Morgan Stanley Stock Earnings Reports

Morgan Stanley delivered a very strong Q3 2025: revenues of $18.2B, EPS $2.80 and ROTCE 23.5%, reflecting operating leverage across its integrated model. Total client assets reached $8.9T (up $1.3T YoY). Institutional Securities led with $8.5B revenue driven by a resurgent investment banking (IB) environment — IB revenues $2.1B, equity underwriting up ~80% and advisory improving — and a best-in-class equities franchise ($4.1B). Wealth Management posted record revenue (> $8B), margins ~30%, $81B net new assets and strong fee-based flows; bank lending and NII increased with deposits at $398B. Investment Management hit record AUM $1.8T with $16.5B long-term net inflows (Parametric a major driver). Balance sheet and capital: standardized CET1 15.2%, excess CET1 capital of >300 bps, opportunistic buybacks of $1.1B and a $1/share quarterly dividend (priority on continued dividend growth). Management emphasized continued investments in AI and strategic partnerships (DevGen, LeadIQ, Carta, Zero Hash) to drive productivity, client acquisition and new product capabilities. Outlook: management is constructive — describes a “capital markets flywheel” with active pipelines across regions — but remains appropriately cautious about geopolitical/economic uncertainty; capital deployment preference is organic investment in the integrated franchise, with selective M&A only if strategy, culture, timing and price align.