MS
Morgan Stanley
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Morgan Stanley.
Coverage
Morgan Stanley Crossed $10T. Half the Record $148B Came From Its Clients' IPOs.
Morgan Stanley crossed $10.1T of client assets on record revenue and an EPS beat — and disclosed that half the record $148.1B of net new assets came from IPOs.
Morgan Stanley Needs a $787 Billion Quarter to Reach $10 Trillion. It Added $1 Trillion in the Last Four.
Morgan Stanley reports July 15 with $9.21T of client assets; the $10T mark needs 8.5% growth in a quarter. The consensus EPS fall is calendar, not a downgrade.
Where the revenue goes next
Latest: $21.35B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $15.14B |
| 2024Q2 | $14.94B |
| 2024Q3 | $15.30B |
| 2024Q4 | $16.11B |
| 2025Q1 | $17.60B |
| 2025Q2 | $16.60B |
| 2025Q3 | $18.22B |
| 2025Q4 | $17.87B |
| 2026Q1 | $20.58B |
| 2026Q2 | $21.35B |
Latest: $3.46 (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $2.02 |
| 2024Q2 | $1.82 |
| 2024Q3 | $1.88 |
| 2024Q4 | $2.22 |
| 2025Q1 | $2.60 |
| 2025Q2 | $2.13 |
| 2025Q3 | $2.80 |
| 2025Q4 | $2.68 |
| 2026Q1 | $3.43 |
| 2026Q2 | $3.46 |
Latest: 16.9 (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | 17.2 |
| 2024Q2 | 16.0 |
| 2024Q3 | 15.9 |
| 2024Q4 | 15.8 |
| 2025Q1 | 13.7 |
| 2025Q2 | 16.0 |
| 2025Q3 | 16.3 |
| 2025Q4 | 17.4 |
| 2026Q1 | 14.9 |
| 2026Q2 | 16.9 |
Latest: -$3.57B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $3.54B |
| 2024Q2 | $1.67B |
| 2024Q3 | -$18.24B |
| 2024Q4 | $10.92B |
| 2025Q1 | -$24.69B |
| 2025Q2 | $11.07B |
| 2025Q3 | -$4.04B |
| 2025Q4 | -$3.12B |
| 2026Q1 | -$7.85B |
| 2026Q2 | -$3.57B |
Latest: 1.57B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | 1.62B |
| 2024Q2 | 1.61B |
| 2024Q3 | 1.61B |
| 2024Q4 | 1.61B |
| 2025Q1 | 1.60B |
| 2025Q2 | 1.59B |
| 2025Q3 | 1.59B |
| 2025Q4 | 1.59B |
| 2026Q1 | 1.58B |
| 2026Q2 | 1.57B |
Latest: -$34.30B (2026Q2)
| Period | Value |
|---|---|
| 2024Q1 | $3.54B |
| 2024Q2 | $5.22B |
| 2024Q3 | -$13.02B |
| 2024Q4 | -$2.10B |
| 2025Q1 | -$26.79B |
| 2025Q2 | -$15.72B |
| 2025Q3 | -$19.77B |
| 2025Q4 | -$22.89B |
| 2026Q1 | -$30.74B |
| 2026Q2 | -$34.30B |
Latest earnings
Company History
Spun off from J.P. Morgan to focus on investment banking under Glass-Steagall; establishes elite underwriting reputation.
Pioneers modern M&A advisory; handles landmark deals, shifting narrative to strategic advisor for corporations.
Combines investment banking with retail brokerage/credit cards; creates diversified model and sets stage for wealth management scale.
Converts to bank holding company for stability; acquires Smith Barney from Citi; navigates crisis with government support.
Gains full control of wealth management joint venture; builds leading wealth franchise, diversifying revenue beyond volatile IB.
$13B deal adds digital brokerage platform; accelerates retail investor access and boosts wealth management assets.
$7B purchase expands asset/wealth management; enhances investment capabilities, reinforcing 'integrated firm' strategy.
Record $70.6B revenue, strong IB rebound, wealth dominance; CEO Ted Pick leads resilient, diversified powerhouse.
Key Players
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Funds we follow holding MS
By latest reported 13F position value. Market value at quarter-end, not cost basis.
