Business Segments · Pre-tax margin
Institutional Securities1 — Pre-tax margin
Morgan Stanley Institutional Securities1 — Pre-tax margin increased by 5.4% to $0.39 in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 5.4%, from $0.37 to $0.39. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
StatementSegment
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ1 2022
Last reportedQ1 2026
How to read this metric
An increase indicates improved operational efficiency and better cost control, while a decrease suggests margin pressure or rising expenses relative to revenue.
Detailed definition
The ratio of pre-tax income to net revenues for the Institutional Securities segment. It measures the percentage of each...
Peer comparison
A key efficiency ratio used to benchmark the profitability of investment banking divisions across the industry.
Metric ID:
ms_segment_is_pre_tax_marginHistorical Data
15 periods
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | 0.1 | 0.1 | 0.1 | 0.1 | 0 | 0 | 0 | 0 | 0.3 | 0.3 | 0.3 | 0.4 | 0.3 | 0.4 | 0.4 |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | -32.1% | +0.0% | +0.0% | +0.0% | +615.8% | -14.7% | -3.4% | +32.1% | -24.3% | +32.1% | +5.4% |
| YoY Change | — | — | — | — | -32.1% | -32.1% | -32.1% | -32.1% | +615.8% | +510.5% | +489.5% | +8.8% | -3.4% | +32.1% | +5.4% |
Range0 – 0.4
CAGR+63.4%
Avg YoY Growth+139.1%
Median YoY Growth+5.4%
Current Streak2 quarters growth
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Frequently Asked Questions
- What is Morgan Stanley's institutional securities1 — pre-tax margin?
- Morgan Stanley (MS) reported institutional securities1 — pre-tax margin of $0.39 in Q1 2026.
- How has Morgan Stanley's institutional securities1 — pre-tax margin changed year-over-year?
- Morgan Stanley's institutional securities1 — pre-tax margin increased by 5.4% year-over-year, from $0.37 to $0.39.
- What does institutional securities1 — pre-tax margin mean?
- The percentage of revenue that remains as profit before accounting for taxes.