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Morgan Stanley MS Institutional Securities — Accumulated impairments

Other segment segments

Asset Management
$27M0.0%
Global Wealth Management Group
$0

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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:GoodwillImpairedAccumulatedImpairmentLoss.

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 institutional securities — accumulated impairments?
Morgan Stanley (MS) reported institutional securities — accumulated impairments of $673M in Q4 2025.
How has Morgan Stanley's institutional securities — accumulated impairments changed year-over-year?
Morgan Stanley's institutional securities — accumulated impairments decreased by 0.0% year-over-year, from $673M to $673M.
What does institutional securities — accumulated impairments mean?
The cumulative total of impairment charges recognized against goodwill or intangible assets within the Institutional Securities segment. This metric reflects the historical recognition that the carrying value of acquired assets has exceeded their recoverable amount. It serves as a measure of past overpayment or subsequent deterioration in the value of acquired business units.