Morgan Stanley Q3 2026 net revenues $20.3B (+12% YoY), EPS $3.03, ROTCE 22.6%; Equity trading up 41%

MORGAN STANLEY

Net revenues $20,338M vs $18,224M a year ago; net income applicable to MS $4,909M; diluted EPS $3.03 vs $2.80; ROTCE 22.6% vs 23.5%; ROE 17.8%.
Institutional Securities net revenues $10.0B (+18%); Equity $5.8B (+41%) on strength in Asia; Fixed Income $2.0B (-7%); Investment Banking $2.2B (+2%), Advisory $887M.
Wealth Management record net revenues $9.1B (+10%) with 30.4% pre-tax margin; record net new assets $232.4B (just over half IPO-related) and $80.5B fee-based flows.
Investment Management net revenues fell 12% to $1,459M on reversal of accrued carried interest in a private fund; pre-tax income $259M vs $364M; AUM $2.05T.
Board declared $1.15/share dividend payable Nov 13, 2026 (record Oct 30); $1.54B buybacks at $212.74 avg; Standardized CET1 14.9%; credit provision $148M vs $0.

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