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Morgan Stanley MS Wealth Management1 — Income before provision for income taxes

Other segment segments

Institutional Securities1
$4.26B+102%
Investment Management
$404M+25.1%

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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:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

The official record: Morgan Stanley’s 8-K, filed July 15, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Morgan Stanley's wealth management1 — income before provision for income taxes?
Morgan Stanley (MS) reported wealth management1 — income before provision for income taxes of $2.7B in Q2 2026.
How has Morgan Stanley's wealth management1 — income before provision for income taxes changed year-over-year?
Morgan Stanley's wealth management1 — income before provision for income taxes increased by 22.6% year-over-year, from $2.2B to $2.7B.
What is the long-term trend for Morgan Stanley's wealth management1 — income before provision for income taxes?
Over 4 years (2021 to 2025), Morgan Stanley's wealth management1 — income before provision for income taxes has grown at a 10.7% compound annual growth rate (CAGR), from $6.18B to $9.29B.
What does wealth management1 — income before provision for income taxes mean?
This represents the profit generated by the Wealth Management segment after all operating expenses are deducted but before income taxes are applied. It provides a clear view of the segment's core operational profitability. This figure is essential for evaluating the underlying performance of the business unit independent of tax jurisdictions.