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MORGAN STANLEY

LISTEDNYSE

SYMBOLMS

SIC6211

STATE OF INC.DE

FISCAL YEAR ENDSDecember 31

CIK895421

SECURITY BROKERS, DEALERS & FLOTATION COMPANIES · LARGE ACCELERATED FILER · 10 FISCAL YEARS OF SEC XBRL DATA, 2016–2025

Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.

CAPITALIZATION 12/31/25

($ millions)	Amount	%
Total debt	341,681	75.4
Stockholders' equity	111,632	24.6
Total capitalization	453,313	100.0

1,570,566,292 shares outstanding at 31 July 2026 (cover page of the 10-Q filed 4 August 2026).

LONG-TERM DEBT 12/31/25

($ millions)	Amount
Long-term debt, incl. current maturities	341,681

CAPITAL STOCK 12/31/25

Common shares authorized	3,500,000,000
Common shares issued	2,038,893,979
Treasury shares	456,059,842
Par or stated value per share ($)	0.01
Outstanding at 7/31/26	1,570,566,292

DIVIDENDS DECLARED/PAID

Fiscal year	Per share $	Payout %
2025	3.85	37.7
2024	3.55	44.7
2023	3.25	62.7
2022	2.95	48.0
2021	2.10	26.2

HISTORY AND BUSINESS

HISTORY: Incorporated in Delaware. Formerly known as MORGAN STANLEY DEAN WITTER & CO (to 12 July 2002); MORGAN STANLEY DEAN WITTER DISCOVER & CO (to 18 March 1998); DEAN WITTER DISCOVER & CO (to 8 May 1997).

BUSINESS: Classified by the SEC under Standard Industrial Classification 6211, Security Brokers, Dealers & Flotation Companies. Large accelerated filer. Principal executive office: 1585 Broadway, New York, NY 10036. Fiscal year ends December 31. Deposits at 12/31/25: $415,523 million. For a description of the business, see Item 1 of the latest 10-K.

CONSOLIDATED INCOME ACCOUNT, YEARS ENDED

($ millions)	12/31/25	12/31/24	12/31/23
Total interest income	59,063	54,135	45,849
Total interest expense	49,017	45,524	42,051
Net interest income	10,046	8,611	8,230
Noninterest income	60,599	53,150	45,913
Noninterest expense	48,342	43,901	41,798
Total net revenue	70,645	61,761	54,143
Income before income taxes	21,954	17,596	11,813
Income taxes	4,929	4,067	2,583
Net income	16,861	13,390	9,087
Earned per share, diluted ($)	10.21	7.95	5.18
Dividends per share ($)	3.85	3.55	3.25

CONSOLIDATED STATEMENT OF CONDITION

($ millions)	12/31/25	12/31/24
Cash and due from banks	4,462	4,436
Interest-bearing deposits with banks	107,233	100,950
Loans	269,852	226,900
Allowance for credit losses	1,132	1,066
Total assets	1,420,270	1,215,071
Deposits	415,523	376,007
Long-term debt	341,681	284,307
Total liabilities	1,307,618	1,109,643
Stockholders' equity	111,632	104,511

TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)

Fiscal year ended	Revenues	Oper. income	Net income	Net margin %	EPS diluted $	Div. per share $	Oper. cash flow	Total assets	Total liabilities	Total debt	Deposits	Stockholders' equity	ROE %	Debt / equity
12/31/25	70,645	–	16,861	23.9	10.21	3.85	(17,889)	1,420,270	1,307,618	341,681	415,523	111,632	15.1	3.06
12/31/24	61,761	–	13,390	21.7	7.95	3.55	1,362	1,215,071	1,109,643	284,307	376,007	104,511	12.8	2.72
12/31/23	54,143	–	9,087	16.8	5.18	3.25	(33,536)	1,193,693	1,093,711	260,544	351,804	99,038	9.2	2.63
12/31/22	53,668	–	11,029	20.6	6.15	2.95	(6,397)	1,180,231	1,079,000	233,867	356,646	100,141	11.0	2.34
12/31/21	59,755	–	15,034	25.2	8.03	2.10	33,971	1,188,140	1,081,542	227,363	347,574	105,441	14.3	2.16
12/31/20	48,757	–	10,996	22.6	6.46	1.40	(25,231)	1,115,862	1,012,713	213,388	310,782	101,781	10.8	2.10
12/31/19	41,538	–	9,042	21.8	5.19	1.30	40,773	895,429	812,732	190,060	190,356	81,549	11.1	2.33
12/31/18	40,107	–	8,748	21.8	4.73	1.10	7,305	853,531	772,125	188,117	187,820	80,246	10.9	2.34
12/31/17	37,945	–	6,111	16.1	3.07	0.90	(4,505)	851,733	773,267	191,063	159,436	77,391	7.9	2.47
12/31/16	34,631	–	5,979	17.3	2.92	0.70	5,383	814,949	737,772	165,716	155,863	76,050	7.9	2.18

Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; capital expenditure and free cash flow are not shown for banks and insurers, where they are not meaningful; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.

REGISTRANT:

MORGAN STANLEY
CIK 895421 · EIN 36-3145972

PRINCIPAL OFFICE:

1585 Broadway, New York, NY 10036
Tel.: 212-761-4000

INCORPORATED:

Delaware

INDUSTRY (SEC SIC CODE):

6211 · Security Brokers, Dealers & Flotation Companies

FILER STATUS:

Large accelerated filer

LATEST ANNUAL REPORT:

10-K for period ended 12/31/25, filed 19 February 2026

FORMER NAMES:

MORGAN STANLEY; MORGAN STANLEY; MORGAN STANLEY DEAN WITTER & CO

RECENT FILINGS (ANNUAL REPORT REFERENCES BELOW):

8/4/26	10-Q	period 6/30/26
7/15/26	8-K	period 7/15/26
6/24/26	8-K	period 6/24/26
5/15/26	8-K	period 5/14/26
5/5/26	10-Q	period 3/31/26
4/15/26	8-K	period 4/15/26
4/2/26	DEF 14A	period 5/14/26
2/19/26	10-K	period 12/31/25

Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/19/26) · 10-K FY2024 (filed 2/21/25) · 10-K FY2023 (filed 2/22/24) · 10-K FY2022 (filed 2/24/23) · 10-K FY2021 (filed 2/24/22) · 10-K FY2020 (filed 2/26/21) · 10-K FY2019 (filed 2/27/20) · 10-K FY2018 (filed 2/26/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.