What was Morgan Stanley's revenue in 2025?

Morgan Stanley reported $70.6B in revenue for fiscal year 2025. This represents a +14.4% change compared to 2024. Net revenue rose about 14.4 percent to approximately $70.6 billion in fiscal 2025, Morgan Stanley's strongest full-year result with net income of $16.9 billion.

What was Morgan Stanley's net income in 2025?

Morgan Stanley reported $16.9B in net income for fiscal year 2025.

How did Morgan Stanley's revenue change from 2024 to 2025?

Morgan Stanley revenue grew from $61.8B in 2024 to $70.6B in 2025, a change of 14.4%.

Was 2025 Morgan Stanley's best revenue year?

Yes — 2025 was Morgan Stanley's highest recorded revenue year at $70.6B, the peak across all 9 years of available data.

What was Morgan Stanley's highest ever annual revenue?

Morgan Stanley's highest ever annual revenue was $70.6B recorded in fiscal year 2025.

Morgan Stanley Revenue in 2025: $70.6B

FY2025 Revenue

$70.6B

▲ 14.4% vs FY2024 ($61.8B)

Net Income: $16.9B

Source: Annual report / company filing

Morgan Stanley reported $70.6B in revenue for fiscal year 2025. This represents a growth of 14.4% compared to the 2024 figure of $61.8B.

Net revenue rose about 14.4 percent to approximately $70.6 billion in fiscal 2025, Morgan Stanley's strongest full-year result with net income of $16.9 billion.

Revenue by Year

FY2025 FY2024 FY2023 FY2022 FY2021 FY2020 FY2019 FY2018 FY2017

Morgan Stanley Annual Revenue History

Year	Revenue	Net Income	YoY Change
FY2025	$70.6B	$16.9B	+14.4%
FY2024	$61.8B	—	+14.1%
FY2023	$54.1B	—	+0.9%
FY2022	$53.7B	—	-10.2%
FY2021	$59.8B	—	+22.6%
FY2020	$48.8B	—	+17.4%
FY2019	$41.5B	—	+3.6%
FY2018	$40.1B	—	+5.7%
FY2017	$37.9B	—	—

Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.