What is Morgan Stanley's goodwill impairment?

Morgan Stanley (MS) reported goodwill impairment of $0 in Q4 2025.

What does goodwill impairment mean?

Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.

Morgan Stanley MS Goodwill impairment

Goodwill impairment at other companies

Helen Of TroyHELE

$39.01M—

Citizens Financial Services, Inc.CZFS

$0—

Maravai LifeSciences Holdings, Inc.MRVI

$0-100%

SSR MiningSSRM

$0—

Amtech SystemsASYS

$20.35M—

Bloomin' Brands, Inc.BLMN

$0—

Other financials

Income statement

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Revenue$20.6B+16.0%

Net income$5.6B+29.0%

EPS (diluted)$3.43+31.9%

Balance sheet

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Cash & equivalents$133.53B+47.2%

Total debt$371.57B+18.4%

Total equity$114.29B+7.0%

Total assets$1.58T+21.6%

Cash flow

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Operating cash flow-$7.1B+70.4%

CapEx$754.0M+5.8%

Free cash flow-$7.9B+68.2%

Valuation

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Market cap$329.72B+50.5%

Enterprise value$567.75B+27.2%

P/E18.2×+3.4×

P/S4.5×+1.2×

Profitability

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Net margin24.6%+2.4pp

FCF margin-54.3%-8.4pp

Returns & leverage

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Return on equity16.4%+2.5pp

Debt / equity3.3×+0.3×

Where this comes from

Reported directly by Morgan Stanley in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairmentLoss.

The official record: Morgan Stanley’s 10-K, filed February 19, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Morgan Stanley's goodwill impairment?: Morgan Stanley (MS) reported goodwill impairment of $0 in Q4 2025.
What does goodwill impairment mean?: Write-down of goodwill carrying value when a reporting unit's fair value falls below its book value, indicating that past acquisitions have lost value.