Morgan Stanley (MS) Rent Expense (2009 - 2026)

Morgan Stanley (MS) has reported Rent Expense for 18 consecutive years, with $483.0 million the latest figure, recorded in Q1 2026.

• In Q1 2026, Rent Expense rose 7.57% year-over-year to $483.0 million; the TTM figure through Mar 2026 stood at $1.9 billion (changed 0.37% YoY), while the FY2025 annual figure was $1.9 billion, down 1.73% from the prior year.
• Rent Expense fell to $483.0 million in Q1 2026 per MS's latest filing, from $491.0 million in the prior quarter.
• Across five years, Rent Expense topped out at $528.0 million in Q4 2023 and bottomed at $427.0 million in Q1 2022.
• Historically, Rent Expense has averaged $463.8 million across 5 years, with a median of $459.0 million in 2025.
• Annual changes were most pronounced in 2022 — Rent Expense declined 7.52% — and 2023, when it rose 19.19%.
• Morgan Stanley's Rent Expense stood at $443.0 million in 2022, then increased by 19.19% to $528.0 million in 2023, then fell by 0.19% to $527.0 million in 2024, then dropped by 6.83% to $491.0 million in 2025, then fell by 1.63% to $483.0 million in 2026.
• Business Quant data shows MS's Rent Expense at $483.0 million in Q1 2026, $491.0 million in Q4 2025, and $473.0 million in Q3 2025.