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Morgan Stanley (MS) Rent Expense (2016 - 2025)

Morgan Stanley (MS) has disclosed Rent Expense for 17 consecutive years, with $491.0 million as the latest value for Q4 2025.

  • On a quarterly basis, Rent Expense fell 6.83% to $491.0 million in Q4 2025 year-over-year; TTM through Dec 2025 was $1.9 billion, a 1.73% decrease, with the full-year FY2025 number at $1.9 billion, down 1.73% from a year prior.
  • Rent Expense was $491.0 million for Q4 2025 at Morgan Stanley, up from $473.0 million in the prior quarter.
  • In the past five years, Rent Expense ranged from a high of $528.0 million in Q4 2023 to a low of $405.0 million in Q1 2021.
  • A 5-year average of $456.3 million and a median of $452.5 million in 2023 define the central range for Rent Expense.
  • Peak YoY movement for Rent Expense: decreased 7.52% in 2022, then rose 19.19% in 2023.
  • Morgan Stanley's Rent Expense stood at $479.0 million in 2021, then dropped by 7.52% to $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.
  • 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).