7Baggers
Quarterly
Annual
    Unit: USD2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-06-30 2023-03-31 2022-12-31 2022-06-30 2022-03-31 2021-12-31 2020-03-31 2019-12-31 2019-09-30 2018-12-31 2014-03-31 2013-03-31 2003-08-31 2003-05-31 2003-02-28 2002-11-30 
                             
      revenues
    		                         
      investment banking
    		2,578,000,000 2,266,000,000 1,644,000,000 1,711,000,000 1,791,000,000 1,590,000,000 1,735,000,000 1,589,000,000  1,155,000,000 1,330,000,000  1,150,000,000 1,758,000,000  1,271,000,000 1,696,000,000 1,635,000,000  1,308,000,000 1,224,000,000 608,000,000 536,000,000 589,000,000  
      trading
    		3,680,000,000 5,020,000,000 4,745,000,000 5,111,000,000 3,778,000,000 4,002,000,000 4,131,000,000 4,852,000,000  3,802,000,000 4,477,000,000  3,597,000,000 3,983,000,000  3,056,000,000 2,314,000,000 2,608,000,000  2,962,000,000 2,694,000,000 2,105,000,000 1,583,000,000 1,556,000,000  
      investments
    		220,000,000 374,000,000 388,000,000 369,000,000 215,000,000 315,000,000 157,000,000 137,000,000  95,000,000 145,000,000  23,000,000 75,000,000  38,000,000 739,000,000 87,000,000  359,000,000 338,000,000 38,000,000 59,000,000 -22,000,000  
      commissions and fees
    		1,557,000,000 1,473,000,000 1,425,000,000 1,481,000,000 1,390,000,000 1,294,000,000 1,183,000,000 1,227,000,000  1,090,000,000 1,239,000,000  1,220,000,000 1,416,000,000  1,360,000,000 984,000,000 990,000,000  1,216,000,000 1,168,000,000     
      asset management
    		6,788,000,000 6,441,000,000 5,953,000,000 5,963,000,000 6,059,000,000 5,747,000,000 5,424,000,000 5,269,000,000  4,817,000,000 4,728,000,000  4,912,000,000 5,119,000,000  3,417,000,000 3,451,000,000 3,363,000,000        
      other
    		212,000,000 159,000,000 290,000,000 751,000,000 438,000,000 239,000,000 322,000,000 266,000,000  488,000,000 252,000,000  -52,000,000 234,000,000  -1,011,000,000 240,000,000 131,000,000  227,000,000 203,000,000 111,000,000 112,000,000 87,000,000  
      total non-interest revenues
    		15,035,000,000 15,733,000,000 14,445,000,000 15,386,000,000 13,671,000,000 13,187,000,000 12,952,000,000 13,340,000,000  11,447,000,000 12,171,000,000  10,850,000,000 12,585,000,000  8,131,000,000 9,424,000,000 8,814,000,000  8,621,000,000 7,973,000,000     
      interest income
    		11,027,250,000 15,456,000,000 14,905,000,000 13,748,000,000      12,048,000,000 10,870,000,000  3,612,000,000 2,650,000,000  3,503,000,000 3,952,000,000 4,350,000,000  1,343,000,000 1,398,000,000     
      interest expense
    		9,229,500,000 12,965,000,000 12,558,000,000 11,395,000,000      10,038,000,000 8,524,000,000  1,330,000,000 434,000,000  2,147,000,000 2,519,000,000 3,132,000,000  1,035,000,000 1,213,000,000 3,368,000,000 3,060,000,000 2,688,000,000  
      net interest
    		2,855,000,000 2,491,000,000 2,347,000,000 2,353,000,000 2,552,000,000 2,196,000,000 2,067,000,000 1,796,000,000  2,010,000,000 2,346,000,000  2,282,000,000 2,216,000,000  1,356,000,000 1,433,000,000 1,218,000,000  308,000,000 185,000,000     
      net revenues
    		17,890,000,000 18,224,000,000 16,792,000,000 17,739,000,000 16,223,000,000 15,383,000,000 15,019,000,000 15,136,000,000  13,457,000,000 14,517,000,000  13,132,000,000 14,801,000,000  9,487,000,000 10,857,000,000 10,032,000,000  8,929,000,000 8,158,000,000 5,251,000,000 5,049,000,000 5,478,000,000  
      provision for credit losses
    		18,000,000  196,000,000 135,000,000 115,000,000 79,000,000 76,000,000 -6,000,000  161,000,000 234,000,000  101,000,000 57,000,000            
      non-interest expenses
    		                         
      compensation and benefits
    		7,063,000,000 7,442,000,000 7,190,000,000 7,521,000,000 6,289,000,000 6,733,000,000 6,460,000,000 6,696,000,000  6,262,000,000 6,410,000,000  5,550,000,000 6,274,000,000  4,283,000,000 5,228,000,000 4,427,000,000  4,305,000,000 4,216,000,000 1,938,000,000 2,272,000,000 2,548,000,000  
      brokerage, clearing and exchange fees
    		1,128,000,000 1,141,000,000 1,188,000,000 1,222,000,000 1,180,000,000 1,044,000,000 995,000,000 921,000,000  875,000,000 881,000,000  878,000,000 882,000,000  740,000,000 633,000,000 637,000,000  443,000,000 428,000,000 212,000,000 202,000,000 191,000,000  
      information processing and communications
    		1,160,000,000 1,119,000,000 1,089,000,000 1,050,000,000 1,059,000,000 1,042,000,000 1,011,000,000 976,000,000  926,000,000 915,000,000  857,000,000 829,000,000  563,000,000 567,000,000 557,000,000  424,000,000 448,000,000 313,000,000 316,000,000 316,000,000  
      professional services
    		769,000,000 685,000,000 711,000,000 674,000,000 798,000,000 711,000,000 753,000,000 639,000,000  767,000,000 710,000,000  757,000,000 705,000,000  449,000,000 555,000,000 531,000,000  452,000,000 440,000,000 283,000,000 259,000,000 225,000,000  
      occupancy and equipment
    		491,000,000 473,000,000 459,000,000 449,000,000 527,000,000 473,000,000 464,000,000 441,000,000  471,000,000 440,000,000  430,000,000 427,000,000  365,000,000 375,000,000 353,000,000  359,000,000 379,000,000 191,000,000 195,000,000 196,000,000  
      marketing and business development
    		358,000,000 280,000,000 297,000,000 238,000,000 279,000,000 224,000,000 245,000,000 217,000,000  236,000,000 247,000,000  220,000,000 175,000,000  132,000,000 200,000,000 157,000,000  147,000,000 134,000,000 199,000,000 257,000,000 269,000,000  
      total non-interest expenses
    		12,112,000,000 12,196,000,000 11,974,000,000 12,060,000,000 11,202,000,000 11,083,000,000 10,869,000,000 10,747,000,000  10,484,000,000 10,523,000,000  9,712,000,000 10,156,000,000  7,341,000,000 8,124,000,000 7,322,000,000  6,622,000,000 6,576,000,000 3,374,000,000 4,134,000,000 4,052,000,000  
      income before provision for income taxes
    		5,760,000,000 6,028,000,000 4,622,000,000 5,544,000,000 4,906,000,000 4,221,000,000 4,074,000,000 4,395,000,000  2,812,000,000 3,760,000,000  3,319,000,000 4,588,000,000  2,146,000,000          
      provision for income taxes
    		1,336,000,000 1,373,000,000 1,047,000,000 1,173,000,000 1,182,000,000 995,000,000 957,000,000 933,000,000  591,000,000 727,000,000  783,000,000 873,000,000  366,000,000    762,000,000  561,000,000 276,000,000 499,000,000  
      net income
    		4,424,000,000 4,655,000,000 3,575,000,000 4,371,000,000 3,724,000,000 3,226,000,000 3,117,000,000 3,462,000,000  2,221,000,000 3,033,000,000  2,536,000,000 3,715,000,000  1,780,000,000 2,305,000,000 2,218,000,000  1,584,000,000 1,231,000,000 1,269,000,000 599,000,000 905,000,000  
      yoy
    		18.80% 44.30% 14.69% 26.26%  45.25% 2.77%   -40.22%   10.02% 67.49%  12.37% 87.25% 74.78%  75.03%      
      qoq
    		-4.96% 30.21% -18.21% 17.37% 15.44% 3.50% -9.97%   -26.77%   -31.74%   -22.78% 3.92%   28.68% -2.99% 111.85% -33.81%   
      net income margin %
    		Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% NaN% Infinity% Infinity% NaN% Infinity% Infinity% NaN% Infinity% Infinity% Infinity% NaN% Infinity% Infinity% 14.21% 7.12% 10.64%  
      net income applicable to noncontrolling interests
    		27,000,000 45,000,000 36,000,000 56,000,000 10,000,000 38,000,000 41,000,000 50,000,000  39,000,000 53,000,000  41,000,000 49,000,000  82,000,000 66,000,000 45,000,000        
      net income applicable to morgan stanley
    		4,397,000,000 4,610,000,000 3,539,000,000 4,315,000,000 3,714,000,000 3,188,000,000 3,076,000,000 3,412,000,000  2,182,000,000 2,980,000,000  2,495,000,000 3,666,000,000  1,698,000,000 2,239,000,000 2,173,000,000  1,505,000,000 962,000,000     
      preferred stock dividends
    		147,000,000 160,000,000 147,000,000 158,000,000 150,000,000 160,000,000 134,000,000 146,000,000  133,000,000 144,000,000  104,000,000 124,000,000  108,000,000 94,000,000 113,000,000  56,000,000      
      earnings applicable to morgan stanley common shareholders
    		4,250,000,000 4,450,000,000 3,392,000,000 4,157,000,000 3,564,000,000 3,028,000,000 2,942,000,000 3,266,000,000  2,049,000,000 2,836,000,000  2,391,000,000 3,542,000,000  1,590,000,000 2,085,000,000 2,060,000,000  1,449,000,000 936,000,000     
      earnings per common share
    		                         
      basic
    		2,710,000 2,830,000 2,150,000 2,620,000 2,250,000 1,910,000 1,850,000 2,040,000  1,250,000 1,720,000  1,400,000 2,040,000  1,020,000 985,000 1,280,000    1,180,000 560,000 840,000  
      diluted
    		2,680,000 2,800,000 2,130,000 2,600,000 2,220,000 1,880,000 1,820,000 2,020,000  1,240,000 1,700,000  1,390,000 2,020,000  1,010,000 972,500 1,270,000    1,150,000 550,000 820,000  
      average common shares outstanding
    		                         
      basic
    		-3,000,000 1,571,000,000 1,577,000,000 1,584,000,000 -3,000,000 1,588,000,000 1,594,000,000 1,601,000,000  1,635,000,000 1,645,000,000  1,704,000,000 1,733,000,000  1,555,000,000 -15,000,000 1,604,000,000  1,924,270,160,000,000 1,901,204,729,000,000 1,077,680,996,000,000 1,077,386,468,000,000 1,079,052,442,000,000  
      diluted
    		-2,000,000 1,590,000,000 1,593,000,000 1,600,000,000 -1,000,000 1,609,000,000 1,611,000,000 1,616,000,000  1,651,000,000 1,663,000,000  1,723,000,000 1,755,000,000  1,573,000,000 -13,000,000 1,627,000,000  1,969,652,798,000,000 1,940,264,085,000,000 1,100,593,303,000,000 1,097,478,351,000,000 1,099,724,140,000,000  
      interest income1
    		    13,491,000,000 14,185,000,000 13,529,000,000 12,930,000,000                  
      interest expense1
    		    10,939,000,000 11,989,000,000 11,462,000,000 11,134,000,000                  
      income from continuing operations before income taxes
    		                2,733,000,000 2,710,000,000  2,307,000,000 1,582,000,000     
      benefit from income taxes
    		                409,000,000 492,000,000   332,000,000     
      income from continuing operations
    		                2,305,000,000 2,218,000,000  1,545,000,000 1,250,000,000     
      income from discontinued operations, net of income taxes
    		                         
      revenues:
    		                         
      asset management, distribution and administration fees
    		                   2,549,000,000 2,346,000,000     
      non-interest expenses:
    		                         
      discontinued operations:
    		                         
      income from discontinued operations before income taxes
    		                   44,000,000      
      income from discontinued operations
    		                   39,000,000      
      net income applicable to redeemable noncontrolling interests
    		                    122,000,000     
      net income applicable to nonredeemable noncontrolling interests
    		                   79,000,000 147,000,000     
      amounts applicable to morgan stanley:
    		                         
      earnings per basic common share:
    		                         
      earnings per basic common share
    		                   750,000 490,000     
      earnings per diluted common share:
    		                         
      earnings per diluted common share
    		                   740,000 480,000     
      dividends declared per common share
    		                   50,000 50,000     
      average common shares outstanding:
    		                         
      basic
    		-3,000,000 1,571,000,000 1,577,000,000 1,584,000,000 -3,000,000 1,588,000,000 1,594,000,000 1,601,000,000  1,635,000,000 1,645,000,000  1,704,000,000 1,733,000,000  1,555,000,000 -15,000,000 1,604,000,000  1,924,270,160,000,000 1,901,204,729,000,000 1,077,680,996,000,000 1,077,386,468,000,000 1,079,052,442,000,000  
      diluted
    		-2,000,000 1,590,000,000 1,593,000,000 1,600,000,000 -1,000,000 1,609,000,000 1,611,000,000 1,616,000,000  1,651,000,000 1,663,000,000  1,723,000,000 1,755,000,000  1,573,000,000 -13,000,000 1,627,000,000  1,969,652,798,000,000 1,940,264,085,000,000 1,100,593,303,000,000 1,097,478,351,000,000 1,099,724,140,000,000  
      gain from discontinued operations
    		                    -30,000,000     
      net gain from discontinued operations
    		                    -19,000,000     
      principal transactions:
    		                         
      commissions
    		                     775,000,000 709,000,000 670,000,000  
      fees:
    		                         
      asset management, distribution and administration
    		                     956,000,000 885,000,000 903,000,000  
      merchant and cardmember
    		                     340,000,000 339,000,000 363,000,000  
      servicing
    		                     462,000,000 503,000,000 567,000,000  
      interest and dividends
    		                     3,534,000,000 3,692,000,000 3,789,000,000  
      total revenues
    		                     8,929,000,000 8,418,000,000 8,502,000,000  
      yoy
    		                         
      qoq
    		                     6.07% -0.99%   
      provision for consumer loan losses
    		                     310,000,000 309,000,000 336,000,000  
      income before income taxes and dividends on preferred securities subject to mandatory redemption
    		                     1,877,000,000 915,000,000 1,426,000,000  
      dividends on preferred securities subject to mandatory redemption
    		                     47,000,000 40,000,000 22,000,000  
      earnings per common share:
    		                         
      basic
    		2,710,000 2,830,000 2,150,000 2,620,000 2,250,000 1,910,000 1,850,000 2,040,000  1,250,000 1,720,000  1,400,000 2,040,000  1,020,000 985,000 1,280,000    1,180,000 560,000 840,000  
      diluted
    		2,680,000 2,800,000 2,130,000 2,600,000 2,220,000 1,880,000 1,820,000 2,020,000  1,240,000 1,700,000  1,390,000 2,020,000  1,010,000 972,500 1,270,000    1,150,000 550,000 820,000  
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.