Buyback yield (TTM)
3.66%
Shareholder yield (TTM)
6.24%
5Y share count change
-1.9%
Buyback spend (TTM)
$9.46B
Cumulative buybacks
$93.20B
Key takeaways
- Morgan Stanley (MS) repurchased about $9.46B of stock over the trailing twelve months.
- Diluted share count is down 1.9% over the last ~5 fiscal years — buybacks are net-shrinking the share base.
- TTM buyback ÷ stock-based-comp ratio of 4.83× — repurchases more than cover SBC dilution.
- Cash buyback spend has compounded at +25.3% per year over the latest 5-year window.
Dividend & buyback yield over time for Morgan Stanley (MS)
Stacked annual yields — buyback yield (TTM cash repurchases ÷ market cap) plus dividend yield from the same fiscal-year-end key-metrics period — show how total cash return per dollar of equity has evolved.
Diluted vs basic shares (annual) for Morgan Stanley (MS)
Diluted weighted-average shares are the EPS denominator — a falling count means buybacks are outpacing SBC dilution.
Year-over-year change in diluted shares for Morgan Stanley (MS)
Green is fewer shares vs the prior fiscal year (net repurchase); red is growth (dilution). The earliest year shown has no prior year to compare.
Cash buyback spend over time for Morgan Stanley (MS)
Latest: $5.83B
Overview
Morgan Stanley (MS) most recent annual buyback spend stands at $5.83B (2025) – surged 39.0% year-over-year.
Over 2020–2025 (5 years), Morgan Stanley buyback spend expanded at a +25.3% compound annual rate, with mixed annual results across the window.
Morgan Stanley buyback spend plunged from $12.07B in 2021 to $5.83B in 2025, a 51.7% drawdown.
2021 marks the peak buyback spend at $12.07B, with the historical low of $0.00 recorded in 1989.
Morgan Stanley Buyback Spend 2025: $5.83B
In 2025, Morgan Stanley reported buyback spend of $5.83B, surged 39.0% from 2024.
Morgan Stanley Buyback Spend 2024: $4.20B
Morgan Stanley buyback spend in 2024 was $4.20B, plunged 32.0% below 2023.
Morgan Stanley Buyback Spend 2023: $6.18B
2023's buyback spend for Morgan Stanley came in at $6.18B, plunged 43.2% below 2022.
Morgan Stanley Buyback Spend 2022: $10.87B
Morgan Stanley posted buyback spend of $10.87B in 2022, declined 10.0% below 2021.
Morgan Stanley Buyback Spend 2021: $12.07B
Morgan Stanley buyback spend in 2021 was $12.07B.
See more financial history for Morgan Stanley (MS).
Buyback, SBC & dilution history
Buyback spend, SBC, net dilution effect, and share count.
| 2025 | $5.83B | $1.93B | $3.91B | 2.09% | 1.59B | -1.1% | |
| 2024 | $4.20B | $1.62B | $2.58B | 2.11% | 1.61B | -2.1% | |
| 2023 | $6.18B | $1.71B | $4.47B | 4.13% | 1.65B | -3.9% | |
| 2022 | $10.87B | $1.88B | $9.00B | 7.74% | 1.71B | -5.6% | |
| 2021 | $12.07B | $2.08B | $9.99B | 7.03% | 1.81B | +11.7% | |
| 2020 | $1.89B | $1.31B | $578.00M | 1.55% | 1.62B | -1.0% | |
| 2019 | $5.95B | $1.15B | $4.80B | 7.40% | 1.64B | -5.6% | |
| 2018 | $5.57B | $920.00M | $4.65B | 8.39% | 1.74B | -4.6% | |
| 2017 | $4.29B | $1.03B | $3.27B | 4.67% | 1.82B | -3.5% | |
| 2016 | $3.93B | $1.14B | $2.80B | 5.15% | 1.89B | -3.4% | |
| 2015 | $2.77B | $1.10B | $1.67B | 4.61% | 1.95B | -0.9% | |
| 2014 | $1.46B | $1.26B | $198.00M | 1.96% | 1.97B | +0.7% | |
| 2013 | $691.00M | $1.18B | −$489.00M | 1.16% | 1.96B | +2.0% | |
| 2012 | $227.00M | $891.00M | −$664.00M | 0.63% | 1.92B | +14.5% | |
| 2011 | $317.00M | $1.30B | −$983.00M | 1.13% | 1.68B | +18.7% | |
| 2010 | $317.00M | $1.26B | −$943.00M | 0.81% | 1.41B | +19.1% | |
| 2009 | $11.00B | $1.26B | $9.73B | 28.65% | 1.19B | +8.2% | |
| 2008 | $1.83B | $1.88B | −$50.00M | 15.66% | 1.10B | +3.9% | |
| 2007 | $4.26B | $1.94B | $2.32B | 8.08% | 1.05B | -0.1% | |
| 2006 | $3.38B | $1.96B | $1.42B | 5.23% | 1.05B | -2.3% | |
| 2005 | $3.69B | $0.00 | $3.69B | 7.39% | 1.08B | -2.3% | |
| 2004 | $1.13B | $0.00 | $1.13B | 2.45% | 1.11B | +0.6% | |
| 2003 | $350.00M | $0.00 | $350.00M | 0.68% | 1.10B | -1.0% | |
| 2002 | $990.00M | $0.00 | $990.00M | 2.39% | 1.11B | -1.0% | |
| 2001 | $0.00 | $0.00 | $0.00 | — | 1.12B | -2.0% | |
| 2000 | $0.00 | $0.00 | $0.00 | — | 1.15B | -1.2% | |
| 1999 | $0.00 | $0.00 | $0.00 | — | 1.16B | -4.4% | |
| 1998 | $0.00 | $0.00 | $0.00 | — | 1.21B | -0.5% | |
| 1997 | $0.00 | $0.00 | $0.00 | — | 1.22B | +92.6% | |
| 1996 | $0.00 | $0.00 | $0.00 | — | 0.63B | — | |
| 1995 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1994 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1993 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1992 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1991 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1990 | $0.00 | $0.00 | $0.00 | — | — | — | |
| 1989 | $0.00 | $0.00 | $0.00 | — | — | — |
- 2025$5.83B
- 2024$4.20B
- 2023$6.18B
- 2022$10.87B
- 2021$12.07B
- 2020$1.89B
- 2019$5.95B
- 2018$5.57B
- 2017$4.29B
- 2016$3.93B
- 2015$2.77B
- 2014$1.46B
- 2013$691.00M
- 2012$227.00M
- 2011$317.00M
- 2010$317.00M
- 2009$11.00B
- 2008$1.83B
- 2007$4.26B
- 2006$3.38B
- 2005$3.69B
- 2004$1.13B
- 2003$350.00M
- 2002$990.00M
- 2001$0.00
- 2000$0.00
- 1999$0.00
- 1998$0.00
- 1997$0.00
- 1996$0.00
- 1995$0.00
- 1994$0.00
- 1993$0.00
- 1992$0.00
- 1991$0.00
- 1990$0.00
- 1989$0.00
Buybacks vs stock-based compensation for Morgan Stanley (MS)
Annual cash repurchases set against stock-based compensation. Coverage above 1× means buybacks fully offset the equity dilution from SBC. TTM coverage: 4.83×.
Buybacks vs dividends (share of cash returned) for Morgan Stanley (MS)
How Morgan Stanley splits cash returned to shareholders between dividends and buybacks.
Sector peers by buyback spend
Companies in the same sector as Morgan Stanley, ranked by their latest buyback spend.
| $34.59B | |
| $24.10B | |
| $19.52B | |
| $18.25B | |
| $13.39B | |
| $12.36B | |
| $11.73B | |
| $0.00 |
- $34.59B
- $24.10B
- $19.52B
- $18.25B
- $13.39B
- $12.36B
- $11.73B
Buyback capacity (TTM)
Free cash flow minus dividends paid versus actual TTM repurchases — the headroom bar shows how much of post-dividend FCF is still being deployed elsewhere.
Headroom $0.00 (TTM FCF − TTM dividends, clamped at zero).
Frequently asked questions
Data & methodology
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation