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MORGAN STANLEY (MS) Stock Fundamental Analysis

USA - NYSE:MS - US6174464486 - Common Stock

159.24 USD
+1.83 (+1.16%)
Last: 9/18/2025, 8:06:04 PM
159.35 USD
+0.11 (+0.07%)
After Hours: 9/18/2025, 8:06:04 PM
Fundamental Rating

3

MS gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 237 industry peers in the Capital Markets industry. MS may be in some trouble as it scores bad on both profitability and health. While showing a medium growth rate, MS is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

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.
In the past 5 years MS has always been profitable.
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B 40B

1.2 Ratios

The Return On Assets of MS (1.04%) is worse than 64.56% of its industry peers.
MS's Return On Equity of 13.07% is fine compared to the rest of the industry. MS outperforms 70.89% of its industry peers.
With a Return On Invested Capital value of 1.34%, MS is not doing good in the industry: 67.09% of the companies in the same industry are doing better.
MS had an Average Return On Invested Capital over the past 3 years of 1.17%. This is significantly below the industry average of 7.61%.
The last Return On Invested Capital (1.34%) for MS is above the 3 year average (1.17%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 1.04%
ROE 13.07%
ROIC 1.34%
ROA(3y)0.89%
ROA(5y)0.97%
ROE(3y)10.46%
ROE(5y)11.1%
ROIC(3y)1.17%
ROIC(5y)1.28%
MS Yearly ROA, ROE, ROICMS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

MS has a Profit Margin (12.51%) which is in line with its industry peers.
MS's Profit Margin has declined in the last couple of years.
MS's Operating Margin of 17.07% is on the low side compared to the rest of the industry. MS is outperformed by 62.45% of its industry peers.
In the last couple of years the Operating Margin of MS has declined.
MS has a better Gross Margin (54.42%) than 64.56% of its industry peers.
In the last couple of years the Gross Margin of MS has declined.
Industry RankSector Rank
OM 17.07%
PM (TTM) 12.51%
GM 54.42%
OM growth 3Y-20.12%
OM growth 5Y-4.82%
PM growth 3Y-20.6%
PM growth 5Y-5.48%
GM growth 3Y-16.51%
GM growth 5Y-5.78%
MS Yearly Profit, Operating, Gross MarginsMS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

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0

2. Health

2.1 Basic Checks

MS has less shares outstanding than it did 1 year ago.
The number of shares outstanding for MS has been increased 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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
MS Yearly Total Debt VS Total AssetsMS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B 800B 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 Altman-Z score of -0.09. This is in the lower half of the industry: MS underperforms 75.53% of its industry peers.
MS has a Debt/Equity ratio of 7.45. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 7.45, MS is doing worse than 87.76% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 7.45
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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100B 200B

2.3 Liquidity

A Current Ratio of 0.29 indicates that MS may have some problems paying its short term obligations.
MS has a Current ratio of 0.29. This is amonst the worse of the industry: MS underperforms 82.28% of its industry peers.
A Quick Ratio of 0.29 indicates that MS may have some problems paying its short term obligations.
With a Quick ratio value of 0.29, MS is not doing good in the industry: 81.86% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.29
Quick Ratio 0.29
MS Yearly Current Assets VS Current LiabilitesMS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200B 400B 600B

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6

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 42.19% over the past year.
MS shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.88% yearly.
MS shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.36%.
The Revenue has been growing by 14.79% on average over the past years. This is quite good.
EPS 1Y (TTM)42.19%
EPS 3Y-0.38%
EPS 5Y8.88%
EPS Q2Q%17.03%
Revenue 1Y (TTM)10.36%
Revenue growth 3Y20.63%
Revenue growth 5Y14.79%
Sales Q2Q%11.81%

3.2 Future

MS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.26% yearly.
The Revenue is expected to grow by 6.32% on average over the next years.
EPS Next Y15.42%
EPS Next 2Y11.49%
EPS Next 3Y10.88%
EPS Next 5Y10.26%
Revenue Next Year11.64%
Revenue Next 2Y8.04%
Revenue Next 3Y6.8%
Revenue Next 5Y6.32%

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 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 20B 40B 60B 80B 100B
MS Yearly EPS VS EstimatesMS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 5 10 15

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3

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 18.03, MS is valued on the expensive side.
MS's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of MS to the average of the S&P500 Index (27.41), we can say MS is valued slightly cheaper.
A Price/Forward Earnings ratio of 16.14 indicates a correct valuation of MS.
MS's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.88, MS is valued a bit cheaper.
Industry RankSector Rank
PE 18.03
Fwd PE 16.14
MS Price Earnings VS Forward Price EarningsMS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MS is valued a bit cheaper than 73.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 20.4
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)1.17
PEG (5Y)2.03
EPS Next 2Y11.49%
EPS Next 3Y10.88%

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4

5. Dividend

5.1 Amount

MS has a Yearly Dividend Yield of 2.41%.
Compared to an average industry Dividend Yield of 7.96, MS has a dividend in line with its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, MS has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.41%

5.2 History

The dividend of MS is nicely growing with an annual growth rate of 18.94%!
MS has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)18.94%
Div Incr Years0
Div Non Decr Years0
MS Yearly Dividends per shareMS Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

MS pays out 45.08% 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.
DP45.08%
EPS Next 2Y11.49%
EPS Next 3Y10.88%
MS Yearly Income VS Free CF VS DividendMS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B -20B
MS Dividend Payout.MS Dividend Payout, showing the Payout Ratio.MS Dividend Payout.PayoutRetained Earnings

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MORGAN STANLEY

NYSE:MS (9/18/2025, 8:06:04 PM)

After market: 159.35 +0.11 (+0.07%)

159.24

+1.83 (+1.16%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)07-16 2025-07-16/bmo
Earnings (Next)10-15 2025-10-15/bmo
Inst Owners63.02%
Inst Owner Change-1.87%
Ins Owners0.2%
Ins Owner Change-0.04%
Market Cap254.20B
Analysts73.13
Price Target148.56 (-6.71%)
Short Float %1.21%
Short Ratio2.9
Dividend
Industry RankSector Rank
Dividend Yield 2.41%
Yearly Dividend3.8
Dividend Growth(5Y)18.94%
DP45.08%
Div Incr Years0
Div Non Decr Years0
Ex-Date07-31 2025-07-31 (1)
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)10.13%
Min EPS beat(2)5.77%
Max EPS beat(2)14.48%
EPS beat(4)4
Avg EPS beat(4)15.64%
Min EPS beat(4)5.77%
Max EPS beat(4)27.07%
EPS beat(8)7
Avg EPS beat(8)10.97%
EPS beat(12)10
Avg EPS beat(12)7.76%
EPS beat(16)13
Avg EPS beat(16)7.12%
Revenue beat(2)2
Avg Revenue beat(2)2.67%
Min Revenue beat(2)1.43%
Max Revenue beat(2)3.91%
Revenue beat(4)4
Avg Revenue beat(4)3.45%
Min Revenue beat(4)1.43%
Max Revenue beat(4)4.78%
Revenue beat(8)6
Avg Revenue beat(8)1.67%
Revenue beat(12)9
Avg Revenue beat(12)12.16%
Revenue beat(16)12
Avg Revenue beat(16)9.8%
PT rev (1m)1.64%
PT rev (3m)15.31%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.66%
EPS NY rev (1m)3.33%
EPS NY rev (3m)2.67%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.12%
Revenue NY rev (1m)0.01%
Revenue NY rev (3m)2.37%
Valuation
Industry RankSector Rank
PE 18.03
Fwd PE 16.14
P/S 2.25
P/FCF N/A
P/OCF N/A
P/B 2.35
P/tB 2.98
EV/EBITDA 20.4
EPS(TTM)8.83
EY5.55%
EPS(NY)9.87
Fwd EY6.2%
FCF(TTM)-13.12
FCFYN/A
OCF(TTM)-11.07
OCFYN/A
SpS70.8
BVpS67.77
TBVpS53.41
PEG (NY)1.17
PEG (5Y)2.03
Profitability
Industry RankSector Rank
ROA 1.04%
ROE 13.07%
ROCE 3.03%
ROIC 1.34%
ROICexc 1.49%
ROICexgc 1.57%
OM 17.07%
PM (TTM) 12.51%
GM 54.42%
FCFM N/A
ROA(3y)0.89%
ROA(5y)0.97%
ROE(3y)10.46%
ROE(5y)11.1%
ROIC(3y)1.17%
ROIC(5y)1.28%
ROICexc(3y)1.31%
ROICexc(5y)1.45%
ROICexgc(3y)1.39%
ROICexgc(5y)1.53%
ROCE(3y)2.71%
ROCE(5y)2.95%
ROICexcg growth 3Y-7.03%
ROICexcg growth 5Y1.53%
ROICexc growth 3Y-6.98%
ROICexc growth 5Y1.26%
OM growth 3Y-20.12%
OM growth 5Y-4.82%
PM growth 3Y-20.6%
PM growth 5Y-5.48%
GM growth 3Y-16.51%
GM growth 5Y-5.78%
F-Score5
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 7.45
Debt/FCF N/A
Debt/EBITDA 33.05
Cap/Depr 64.3%
Cap/Sales 2.89%
Interest Coverage 0.4
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.29
Quick Ratio 0.29
Altman-Z -0.09
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)74.75%
Cap/Depr(5y)63.46%
Cap/Sales(3y)3.81%
Cap/Sales(5y)3.59%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)42.19%
EPS 3Y-0.38%
EPS 5Y8.88%
EPS Q2Q%17.03%
EPS Next Y15.42%
EPS Next 2Y11.49%
EPS Next 3Y10.88%
EPS Next 5Y10.26%
Revenue 1Y (TTM)10.36%
Revenue growth 3Y20.63%
Revenue growth 5Y14.79%
Sales Q2Q%11.81%
Revenue Next Year11.64%
Revenue Next 2Y8.04%
Revenue Next 3Y6.8%
Revenue Next 5Y6.32%
EBIT growth 1Y35.01%
EBIT growth 3Y-3.64%
EBIT growth 5Y9.26%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y52.7%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y56.99%
OCF growth 3Y-65.77%
OCF growth 5Y-49.33%