MORGAN STANLEY (MS) Fundamental Analysis & Valuation

NYSE:MS • US6174464486

Current stock price

166.55 USD
+0.74 (+0.45%)
At close:
166.75 USD
+0.2 (+0.12%)
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

  • In the past year MS was profitable.
  • MS had a negative operating cash flow in the past year.
  • Each year in the past 5 years MS has been profitable.
  • 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 Return On Assets of 1.14%. This is in the lower half of the industry: MS underperforms 61.09% of its industry peers.
  • MS's Return On Equity of 14.56% is fine compared to the rest of the industry. MS outperforms 72.80% of its industry peers.
  • MS's Return On Invested Capital of 1.45% is on the low side compared to the rest of the industry. MS is outperformed by 64.85% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for MS is significantly below the industry average of 7.24%.
  • 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

  • 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.
  • MS has a Operating Margin (18.35%) which is in line with its industry peers.
  • MS's Operating Margin has declined in the last couple of years.
  • Looking at the Gross Margin, with a value of 55.13%, MS is in the better half of the industry, outperforming 63.60% of the companies in the same industry.
  • MS's Gross Margin has declined in the last couple of years.
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

  • Compared to 1 year ago, MS has less shares outstanding
  • The number of shares outstanding for MS has been reduced compared to 5 years ago.
  • The debt/assets ratio for MS is higher compared to a year ago.
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

  • Based on the Altman-Z score of -0.08, we must say that MS is in the distress zone and has some risk of bankruptcy.
  • The Altman-Z score of MS (-0.08) is worse than 76.57% 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 88.28% of its industry peers.
Industry RankSector Rank
Debt/Equity 7.71
Debt/FCF N/A
Altman-Z -0.08
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.
  • The Current ratio of MS (0.30) is worse than 83.68% of its industry peers.
  • 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.
  • MS has a Quick ratio of 0.30. This is amonst the worse of the industry: MS underperforms 83.68% 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

  • 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%.
  • The Revenue has been growing by 17.86% on average over the past years. This is quite good.
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

  • The Earnings Per Share is expected to grow by 8.40% on average over the next years. This is quite good.
  • MS is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.42% yearly.
EPS Next Y14.23%
EPS Next 2Y11.32%
EPS Next 3Y9.29%
EPS Next 5Y8.4%
Revenue Next Year9.12%
Revenue Next 2Y7.24%
Revenue Next 3Y6.19%
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

  • A Price/Earnings ratio of 16.31 indicates a correct valuation of MS.
  • Compared to the rest of the industry, the Price/Earnings ratio of MS is on the same level as its industry peers.
  • When comparing the Price/Earnings ratio of MS to the average of the S&P500 Index (26.21), we can say MS is valued slightly cheaper.
  • MS is valuated correctly with a Price/Forward Earnings ratio of 14.28.
  • The rest of the industry has a similar Price/Forward Earnings ratio as MS.
  • The average S&P500 Price/Forward Earnings ratio is at 23.13. MS is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 16.31
Fwd PE 14.28
MS Price Earnings VS Forward Price EarningsMS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • 70.71% 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 19.66
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)1.15
PEG (5Y)1.76
EPS Next 2Y11.32%
EPS Next 3Y9.29%

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

5

5. MS Dividend Analysis

5.1 Amount

  • MS has a Yearly Dividend Yield of 2.53%.
  • MS's Dividend Yield is comparable with the industry average which is at 6.90.
  • MS's Dividend Yield is a higher than the S&P500 average which is at 1.89.
Industry RankSector Rank
Dividend Yield 2.53%

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.
  • 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.
  • 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 (4/6/2026, 8:04:00 PM)

Premarket: 166.75 +0.2 (+0.12%)

166.55

+0.74 (+0.45%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)01-15
Earnings (Next)04-15
Inst Owners62.53%
Inst Owner Change0%
Ins Owners0.19%
Ins Owner Change0.01%
Market Cap264.46B
Revenue(TTM)119.66B
Net Income(TTM)16.25B
Analysts74.55
Price Target199.22 (19.62%)
Short Float %1.48%
Short Ratio2.26
Dividend
Industry RankSector Rank
Dividend Yield 2.53%
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)-0.64%
PT rev (3m)12.9%
EPS NQ rev (1m)1.68%
EPS NQ rev (3m)5.33%
EPS NY rev (1m)-0.01%
EPS NY rev (3m)7.17%
Revenue NQ rev (1m)1.59%
Revenue NQ rev (3m)3.37%
Revenue NY rev (1m)0.31%
Revenue NY rev (3m)3.31%
Valuation
Industry RankSector Rank
PE 16.31
Fwd PE 14.28
P/S 2.21
P/FCF N/A
P/OCF N/A
P/B 2.37
P/tB 2.97
EV/EBITDA 19.66
EPS(TTM)10.21
EY6.13%
EPS(NY)11.66
Fwd EY7%
FCF(TTM)-13.09
FCFYN/A
OCF(TTM)-11.27
OCFYN/A
SpS75.36
BVpS70.3
TBVpS55.98
PEG (NY)1.15
PEG (5Y)1.76
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 -0.08
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 Year9.12%
Revenue Next 2Y7.24%
Revenue Next 3Y6.19%
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 16.31 and the Price/Book (PB) ratio is 2.37.


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%.