• Morgan Stanley average return on tangible equity for 2024 was 13.56, a 12.91% increase from 2023.
• Morgan Stanley average return on tangible equity for 2023 was 12.01, a 23.21% increase from 2022.
• Morgan Stanley average return on tangible equity for 2022 was 15.64, a 6.07% decline from 2021.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.