Morgan Stanley Stock Earnings Reports

Morgan Stanley reported a strong start to 2026 with record quarterly results: revenues of $20.6 billion and EPS of $3.43 (ex-DVA), and a ROTCE of ~27%. Institutional Securities delivered record revenues of $10.7 billion (notable strength across banking and markets, with equities at a record $5.1 billion and fixed income at a post-crisis record $3.4 billion). Wealth Management produced record revenues of $8.5 billion, with $118 billion of net new assets (NNA), $54 billion of fee-based flows, rising bank lending balances ($186 billion) and a PBT margin of ~30.4%. Investment Management revenues were $1.5 billion with AUM at $1.9 trillion and positive long-term net flows. Firm-wide client assets exceed $9 trillion (on the path to $10T+). Capital and balance sheet: CET1 ratio 15.1% (vs. requirement 11.8%), opportunistic share repurchases of $1.75 billion, and $15 billion of capital accretion over the last 9 quarters. The firm closed the EquityZen acquisition and launched a limited digital asset pilot. Management emphasized modest private credit exposure (private credit ~1% of WM assets; < $20B of firm AUM), confidence in AI as an augmenting technology (with active pilots), vigilant liquidity/funding improvements tied to a bank reorganization (shifted ~$100B of assets onto the U.S. bank), and constructive but watchful posture on geopolitical and macro uncertainty. Management expects a 2026 tax rate of ~22–23% and views the pending Basel proposals as likely neutral-to-modestly-positive for Morgan Stanley after interplay of reduced G-SIB surcharge and RWA changes. Overall tone: measured confidence, focus on integrated franchise advantages, disciplined capital deployment, continued investments in advisers, technology and product distribution.