MS
NYSE · USDMorgan Stanley
Financial Services · Financial - Capital Markets
CEO Edward N. Pick
Employees 83,000
R&D / revenue 0.0%
Last price
$180.54−0.86%last session
Market cap
$284.8B
P/E (TTM)
14.2x
From 52w high
−22.3%
From 52w low
+18.2%
1-year return
+15.4%
RSI 14 · vs SMA200
25.4 · −6.5%
IS score
23.6/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
MS SPY XLF (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe60Profitability
71Growth
58Value
30Momentum
100Risk (safety)
18Quality
49Balance sheet
35Earnings quality
Flags
Strengths
✓ Net cash✓ Congress buying
Warnings
▲ Negative free cash flow
Observations
Moat model: Narrow, Network EffectsPiotroski 7 / 9Beta 1.213 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
7 open-market sales, $11.0M
No Form 144 notices in 12 months
CONGSTOCK Act · 180 days
Congressional purchases
5
Last disclosed purchase 2026-07-10
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+240
361 new holders, 88 closed
2,753 filers hold 86.5% · 1,108 added, 947 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+277
1,412 funds adding shares
1,135 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
20.4%
20-day avg 29.9%, 50-day avg 34.1%
Latest 9.6 pp under its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$115.0B
Revenue growth YoY+11.5%
Gross margin57.1%
Operating income$22.0B
Operating margin19.1%
Net income$16.9B
Net margin14.7%
EPS (diluted)$10.20
Cash flow
Operating cash flow$49.0B
Capital expenditure$2.9B
Free cash flow$46.1B
FCF conversion (FCF / OCF)94.1%
Stock-based compensation$1.9B
FCF less SBC$44.2B
Buybacks$5.8B
Dividends$6.6B
Balance sheet & returns
Cash & short-term investments$540.0B
Total debt$471.4B
Net cash$68.6B
Shareholders' equity$112.7B
Goodwill & intangibles$22.7B
Debt / equity0.00
ROE (TTM)24.4%
ROIC (TTM)21.3%
Operating margin by fiscal year
Revenue $57.8B (FY2021) to $115.0B (FY2025), a 18.8% CAGR.
Valuation
P/E (TTM)14.2x
EV / EBITDA9.6x
Price / sales2.19x
Price / FCFn/m
FCF yield-5.51%
Buyback yield2.05%
SBC / revenue1.6%
Price / book0.00x
Forward P/E FY202614.1x
Forward P/E FY202713.1x
Forward P/E FY202812.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $223.63 across 8 analysts last quarter is theirs, not ours.
MS vs industry median
194 companies in Financial - Capital Markets
MS (TTM)Industry median
Asset turnover 0.08 vs industry 0.19 · financial leverage 0.00
Earnings delivery
Next report 2027-01-14 · consensus EPS $2.9192%
beat rate, 11 of 12 quarters
+15.6%
median EPS surprise
11
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2024-01-16 to 2026-10-14. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| MS Morgan Stanley | $284.8B | 14.2x | 24.4% | 15.8% | +11.5% | +15.4% |
| GS The Goldman Sachs Group, Inc | $256.6B | 12.5x | 17.0% | 17.2% | −6.8% | +16.7% |
| SCHW The Charles Schwab Corporati | $159.0B | 15.6x | 40.6% | 35.6% | +14.7% | −0.3% |
| HOOD Robinhood Markets, Inc. | $88.9B | 42.8x | 23.6% | 42.9% | +38.3% | −24.8% |
| WFC Wells Fargo & Company | $253.6B | 11.6x | 12.5% | 19.1% | +5.5% | +0.4% |
| HSBC HSBC Holdings plc | $324.6B | 13.5x | 13.8% | 23.2% | +8.7% | — |
| BAC Bank of America Corporation | $358.2B | 12.0x | 11.2% | 18.4% | +3.0% | — |
| AXP American Express Company | $211.8B | 19.0x | 34.4% | 14.4% | +9.4% | — |
12-month window: SPY +15.9%, sector ETF XLF +7.2%. Past returns describe history only.
Recent 8-K filings
No 8-K filings on file.
Context
Shares outstanding1,577,284,817
Free float75.6%
Institutional ownership86.5%
Beta1.21
Dividend yield2.30%
Last dividend$1.15 on 2026-10-30
50 / 200-day average$205.00 / $194.30
Mega-cap Financial Services median P/E14.6x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where MS sits among 41 scored companies in Financial - Capital Markets (0 = lowest value, 100 = highest). It is a position, not a grade. Balance-sheet ratios built for operating companies are n/a for lenders and insurers.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | MS | Industry percentile |
|---|---|---|
| P/E (TTM) | 14.1x | 50th |
| PEG (P/E ÷ 3-yr EPS CAGR) | 0.51 | 67th |
| Price / sales | 2.3x | 49th |
| Price / book | 2.6x | 49th |
| Price / tangible book | 3.8x | 49th |
| Price / free cash flow | n/a | |
| Price / operating cash flow | n/a | |
| Enterprise value | n/a | |
| EV / sales | n/a | |
| EV / EBITDA | n/a | |
| EV / EBIT | n/a | |
| EV / free cash flow | n/a | |
| Earnings yield | 7.1% | 68th |
| FCF yield | n/a | |
| Operating cash flow yield | n/a | |
| Graham number (per share) | $140.72 | 92nd |
Profitability (TTM)
| Measure | MS | Industry percentile |
|---|---|---|
| Gross margin | n/a | |
| EBITDA margin | n/a | |
| Operating margin | 20.7% | 62nd |
| EBIT margin | 20.7% | 68th |
| Net margin | 16.0% | 78th |
| NOPAT margin | 16.1% | 59th |
| FCF margin | n/a | |
| Operating cash flow margin | n/a | |
| R&D / revenue | 0.0% | 0th |
| SG&A / revenue | 31.2% | 61st |
| Stock comp / revenue | 1.6% | 32nd |
| Effective tax rate | 22.1% | 77th |
Returns on capital
| Measure | MS | Industry percentile |
|---|---|---|
| ROE (on average equity) | 18.5% | 67th |
| ROA | 1.3% | 50th |
| ROIC | n/a | |
| ROCE | n/a | |
| Return on tangible assets | 1.7% | 45th |
| Cash ROIC (OCF / invested capital) | n/a | |
| Gross profitability (GP / assets) | n/a | |
| ROIC, 3-yr average | n/a | |
| ROIC, 5-yr average | n/a | |
| ROE, 5-yr average | 13.1% | 64th |
| Incremental ROIC | n/a |
Growth
| Measure | MS | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 16.7% | 42nd |
| Revenue growth (QoQ) | 4.0% | 54th |
| Revenue CAGR, 3 yr | 17.9% | 28th |
| Revenue CAGR, 5 yr | 18.4% | 62nd |
| Gross profit CAGR, 3 yr | n/a | |
| Operating income CAGR, 3 yr | 27.1% | 56th |
| Net income growth (TTM YoY) | 37.1% | 48th |
| Net income CAGR, 3 yr | 26.3% | 33rd |
| EPS growth (TTM YoY) | 37.1% | 52nd |
| EPS CAGR, 3 yr | 27.9% | 47th |
| EPS CAGR, 5 yr | 11.2% | 62nd |
| FCF growth (TTM YoY) | n/a | |
| FCF CAGR, 3 yr | n/a | |
| Operating cash flow CAGR, 3 yr | n/a | |
| Book value CAGR, 3 yr | 4.5% | 40th |
| Dividend CAGR, 3 yr | 3.3% | 72nd |
| Sustainable growth rate | 12.3% | 36th |
Margin history & stability
| Measure | MS | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | n/a | |
| Operating margin, 3-yr average | 17.5% | 63rd |
| Net margin, 3-yr average | 13.4% | 78th |
| FCF margin, 3-yr average | n/a | |
| Revenue stability (0-1) | 0.99 | 100th |
| Earnings stability (0-1) | 0.28 | 46th |
| Margin stability (0-1) | 0.73 | 57th |
Liquidity (latest quarter)
| Measure | MS | Industry percentile |
|---|---|---|
| Cash & short-term investments | n/a | |
| Net cash (− = net debt) | n/a | |
| Working capital | n/a | |
| Current ratio | n/a | |
| Quick ratio | n/a | |
| Cash ratio (cash + ST investments / current liabilities) | n/a | |
| Defensive interval (days) | n/a |
Leverage & solvency (latest quarter)
| Measure | MS | Industry percentile |
|---|---|---|
| Total debt | n/a | |
| Debt / equity | n/a | |
| Net debt / equity | n/a | |
| Debt / assets | n/a | |
| Debt / capital | n/a | |
| Debt / EBITDA | n/a | |
| Net debt / EBITDA | n/a | |
| Interest coverage (EBIT / interest) | n/a | |
| Cash interest coverage | n/a | |
| Debt payback (years of OCF) | n/a | |
| Liabilities / assets | 93.3% | 88th |
| IS credit model rating | A- | |
| Implied credit spread (bps) | 175 | 45th |
Efficiency
| Measure | MS | Industry percentile |
|---|---|---|
| Asset turnover | n/a | |
| Fixed asset turnover | n/a | |
| Inventory turnover | n/a | |
| Receivables turnover | n/a | |
| Days sales outstanding | n/a | |
| Days inventory outstanding | n/a | |
| Days payables outstanding | n/a | |
| Cash conversion cycle (days) | n/a | |
| Capex / revenue | n/a | |
| Capex / depreciation | n/a | |
| Operating expense ratio | n/a |
Cash flow & earnings quality
| Measure | MS | Industry percentile |
|---|---|---|
| Operating cash flow / net income | n/a | |
| FCF / net income | n/a | |
| FCF / operating cash flow | n/a | |
| Capex / operating cash flow | n/a | |
| Accruals ratio | n/a | |
| Sloan accruals ratio | n/a | |
| Earnings quality score (0-1) | n/a |
Scores & forensic checks
| Measure | MS | Industry percentile |
|---|---|---|
| IS score | 24 | 20th |
| IS profitability | 60 | 68th |
| IS growth | 71 | 62nd |
| IS value | 58 | 57th |
| IS momentum | 30 | 15th |
| IS risk (safety) | 100 | 60th |
| IS quality | 18 | 5th |
| IS balance sheet | 49 | 45th |
| IS earnings quality | 35 | 15th |
| IS cash flow | 18 | 5th |
| Piotroski F-score (0-9) | 7 | 75th |
| Altman Z-score | — | |
| Beneish M-score | — | |
| Ohlson O-score | −7.35 | 21st |
| IS credit score | 68 | 52nd |
Size (TTM)
| Measure | MS | Industry percentile |
|---|---|---|
| Market cap | $284.8B | 100th |
| Revenue | $126.5B | 98th |
| EBITDA | $30.5B | 98th |
| Net income | $20.2B | 98th |
| Free cash flow | n/a | |
| Total assets | $1.68T | 98th |
| Shareholders' equity | $110.4B | 98th |
| Employees | 83,000 | 100th |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-09-22 | Mitsubishi Ufj Financial Group Inc 10 percent owner |
Return to issuer | 1,340,519 | $212.57 | $285.0M | 375,330,252 |
| 2026-07-30 | Mitsubishi Ufj Financial Group Inc 10 percent owner |
Return to issuer | 414,396 | $213.28 | $88.4M | 376,670,771 |
| 2026-07-28 | Schapiro Mary L Director |
Open-market sale | 1,000 | $212.06 | $212,055 | 40,843 |
| 2026-07-28 | Schapiro Mary L Director |
Gift | 2,325 | — | — | 38,518 |
| 2026-07-17 | Pizzi Michael A. Head Technology & Operations |
Open-market sale | 17,064 | $215.00 | $3.7M | 128,871 |
| 2026-07-17 | Pizzi Michael A. Head Technology & Operations |
Open-market sale | 7,101 | $216.88 | $1.5M | 121,770 |
| 2026-07-16 | Yeshaya Sharon Chief Financial Officer |
Open-market sale | 6,382 | $222.51 | $1.4M | 136,810 |
| 2026-07-16 | Yeshaya Sharon Chief Financial Officer |
Open-market sale | 9,172 | $222.51 | $2.0M | 0 |
| 2026-06-01 | Nally Dennis M Director |
Award / grant | 1,310 | — | — | 46,731 |
| 2026-06-01 | Nally Dennis M Director |
Award / grant | 345 | $209.96 | $72,500 | 47,076 |
| 2026-06-01 | Wilkins Rayford Jr Director |
Award / grant | 1,310 | — | — | 78,269 |
| 2026-06-01 | Butler Megan Director |
Award / grant | 1,310 | — | — | 6,019 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 17 | 17,491 | $372,500 |
| Gift | Disposed | 1 | 2,325 | — |
| Open-market sale | Disposed | 7 | 51,837 | $11.0M |
| Return to issuer | Disposed | 2 | 1,754,915 | $373.3M |
| Tax withholding | Disposed | 1 | 190 | $39,892 |
| — | Disposed | 1 | 0 | — |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| None on file. | |||
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 15 trades (6 purchases) · Senate 0 (0 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-07-10 | Dan Newhouse | House | Purchase | $1,001 - $15,000 | 2026-07-20 |
| 2026-07-10 | Daniel Milton Newhouse | House | Purchase | $1,001 - $15,000 | 2026-07-20 |
| 2026-07-09 | Daniel Milton Newhouse | House | Purchase | $1,001 - $15,000 | 2026-07-20 |
| 2026-06-05 | Ro Khanna | House | Purchase | $1,001 - $15,000 | 2026-07-08 |
| 2022-04-01 | Thomas R. Carper | Senate | Sale | $1,001 - $15,000 | 2022-05-03 |
| 2018-04-24 | Shelley Moore Capito | Senate | Sale (Full) | $1,001 - $15,000 | 2019-05-09 |
| 2018-04-24 | Shelley Moore Capito | Senate | Sale (Full) | $1,001 - $15,000 | 2019-05-08 |
| 2018-04-24 | Shelley Moore Capito | Senate | Sale (Full) | $1,001 - $15,000 | 2019-05-08 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| MITSUBISHI UFJ FINANCIAL GROUP INC | 377,085,167 | $78.8B | 23.91% |
| STATE STREET CORP | 99,560,815 | $20.8B | 6.31% |
| BlackRock, Inc. | 94,899,620 | $19.8B | 6.02% |
| VANGUARD CAPITAL MANAGEMENT LLC | 77,700,641 | $16.2B | 4.93% |
| JPMORGAN CHASE & CO | 38,540,114 | $8.2B | 2.44% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 30,203,228 | $6.3B | 1.91% |
| GEODE CAPITAL MANAGEMENT, LLC | 27,346,327 | $5.7B | 1.73% |
| Fisher Asset Management, LLC | 26,172,995 | $5.5B | 1.66% |
| FMR LLC | 24,903,987 | $5.2B | 1.58% |
| PRICE T ROWE ASSOCIATES INC /MD/ | 19,246,850 | $4.0B | 1.22% |
| Capital Research Global Investors | 18,070,606 | $3.8B | 1.15% |
| NORGES BANK | 17,984,532 | $3.8B | 1.14% |
| BANK OF AMERICA CORP /DE/ | 16,651,161 | $3.5B | 1.06% |
| AMERIPRISE FINANCIAL INC | 14,101,563 | $2.9B | 0.89% |
| GOLDMAN SACHS GROUP INC | 13,906,759 | $2.9B | 0.88% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2,753 | 86.5% | 361 | 1,108 | 947 | 88 |
| 2026-03-31 | 2,513 | 84.5% | 181 | 1,054 | 939 | 159 |
| 2025-12-31 | 2,535 | 85.9% | 399 | 969 | 838 | 74 |
| 2025-09-30 | 2,266 | 84.9% | 195 | 888 | 819 | 111 |
| 2025-06-30 | 2,212 | 86.3% | 247 | 899 | 773 | 117 |
| 2025-03-31 | 2,109 | 87.0% | 174 | 889 | 758 | 151 |
| 2024-12-31 | 2,120 | 86.6% | 360 | 706 | 790 | 81 |
| 2024-09-30 | 1,875 | 86.1% | 176 | 763 | 662 | 111 |
| 2024-06-30 | 1,833 | 86.0% | 172 | 742 | 657 | 111 |
| 2024-03-31 | 1,805 | 86.6% | 175 | 707 | 683 | 106 |
| 2023-12-31 | 1,766 | 87.7% | 248 | 604 | 716 | 122 |
| 2023-09-30 | 1,674 | 87.9% | 124 | 673 | 627 | 113 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| None on file. | ||||
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VITSX | 0.30% | $7.0B |
| VTI | 0.30% | $7.0B |
| VSMPX | 0.30% | $7.0B |
| VTSAX | 0.30% | $7.0B |
| VFFSX | 0.34% | $5.9B |
| VFINX | 0.34% | $5.9B |
Share structure
Shares outstanding1,577,284,817
Float1,192,406,585
Free float75.6%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $57.8B | $62.5B | $88.3B | $103.1B | $115.0B |
| Cost of revenue | $1.4B | $12.5B | $38.2B | $45.8B | $49.4B |
| Gross profit | $56.4B | $49.9B | $50.1B | $57.4B | $65.6B |
| R&D | $0 | $0 | $0 | $0 | $0 |
| SG&A | $25.3B | $24.0B | $25.1B | $27.1B | $30.2B |
| Operating income | $19.7B | $14.1B | $11.8B | $17.6B | $22.0B |
| EBITDA | $23.9B | $18.1B | $16.1B | $22.8B | $26.6B |
| Pretax income | $19.7B | $14.1B | $11.8B | $17.6B | $22.0B |
| Income tax | $4.5B | $2.9B | $2.6B | $4.1B | $4.9B |
| Net income | $15.0B | $11.0B | $9.1B | $13.4B | $16.9B |
| EPS, diluted | $8.03 | $6.15 | $5.18 | $7.95 | $10.20 |
| Diluted shares | 1.8B | 1.7B | 1.6B | 1.6B | 1.6B |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $500.4B | $467.9B | $461.9B | $401.6B | $540.0B |
| Receivables | $96.0B | $78.5B | $80.1B | $86.2B | $114.7B |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $596.4B | $546.4B | $542.0B | $487.7B | $654.7B |
| PP&E, net | $16.0M | $4.0M | $23.0M | $23.0M | $4.2B |
| Goodwill & intangibles | $25.2B | $24.3B | $23.8B | $23.2B | $22.7B |
| Total assets | $1.19T | $1.18T | $1.19T | $1.22T | $1.42T |
| Accounts payable | $228.7B | $216.1B | $208.1B | $175.9B | $415.5B |
| Total current liabilities | $772.5B | $756.8B | $747.8B | $739.5B | $559.6B |
| Long-term debt | $232.8B | $241.1B | $267.5B | $288.8B | $327.3B |
| Total liabilities | $1.08T | $1.08T | $1.09T | $1.11T | $1.31T |
| Shareholders' equity | $106.6B | $101.2B | $100.0B | $105.4B | $112.7B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $15.1B | $11.2B | $9.1B | $13.5B | $16.9B |
| Depreciation & amortization | $4.2B | $4.0B | $4.3B | $5.2B | $4.7B |
| Stock-based compensation | $2.1B | $1.9B | $1.7B | $1.6B | $1.9B |
| Change in working capital | $12.7B | −$23.5B | −$49.1B | −$19.4B | $24.1B |
| Operating cash flow | $34.0B | −$6.4B | −$33.5B | $1.4B | $49.0B |
| Capital expenditure | −$2.3B | −$3.1B | −$3.4B | −$3.5B | −$2.9B |
| Free cash flow | $31.7B | −$9.5B | −$36.9B | −$2.1B | $46.1B |
| Investing cash flow | −$49.9B | −$11.6B | −$3.1B | −$29.5B | −$144.2B |
| Net debt issued / repaid | $20.1B | $37.6B | $13.6B | $28.1B | $71.5B |
| Buybacks | −$12.1B | −$10.9B | −$6.2B | −$4.2B | −$5.8B |
| Dividends paid | −$4.2B | −$5.4B | −$5.8B | −$6.1B | −$6.6B |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 97.6% | 79.9% | 56.0% | 55.6% | 57.1% |
| Operating margin | 34.0% | 22.6% | 13.2% | 17.1% | 19.1% |
| Net margin | 26.0% | 17.7% | 10.2% | 13.0% | 14.7% |
| FCF margin | 54.8% | -15.2% | -41.3% | -2.0% | -15.6% |
| ROE | 14.5% | 10.7% | 9.1% | 13.2% | 15.6% |
| ROIC | -16.9% | -19.0% | -38.8% | 21.3% | 36.1% |
| ROA | 1.3% | 0.9% | 0.8% | 1.1% | 1.3% |
| Debt / equity | 2.90 | 3.08 | 3.42 | 3.45 | 4.26 |
| Interest coverage | 14.4x | 1.1x | 0.3x | 0.4x | 0.4x |
| Current ratio | 0.77 | 0.72 | 0.72 | 0.66 | 1.17 |
| Revenue growth | +16.2% | +8.1% | +43.3% | +15.2% | +11.5% |
| EPS growth | +38.0% | −22.0% | −15.0% | +49.1% | +27.1% |
| P/E at year end | 10.2x | 11.7x | 15.7x | 14.7x | 16.8x |
| EV / EBITDA at year end | n/m | n/m | 1.2x | 6.8x | 8.2x |
| FCF yield at year end | 20.70% | -7.35% | -25.95% | -1.07% | -6.33% |
| Dividend payout | 27.7% | 49.0% | 63.4% | 45.8% | 39.1% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Institutional Securities Segment | $29.8B | $24.4B | $23.1B | $28.1B | $33.1B |
| Wealth Management Segment | $24.2B | $24.4B | $26.3B | $28.4B | $31.8B |
| Investment Management Segment | $6.2B | $5.4B | $5.4B | $5.9B | $6.5B |
Revenue by region · FY2025
Americas$52.9B · 75%
Asia$9.4B · 13%
EMEA$8.3B · 12%
Street estimates by fiscal year
Next report 2027-01-14 · consensus EPS $2.91 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $82.2B | $81.0B – $83.1B | $12.84 | $12.57 – $13.04 | 15 | 14.1x |
| 2027 | $86.8B | $83.4B – $88.3B | $13.77 | $12.32 – $14.62 | 16 | 13.1x |
| 2028 | $91.8B | $85.0B – $96.7B | $14.96 | $11.79 – $16.69 | 13 | 12.1x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-10-14 | $2.93 | $3.03 | +3.4% | $19.9B | $20.3B | +2.1% |
| 2026-07-15 | $2.89 | $3.46 | +19.7% | $19.7B | $21.3B | +8.5% |
| 2026-04-15 | $3.02 | $3.43 | +13.6% | $19.7B | $20.6B | +4.3% |
| 2026-01-15 | $2.43 | $2.68 | +10.3% | $17.7B | $17.9B | +0.8% |
| 2025-10-15 | $2.10 | $2.80 | +33.3% | $16.7B | $17.1B | +2.4% |
| 2025-07-16 | $1.98 | $2.13 | +7.6% | $16.1B | $15.6B | −2.9% |
| 2025-04-11 | $2.21 | $2.60 | +17.6% | $16.5B | $16.5B | −0.1% |
| 2025-01-16 | $1.62 | $2.22 | +37.0% | $15.0B | $15.0B | +0.1% |
| 2024-10-16 | $1.58 | $1.88 | +19.0% | $14.4B | $14.3B | −0.1% |
| 2024-07-16 | $1.65 | $1.82 | +10.3% | $14.3B | $14.0B | −2.1% |
| 2024-04-16 | $1.66 | $2.02 | +21.7% | $14.4B | $14.2B | −1.3% |
| 2024-01-16 | $1.01 | $0.99 | −2.0% | $12.7B | $12.0B | −5.6% |
| 2023-10-18 | $1.28 | $1.38 | +7.8% | $12.6B | $12.4B | −1.3% |
| 2023-07-18 | $1.15 | $1.24 | +7.8% | $13.1B | $12.6B | −3.8% |
| 2023-04-19 | $1.62 | $1.70 | +4.9% | $13.9B | $13.6B | −2.1% |
| 2023-01-17 | $1.19 | $1.26 | +5.9% | $12.5B | $11.9B | −5.1% |
| 2022-10-14 | $1.49 | $1.47 | −1.3% | $13.3B | $12.1B | −8.7% |
| 2022-07-14 | $1.53 | $1.39 | −9.2% | $13.4B | $12.3B | −8.5% |
| 2022-04-14 | $1.68 | $2.02 | +20.2% | $14.2B | $13.9B | −2.3% |
| 2022-01-19 | $1.91 | $2.01 | +5.2% | $315.5B | $13.7B | −95.7% |
| 2021-10-14 | $1.68 | $1.98 | +17.9% | $13.7B | $13.6B | −0.1% |
| 2021-07-15 | $1.65 | $1.85 | +12.1% | $14.1B | $14.0B | −0.9% |
| 2021-04-16 | $1.70 | $2.19 | +28.8% | $10.5B | $14.4B | +36.6% |
| 2021-01-20 | $1.27 | $1.92 | +51.2% | $12.2B | $12.5B | +2.4% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $797.9M | 3,719,102 | 88,158 |
| 2026-08-24 | $715.2M | 3,332,103 | 81,606 |
| 2026-08-17 | $1.0B | 4,800,923 | 107,761 |
| 2026-08-10 | $899.6M | 4,140,050 | 87,045 |
| 2026-08-03 | $1.1B | 5,274,946 | 93,884 |
| 2026-07-27 | $1.7B | 8,020,818 | 143,899 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 20.4% | 690,296 | 3,388,239 |
| 2026-10-14 | 33.4% | 1,234,956 | 3,697,608 |
| 2026-10-13 | 45.4% | 1,409,950 | 3,102,921 |
| 2026-10-12 | 32.3% | 475,191 | 1,470,662 |
| 2026-10-09 | 23.9% | 405,895 | 1,697,371 |
| 2026-10-08 | 25.0% | 556,783 | 2,228,008 |
| 2026-10-07 | 26.7% | 598,903 | 2,240,475 |
| 2026-10-06 | 42.9% | 789,697 | 1,840,355 |
| 2026-10-05 | 36.3% | 576,847 | 1,591,016 |
| 2026-10-02 | 42.1% | 918,421 | 2,180,372 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +2.3% | 60% | 20 |
| Feb | −2.7% | 30% | 20 |
| Mar | −0.6% | 38% | 21 |
| Apr | +2.5% | 65% | 20 |
| May | −0.2% | 50% | 20 |
| Jun | −0.3% | 45% | 20 |
| Jul | +3.7% | 80% | 20 |
| Aug | −0.7% | 40% | 20 |
| Sep | −2.7% | 50% | 20 |
| Oct | +4.3% | 80% | 20 |
| Nov | +2.5% | 60% | 20 |
| Dec | +4.4% | 70% | 20 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1425.4
MFI28.8
ADX40.9
Stochastic %K / %D25.2 / 27.2
Williams %R-76.9
CCI-123
TSI / signal-42.0 / -35.9
Chaikin money flow0.01
ATR$4.96
Bollinger width13.0%
Volume vs 20-day avg0.94x
SupertrendDown
Moving averages and bands
level (price vs level)SMA 20$190.97 (−5.5%)
SMA 50$204.33 (−11.6%)
SMA 200$193.07 (−6.5%)
EMA 21$191.47 (−5.7%)
EMA 50$199.56 (−9.5%)
EMA 200$192.21 (−6.1%)
Bollinger upper$203.34 (−11.2%)
Bollinger lower$178.59 (+1.1%)
Parabolic SAR$192.63 (−6.3%)
Open the live chart, 110+ indicatorsAbout Morgan Stanley
Morgan Stanley operates as a prominent financial holding company, delivering a comprehensive suite of financial solutions and services. Its diverse clientele spans major corporations, governmental bodies, financial institutions, and individual clients across various global regions, including the Americas, Europe, the Middle East, Africa, and Asia. The firm's operations are structured into three primary divisions: Institutional Securities, Wealth Management, and Investment Management. Within the Institutional Securities segment, Morgan Stanley provides crucial capital-raising and strategic financial advisory services. This includes underwriting activities for debt, equity, and other financial instruments, alongside expert counsel on mergers and acquisitions, corporate reorganizations, real estate transactions, and project financing. Furthermore, this division is a key player in sales and trading, offering services like sales execution, financing solutions, prime brokerage, and market-making across equity and fixed-income products, encompassing foreign exchange and commodities. It also extends corporate and commercial real estate loans, furnishes secured lending facilities, supports sales and trading clients with financing, and engages in asset-backed and mortgage lending. Investment and research services, along with specific wealth management offerings, are also part of this segment. The Wealth Management segment caters to individual investors, as well as small to medium-sized enterprises and institutions. It offers a broad spectrum of services, from financial advisor-led and self-directed brokerage and investment guidance to comprehensive financial and wealth planning. This segment also delivers workplace solutions, such as stock plan administration, and provides annuity and insurance products. Lending options include securities-backed loans, residential real estate mortgages, and other credit facilities, complemented by banking and retirement plan services. Finally, the Investment Management segment is dedicated to providing specialized investment products, including equity, fixed income, liquidity, and alternative strategies. These offerings are distributed through institutional and intermediary channels to a sophisticated client base that features benefit and defined contribution plans, foundations, endowments, governmental entities, sovereign wealth funds, insurance companies, and corporate and third-party fund sponsors. Morgan Stanley's origins trace back to its founding in 1924, and its global headquarters are situated in New York, New York.
https://www.morganstanley.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Edward N. Pick | Chief Executive Officer & Chairman of the Board | $12.7M | 1969 |
| Andrew Michael Saperstein | Co-President | $12.3M | 1967 |
| Daniel Aaron Simkowitz | Co-President | $12.3M | 1966 |
| Eric F. Grossman | Executive Vice President and Chief Legal & Administrative Officer | $9.0M | 1967 |
| Sharon Yeshaya | Executive Vice President & Chief Financial Officer | $8.9M | 1980 |
| Michael A. Pizzi | Executive Vice President & Global Head of Technology and Operations | — | 1975 |
| Michael Wilson | Chief U.S. Equity Strategist & Chief Investment Officer | — | — |
| Robyn Maslynsky Goldschmid | Managing Director | — | — |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| None on file. | |||||
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-10-30 | $1.15 | 2026-11-13 |
| 2026-07-31 | $1.15 | 2026-08-14 |
| 2026-04-30 | $1 | 2026-05-15 |
| 2026-01-30 | $1 | 2026-02-13 |
| 2025-10-31 | $1 | 2025-11-14 |
| 2025-07-31 | $1 | 2025-08-15 |
| 2025-04-30 | $0.925 | 2025-05-15 |
| 2025-01-31 | $0.925 | 2025-02-14 |
Moat model
Narrow · Network Effects · 2026-06-30Cost advantage46
Intangibles61
Switching costs52
Network effect85
Efficient scale70
Our component scores (0-100) and overall 60.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17