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Morgan Stanley (MS) Operating Expenses (2016 - 2025)

Morgan Stanley (MS) has disclosed Operating Expenses for 17 consecutive years, with $1.7 billion as the latest value for Q4 2025.

  • On a quarterly basis, Operating Expenses fell 85.26% to $1.7 billion in Q4 2025 year-over-year; TTM through Dec 2025 was $37.9 billion, a 13.71% decrease, with the full-year FY2025 number at $6.3 billion, down 85.67% from a year prior.
  • Operating Expenses was $1.7 billion for Q4 2025 at Morgan Stanley, down from $12.2 billion in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $12.2 billion in Q3 2025 to a low of $1.4 billion in Q4 2022.
  • A 5-year average of $9.7 billion and a median of $10.5 billion in 2021 define the central range for Operating Expenses.
  • Peak YoY movement for Operating Expenses: plummeted 85.72% in 2022, then surged 684.67% in 2023.
  • Morgan Stanley's Operating Expenses stood at $9.6 billion in 2021, then tumbled by 85.72% to $1.4 billion in 2022, then soared by 684.67% to $10.8 billion in 2023, then rose by 3.75% to $11.2 billion in 2024, then plummeted by 85.26% to $1.7 billion in 2025.
  • Per Business Quant, the three most recent readings for MS's Operating Expenses are $1.7 billion (Q4 2025), $12.2 billion (Q3 2025), and $12.0 billion (Q2 2025).