What is Morgan Stanley's undistributed earnings of foreign subsidiaries?

Morgan Stanley (MS) reported undistributed earnings of foreign subsidiaries of $490.00M in Q4 2025.

What is the long-term trend for Morgan Stanley's undistributed earnings of foreign subsidiaries?

Over 3 years (2022 to 2025), Morgan Stanley's undistributed earnings of foreign subsidiaries has grown at a 4.5% compound annual growth rate (CAGR), from $429.00M to $490.00M.

What does undistributed earnings of foreign subsidiaries mean?

Profits earned by foreign branches that are kept abroad instead of being sent back to the home country.

Discontinued — last reported Q4 '23

Equity

Undistributed Earnings of Foreign Subsidiaries

Morgan Stanley Undistributed Earnings of Foreign Subsidiaries increased by 21.0% to $490.00M in Q4 2025 compared to the prior quarter. Over 3 years (FY 2022 to FY 2025), Undistributed Earnings of Foreign Subsidiaries shows an upward trend with a 4.5% CAGR.

Analysis

StatementBalance Sheet Statement

SectionEquity

CategoryCapital Allocation

SignalContext dependent

VolatilityStable

First reportedQ4 2015

Last reportedQ4 2023

How to read this metric

An increase suggests significant international growth or a strategic choice to reinvest abroad, while a decrease may indicate repatriation of cash to the parent company.

Detailed definition

This represents the cumulative earnings generated by international subsidiaries that have been retained for reinvestment...

Peer comparison

Common among multinational technology firms with significant global operations and complex tax structures.

Metric ID: undistributed_foreign_earnings

Historical Data

4 periods

	Q4 '22	Q4 '23	Q4 '24	Q4 '25
Value	$429.00M	$302.00M	$405.00M	$490.00M
QoQ Change	—	-29.6%	+34.1%	+21.0%
YoY Change	—	-29.6%	+34.1%	+21.0%

Range$302.00M – $490.00M

Avg YoY Growth+8.5%

Median YoY Growth+21.0%

Current Streak2 quarters growth