Institutional Securities — Noninterest Expense
Business Segments · Noninterest ExpenseMorgan Stanley Institutional Securities — Noninterest Expense decreased by 2.1% to $5.23B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 10.1%, from $4.75B to $5.23B. Over 4 years (FY 2021 to FY 2025), Institutional Securities — Noninterest Expense shows an upward trend with a 4.6% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
StatementSegment
CategoryEfficiency
SignalLower is better
VolatilityStable
First reportedQ1 2019
Last reportedQ4 2025
How to read this metric
An increase indicates rising operational costs, while a decrease suggests improved cost management or reduced business activity.
Detailed definition
The sum of all operating expenses for the Institutional Securities segment, including both compensation and non-compensa...
Peer comparison
Standard operating expense metric across all banking segments.
Metric ID:
ms_segment_is_noninterest_expenseHistorical Data
19 periods
| 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 | $4.52B | $4.50B | $3.71B | $4.83B | $4.48B | $4.17B | $3.99B | $4.72B | $4.58B | $4.38B | $4.51B | $4.66B | $4.88B | $4.84B | $4.75B | $5.61B | $5.36B | $5.34B | $5.23B |
| QoQ Change | — | -0.6% | -17.6% | +30.3% | -7.1% | -7.0% | -4.2% | +18.2% | -2.9% | -4.4% | +3.0% | +3.4% | +4.7% | -0.9% | -1.8% | +18.2% | -4.4% | -0.4% | -2.1% |
| YoY Change | — | — | — | — | -0.9% | -7.4% | +7.7% | -2.3% | +2.2% | +5.0% | +13.0% | -1.1% | +6.6% | +10.5% | +5.3% | +20.3% | +9.9% | +10.4% | +10.1% |
Range$3.71B – $5.61B
CAGR+3.3%
Avg YoY Growth+6.0%
Median YoY Growth+6.6%
Current Streak3 quarters decline
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Frequently Asked Questions
- What is Morgan Stanley's institutional securities — noninterest expense?
- Morgan Stanley (MS) reported institutional securities — noninterest expense of $5.23B in Q4 2025.
- How has Morgan Stanley's institutional securities — noninterest expense changed year-over-year?
- Morgan Stanley's institutional securities — noninterest expense increased by 10.1% year-over-year, from $4.75B to $5.23B.
- What is the long-term trend for Morgan Stanley's institutional securities — noninterest expense?
- Over 4 years (2021 to 2025), Morgan Stanley's institutional securities — noninterest expense has grown at a 4.6% compound annual growth rate (CAGR), from $18.03B to $21.54B.
- What does institutional securities — noninterest expense mean?
- The total operating costs incurred by the Institutional Securities segment.