Morgan Stanley (MS) — Working Capital to Net Assets Ratio
Morgan Stanley (MS) has a Working Capital to Net Assets ratio of 354.7% as of March 2026. Working capital of $409.29 Billion (current assets of $1.08 Trillion minus current liabilities of $666.50 Billion) is measured against net assets of $115.38 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Morgan Stanley (MS) flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Morgan Stanley Working Capital to Net Assets (1989–2025)
This chart shows how Morgan Stanley's Working Capital to Net Assets ratio has evolved across 37 annual periods from 1989 to 2025. As of March 2026, the ratio stands at 354.7%, reflecting working capital of $409.29 Billion against net assets of $115.38 Billion USD. See Morgan Stanley (MS) liquidity interval to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Morgan Stanley (1989–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Morgan Stanley from 1989 to 2025, covering 37 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see MS stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 84.4% | $95.12 Billion | $112.65 Billion | $654.69 Billion | $559.57 Billion | ▲ +323.2 pp |
| 2024 | -238.8% | $-251.74 Billion | $105.43 Billion | $487.75 Billion | $739.49 Billion | ▼ -33.0 pp |
| 2023 | -205.8% | $-205.76 Billion | $99.98 Billion | $542.00 Billion | $747.76 Billion | ▲ +2.0 pp |
| 2022 | -207.8% | $-210.36 Billion | $101.23 Billion | $546.39 Billion | $756.75 Billion | ▼ -42.5 pp |
| 2021 | -165.3% | $-176.18 Billion | $106.60 Billion | $596.37 Billion | $772.54 Billion | ▼ -26.0 pp |
| 2020 | -139.3% | $-143.68 Billion | $103.15 Billion | $571.97 Billion | $715.64 Billion | ▲ +20.9 pp |
| 2019 | -160.2% | $-132.51 Billion | $82.70 Billion | $424.48 Billion | $556.98 Billion | ▼ -25.6 pp |
| 2018 | -134.7% | $-109.62 Billion | $81.41 Billion | $410.58 Billion | $520.21 Billion | ▲ +50.3 pp |
| 2017 | -185.0% | $-145.16 Billion | $78.47 Billion | $370.36 Billion | $515.52 Billion | ▼ -6.6 pp |
| 2016 | -178.4% | $-137.68 Billion | $77.18 Billion | $364.57 Billion | $502.25 Billion | ▼ -25.9 pp |
| 2015 | -152.5% | $-116.16 Billion | $76.18 Billion | $365.78 Billion | $481.94 Billion | ▼ -99.7 pp |
| 2014 | -52.7% | $-38.03 Billion | $72.10 Billion | $417.36 Billion | $455.39 Billion | ▲ +2.9 pp |
| 2013 | -55.6% | $-38.38 Billion | $69.03 Billion | $453.93 Billion | $492.31 Billion | ▼ -75.6 pp |
| 2012 | 20.0% | $13.06 Billion | $65.43 Billion | $432.67 Billion | $419.61 Billion | ▲ +122.2 pp |
| 2011 | -102.2% | $-71.62 Billion | $70.08 Billion | $295.27 Billion | $366.89 Billion | ▲ +106.5 pp |
| 2010 | -208.7% | $-136.50 Billion | $65.41 Billion | $305.33 Billion | $441.83 Billion | ▲ +152.1 pp |
| 2009 | -360.8% | $-190.41 Billion | $52.78 Billion | $248.72 Billion | $439.12 Billion | ▼ -239.3 pp |
| 2008 | -121.5% | $-60.07 Billion | $49.46 Billion | $270.32 Billion | $330.39 Billion | ▲ +483.0 pp |
| 2007 | -604.5% | $-189.01 Billion | $31.27 Billion | $317.87 Billion | $506.88 Billion | ▲ +157.4 pp |
| 2006 | -761.9% | $-269.44 Billion | $35.36 Billion | $328.48 Billion | $597.92 Billion | ▼ -73.6 pp |
| 2005 | -688.3% | $-200.85 Billion | $29.18 Billion | $308.63 Billion | $509.48 Billion | ▲ +413.2 pp |
| 2004 | -1101.4% | $-310.67 Billion | $28.21 Billion | $174.36 Billion | $485.03 Billion | ▼ -587.7 pp |
| 2003 | -513.7% | $-142.18 Billion | $27.68 Billion | $63.74 Billion | $205.91 Billion | ▲ +619.4 pp |
| 2002 | -1133.2% | $-261.70 Billion | $23.09 Billion | $68.83 Billion | $330.53 Billion | ▼ -296.8 pp |
| 2001 | -836.4% | $-183.39 Billion | $21.93 Billion | $64.04 Billion | $247.42 Billion | ▼ -31.6 pp |
| 2000 | -804.8% | $-158.31 Billion | $19.67 Billion | $52.85 Billion | $211.16 Billion | ▲ +168.3 pp |
| 1999 | -973.1% | $-169.46 Billion | $17.41 Billion | $45.59 Billion | $215.06 Billion | ▼ -69.7 pp |
| 1998 | -903.5% | $-140.20 Billion | $15.52 Billion | $43.45 Billion | $183.65 Billion | ▲ +50.1 pp |
| 1997 | -953.6% | $-142.60 Billion | $14.96 Billion | $38.48 Billion | $181.09 Billion | ▼ -751.0 pp |
| 1996 | -202.5% | $-10.46 Billion | $5.16 Billion | $5.64 Billion | $16.10 Billion | ▲ +4.0 pp |
| 1995 | -206.6% | $-9.99 Billion | $4.83 Billion | $7.47 Billion | $17.46 Billion | ▼ -105.5 pp |
| 1994 | -101.0% | $-4.15 Billion | $4.11 Billion | $7.32 Billion | $11.47 Billion | ▲ +18.9 pp |
| 1993 | -119.9% | $-4.17 Billion | $3.48 Billion | $6.52 Billion | $10.69 Billion | ▼ -534.1 pp |
| 1992 | 414.2% | $14.22 Billion | $3.43 Billion | $77.39 Billion | $63.17 Billion | ▲ +13.8 pp |
| 1991 | 400.4% | $11.98 Billion | $2.99 Billion | $61.50 Billion | $49.51 Billion | ▼ -11.8 pp |
| 1990 | 412.2% | $8.95 Billion | $2.17 Billion | $52.19 Billion | $43.24 Billion | ▲ +121.3 pp |
| 1989 | 290.9% | $5.88 Billion | $2.02 Billion | $51.69 Billion | $45.81 Billion | — |