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Morgan Stanley (MS) Rent Expense (2016 - 2026)

Morgan Stanley has reported Rent Expense over the past 17 years, most recently at $491.0 million for Q4 2025.

  • Quarterly Rent Expense fell 6.83% to $491.0 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $1.9 billion through Dec 2025, down 1.73% year-over-year, with the annual reading at $1.9 billion for FY2025, 1.73% down from the prior year.
  • Rent Expense was $491.0 million for Q4 2025 at Morgan Stanley, up from $473.0 million in the prior quarter.
  • Over five years, Rent Expense peaked at $528.0 million in Q4 2023 and troughed at $405.0 million in Q1 2021.
  • The 5-year median for Rent Expense is $452.5 million (2023), against an average of $456.3 million.
  • Year-over-year, Rent Expense decreased 7.52% in 2022 and then rose 19.19% in 2023.
  • A 5-year view of Rent Expense shows it stood at $479.0 million in 2021, then fell by 7.52% to $443.0 million in 2022, then grew by 19.19% to $528.0 million in 2023, then decreased by 0.19% to $527.0 million in 2024, then fell by 6.83% to $491.0 million in 2025.
  • Per Business Quant, the three most recent readings for MS's Rent Expense are $491.0 million (Q4 2025), $473.0 million (Q3 2025), and $459.0 million (Q2 2025).