Morgan Stanley MS
- Employees
- 83,000
- Headquarters
- New York, NY
- CEO
- Edward Pick
- Next results
- around Jan 14, 2027
What changed
9 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 19, 2026 against Feb 21, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
8 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 7 checks found nothing to note
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Critical audit matters changedNew this year: Our audit procedures related to the valuation of Level 3 financial assets and Level 3 trading liabilities, borrowings, other secured (“borrowings, and securities sold under agreements to repurchase carried at fair value on a recurring basis and Level 3 loans held for sale included the following, among others:”)
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Same auditor in both 10-Ks: Deloitte & Touche LLP
6 more checks with nothing to note
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
9 paragraphs in Risk Factors that were not in the 10-K filed Feb 21, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
Our businesses and operations may also be adversely impacted by inadequate data quality management processes, including failure to meet defined expectations related to the appropriate completeness, timeliness and accuracy of data in reports, models or other data deliverables.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
Firm initiatives, which may heighten the potential conflicts of interest or the risk of improper sharing of information.
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Item 1A · new paragraph · not in the 10-K filed Feb 21, 2025 10-K, ITEM 1A
As a U.S. company, we are required to comply with the economic sanctions and embargo programs administered by OFAC and similar multinational bodies and governmental
New risk paragraphs, against peers
Latest 10-K of each, Financials companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
From the same starting line, FY2016 to FY2025
Revenue, net income and free cash flow, each set to 100 in FY2016. What happened, from the 10-Ks. Not a forecast.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $53.7B | $54.1B | $61.8B | $70.6B |
| Net income | $11.0B | $9.1B | $13.4B | $16.9B |
| Operating cash flow | −$6.4B | −$33.5B | $1.4B | −$17.9B |
Revenue, FY2016 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$70.6B ▲ 14.4% in FY2025$16.9B ▲ 25.9% in FY2025
Recent filings
1 filing in the last 30 days · SEC EDGAR
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10-QNov 5, 2026Quarterly report (10-Q) period ended Sep 30, 2026
About the company
Morgan Stanley, New York, NY · from the 10-K filed Feb 19, 2026
- Headquarters
- New York, NY
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Oct 14, 2026
- Incorporated in
- DE
Employees, at the top of the page: "As of December 31, 2025, we had approximately 83 thousand employees across 42 countries, whom we depend upon to drive the value Morgan Stanley delivers to our clients and shareholders worldwide" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Feb 19, 2026 (open at SEC), compared with the 10-K filed Feb 21, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/MS/export.csv") into a cell.