Capital Expenditures for Morgan Stanley (MS)
According to Morgan Stanley's latest reported financial statements, the company's current capital expenditures (TTM) is $4.38B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
Currently viewingCapital ExpendituresSwitch metric
Latest period
$4.38B
YoY change
-16.3%
5Y CAGR
+14.9%
Peak year (2024)
$3.46B
Cumulative capital expenditures
$43.58B
CapEx history chart for Morgan Stanley (MS) from 1989 to 2025
CapEx history table for Morgan Stanley (MS) from 1989 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $2.90B | -16.3% | ||
| 2024 | $3.46B | +1.5% | ||
| 2023 | $3.41B | +10.9% | ||
| 2022 | $3.08B | +33.4% | ||
| 2021 | $2.31B | +59.8% | ||
| 2020 | $1.44B | -20.9% | ||
| 2019 | $1.83B | -2.1% | ||
| 2018 | $1.86B | +14.5% | ||
| 2017 | $1.63B | +27.7% | ||
| 2016 | $1.28B | -7.1% | ||
| 2015 | $1.37B | +38.4% | ||
| 2014 | $992.00M | -24.6% | ||
| 2013 | $1.32B | +0.3% | ||
| 2012 | $1.31B | +0.6% | ||
| 2011 | $1.30B | +8.6% | ||
| 2010 | $1.20B | -58.3% | ||
| 2009 | $2.88B | +105.5% | ||
| 2008 | $1.40B | -4.7% | ||
| 2007 | $1.47B | — | ||
| 2006 | $0 | -100.0% | ||
| 2005 | $540.00M | -5.1% | ||
| 2004 | $569.00M | -5.6% | ||
| 2003 | $603.00M | -46.4% | ||
| 2002 | $1.12B | -43.7% | ||
| 2001 | $2.00B | +139.0% | ||
| 2000 | $836.00M | +27.4% | ||
| 1999 | $656.00M | — | ||
| 1998 | $0 | -100.0% | ||
| 1997 | $301.00M | — | ||
| 1996 | $0 | — | ||
| 1995 | $0 | — | ||
| 1994 | $0 | — | ||
| 1993 | $0 | -100.0% | ||
| 1992 | $66.30M | -68.6% | ||
| 1991 | $211.40M | +27.9% | ||
| 1990 | $165.30M | +134.1% | ||
| 1989 | $70.60M | — |
CapEx values are taken from Morgan Stanley's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
The 2025 reading of Morgan Stanley (MS) capital expenditures is $2.90B – declined 16.3% year-over-year.
Across 2020–2025 (5 years), Morgan Stanley capital expenditures produced a CAGR of +14.9% – with the latest reading among the more recent periods of the dataset.
Between 2024 and 2025, Morgan Stanley capital expenditures declined 16.3%, falling from $3.46B to $2.90B.
The highest annual capital expenditures of $3.46B was reported in 2024. The lowest in the available history was $0 in 1993.
Within Financial Services, Morgan Stanley (MS) ranks 3rd among 8 peers we track. The peer median for capital expenditures is $985.50M.
Morgan Stanley Capital Expenditures by Year
Morgan Stanley Capital Expenditures 2025: $2.90B
Morgan Stanley capital expenditures in 2025 was $2.90B, declined 16.3% below 2024.
Morgan Stanley Capital Expenditures 2024: $3.46B
Morgan Stanley capital expenditures in 2024 was $3.46B, edged up 1.5% from 2023. This figure represents the highest annual value in the available history.
Morgan Stanley Capital Expenditures 2023: $3.41B
Morgan Stanley capital expenditures in 2023 was $3.41B, grew 10.9% from 2022.
Morgan Stanley Capital Expenditures 2022: $3.08B
Morgan Stanley capital expenditures in 2022 was $3.08B, surged 33.4% from 2021.
Morgan Stanley Capital Expenditures 2021: $2.31B
Morgan Stanley capital expenditures in 2021 was $2.31B.
See more financial history for Morgan Stanley (MS).
Sector peers — CapEx
Companies in the same sector as Morgan Stanley, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Berkshire Hathaway Inc. (BRK-B) | $20.93B | Financial Services |
| Citigroup Inc. (C) | $6.52B | Financial Services |
| The Goldman Sachs Group, Inc. (GS) | $2.06B | Financial Services |
| Visa Inc. (V) | $1.48B | Financial Services |
| Mastercard Incorporated (MA) | $489.00M | Financial Services |
| JPMorgan Chase & Co. (JPM) | $0 | Financial Services |
| Bank of America Corporation (BAC) | $0 | Financial Services |
| Wells Fargo & Company (WFC) | $0 | Financial Services |
Frequently asked questions
What is Morgan Stanley's capital expenditures?
- Latest reported capital expenditures for Morgan Stanley (MS) is $4.38B (period ending December 31, 2025).
How has Morgan Stanley capital expenditures changed year-over-year?
- Morgan Stanley (MS) capital expenditures changed -16.3% year-over-year on the latest annual filing.
What is the long-term growth rate of Morgan Stanley capital expenditures?
- Morgan Stanley (MS) capital expenditures compound annual growth rate is +14.9% over the most recent 5 years available.
When did Morgan Stanley capital expenditures hit its highest annual value?
- Morgan Stanley capital expenditures reached its highest annual value of $3.46B in 2024.
What was Morgan Stanley capital expenditures in 2024?
- Morgan Stanley (MS) capital expenditures in 2024 was $3.46B.
What was Morgan Stanley capital expenditures in 2025?
- Morgan Stanley (MS) capital expenditures in 2025 was $2.90B.
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