Free cash flow
Morgan Stanley Free cash flow increased by 22.9% to -$3.12B in Q4 2025 compared to the prior quarter. Over 3 years (FY 2021 to FY 2025), Free cash flow shows a downward trend with a -13.4% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase suggests strong operational efficiency and the ability to self-fund future innovation or return capital to shareholders, while a decrease may indicate heavy capital expenditure cycles or declining operational profitability.
Detailed definition
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and m...
Peer comparison
High-growth semiconductor and AI infrastructure peers typically prioritize reinvestment, so free cash flow margins are often compared against R&D intensity and capital expenditure requirements of industry rivals.
cf_free_cash_flowHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | 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 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $4.10B | $1.51B | $0.00 | -$413.00M | $14.11B | -$8.41B | -$14.77B | -$10.58B | -$10.52B | $2.83B | -$18.68B | $3.54B | $1.67B | -$18.24B | -$24.69B | $11.07B | -$4.05B | -$3.12B |
| QoQ Change | — | -63.2% | -100.0% | — | >999% | -159.6% | -75.6% | +28.3% | +0.6% | +126.9% | -759.2% | +119.0% | -52.8% | <-999% | -35.4% | +144.8% | -136.6% | +22.9% |
| YoY Change | — | — | — | — | +244.2% | -657.3% | — | <-999% | -174.5% | +133.7% | -26.5% | +133.5% | +115.9% | -743.6% | -796.6% | +561.1% | +77.8% | — |
Free cash flow at Other Companies
Frequently Asked Questions
- What is Morgan Stanley's free cash flow?
- Morgan Stanley (MS) reported free cash flow of -$3.12B in Q4 2025.
- What is the long-term trend for Morgan Stanley's free cash flow?
- Over 3 years (2021 to 2025), Morgan Stanley's free cash flow has grown at a -13.4% compound annual growth rate (CAGR), from $31.96B to -$20.79B.
- What does free cash flow mean?
- The cash a company has left over after paying for its operating expenses and capital investments.