MORGAN STANLEY (MS) FY2025 Annual P&L / Income Statement

MORGAN STANLEY (MS) FY2025 Annual P&L / Income Statement

Income statement for 2025-01-01 through 2025-12-31. View: Business segment. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

Net revenues

70,645,000,000 US dollars

Operating expenses (calculated)

48,691,000,000 US dollars

Operating profit (calculated)

21,954,000,000 US dollars

Other income (expense), net (calculated)

0 US dollars

Income before provision for income taxes

21,954,000,000 US dollars

Provision for income taxes

4,929,000,000 US dollars

Net income

17,025,000,000 US dollars

Institutional Securities Segment

33,080,000,000 US dollars

Wealth Management Segment

31,754,000,000 US dollars

Investment Management Segment

6,525,000,000 US dollars

Total non-interest expenses

48,342,000,000 US dollars

Provision for credit losses

349,000,000 US dollars

Revenue before reconciliation (calculated)

71,359,000,000 US dollars. Sum of the reported revenue categories before the separately reported reconciliation.

Intersegment Eliminations

negative 714,000,000 US dollars. Reported reconciliation to consolidated revenue.

Chart connections

• Revenue minus operating expenses equals operating income.
• Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.
• Reported revenue categories plus the separately reported signed reconciliation equals consolidated revenue.
• Of which attributable to MORGAN STANLEY: $16.86 B; to noncontrolling interests: $164.00 M.