Morgan Stanley revenue by year
Over the 10 fiscal years shown, revenue went from $34.63B (year ended Dec 31, 2016) to $70.64B (year ended Dec 31, 2025), a compound annual growth rate of 8.2%. The fastest growth was +22.6% in the year ended Dec 31, 2021; the weakest year was −10.2% (year ended Dec 31, 2022).
Annual revenue
| Fiscal year ended | Revenue (USD) | Change | XBRL concept | Reported in |
|---|---|---|---|---|
| Dec 31, 2025 | $70.64B | +14.4% | RevenuesNetOfInterestExpense | 10-K filed Feb 19, 2026 |
| Dec 31, 2024 | $61.76B | +14.1% | RevenuesNetOfInterestExpense | 10-K filed Feb 19, 2026 |
| Dec 31, 2023 | $54.14B | +0.9% | RevenuesNetOfInterestExpense | 10-K filed Feb 19, 2026 |
| Dec 31, 2022 | $53.67B | −10.2% | RevenuesNetOfInterestExpense | 10-K filed Feb 21, 2025 |
| Dec 31, 2021 | $59.76B | +22.6% | RevenuesNetOfInterestExpense | 10-K filed Feb 22, 2024 |
| Dec 31, 2020 | $48.76B | +17.4% | RevenuesNetOfInterestExpense | 10-K filed Feb 24, 2023 |
| Dec 31, 2019 | $41.54B | +3.6% | RevenuesNetOfInterestExpense | 10-K filed Feb 24, 2022 |
| Dec 31, 2018 | $40.11B | +5.7% | RevenuesNetOfInterestExpense | 10-K filed Feb 26, 2021 |
| Dec 31, 2017 | $37.95B | +9.6% | RevenuesNetOfInterestExpense | 10-K filed Feb 27, 2020 |
| Dec 31, 2016 | $34.63B | −1.5% | RevenuesNetOfInterestExpense | 10-K filed Feb 26, 2019 |
Quarterly revenue
Quarters reported in 10-Q filings. Fourth quarters are usually reported only inside the annual 10-K, so they are not listed separately here; we do not estimate them.
| Quarter | Revenue (USD) | vs same quarter a year earlier | Source |
|---|---|---|---|
| 3 months ended Jun 30, 2026 | $21.35B | +27.1% | 10-Q filed Aug 4, 2026 |
| 3 months ended Mar 31, 2026 | $20.58B | +16.0% | 10-Q filed May 5, 2026 |
| 3 months ended Sep 30, 2025 | $18.22B | +18.5% | 10-Q filed Nov 3, 2025 |
| 3 months ended Jun 30, 2025 | $16.79B | +11.8% | 10-Q filed Aug 4, 2026 |
| 3 months ended Mar 31, 2025 | $17.74B | +17.2% | 10-Q filed May 5, 2026 |
| 3 months ended Sep 30, 2024 | $15.38B | +15.9% | 10-Q filed Nov 3, 2025 |
| 3 months ended Jun 30, 2024 | $15.02B | +11.6% | 10-Q filed Aug 4, 2025 |
| 3 months ended Mar 31, 2024 | $15.14B | +4.3% | 10-Q filed May 5, 2025 |
Source: SEC EDGAR XBRL company facts for CIK 895421 (raw data). Most recent filing in this dataset: 10-Q filed Aug 4, 2026. SEC data file dated Nov 3, 2026; page built Nov 5, 2026. Figures are as most recently reported, including restatements. How we select figures.