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Morgan Stanley MS Investment Management — Income before provision for income taxes

Other segment segments

Institutional Securities1
$4.26B+102%
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$2.7B+22.6%

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Other financials

Income statement

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Revenue$21.3B+27.1%
Net income$3.2B-9.8%
EPS (diluted)$3.46+62.4%

Balance sheet

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Cash & equivalents$133.53B+47.2%
Total debt$383.16B+13.5%
Total equity$114.29B+7.0%
Total assets$1.68T+23.7%

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$359.28B+57.1%
P/E20.2×+4.7×
P/S4.6×+1.1×

Profitability

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Net margin22.8%+0.5pp
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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

The official record: Morgan Stanley’s 8-K, filed July 15, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Morgan Stanley's investment management — income before provision for income taxes?
Morgan Stanley (MS) reported investment management — income before provision for income taxes of $404M in Q2 2026.
How has Morgan Stanley's investment management — income before provision for income taxes changed year-over-year?
Morgan Stanley's investment management — income before provision for income taxes increased by 25.1% year-over-year, from $323M to $404M.
What is the long-term trend for Morgan Stanley's investment management — income before provision for income taxes?
Over 4 years (2021 to 2025), Morgan Stanley's investment management — income before provision for income taxes has grown at a -3.1% compound annual growth rate (CAGR), from $1.68B to $1.48B.
What does investment management — income before provision for income taxes mean?
The profit generated by the Investment Management segment after all operating expenses are deducted but before accounting for income tax obligations. This metric isolates the operational profitability of the segment from tax-related variables. It is the primary measure of the segment's fundamental business performance.