Morgan Stanley
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.
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Morgan Stanley (MS) Operating cash flow
Morgan Stanley's operating cash flow for fiscal 2025 was −$17.9B, compared with $1.4B in fiscal 2024. Over the twelve months to 30 June 2026 it was −$15.6B. Over the past ten years it has ranged from −$33.5B (fiscal 2023) to $40.8B (fiscal 2019); the current reading is higher than 27% of that period. Morgan Stanley ranks 89th of 90 Capital Markets companies by operating cash flow.
Operating cash flow, annual
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Annual newest first
| Period | Operating cash flow | Change |
|---|---|---|
| FY2025 | −$17.9B | — |
| FY2024 | $1.4B | — |
| FY2023 | −$33.5B | — |
| FY2022 | −$6.4B | — |
| FY2021 | $34.0B | — |
| FY2020 | −$25.2B | — |
| FY2019 | $40.8B | 458.15% |
| FY2018 | $7.3B | — |
| FY2017 | −$4.5B | — |
| FY2016 | $5.4B | — |
Quarterly newest first
| Period | Operating cash flow | Change |
|---|---|---|
| Jun 2026 | −$2.7B | — |
| Mar 2026 | −$7.1B | — |
| Dec 2025 | −$2.4B | — |
| Sep 2025 | −$3.3B | — |
| 42 more quarters | Free account |
Against its own ten years
Operating cash flow against peers
| Company | Operating cash flow |
|---|---|
| IBKR Interactive Brokers Group, Inc. compare | $15.9B |
| SCHW The Charles Schwab Corporation compare | $11.4B |
| NMR Nomura Holdings Inc ADR compare | $5.9B |
| TW Tradeweb Markets Inc. compare | $1.2B |
| CRCL Circle Internet Group, Inc. compare | $776.9M |
| HOOD Robinhood Markets, Inc. compare | $245.0M |
| LPLA LPL Financial Holdings Inc. compare | −$252.2M |
| MS Morgan Stanley | −$15.6B |
| GS The Goldman Sachs Group, Inc. compare | −$39.4B |
What Operating cash flow is
Operating Cash Flow shows how much cash a company’s day-to-day business actually brings in, after paying suppliers, staff and taxes.
Reported line item
More on MS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement