Morgan Stanley (MS) FY2023 results: revenue $54.1 billion, up 0.9% on the year
Morgan Stanley (MS) reported revenue of $54.1 billion for fiscal 2023, the year ended 31 December 2023, up 0.9% on the year before. Net income was $9.1 billion, down 17.6%, and diluted earnings per share $5.18. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2024.
Revenue
$54.1 billion
+0.9% on the year
FY2016FY2023
Operating margin
n/a
FY2016FY2023
Net income
$9.1 billion
-17.6% on the year
FY2016FY2023
Diluted EPS
$5.18
-15.8% on the year
FY2016FY2023
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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
-33,536
-6,397
33,971
Capital expenditure
3,412
3,078
2,308
+10.9%
Free cash flow
-36,948
-9,475
31,663
Free cash flow margin
-68.2%
-17.7%
53.0%
Cash from investing
-3,084
-11,632
-49,897
Cash from financing
-2,726
22,714
41,547
Depreciation and amortisation
4,256
3,998
4,216
+6.5%
Share-based compensation
1,709
1,875
2,085
-8.9%
Dividends paid
5,763
5,401
4,171
+6.7%
Dividend per share
$3.25
$2.95
$2.10
+10.2%
Diluted shares, weighted
1,646m
1,713m
1,814m
-3.9%
Shares outstanding at period end
1,627m
1,675m
1,772m
-2.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
99,038
100,141
105,441
-1.1%
Non-controlling interest
944
1,090
1,157
-13.4%
Deposits
351,804
356,646
347,574
-1.4%
Debt
263,732
238,058
233,127
+10.8%
Other liabilities
478,175
484,296
500,841
-1.3%
Total liabilities and equity
1,193,693
1,180,231
1,188,140
+1.1%
Goodwill
16,707
16,652
16,833
+0.3%
Intangible assets
7,055
7,618
8,360
-7.4%
Securities held for sale or to maturity
154,807
159,931
205,345
-3.2%
Loans
203,385
198,997
174,302
+2.2%
Securities borrowed
121,091
133,374
129,713
-9.2%
Cash and equivalents
89,232
128,127
127,725
-30.4%
Other assets
601,416
535,532
525,862
+12.3%
Total assets
1,193,693
1,180,231
1,188,140
+1.1%
10-K for the year ended 31 December 2023, filed 22 February 2024: the filing.