is a premier global financial services firm, commanding a market valuation typically exceeding $130 billion.
Revenue Trend Analysis
YoY Change
+14.4%
9-Year CAGR
+8.2%
Peak Year
2025
Trend
Consistent Growth
Morgan Stanley has 10 full fiscal year figures on this page, compounding at +8.2% annually over 9 years. The most recent year saw a 14.4% increase versus the prior year. Annual revenue peaked in fiscal year 2025 at $70.6B. Of 9 comparable year-over-year steps, 8 showed growth and 1 showed a decline.
Annual revenue history
Click any row to see year details.
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Morgan Stanley Revenue and Financial FAQ
What is Morgan Stanley's typical annual net revenue and financial scale?
Morgan Stanley reported revenue of $70.6 billion for fiscal year 2025, up from $61.8 billion in fiscal 2024.
What is Morgan Stanley's target Return on Tangible Common Equity (ROTCE)?
Morgan Stanley targets a long-term Return on Tangible Common Equity (ROTCE) of 20% or higher, reflecting the capital efficiency and profitability of its balanced wealth management and advisory model.
What is Morgan Stanley's total asset base on its consolidated balance sheet?
Morgan Stanley maintains a consolidated balance sheet with total assets exceeding $1.1 trillion, supported by strong regulatory capital and comprehensive liquidity reserves.
How much capital does Morgan Stanley return to shareholders through dividends and share buybacks?
Morgan Stanley routinely returns billions of dollars annually to shareholders through quarterly dividend payouts and multi-billion-dollar common stock share repurchase authorizations approved under Federal Reserve stress tests.
What is Morgan Stanley's Common Equity Tier 1 (CET1) capital ratio?
Morgan Stanley maintains a Common Equity Tier 1 (CET1) standardized capital ratio well above 15%, significantly exceeding regulatory minimum requirements established by the Federal Reserve and Basel III.
How did the Eaton Vance acquisition impact Morgan Stanley's asset management revenues?
The acquisition of Eaton Vance in 2021 added over $500 billion in AUM and expanded specialized franchises like Parametric and Calvert, significantly boosting recurring investment management fees and client inflows.
What is the pre-tax profit margin achieved by Morgan Stanley's Wealth Management division?
Morgan Stanley's Wealth Management division consistently achieves pre-tax profit margins between 25% and 30%, serving as the primary profit engine and stabilizer for the entire firm.
What credit ratings does Morgan Stanley hold from major rating agencies?
Morgan Stanley holds investment-grade credit ratings (typically A1/A+ from Moody's, S&P, and Fitch), enabling competitive institutional borrowing costs and prime brokerage counterparty trust.
Why does Wall Street assign Morgan Stanley a higher valuation multiple than pure-play investment banks?
Wall Street values Morgan Stanley at a premium price-to-tangible-book multiple compared to traditional investment banks because over 50% of its revenue originates from recurring, asset-based wealth management fees. Unlike volatile trading and advisory fees that dry up during market recessions, wealth advisory fees provide highly predictable, high-margin cash flow.
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Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Morgan Stanley Revenue & Financials." CorpDigest, https://corpdigest.com/company/morgan-stanley/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Morgan Stanley reported $70.6B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/morgan-stanley/financials" target="_blank" rel="noopener">CorpDigest — Morgan Stanley financials</a></div>Related Financial Audits
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