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FRed Flag

Morgan Stanley(MS)

F

Financial data as of Dec 31, 2025Declining · Financials

FCF Margin-31.5%Free Cash Flow / Revenue
Cash Conversion-106.1%Operating CF / Net Income
Free Cash Flow-$20.8B
Revenue$66.0B
Net Cash-$289.2BNet debt position
Debt / FCFN/AElevated debt burden
Current Ratio0.00Tight short-term liquidity
YoY FCF Growth-128.6%2 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseF
→
-1Current ratio below 1.0 (0.00)
→
-1Negative FCF in 3 of last 4 quarters
→
-1Significant YoY FCF decline (-128.6%)
→
-1Only 2 positive quarters recently
→
-0.5Highly volatile FCF (consistency: 6.64)
→
FinalF

Analysis Summary

Concerns

  • Negative FCF margin (-31.5%)
  • Net debt position ($289.2B)
  • Current ratio below 1.0 — tight short-term liquidity
  • Only 2 positive FCF quarters recently
  • Significant YoY FCF decline (-128.6%)
  • Highly volatile quarterly FCF

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin-31.5%
Net Margin25.6%
Operating CF Margin-27.1%
CapEx Ratio4.4%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$289.2BNet debt position
Debt / FCFN/AElevated debt burden
Current Ratio0.00Tight liquidity
Debt / Equity3.64High leverage

Quarterly FCF Trend

-128.6% YoYDeclining (-128.6%)

Free cash flow per quarter

Sector Comparison — Financials

FCF Margin ranked against sector peers

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Detailed Metrics

Company NameMorgan Stanley
SectorFinancials
Free Cash Flow-$20.8B
Revenue$66.0B
Net Income$16.9B
Operating Cash Flow-$17.9B
Capital Expenditure$2.9B
FCF Margin-31.5%
Cash Conversion Rate-106.1%
Net Margin25.6%
Total Debt$370.5B
Total Cash$81.3B
Net Cash-$289.2B
Current Ratio0.00
Debt / Equity3.64
Debt / FCFN/A
YoY FCF Growth-128.6%
Positive Quarters2 of 5
Trend DirectionDeclining
Report DateDec 31, 2025
GradeF
Data SourceYahoo Finance

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