Morgan Stanley said it reported net revenues of $61.8 billion in 2024, an increase of 14% compared with $54.1 billion in 2023, and net income applicable to Morgan Stanley of $13.4 billion in 2023, an increase of 47% compared with $9.1 billion in the prior year.

1. 01

   Morgan Stanley said it reported net revenues of $61.8 billion in 2024, an increase of 14% compared with $54.1 billion in 2023, and net income applicable to Morgan Stanley of $13.4 billion in 2023, an increase of 47% compared with $9.1 billion in the prior year.

2. 02

   The company said diluted earnings per common share in 2024 were $7.95, an increase of 53% compared with $5.18 in 2023, and that ROE was 14.0% and ROTCE was 18.8%.

3. 03

   Morgan Stanley said Institutional Securities net revenues in 2024 were $28,080 million, an increase of 22%, Wealth Management net revenues were $28,420 million, an increase of 8%, and Investment Management net revenues were $5,861 million, an increase of 9%.

4. 04

   The company said the expense efficiency ratio in 2024 was 71%, lower than 77% in the prior year, and that Common Equity Tier 1 capital accreted $5.6 billion. It added that the Common Equity Tier 1 capital ratio as of December 31, 2024 was 15.9%.

Key figures

Fiscal year ended December 31, 2024

Revenue

$61.8B

Net income

$13.4B

EPS

$7.95

Operating cash flow

$1.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.