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MORGAN STANLEY

For the period ended Sep 30, 2025. Filed Nov 3, 2025.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 3, 2025

MS$187.56+0.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Balance Sheet (Unaudited at

Table of Contents

Consolidated Balance Sheet

$ in millions, except share data(Unaudited)AtSeptember 30,2025AtDecember 31,2024
Assets
Cash and cash equivalents$103,734$105,386
Trading assets at fair value ($199,429 and $148,945 pledged as collateral)423,823331,884
Investment securities:
Available-for-sale at fair value (amortized cost of $110,695 and $101,960)108,32798,608
Held-to-maturity (fair value of $47,369 and $51,203)55,20561,071
Securities purchased under agreements to resell (includes $— and $— at fair value)111,734118,565
Securities borrowed129,113123,859
Customer and other receivables113,25786,158
Loans:
Held for investment (net of allowance for credit losses of $1,213 and $1,066)255,867225,834
Held for sale11,43312,319
Goodwill16,72516,706
Intangible assets (net of accumulated amortization of $1,798 and $5,445)6,0976,453
Other assets29,49128,228
Total assets$1,364,806$1,215,071
Liabilities
Deposits (includes $8,477 and $6,499 at fair value)$405,480$376,007
Trading liabilities at fair value162,408153,764
Securities sold under agreements to repurchase (includes $703 and $956 at fair value)61,50450,067
Securities loaned15,94415,226
Other secured financings (includes $16,687 and $14,088 at fair value)21,44121,602
Customer and other payables226,445175,938
Other liabilities and accrued expenses28,85428,220
Borrowings (includes $127,285 and $103,332 at fair value)331,679288,819
Total liabilities1,253,7551,109,643
Commitments and contingent liabilities (see Note 13)
Equity
Morgan Stanley shareholders’ equity:
Preferred stock9,7509,750
Common stock, $0.01 par value:
Shares authorized: 3,500,000,000; Shares issued: 2,038,893,979; Shares outstanding: 1,591,091,689 and 1,606,653,7062020
Additional paid-in capital30,73030,179
Retained earnings112,426104,989
Employee stock trusts5,0585,103
Accumulated other comprehensive income (loss)(6,346)(6,814)
Common stock held in treasury at cost, $0.01 par value (447,802,290 and 432,240,273 shares)(36,618)(33,613)
Common stock issued to employee stock trusts(5,058)(5,103)
Total Morgan Stanley shareholders’ equity109,962104,511
Noncontrolling interests1,089917
Total equity111,051105,428
Total liabilities and equity$1,364,806$1,215,071
September 2025 Form 10-Q40See Notes to Consolidated Financial Statements
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.