MS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$191.98

Market Cap

$281.00B

P/E (TTM)

17.4

EPS (TTM)

$10.21

Revenue (TTM)

—

Div Yield

2.4%

ROE

15.6%

Debt/Equity

—

52W Range

$124 – $198

MS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income —

EPS $10.21

2016-12-31 → 2025-12-31

Free Cash Flow —

Margins 23.9%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

MS

Peer Median

P/E (TTM)

17.4

19.2

P/B

2.5

2.4

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

MS

Peer Median

Net Profit Margin

23.9%

7.7%

ROA

1.3%

4.0%

ROE

15.6%

16.2%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

MS

Peer Median

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

MS

Peer Median

Revenue YoY

14.4%

—

Revenue CAGR 3Y

9.6%

—

Revenue CAGR 5Y

7.7%

—

EPS YoY

28.4%

—

Net Income YoY

25.9%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

MS

Peer Median

EPS (Diluted)

$10.21

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

MS

Peer Median

Payout Ratio

39.1%

—

Dividends Yield, payout ratio, dividend history, 5Y CAGR

Dividend Yield

2.4%

Payout Ratio

39.1%

5Y Div CAGR

—

Ex-date	Amount
April 30, 2026	$1.0000
Jan. 30, 2026	$1.0000
Oct. 31, 2025	$1.0000
July 31, 2025	$1.0000
April 30, 2025	$0.9250
Jan. 31, 2025	$0.9250
Oct. 31, 2024	$0.9250
July 31, 2024	$0.9250
April 29, 2024	$0.8500
Jan. 30, 2024	$0.8500
Oct. 30, 2023	$0.8500
July 28, 2023	$0.8500
April 28, 2023	$0.7750
Jan. 30, 2023	$0.7750
Oct. 28, 2022	$0.7750
July 28, 2022	$0.7750
April 28, 2022	$0.7000
Jan. 28, 2022	$0.7000
Oct. 28, 2021	$0.7000
July 29, 2021	$0.7000

MS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 33 analysts

Strong Buy 8 24.2%
Buy 10 30.3%
Hold 15 45.5%
Sell 0 0.0%
Strong Sell 0 0.0%

12-Month Price Target

21 analysts · 2026-05-15

Median $205.00

Now $191.98

Low $165.00

High $230.00

Median target $205.00 +6.8%

Mean target $203.29 +5.9%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

0.32%

Period	EPS Actual	EPS Est	Surprise
March 31, 2026	$3.43	$3.09	0.34%
Dec. 31, 2025	$2.68	$2.51	0.17%
Sept. 30, 2025	$2.80	$2.17	0.63%
June 30, 2025	$2.13	$2.01	0.12%
March 31, 2025	$2.60	$2.27	0.33%

Peer Comparison Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
MS	$281.00B	17.4	14.4%	23.9%	15.6%	—
GS	$260.60B	17.1	8.9%	29.5%	13.9%	—
SCHW	$207.21B	21.5	22.0%	37.0%	17.9%	—
IBKR	—	29.0	23.4%	—	—	—
HOOD	$101.94B	55.2	51.6%	42.1%	21.9%	—
RJF	$34.20B	16.8	6.6%	13.4%	17.7%	—
LPLA	—	32.7	37.2%	5.1%	16.6%	—
EVR	—	24.2	29.5%	15.3%	31.7%	—
SF	—	14.2	6.7%	10.8%	11.7%	—
JEF	—	20.3	2.9%	6.3%	6.6%	—
HLI	—	27.7	24.8%	16.7%	18.8%	32.3%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 10

Annual Income Statement data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue	·	·	·	·	·	·	·	·	·	·	·	$34.27B
Interest Expense	·	·	$42.05B	$12.27B	$1.37B	$3.85B	$12.40B	$10.09B	$5.70B	$3.32B	$2.74B	$3.68B
Interest Income	$59.06B	$54.13B	$45.85B	$21.59B	$9.41B	$10.16B	$17.10B	$13.89B	$9.00B	$7.02B	$5.83B	$5.41B
Pretax Income	$21.95B	$17.60B	$11.81B	$14.09B	$19.67B	$14.42B	$11.30B	$11.24B	$10.40B	$8.85B	$8.49B	$3.59B
Income Tax	$4.93B	$4.07B	$2.58B	$2.91B	$4.55B	$3.24B	$2.06B	$2.35B	$4.17B	$2.73B	$2.20B	$-90M
Net Income	$16.86B	$13.39B	$9.09B	$11.03B	$15.03B	$11.00B	$9.04B	$8.75B	$6.11B	$5.98B	$6.13B	$3.47B
EPS (Basic)	$10.32	$8.04	$5.24	$6.23	$8.16	$6.55	$5.26	$4.81	$3.14	$2.98	$2.97	$1.64
EPS (Diluted)	$10.21	$7.95	$5.18	$6.15	$8.03	$6.46	$5.19	$4.73	$3.07	$2.92	$2.90	$1.60
Shares (Basic)	1,574,000,000	1,591,000,000	1,628,000,000	1,691,000,000	1,785,000,000	1,603,000,000	1,617,000,000	1,708,000,000	1,780,000,000	1,849,000,000	1,909,000,000	1,924,000,000
Shares (Diluted)	1,592,000,000	1,611,000,000	1,646,000,000	1,713,000,000	1,814,000,000	1,624,000,000	1,640,000,000	1,738,000,000	1,821,000,000	1,887,000,000	1,953,000,000	1,971,000,000

Balance Sheet 18

Annual Balance Sheet data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Equivalents	$111.69B	$105.39B	$89.23B	$128.13B	$127.72B	$105.65B	$82.17B	$87.20B	$80.39B	$77.36B	$85.55B	$87.59B
PP&E (Net)	·	·	·	·	·	·	·	·	·	·	$6.37B	$6.11B
Accum. Depreciation	·	·	·	·	·	·	·	·	·	·	$7.14B	$6.22B
Goodwill	$16.73B	$16.71B	$16.71B	$16.65B	$16.83B	$11.63B	$7.14B	$6.69B	$6.60B	$6.58B	$6.58B	$6.59B
Intangibles	$6.01B	$6.45B	$7.05B	$7.62B	$8.36B	$4.98B	$2.11B	$2.16B	$2.45B	$2.72B	$2.98B	$3.16B
Total Assets	$1.42T	$1.22T	$1.19T	$1.18T	$1.19T	$1.12T	$895.43B	$853.53B	$851.73B	$814.95B	$787.47B	$801.51B
Short-term Debt	·	·	·	·	·	·	·	·	$1.52B	$941M	$2.17B	$2.26B
Total Liabilities	$1.31T	$1.11T	$1.09T	$1.08T	$1.08T	$1.01T	$812.73B	$772.12B	$773.27B	$737.77B	$711.28B	$729.41B
Long-term Debt	$341.68B	$284.31B	$260.54B	$233.87B	$227.36B	$213.39B	$190.06B	$188.12B	$191.06B	$164.78B	$153.77B	$152.77B
Total Debt	·	·	·	·	·	$0	$0	$0	$0	$941M	$2.17B	$2.26B
Common Stock	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M
Paid-in Capital	$31.15B	$30.18B	$29.83B	$29.34B	$28.84B	$25.55B	$23.93B	$23.79B	$23.55B	$23.27B	$24.15B	$24.25B
Retained Earnings	$115.09B	$104.99B	$98.00B	$94.86B	$89.43B	$78.69B	$70.59B	$64.17B	$57.58B	$53.68B	$49.20B	$44.62B
Treasury Stock	$38.10B	$33.61B	$31.14B	$26.58B	$17.50B	$9.77B	$18.73B	$13.97B	$9.21B	$5.80B	$4.06B	$2.77B
AOCI	$-6.29B	$-6.81B	$-6.42B	$-6.25B	$-3.10B	$-1.96B	$-2.79B	$-2.29B	$-3.06B	$-2.64B	$-1.66B	$-1.25B
Stockholders' Equity	$111.63B	$104.51B	$99.04B	$100.14B	$105.44B	$101.78B	$81.55B	$80.25B	$77.39B	$76.05B	$75.18B	$70.90B
Liabilities + Equity	$1.42T	$1.22T	$1.19T	$1.18T	$1.19T	$1.12T	$895.43B	$853.53B	$851.73B	$814.95B	$787.47B	$801.51B
Shares Outstanding	1,582,834,137	1,606,653,706	1,627,000,000	1,675,000,000	1,772,000,000	1,810,000,000	1,594,000,000	1,700,000,000	1,788,000,000	1,852,000,000	1,920,000,000	1,951,000,000

Cash Flow 12

Annual Cash Flow data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
D&A	$4.66B	$5.16B	$4.26B	$4.00B	$4.22B	$3.77B	$2.64B	$1.84B	$1.75B	$1.74B	$1.43B	$1.16B
Stock-based Comp	$1.93B	$1.62B	$1.71B	$1.88B	$2.08B	$1.31B	$1.15B	$920M	$1.03B	$1.14B	$1.10B	$1.26B
Deferred Tax	$561M	$152M	$-463M	$-849M	$4M	$-250M	$165M	$449M	$2.75B	$1.58B	$1.19B	$-240M
Amort. of Intangibles	$454M	$602M	$601M	$610M	$612M	$373M	$314M	$344M	$309M	$291M	$306M	$297M
Operating Cash Flow	$-17.89B	$1.36B	$-33.54B	$-6.40B	$33.97B	$-25.23B	$40.77B	$7.30B	$-4.50B	$5.38B	$-4.46B	$1.09B
Investing Cash Flow	$-46.78B	$-29.46B	$-3.08B	$-11.63B	$-49.90B	$-37.90B	$-33.56B	$-22.88B	$-12.39B	$-19.51B	$-20.00B	·
Debt Issued	·	·	·	·	·	·	·	·	·	$43.63B	$34.18B	$36.74B
Net Debt Issued	·	·	·	·	·	·	·	·	·	$13.24B	$6.89B	$3.64B
Dividends Paid	$6.59B	$6.14B	$5.76B	$5.40B	$4.17B	$2.74B	$2.63B	$2.38B	$2.08B	$1.75B	$1.46B	$904M
Financing Cash Flow	$67.76B	$46.76B	$-2.73B	$22.71B	$41.55B	$83.78B	$-11.97B	$24.20B	$16.26B	$7.36B	$24.15B	·
Net Change in Cash	$6.31B	$16.15B	$-38.90B	$402M	$22.07B	$23.48B	$-5.03B	$6.80B	$3.04B	$-8.19B	$-2.04B	$-12.90B
Taxes Paid	$3.50B	$1.89B	$2.04B	$4.15B	$4.23B	$2.59B	$1.91B	$1.38B	$1.39B	$831M	$677M	$886M

Profitability 4

Annual Profitability data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Net Margin	23.9%	21.7%	16.8%	20.5%	25.2%	22.8%	21.8%	21.8%	16.1%	17.3%	17.4%	10.1%
Pretax Margin	31.1%	28.5%	21.8%	26.2%	32.9%	29.9%	27.3%	28.0%	27.4%	25.6%	24.2%	10.5%
ROA	1.3%	1.1%	0.77%	0.93%	1.3%	1.1%	1.0%	1.0%	0.73%	0.75%	0.77%	0.42%
ROE	15.6%	13.2%	9.1%	10.7%	14.5%	12.0%	11.2%	11.1%	8.0%	7.9%	8.4%	5.1%

Liquidity & Solvency 1

Annual Liquidity & Solvency data for MS
Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Debt / Equity		·	·	·	·	·	0.0	0.0	0.0	0.0	0.0	0.0	0.0

Efficiency 1

Annual Efficiency data for MS
Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Asset Turnover		0.1	0.1	0.0	0.0	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0

Per Share 6

Annual Per Share data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Book Value / Share	$70.53	$65.05	$60.88	$59.77	$59.50	$56.24	$51.16	$47.21	$43.28	$41.05	$39.16	$36.34
Revenue / Share	$44.38	$38.34	$32.89	$31.33	$32.94	$29.68	$25.26	$23.08	$20.84	$18.35	$18.00	$17.39
Cash Flow / Share	$-11.24	$0.85	$-20.37	$-3.73	$18.73	$-15.54	$24.86	$4.20	$-2.47	$1.30	$1.88	$0.57
Cash / Share	$70.57	$65.59	$54.85	$76.47	$72.07	$58.38	·	$51.30	$44.96	$23.42	$28.17	$24.08
Dividend / Share	$4	$4	$3	$3	$2	$1	$1	$1	$1	$1	$1	$0
EPS (TTM)	$10.21	$7.95	$5.18	$6.15	$8.03	$6.46	$5.19	$4.73	$3.07	$2.92	$2.90	$1.60

Growth Rates 10

Annual Growth Rates data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue YoY	14.4%	14.1%	0.89%	-10.2%	22.6%	·	·	·	·	·	·	·
Revenue CAGR 3Y	9.6%	1.1%	3.5%	·	·	·	·	·	·	·	·	·
Revenue CAGR 5Y	7.7%	·	·	·	·	·	·	·	·	·	·	·
EPS YoY	28.4%	53.5%	-15.8%	-23.4%	24.3%	·	·	·	·	·	·	·
EPS CAGR 3Y	18.4%	-0.33%	-7.1%	·	·	·	·	·	·	·	·	·
EPS CAGR 5Y	9.6%	·	·	·	·	·	·	·	·	·	·	·
Net Income YoY	25.9%	47.3%	-17.6%	-26.6%	36.7%	·	·	·	·	·	·	·
Net Income CAGR 3Y	15.2%	-3.8%	-6.2%	·	·	·	·	·	·	·	·	·
Net Income CAGR 5Y	8.9%	·	·	·	·	·	·	·	·	·	·	·
Dividend CAGR 5Y	19.2%	·	·	·	·	·	·	·	·	·	·	·

Valuation (TTM) 14

Annual Valuation (TTM) data for MS
Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Revenue TTM	·	·	·	·	·	·	·	·	$36.32B	$36.32B	$36.32B	$34.27B
Net Income TTM	$16.86B	$13.39B	$9.09B	$11.03B	$15.03B	$11.00B	$9.04B	$8.75B	$6.11B	$5.98B	$6.13B	$3.47B
Market Cap	$281.00B	$201.99B	$151.70B	$142.45B	$173.96B	$124.01B	$81.48B	$67.40B	$93.82B	$78.27B	$61.08B	$75.70B
Enterprise Value	·	·	·	·	·	$18.36B	·	$-19.80B	$13.43B	$35.83B	$9.17B	$30.98B
P/E	17.4	15.8	18.0	13.8	12.2	10.6	9.8	8.4	17.1	14.5	11.0	24.2
P/S	·	·	·	·	·	·	·	·	2.6	2.2	1.7	2.2
P/B	2.5	1.9	1.5	1.4	1.6	1.2	1.0	0.8	1.2	1.0	0.8	1.1
P / Tangible Book	3.2	2.5	2.0	1.9	2.2	1.5	·	·	·	·	·	·
P / Cash Flow	-15.7	148.3	-4.5	-22.3	5.1	-4.9	2.0	9.2	-20.8	32.0	16.6	66.9
EV / Revenue	·	·	·	·	·	·	·	·	0.4	1.0	0.3	0.9
Dividend Yield	2.4%	3.0%	3.8%	3.8%	2.4%	2.2%	3.2%	3.5%	2.2%	2.2%	2.4%	1.2%
Earnings Yield	5.8%	6.3%	5.5%	7.2%	8.2%	9.4%	10.2%	11.9%	5.9%	6.9%	9.1%	4.1%
Payout Ratio	39.1%	45.8%	63.4%	49.0%	27.7%	24.9%	29.0%	27.2%	34.1%	29.2%	23.8%	26.1%
Annual Payout	$6.59B	$6.14B	$5.76B	$5.40B	$4.17B	$2.74B	$2.63B	$2.38B	$2.08B	$1.75B	$1.46B	$904M

Income Statement 9

Quarterly Income Statement data for MS
Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Interest Expense	·	·	·	·	·	·	·	·	$11.13B	·	$11.33B	$10.04B	$7.63B	·	$3.59B	$1.33B
Interest Income	$15.27B	$14.95B	$15.46B	$14.90B	$13.75B	$13.49B	$14.19B	$13.53B	$12.93B	$12.83B	$12.13B	$10.91B	$9.98B	$9.23B	$6.10B	$3.61B
Pretax Income	$7.01B	$5.76B	$6.03B	$4.62B	$5.54B	$4.91B	$4.22B	$4.07B	$4.39B	$2.10B	$3.15B	$2.81B	$3.76B	$2.79B	$3.39B	$3.32B
Income Tax	$1.37B	$1.34B	$1.37B	$1.05B	$1.17B	$1.18B	$995M	$957M	$933M	$555M	$710M	$591M	$727M	$528M	$726M	$783M
Net Income	$5.57B	$4.40B	$4.61B	$3.54B	$4.32B	$3.71B	$3.19B	$3.08B	$3.41B	$1.52B	$2.41B	$2.18B	$2.98B	$2.24B	$2.63B	$2.50B
EPS (Basic)	$3.47	$2.72	$2.83	$2.15	$2.62	$2.24	$1.91	$1.85	$2.04	$0.88	$1.39	$1.25	$1.72	$1.30	$1.49	$1.40
EPS (Diluted)	$3.43	$2.68	$2.80	$2.13	$2.60	$2.23	$1.88	$1.82	$2.02	$0.86	$1.38	$1.24	$1.70	$1.27	$1.47	$1.39
Shares (Basic)	1,561,000,000	-3,158,000,000	1,571,000,000	1,577,000,000	1,584,000,000	-3,192,000,000	1,588,000,000	1,594,000,000	1,601,000,000	-3,276,000,000	1,624,000,000	1,635,000,000	1,645,000,000	-3,420,000,000	1,674,000,000	1,704,000,000
Shares (Diluted)	1,576,000,000	-3,191,000,000	1,590,000,000	1,593,000,000	1,600,000,000	-3,225,000,000	1,609,000,000	1,611,000,000	1,616,000,000	-3,311,000,000	1,643,000,000	1,651,000,000	1,663,000,000	-3,462,000,000	1,697,000,000	1,723,000,000

Balance Sheet 14

Quarterly Balance Sheet data for MS
Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Cash & Equivalents	$133.53B	$111.69B	$103.73B	$109.13B	$90.74B	$105.39B	$91.08B	$90.16B	$102.31B	·	$108.40B	$104.99B	$111.26B	·	$111.70B	$131.29B
Goodwill	$17.11B	$16.73B	$16.73B	$16.73B	$16.71B	$16.71B	$16.73B	$16.72B	$16.72B	$16.71B	$16.70B	$16.65B	$16.66B	$16.65B	$16.72B	$16.76B
Intangibles	$5.96B	$6.01B	$6.10B	$6.18B	$6.30B	$6.45B	$6.62B	$6.76B	$6.91B	·	$7.20B	$7.32B	$7.47B	·	$7.89B	$8.05B
Total Assets	$1.58T	$1.42T	$1.36T	$1.35T	$1.30T	$1.22T	$1.26T	$1.21T	$1.23T	·	$1.17T	$1.16T	$1.20T	·	$1.16T	$1.17T
Total Liabilities	$1.47T	$1.31T	$1.25T	$1.24T	$1.19T	$1.11T	$1.15T	$1.11T	$1.13T	·	$1.07T	$1.06T	$1.10T	·	$1.06T	$1.07T
Long-term Debt	$363.01B	$341.68B	$324.13B	$320.13B	$297.00B	$284.31B	$291.22B	$269.90B	$266.15B	·	$242.84B	$243.82B	$245.59B	·	$216.36B	$221.98B
Common Stock	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M	$20M	·	$20M	$20M	$20M	·	$20M	$20M
Paid-in Capital	$30.99B	$31.15B	$30.73B	$30.26B	$29.77B	$30.18B	$29.82B	$29.46B	$29.05B	·	$29.59B	$29.25B	$28.86B	·	$28.89B	$28.39B
Retained Earnings	$118.91B	$115.09B	$112.43B	$109.57B	$107.65B	$104.99B	$102.91B	$101.37B	$99.81B	·	$98.01B	$97.15B	$96.39B	·	$94.06B	$92.89B
Treasury Stock	$39.88B	$38.10B	$36.62B	$35.50B	$34.42B	$33.61B	$32.87B	$32.13B	$31.37B	·	$29.96B	$28.48B	$27.48B	·	$24.95B	$22.44B
AOCI	$-5.51B	$-6.29B	$-6.35B	$-5.91B	$-5.96B	$-6.81B	$-5.99B	$-6.76B	$-7.06B	·	$-7.20B	$-6.30B	$-5.71B	·	$-5.76B	$-5.02B
Stockholders' Equity	$114.29B	$111.63B	$109.96B	$108.18B	$106.81B	$104.51B	$103.65B	$100.71B	$99.20B	·	$99.21B	$100.39B	$100.83B	·	$101.01B	$101.60B
Liabilities + Equity	$1.58T	$1.42T	$1.36T	$1.35T	$1.30T	$1.22T	$1.26T	$1.21T	$1.23T	·	$1.17T	$1.16T	$1.20T	·	$1.16T	$1.17T
Shares Outstanding	1,579,629,298	1,582,834,137	1,591,091,689	1,598,299,431	1,606,806,297	1,606,653,706	1,612,068,430	1,619,075,147	1,626,657,461	1,627,000,000	1,642,250,165	1,658,733,133	1,670,318,320	1,675,000,000	1,694,051,265	1,723,083,208

Cash Flow 8

Quarterly Cash Flow data for MS
Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
D&A	$714M	$1.14B	$1.35B	$1.31B	$865M	$1.65B	$1.27B	$1.27B	$975M	$1.41B	$988M	$922M	$940M	$1.21B	$928M	$921M
Stock-based Comp	$571M	$469M	$449M	$469M	$539M	$391M	$372M	$417M	$442M	$361M	$367M	$423M	$558M	$498M	$528M	$418M
Operating Cash Flow	$-7.10B	$-2.41B	$-3.33B	$11.83B	$-23.98B	$11.80B	$-17.32B	$2.52B	$4.36B	$-17.75B	$3.75B	$-9.67B	$-9.87B	$-14.00B	$-7.55B	$14.91B
Investing Cash Flow	$-6.60B	$-13.40B	$-10.68B	$-17.67B	$-5.03B	$-10.15B	$-6.70B	$-13.67B	$1.05B	$-8.80B	$517M	$6.24B	$-1.04B	$898M	$-4.16B	$-8.53B
Dividends Paid	$1.71B	$1.69B	$1.71B	$1.58B	$1.62B	$1.58B	$1.59B	$1.47B	$1.50B	$1.48B	$1.50B	$1.38B	$1.41B	$1.38B	$1.41B	$1.30B
Financing Cash Flow	$36.46B	$23.97B	$9.08B	$21.67B	$13.04B	$15.26B	$23.05B	$-404M	$8.86B	$5.69B	$361M	$-2.49B	$-6.29B	$25.98B	$-4.57B	$-7.99B
Net Change in Cash	$21.83B	$7.96B	$-5.40B	$18.39B	$-14.65B	$14.30B	$924M	$-12.14B	$13.07B	$-19.17B	$3.41B	$-6.26B	$-16.87B	$16.43B	$-19.59B	$-4.80B
Taxes Paid	$398M	$820M	$339M	$1.81B	$534M	$436M	$406M	$810M	$233M	$787M	$270M	$671M	$307M	$1.34B	$817M	$1.60B

Profitability 4

Quarterly Profitability data for MS
Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Net Margin	27.1%	·	25.3%	21.1%	24.3%	·	20.7%	20.5%	22.5%	·	18.1%	16.2%	20.5%	·	20.3%	19.0%
Pretax Margin	34.1%	·	33.1%	27.5%	31.2%	·	27.4%	27.1%	29.0%	·	23.7%	20.9%	25.9%	·	26.1%	25.3%
ROA	0.39%	·	0.35%	0.28%	0.34%	·	0.26%	0.26%	0.28%	·	0.21%	0.19%	0.25%	·	0.22%	0.21%
ROE	5.0%	·	4.3%	3.4%	4.2%	·	3.1%	3.1%	3.4%	·	2.4%	2.2%	2.9%	·	2.5%	2.4%

Efficiency 1

Quarterly Efficiency data for MS
Metric	Trend	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Asset Turnover		0.0	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	0.0	0.0	0.0	·	0.0	0.0

Per Share 6

Quarterly Per Share data for MS
Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Book Value / Share	$72.35	·	$69.11	$67.69	$66.47	·	$64.29	$62.20	$60.98	·	$60.41	$60.52	$60.36	·	$59.63	$58.96
Revenue / Share	$13.06	·	$11.46	$10.54	$11.09	·	$9.56	$9.32	$9.37	·	$8.08	$8.15	$8.73	·	$7.65	$7.62
Cash Flow / Share	$-4.50	·	·	·	$-14.98	·	·	·	$2.70	·	·	·	$-5.93	·	·	·
Cash / Share	$84.53	·	$65.20	$68.28	$56.47	·	$56.50	$55.69	$62.89	·	$66.01	$63.30	$66.61	·	$65.93	$76.19
Dividend / Share	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1	$1
EPS (TTM)	$10.96	·	$9.41	$8.43	$8.32	·	$7.10	$6.46	$6.34	·	$5.79	$5.80	$6.58	·	$6.86	$7.24

Valuation (TTM) 8

Quarterly Valuation (TTM) data for MS
Metric	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022	Q2 2022
Net Income TTM	$18.03B	·	$15.65B	$14.12B	$13.99B	·	$12.08B	$11.08B	$10.98B	·	$10.20B	$10.29B	$11.77B	·	$12.50B	$13.38B
Market Cap	$259.96B	·	$252.92B	$225.14B	$187.47B	·	$168.04B	$157.36B	$153.17B	·	$134.12B	$141.66B	$146.65B	·	$133.85B	$131.06B
P/E	15.0	·	16.9	16.7	14.0	·	14.7	15.0	14.9	·	14.1	14.7	13.3	·	11.5	10.5
P/B	2.3	·	2.3	2.1	1.8	·	1.6	1.6	1.5	·	1.4	1.4	1.5	·	1.3	1.3
P / Tangible Book	2.8	·	2.9	2.6	2.2	·	2.1	2.0	2.0	·	1.8	1.9	1.9	·	1.8	1.7
P / Cash Flow	-36.6	·	·	·	-7.8	·	·	·	35.1	·	·	·	-14.9	·	·	·
Earnings Yield	6.7%	·	5.9%	6.0%	7.1%	·	6.8%	6.7%	6.7%	·	7.1%	6.8%	7.5%	·	8.7%	9.5%
Payout Ratio	30.7%	·	·	·	37.5%	·	·	·	43.9%	·	·	·	47.2%	·	·	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Net Income	$16.86B	$13.39B	$9.09B	$11.03B	$15.03B
Diluted EPS	$10.21	$7.95	$5.18	$6.15	$8.03

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Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Dividends Yield, payout ratio, dividend history, 5Y CAGR

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12-Month Price Target

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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