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Morgan Stanley MS Investment Management — Noninterest Expense

Other segment segments

Institutional Securities1
$6.71B+25.0%
Wealth Management1
$6.13B+10.8%

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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:NoninterestExpense.

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 — noninterest expense?
Morgan Stanley (MS) reported investment management — noninterest expense of $1.24B in Q2 2026.
How has Morgan Stanley's investment management — noninterest expense changed year-over-year?
Morgan Stanley's investment management — noninterest expense increased by 1.1% year-over-year, from $1.23B to $1.24B.
What is the long-term trend for Morgan Stanley's investment management — noninterest expense?
Over 4 years (2021 to 2025), Morgan Stanley's investment management — noninterest expense has grown at a 2.7% compound annual growth rate (CAGR), from $4.54B to $5.05B.
What does investment management — noninterest expense mean?
The sum of all operating expenses incurred by the Investment Management segment, including both compensation and non-compensation costs. This represents the total cost base required to operate the segment. It is a critical metric for calculating the segment's operating leverage and overall profitability.