MORGAN STANLEY FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $70.6B |
| Gross margin | — not reported |
| Operating income | — not reported |
| Net income | $16.9B |
| Diluted EPS | $10.21 |
| Cash & equivalents | $111.7B |
| Total assets | $1.42T |
| Long-term debt | $341.7B |
Key takeaway
Morgan Stanley reported $70.6 billion in revenue and $16.9 billion in net income for fiscal 2025, translating to diluted EPS of $10.21.
🔒 4 more takeaways in the full analysis
Beneath the surface
Cash and equivalents of $111.7 billion plus available-for-sale securities do not come close to offsetting $341.7-348.9 billion in long-term and combined debt, underscoring the firm's structural reliance on debt funding typical of large broker-dealers.
🔒 3 more insights a headline reader would miss
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