Morgan Stanley Cash Flow Statement
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At close: Oct 9, 4:00 PM ET · Delayed 15 min
Morgan Stanley free cash flow
In fiscal 2025, Morgan Stanley generated -$17.89 billion of operating cash flow. That left free cash flow of -$17.89 billion, a free-cash-flow margin of -25.3% of revenue. Free cash flow was down 1413.4% from the prior year's $1.36 billion.
Morgan Stanley returned $6.59 billion to shareholders through dividends.
Summary generated from market data by MetaCap's automated system. Methodology
Morgan Stanley cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 17.02B | 13.53B | 9.23B | 11.18B | 15.12B | 11.18B | 9.24B | 8.88B | 6.22B | 6.12B |
| Net Income growth (YoY) | +25.84% | +46.58% | -17.43% | -26.06% | +35.25% | +21.02% | +3.99% | +42.91% | +1.52% | -2.48% |
| Depreciation & Amortization | 4.66B | 5.16B | 4.26B | 4.00B | 4.22B | 3.77B | 2.64B | 1.84B | 1.75B | 1.74B |
| Stock-Based Compensation | 1.93B | 1.62B | 1.71B | 1.88B | 2.08B | 1.31B | 1.15B | 920.00M | 1.03B | 1.14B |
| Change in Working Capital | 24.07B | -30.86B | -3.03B | 9.77B | 8.53B | -19.59B | 20.18B | -13.79B | -7.31B | 1.54B |
| Operating Cash Flow | -17.89B | 1.36B | -33.54B | -6.40B | 33.97B | -25.23B | 40.77B | 7.30B | -4.50B | 5.38B |
| Investing Cash Flow | -46.78B | -29.46B | -3.08B | -11.63B | -49.90B | -37.90B | -33.56B | -22.88B | -12.39B | -19.51B |
| Dividends Paid | -6.59B | -6.14B | -5.76B | -5.40B | -4.17B | -2.74B | -2.63B | -2.38B | -2.08B | -1.75B |
| Debt Issued | 139.17B | 108.36B | 78.42B | 72.46B | 90.27B | 60.73B | 30.61B | 40.06B | 55.42B | 43.63B |
| Debt Repaid | -99.39B | -80.23B | -64.81B | -34.90B | -70.12B | -50.48B | -40.55B | -34.78B | -35.83B | -30.39B |
| Financing Cash Flow | 67.76B | 46.76B | -2.73B | 22.71B | 41.55B | 83.78B | -11.97B | 24.20B | 16.26B | 7.36B |
| Net Change in Cash | 6.31B | 16.15B | -38.90B | 402.00M | 22.07B | 23.48B | -5.03B | 6.80B | 3.04B | -8.19B |
| Free Cash Flow | -17.89B | 1.36B | -33.54B | -6.40B | 33.97B | -25.23B | 40.77B | 7.30B | -4.50B | 5.38B |
This table shows 10 annual periods of Morgan Stanley's cash flow statement, from FY 2025 back to FY 2016, across 13 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow MS's reporting calendar. What is a cash flow statement?