The firm has bolstered its liquidity position significantly, with the current ratio improving to 1.61 in 2026Q1 compared to 0.72 in 2023Q4, while maintaining a disciplined debt-to-equity ratio of 3.42.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Nov'08 | Nov'07 | Nov'06 | Nov'05 | Nov'04 | Nov'03 | Nov'02 | Nov'01 | Nov'00 | Nov'99 | Nov'98 | Nov'97 | Dec'96 |
|---|
| Cash & Short Term Investments | 1.52T | 539.97B | 401.59B | 461.89B | 467.86B | 500.35B | 474.23B | 368.83B | 357.29B | 314.17B | 318.11B | 320.38B | 368.39B | 396.83B | 368.38B | 246.6B | 251.18B | 204.24B | 227.54B | 217.19B | 228.99B | 246.48B | 155.85B | 53.83B | 61.69B | 52.29B | 46.15B | 37.97B | 16.88B | 8.26B | 2B |
| Cash & Due from Banks | 133.53B | 111.69B | 75.74B | 58.66B | 92.75B | 86.84B | 67.45B | 49.66B | 51.84B | 46.16B | 43.38B | 54.08B | 87.4B | 98.42B | 77.35B | 76.25B | 66.5B | 55.7B | 102.71B | 87.21B | 50.17B | 69.54B | 32.81B | 29.69B | 29.21B | 26.6B | 18.82B | 12.32B | 16.88B | 8.26B | 2B |
| Short Term Investments | 526.21B | 428.28B | 325.85B | 403.23B | 375.11B | 413.51B | 406.78B | 319.17B | 305.44B | 268.01B | 274.73B | 266.29B | 281B | 298.4B | 291.03B | 170.35B | 184.68B | 148.54B | 124.83B | 129.98B | 178.82B | 176.94B | 123.04B | 24.13B | 32.47B | 25.7B | 27.33B | 25.65B | 0 | 0 | 0 |
| Total Investments | 986.49B | 980.75B | 700.7B | 689.86B | 665.41B | 682.58B | 630B | 493.77B | 452.15B | 396.1B | 386.3B | 357.5B | 351.71B | 345.96B | 361.38B | 456.22B | 500.72B | 454.15B | 413.61B | 518B | 589.45B | 461.84B | 631.75B | 509.83B | 416.84B | 406.67B | 356.25B | 307.19B | 265.76B | 255.61B | 34.58B |
| Investments Growth % | 114.15% | 39.97% | 1.57% | 3.67% | -2.52% | 8.35% | 27.59% | 9.21% | 14.15% | 2.54% | 8.05% | 1.65% | 1.66% | -4.27% | -20.79% | -8.89% | 10.25% | 9.8% | -20.15% | -12.12% | 27.63% | -26.89% | 23.91% | 22.31% | 2.5% | 14.15% | 15.97% | 15.59% | 3.97% | 639.25% | 28.17% |
| Long-Term Investments | 1.82T | 552.48B | 374.86B | 286.63B | 290.3B | 269.07B | 223.22B | 174.6B | 146.7B | 128.09B | 111.57B | 91.21B | 70.71B | 47.55B | 70.35B | 285.87B | 316.04B | 305.62B | 288.77B | 388.02B | 410.63B | 284.9B | 508.7B | 485.7B | 384.37B | 380.97B | 328.93B | 281.54B | 265.76B | 255.61B | 34.58B |
| Accounts Receivables | 132.6B | 114.72B | 86.16B | 80.11B | 78.54B | 96.02B | 97.74B | 55.65B | 53.3B | 56.19B | 46.46B | 45.41B | 48.96B | 57.1B | 64.29B | 43.42B | 45.05B | 38.76B | 36.52B | 84.67B | 91.86B | 57.12B | 18.51B | 9.91B | 7.14B | 11.74B | 6.7B | 7.62B | 26.58B | 30.23B | 3.64B |
| Goodwill & Intangibles | 23.07B | 22.74B | 23.16B | 23.76B | 24.27B | 25.19B | 16.61B | 9.25B | 8.85B | 9.04B | 9.3B | 9.57B | 9.75B | 9.88B | 10.43B | 10.97B | 11.41B | 12.22B | 3.16B | 4.07B | 3.44B | 2.5B | 2.2B | 9.91B | 7.14B | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 17.11B | 16.73B | 16.71B | 16.71B | 16.65B | 16.83B | 11.63B | 7.14B | 6.69B | 6.6B | 6.58B | 6.58B | 6.59B | 6.59B | 6.65B | 6.69B | 6.74B | 7.16B | 2.26B | 3.02B | 2.79B | 2.21B | 1.87B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 5.96B | 6.01B | 6.45B | 7.05B | 7.62B | 8.36B | 4.98B | 2.11B | 2.16B | 2.45B | 2.72B | 2.98B | 3.16B | 3.29B | 3.78B | 4.29B | 4.67B | 5.05B | 906M | 1.05B | 651M | 294M | 331M | 9.91B | 7.14B | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 4.16B | 23M | 23M | 4M | 16M | 21M | 0 | 0 | 0 | 25M | 6.37B | 6.11B | 6.02B | 5.95B | 6.46B | 6.15B | 7.07B | 5.09B | 4.37B | 4.09B | 2.73B | 2.6B | 2.43B | 2.27B | 2.58B | 2.69B | 2.2B | 1.83B | 1.71B | 379.7M |
| Other Assets | 28.29B | 180.96B | 329.29B | 341.28B | 319.26B | 297.5B | 304.04B | 287.1B | 287.39B | 344.24B | 329.49B | 314.53B | 297.59B | 315.32B | 261.57B | 151.32B | 168.77B | 197.84B | 109.42B | 331.07B | 374.55B | 299.76B | 59.47B | 49.46B | 72.58B | 35.04B | 36.82B | 37.63B | 6.54B | 6.49B | 1.81B |
| Total Current Assets | 1.08T | 654.69B | 487.75B | 542B | 546.39B | 596.37B | 571.97B | 424.48B | 410.58B | 370.36B | 364.57B | 365.78B | 417.36B | 453.93B | 432.67B | 295.27B | 305.33B | 248.72B | 270.32B | 317.87B | 328.48B | 308.63B | 174.36B | 63.74B | 68.83B | 64.04B | 52.85B | 45.59B | 43.45B | 38.48B | 5.64B |
| Total Non-Current Assets | 511.63B | 765.58B | 727.32B | 651.7B | 633.84B | 591.77B | 543.9B | 470.95B | 442.95B | 481.37B | 450.38B | 421.68B | 384.15B | 378.77B | 348.29B | 454.63B | 502.37B | 522.75B | 406.45B | 727.54B | 792.71B | 589.89B | 572.97B | 539.11B | 460.67B | 418.59B | 368.43B | 321.37B | 274.14B | 263.81B | 36.77B |
| Total Assets | 1.58T | 1.42T | 1.22T | 1.19T | 1.18T | 1.19T | 1.12T | 895.43B | 853.53B | 851.73B | 814.95B | 787.47B | 801.51B | 832.7B | 780.96B | 749.9B | 807.7B | 771.46B | 676.76B | 1.05T | 1.12T | 898.52B | 747.33B | 602.84B | 529.5B | 482.63B | 421.28B | 366.97B | 317.59B | 302.29B | 42.41B |
| Asset Growth % | 58.66% | 16.89% | 1.79% | 1.14% | -0.67% | 6.48% | 24.62% | 4.91% | 0.21% | 4.51% | 3.49% | -1.75% | -3.75% | 6.63% | 4.14% | -7.16% | 4.7% | 13.99% | -35.26% | -6.76% | 24.78% | 20.23% | 23.97% | 13.85% | 9.71% | 14.56% | 14.8% | 15.55% | 5.06% | 612.71% | 11.01% |
| Return on Assets (ROA) | 1.27% | 1.28% | 1.11% | 0.77% | 0.93% | 1.31% | 1.09% | 1.03% | 1.03% | 0.73% | 0.75% | 0.77% | 0.42% | 0.36% | 0.01% | 0.52% | 0.6% | 0.19% | 0.2% | 0.3% | 0.74% | 0.6% | 0.66% | 0.67% | 0.59% | 0.78% | 1.38% | 1.4% | 1.06% | 1.5% | 2.36% |
| Accounts Payable | 259.29B | 415.52B | 175.94B | 208.15B | 216.13B | 228.69B | 227.44B | 197.83B | 179.56B | 191.51B | 190.51B | 186.63B | 181.07B | 157.13B | 127.72B | 123.61B | 129.18B | 125.08B | 128.51B | 215.63B | 147.29B | 120.37B | 120.2B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.05B |
| Total Debt | 394.23B | 475.56B | 360.49B | 339.04B | 308.75B | 305.36B | 283.53B | 261.52B | 248.89B | 260.28B | 251.72B | 221.41B | 237.07B | 315.61B | 310.11B | 382.29B | 434.72B | 432.43B | 330.36B | 450.7B | 567.26B | 480.91B | 566.54B | 258.68B | 371.93B | 284.81B | 241.28B | 233.26B | 202.89B | 196.88B | 27.62B |
| Net Debt | 260.7B | 363.87B | 284.75B | 280.38B | 216B | 218.52B | 216.08B | 211.87B | 197.05B | 214.11B | 208.34B | 167.33B | 149.67B | 217.18B | 232.76B | 306.04B | 368.22B | 376.73B | 227.65B | 363.49B | 517.09B | 411.36B | 533.73B | 228.98B | 342.72B | 258.22B | 222.46B | 220.94B | 186.01B | 188.63B | 25.62B |
| Long-Term Debt | 371.57B | 327.33B | 288.78B | 267.47B | 241.08B | 232.83B | 218.8B | 197.66B | 195.55B | 200.3B | 174.46B | 161.8B | 163.46B | 163.56B | 184.66B | 204.68B | 202.4B | 201.45B | 179.84B | 190.62B | 144.98B | 110.47B | 95.29B | 65.6B | 55.16B | 49.67B | 42.05B | 28.6B | 27.43B | 24.79B | 17.94B |
| Short-Term Debt | 22.67B | 144.05B | 71.71B | 71.57B | 67.67B | 72.53B | 64.73B | 63.87B | 53.34B | 59.98B | 57B | 40.3B | 73.61B | 152.05B | 125.45B | 177.61B | 232.31B | 230.98B | 150.53B | 260.07B | 422.29B | 370.44B | 471.26B | 193.08B | 316.77B | 235.15B | 199.23B | 204.66B | 175.46B | 172.09B | 9.68B |
| Other Liabilities | 427.97B | 413.53B | 81.38B | 78.48B | 81.17B | 76.17B | 78.27B | 58.09B | 56.37B | 57.44B | 40.79B | 48.23B | 110.56B | 107.8B | 111.27B | 108.25B | 98.06B | 78.11B | 117.08B | 316.63B | 342.93B | 249.4B | 138.81B | 303.65B | 120.71B | 163.61B | 148.4B | 105.89B | 90.98B | 81.45B | 3.21B |
| Total Current Liabilities | 666.5B | 559.57B | 739.49B | 747.76B | 756.75B | 772.54B | 715.64B | 556.98B | 520.21B | 515.52B | 502.25B | 481.94B | 455.39B | 492.31B | 419.61B | 366.89B | 441.83B | 439.12B | 330.39B | 506.88B | 597.92B | 509.48B | 485.03B | 205.91B | 330.53B | 247.42B | 211.16B | 215.06B | 183.65B | 181.09B | 16.1B |
| Total Non-Current Liabilities | 799.54B | 748.05B | 370.15B | 345.95B | 322.25B | 309B | 297.07B | 255.75B | 251.92B | 257.74B | 235.52B | 229.34B | 274.02B | 271.36B | 295.93B | 312.93B | 300.46B | 279.56B | 296.92B | 507.26B | 487.91B | 359.86B | 234.09B | 369.25B | 175.87B | 213.28B | 190.45B | 134.5B | 118.42B | 106.25B | 21.15B |
| Total Liabilities | 1.47T | 1.31T | 1.11T | 1.09T | 1.08T | 1.08T | 1.01T | 812.73B | 772.13B | 773.27B | 737.77B | 711.28B | 729.41B | 763.67B | 715.53B | 679.82B | 742.29B | 718.68B | 627.31B | 1.01T | 1.09T | 869.34B | 719.13B | 575.17B | 506.4B | 460.7B | 401.61B | 349.55B | 302.07B | 287.33B | 37.25B |
| Total Equity | 115.38B | 112.65B | 105.43B | 99.98B | 101.23B | 106.6B | 103.15B | 82.7B | 81.41B | 78.47B | 77.18B | 76.18B | 72.1B | 69.03B | 65.43B | 70.08B | 65.41B | 52.78B | 49.46B | 31.27B | 35.36B | 29.18B | 28.21B | 27.68B | 23.09B | 21.93B | 19.67B | 17.41B | 15.52B | 14.96B | 5.16B |
| Equity Growth % | 27.48% | 6.85% | 5.45% | -1.23% | -5.03% | 3.34% | 24.73% | 1.59% | 3.75% | 1.67% | 1.3% | 5.66% | 4.45% | 5.51% | -6.64% | 7.14% | 23.92% | 6.72% | 58.16% | -11.58% | 21.18% | 3.46% | 1.91% | 19.84% | 5.33% | 11.46% | 12.96% | 12.22% | 3.76% | 189.58% | 6.84% |
| Equity / Assets (Capital Ratio) | 7.3% | 7.93% | 8.68% | 8.38% | 8.58% | 8.97% | 9.24% | 9.24% | 9.54% | 9.21% | 9.47% | 9.67% | 9% | 8.29% | 8.38% | 9.35% | 8.1% | 6.84% | 7.31% | 2.99% | 3.15% | 3.25% | 3.77% | 4.59% | 4.36% | 4.54% | 4.67% | 4.75% | 4.89% | 4.95% | 12.18% |
| Return on Equity (ROE) | 16.22% | 15.46% | 13.04% | 9.03% | 10.61% | 14.34% | 11.83% | 11.02% | 10.94% | 7.85% | 7.8% | 8.26% | 4.91% | 4.36% | 0.1% | 6.03% | 7.96% | 2.63% | 4.23% | 9.63% | 23.15% | 17.21% | 16.05% | 14.92% | 13.27% | 16.93% | 29.42% | 29.1% | 21.5% | 25.71% | 19.03% |
| Book Value per Share | 72.43 | 70.72 | 65.44 | 60.74 | 59.10 | 58.76 | 63.52 | 50.43 | 46.84 | 43.09 | 40.90 | 39.01 | 36.58 | 35.28 | 34.10 | 41.83 | 46.35 | 44.52 | 45.14 | 29.66 | 33.53 | 27.02 | 25.52 | 25.18 | 20.79 | 19.54 | 17.18 | 15.02 | 12.80 | 12.28 | 8.17 |
| Tangible BV per Share | 57.95 | 56.44 | 51.07 | 46.31 | 44.93 | 44.88 | 53.28 | 44.78 | 41.75 | 38.12 | 35.97 | 34.11 | 31.64 | 30.23 | 28.66 | 35.28 | 38.26 | 34.22 | 42.25 | 25.80 | 30.26 | 24.71 | 23.53 | 16.16 | 14.36 | 19.54 | 17.18 | 15.02 | 12.80 | 12.28 | 8.17 |
| Common Stock | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 20M | 16M | 15M | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 12M | 0 | 0 | 0 |
| Additional Paid-in Capital | 30.99B | 31.15B | 30.18B | 29.83B | 29.34B | 28.84B | 25.55B | 23.93B | 23.79B | 23.55B | 23.27B | 24.15B | 24.25B | 24.57B | 23.43B | 22.84B | 13.52B | 8.62B | 459M | 1.9B | 2.21B | 2.39B | 2.09B | 4.03B | 3.68B | 3.75B | 3.38B | 3.84B | 0 | 0 | 0 |
| Retained Earnings | 118.91B | 115.09B | 104.99B | 98B | 94.86B | 89.43B | 78.69B | 70.59B | 64.17B | 57.58B | 53.68B | 49.2B | 44.63B | 42.17B | 39.91B | 40.34B | 38.6B | 35.06B | 36.15B | 38.05B | 41.42B | 35.19B | 31.43B | 28.04B | 25.25B | 23.27B | 20.8B | 16.29B | 12.08B | 9.33B | 2.97B |
| Accumulated OCI | -5.51B | -6.29B | -6.81B | -6.42B | -6.25B | -3.1B | -1.96B | -2.79B | -2.29B | -3.06B | -2.64B | -1.66B | -1.25B | -1.09B | -516M | -157M | -467M | -560M | -420M | -199M | -35M | -190M | 1.29B | -445M | 121M | 279M | 559M | 566M | 0 | 0 | 0 |
| Treasury Stock | -39.88B | -38.1B | -33.61B | -31.14B | -26.58B | -17.5B | -9.77B | -18.73B | -13.97B | -9.21B | -5.8B | -4.06B | -2.77B | -2.97B | -2.24B | -2.5B | -4.06B | -6.04B | -6.62B | -9.59B | -9.35B | -8.21B | -6.61B | -6.77B | -7.18B | -6.93B | -6.02B | -4.36B | 0 | 0 | 0 |
| Preferred Stock | 9.75B | 9.75B | 9.75B | 8.75B | 8.75B | 7.75B | 9.25B | 8.52B | 8.52B | 8.52B | 7.52B | 7.52B | 6.02B | 3.22B | 1.51B | 1.51B | 9.6B | 9.6B | 19.17B | 1.1B | 1.1B | 0 | 0 | 0 | 0 | 345M | 545M | 670M | 1.07B | 876M | 0 |
Regulatory and interest rate sensitivity
According to recent quarterly filings, Morgan Stanley has grown its total assets to $1.6 trillion in 2026Q1 from $1.2 trillion in 2023Q4, signaling a deliberate expansion of the firm's balance sheet capacity to support its diversified wealth management and institutional securities business model.
The consistent growth in total assets suggests that the firm is successfully capturing market share and deploying capital into its core segments. Investors should monitor whether this asset growth continues to outpace the firm's liability obligations, as maintaining this trajectory is essential for sustaining long-term profitability.
As reported in financial statements, the firm's debt-to-equity ratio fluctuated between 3.39 and 4.22 over the last ten quarters, with the most recent figure of 3.42 in 2026Q1 indicating a disciplined approach to managing leverage despite the capital-intensive nature of its institutional operations.
The firm appears to be utilizing debt strategically to fund its operations while maintaining a buffer that satisfies regulatory requirements. This level of leverage warrants further investigation to ensure that the firm's interest coverage remains robust during periods of market volatility or rising interest rate environments.
Based on the provided data, the current ratio reached 1.61 in 2026Q1, a significant improvement from the 0.72 observed in 2023Q4, which suggests that the firm has substantially bolstered its liquidity position to better navigate potential shocks within its institutional and wealth management segments.
The sharp increase in cash reserves to $659.7 billion appears to provide a substantial cushion against short-term obligations. This liquidity profile suggests that the firm is prioritizing capital preservation, which may be a prudent response to the current macroeconomic uncertainty and regulatory scrutiny.
As indicated by the latest quarterly data, retained earnings have steadily climbed to $118.9 billion in 2026Q1 from $98.0 billion in 2023Q4, demonstrating that the firm's internal capital generation remains a primary driver of its strengthening equity base over the observed period.
The consistent accumulation of retained earnings suggests that the firm is successfully reinvesting profits into its business while simultaneously supporting shareholder returns. This trend appears to reflect a stable and self-sustaining capital structure that reduces the firm's reliance on external financing for its ongoing growth initiatives.
Quick answers to the most common questions about buying MS-PQ stock.
As of 2025, Morgan Stanley (MS-PQ) had total assets of $1.42T including $654.69B in current assets.
Morgan Stanley (MS-PQ) carries total debt of $475.56B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Morgan Stanley (MS-PQ) has total shareholders' equity (book value) of $111.63B ($70.72 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Morgan Stanley (MS-PQ) reported a current ratio of 1.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.