Institutional Securities — Income before provision for income taxes
Business Segments · Income before provision for income taxesMorgan Stanley Institutional Securities — Income before provision for income taxes decreased by 16.3% to $2.66B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 9.1%, from $2.44B to $2.66B. Over 4 years (FY 2021 to FY 2025), Institutional Securities — Income before provision for income taxes shows relatively stable performance with a -1.2% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase reflects improved operational profitability and efficiency, while a decrease signals margin compression or higher operating costs.
Detailed definition
The operating profit of the Institutional Securities segment calculated by subtracting total noninterest expenses and cr...
Peer comparison
Comparable to pre-tax income metrics for business segments at other diversified financial services firms.
ms_segment_is_income_before_provision_for_income_taxesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $2.50B | $2.97B | $2.97B | $2.79B | $1.55B | $1.63B | $748.00M | $1.89B | $977.00M | $1.20B | $408.00M | $2.35B | $2.05B | $1.91B | $2.44B | $3.28B | $2.11B | $3.18B | $2.66B |
| QoQ Change | — | +19.0% | -0.0% | -6.2% | -44.2% | +4.6% | -54.0% | +152.9% | -48.4% | +22.7% | -66.0% | +476.2% | -13.0% | -6.6% | +27.7% | +34.4% | -35.7% | +50.7% | -16.3% |
| YoY Change | — | — | — | — | -37.8% | -45.3% | -74.8% | -32.1% | -37.1% | -26.3% | -45.5% | +24.3% | +109.4% | +59.4% | +498.3% | +39.6% | +3.2% | +66.5% | +9.1% |
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Frequently Asked Questions
- What is Morgan Stanley's institutional securities — income before provision for income taxes?
- Morgan Stanley (MS) reported institutional securities — income before provision for income taxes of $2.66B in Q4 2025.
- How has Morgan Stanley's institutional securities — income before provision for income taxes changed year-over-year?
- Morgan Stanley's institutional securities — income before provision for income taxes increased by 9.1% year-over-year, from $2.44B to $2.66B.
- What is the long-term trend for Morgan Stanley's institutional securities — income before provision for income taxes?
- Over 4 years (2021 to 2025), Morgan Stanley's institutional securities — income before provision for income taxes has grown at a -1.2% compound annual growth rate (CAGR), from $11.81B to $11.24B.
- What does institutional securities — income before provision for income taxes mean?
- The profit earned by the Institutional Securities segment before paying income taxes.