← MORGAN STANLEY

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenues:
Operating expenses:
Additional Financial Items
Interest Income, Operating — $1.3b $1.7b $2.2b $2.3b $2.8b $3.1b $4.0b $5.2b $5.3b
Amortization of Intangible Assets $291.0m $309.0m $344.0m $314.0m $373.0m $612.0m $610.0m $601.0m $602.0m $454.0m
Depreciation, Depletion and Amortization, Nonproduction $1.7b $1.8b $1.8b $2.6b $3.8b $4.2b $4.0b $4.3b $5.2b $4.7b
Goodwill, Impairment Loss — — — — — — $0 $0 $0 $0
Income (Loss) from Continuing Operations before Income Taxes, Domestic $5.7b $5.7b — — — — — — — —
Income (Loss) from Continuing Operations, Per Basic Share $3 $3 $5 $5 — — — — — —
Income (Loss) from Continuing Operations, Per Diluted Share $3 $3 $5 $5 — — — — — —
Income (Loss) from Equity Method Investments ($79.0m) ($34.0m) $20.0m — — — — — — —
Interest Income, Other — $2.2b $3.5b $3.8b $1.5b $1.6b $5.8b $13.0b $8.4b $9.8b
Other Interest and Dividend Income $1.2b — — — — — — — — —
Preferred Stock Dividends, Income Statement Impact $471 $523 $526 $530 $496 $468 $489 $557 $590 $612
Investment banking $4.9b $6.0b $6.5b $6.2b $7.7b $11.0b $5.6b $4.9b $6.7b $8.2b
Trading $10.2b $11.1b $11.6b $11.1b $14.0b $12.8b $13.9b $15.3b $16.8b $18.6b
Investments $160.0m $820.0m $437.0m $1.5b $986.0m $1.4b $15.0m $573.0m $824.0m $1.4b
Commissions and fees $4.1b $4.1b $4.2b $3.9b $4.9b $5.5b $4.9b $4.5b $5.1b $5.9b
Asset management $10.7b $11.8b $12.9b $13.1b $14.3b $20.0b $19.6b $19.6b $22.5b $25.1b
Other $2.2b $2.4b $2.5b $2.4b $3.3b $3.7b $3.6b $4.1b $3.7b $4.1b
Interest income $7.0b $9.0b $13.9b $17.1b $10.2b $9.4b $21.6b $50.3b $54.1b $59.1b
Net interest $3.7b $3.3b $3.8b $4.7b $6.3b $8.0b $9.3b $8.2b $8.6b $10.0b
Provision for credit losses — — — $161.0m $761.0m $4.0m $280.0m $532.0m $264.0m $349.0m
Compensation and benefits $15.9b $17.2b $17.6b $18.8b $20.9b $24.6b $23.1b $24.6b $26.2b $29.2b
Brokerage, clearing and exchange fees $1.9b $2.1b $2.4b $2.5b $2.9b $3.3b $3.5b $3.5b $4.1b $4.7b
Information processing and communications $1.8b $1.8b $2.0b $2.2b $2.5b $3.1b $3.5b $3.8b $4.1b $4.4b
Professional services $2.1b $2.2b $2.3b $2.1b $2.2b $2.9b $3.1b $3.1b $2.9b $2.8b
Occupancy and equipment $1.3b $1.3b $1.4b $1.4b $1.6b $1.7b $1.7b $1.9b $1.9b $1.9b
Marketing and business development $587.0m $609.0m $691.0m $660.0m $434.0m $643.0m $905.0m $898.0m $965.0m $1.2b
Provision for income taxes $2.7b $4.2b $2.4b $2.1b $3.2b $4.5b $2.9b $2.6b $4.1b $4.9b
Preferred stock dividends $471 $523 $526 $530 $496 $468 $489 $557 $590 $612
Earnings applicable to Morgan Stanley common shareholders $5.5b $5.6b $8.2b $8.5b $10.5b $14.6b $10.5b $8.5b $12.8b $16.2b
Basic (in shares) $1.8b $1.8b $1.7b $1.6b $1.6b $1.8b $1.7b $1.6b $1.6b $1.6b
Diluted (in shares) $1.9b $1.8b $1.7b $1.6b $1.6b $1.8b $1.7b $1.6b $1.6b $1.6b
Total non-interest revenues $30.9b $34.6b $36.3b $36.7b $41.9b $51.7b $44.3b $45.9b $53.1b $60.6b
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $8.8b $10.4b $11.2b $11.3b $14.4b $19.7b $14.1b $11.8b $17.6b $22.0b
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $6.1b $6.2b $8.9b $9.2b $11.2b — — — — —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $1.0m ($19.0m) ($4.0m) $0 $0 — — — — —
Income before provision for income taxes $8.8b $10.4b $11.2b $11.3b $14.4b $19.7b $14.1b $11.8b $17.6b $22.0b
Net income applicable to Morgan Stanley $6.0b $6.1b $8.7b $9.0b $11.0b $15.0b $11.0b $9.1b $13.4b $16.9b
Net Income (Loss) Attributable to Parent $6.0b $6.1b $8.7b $9.0b $11.0b $15.0b $11.0b $9.1b $13.4b $16.9b
Net Income (Loss) Available to Common Stockholders, Basic $5.5b $5.6b $8.2b $8.5b $10.5b $14.6b $10.5b $8.5b $12.8b $16.2b
Net income applicable to noncontrolling interests $144.0m $105.0m $135.0m $195.0m $183.0m $86.0m $150.0m $143.0m $139.0m $164.0m
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest $144.0m $105.0m $135.0m $195.0m $183.0m $86.0m $150.0m $143.0m $139.0m $164.0m
Earnings Per Share, Basic $2.98 $3.14 $4.81 $5.26 $6.55 $8.16 $6.23 $5.24 $8.04 $10.32
Earnings Per Share, Diluted $2.92 $3.07 $4.73 $5.19 $6.46 $8.03 $6.15 $5.18 $7.95 $10.21
Common Stock, Dividends, Per Share, Declared $0.70 $0.90 $1.10 $1.30 $1.40 $2.10 $2.95 $3.25 $3.55 $3.85
Weighted Average Number of Shares Outstanding, Basic 1.8b 1.8b 1.7b 1.6b 1.6b 1.8b 1.7b 1.6b 1.6b 1.6b
Weighted Average Number of Shares Outstanding, Diluted 1.9b 1.8b 1.7b 1.6b 1.6b 1.8b 1.7b 1.6b 1.6b 1.6b
Labor and Related Expense $15.9b $17.2b $17.6b $18.8b $20.9b $24.6b $23.1b $24.6b $26.2b $29.2b
Financing Receivable Excluding Accrued Interest Credit Loss Expense Reversal — — — — — — $216.0m $488.0m $146.0m $230.0m
Marketing and Advertising Expense $587.0m $609.0m $691.0m $660.0m $434.0m $643.0m $905.0m $898.0m $965.0m $1.2b
Interest Expense $3.3b $5.7b $10.1b $12.4b $3.8b $1.4b $12.3b $42.1b $45.5b $49.0b
Interest Expense Operating — — — — — — — — $45.5b $49.0b
Interest Expense, Securities Sold under Agreements to Repurchase $977.0m — — — — $93.0m $1.8b $6.7b $10.8b $12.9b
Current Income Tax Expense (Benefit) $1.1b $1.4b $1.9b $1.9b $3.5b $4.5b $3.8b $3.0b $3.9b $4.4b
Interest Income (Expense), Net $3.7b $3.3b $3.8b $4.7b $6.3b $8.0b $9.3b $8.2b $8.6b $10.0b
Interest Income (Expense), Nonoperating, Net ($28.0m) $3.0m $40.0m ($8.0m) ($56.0m) ($14.0m) ($39.0m) ($65.0m) ($92.0m) ($109.0m)
Total non-interest expenses $25.8b $27.5b $28.9b $30.1b $33.8b $40.1b $39.3b $41.8b $43.9b $48.3b
Income Tax Expense (Benefit) $2.7b $4.2b $2.4b $2.1b $3.2b $4.5b $2.9b $2.6b $4.1b $4.9b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.