AI English summary of an SEC filing — figures as filed
Morgan Stanley MSMorgan Stanley reported net revenues of $17.9 billion for Q4 2025 compared with $16.2 billion a year ago. Net income applicable to Morgan Stanley was $4.4 billion, or $2.68 per diluted share, compared with $3.7 billion, or $2.22 per diluted share, for the same period a year ago.
Key points
AI summaryMorgan Stanley reported net revenues of $17.9 billion for Q4 2025 compared with $16.2 billion a year ago. Net income applicable to Morgan Stanley was $4.4 billion, or $2.68 per diluted share, compared with $3.7 billion, or $2.22 per diluted share, for the same period a year ago.
The company reported full-year net revenues of $70.6 billion and net income applicable to Morgan Stanley of $16.9 billion, or $10.21 per diluted share, with a full-year ROTCE of 21.6%. A year ago, net revenues were $61.8 billion and net income was $13.4 billion, or $7.95 per diluted share.
For Q4 2025, the company's net revenues were $7,931 million in Institutional Securities, $8,429 million in Wealth Management and $1,720 million in Investment Management. Within Institutional Securities, Investment Banking net revenues were $2,412 million, Equity $3,666 million and Fixed Income $1,763 million.
Morgan Stanley repurchased $1.5 billion of its outstanding common stock in Q4 and $4.6 billion during the year as part of its Share Repurchase Program. The Board of Directors declared a $1.00 quarterly dividend per share. The Standardized Common Equity Tier 1 capital ratio was 15.0% at year-end.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Q4 Net Revenues and Net Income
Morgan Stanley reported net revenues of $17.9 billion for Q4 2025 compared with $16.2 billion a year ago. Net income applicable to Morgan Stanley was $4.4 billion, or $2.68 per diluted share, compared with $3.7 billion, or $2.22 per diluted share, for the same period a year ago.
Source · Based on the filing body and exhibits
Full-Year Net Revenues, Net Income and ROTCE
The company reported full-year net revenues of $70.6 billion and net income applicable to Morgan Stanley of $16.9 billion, or $10.21 per diluted share, with a full-year ROTCE of 21.6%. A year ago, net revenues were $61.8 billion and net income was $13.4 billion, or $7.95 per diluted share.
Source · Based on the filing body and exhibits
Q4 Net Revenues by Segment
For Q4 2025, the company's net revenues were $7,931 million in Institutional Securities, $8,429 million in Wealth Management and $1,720 million in Investment Management. Within Institutional Securities, Investment Banking net revenues were $2,412 million, Equity $3,666 million and Fixed Income $1,763 million.
Source · Based on the filing body and exhibits
Share Repurchases and Dividend, CET1
Morgan Stanley repurchased $1.5 billion of its outstanding common stock in Q4 and $4.6 billion during the year as part of its Share Repurchase Program. The Board of Directors declared a $1.00 quarterly dividend per share. The Standardized Common Equity Tier 1 capital ratio was 15.0% at year-end.
Source · Based on the filing body and exhibits
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.
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