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Morgan Stanley MS Plan Assets at Fair Value

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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$336.02B+49.0%
P/E18.9×+3.6×
P/S4.3×+0.9×

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:DefinedBenefitPlanPercentageOfAssetsIncludedInTotalPlanAssets.

The source filing: Morgan Stanley’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 4:42 PM EST
Fiscal year
FY2025
Accession
0000895421-26-000086

The U.S. Qualified Plan assets represented 86% of the Firm’s total pension plan assets at both December 31, 2025 and December 31, 2024. The U.S. Qualified Plan uses a combination of active and risk-controlled fixed income investment strategies. The fixed income asset allocation consists primarily of fixed income securities and related derivative instruments designed to approximate the expected cash flows of the plan’s liabilities to help reduce plan exposure to interest rate variation and to better align assets with the obligation. The longer-duration fixed income allocation is expected to help protect the plan’s funded status and maintain the stability of plan contributions over the long run. The investment portfolio performance is assessed by comparing actual investment performance with changes in the estimated present value of the U.S. Qualified Plan’s benefit obligation.

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FAQ

What is Morgan Stanley's plan assets at fair value?
Morgan Stanley (MS) reported plan assets at fair value of 86% in Q4 2024.
What is the long-term trend for Morgan Stanley's plan assets at fair value?
Over 2 years (2022 to 2024), Morgan Stanley's plan assets at fair value has grown at a -1.1% compound annual growth rate (CAGR), from 88% to 86%.
What does plan assets at fair value mean?
The total market value of assets held in trust to fund pension or post-retirement benefit obligations. This metric is critical for assessing the company's long-term liability management and the funding status of its employee benefit programs.

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