Investment Management — Pre-tax margin
Morgan Stanley Investment Management — Pre-tax margin increased by 800.0% to 18.0% in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 10.0%, from 20.0% to 18.0%. Over 3 years (FY 2022 to FY 2025), Investment Management — Pre-tax margin shows an upward trend with a 63.0% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
An increase indicates improved operational efficiency or higher-margin revenue streams, while a decrease suggests rising costs or margin pressure.
Detailed definition
The ratio of pre-tax income to net revenues for the Investment Management segment. This metric measures the efficiency o...
Peer comparison
Comparable to 'Operating Margin' or 'Pre-Tax Margin' in asset management and financial services sectors.
ms_segment_im_pre_tax_marginHistorical Data
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | 3.8% | 3.8% | 3.8% | 3.8% | 4% | 4% | 4% | 4% | 18% | 16% | 18% | 2% | 20% | 21% | 22% | 2% | 18% |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +6.7% | +0.0% | +0.0% | +0.0% | +350.0% | -11.1% | +12.5% | -88.9% | +900.0% | +5.0% | +4.8% | -90.9% | +800.0% |
| YoY Change | — | — | — | — | +6.7% | +6.7% | +6.7% | +6.7% | +350.0% | +300.0% | +350.0% | -50.0% | +11.1% | +31.2% | +22.2% | +0.0% | -10.0% |
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Frequently Asked Questions
- What is Morgan Stanley's investment management — pre-tax margin?
- Morgan Stanley (MS) reported investment management — pre-tax margin of 18.0% in Q1 2026.
- How has Morgan Stanley's investment management — pre-tax margin changed year-over-year?
- Morgan Stanley's investment management — pre-tax margin decreased by 10.0% year-over-year, from 20.0% to 18.0%.
- What is the long-term trend for Morgan Stanley's investment management — pre-tax margin?
- Over 3 years (2022 to 2025), Morgan Stanley's investment management — pre-tax margin has grown at a 63.0% compound annual growth rate (CAGR), from 15.0% to 65.0%.
- What does investment management — pre-tax margin mean?
- The percentage of revenue that remains as profit before taxes are paid.