A global financial services firm, Morgan Stanley helps corporations, governments, and individual investors raise capital, manage wealth, and trade across markets. Its name comes from its two founders, Henry Sturgis Morgan (grandson of the legendary financier J.P. Morgan) and Harold Stanley, who left the J.P. Morgan partnership in 1935 to start the firm after new law forced a split between commercial and investment banking.
Morgan Stanley raises quarterly dividend to $1.15/share and authorizes $20B buyback
The Board reauthorized a multi-year common equity share repurchase program of up to $20 billion, with no set expiration date, beginning in Q3 2026.
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Morgan Stanley announced a quarterly common stock dividend increase to $1.15 per share from $1.00, starting with the dividend expected to be declared in Q3 2026.
The Federal Reserve's 2026 supervisory stress test results, released June 24, 2026, do not impact Morgan Stanley's Stress Capital Buffer (SCB) requirement.
The company's current SCB requirement of 4.3% is expected to remain in effect until October 1, 2027, per a February 4, 2026 Federal Reserve announcement.
As of March 31, 2026, Morgan Stanley's U.S. Basel III Standardized Approach CET1 ratio was 15.1%, versus an aggregate requirement of 11.8%.
8.01 Other Events · 9.01 Financial Statements and Exhibits
Morgan Stanley shareholders elect all 15 directors, ratify Deloitte, approve executive pay, reject independent chairman proposal at 2026 annual meeting.
At the May 14, 2026 annual meeting, all 15 director nominees were elected, with votes ranging from 1.23B to 1.30B for each nominee.
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Shareholders ratified Deloitte & Touche LLP as independent auditor for fiscal 2026 with 1.37B votes for and 59.1M against.
The non-binding advisory vote on named executive officer compensation passed with 1.25B for, 55.2M against, and 3.9M abstentions.
A shareholder proposal requesting an independent Board Chairman failed, with 355.6M for and 945.0M against.
Broker non-votes of 125.8M were recorded on director elections, executive compensation, and the shareholder proposal, but not on auditor ratification.
5.07 Submission of Matters to a Vote of Security Holders
Morgan Stanley reports record Q1 2026 net revenues of $20.6 billion, EPS of $3.43
Net income applicable to Morgan Stanley was $5.6 billion, or $3.43 per diluted share, versus $4.3 billion, or $2.60 per diluted share, in Q1 2025.
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Net revenues for Q1 2026 were $20.6 billion, up from $17.7 billion a year ago.
Return on tangible common equity was 27.1% (up from 23.0%), and the expense efficiency ratio was 65% (down from 68%).
Institutional Securities net revenues rose to $10.7 billion (record), Wealth Management to $8.5 billion (record), while Investment Management fell to $1.5 billion.
The firm repurchased $1.75 billion of common stock and declared a $1.00 quarterly dividend payable May 15, 2026.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Morgan Stanley sets CEO Edward Pick's 2025 compensation at $45 million
75% of Pick's bonus is deferred over three years, subject to cancellation, and 100% of the deferred bonus is in performance-vested equity awards.
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Morgan Stanley's Compensation Committee set CEO Edward Pick's total 2025 compensation at $45 million, based on his performance in his second year as CEO and first year as Chairman.
The firm reported record 2025 net revenues of $70.6 billion (up ~14% YoY), net income of ~$16.9 billion, and record EPS of $10.21.
Pre-tax profit was $22.0 billion (up ~25% YoY), with full-year ROTCE of 21.6% and an efficiency ratio of 68%.
The standardized CET1 capital ratio was 15.0% at December 31, 2025, and the quarterly dividend was increased to $1.00, with total 2025 dividends of $6.1 billion.
Morgan Stanley reports Q4 2025 net revenues of $17.9B, EPS of $2.68; full-year revenues of $70.6B, EPS of $10.21.
Fourth quarter net revenues were $17.9 billion, up from $16.2 billion a year ago; net income applicable to Morgan Stanley was $4.4 billion, or $2.68 per diluted share, versus $3.7 billion, or $2.22 per diluted share, in the prior year.
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Full year 2025 net revenues were $70.6 billion, up from $61.8 billion in 2024; net income applicable to Morgan Stanley was $16.9 billion, or $10.21 per diluted share, versus $13.4 billion, or $7.95 per diluted share, in 2024.
Full year return on tangible common equity (ROTCE) was 21.6%, and the expense efficiency ratio was 68% versus 71% a year ago.
Wealth Management reported record full-year net revenues of $31.8 billion and a pre-tax margin of 29.3%; total client assets in Wealth and Investment Management grew to $9.3 trillion, with over $350 billion in net new assets.
Institutional Securities full-year net revenues were $33.1 billion, with record Equity results; Investment Banking revenues rose 23% to $7.6 billion.
The Standardized Common Equity Tier 1 capital ratio was 15.0% at year-end 2025.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Earnings8-K
Morgan Stanley reports record Q3 2025 net revenues of $18.2 billion, EPS of $2.80, ROTCE of 23.5%
Net income applicable to Morgan Stanley was $4.6 billion, or $2.80 per diluted share, versus $3.2 billion, or $1.88 per diluted share, in Q3 2024.
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Net revenues for Q3 2025 were $18.2 billion, up from $15.4 billion a year ago.
Institutional Securities net revenues rose to $8.5 billion, with Investment Banking up 44% and Equity up 35%.
Wealth Management net revenues were $8.2 billion with a 30.3% pre-tax margin and $81 billion in net new assets.
The firm repurchased $1.1 billion of common stock and declared a $1.00 quarterly dividend payable November 14, 2025.
The Standardized Common Equity Tier 1 capital ratio was 15.2% as of September 30, 2025.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits