MS logo Morgan Stanley +
Morgan Stanley
+
Revenue breakdown by Products & Services
Revenue breakdown by Geography

Morgan Stanley's Revenue by Segment

In fiscal year 2025, Morgan Stanley's revenue by segment (products & services) are as follows:

  • Institutional Securities Segment: $33.08 B
  • Investment Management Segment: $6.53 B
  • Wealth Management Segment: $31.75 B

Learn more about Morgan Stanley’s Revenue by Geography

Check out competitors to Morgan Stanley in a side-by-side comparison.

Explore additional financial metrics for Morgan Stanley.

Continue reading...

The above chart shows Morgan Stanley's revenue percentage share by segment (products and services).

In fiscal year 2023, Morgan Stanley's revenue by segment is as follows:

  • Institutional Securities Segment generated $23.06 B in revenue, representing 42.16% of its total revenue.
  • Investment Management Segment generated $5.37 B in revenue, representing 9.82% of its total revenue.
  • Wealth Management Segment generated $26.27 B in revenue, representing 48.02% of its total revenue.

The biggest segment for Morgan Stanley is the Wealth Management Segment, which represents 48.02% of its total revenue.
The smallest segment for Morgan Stanley is the Investment Management Segment, which represents 9.82% of its total revenue.

The above chart shows Morgan Stanley's revenue percentage share by segment (products and services).

In fiscal year 2024, Morgan Stanley's revenue by segment is as follows:

  • Institutional Securities Segment generated $28.08 B in revenue, representing 45.03% of its total revenue.
  • Investment Management Segment generated $5.86 B in revenue, representing 9.4% of its total revenue.
  • Wealth Management Segment generated $28.42 B in revenue, representing 45.57% of its total revenue.

The biggest segment for Morgan Stanley is the Wealth Management Segment, which represents 45.57% of its total revenue.
The smallest segment for Morgan Stanley is the Investment Management Segment, which represents 9.4% of its total revenue.

The above chart shows Morgan Stanley's revenue percentage share by segment (products and services).

In fiscal year 2025, Morgan Stanley's revenue by segment is as follows:

  • Institutional Securities Segment generated $33.08 B in revenue, representing 46.36% of its total revenue.
  • Investment Management Segment generated $6.53 B in revenue, representing 9.14% of its total revenue.
  • Wealth Management Segment generated $31.75 B in revenue, representing 44.5% of its total revenue.

The biggest segment for Morgan Stanley is the Institutional Securities Segment, which represents 46.36% of its total revenue.
The smallest segment for Morgan Stanley is the Investment Management Segment, which represents 9.14% of its total revenue.
Continue reading...

Summary Table

Products & Services (Percent Share) 2023 2024 2025
Institutional Securities Segment 42.16% 45.03% 46.36%
Investment Management Segment 9.82% 9.4% 9.14%
Wealth Management Segment 48.02% 45.57% 44.5%
Total Revenue 100% 100% 100%

The above chart shows the revenue trend of different segments of Morgan Stanley.

In fiscal year 2025, the Institutional Securities Segment generated the most revenue ($33.08 B), and the Investment Management Segment generated the least revenue ($6.53 B).

The above chart shows growth drivers and a year-over-year comparison of different segments' revenue.

  • Institutional Securities Segment revenue increased 17.81% ($5.00 B) from $28.08 B (in 2024) to $33.08 B (in 2025).
  • Investment Management Segment revenue increased 11.33% ($664.00 M) from $5.86 B (in 2024) to $6.53 B (in 2025).
  • Wealth Management Segment revenue increased 11.73% ($3.33 B) from $28.42 B (in 2024) to $31.75 B (in 2025).
    • Continue reading...

    Summary Table

    Products & Services 2023
    Value Change
    		2024
    Value Change
    		2025
    Value Change
    Institutional Securities Segment $23.06 B - $28.08 B
    21.77%
    		$33.08 B
    17.81%
    Investment Management Segment $5.37 B - $5.86 B
    9.14%
    		$6.53 B
    11.33%
    Wealth Management Segment $26.27 B - $28.42 B
    8.19%
    		$31.75 B
    11.73%
    Total Revenue $88.29 B - $103.15 B
    16.83%
    		$116.11 B
    12.57%

    Frequently Asked Questions

    What was Morgan Stanley's largest product segment last year?

    In fiscal year 2025, Institutional Securities Segment revenue reached $33.08 Billion, representing 46.36% of Morgan Stanley's total revenue and making it the largest segment for the company.

    Which product segment experienced the highest growth for Morgan Stanley last year?

    The Institutional Securities Segment segment is Morgan Stanley's highest growth segment, with a revenue growth of +17.81% in 2025 compared to 2024.

    Related company

    Submit feedback to Bullfincher