Morgan Stanley annual return on equity
2008
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2024
2025
Morgan Stanley Return on Equity (ROE) Growth & History (MS)
Morgan Stanley's return on equity was 15.60% for fiscal 2025.
View full Morgan Stanley company overviewMorgan Stanley annual return on equity history
| Fiscal year | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 15.60% | +2.45 pp |
| 2024 | 2024-12-31 | 13.16% | +4.03 pp |
| 2023 | 2023-12-31 | 9.12% | −1.61 pp |
| 2022 | 2022-12-31 | 10.73% | −3.78 pp |
| 2021 | 2021-12-31 | 14.51% | +2.51 pp |
| 2020 | 2020-12-31 | 12.00% | +0.82 pp |
| 2019 | 2019-12-31 | 11.18% | +0.08 pp |
| 2018 | 2018-12-31 | 11.10% | +3.13 pp |
| 2017 | 2017-12-31 | 7.97% | +0.06 pp |
| 2016 | 2016-12-31 | 7.91% | −0.48 pp |
| 2015 | 2015-12-31 | 8.39% | +3.32 pp |
| 2014 | 2014-12-31 | 5.07% | +0.49 pp |
| 2013 | 2013-12-31 | 4.58% | +4.47 pp |
| 2012 | 2012-12-31 | 0.11% | −6.78 pp |
| 2011 | 2011-12-31 | 6.89% | −2.16 pp |
| 2010 | 2010-12-31 | 9.05% | +6.29 pp |
| 2009 | 2009-12-31 | 2.76% | — |
| 2008 | 2008-11-30 | 4.08% | — |
Morgan Stanley quarterly return on equity
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| Fiscal quarter | Period ended | Return on equity | Change (percentage points) |
|---|---|---|---|
| Q2 2026 | 2026-06-30 | 4.84% | +1.55 pp |
| Q1 2026 | 2026-03-31 | 4.93% | +0.84 pp |
| Q4 2025 | 2025-12-31 | 3.97% | +0.40 pp |
| Q3 2025 | 2025-09-30 | 4.23% | +1.11 pp |
| Q2 2025 | 2025-06-30 | 3.29% | +0.21 pp |
| Q1 2025 | 2025-03-31 | 4.08% | +0.64 pp |
| Q4 2024 | 2024-12-31 | 3.57% | +2.04 pp |
| Q3 2024 | 2024-09-30 | 3.12% | +0.71 pp |
| Q2 2024 | 2024-06-30 | 3.08% | +0.91 pp |
| Q1 2024 | 2024-03-31 | 3.44% | +0.48 pp |
| Q4 2023 | 2023-12-31 | 1.53% | −0.69 pp |
| Q3 2023 | 2023-09-30 | 2.41% | −0.19 pp |
| Q2 2023 | 2023-06-30 | 2.17% | −0.27 pp |
| Q1 2023 | 2023-03-31 | 2.97% | −0.55 pp |
| Q4 2022 | 2022-12-31 | 2.22% | −1.27 pp |
| Q3 2022 | 2022-09-30 | 2.60% | −0.89 pp |
| Q2 2022 | 2022-06-30 | 2.44% | −0.85 pp |
| Q1 2022 | 2022-03-31 | 3.52% | −0.44 pp |
| Q4 2021 | 2021-12-31 | 3.50% | −0.06 pp |
| Q3 2021 | 2021-09-30 | 3.48% | +0.38 pp |
| Q2 2021 | 2021-06-30 | 3.29% | −0.41 pp |
| Q1 2021 | 2021-03-31 | 3.96% | +1.93 pp |
| Q4 2020 | 2020-12-31 | 3.56% | +0.83 pp |
| Q3 2020 | 2020-09-30 | 3.10% | +0.46 pp |
| Q2 2020 | 2020-06-30 | 3.71% | +1.00 pp |
| Q1 2020 | 2020-03-31 | 2.03% | −0.99 pp |
| Q4 2019 | 2019-12-31 | 2.73% | +0.81 pp |
| Q3 2019 | 2019-09-30 | 2.65% | −0.03 pp |
| Q2 2019 | 2019-06-30 | 2.71% | −0.39 pp |
| Q1 2019 | 2019-03-31 | 3.02% | −0.42 pp |
| Q4 2018 | 2018-12-31 | 1.93% | +1.10 pp |
| Q3 2018 | 2018-09-30 | 2.68% | +0.42 pp |
| Q2 2018 | 2018-06-30 | 3.10% | +0.86 pp |
| Q1 2018 | 2018-03-31 | 3.43% | +0.93 pp |
| Q4 2017 | 2017-12-31 | 0.82% | −1.35 pp |
| Q3 2017 | 2017-09-30 | 2.26% | +0.19 pp |
| Q2 2017 | 2017-06-30 | 2.24% | +0.18 pp |
| Q1 2017 | 2017-03-31 | 2.51% | +1.01 pp |
| Q4 2016 | 2016-12-31 | 2.17% | +0.97 pp |
| Q3 2016 | 2016-09-30 | 2.07% | +0.72 pp |
| Q2 2016 | 2016-06-30 | 2.07% | −0.41 pp |
| Q1 2016 | 2016-03-31 | 1.50% | — |
| Q4 2015 | 2015-12-31 | 1.21% | +3.47 pp |
| Q3 2015 | 2015-09-30 | 1.35% | −1.00 pp |
| Q2 2015 | 2015-06-30 | 2.48% | −0.28 pp |
| Q4 2014 | 2014-12-31 | −2.27% | −2.39 pp |
| Q3 2014 | 2014-09-30 | 2.36% | +0.94 pp |
| Q2 2014 | 2014-06-30 | 2.76% | +1.20 pp |
| Q1 2014 | 2014-03-31 | 2.26% | +0.72 pp |
| Q4 2013 | 2013-12-31 | 0.13% | −0.83 pp |
| Q3 2013 | 2013-09-30 | 1.41% | +3.05 pp |
| Q2 2013 | 2013-06-30 | 1.56% | +0.61 pp |
| Q1 2013 | 2013-03-31 | 1.54% | +1.69 pp |
| Q4 2012 | 2012-12-31 | 0.96% | +1.36 pp |
| Q3 2012 | 2012-09-30 | −1.64% | −5.26 pp |
| Q2 2012 | 2012-06-30 | 0.94% | −1.08 pp |
| Q1 2012 | 2012-03-31 | −0.15% | −1.83 pp |
| Q4 2011 | 2011-12-31 | −0.40% | −1.87 pp |
| Q3 2011 | 2011-09-30 | 3.62% | +3.38 pp |
| Q2 2011 | 2011-06-30 | 2.02% | −1.92 pp |
| Q1 2011 | 2011-03-31 | 1.68% | −2.06 pp |
| Q4 2010 | 2010-12-31 | 1.47% | +0.14 pp |
| Q3 2010 | 2010-09-30 | 0.24% | −1.39 pp |
| Q2 2010 | 2010-06-30 | 3.95% | +3.64 pp |
| Q1 2010 | 2010-03-31 | 3.74% | — |
| Q4 2009 | 2009-12-31 | 1.33% | — |
| Q3 2009 | 2009-09-30 | 1.63% | — |
| Q2 2009 | 2009-06-30 | 0.31% | — |
Morgan Stanley return on equity trends
Over the last five fiscal years, Morgan Stanley's return on equity increased from 12.00% to 15.60%, a change of +3.61 percentage points. The latest reported quarter, Q2 2026, shows 4.84%.
About the metric
What return on equity (ROE) means
Return on equity (ROE) measures how much net income a company generates relative to shareholders’ equity. It can help evaluate how efficiently equity capital is used, but unusually high or negative values may reflect leverage, losses, or a small equity base.
Calculation and source
How return on equity is calculated
TickerStat calculates ROE as SEC-reported net income divided by average stockholders’ equity at the beginning and end of the fiscal period. Periods with missing or non-positive average equity are omitted. Quarterly ROE uses quarterly net income and is not annualized. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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