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Morgan Stanley MS Institutional Securities — Goodwill

Other segment segments

Global Wealth Management Group
$10.2B+0.1%
Asset Management
$6.09B+0.1%

Similar metrics at other companies

StoneX Group Inc. logo
SNEXInstitutional — Total Goodwill
$162.6M+1,278%
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SEICInstitutional Investors — Goodwill
$62.45M+0.5%
Stifel Financial logo
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$1.11B+4.9%
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ECLGlobal Institutional — Goodwill
$1.05B+2.5%
Axos Financial logo
AXSecurities Business Segment — Goodwill
$59.95M0.0%
UMB Financial logo
UMBFInstitutional Banking — Goodwill
$76.49M0.0%

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$343.28B+51.0%
P/E19.3×+3.9×
P/S4.4×+1.0×

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:Goodwill.

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 — goodwill?
Morgan Stanley (MS) reported institutional securities — goodwill of $437M in Q4 2025.
How has Morgan Stanley's institutional securities — goodwill changed year-over-year?
Morgan Stanley's institutional securities — goodwill increased by 0.5% year-over-year, from $435M to $437M.
What does institutional securities — goodwill mean?
Represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations within the Institutional Securities segment. It reflects the premium paid for intangible benefits such as brand reputation, customer relationships, and market synergy. This asset is subject to periodic impairment testing to ensure its carrying value remains supported by future cash flows.