Morgan Stanley (DWD.DE) Q4 2024 Earnings Report

Revenue: $25.982 billion in Q4 2024, up 7.40% YoY and down 1.31% QoQ. Gross Profit: $14.928 billion; gross margin 57.46% (YoY +24.11%, QoQ +4.68%). Operating Income: $4.906 billion; margin 18.88% (YoY +134.06%, QoQ +16.23%). Net Income: $3.714 billion; margin 14.29% (YoY +144.83%, QoQ +16.50%). EPS: $2.25 basic, $2.22 diluted (YoY +161.63%, QoQ +17.80%). EBITDA: $6.551 billion; EBITDARatio 0.252. Operating cash flow: $11.800 billion; free cash flow: $10.921 billion. Balance sheet: total assets $1.216 trillion; total liabilities $1.110 trillion; total stockholders’ equity $104.511 billion. Cash and cash equivalents $75.743 billion; cash and short-term investments $401.589 billion; total debt $360.488 billion; net debt $284.745 billion. Liquidity and efficiency metrics indicate a strong capacity to fund activities and return capital. Key returns: ROE 3.55%; net margin 14.29%; payout ratio 42.7%; dividend yield 0.80%. Valuation: P/E 13.28x; P/B 1.89x; P/S 13.11x; P/FCF 18.06x.