MS

Updated: Mar 18, 2026 12:05 AM

Morgan Stanley

Market Cap: $250.61B P/S: 9x Ownership — Insider: 24.0% | Institutional: 62.7% | Retail: 13.3% FINANCIAL SERVICES CAPITAL MARKETS

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City.

Revenue

Revenue, Profit & Income — explained by Jerry the Goat Farmer
Total RevenueEvery single dollar that wanders onto Jerry's farm. Cheese sales, milk money, goat yoga memberships, and that one weird guy who pays $50 to just watch the goats. Jerry doesn't ask questions.
Gross ProfitThe money left after feeding the goats but before reality sets in. Jerry feels rich for exactly 11 minutes.
Net IncomeWhat Jerry actually gets to keep after the Jerrynment, cousin Larry, the feed store, and his ex-wife's lawyer all take their cut. This number is often... humbling.
Using alias: revenuea -> totalRevenue [annual] [income]
Using alias: profita -> grossProfit [annual] [income]
Using alias: incomea -> netIncome [annual] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        20/20 dates (100%)
  ✅ grossProfit                         20/20 dates (100%)
  ✅ netIncome                           20/20 dates (100%)

Plot for MS (in B)
  reports: annualReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               0.00B                 28.75B                 57.49B                 86.24B                  114.98B
               |                      |                      |                      |                       |

  2006-12-31 |  69.39B
  2007-12-31 |  82.27B
  2008-12-31 |  53.92B
  2009-12-31 |  28.29B
  2010-12-31 |  35.77B
  2011-12-31 |  37.48B
  2012-12-31 |  30.54B
  2013-12-31 |  35.21B
  2014-12-31 |  36.15B
  2015-12-31 |  36.01B
  2016-12-31 |  36.03B
  2017-12-31 |  41.55B
  2018-12-31 |  47.80B
  2019-12-31 |  51.45B
  2020-12-31 |  49.68B
  2021-12-31 |  57.78B
  2022-12-31 |  62.48B
  2023-12-31 |  88.29B
  2024-12-31 |  103.14B
  2025-12-31 |  114.98B

               |                      |                      |                      |                       |
               0.00B                 28.75B                 57.49B                 86.24B                  114.98B

Costs

Operating Costs — explained by Jerry the Goat Farmer
Cost of Goods & Services SoldThe unglamorous stuff: hay, feed, vet bills for when Sergio the goat eats another iPhone. These goats don't feed themselves, and they definitely don't apologize.
Selling, General & AdministrativeThe "CHEESE HAPPENS" billboard on the highway, the accountant (cousin Larry, who definitely cheated in Monopoly as a kid), office supplies, and the therapy Jerry needs after dealing with cousin Larry.
Research & DevelopmentJerry's experimental ghost pepper goat cheese that made three customers cry. Also the goat treadmill. The goats refuse to use the goat treadmill.
Using alias: rnda -> researchAndDevelopment [annual] [income]
Using alias: sgaa -> sellingGeneralAndAdministrative [annual] [income]
Using alias: cogsa -> costofGoodsAndServicesSold [annual] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  researchAndDevelopment              10/20 dates (50%)
  ✅ sellingGeneralAndAdministrative     20/20 dates (100%)
  ✅ costofGoodsAndServicesSold          20/20 dates (100%)

Plot for MS (in B)
  reports: annualReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                 14.32B                 28.64B                 42.96B                  57.28B
               |                      |                      |                      |                       |

  2006-12-31 |  41.65B ⊗
  2007-12-31 |  57.28B ⊗
  2008-12-31 |  36.26B ⊗
  2009-12-31 |  14.33B
  2010-12-31 |  15.87B
  2011-12-31 |  16.32B
  2012-12-31 |  15.62B
  2013-12-31 |  16.28B
  2014-12-31 |  17.82B
  2015-12-31 |  16.02B
  2016-12-31 |  15.88B
  2017-12-31 |  17.17B
  2018-12-31 |  17.63B
  2019-12-31 |  18.66B ⊗
  2020-12-31 |  20.70B ⊗
  2021-12-31 |  24.63B ⊗
  2022-12-31 |  23.05B ⊗
  2023-12-31 |  38.15B ⊗
  2024-12-31 |  45.79B ⊗
  2025-12-31 |  49.37B ⊗

               |                      |                      |                      |                       |
               0.00B                 14.32B                 28.64B                 42.96B                  57.28B

Cash

Cash, Debt & Cash Flow — explained by Jerry the Goat Farmer
Cash & Short-Term InvestmentsThe coffee can buried behind the barn, $47 in a savings account, and some cryptocurrency Jerry bought drunk in 2021. He's afraid to check on it.
Short/Long-Term DebtThe barn loan that'll follow Jerry to the grave (long-term) and the $200 he owes the feed store guy who's starting to give him looks (short-term).
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Using alias: casha -> cashAndShortTermInvestments [annual] [balance]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: paychecka -> operatingCashflow [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ operatingCashflow                   20/20 dates (100%)

Plot for MS (in B)
  reports: annualReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -567.26B               -283.63B                 0.00B                 283.63B                 567.26B
               |                      |                      |                      |                       |

  2006-12-31 |                                          |  567.26B
  2007-12-31 |                                             |  450.70B
  2008-12-31 |                                               |  330.36B
  2009-12-31 |                                           |  432.43B
  2010-12-31 |                                               |  434.72B
  2011-12-31 |                                               |  382.29B
  2012-12-31 |                                               |  310.11B
  2013-12-31 |                                               |  315.61B
  2014-12-31 |                                               |  237.07B
  2015-12-31 |                                               |  221.41B
  2016-12-31 |                                               |  251.72B
  2017-12-31 |                                              |  260.28B
  2018-12-31 |                                               |  248.89B
  2019-12-31 |                                               |  261.52B
  2020-12-31 |                                             |  283.53B
  2021-12-31 |                                               |  305.36B
  2022-12-31 |                                              |  308.75B
  2023-12-31 |                                            |  339.04B
  2024-12-31 |                                               |  360.49B
  2025-12-31 |                                               |  475.56B

               |                      |                      |                      |                       |
               -567.26B               -283.63B                 0.00B                 283.63B                 567.26B

FCF

Free Cash Flow — explained by Jerry the Goat Farmer
Operating Cash FlowReal cash moving in and out. Not "my customer promised to pay me" money. Actual dollars. Jerry has trust issues now.
Capital ExpendituresBig, expensive purchases Jerry justifies at 2am: the industrial milking machine, new fencing, and a hot tub "for the goats" that somehow only Jerry uses.
Using alias: paychecka -> operatingCashflow [annual] [cashflow]
Using alias: capexa -> capitalExpenditures [annual] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   20/20 dates (100%)
  ✅ capitalExpenditures                 20/20 dates (100%)

Plot for MS (in B)
  reports: annualReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -73.42B                -36.71B                 0.00B                 36.71B                  73.42B
               |                      |                      |                      |                       |

  2006-12-31 |         | -60.80B
  2007-12-31 |                                 |  -22.09B
  2008-12-31 |                                               |  73.42B
  2009-12-31 |                  |  -45.95B
  2010-12-31 |                                               |  40.61B
  2011-12-31 |                                               |  15.38B
  2012-12-31 |                                               |  24.76B
  2013-12-31 |                                               |  35.01B
  2014-12-31 |                                               |  1.13B
  2015-12-31 |                                               |  3.67B
  2016-12-31 |                                               |  2.45B
  2017-12-31 |                                            |  -4.50B
  2018-12-31 |                                               |  7.30B
  2019-12-31 |                                               |  40.77B
  2020-12-31 |                               |  -25.23B
  2021-12-31 |                                               |  33.97B
  2022-12-31 |                                           |  -6.40B
  2023-12-31 |                          |  -33.54B
  2024-12-31 |                                               |  3.46B
  2025-12-31 |                                               |  49.00B

               |                      |                      |                      |                       |
               -73.42B                -36.71B                 0.00B                 36.71B                  73.42B

Assets

Assets, Liabilities & Equity — explained by Jerry the Goat Farmer
🐐 Assets = Liabilities + Equity

Translation: What Jerry owns = What Jerry owes + What's actually Jerry's

Or as Jerry mutters every April during tax season:
"Everything I have equals everything I owe plus whatever scraps are left for me, a humble goat man just trying to make cheese in this cruel world."
Total AssetsEverything Jerry owns: 12 acres of land, a barn that's "rustic" (rotting), 47 goats, Sergio (appraised at $800, priceless to Jerry), the cheese cave, and a 2004 Ford F-150 held together by duct tape and prayer.
Total LiabilitiesEverything Jerry owes: bank loans, the feed store tab, back taxes, and a moral debt to his neighbor for "borrowing" that tractor in 2019. They both know he's not returning it.
Total Shareholder EquityIf Jerry sold absolutely everything, paid off every debt, and finally returned that tractor... this is what he'd have left. His actual net worth. Some days it's a retirement fund. Other days it's "enough for a bus ticket and a fresh start."
Using alias: assetsa -> totalAssets [annual] [balance]
Using alias: liabila -> totalLiabilities [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         20/20 dates (100%)
  ✅ totalLiabilities                    20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for MS (in T)
  reports: annualReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00T                  0.36T                  0.71T                  1.07T                   1.42T
               |                      |                      |                      |                       |

  2006-12-31 |  1.12T
  2007-12-31 |  1.05T
  2008-12-31 |  0.68T
  2009-12-31 |  0.77T
  2010-12-31 |  0.81T
  2011-12-31 |  0.75T
  2012-12-31 |  0.78T
  2013-12-31 |  0.83T
  2014-12-31 |  0.80T
  2015-12-31 |  0.79T
  2016-12-31 |  0.81T
  2017-12-31 |  0.85T
  2018-12-31 |  0.85T
  2019-12-31 |  0.90T
  2020-12-31 |  1.12T
  2021-12-31 |  1.19T
  2022-12-31 |  1.18T
  2023-12-31 |  1.19T
  2024-12-31 |  1.22T
  2025-12-31 |  1.42T

               |                      |                      |                      |                       |
               0.00T                  0.36T                  0.71T                  1.07T                   1.42T

Buffet

Using alias: incomea -> netIncome [annual] [income]
Using alias: debta -> shortLongTermDebtTotal [annual] [balance]
Using alias: equitya -> totalShareholderEquity [annual] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           20/20 dates (100%)
  ✅ shortLongTermDebtTotal              20/20 dates (100%)
  ✅ totalShareholderEquity              20/20 dates (100%)

Plot for MS (in B)
  reports: annualReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               0.00B                 141.82B                283.63B                425.45B                 567.26B
               |                      |                      |                      |                       |

  2006-12-31 |  567.26B
  2007-12-31 |  450.70B
  2008-12-31 |  330.36B
  2009-12-31 |  432.43B
  2010-12-31 |  434.72B
  2011-12-31 |  382.29B
  2012-12-31 |  310.11B
  2013-12-31 |  315.61B
  2014-12-31 |  237.07B
  2015-12-31 |  221.41B
  2016-12-31 |  251.72B
  2017-12-31 |  260.28B
  2018-12-31 |  248.89B
  2019-12-31 |  261.52B
  2020-12-31 |  283.53B
  2021-12-31 |  305.36B
  2022-12-31 |  308.75B
  2023-12-31 |  339.04B
  2024-12-31 |  360.49B
  2025-12-31 |  475.56B

               |                      |                      |                      |                       |
               0.00B                 141.82B                283.63B                425.45B                 567.26B

Revenue-q

Using alias: revenue -> totalRevenue [quarterly] [income]
Using alias: profit -> grossProfit [quarterly] [income]
Using alias: income -> netIncome [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ✅ totalRevenue                        25/25 dates (100%)
  ✅ grossProfit                         25/25 dates (100%)
  ✅ netIncome                           25/25 dates (100%)

Plot for MS (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalRevenue, grossProfit, netIncome

               0.00B                  7.51B                 15.02B                 22.54B                  30.05B
               |                      |                      |                      |                       |

  2019-12-31 |  12.74B
  2020-03-31 |  11.19B
  2020-06-30 |  13.70B
  2020-09-30 |  11.59B
  2020-12-31 |  13.24B
  2021-03-31 |  15.22B
  2021-06-30 |  14.31B
  2021-09-30 |  14.22B
  2021-12-31 |  14.04B
  2022-03-31 |  14.35B
  2022-06-30 |  13.58B
  2022-09-30 |  15.73B
  2022-12-31 |  18.81B
  2023-03-31 |  21.27B
  2023-06-30 |  21.48B
  2023-09-30 |  22.57B
  2023-12-31 |  24.19B
  2024-03-31 |  25.35B
  2024-06-30 |  25.49B
  2024-09-30 |  26.33B
  2024-12-31 |  25.98B
  2025-03-31 |  27.91B
  2025-06-30 |  28.16B
  2025-09-30 |  30.05B
  2025-12-31 |  28.86B

               |                      |                      |                      |                       |
               0.00B                  7.51B                 15.02B                 22.54B                  30.05B

Costs-q

Using alias: rnd -> researchAndDevelopment [quarterly] [income]
Using alias: sga -> sellingGeneralAndAdministrative [quarterly] [income]
Using alias: cogs -> costofGoodsAndServicesSold [quarterly] [income]


Data Completeness:
------------------------------------------------------------
  ⚠️  SPARSE researchAndDevelopment              0/25 dates (0%)
  ✅ sellingGeneralAndAdministrative     25/25 dates (100%)
  ✅ costofGoodsAndServicesSold          25/25 dates (100%)

Plot for MS (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: researchAndDevelopment, sellingGeneralAndAdministrative, costofGoodsAndServicesSold

               0.00B                  3.24B                  6.48B                  9.72B                  12.96B
               |                      |                      |                      |                       |

  2019-12-31 |  5.23B ⊗
  2020-03-31 |  4.28B ⊗
  2020-06-30 |  6.04B ⊗
  2020-09-30 |  5.09B ⊗
  2020-12-31 |  5.45B ⊗
  2021-03-31 |  6.76B ⊗
  2021-06-30 |  6.42B ⊗
  2021-09-30 |  5.92B ⊗
  2021-12-31 |  5.38B ⊗
  2022-03-31 |  6.27B ⊗
  2022-06-30 |  5.55B ⊗
  2022-09-30 |  5.61B ⊗
  2022-12-31 |  7.00B ⊗
  2023-03-31 |  7.87B ⊗
  2023-06-30 |  9.06B ⊗
  2023-09-30 |  10.28B ⊗
  2023-12-31 |  12.16B ⊗
  2024-03-31 |  11.13B ⊗
  2024-06-30 |  11.54B ⊗
  2024-09-30 |  12.07B ⊗
  2024-12-31 |  11.05B ⊗
  2025-03-31 |  11.53B ⊗
  2025-06-30 |  12.75B ⊗
  2025-09-30 |  12.96B ⊗
  2025-12-31 |  12.12B ⊗

               |                      |                      |                      |                       |
               0.00B                  3.24B                  6.48B                  9.72B                  12.96B

Cash-q

Using alias: cash -> cashAndShortTermInvestments [quarterly] [balance]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ cashAndShortTermInvestments         25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ operatingCashflow                   25/25 dates (100%)

Plot for MS (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: cashAndShortTermInvestments, shortLongTermDebtTotal, operatingCashflow

               -475.56B               -237.78B                 0.00B                 237.78B                 475.56B
               |                      |                      |                      |                       |

  2019-12-31 |                                              |  261.52B
  2020-03-31 |                                               |  253.73B
  2020-06-30 |                                             |  269.97B
  2020-09-30 |                                              |  258.68B
  2020-12-31 |                                             |  283.53B
  2021-03-31 |                                               |  228.00B
  2021-06-30 |                                               |  236.45B
  2021-09-30 |                                               |  302.02B
  2021-12-31 |                                               |  305.36B
  2022-03-31 |                                               |  298.69B
  2022-06-30 |                                               |  299.59B
  2022-09-30 |                                              |  288.26B
  2022-12-31 |                                              |  308.75B
  2023-03-31 |                                              |  319.34B
  2023-06-30 |                                              |  312.63B
  2023-09-30 |                                               |  333.52B
  2023-12-31 |                                             |  339.04B
  2024-03-31 |                                               |  368.88B
  2024-06-30 |                                               |  358.01B
  2024-09-30 |                                             |  374.65B
  2024-12-31 |                                               |  360.49B
  2025-03-31 |                                             |  396.93B
  2025-06-30 |                                               |  436.99B
  2025-09-30 |                                              |  414.62B
  2025-12-31 |                                              |  475.56B

               |                      |                      |                      |                       |
               -475.56B               -237.78B                 0.00B                 237.78B                 475.56B

FCF-q

Using alias: paycheck -> operatingCashflow [quarterly] [cashflow]
Using alias: capex -> capitalExpenditures [quarterly] [cashflow]


Data Completeness:
------------------------------------------------------------
  ✅ operatingCashflow                   25/25 dates (100%)
  ✅ capitalExpenditures                 25/25 dates (100%)

Plot for MS (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: operatingCashflow, capitalExpenditures

               -26.88B                -13.44B                 0.00B                 13.44B                  26.88B
               |                      |                      |                      |                       |

  2019-12-31 |                                              |  0.37B
  2020-03-31 |                                               |  23.84B
  2020-06-30 |                  |  -16.81B
  2020-09-30 |                                   |  -6.87B
  2020-12-31 |    |  -25.39B
  2021-03-31 |                                               |  26.88B
  2021-06-30 |                                               |  4.62B
  2021-09-30 |                                               |  2.13B
  2021-12-31 |                                               |  0.65B
  2022-03-31 |                                               |  0.65B
  2022-06-30 |                                               |  14.91B
  2022-09-30 |                                  |  -7.55B
  2022-12-31 |                       |  -14.00B
  2023-03-31 |                              |  -9.87B
  2023-06-30 |                              |  -9.67B
  2023-09-30 |                                               |  3.75B
  2023-12-31 |                 |  -17.75B
  2024-03-31 |                                               |  4.36B
  2024-06-30 |                                               |  2.52B
  2024-09-30 |                 |  -17.32B
  2024-12-31 |                                               |  11.80B
  2025-03-31 |      |  -23.98B
  2025-06-30 |                                               |  11.83B
  2025-09-30 |                                         |  -3.33B
  2025-12-31 |                                           |  -2.41B

               |                      |                      |                      |                       |
               -26.88B                -13.44B                 0.00B                 13.44B                  26.88B

Assets-q

Using alias: assets -> totalAssets [quarterly] [balance]
Using alias: liabil -> totalLiabilities [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ totalAssets                         25/25 dates (100%)
  ✅ totalLiabilities                    25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for MS (in T)
  reports: quarterlyReports
  showing last 25 entries
  Legend: totalAssets, totalLiabilities, totalShareholderEquity

               0.00T                  0.36T                  0.71T                  1.07T                   1.42T
               |                      |                      |                      |                       |

  2019-12-31 |  0.90T
  2020-03-31 |  0.95T
  2020-06-30 |  0.98T
  2020-09-30 |  0.96T
  2020-12-31 |  1.12T
  2021-03-31 |  1.16T
  2021-06-30 |  1.16T
  2021-09-30 |  1.19T
  2021-12-31 |  1.19T
  2022-03-31 |  1.22T
  2022-06-30 |  1.17T
  2022-09-30 |  1.16T
  2022-12-31 |  1.18T
  2023-03-31 |  1.20T
  2023-06-30 |  1.16T
  2023-09-30 |  1.17T
  2023-12-31 |  1.19T
  2024-03-31 |  1.23T
  2024-06-30 |  1.21T
  2024-09-30 |  1.26T
  2024-12-31 |  1.22T
  2025-03-31 |  1.30T
  2025-06-30 |  1.35T
  2025-09-30 |  1.36T
  2025-12-31 |  1.42T

               |                      |                      |                      |                       |
               0.00T                  0.36T                  0.71T                  1.07T                   1.42T

Buffet-q

Using alias: income -> netIncome [quarterly] [income]
Using alias: debt -> shortLongTermDebtTotal [quarterly] [balance]
Using alias: equity -> totalShareholderEquity [quarterly] [balance]


Data Completeness:
------------------------------------------------------------
  ✅ netIncome                           25/25 dates (100%)
  ✅ shortLongTermDebtTotal              25/25 dates (100%)
  ✅ totalShareholderEquity              25/25 dates (100%)

Plot for MS (in B)
  reports: quarterlyReports
  showing last 25 entries
  Legend: netIncome, shortLongTermDebtTotal, totalShareholderEquity

               0.00B                 118.89B                237.78B                356.67B                 475.56B
               |                      |                      |                      |                       |

  2019-12-31 |  261.52B
  2020-03-31 |  253.73B
  2020-06-30 |  269.97B
  2020-09-30 |  258.68B
  2020-12-31 |  283.53B
  2021-03-31 |  228.00B
  2021-06-30 |  236.45B
  2021-09-30 |  302.02B
  2021-12-31 |  305.36B
  2022-03-31 |  298.69B
  2022-06-30 |  299.59B
  2022-09-30 |  288.26B
  2022-12-31 |  308.75B
  2023-03-31 |  319.34B
  2023-06-30 |  312.63B
  2023-09-30 |  333.52B
  2023-12-31 |  339.04B
  2024-03-31 |  368.88B
  2024-06-30 |  358.01B
  2024-09-30 |  374.65B
  2024-12-31 |  360.49B
  2025-03-31 |  396.93B
  2025-06-30 |  436.99B
  2025-09-30 |  414.62B
  2025-12-31 |  475.56B

               |                      |                      |                      |                       |
               0.00B                 118.89B                237.78B                356.67B                 475.56B

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