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MORGAN STANLEY MS

NYSE · stock · Security Brokers, Dealers & Flotation Companies · website · IPO 1986-03-21 · LEI

MORGAN STANLEY statistics & valuation

Market cap$334.4B
P / E19.8×
P / B3.0×
Dividend yield1.97%
Return on equity15.0%
Net debt$230.0B
Enterprise value USD$564.4B
Graham number -41.4%$127.50

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($127.50); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
7.70% 7.80% 10.70% 10.90% 10.70% 14.10% 10.90% 9.10% 12.70% 15.00% 2016201720182019202020212022202320242025
Shares outstanding
1.89B 1.82B 1.74B 1.64B 1.81B 1.81B 1.71B 1.65B 1.61B 1.59B 2016201720182019202020212022202320242025
Net debt ($)
$87.42B $110.67B $100.92B $107.89B $107.73B $99.64B $105.74B $171.31B $178.92B $229.99B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
0.70% 0.70% 1.00% 1.00% 1.00% 1.30% 0.90% 0.80% 1.10% 1.20% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
2.14× 2.43× 2.31× 2.30× 2.07× 2.13× 2.31× 2.61× 2.70× 3.03× 2016201720182019202020212022202320242025
EPS ($)
$2.92 $3.07 $4.73 $5.19 $6.46 $8.03 $6.15 $5.18 $7.95 $10.21 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

MORGAN STANLEY trades at about 21.3× earnings — above its 10-year norm (10-year range 8.9×–18.4×, median 15.8×).

8.9× 21.3×

Shaded band = 10-year range (8.9×–18.4×); dot = today's 21.3×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Return on assets1.2%1.1%0.8%0.9%1.3%1.0%1.0%1.0%0.7%0.7%
Return on equity15.0%12.7%9.1%10.9%14.1%10.7%10.9%10.7%7.8%7.7%
Debt / equity3.03×2.70×2.61×2.31×2.13×2.07×2.30×2.31×2.43×2.14×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.