Morgan Stanley (MS) FY2021 results: revenue $59.8 billion, up 22.6% on the year
Morgan Stanley (MS) reported revenue of $59.8 billion for fiscal 2021, the year ended 31 December 2021, up 22.6% on the year before. Net income was $15.0 billion, up 36.7%, and diluted earnings per share $8.03. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2022.
Revenue
$59.8 billion
+22.6% on the year
FY2014FY2021
Operating margin
n/a
FY2014FY2021
Net income
$15.0 billion
+36.7% on the year
FY2014FY2021
Diluted EPS
$8.03
+24.3% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
33,971
-25,231
40,773
Capital expenditure
2,308
1,444
1,826
+59.8%
Free cash flow
31,663
-26,675
38,947
Free cash flow margin
53.0%
-54.7%
93.8%
Cash from investing
-49,897
-37,898
-33,561
Cash from financing
41,547
83,784
-11,966
-50.4%
Depreciation and amortisation
4,216
3,769
2,643
+11.9%
Share-based compensation
2,085
1,312
1,153
+58.9%
Dividends paid
4,171
2,739
2,627
+52.3%
Dividend per share
$2.10
$1.40
$1.30
+50.0%
Diluted shares, weighted
1,814m
1,624m
1,640m
+11.7%
Shares outstanding at period end
1,772m
1,810m
1,594m
-2.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
105,441
101,781
81,549
+3.6%
Non-controlling interest
1,157
1,368
1,148
-15.4%
Deposits
347,574
310,782
190,356
+11.8%
Debt
233,127
217,079
192,627
+7.4%
Other liabilities
500,841
484,852
429,749
+3.3%
Total liabilities and equity
1,188,140
1,115,862
895,429
+6.5%
Goodwill
16,833
11,635
7,143
+44.7%
Intangible assets
8,360
4,980
2,107
+67.9%
Securities held for sale or to maturity
205,345
110,383
62,223
+86.0%
Loans
174,302
n/a
130,637
Securities borrowed
129,713
112,391
106,549
+15.4%
Cash and equivalents
127,725
105,654
82,171
+20.9%
Other assets
525,862
770,819
504,599
-31.8%
Total assets
1,188,140
1,115,862
895,429
+6.5%
10-K for the year ended 31 December 2021, filed 24 February 2022: the filing.