MORGAN STANLEY (MS) Free cash flow
- Free cash flow · 12 months (USD): Value (m); Formula and calculation Operating cash flow minus capital spending; distinct from the saved levered FCF quote figure. Period ending 2026-06-30..
- Price / free cash flow · 12 months: Value (m); Formula and calculation Market cap / trailing-year free cash flow; inverse of FCF yield before percent scaling. Period ending 2026-06-30..
- Free cash flow yield · 12 months: Value (m); Formula and calculation (Operating cash flow − capital spending) / current market cap. Period ending 2026-06-30..
- Free cash flow margin · 12 months: Value (m); Formula and calculation (Operating cash flow − capital spending) / revenue. Period ending 2026-06-30..
Free cash flow
Overview →Financial period ending 2026-06-30; current quote (m). Amounts retain their stated periods and units.
| Metric | Value | Formula and calculation |
|---|---|---|
| Free cash flow · 12 months (USD) | (m) | Operating cash flow minus capital spending; distinct from the saved levered FCF quote figure. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Price / free cash flow · 12 months | (m) | Market cap / trailing-year free cash flow; inverse of FCF yield before percent scaling. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow yield · 12 months | (m) | (Operating cash flow − capital spending) / current market cap. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow margin · 12 months | (m) | (Operating cash flow − capital spending) / revenue. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Free cash flow per share · 12 months | (m) | (Trailing-year operating cash flow − capital spending) / reported quarter-end common shares. Period ending 2026-06-30. Calculation unavailable: missing inputs remain (m). |
| Operating cash flow · 12 months | $-15.59B | Cash generated by operating activities. Period ending 2026-06-30. |
| Operating cash flow / net income · 12 months | -0.77× | Operating cash flow / net income. Period ending 2026-06-30. $-15.59B ÷ $20.16B ≈ -0.77× |
Calculation inputs
| Input | Amount with unit | Raw financial data |
|---|---|---|
| Operating cash flow | -15.59B USD | Net Cash Provided by (Used in) Operating Activities · Net Cash Provided by (Used in) Operating Activities, Continuing Operations |
| Capital spending | (m) | |
| Market cap | (m) | |
| Free cash flow | (m) | Net Cash Provided by (Used in) Operating Activities · Net Cash Provided by (Used in) Operating Activities, Continuing Operations |
| Revenue | (m) | Revenue from Contract with Customer, Excluding Assessed Tax |
| Quarter-end shares | (m) | Common Stock, Shares, Outstanding |
| Net income | 20.16B USD | Net Income (Loss) Attributable to Parent |
Calculated history
Changes compare with the next older row (previous quarter), unless explicitly labeled otherwise. Rolling 12-month growth compares two successive quarter-end rolling totals; it is not year-over-year growth.
| Period ending | Free cash flow | FCF per share | Operating cash flow | Capital spending (USD) | Market cap (USD) | Revenue (USD) | Quarter-end shares (shares) | Net income (USD) | Price / FCF | FCF yield | FCF margin | Cash conversion |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | (m) | (m) | $-15.59B | (m) | (m) | (m) | (m) | $20.16B | (m) | (m) | (m) | -0.77× |
| 2026-03-31 | (m) | (m) | $-1.01B | (m) | (m) | (m) | (m) | $18.11B | (m) | (m) | (m) | -0.06× |
| 2025-12-31 | (m) | (m) | $-17.89B | (m) | (m) | (m) | (m) | $16.86B | (m) | (m) | (m) | -1.06× |
| 2025-09-30 | (m) | (m) | $-3.68B | (m) | (m) | (m) | (m) | $16.18B | (m) | (m) | (m) | -0.23× |
| 2025-06-30 | (m) | (m) | $-17.67B | (m) | (m) | (m) | (m) | $14.76B | (m) | (m) | (m) | -1.20× |
| 2025-03-31 | (m) | (m) | $-26.97B | (m) | (m) | (m) | (m) | $14.29B | (m) | (m) | (m) | -1.89× |
| 2024-12-31 | (m) | (m) | $1.36B | (m) | (m) | (m) | (m) | $13.39B | (m) | (m) | (m) | 0.10× |
| 2024-09-30 | (m) | (m) | $-28.19B | (m) | (m) | (m) | (m) | $11.19B | (m) | (m) | (m) | -2.52× |
| 2024-06-30 | (m) | (m) | $-7.12B | (m) | (m) | (m) | (m) | $10.41B | (m) | (m) | (m) | -0.68× |
| 2024-03-31 | (m) | (m) | $-19.31B | (m) | (m) | (m) | (m) | $9.52B | (m) | (m) | (m) | -2.03× |
| 2023-12-31 | (m) | (m) | $-33.54B | (m) | (m) | (m) | (m) | $9.09B | (m) | (m) | (m) | -3.69× |
| 2023-09-30 | (m) | (m) | $-29.78B | (m) | (m) | (m) | (m) | $9.81B | (m) | (m) | (m) | -3.04× |
| 2023-06-30 | (m) | (m) | $-41.08B | (m) | (m) | (m) | (m) | $10.03B | (m) | (m) | (m) | -4.10× |
| 2023-03-31 | (m) | (m) | $-16.50B | (m) | (m) | (m) | (m) | $10.34B | (m) | (m) | (m) | -1.60× |
| 2022-12-31 | (m) | (m) | $-6.40B | (m) | (m) | (m) | (m) | $11.03B | (m) | (m) | (m) | -0.58× |
| 2022-09-30 | (m) | (m) | $7.95B | (m) | (m) | (m) | (m) | $12.49B | (m) | (m) | (m) | 0.64× |
| 2022-06-30 | (m) | (m) | $17.63B | (m) | (m) | (m) | (m) | $13.56B | (m) | (m) | (m) | 1.30× |
| 2022-03-31 | (m) | (m) | $7.33B | (m) | (m) | (m) | (m) | $14.58B | (m) | (m) | (m) | 0.50× |
| 2021-12-31 | (m) | (m) | $33.97B | (m) | (m) | (m) | (m) | $15.03B | (m) | (m) | (m) | 2.26× |
| 2021-09-30 | (m) | (m) | $8.23B | (m) | (m) | (m) | (m) | $14.72B | (m) | (m) | (m) | 0.56× |
| 2021-06-30 | (m) | (m) | $-763.00M | (m) | (m) | (m) | (m) | $13.73B | (m) | (m) | (m) | -0.06× |
| 2021-03-31 | (m) | (m) | $-22.19B | (m) | (m) | (m) | (m) | $13.42B | (m) | (m) | (m) | -1.65× |
| 2020-12-31 | (m) | (m) | $-25.23B | (m) | (m) | (m) | (m) | $11.00B | (m) | (m) | (m) | -2.29× |
| 2020-09-30 | (m) | (m) | $23.00M | (m) | (m) | (m) | (m) | $9.85B | (m) | (m) | (m) | 0.00× |
| 2020-06-30 | (m) | (m) | $20.23B | (m) | (m) | (m) | (m) | $9.31B | (m) | (m) | (m) | 2.17× |
| 2020-03-31 | (m) | (m) | $47.57B | (m) | (m) | (m) | (m) | $8.31B | (m) | (m) | (m) | 5.72× |
| 2019-12-31 | (m) | (m) | $40.77B | (m) | (m) | (m) | (m) | $9.04B | (m) | (m) | (m) | 4.51× |
| 2019-09-30 | (m) | (m) | $33.73B | (m) | (m) | (m) | (m) | $8.33B | (m) | (m) | (m) | 4.05× |
| 2019-06-30 | (m) | (m) | $34.96B | (m) | (m) | (m) | (m) | $8.27B | (m) | (m) | (m) | 4.23× |
| 2019-03-31 | (m) | (m) | $11.70B | (m) | (m) | (m) | (m) | $8.51B | (m) | (m) | (m) | 1.37× |
| 2018-12-31 | (m) | (m) | $7.30B | (m) | (m) | (m) | (m) | $8.75B | (m) | (m) | (m) | 0.84× |
| 2018-09-30 | (m) | (m) | $18.53B | (m) | (m) | (m) | (m) | $7.86B | (m) | (m) | (m) | 2.36× |
| 2018-06-30 | (m) | (m) | $9.57B | (m) | (m) | (m) | (m) | $7.53B | (m) | (m) | (m) | 1.27× |
| 2018-03-31 | (m) | (m) | $8.05B | (m) | (m) | (m) | (m) | $6.85B | (m) | (m) | (m) | 1.18× |
| 2017-12-31 | (m) | (m) | $-4.50B | (m) | (m) | (m) | (m) | $6.11B | (m) | (m) | (m) | -0.74× |
| 2017-09-30 | (m) | (m) | $-11.53B | (m) | (m) | (m) | (m) | $7.13B | (m) | (m) | (m) | -1.62× |
| 2017-06-30 | (m) | (m) | $-25.08B | (m) | (m) | (m) | (m) | $6.95B | (m) | (m) | (m) | -3.61× |
| 2017-03-31 | (m) | (m) | $1.30B | (m) | (m) | (m) | (m) | $6.78B | (m) | (m) | (m) | 0.19× |
| 2016-12-31 | (m) | (m) | $5.38B | (m) | (m) | (m) | (m) | $5.98B | (m) | (m) | (m) | 0.90× |
| 2016-09-30 | (m) | (m) | $19.50B | (m) | (m) | (m) | (m) | $5.22B | (m) | (m) | (m) | 3.74× |
| 2015-12-31 | (m) | (m) | $-4.46B | (m) | (m) | (m) | (m) | $6.13B | (m) | (m) | (m) | -0.73× |
| 2013-03-31 | (m) | (m) | $21.15B | (m) | (m) | $27.35B | (m) | $1.12B | (m) | (m) | (m) | 18.81× |
| 2012-12-31 | (m) | (m) | $24.55B | (m) | (m) | $26.11B | (m) | $68.00M | (m) | (m) | (m) | 361.00× |
| 2012-09-30 | (m) | (m) | $18.57B | (m) | (m) | $24.99B | (m) | $-776.00M | (m) | (m) | (m) | -23.93× |
| 2012-06-30 | (m) | (m) | $27.72B | (m) | (m) | $29.51B | (m) | $2.45B | (m) | (m) | (m) | 11.33× |
| 2012-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-12-31 | (m) | (m) | $6.68B | (m) | (m) | $32.40B | (m) | $4.11B | (m) | (m) | (m) | 1.63× |
| 2011-09-30 | (m) | (m) | $24.69B | (m) | (m) | $34.62B | (m) | $5.20B | (m) | (m) | (m) | 4.75× |
| 2011-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2011-03-31 | (m) | (m) | $17.88B | (m) | (m) | $30.18B | (m) | $3.90B | (m) | (m) | (m) | 4.59× |
| 2010-12-31 | (m) | (m) | $40.31B | (m) | (m) | $31.62B | (m) | $4.70B | (m) | (m) | (m) | 8.57× |
| 2010-09-30 | (m) | (m) | (m) | (m) | (m) | $30.13B | (m) | $4.48B | (m) | (m) | (m) | (m) |
| 2010-06-30 | (m) | (m) | $24.90B | (m) | (m) | $32.29B | (m) | $5.11B | (m) | (m) | (m) | 4.87× |
| 2010-03-31 | (m) | (m) | $7.66B | (m) | (m) | $29.54B | (m) | $3.30B | (m) | (m) | (m) | 2.32× |
| 2009-12-31 | (m) | (m) | $-45.95B | (m) | (m) | $23.36B | (m) | $1.35B | (m) | (m) | (m) | -34.14× |
| 2009-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2009-03-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-12-31 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-11-30 | (m) | (m) | $73.42B | (m) | (m) | $22.11B | (m) | $1.71B | (m) | (m) | (m) | 43.01× |
| 2008-09-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2008-06-30 | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) | (m) |
| 2007-11-30 | (m) | (m) | $-22.25B | (m) | (m) | $26.48B | (m) | $3.21B | (m) | (m) | (m) | -6.93× |
(m) means missing inputs. Historical market-based ratios use the saved close on or immediately before period ending and that period’s reported shares; current quotes are not substituted. Five-year projections repeat historical CAGR, not analyst forecasts.
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