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Morgan Stanley

MS Financial Capital Markets

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

181.62 0.82 −0.45%

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Market cap: $286.5B
P/E: 14.2×
Fwd P/E: 14.3×
Dividend yield: 2.37%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

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Morgan Stanley (MS) Debt to equity

Alert me on Debt to equity

Morgan Stanley's debt to equity at the end of the quarter to 30 June 2026 was 3.3×, up 0.2× from fiscal 2025 (3.1×). Over the past ten years it has ranged from 2.0× (fiscal 2015) to 3.1× (fiscal 2025) — the current reading is the highest in ten years. That is above the Capital Markets industry median of 0.1× and above the Financial sector median of 0.2×.

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<iframe src="https://stockrow.com/embed/MS/debt-to-equity" width="100%" height="360" style="border:0" loading="lazy" title="Morgan Stanley debt to equity, 10 years"></iframe>
<p style="font-size:12px">Source: <a href="https://stockrow.com/MS/metrics/debt-to-equity">Morgan Stanley (MS) debt to equity — stockrow.com</a></p>

Period	Debt to equity	Change
FY2025	3.1×	13.07%
FY2024	2.7×	3.86%
FY2023	2.6×	12.17%
FY2022	2.4×	7.53%
FY2021	2.2×	3.92%
FY2020	2.1×	(9.65%)
FY2019	2.3×	(0.02%)
FY2018	2.3×	(5.07%)
FY2017	2.5×	14.30%
FY2016	2.1×	6.38%

Period	Debt to equity	Change
Jun 2026	3.3×	3.80%
Mar 2026	3.2×	3.96%
Dec 2025	3.1×	3.71%
Sep 2025	3.0×	(0.74%)
42 more quarters	Free account

Against its own ten years

Low 2.0× High 3.1×

Ten-year median 2.3×

Current reading's percentile 100

Company	Debt to equity
CRCL Circle Internet Group, Inc. compare	0.0×
TW Tradeweb Markets Inc. compare	0.0×
IBKR Interactive Brokers Group, Inc. compare	0.0×
SCHW The Charles Schwab Corporation compare	0.5×
LPLA LPL Financial Holdings Inc. compare	1.3×
HOOD Robinhood Markets, Inc. compare	2.2×
GS The Goldman Sachs Group, Inc. compare	2.8×
MS Morgan Stanley	3.3×
NMR Nomura Holdings Inc ADR compare	7.8×
Capital Markets industry median	0.1×
Financial sector median	0.2×
Market median	0.1×

What Debt to equity is

Debt to Equity Ratio shows how much a company relies on borrowed money compared with the money its shareholders have in the business.

(Long Term Debt (Total) + Current Part of Debt) ÷ Shareholders Equity (Total)

The full definition of Debt to equity →

Morgan Stanley (MS) Debt to equity

Debt to equity, annual

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Against its own ten years

Debt to equity against peers

What Debt to equity is

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Debt to equity, annual

Annual newest first

Quarterly newest first

Against its own ten years

Debt to equity against peers

What Debt to equity is

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