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Morgan Stanley (MS) Revenue & Revenue Breakdown

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Morgan Stanley Revenue Highlights

Latest Revenue (Y)

$116.11B

Latest Revenue (Q)

$33.15B

Main Segment (Y)

Institutional Securities Segment

Main Geography (Y)

Americas

Morgan Stanley Revenue by Period

Morgan Stanley Revenue by Year

DateRevenueChange
2025-12-31$116.11B12.57%
2024-12-31$103.14B16.83%
2023-12-31$88.29B41.31%
2022-12-31$62.48B8.13%
2021-12-31$57.78B16.31%
2020-12-31$49.68B-3.44%
2019-12-31$51.45B7.63%
2018-12-31$47.80B15.04%
2017-12-31$41.55B15.32%
2016-12-31$36.03B0.07%
2015-12-31$36.01B-0.39%
2014-12-31$36.15B2.65%
2013-12-31$35.21B15.30%
2012-12-31$30.54B-18.51%
2011-12-31$37.48B4.78%
2010-12-31$35.77B26.45%
2009-12-31$28.29B-47.55%
2008-11-30$53.92B-34.45%
2007-11-30$82.27B18.56%
2006-11-30$69.39B50.01%
2005-11-30$46.26B20.44%
2004-11-30$38.41B9.95%
2003-11-30$34.93B7.77%
2002-11-30$32.41B-26.12%
2001-11-30$43.87B-2.73%
2000-11-30$45.11B30.41%
1999-11-30$34.59B11.10%
1998-11-30$31.13B14.74%
1997-11-30$27.13B200.51%
1996-12-31$9.03B40.64%
1995-12-31$6.42B15.58%
1994-12-31$5.55B10.94%
1993-12-31$5.01B-

Morgan Stanley generated $116.11B in revenue during NA 2025, up 12.57% compared to the previous quarter, and up 233.73% compared to the same period a year ago.

Morgan Stanley Revenue by Quarter

DateRevenueChange
2026-03-31$33.15B14.86%
2025-12-31$28.86B-3.95%
2025-09-30$30.05B6.70%
2025-06-30$28.16B0.90%
2025-03-31$27.91B7.43%
2024-12-31$25.98B-1.31%
2024-09-30$26.33B3.30%
2024-06-30$25.49B0.54%
2024-03-31$25.35B4.78%
2023-12-31$24.19B7.20%
2023-09-30$22.57B5.04%
2023-06-30$21.48B1.01%
2023-03-31$21.27B13.07%
2022-12-31$18.81B19.59%
2022-09-30$15.73B15.80%
2022-06-30$13.58B-5.36%
2022-03-31$14.35B2.27%
2021-12-31$14.04B-1.27%
2021-09-30$14.22B-0.66%
2021-06-30$14.31B-5.96%
2021-03-31$15.22B14.96%
2020-12-31$13.24B14.18%
2020-09-30$11.59B-15.38%
2020-06-30$13.70B22.49%
2020-03-31$11.19B-12.22%
2019-12-31$12.74B1.72%
2019-09-30$12.53B-4.31%
2019-06-30$13.09B0.94%
2019-03-31$12.97B17.13%
2018-12-31$11.07B18.89%
2018-09-30$9.31B-6.88%
2018-06-30$10.00B-1.00%
2018-03-31$10.10B6.34%
2017-12-31$9.50B3.29%
2017-09-30$9.20B-3.22%
2017-06-30$9.50B2.89%
2017-03-31$9.24B8.14%
2016-12-31$8.54B1.46%
2016-09-30$8.42B-0.08%
2016-06-30$8.43B14.99%
2016-03-31$7.33B0.63%
2015-12-31$7.28B-0.01%
2015-09-30$7.28B-21.33%
2015-06-30$9.26B-1.99%
2015-03-31$9.44B29.44%
2014-12-31$7.30B-13.86%
2014-09-30$8.47B3.93%
2014-06-30$8.15B-3.96%
2014-03-31$8.49B14.47%
2013-12-31$7.41B-1.37%
2013-09-30$7.52B-6.60%
2013-06-30$8.05B4.10%
2013-03-31$7.73B48.14%
2012-12-31$5.22B-1.34%
2012-09-30$5.29B-23.93%
2012-06-30$6.95B0.26%
2012-03-31$6.93B81.69%
2011-12-31$3.82B-61.41%
2011-09-30$9.89B6.57%
2011-06-30$9.28B21.57%
2011-03-31$7.63B30.65%
2010-12-31$5.84B-13.79%
2010-09-30$6.78B-14.73%
2010-06-30$7.95B-12.43%
2010-03-31$9.08B95.44%
2009-12-31$4.64B-46.46%
2009-09-30$8.68B60.32%
2009-06-30$5.41B77.88%
2009-03-31$3.04B-207.68%
2008-11-30$-2.83B-135.06%
2008-08-31$8.06B23.40%
2008-05-31$6.53B-21.55%
2008-02-29$8.32B-1949.33%
2007-11-30$-450.00M-

Morgan Stanley generated $33.15B in revenue during Q1 2026, up 14.86% compared to the previous quarter, and up 127.59% compared to the same period a year ago.

Morgan Stanley Revenue Breakdown

Morgan Stanley Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 25Dec 24Dec 23Dec 22Dec 21
Wealth Management Segment$31.75B$28.42B$26.27B--
Investment Management Segment$6.53B$5.86B$5.37B--
Institutional Securities Segment$33.08B$28.08B$23.06B$24.39B$29.83B

Morgan Stanley's latest annual revenue breakdown by segment (product or service), as of Dec 25: Institutional Securities Segment (46.36%), Wealth Management Segment (44.50%), and Investment Management Segment (9.14%).

Quarterly Revenue by Product

Product/ServiceDec 25Sep 25Jun 25Mar 25Dec 24Sep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
Investment Management Segment$1.72B$1.65B$1.55B$1.60B$3.03B$1.46B$1.38B$1.46B$1.34B-----------
Wealth Management Segment$8.43B$8.23B$7.76B$7.33B$14.27B$7.27B$6.88B$6.64B$6.40B-----------
Institutional Securities Segment$7.93B$8.52B$7.64B$8.98B$14.25B$6.82B$7.02B$4.94B$5.67B$5.65B$6.80B$4.80B$5.82B$6.12B$7.66B$6.67B$7.50B$7.09B$8.58B$7.00B

Morgan Stanley's latest quarterly revenue breakdown by segment (product or service), as of Dec 25: Wealth Management Segment (46.62%), Institutional Securities Segment (43.87%), and Investment Management Segment (9.51%).

Morgan Stanley Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 25Dec 24Dec 23Dec 22Dec 21
Asia$9.42B$7.63B$6.43B$6.74B$7.45B
Americas$52.90B$46.93B$41.65B$40.12B$44.60B
EMEA$8.33B$7.20B$6.06B$6.81B$7.70B

Morgan Stanley's latest annual revenue breakdown by geography, as of Dec 25: Americas (74.88%), Asia (13.33%), and EMEA (11.79%).

Quarterly Revenue by Country

CountryDec 25Sep 25Jun 25Mar 25Dec 24Sep 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
Americas$13.78B$13.66B$12.35B$13.10B$23.80B$11.56B$11.57B$10.20B$10.27B$10.39B$10.79B$9.90B$10.09B$9.66B$10.46B$11.27B$11.26B$10.88B$11.19B$10.22B
EMEA$1.96B$1.94B$2.14B$2.29B$3.54B$1.83B$1.83B$1.34B$1.48B$1.50B$1.74B$1.43B$1.39B$1.68B$2.31B$1.70B$1.75B$2.09B$2.16B$1.76B
Asia$2.15B$2.62B$2.30B$2.35B$3.89B$2.00B$1.74B$1.36B$1.53B$1.56B$1.99B$1.42B$1.50B$1.79B$2.03B$1.55B$1.75B$1.78B$2.37B$1.66B

Morgan Stanley's latest quarterly revenue breakdown by geography, as of Dec 25: Americas (77.05%), Asia (12.02%), and EMEA (10.93%).

Morgan Stanley Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
GSGoldman Sachs Group$125.10B$17.23B
MSMorgan Stanley$116.11B$33.15B
SFStifel Financial$6.30B$1.67B
EVREvercore$3.88B$1.05B
LAZLazard$3.19B$779.40M
PJTPJT Partners$1.71B$418.20M
MCMoelis$1.52B$356.89M
MARAMarathon Digital$907.09M$174.61M
CLSKCleanSpark$766.31M$136.41M
RIOTRiot Platforms$647.43M$167.22M
HUTHut 8$235.12M$83.51M
BITFBitfarms$229.28M$36.99M
APLDApplied Digital$144.19M$161.76M
BTBTBit Digital$113.56M$27.92M
MEGLMagic Empire Global$13.79M$7.71M
TOPTOP Financial Group$9.70M$3.57M
NCPLNetcapital$4.95M$94.35K

MS Revenue FAQ

What is Morgan Stanley’s yearly revenue?

Morgan Stanley's yearly revenue for 2025 was $116.11B, representing an increase of 12.57% compared to 2024. The company's yearly revenue for 2024 was $103.14B, representing an increase of 16.83% compared to 2023. MS's yearly revenue for 2023 was $88.29B, representing an increase of 41.31% compared to 2022.

What is Morgan Stanley’s quarterly revenue?

Morgan Stanley's quarterly revenue for Q1 2026 was $33.15B, a 14.86% increase from the previous quarter (Q4 2025), and a 18.77% increase year-over-year (Q1 2025). The company's quarterly revenue for Q4 2025 was $28.86B, a -3.95% decrease from the previous quarter (Q3 2025), and a 11.08% increase year-over-year (Q4 2024). MS's quarterly revenue for Q3 2025 was $30.05B, a 6.70% increase from the previous quarter (Q2 2025), and a 14.13% increase year-over-year (Q3 2024).

What is Morgan Stanley’s revenue growth rate?

Morgan Stanley's revenue growth rate for the last 3 years (2023-2025) was 31.52%, and for the last 5 years (2021-2025) was 100.95%.

What are Morgan Stanley’s revenue streams?

Morgan Stanley's revenue streams in c 25 are Wealth Management Segment, Investment Management Segment, and Institutional Securities Segment. Wealth Management Segment generated $31.75B in revenue, accounting 44.50% of the company's total revenue, up 11.73% year-over-year. Investment Management Segment generated $6.52B in revenue, accounting 9.14% of the company's total revenue, up 11.33% year-over-year. Institutional Securities Segment generated $33.08B in revenue, accounting 46.36% of the company's total revenue, up 17.81% year-over-year.

What is Morgan Stanley’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Morgan Stanley was Institutional Securities Segment. This segment made a revenue of $33.08B, representing 46.36% of the company's total revenue.