What changed in Morgan Stanley's latest annual report
In the year ended 31 Dec 2025, Morgan Stanley's net income rose 25.9% to USD 16.86bn, from USD 13.39bn; long-term debt rose 20.2% to USD 341.68bn, from USD 284.31bn; total liabilities rose 17.8% to USD 1.31tn, from USD 1.11tn.
Year ended 31 Dec 2025. Source: 10-K filed 19 Feb 2026, read it on SEC EDGAR.
USD 13.39bn to USD 16.86bn
The figures, year on year
| Item | Year before | Latest year | Change |
|---|---|---|---|
| Net income | 13.39bn | 16.86bn | Up 25.9% |
| Total assets | 1.22tn | 1.42tn | Up 16.9% |
| Total liabilities | 1.11tn | 1.31tn | Up 17.8% |
| Long-term debt | 284.31bn | 341.68bn | Up 20.2% |
| Cash and cash equivalents | 105.39bn | 111.69bn | Up 6% |
| Shareholders' equity | 104.51bn | 111.63bn | Up 6.8% |
Questions people ask
Is Morgan Stanley profitable?
Yes. Net income was USD 16.86bn in the year ended 31 Dec 2025. The year before: USD 13.39bn.
How much cash and debt does Morgan Stanley have?
At its latest year end (31 Dec 2025), Morgan Stanley reported cash and cash equivalents of USD 111.69bn and long-term debt of USD 341.68bn.
Where do these numbers come from?
From Morgan Stanley's own annual filings with the SEC. Each change is calculated from the reported figures; nothing is estimated.
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