Morgan Stanley annual debt-to-equity ratio
2008
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2025
Morgan Stanley Debt-to-Equity Ratio Growth & History (MS)
Morgan Stanley's debt-to-equity ratio was 3.17 for fiscal 2025.
View full Morgan Stanley company overviewMorgan Stanley annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 3.17 | 0.36 | +12.80% |
| 2024 | 2024-12-31 | 2.81 | 0.09 | +3.43% |
| 2023 | 2023-12-31 | 2.72 | 0.29 | +12.01% |
| 2022 | 2022-12-31 | 2.43 | 0.17 | +7.36% |
| 2021 | 2021-12-31 | 2.26 | 0.07 | +3.42% |
| 2020 | 2020-12-31 | 2.19 | −0.24 | −9.73% |
| 2019 | 2019-12-31 | 2.42 | 0.06 | +2.42% |
| 2018 | 2018-12-31 | 2.36 | −0.12 | −5.02% |
| 2017 | 2017-12-31 | 2.49 | 0.31 | +14.20% |
| 2016 | 2016-12-31 | 2.18 | 0.10 | +5.06% |
| 2015 | 2015-12-31 | 2.07 | −0.11 | −5.14% |
| 2014 | 2014-12-31 | 2.19 | −0.18 | −7.43% |
| 2013 | 2013-12-31 | 2.36 | −0.40 | −14.56% |
| 2012 | 2012-12-31 | 2.76 | −0.25 | −8.30% |
| 2011 | 2011-12-31 | 3.01 | −0.41 | −11.87% |
| 2010 | 2010-12-31 | 3.42 | −0.77 | −18.41% |
| 2009 | 2009-12-31 | 4.19 | — | — |
| 2008 | 2008-11-30 | 3.42 | — | — |
Morgan Stanley quarterly debt-to-equity ratio
Q4.08
As of Dec 31, 2008
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| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 3.37 | 0.34 | +11.03% |
| Q1 2026 | 2026-03-31 | 3.25 | 0.39 | +13.71% |
| Q4 2025 | 2025-12-31 | 3.17 | 0.36 | +12.80% |
| Q3 2025 | 2025-09-30 | 3.02 | 0.14 | +4.85% |
| Q2 2025 | 2025-06-30 | 3.04 | 0.31 | +11.23% |
| Q1 2025 | 2025-03-31 | 2.86 | 0.12 | +4.51% |
| Q4 2024 | 2024-12-31 | 2.81 | 0.09 | +3.43% |
| Q3 2024 | 2024-09-30 | 2.88 | 0.39 | +15.46% |
| Q2 2024 | 2024-06-30 | 2.73 | 0.26 | +10.62% |
| Q1 2024 | 2024-03-31 | 2.74 | 0.25 | +10.25% |
| Q4 2023 | 2023-12-31 | 2.72 | 0.29 | +12.01% |
| Q3 2023 | 2023-09-30 | 2.49 | 0.31 | +14.18% |
| Q2 2023 | 2023-06-30 | 2.47 | 0.24 | +10.96% |
| Q1 2023 | 2023-03-31 | 2.48 | 0.25 | +11.10% |
| Q4 2022 | 2022-12-31 | 2.43 | 0.17 | +7.36% |
| Q3 2022 | 2022-09-30 | 2.18 | 0.01 | +0.58% |
| Q2 2022 | 2022-06-30 | 2.23 | 0.13 | +6.15% |
| Q1 2022 | 2022-03-31 | 2.23 | 0.20 | +9.96% |
| Q4 2021 | 2021-12-31 | 2.26 | 0.07 | +3.42% |
| Q3 2021 | 2021-09-30 | 2.17 | −0.13 | −5.74% |
| Q2 2021 | 2021-06-30 | 2.10 | −0.27 | −11.55% |
| Q1 2021 | 2021-03-31 | 2.03 | −0.24 | −10.50% |
| Q4 2020 | 2020-12-31 | 2.19 | −0.24 | −9.73% |
| Q3 2020 | 2020-09-30 | 2.30 | −0.10 | −4.33% |
| Q2 2020 | 2020-06-30 | 2.37 | −0.11 | −4.27% |
| Q1 2020 | 2020-03-31 | 2.27 | −0.15 | −6.22% |
| Q4 2019 | 2019-12-31 | 2.42 | 0.06 | +2.42% |
| Q3 2019 | 2019-09-30 | 2.41 | −0.02 | −0.81% |
| Q2 2019 | 2019-06-30 | 2.48 | 0.05 | +1.94% |
| Q1 2019 | 2019-03-31 | 2.42 | −0.08 | −3.14% |
| Q4 2018 | 2018-12-31 | 2.36 | −0.12 | −5.02% |
| Q3 2018 | 2018-09-30 | 2.43 | −0.02 | −0.63% |
| Q2 2018 | 2018-06-30 | 2.43 | 0.08 | +3.53% |
| Q1 2018 | 2018-03-31 | 2.50 | 0.27 | +12.01% |
| Q4 2017 | 2017-12-31 | 2.49 | 0.31 | +14.20% |
| Q3 2017 | 2017-09-30 | 2.44 | 0.30 | +14.23% |
| Q2 2017 | 2017-06-30 | 2.35 | 0.22 | +10.12% |
| Q1 2017 | 2017-03-31 | 2.23 | 0.07 | +3.43% |
| Q4 2016 | 2016-12-31 | 2.18 | 0.10 | +5.06% |
| Q3 2016 | 2016-09-30 | 2.14 | −0.02 | −0.90% |
| Q2 2016 | 2016-06-30 | 2.13 | −0.02 | −0.79% |
| Q1 2016 | 2016-03-31 | 2.16 | — | — |
| Q4 2015 | 2015-12-31 | 2.07 | −0.11 | −5.14% |
| Q3 2015 | 2015-09-30 | 2.16 | 0.04 | +2.01% |
| Q2 2015 | 2015-06-30 | 2.15 | 0.01 | +0.49% |
| Q4 2014 | 2014-12-31 | 2.19 | −0.18 | −7.43% |
| Q3 2014 | 2014-09-30 | 2.11 | −0.35 | −14.04% |
| Q2 2014 | 2014-06-30 | 2.14 | −0.45 | −17.37% |
| Q1 2014 | 2014-03-31 | 2.31 | −0.36 | −13.46% |
| Q4 2013 | 2013-12-31 | 2.36 | −0.40 | −14.56% |
| Q3 2013 | 2013-09-30 | 2.46 | −0.30 | −10.91% |
| Q2 2013 | 2013-06-30 | 2.59 | −0.12 | −4.26% |
| Q1 2013 | 2013-03-31 | 2.67 | −0.19 | −6.79% |
| Q4 2012 | 2012-12-31 | 2.76 | −0.25 | −8.30% |
| Q3 2012 | 2012-09-30 | 2.76 | −0.34 | −11.11% |
| Q2 2012 | 2012-06-30 | 2.70 | −0.64 | −19.19% |
| Q1 2012 | 2012-03-31 | 2.87 | −0.56 | −16.33% |
| Q4 2011 | 2011-12-31 | 3.01 | −0.41 | −11.87% |
| Q3 2011 | 2011-09-30 | 3.10 | −0.43 | −12.20% |
| Q2 2011 | 2011-06-30 | 3.34 | −0.31 | −8.60% |
| Q1 2011 | 2011-03-31 | 3.43 | −0.56 | −14.07% |
| Q4 2010 | 2010-12-31 | 3.42 | −0.77 | −18.41% |
| Q3 2010 | 2010-09-30 | 3.54 | −0.76 | −17.78% |
| Q2 2010 | 2010-06-30 | 3.66 | −0.42 | −10.21% |
| Q1 2010 | 2010-03-31 | 3.99 | — | — |
| Q4 2009 | 2009-12-31 | 4.19 | 0.30 | +7.62% |
| Q3 2009 | 2009-09-30 | 4.30 | — | — |
| Q2 2009 | 2009-06-30 | 4.07 | — | — |
| As of Dec 31, 2008 | 2008-12-31 | 3.90 | — | — |
| Q4 2008 | 2008-11-30 | 3.42 | — | — |
Morgan Stanley debt-to-equity ratio trends
Over the last five fiscal years, Morgan Stanley's debt-to-equity ratio increased from 2.19 to 3.17, a change of 0.99. The latest reported quarter, Q2 2026, shows 3.37.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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