MORGAN STANLEY
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $70.65B | $61.76B | $54.14B | $53.67B | $59.76B | $48.76B | $41.54B | $40.11B |
| Cost of Revenue | — | — | — | — | — | — | — | — |
| Gross Profit | — | — | — | — | — | — | — | — |
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | — | — | — | — | — | — | — | — |
| Operating Income | $21.95B | $17.60B | $53.86B | $26.36B | $21.03B | $18.27B | $23.71B | $21.32B |
| Operating Margin | 31.1% | 28.5% | 99.5% | 49.1% | 35.2% | 37.5% | 57.1% | 53.2% |
| Interest Expense | — | — | $42.05B | $12.27B | $1.37B | $3.85B | $12.40B | $10.09B |
| Pretax Income | $21.95B | $17.60B | $11.81B | $14.09B | $19.67B | $14.42B | $11.30B | $11.24B |
| Income Tax Expense | $4.93B | $4.07B | $2.58B | $2.91B | $4.55B | $3.24B | $2.06B | $2.35B |
| Net Income | $16.86B | $13.39B | $9.09B | $11.03B | $15.03B | $11.00B | $9.04B | $8.75B |
| Net Margin | 23.9% | 21.7% | 16.8% | 20.6% | 25.2% | 22.6% | 21.8% | 21.8% |
| EPS (Basic) | $10.32 | $8.04 | $5.24 | $6.23 | $8.16 | $6.55 | $5.26 | $4.81 |
| EPS (Diluted) | $10.21 | $7.95 | $5.18 | $6.15 | $8.03 | $6.46 | $5.19 | $4.73 |
| Shares Outstanding (Basic) | 1.57B | 1.59B | 1.63B | 1.69B | 1.79B | 1.60B | 1.62B | 1.71B |
| Shares Outstanding (Diluted) | 1.59B | 1.61B | 1.65B | 1.71B | 1.81B | 1.62B | 1.64B | 1.74B |
| Dividends Per Share | $3.85 | $3.55 | $3.25 | $2.95 | $2.10 | $1.40 | $1.30 | $1.10 |