Morgan Stanley

MS

Morgan Stanley

Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Morgan Stanley.

R40: -21 · 2026 Q1 $334.57B
$210.42
Rule of 40 2026 Q1
-21.2
✗ Below 40
Revenue Growth YoY +16.9%
+
FCF Margin -38.2%
History
-124
Q1
78
Q2
-3
Q3
-7
Q4
2025 R40 -15
-21
Q1
ANALYST RATINGS
Avg target withheld — over 90 days old
Latest analyst action Feb 10, 2026
MS
BMO Capital Markets
Outperform $180
Initiated
2025-10-03
Keefe Bruyette
Outperform $160
Upgrade
2025-07-09
Wells Fargo
Equal Weight $142
Upgrade
2024-11-15
HSBC Securities
Buy $118
Upgrade
2024-10-04
Wells Fargo
Underweight $95
Downgrade
2024-08-02

See all 14 ratings →

Company timeline

Earnings release dates

Quarter End date Publication date Release
2026 Q2 2026-06-30 2026-07-15 Details →
2026 Q1 2026-03-31 2026-04-15 Details →
2025 Q4 2025-12-31 2026-01-15 Details →
2025 Q3 2025-09-30 2025-10-15 Details →
2025 Q2 2025-06-30 2025-07-16 Details →
2025 Q1 2025-03-31 2025-04-11 Details →
2024 Q4 2024-12-31 2025-01-16 Details →
2024 Q3 2024-09-30 2024-10-16 Details →
2024 Q2 2024-06-30 2024-07-16 Details →
2024 Q1 2024-03-31 2024-04-16 Details →

All MS earnings →

Background

Company History

Exchange
NYSE
IPO Date
Mar 21, 1986
Shares Outstanding
1.59B
1935
Founding as Morgan Stanley

Spun off from J.P. Morgan to focus on investment banking under Glass-Steagall; establishes elite underwriting reputation.

1980
Expansion into Mergers & Acquisitions

Pioneers modern M&A advisory; handles landmark deals, shifting narrative to strategic advisor for corporations.

1997
Merger with Dean Witter Discover

Combines investment banking with retail brokerage/credit cards; creates diversified model and sets stage for wealth management scale.

2008
Financial Crisis and Bank Holding Company Conversion

Converts to bank holding company for stability; acquires Smith Barney from Citi; navigates crisis with government support.

2013
Full Acquisition of Smith Barney

Gains full control of wealth management joint venture; builds leading wealth franchise, diversifying revenue beyond volatile IB.

2020
Acquisition of E*TRADE

$13B deal adds digital brokerage platform; accelerates retail investor access and boosts wealth management assets.

2021
Acquisition of Eaton Vance

$7B purchase expands asset/wealth management; enhances investment capabilities, reinforcing 'integrated firm' strategy.

2025
Record Performance and Integrated Firm Evolution

Record $70.6B revenue, strong IB rebound, wealth dominance; CEO Ted Pick leads resilient, diversified powerhouse.

Leadership

Key Players

Ted Pick
Chairman & CEO
CEO since Jan 2024, Chairman since Jan 2025. Joined in 1990. Engineered Fixed Income turnaround. Former Head of Institutional Securities. Middlebury BA, Harvard MBA.
Andy Saperstein
Co-President & Head of Wealth Management
Co-President since 2021. Heads Wealth & Investment Management. Joined via Smith Barney in 2006. Former McKinsey partner. Harvard Law JD, Wharton/Penn dual degree.
Dan Simkowitz
Co-President & Head of Institutional Securities
Co-President since Jan 2024. Oversees Investment Banking, Equities, Fixed Income, Global Capital Markets. Long-standing institutional business leader.
Sharon Yeshaya
EVP & CFO
CFO since June 2021. Started as M&A analyst at Morgan Stanley. Former Head of Investor Relations. Wharton/Penn dual degree summa cum laude. NewYork-Presbyterian board.
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