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Morgan Stanley MS Non-compensation expenses

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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$343.12B+52.1%
P/E19.3×+4.0×
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 ms:NoninterestExpenseExcludingLaborAndRelatedExpense.

The source filing: Morgan Stanley’s 10-Q, filed May 5, 2026.

Filed
May 5, 2026, 4:15 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000895421-26-000121
$ in millionsISWMIMI/ETotal
Net revenues$10,721$8,519$1,535$(195)$20,580
Provision for credit losses$92$6$98
Compensation and benefits33,2644,6486308,542
Non-compensation expenses33,2041,274625(174)4,929
Total non-interest expenses$6,468$5,922$1,255$(174)$13,471
Income before provision for income taxes4,1612,591280(21)7,011
Provision for income taxes79654438(5)1,373
Net income3,3652,047242(16)5,638

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FAQ

What is Morgan Stanley's non-compensation expenses?
Morgan Stanley (MS) reported non-compensation expenses of $4.93B in Q1 2026.
How has Morgan Stanley's non-compensation expenses changed year-over-year?
Morgan Stanley's non-compensation expenses increased by 8.6% year-over-year, from $4.54B to $4.93B.
What is the long-term trend for Morgan Stanley's non-compensation expenses?
Over 4 years (2021 to 2025), Morgan Stanley's non-compensation expenses has grown at a 5.5% compound annual growth rate (CAGR), from $15.46B to $19.13B.
What does non-compensation expenses mean?
Represents all operating expenses excluding compensation and benefits, such as technology, occupancy, professional services, and marketing. This metric is a primary lever for management to control the firm's cost structure and improve operating margins. It highlights the efficiency of the firm's infrastructure and support functions.

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