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Morgan Stanley (MS-PI) Tax Rate (2009 - 2026)

Morgan Stanley (MS-PI) reported Tax Rate of 19.58% for Q1 2026, down 157.0% year-over-year from 34.36% in Q1 2025, and down 15.57% on a QoQ basis from 23.19% in Q4 2025.

Morgan Stanley (MS-PI) has 18 years of Tax Rate data on file, last reported at 19.58% in Q1 2026.

  • Quarterly Tax Rate fell 157.0% year-over-year to 19.58% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 21.9% (down 108.0% YoY) and the FY2025 annual result came in at 22.45%, down 66.0% from the prior year.
  • Tax Rate retreated to 19.58% in Q1 2026 per MS-PI's latest filing, from 23.19% in the prior quarter.
  • Across five years, Tax Rate topped out at 26.48% in Q4 2023 and bottomed at 18.9% in Q4 2022.
  • The 5-year median for Tax Rate is 22.58% (2023), against an average of 22.01%.
  • The widest annual swing landed in 2022, when Tax Rate tumbled 502 bps; it then surged 758 bps in 2023.
  • Tracing MS-PI's Tax Rate over 5 years: stood at 18.9% in 2022, then soared by 40 bps to 26.48% in 2023, then fell by 9 bps to 24.09% in 2024, then declined by 4 bps to 23.19% in 2025, then retreated by 16 bps to 19.58% in 2026.
  • Per Business Quant, the three latest MS-PI Tax Rate figures stand at 19.58% (Q1 2026), 23.19% (Q4 2025), and 22.78% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Tax Rate (Qtr)
1 Morgan Stanley 330.71 Bn 197.18 Bn - 19.58
2 Goldman Sachs 318.59 Bn -618.96 Bn - 13.20
3 Schwab Charles 154.74 Bn 109.76 Bn - 22.24
4 Robinhood Markets 81.79 Bn 77.15 Bn 960.00 Mn 15.82
5 Interactive Brokers 39.54 Bn 50.13 Bn - 9.08
6 Circle Internet 25.60 Bn 24.08 Bn 35.01 Mn 2.47
7 LPL Financial Holdings 22.12 Bn 21.10 Bn - 26.45
8 Iren 21.58 Bn 19.37 Bn 144.76 Mn 2.46
9 Tradeweb Markets 21.29 Bn 20.04 Bn - 23.03
10 Morgan Stanley - - - 19.58

Historic Data

Download Data 🔒
DateValue
Mar 31, 2026 19.58
Mar 31, 2026 19.58
Dec 31, 2025 23.19
Dec 31, 2025 23.19
Sep 30, 2025 22.78
Sep 30, 2025 22.78
Jun 30, 2025 22.65
Jun 30, 2025 22.65
Mar 31, 2025 21.16
Mar 31, 2025 21.16
Dec 31, 2024 24.09
Dec 31, 2024 24.09
Sep 30, 2024 23.57
Sep 30, 2024 23.57
Jun 30, 2024 23.49
Jun 30, 2024 23.49
Mar 31, 2024 21.23
Mar 31, 2024 21.23
Dec 31, 2023 26.48
Dec 31, 2023 26.48
Sep 30, 2023 22.58
Sep 30, 2023 22.58
Jun 30, 2023 21.02
Jun 30, 2023 21.02
Mar 31, 2023 19.34
Mar 31, 2023 19.34
Dec 31, 2022 18.90
Dec 31, 2022 18.90
Sep 30, 2022 21.43
Sep 30, 2022 21.43
Jun 30, 2022 23.59
Jun 30, 2022 23.59
Mar 31, 2022 19.03
Mar 31, 2022 19.03
Dec 31, 2021 23.91
Dec 31, 2021 23.91
Sep 30, 2021 23.59
Sep 30, 2021 23.59
Jun 30, 2021 23.08
Jun 30, 2021 23.08
Mar 31, 2021 22.01
Mar 31, 2021 22.01
Dec 31, 2020 22.98
Dec 31, 2020 22.98
Sep 30, 2020 21.11
Sep 30, 2020 21.11
Jun 30, 2020 25.69
Jun 30, 2020 25.69
Mar 31, 2020 17.05
Mar 31, 2020 17.05
Dec 31, 2019 15.66
Dec 31, 2019 15.66
Sep 30, 2019 18.15
Sep 30, 2019 18.15
Jun 30, 2019 22.63
Jun 30, 2019 22.63
Mar 31, 2019 16.48
Mar 31, 2019 16.48
Dec 31, 2018 16.16
Dec 31, 2018 16.16
Sep 30, 2018 24.41
Sep 30, 2018 24.41
Jun 30, 2018 20.59
Jun 30, 2018 20.59
Mar 31, 2018 20.88
Mar 31, 2018 20.88
Dec 31, 2017 73.25
Dec 31, 2017 73.25
Sep 30, 2017 28.08
Sep 30, 2017 28.08
Jun 30, 2017 32.02
Jun 30, 2017 32.02
Mar 31, 2017 29.02
Mar 31, 2017 29.02
Dec 31, 2016 25.20
Dec 31, 2016 25.20
Sep 30, 2016 31.46
Sep 30, 2016 31.46
Jun 30, 2016 33.55
Jun 30, 2016 33.55
Mar 31, 2016 33.26
Mar 31, 2016 33.26
Dec 31, 2015 34.47
Dec 31, 2015 34.47
Sep 30, 2015 28.70
Sep 30, 2015 28.70
Jun 30, 2015 32.78
Jun 30, 2015 32.78
Mar 31, 2015 13.56
Mar 31, 2015 13.56
Dec 31, 2014 46.16
Dec 31, 2014 46.16
Sep 30, 2014 20.86
Sep 30, 2014 20.86
Jun 30, 2014 0.78
Jun 30, 2014 0.78
Mar 31, 2014 33.12
Mar 31, 2014 33.12
Dec 31, 2013 191.09
Dec 31, 2013 191.09
Sep 30, 2013 26.59
Sep 30, 2013 26.59
Jun 30, 2013 32.03
Jun 30, 2013 32.03
Mar 31, 2013 21.88
Mar 31, 2013 21.88
Dec 31, 2012 1.05
Dec 31, 2012 1.05
Sep 30, 2012 35.43
Sep 30, 2012 35.43
Jun 30, 2012 23.99
Jun 30, 2012 23.99
Mar 31, 2012 26.60
Mar 31, 2012 26.60
Dec 31, 2011 65.35
Dec 31, 2011 65.35
Sep 30, 2011 38.37
Sep 30, 2011 38.37
Jun 30, 2011 27.35
Jun 30, 2011 27.35
Mar 31, 2011 -27.46
Mar 31, 2011 -27.46
Dec 31, 2010 7.56
Dec 31, 2010 7.56
Sep 30, 2010 -1.46
Sep 30, 2010 -1.46
Jun 30, 2010 14.49
Jun 30, 2010 14.49
Mar 31, 2010 17.09
Mar 31, 2010 17.09
Dec 31, 2009 114.83
Dec 31, 2009 114.83
Sep 30, 2009 34.90
Sep 30, 2009 34.90
Jun 30, 2009 54.62
Jun 30, 2009 54.62
Mar 31, 2009 94.44
Mar 31, 2009 94.44