stockrow
Friday 6 November 2026
Export MS’s income statement to Excel — free account
Morgan Stanley
Morgan Stanley’s revenue for fiscal 2025 (year ended December 2025) was $119.7 billion, up 11.5% from fiscal 2024.
- Revenue
- +6.69%
- EPS
- +8.48%
- Free cash flow
- −132.2%
- Total debt
- +19.4%
Quarter to September 2026, against a year earlier
183.34
0.90
+0.49%
Follow MS
Alert me
| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
14.40 | 16.57 | 8.26 | 9.72 | 10.51 | 12.03 | 13.80 | 17.99 | 15.62 | 17.20 |
Piotroski F-Score |
4 | 4 | 8 | 8 | 4 | 8 | 6 | 4 | 6 | 4 |
P/S ratio |
2.10 | 2.13 | 1.35 | 1.53 | 2.09 | 2.87 | 2.20 | 1.67 | 1.86 | 2.34 |
P/FCF ratio |
19.38 | 0.00 | 12.45 | 2.12 | 0.00 | 5.53 | 0.00 | 0.00 | 0.00 | 0.00 |
P/Operating CF |
(32.07) | 22.97 | (9.43) | (607.80) | (4.33) | 502.05 | (10.36) | (8.61) | 16.95 | (115.95) |
P/B ratio |
1.14 | 1.33 | 0.93 | 1.11 | 1.17 | 1.77 | 1.57 | 1.68 | 2.09 | 2.72 |
Price to Tangible BV |
1.32 | 1.53 | 1.06 | 1.27 | 1.42 | 2.38 | 2.13 | 2.27 | 2.76 | 3.49 |
EV/Sales |
(1.56) | (0.07) | (0.89) | (0.03) | (0.14) | 0.51 | 0.12 | 1.04 | 1.31 | 2.04 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.22 | 0.25 | 1.78 | 2.07 | 3.23 |
EV/Operating CF |
(11.00) | 0.71 | (6.11) | (0.04) | 0.29 | 0.91 | (1.19) | (2.85) | 103.55 | (13.67) |
EV/FCF |
(14.42) | 0.52 | (8.21) | (0.04) | 0.28 | 0.98 | (0.80) | (2.59) | (67.16) | (11.76) |
Quick Ratio |
0.78 | 0.77 | 0.81 | 0.75 | 0.73 | 0.78 | 0.79 | 0.75 | 0.82 | 0.81 |
Current Ratio |
0.78 | 0.77 | 0.81 | 0.75 | 0.73 | 0.78 | 0.79 | 0.75 | 0.82 | 0.81 |
Net Debt/EBITDA |
(9.99) | (5.38) | (4.85) | (3.20) | (5.32) | (5.72) | (4.52) | (1.07) | (0.86) | (0.46) |
Debt/Assets |
20.33% | 22.61% | 22.22% | 21.51% | 19.45% | 19.62% | 20.17% | 22.09% | 23.77% | 24.57% |
Debt/Equity |
2.15 | 2.45 | 2.33 | 2.33 | 2.10 | 2.19 | 2.35 | 2.64 | 2.74 | 3.10 |
Asset Turnover |
0.05 | 0.05 | 0.06 | 0.06 | 0.05 | 0.05 | 0.06 | 0.08 | 0.09 | 0.09 |
Operating CF/Net income |
0.98 | (0.81) | 0.89 | 4.79 | (2.40) | 2.33 | (0.61) | (3.93) | 0.11 | (1.10) |
Capex/Depreciation |
(0.73) | (0.93) | (1.01) | (0.69) | (0.38) | (0.55) | (0.77) | (0.80) | (0.67) | (0.62) |
Interest Coverage |
3.67 | 2.83 | 2.11 | 1.91 | 4.75 | 15.40 | 2.15 | 1.31 | 1.39 | 1.45 |
| 7.96% | 8.01% | 11.51% | 11.58% | 12.49% | 15.11% | 11.02% | 9.29% | 13.70% | 16.37% | |
| 0.69% | 0.67% | 0.96% | 0.97% | 1.04% | 1.26% | 0.89% | 0.72% | 1.06% | 1.23% | |
ROIC |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 72.44% | 84.95% | 57.06% |
Return on Tangible Assets |
(4.34%) | (4.24%) | (7.37%) | (5.43%) | (4.93%) | (7.80%) | (6.09%) | (4.06%) | (8.61%) | (8.93%) |
Average Days of Receivables |
1,353.35 | 1,340.78 | 1,228.06 | 1,260.49 | 1,723.03 | 1,696.89 | 1,618.22 | 1,188.31 | 1,103.36 | 1,198.18 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
57.15% | 52.85% | 47.81% | 46.82% | 52.31% | 54.07% | 48.91% | 37.25% | 33.59% | 33.02% |
Intangible Assets out of Total Assets |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
Share Based Compensation of Revenue |
2.99% | 2.35% | 1.83% | 2.14% | 2.49% | 3.41% | 2.84% | 1.86% | 1.51% | 1.61% |
Graham Net Nets |
(3.67) | (3.49) | (4.45) | (4.23) | (3.92) | (2.40) | (2.84) | (3.10) | (2.19) | (1.90) |
Graham Number |
50.34 | 52.77 | 67.89 | 73.68 | 92.70 | 100.83 | 87.42 | 81.13 | 104.37 | 123.21 |
Earnings Yield |
6.95% | 6.04% | 12.11% | 10.29% | 9.51% | 8.31% | 7.24% | 5.56% | 6.40% | 5.81% |
Free Cash Flow Yield |
5.16% | (6.60%) | 8.03% | 47.12% | (24.28%) | 18.07% | (6.54%) | (24.17%) | (1.05%) | (7.44%) |
Revenue per Share |
20.52 | 24.52 | 29.39 | 33.36 | 32.82 | 34.24 | 38.99 | 56.36 | 67.43 | 76.02 |
Operating CF per Share |
2.91 | (2.53) | 4.28 | 25.22 | (15.74) | 19.03 | (3.78) | (20.60) | 0.86 | (11.37) |
Capex per Share |
(0.69) | (0.92) | (1.09) | (1.13) | (0.90) | (1.29) | (1.82) | (2.10) | (2.18) | (1.84) |
Free Cash Flow per Share |
2.22 | (3.45) | 3.19 | 24.09 | (16.64) | 17.74 | (5.60) | (22.70) | (1.32) | (13.21) |
Cash per Share |
164.71 | 162.17 | 176.83 | 171.27 | 208.53 | 211.45 | 222.00 | 197.21 | 218.61 | 243.87 |
Shareholders Equity per Share |
41.74 | 44.08 | 47.66 | 51.14 | 64.35 | 59.72 | 59.86 | 61.41 | 66.27 | 71.57 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
41.74 | 44.08 | 47.66 | 51.14 | 64.35 | 59.72 | 59.86 | 61.41 | 66.27 | 71.57 |
Free Cash Flow |
4,107.00 | (6,134.00) | 5,440.00 | 38,947.00 | (26,675.00) | 31,663.00 | (9,475.00) | (36,948.00) | (2,100.00) | (20,787.00) |
Working Capital |
(126,797.00) | (131,709.00) | (111,555.00) | (156,878.00) | (213,021.00) | (186,826.00) | (173,209.00) | (210,171.00) | (148,703.00) | (182,023.00) |
Capital Expenditures |
(1,276.00) | (1,629.00) | (1,865.00) | (1,826.00) | (1,444.00) | (2,308.00) | (3,078.00) | (3,412.00) | (3,462.00) | (2,898.00) |
Net Current Asset Value |
(292,513.00) | (324,291.00) | (301,217.00) | (349,505.00) | (430,100.00) | (419,953.00) | (411,267.00) | (473,903.00) | (437,522.00) | (530,958.00) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.47 | 0.29 | 1.93 | 2.23 | 3.45 |
Capex to Sales |
0.03 | 0.04 | 0.04 | 0.03 | 0.03 | 0.04 | 0.05 | 0.04 | 0.03 | 0.02 |
Price to Operating Income |
6.54 | 5.77 | 3.18 | 3.49 | 6.01 | 8.33 | 5.50 | 3.09 | 3.17 | 3.94 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Cash ROIC |
0.75% | (1.10%) | 0.95% | 7.05% | (4.08%) | 4.42% | (1.33%) | (5.40%) | (0.28%) | (2.46%) |
Accounts Receivable Turnover |
0.28 | 0.29 | 0.30 | 0.30 | 0.24 | 0.23 | 0.23 | 0.31 | 0.34 | 0.33 |
Accounts Payable Turnover |
0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
36,217.32 | 33,397.59 | 27,387.81 | 28,964.87 | 28,342.27 | 24,983.55 | 22,813.45 | 21,856.74 | 15,511.44 | 17,670.32 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
135,937.00 | 150,510.50 | 164,595.00 | 177,580.00 | 217,308.50 | 266,243.00 | 288,238.50 | 295,535.00 | 311,528.00 | 358,562.50 |
Average Payables |
188,569.50 | 191,011.50 | 185,534.50 | 188,696.50 | 212,635.50 | 228,061.00 | 222,409.50 | 212,141.00 | 192,043.00 | 201,228.50 |
Average Assets |
801,207.00 | 833,341.00 | 852,632.00 | 874,480.00 | 1,005,645.50 | 1,152,001.00 | 1,184,185.50 | 1,186,962.00 | 1,204,382.00 | 1,317,670.50 |
Average Common Equity |
69,160.50 | 69,801.50 | 71,416.00 | 73,531.50 | 84,038.00 | 96,373.50 | 95,664.50 | 91,856.50 | 93,455.00 | 99,290.00 |
Columns are period end dates · fundamentals updated 2 Nov 2026