MORGAN STANLEY

MS · XNYS

CIK 895421fmd_1CNFJ4X6XY9860CXBXV04RVYHSFinance, Insurance and Real Estate · Security Brokers, Dealers & Flotation CompaniesTemplate: Capital markets

Coverage: Dec 01, 2006 to Sep 30, 2026, 76 periods

Income Statement · Annual · Millions · USD
Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Investment banking revenue	4,933	6,003	6,482	6,163	7,674	10,994	5,599	4,948	6,705	8,199
Total interest income	7,016	8,997	13,892	17,098	10,162	9,411	21,595	45,849	54,135	59,063
Total revenues	34,631	37,945	40,107	41,538	48,757	59,755	53,668	54,143	61,761	70,645
Net interest income	3,698	3,300	3,806	4,694	6,313	8,045	9,327	8,230	8,611	10,046
Trading and principal transactions revenue	10,209	11,116	11,551	11,274	13,983	12,810	13,928	15,263	16,763	18,556
Provision for credit losses	131	22	(24)	120	761	4	280	532	264	349
Commissions and fees	4,109	4,061	4,190	3,919	4,851	5,521	4,938	4,537	5,094	5,936
Net interest income after provision	3,567	3,278	3,830	4,574	5,552	8,041	9,047	7,698	8,347	9,697
Asset management and advisory fees	10,697	11,797	–	–	–	–	–	–	–	–
Non-interest income	30,933	34,645	36,301	36,844	42,444	51,710	44,341	45,913	53,150	60,599
Compensation and benefits	15,878	17,166	17,632	18,837	20,854	24,628	23,053	24,558	26,178	29,216
Non-interest expense	25,783	27,542	28,870	30,076	33,578	40,083	39,299	41,798	43,901	48,342
Interest expense	3,318	5,697	10,086	12,404	3,849	1,366	12,268	37,619	45,524	49,017
Other non-operating income (expense)	–	–	–	–	–	–	–	–	–	–
Income before taxes	8,848	10,403	11,237	11,301	14,418	19,668	14,089	11,813	17,596	21,954
Income tax expense	2,726	4,168	2,350	2,064	3,239	4,548	2,910	2,583	4,067	4,929
Net income from continuing operations	6,122	6,235	8,887	9,237	11,179	15,120	11,179	9,230	13,529	17,025
Net income	5,979	6,111	8,748	9,042	10,996	15,034	11,029	9,087	13,390	16,861
Net income to common shareholders	5,508	5,588	8,222	8,512	10,500	14,566	10,540	8,530	12,800	16,249