MORGAN STANLEY (MS) Fundamental Analysis & Valuation

NYSE:MS • US6174464486

Current stock price

158.55 USD
-0.38 (-0.24%)
At close:
158 USD
-0.55 (-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.
  • MS had a negative operating cash flow in the past year.
  • MS had positive earnings in each of the past 5 years.
  • The reported operating cash flow has been mixed in the past 5 years: MS reported negative operating cash flow in multiple 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

  • MS has a worse Return On Assets (1.14%) than 61.98% of its industry peers.
  • MS has a Return On Equity of 14.56%. This is in the better half of the industry: MS outperforms 73.97% 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 64.46% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MS is significantly below the industry average of 7.14%.
  • The last Return On Invested Capital (1.45%) for MS is above the 3 year average (1.27%), which is a sign of increasing profitability.
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

  • MS has a Profit Margin (13.58%) which is comparable to the rest of the industry.
  • MS's Profit Margin has declined in the last couple of years.
  • With a Operating Margin value of 18.35%, MS perfoms like the industry average, outperforming 42.15% of the companies in the same industry.
  • In the last couple of years the Operating Margin of MS has declined.
  • MS's Gross Margin of 55.13% is fine compared to the rest of the industry. MS outperforms 63.64% 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

  • The number of shares outstanding for MS has been reduced compared to 1 year ago.
  • Compared to 5 years ago, MS has less shares outstanding
  • MS has a worse debt/assets ratio than last year.
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 -0.09. This is a bad value and indicates that MS is not financially healthy and even has some risk of bankruptcy.
  • MS has a worse Altman-Z score (-0.09) than 76.45% 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 87.19% of its industry peers.
Industry RankSector Rank
Debt/Equity 7.71
Debt/FCF N/A
Altman-Z -0.09
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

  • A Current Ratio of 0.30 indicates that MS may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.30, MS is doing worse than 83.06% of the companies in the same industry.
  • MS has a Quick 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.
  • Looking at the Quick ratio, with a value of 0.30, MS is doing worse than 83.06% of the companies in the same industry.
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

  • The Earnings Per Share has grown by an impressive 28.59% over the past year.
  • The Earnings Per Share has been growing by 9.28% on average over the past years. This is quite good.
  • MS shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 11.54%.
  • 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)28.59%
EPS 3Y18.47%
EPS 5Y9.28%
EPS Q2Q%20.72%
Revenue 1Y (TTM)11.54%
Revenue growth 3Y21.98%
Revenue growth 5Y17.86%
Sales Q2Q%10.28%

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.
  • The Revenue is expected to grow by 5.42% on average over the next years.
EPS Next Y14.23%
EPS Next 2Y11.32%
EPS Next 3Y9.29%
EPS Next 5Y8.4%
Revenue Next Year8.79%
Revenue Next 2Y7.07%
Revenue Next 3Y6.18%
Revenue Next 5Y5.42%

3.3 Evolution

  • The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
  • 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

  • With a Price/Earnings ratio of 15.53, MS is valued correctly.
  • The rest of the industry has a similar Price/Earnings ratio as MS.
  • Compared to an average S&P500 Price/Earnings ratio of 25.73, MS is valued a bit cheaper.
  • MS is valuated correctly with a Price/Forward Earnings ratio of 13.59.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of MS is on the same level as its industry peers.
  • The average S&P500 Price/Forward Earnings ratio is at 23.72. MS is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 15.53
Fwd PE 13.59
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

  • 71.07% 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 19.19
MS Per share dataMS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

  • MS's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.09
PEG (5Y)1.67
EPS Next 2Y11.32%
EPS Next 3Y9.29%

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

6

5. MS Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 5.86%, MS is a good candidate for dividend investing.
  • Compared to an average industry Dividend Yield of 6.94, MS has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.91, MS pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.86%

5.2 History

  • The dividend of MS is nicely growing with an annual growth rate of 20.76%!
  • MS has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)20.76%
Div Incr Years0
Div Non Decr Years0
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.
  • The dividend of MS is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP40.57%
EPS Next 2Y11.32%
EPS Next 3Y9.29%
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 (3/19/2026, 8:17:35 PM)

Premarket: 158 -0.55 (-0.35%)

158.55

-0.38 (-0.24%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-15
Earnings (Next)04-15
Inst Owners62.53%
Inst Owner Change-0.1%
Ins Owners0.19%
Ins Owner Change0.01%
Market Cap251.76B
Revenue(TTM)119.66B
Net Income(TTM)16.25B
Analysts74.55
Price Target200.51 (26.46%)
Short Float %1.32%
Short Ratio2.13
Dividend
Industry RankSector Rank
Dividend Yield 5.86%
Yearly Dividend4.13
Dividend Growth(5Y)20.76%
DP40.57%
Div Incr Years0
Div Non Decr Years0
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)0.08%
PT rev (3m)15.8%
EPS NQ rev (1m)0.4%
EPS NQ rev (3m)5.2%
EPS NY rev (1m)-0.01%
EPS NY rev (3m)7.5%
Revenue NQ rev (1m)-0.18%
Revenue NQ rev (3m)1.74%
Revenue NY rev (1m)0.13%
Revenue NY rev (3m)3.09%
Valuation
Industry RankSector Rank
PE 15.53
Fwd PE 13.59
P/S 2.1
P/FCF N/A
P/OCF N/A
P/B 2.26
P/tB 2.83
EV/EBITDA 19.19
EPS(TTM)10.21
EY6.44%
EPS(NY)11.66
Fwd EY7.36%
FCF(TTM)-13.09
FCFYN/A
OCF(TTM)-11.27
OCFYN/A
SpS75.36
BVpS70.3
TBVpS55.98
PEG (NY)1.09
PEG (5Y)1.67
Graham Number127.08
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 -0.09
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)28.59%
EPS 3Y18.47%
EPS 5Y9.28%
EPS Q2Q%20.72%
EPS Next Y14.23%
EPS Next 2Y11.32%
EPS Next 3Y9.29%
EPS Next 5Y8.4%
Revenue 1Y (TTM)11.54%
Revenue growth 3Y21.98%
Revenue growth 5Y17.86%
Sales Q2Q%10.28%
Revenue Next Year8.79%
Revenue Next 2Y7.07%
Revenue Next 3Y6.18%
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.


What is the profitability of MS stock?

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


What is the valuation of MORGAN STANLEY based on its PE and PB ratios?

The Price/Earnings (PE) ratio for MORGAN STANLEY (MS) is 15.53 and the Price/Book (PB) ratio is 2.26.


What is the expected EPS growth for MORGAN STANLEY (MS) stock?

The Earnings per Share (EPS) of MORGAN STANLEY (MS) is expected to grow by 14.23% in the next year.