MORGAN STANLEY (MS) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2026-01-01 to 2026-03-31

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MORGAN STANLEY cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Read chart description and values below for full signed amounts, including zero items.Proceeds from issuance of Borrowings → financing reconciliation: $56,195,000,000.00Deposits → financing reconciliation: $12,751,000,000.00Other financing activities → financing reconciliation: $164,000,000.00financing reconciliation → Net cash from financing activities: $36,460,000,000.00financing reconciliation → Borrowings: $27,561,000,000.00financing reconciliation → Repurchases of common stock and employee tax withholdings: $2,875,000,000.00financing reconciliation → Cash dividends: $1,708,000,000.00financing reconciliation → Other secured financings: $506,000,000.00Proceeds from paydowns and maturities → investing reconciliation: $6,023,000,000.00Proceeds from sales → investing reconciliation: $5,856,000,000.00Proceeds from paydowns and maturities → investing reconciliation: $3,689,000,000.00investing reconciliation → Purchases: $11,653,000,000.00investing reconciliation → Changes in loans, net: $8,449,000,000.00investing reconciliation → Purchases: $999,000,000.00investing reconciliation → Other assets—Premises, equipment and software: $754,000,000.00investing reconciliation → Other investing activities: $313,000,000.00Net cash used in operating activities → operating reconciliation: $7,098,000,000.00Net income → operating reconciliation: $5,638,000,000.00Securities sold under agreements to repurchase → operating reconciliation: $41,292,000,000.00Customer and other payables and other liabilities → operating reconciliation: $31,739,000,000.00Securities loaned → operating reconciliation: $2,279,000,000.00Depreciation and amortization → operating reconciliation: $714,000,000.00Stock-based compensation expense → operating reconciliation: $571,000,000.00Provision for credit losses → operating reconciliation: $98,000,000.00Other operating adjustments → operating reconciliation: $74,000,000.00operating reconciliation → Trading assets, net of Trading liabilities: $53,593,000,000.00operating reconciliation → Customer and other receivables and other assets: $24,611,000,000.00operating reconciliation → Securities purchased under agreements to resell: $8,637,000,000.00operating reconciliation → Securities borrowed: $2,662,000,000.00Net cash used in investing activities → investing reconciliation: $6,600,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $111,695,000,000.00Net cash from financing activities → Cash sources and uses: $36,460,000,000.00Cash sources and uses → Exchange-rate effect: $928,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $133,529,000,000.00Cash sources and uses → Net cash used in investing activities: $6,600,000,000.00Cash sources and uses → Net cash used in operating activities: $7,098,000,000.00Net income: $5,638,000,000.00Net income+$5.64 BStock-based compensation expense: $571,000,000.00Stock-based compensation+$571.00 MDepreciation and amortization: $714,000,000.00Depreciation & amortization+$714.00 MProvision for credit losses: $98,000,000.00Provision for credit losses+$98.00 MOther operating adjustments: $74,000,000.00Other non-cash items+$74.00 MTrading assets, net of Trading liabilities: -$53,593,000,000.00Trading assets, net−$53.59 BSecurities borrowed: -$2,662,000,000.00Securities borrowed−$2.66 BSecurities loaned: $2,279,000,000.00Securities loaned+$2.28 BCustomer and other receivables and other assets: -$24,611,000,000.00Receivables, net−$24.61 BCustomer and other payables and other liabilities: $31,739,000,000.00Accounts payable+$31.74 BSecurities purchased under agreements to resell: -$8,637,000,000.00Resale agreement purchases−$8.64 BSecurities sold under agreements to repurchase: $41,292,000,000.00Repurchase agreements+$41.29 BNet cash used in operating activities: -$7,098,000,000.00. Cash required to fund net payments.Operating cash−$7.10 Boperating reconciliation: $89,503,000,000.00Other secured financings: -$506,000,000.00Other secured financings−$506.00 MDeposits: $12,751,000,000.00Deposits, net+$12.75 BProceeds from issuance of Borrowings: $56,195,000,000.00Debt issued+$56.20 BBorrowings: -$27,561,000,000.00Debt repaid−$27.56 BRepurchases of common stock and employee tax withholdings: -$2,875,000,000.00Repurchases & tax withholdings−$2.88 BCash dividends: -$1,708,000,000.00Dividends paid−$1.71 BOther financing activities: $164,000,000.00Other financing, net+$164.00 MNet cash from financing activities: $36,460,000,000.00Financing cash+$36.46 Bfinancing reconciliation: $69,110,000,000.00Purchases: -$999,000,000.00HTM securities purchases−$999.00 MOther investing activities: -$313,000,000.00Other investing, net−$313.00 MProceeds from paydowns and maturities: $3,689,000,000.00HTM securities maturities+$3.69 BChanges in loans, net: -$8,449,000,000.00Changes in loans, net−$8.45 BProceeds from paydowns and maturities: $6,023,000,000.00AFS securities maturities+$6.02 BOther assets—Premises, equipment and software: -$754,000,000.00Capital spending, net−$754.00 MPurchases: -$11,653,000,000.00AFS securities purchases−$11.65 BProceeds from sales: $5,856,000,000.00AFS securities sales+$5.86 BNet cash used in investing activities: -$6,600,000,000.00. Cash required to fund net payments.Investing cash−$6.60 Binvesting reconciliation: $22,168,000,000.00Cash sources and uses: $148,155,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $111,695,000,000.00Beginning cash$111.70 BEnding cash: Cash, cash equivalents, and restricted cash: $133,529,000,000.00Ending cash$133.53 BExchange-rate effect: -$928,000,000.00FX effect−$928.00 MCASH RECONCILIATIONFinancingflowsInvestingflowsOperatingflowsFree cash flowNot availableCash flow / Net income−1.26×Operating cash flow ÷ net incomeNet cash change+$21.83 BEnding cash − beginning cash
Chart details

MORGAN STANLEY cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026

Cash flows for Jan 1, 2026 through Mar 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2025
111,695,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
negative 7,098,000,000 US dollars. Net cash used.
Net income
5,638,000,000 US dollars
Stock-based compensation expense
571,000,000 US dollars
Depreciation and amortization
714,000,000 US dollars
Provision for credit losses
98,000,000 US dollars
Other operating adjustments
74,000,000 US dollars
Trading assets, net of Trading liabilities
negative 53,593,000,000 US dollars
Securities borrowed
negative 2,662,000,000 US dollars
Securities loaned
2,279,000,000 US dollars
Customer and other receivables and other assets
negative 24,611,000,000 US dollars
Customer and other payables and other liabilities
31,739,000,000 US dollars
Securities purchased under agreements to resell
negative 8,637,000,000 US dollars
Securities sold under agreements to repurchase
41,292,000,000 US dollars
Investing activities
negative 6,600,000,000 US dollars. Net cash used.
Purchases
negative 999,000,000 US dollars
Other investing activities
negative 313,000,000 US dollars
Proceeds from paydowns and maturities
3,689,000,000 US dollars
Changes in loans, net
negative 8,449,000,000 US dollars
Proceeds from paydowns and maturities
6,023,000,000 US dollars
Other assets—Premises, equipment and software
negative 754,000,000 US dollars
Purchases
negative 11,653,000,000 US dollars
Proceeds from sales
5,856,000,000 US dollars
Financing activities
36,460,000,000 US dollars. Net cash provided.
Other secured financings
negative 506,000,000 US dollars
Deposits
12,751,000,000 US dollars
Proceeds from issuance of Borrowings
56,195,000,000 US dollars
Borrowings
negative 27,561,000,000 US dollars
Repurchases of common stock and employee tax withholdings
negative 2,875,000,000 US dollars
Cash dividends
negative 1,708,000,000 US dollars
Other financing activities
164,000,000 US dollars
Operating adjustment reconciliation
89,503,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
69,110,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
22,168,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 928,000,000 US dollars
Ending cash on Mar 31, 2026
133,529,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
148,155,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
21,834,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
−1.26×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income or operating cash is negative. The full signed reconciliation is retained: losses remain deductions, and any negative operating-cash total enters the junction from the cash pool. No positive direct-income connection is implied.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
MORGAN STANLEY (MS) FY2026 Q1 Statement of Cash Flows Sankey chart
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