Morgan Stanley (MS) Stock

Morgan Stanley (MS) is a Financials stock trading at $207.44 (as of 2026-08-20), with a market capitalization of $327.19B and a trailing P/E of 18.1. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Morgan Stanley, a financial holding company, offers financial products and services to corporations, governments, financial institutions, and individuals. It operates through Institutional Securities, Wealth Management, and Investment Management, providing capital raising and advisory, sales and trading, and brokerage and investment advisory services.

Understand Morgan Stanley: how it makes money

Morgan Stanley provides investment banking, trading, and wealth management services, earning money from capital raising and financial advisory (Institutional Securities), servicing individual and wealth clients (Wealth Management), and managing assets for investment clients (Investment Management).

Earnings are driven by a mix of market-driven client transactions (capital raising and advisory in Institutional Securities) and ongoing client relationship revenue (Wealth Management and Investment Management), so performance can reflect both deal flow and asset-based client activity.

Revenue by segment (latest quarter)
Institutional Securities$10.7B
Wealth Management$8.5B
Investment Management$1.5B

Business quality (Strong): Well-diversified across Institutional Securities and wealth and asset management, and it reported an operating margin of 34.1%, but its results are structurally tied to the level of client activity in capital markets and wealth management.

Valuation: At 20× earnings, MS trades 40% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Diversified revenue sources: The company operates through Institutional Securities, Wealth Management, and Investment Management segments, spreading revenue across capital markets activity and client wealth and asset management services.
  • Clear link to client activity areas: Institutional Securities is built around capital raising and financial advisory, while Wealth Management and Investment Management focus on serving and investing for clients, which provides multiple channels for growth.

Bear case

  • Sensitivity to capital markets activity: Because Institutional Securities includes underwriting and advisory services, results may be affected when issuance and advisory demand decline.
  • Dependence on client wealth and asset flows: Wealth Management and Investment Management revenues depend on ongoing client relationships and asset-based activity, which may fluctuate with market conditions.
Valuation — source: SEC EDGAR (first-party)
Price$207.44
Market Cap$327.19B
P/E Ratio18.1
EV / EBITDA19.9
Price / Book2.84
Price / Sales4.45
DCF Value (model)$116.80
DCF Upside vs Price-43.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$70.64B
Net Margin23.9%
Revenue Growth (YoY)16.0%
EPS Growth (YoY)32.4%
Valuation vs Sector & Industry
Stock P/E18.1
Sector P/E (Financials)15.1
Industry P/E (Trading)34.6
vs Sector19.3%
vs Industry-47.8%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)17
Top Institutional HolderMITSUBISHI UFJ FINANCIAL GROUP INC ($62.06B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorFinancials
IndustryTrading
CEOEdward N. Pick
Employees81,000
CountryUS
IPO Date1993-02-23

Related Companies (Business model: Investment Bank / Capital Markets + Asset Manager (Traditional + Alternatives); 8 closest by market cap; US-domiciled)

  • The Goldman Sachs Group, Inc. (GS)
  • The Charles Schwab Corporation (SCHW)
  • BlackRock, Inc. (BLK)
  • Blackstone Inc. (BX)
  • KKR & Co. Inc. (KKR)
  • Apollo Global Management, Inc. (APO)
  • Raymond James Financial, Inc. (RJF)
  • Stifel Financial Corp. (SF)
MS earnings history · MS institutional & insider holders · MS KPIs & operating metrics · MS financials · MS investor presentations & press releases · MS SEC filings · MS peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.