MORGAN STANLEY (MS) Fundamental Analysis & Valuation

NYSE:MS • US6174464486

Current stock price

191.62 USD
+8.28 (+4.52%)
At close:
190.94 USD
-0.68 (-0.35%)
Pre-Market:

This MS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. MS Profitability Analysis

1.1 Basic Checks

  • MS had positive earnings in the past year.
  • In the past year MS has reported a negative cash flow from operations.
  • MS had positive earnings in each of the past 5 years.
  • In multiple years MS reported negative operating cash flow during the last 5 years.
MS Yearly Net Income VS EBIT VS OCF VS FCFMS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B 40B

1.2 Ratios

  • The Return On Assets of MS (1.14%) is worse than 60.83% of its industry peers.
  • MS has a better Return On Equity (14.56%) than 72.92% of its industry peers.
  • MS has a Return On Invested Capital of 1.45%. This is in the lower half of the industry: MS underperforms 65.00% of its industry peers.
  • Measured over the past 3 years, the Average Return On Invested Capital for MS is significantly below the industry average of 7.19%.
  • The 3 year average ROIC (1.27%) for MS is below the current ROIC(1.45%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.14%
ROE 14.56%
ROIC 1.45%
ROA(3y)0.97%
ROA(5y)1.01%
ROE(3y)11.81%
ROE(5y)11.95%
ROIC(3y)1.27%
ROIC(5y)1.31%
MS Yearly ROA, ROE, ROICMS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10

1.3 Margins

  • With a Profit Margin value of 13.58%, MS perfoms like the industry average, outperforming 47.50% of the companies in the same industry.
  • In the last couple of years the Profit Margin of MS has declined.
  • Looking at the Operating Margin, with a value of 18.35%, MS is in line with its industry, outperforming 40.83% of the companies in the same industry.
  • In the last couple of years the Operating Margin of MS has declined.
  • The Gross Margin of MS (55.13%) is better than 63.75% of its industry peers.
  • In the last couple of years the Gross Margin of MS has declined.
Industry RankSector Rank
OM 18.35%
PM (TTM) 13.58%
GM 55.13%
OM growth 3Y-4.95%
OM growth 5Y-7.71%
PM growth 3Y-5.29%
PM growth 5Y-7.41%
GM growth 3Y-10.21%
GM growth 5Y-8.75%
MS Yearly Profit, Operating, Gross MarginsMS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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1

2. MS Health Analysis

2.1 Basic Checks

  • MS has less shares outstanding than it did 1 year ago.
  • MS has less shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, MS has a worse debt to assets ratio.
MS Yearly Shares OutstandingMS Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B
MS Yearly Total Debt VS Total AssetsMS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500B 1T

2.2 Solvency

  • MS has an Altman-Z score of -0.07. This is a bad value and indicates that MS is not financially healthy and even has some risk of bankruptcy.
  • MS has a Altman-Z score of -0.07. This is in the lower half of the industry: MS underperforms 76.25% of its industry peers.
  • MS has a Debt/Equity ratio of 7.71. This is a high value indicating a heavy dependency on external financing.
  • MS has a Debt to Equity ratio of 7.71. This is amonst the worse of the industry: MS underperforms 87.92% of its industry peers.
Industry RankSector Rank
Debt/Equity 7.71
Debt/FCF N/A
Altman-Z -0.07
ROIC/WACCN/A
WACCN/A
MS Yearly LT Debt VS Equity VS FCFMS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 100B 200B 300B

2.3 Liquidity

  • MS has a Current Ratio of 0.30. This is a bad value and indicates that MS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • MS's Current ratio of 0.30 is on the low side compared to the rest of the industry. MS is outperformed by 83.75% of its industry peers.
  • A Quick Ratio of 0.30 indicates that MS may have some problems paying its short term obligations.
  • MS has a Quick ratio of 0.30. This is amonst the worse of the industry: MS underperforms 83.75% of its industry peers.
Industry RankSector Rank
Current Ratio 0.3
Quick Ratio 0.3
MS Yearly Current Assets VS Current LiabilitesMS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200B 400B 600B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

6

3. MS Growth Analysis

3.1 Past

  • MS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 29.58%, which is quite impressive.
  • The Earnings Per Share has been growing by 9.28% on average over the past years. This is quite good.
  • The Revenue has grown by 11.54% in the past year. This is quite good.
  • Measured over the past years, MS shows a quite strong growth in Revenue. The Revenue has been growing by 17.86% on average per year.
EPS 1Y (TTM)29.58%
EPS 3Y18.47%
EPS 5Y9.28%
EPS Q2Q%31.92%
Revenue 1Y (TTM)11.54%
Revenue growth 3Y21.98%
Revenue growth 5Y17.86%
Sales Q2Q%16.02%

3.2 Future

  • Based on estimates for the next years, MS will show a quite strong growth in Earnings Per Share. The EPS will grow by 8.40% on average per year.
  • MS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.42% yearly.
EPS Next Y15.01%
EPS Next 2Y11.69%
EPS Next 3Y9.58%
EPS Next 5Y8.4%
Revenue Next Year8.97%
Revenue Next 2Y7.28%
Revenue Next 3Y6.28%
Revenue Next 5Y5.42%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
MS Yearly Revenue VS EstimatesMS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 20B 40B 60B 80B 100B
MS Yearly EPS VS EstimatesMS Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 5 10 15

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3

4. MS Valuation Analysis

4.1 Price/Earnings Ratio

  • MS is valuated rather expensively with a Price/Earnings ratio of 17.36.
  • Compared to the rest of the industry, the Price/Earnings ratio of MS is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 27.38, MS is valued a bit cheaper.
  • MS is valuated correctly with a Price/Forward Earnings ratio of 15.04.
  • The rest of the industry has a similar Price/Forward Earnings ratio as MS.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 38.20, MS is valued rather cheaply.
Industry RankSector Rank
PE 17.36
Fwd PE 15.04
MS Price Earnings VS Forward Price EarningsMS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • 70.83% of the companies in the same industry are more expensive than MS, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 21.11
MS Per share dataMS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.16
PEG (5Y)1.87
EPS Next 2Y11.69%
EPS Next 3Y9.58%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. MS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.09%, MS has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 6.64, MS has a dividend in line with its industry peers.
  • MS's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 2.09%

5.2 History

  • On average, the dividend of MS grows each year by 20.76%, which is quite nice.
  • MS has paid a dividend for at least 10 years, which is a reliable track record.
  • MS has decreased its dividend recently.
Dividend Growth(5Y)20.76%
Div Incr Years1
Div Non Decr Years1
MS Yearly Dividends per shareMS Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 1 2 3

5.3 Sustainability

  • MS pays out 40.57% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • MS's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP40.57%
EPS Next 2Y11.69%
EPS Next 3Y9.58%
MS Yearly Income VS Free CF VS DividendMS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 20B -20B
MS Dividend Payout.MS Dividend Payout, showing the Payout Ratio.MS Dividend Payout.PayoutRetained Earnings

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MS Fundamentals: All Metrics, Ratios and Statistics

MORGAN STANLEY

NYSE:MS (4/15/2026, 8:07:56 PM)

Premarket: 190.94 -0.68 (-0.35%)

191.62

+8.28 (+4.52%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)04-15
Earnings (Next)N/A
Inst Owners62.71%
Inst Owner Change0%
Ins Owners0.2%
Ins Owner Change0.01%
Market Cap303.03B
Revenue(TTM)119.66B
Net Income(TTM)16.25B
Analysts74.55
Price Target194.02 (1.25%)
Short Float %1.36%
Short Ratio2.18
Dividend
Industry RankSector Rank
Dividend Yield 2.09%
Yearly Dividend4.13
Dividend Growth(5Y)20.76%
DP40.57%
Div Incr Years1
Div Non Decr Years1
Ex-Date01-30
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)18.02%
Min EPS beat(2)6.78%
Max EPS beat(2)29.27%
EPS beat(4)4
Avg EPS beat(4)14.07%
Min EPS beat(4)5.77%
Max EPS beat(4)29.27%
EPS beat(8)8
Avg EPS beat(8)15.53%
EPS beat(12)11
Avg EPS beat(12)10.88%
EPS beat(16)13
Avg EPS beat(16)8.36%
Revenue beat(2)1
Avg Revenue beat(2)1.84%
Min Revenue beat(2)-2.27%
Max Revenue beat(2)5.96%
Revenue beat(4)3
Avg Revenue beat(4)2.26%
Min Revenue beat(4)-2.27%
Max Revenue beat(4)5.96%
Revenue beat(8)7
Avg Revenue beat(8)2.68%
Revenue beat(12)8
Avg Revenue beat(12)6.46%
Revenue beat(16)12
Avg Revenue beat(16)9.84%
PT rev (1m)-2.28%
PT rev (3m)11.04%
EPS NQ rev (1m)1.73%
EPS NQ rev (3m)5.8%
EPS NY rev (1m)0.68%
EPS NY rev (3m)7.9%
Revenue NQ rev (1m)2.14%
Revenue NQ rev (3m)3.74%
Revenue NY rev (1m)0.31%
Revenue NY rev (3m)3.31%
Valuation
Industry RankSector Rank
PE 17.36
Fwd PE 15.04
P/S 2.53
P/FCF N/A
P/OCF N/A
P/B 2.71
P/tB 3.41
EV/EBITDA 21.11
EPS(TTM)11.04
EY5.76%
EPS(NY)12.74
Fwd EY6.65%
FCF(TTM)-13.14
FCFYN/A
OCF(TTM)-11.31
OCFYN/A
SpS75.67
BVpS70.59
TBVpS56.21
PEG (NY)1.16
PEG (5Y)1.87
Graham Number132.419 (-30.9%)
Profitability
Industry RankSector Rank
ROA 1.14%
ROE 14.56%
ROCE 3.35%
ROIC 1.45%
ROICexc 1.61%
ROICexgc 1.68%
OM 18.35%
PM (TTM) 13.58%
GM 55.13%
FCFM N/A
ROA(3y)0.97%
ROA(5y)1.01%
ROE(3y)11.81%
ROE(5y)11.95%
ROIC(3y)1.27%
ROIC(5y)1.31%
ROICexc(3y)1.41%
ROICexc(5y)1.48%
ROICexgc(3y)1.48%
ROICexgc(5y)1.56%
ROCE(3y)2.92%
ROCE(5y)3.05%
ROICexgc growth 3Y6.38%
ROICexgc growth 5Y2.27%
ROICexc growth 3Y6.82%
ROICexc growth 5Y2.22%
OM growth 3Y-4.95%
OM growth 5Y-7.71%
PM growth 3Y-5.29%
PM growth 5Y-7.41%
GM growth 3Y-10.21%
GM growth 5Y-8.75%
F-Score4
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 7.71
Debt/FCF N/A
Debt/EBITDA 32.35
Cap/Depr 62.22%
Cap/Sales 2.42%
Interest Coverage 0.47
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.3
Quick Ratio 0.3
Altman-Z -0.07
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)69.82%
Cap/Depr(5y)68.24%
Cap/Sales(3y)3.07%
Cap/Sales(5y)3.53%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)29.58%
EPS 3Y18.47%
EPS 5Y9.28%
EPS Q2Q%31.92%
EPS Next Y15.01%
EPS Next 2Y11.69%
EPS Next 3Y9.58%
EPS Next 5Y8.4%
Revenue 1Y (TTM)11.54%
Revenue growth 3Y21.98%
Revenue growth 5Y17.86%
Sales Q2Q%16.02%
Revenue Next Year8.97%
Revenue Next 2Y7.28%
Revenue Next 3Y6.28%
Revenue Next 5Y5.42%
EBIT growth 1Y24.77%
EBIT growth 3Y15.93%
EBIT growth 5Y8.77%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-889.86%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-1413.44%
OCF growth 3YN/A
OCF growth 5YN/A

MORGAN STANLEY / MS Fundamental Analysis FAQ

Can you provide the ChartMill fundamental rating for MORGAN STANLEY?

ChartMill assigns a fundamental rating of 3 / 10 to MS.


What is the valuation status of MORGAN STANLEY (MS) stock?

ChartMill assigns a valuation rating of 3 / 10 to MORGAN STANLEY (MS). This can be considered as Overvalued.


How profitable is MORGAN STANLEY (MS) stock?

MORGAN STANLEY (MS) has a profitability rating of 3 / 10.


What are the PE and PB ratios of MORGAN STANLEY (MS) stock?

The Price/Earnings (PE) ratio for MORGAN STANLEY (MS) is 17.36 and the Price/Book (PB) ratio is 2.71.


Is the dividend of MORGAN STANLEY sustainable?

The dividend rating of MORGAN STANLEY (MS) is 5 / 10 and the dividend payout ratio is 40.57%.