Morgan Stanley 2005 Annual Report Download - page 13

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03 04 05
$ 26,778
$ 23,708
$ 20,817
Net Revenues
Dollars in Millions
03 04 05
$ 15,673
$ 13,113
$ 11,301
Institutional Securities
Net Revenues
Dollars in Millions
03 04 05
$ 4,804
$ 4,067
$ 3,591
Institutional Securities
Equity Sales and
Trading Revenues
Dollars in Millions
03 04 05
$ 6,782
$ 5,567
$ 5,462
Institutional Securities
Fixed Income Sales and
Trading Revenues(1)
Dollars in Millions
03 04 05
$ 1,478
$ 1,156
$ 662
Institutional Securities
Advisory Revenues
Dollars in Millions
03 04 05
Return on Average
Common Equity
By Percent
Return on Average Common Equity
Return on Average Common Equity
Excluding Discontinued Operations
18.2%
18.6%
19.0%
16.8%
17.3%
16.5%
All charts are based on fiscal year results of operations
for the 12 months ended November 30.
(1) Amounts include interest rate and currency products, credit products and
commodities. Amounts exclude revenues from corporate lending activities.