MS
Morgan Stanley
Revenue by segment
2025, ended Dec 31, 2025
Segments by fiscal year
| USDLine, in USD | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Institutional Securities | 33.1B | 28.1B | 23.1B | 24.4B | 29.8B | 26.5B | 20.5B | 20.6B | 18.8B | 17.5B | 18.0B | 16.9B | 15.5B | 11.1B | 17.7B | 16.1B | 12.7B |
| Wealth Management | 31.8B | 28.4B | 26.3B | 24.4B | 24.2B | 19.1B | 17.7B | 17.2B | 16.8B | 15.4B | 15.1B | 14.9B | 14.1B | 12.9B | 12.8B | 12.5B | 9.4B |
| Investment Management | 6.53B | 5.86B | 5.37B | 5.38B | 6.22B | 3.73B | 3.76B | 2.75B | 2.59B | 2.11B | 2.32B | 2.71B | 3.06B | 2.31B | 1.89B | 2.69B | 1.29B |
| Intersegment Eliminations | −714M | −600M | −555M | −517M | −541M | −539M | −467M | −463M | −290M | −290M | −213M | −196M | −228M | −176M | −115M | −103M | −146M |
| Total | 70.6B | 61.8B | 54.1B | 53.7B | 59.8B | 48.8B | 41.5B | 40.1B | 37.9B | 34.6B | 35.2B | 34.3B | 32.5B | 26.2B | 32.2B | 31.2B | 23.3B |