Pricing Log in Create free account
Saturday 17 October 2026 Export MS’s income statement to Excel — free account

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. In the quarter to September 2026, revenue grew 6.69%, EPS grew 13.4%, free cash flow fell 132.2% and total debt rose 19.4%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years, revenue growth for five.

180.57 1.53 −0.84%
Market cap
$286.0B
P/E
14.0×
Fwd P/E
17.9×
Dividend yield
2.94%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

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×.

Debt to equity, annual

Embed this chart

Annual newest first

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%

Quarterly newest first

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

Against its own ten years

Low 2.0× High 3.1×
Ten-year median 2.3×
Current reading's percentile 100

Debt to equity against peers

Company Debt to equity
IBKR Interactive Brokers Group, Inc. compare 0.0×
CRCL Circle Internet Group, Inc. compare 0.0×
TW Tradeweb Markets 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 2.4×
GS The Goldman Sachs Group, Inc. compare 2.8×
MS Morgan Stanley 3.3×
NMR Nomura Holdings Inc ADR compare 8.1×
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 →

More on MS