What is Morgan Stanley's pre-tax income?

Morgan Stanley (MS) reported pre-tax income of $7.01B in Q1 2026.

How has Morgan Stanley's pre-tax income changed year-over-year?

Morgan Stanley's pre-tax income increased by 26.5% year-over-year, from $5.54B to $7.01B.

What is the long-term trend for Morgan Stanley's pre-tax income?

Over 4 years (2021 to 2025), Morgan Stanley's pre-tax income has grown at a 2.8% compound annual growth rate (CAGR), from $19.67B to $21.95B.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

Morgan Stanley MS Pre-Tax Income

Pre-Tax Income at other companies

JPMorgan ChaseJPM

$20.48B+11.3%

Bank of AmericaBAC

$10.4B+15.6%

Wells Fargo & CompanyWFC

$5.98B+12.3%

Jefferies Financial GroupJEF

$315.55M+134%

Charles Schwab CorporationSCHW

$3.19B+29.9%

Stifel FinancialSF

$326.07M+415%

Segments

By segment

See full

Institutional Securities1$4.16B+26.8%

Wealth Management1$2.59B+32.8%

Investment Management$280M-13.3%

Other financials

Income statement

See full

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

See full

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$334.43B+53.4%

Enterprise value$572.47B+28.2%

P/E18.5×+3.7×

P/S4.6×+1.3×

Profitability

See full

Net margin24.6%+2.4pp

FCF margin-54.3%-8.4pp

Returns & leverage

See full

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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

The official record: Morgan Stanley’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Morgan Stanley's pre-tax income?: Morgan Stanley (MS) reported pre-tax income of $7.01B in Q1 2026.
How has Morgan Stanley's pre-tax income changed year-over-year?: Morgan Stanley's pre-tax income increased by 26.5% year-over-year, from $5.54B to $7.01B.
What is the long-term trend for Morgan Stanley's pre-tax income?: Over 4 years (2021 to 2025), Morgan Stanley's pre-tax income has grown at a 2.8% compound annual growth rate (CAGR), from $19.67B to $21.95B.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.