Morgan Stanley, a leading global financial services firm, reported its fourth-quarter financial results for 2024, demonstrating a notable rise in its operations. The firm’s net revenues for the quarter reached $16.2 billion, representing a 26% increase compared to $12.9 billion in the same period last year. For the full year, net revenues totaled $61.8 billion, up from $54.1 billion in 2023.

Earnings per share (EPS) for the fourth quarter were $2.22, a significant increase from $0.85 a year ago. The full year EPS also saw substantial growth, recorded at $7.95, compared to $5.18 for the previous year. The return on tangible equity (ROTCE) for Q4 was 20.2%, up from 8.4% during the same quarter last year, while the full year ROTCE was 18.8%, compared to 12.8% in 2023.

In terms of business performance, Institutional Securities reported fourth-quarter revenues of $7.3 billion, a 47% increase from $4.9 billion a year prior. Investment Banking revenues for the full year grew to $6.2 billion, marking a 35% rise from $4.6 billion the previous year. Equity revenues for Institutional Securities reached $3.3 billion in Q4, up 51% year-over-year, and $12.2 billion for the full year, an increase of 22%.

Wealth Management also displayed robust growth, achieving net revenues of $7.5 billion for the fourth quarter, a 13% increase from $6.6 billion a year earlier. For the full year, Wealth Management net revenues were $28.4 billion, compared to $26.3 billion in 2023. The segment’s pre-tax profit margin for the year was 27.2%. Noteworthy was the addition of $123 billion in fee-based asset flows over the year, contributing to a solid annualized growth rate of 5%.

Additionally, Investment Management reported net revenues of $1.6 billion for the fourth quarter, an increase of 12% compared to the same period last year. For the full year, Investment Management earned $5.9 billion in revenues, up from $5.4 billion in 2023. The total assets under management reached $1.7 trillion at year-end, marking an increase from the previous year’s $1.5 trillion.

The firm’s efficiency ratio for the fourth quarter improved to 69%, down from 84% a year earlier, reflecting better revenue generation relative to expenses. The effective tax rate for the full year was 23.1%. Morgan Stanley ended the year with a strong capital position, a Common Equity Tier 1 (CET1) ratio of 15.9%, up from 15.2% in the prior year, and repurchased $3.3 billion of common stock. The quarterly dividend was raised to $0.925 per share, marking three consecutive years of increases.

Overall, Morgan Stanley’s fourth-quarter and full-year results indicate a period of significant growth across its business segments, with detailed metrics illustrating strong operational performance amidst a favorable market environment.