Switch to:
GuruFocus has detected 4 Warning Signs with Morgan Stanley $MS.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
Morgan Stanley (NYSE:MS)
Cash Flow from Financing
$7,424 Mil (TTM As of Dec. 2016)

Cash from financing is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders.

For the three months ended in Dec. 2016, Morgan Stanley paid $1,025 Mil more to buy back shares than it received from issuing new shares. It received $8,637 Mil from issuing more debt. It paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares. It spent $435 Mil paying cash dividends to shareholders. It received $5,658 Mil on other financial activities. In all, Morgan Stanley earned $12,835 Mil on financial activities for the three months ended in Dec. 2016.


Definition

This is the cash generated/spent from financial activities such as share issuance (buy back), debt issuance (repayment), and dividends paid to preferred and common stockholders. In the calculation of free cash flow, cash from financing is not calculated because it is not related to operating activities.

Morgan Stanley's Cash from Financing for the fiscal year that ended in Dec. 2016 is calculated as:

Cash from Financing(A: Dec. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-3933+12030+0+-1746+1073
=7,424

Morgan Stanley's Cash from Financing for the quarter that ended in Dec. 2016 is

Cash from Financing(Q: Dec. 2016 )
=Net Issuance of Stock+Net Issuance of Debt+Net Issuance of Preferred+Dividends+Other Financing
=-1025+8637+0+-435+5658
=12,835

Morgan Stanley Cash Flow from Financing for the trailing twelve months (TTM) ended in Dec. 2016 was 3888 (Mar. 2016 ) + -6404 (Jun. 2016 ) + -2895 (Sep. 2016 ) + 12835 (Dec. 2016 ) = $7,424 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

Cash from financing contains five items:

1. Net Issuance of Stock:
A company may raise cash from issuing new shares. It can also use cash to buy back shares. If this number is positive, it means that the company has received more cash from issuing shares than it has paid to buy back shares. If this number is negative, it means that company has paid more cash to buy back shares than it has received for issuing shares.

Morgan Stanley's net issuance of stock for the three months ended in Dec. 2016 was $-1,025 Mil. Morgan Stanley paid $1,025 Mil more to buy back shares than it received from issuing new shares.

2. Net Issuance of Debt:
Net issuance of debt is the cash a company received or spent through debt related activities such as debt issuance or debt repayment. If a company pays down its debt during the period, this number will be negative. If a company issued more debt, it receives cash and this number is positive.

Morgan Stanley's net issuance of debt for the three months ended in Dec. 2016 was $8,637 Mil. Morgan Stanley received $8,637 Mil from issuing more debt.

3. Net Issuance of Preferred:
A company may raise cash from issuing new preferred shares. It can also use cash to buy back preferred shares. If this number is positive, it means that the company has received more cash from issuing preferred shares than it has paid to buy back preferred shares. If this number is negative, it means that company has paid more cash to buy back preferred shares than it has received for issuing preferred shares.

Morgan Stanley's net issuance of preferred for the three months ended in Dec. 2016 was $0 Mil. Morgan Stanley paid $0 Mil more to buy back preferred shares than it received from issuing preferred shares.

4. Dividends:
Cash flow for dividends refers to the payment of cash to shareholders as dividends when the company generates income.

Morgan Stanley's cash flow for dividends for the three months ended in Dec. 2016 was $-435 Mil. Morgan Stanley spent $435 Mil paying cash dividends to shareholders.

5. Other Financing:
Money spent or earned by company from other financial activities.

Morgan Stanley's other financing for the three months ended in Dec. 2016 was $5,658 Mil. Morgan Stanley received $5,658 Mil on other financial activities.


Related Terms

Cash Flow from Operations, Cash Flow from Investing, Net Issuance of Stock, Net Issuance of Debt, Dividends, Net Issuance of Preferred


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Morgan Stanley Annual Data

Nov07Nov08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
Net Issuance of Stock -3,330-1,431-75,264-317-227-691-1,458-2,773-3,933
Net Issuance of Debt 25,463-28,4713,0614,449-6,920-22,041-21,5251,5676,80512,030
Net Issuance of Preferred 00-10,9500001,6962,7821,4930
Dividends -1,219-1,227-1,732-1,156-834-469-475-904-1,455-1,746
Other Financing 17,17112,58512,652-4,3942,92310,84023,62821,15620,2951,073
Cash from Financing 38,085-18,5443,0244,163-5,148-11,8972,63323,14324,3657,424

Morgan Stanley Quarterly Data

Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16Mar17
Net Issuance of Stock -286-839-634-662-638-976-653-1,279-1,0250
Net Issuance of Debt 1,8766,6234,1841,458-5,4604,158-723-428,6370
Net Issuance of Preferred 01,49300000000
Dividends -252-310-363-423-359-436-355-520-4350
Other Financing 8,8512,9842,5666,5858,1601,142-4,673-1,0545,6580
Cash from Financing 10,1899,9515,7536,9581,7033,888-6,404-2,89512,8350
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK