Morgan Stanley
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Morgan Stanley is an American multinational investment bank and financial services company. It is headquartered at 1585 Broadway in Midtown Manhattan, New York City, with offices in 42 countries, including offices in many financial centers worldwide.
From Wikipedia, CC BY-SA 4.0, revision of 23 Oct 2026.
What has the price done?
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Press and drag across the chart to see the change between two points. Source: Yahoo Finance, delayed. Bars are daily and prices are adjusted for splits, not dividends. Past returns don't predict future returns.
Dividends
Full chart
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How does it make money?
What it does is in the oven
We haven't typed up Morgan Stanley's business and region split yet. Every figure comes from the company's own results, so this takes a little time.
See companies we've covered ›History and context
Morgan Stanley is an American multinational investment bank and financial services company. It is headquartered at 1585 Broadway in Midtown Manhattan, New York City, with offices in 42 countries, including offices in many financial centers worldwide. Morgan Stanley is one of the largest investment banks by revenue. It is ranked 39th on the Fortune 500 and 21st on the Forbes Global 2000. It is considered a systemically important financial institution by the Financial Stability Board.
The company operates three divisions: institutional services, wealth management (Morgan Stanley Wealth Management), and investment management. The company receives revenues from market making for many types of financial products including equities, fixed income, and commodities (26% of 2025 revenues); net interest income (14% of 2025 revenues); investment management and wealth management (36% of 2025 revenues); investment banking (advisory for mergers and acquisitions and restructuring and securities underwriting, including initial public offerings) (12% of 2025 revenues); commissions and fees for clearing financial transactions (9% of 2025 revenues); and proprietary trading (2% of 2025 revenues).
From Wikipedia's article Morgan Stanley, the lead section as of the revision of 23 Oct 2026, retrieved 1 Nov 2026. Text under CC BY-SA 4.0, pronunciation guides removed. Wikipedia can be edited by anyone; the company's own filings are the primary source.
What it actually sells Soon
A product-by-product guide to Morgan Stanley: what each one is, who buys it, and how much it brings in, in plain English and in the company's own terms. We're starting with the companies that are hardest to picture, like Broadcom.
Moat not rated yet
We haven't rated Morgan Stanley's moat. A rating needs at least five years of returns against the cost of capital, plus evidence for each of the five lenses.
How we rate moats ›Is it a good business at a fair price?
What each method implies
Ranges, not targetsThe five questions, and the price
Six checks from the annual reports. A flag marks a reason to dig deeper, not a verdict.
- 1. Is it growing?
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Revenue growth over 5–10 years
Fewer than six years of revenue are tagged.
We need at least five years of sales to answer this.
What to look for Steady growth, not one lucky year.
- 2. Is it profitable?
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Operating margin (operating income ÷ revenue)
Operating margin doesn't describe a bank: interest paid is a cost of doing business, not financing.
For a bank, the better test is return on equity, in the next rows.
What to look for Stable or rising. It's cleaner than net income, which one-off items and tax can distort.
- 3. Is the profit real cash?
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Free cash flow (operating cash flow − capex), and FCF ÷ net income
Free cash flow doesn't fit a bank: lending and deposits run through operating cash flow.
A bank's cash flow swings with its loans and deposits, so this test doesn't apply.
What to look for FCF positive and growing, and close to net income over time.
- 4. Is it a good business?
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Return on invested capital (ROIC); ROE for banks
Not tagged in the 10-K.
We haven't rated this company's returns yet.
What to look for Clearly above the cost of capital (roughly 8–10%). Sustained 15%+ usually means a moat.
- 5. Can it survive a bad year?
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Net debt ÷ EBITDA or ÷ FCF, plus interest cover
Debt ratios don't fit a bank: borrowing is its raw material. Capital ratios (CET1) are the test, and we haven't typed them up yet.
For a bank, the safety test is how much capital it holds against its loans. Soon.
What to look for Debt payable from about 3 years of FCF or less, interest covered many times.
- 6. Is the price right?
18.1x P/E
FCF yield or EV/EBIT, and price against a cash-flow value
Market cap $289.5B. P/E 18.1x on FY2025 diluted EPS.
Buyers are paying about $18 for each $1 of last year's profit.
What to look for Pay less than a cash-flow value estimate, with a margin of safety.
Source: Price $184.30, Yahoo Finance weekly snapshot, 30 Oct 2026; 1,571M shares, 10-Q 31 Jul 2026; FY2025 10-K, filed 19 Feb 2026.
US figures: each company's Form 10-K as tagged on SEC EDGAR, collected 19 Oct 2026. Free cash flow is operating cash flow less purchases of property and equipment. Borrowings exclude leases. For education only. Not financial advice.
Ten years of financials
FY2016 to FY2025, in US dollars.
Source: Morgan Stanley, Form 10-K for each year as first filed, via SEC EDGAR XBRL. Latest: FY2025 10-K, filed 19 Feb 2026. Later restatements aren't applied.
How peers compare
Financials names we coverA sector is a loose fit — these are simply the financials names whose filings we've loaded, not a hand-picked set.
| Company | Revenue growth, 5y | Operating margin | P/E | EV/EBITDA |
|---|---|---|---|---|
| MS | — | — | 18.1x | — |
| BRK.B | +8.6% a year | — | — | — |
| JPM | +8.8% a year | — | 16.8x | — |
| V | +12.9% a year | 60.0% | — | — |
| MA | +16.5% a year | 57.6% | 38.6x | 29.3x |
| BAC | +5.7% a year | — | 13.1x | — |
- Peers' middle-half P/E
- 15.0x–27.7x (median 16.8x, 3 peers)
At the peers' middle-half P/E, Morgan Stanley's earnings per share from the FY2025 10-K would put the share between $153 and $283. Those are the peer bars in the valuation chart above — one way to read the price, not a target.
Prices: weekly screener snapshot, 30 Oct 2026. Profits: each company's latest annual filing via SEC EDGAR, as filed. Peers are same-sector names we cover, which is a looser fit. A multiple compares one year's profit with today's price; it says nothing about what either does next.
Not in Stock valuation yet
Stock valuation doesn't have Morgan Stanley's figures yet. You can still type them in: pick "Value your own company" and fill in the inputs from the latest results.
Value your own company ›Who owns it, and what's the mood?
Tracked investors and insiders
Trades in Morgan Stanley by the people we follow: Warren Buffett and Michael Burry (13F), Grab's officers (Form 4) and Nancy Pelosi (House reports). They show what happened, often weeks later, not what to copy.
None of the people we follow has reported a trade in Morgan Stanley in the filings we track.
Sources: SEC EDGAR 13F-HR and Form 4 filings, and the US House Clerk's Periodic Transaction Reports, checked 30 Oct 2026. 13F values are the quarter-end value, not the price paid. All tracked trades ›
- Largest shareholdersSoonThe biggest holders from 13F filings and the annual proxy statement.—
- Chief executive and board holdingsSoonShares held by the CEO and directors, from the proxy statement and Form 4s.—
- Short interestSoonHow many shares are sold short, from exchange short-interest reports.—
Crowd favourite or value trap?
Neither is a label we can put on a stock. These are signs worth looking into, each from a figure on this page.
Signs of a crowd-driven price
Meme stocks move on attention more than on results: big swings, a price far from cash-flow value, thin profits.
0 of 2 signs (2 without data)
- NoSwings at least twice as much as the marketBeta 1.24, 5 years of monthly returns
- NoUp more than 100%, or down more than 50%, in a year1-year price change +14.23%
- —Price more than 50% above the valuation sheet's middle valueNot in Stock valuation yet
- —Thin profits: operating margin under 5%, or a lossDoesn't fit a bank
Signs of a value trap
A value trap looks cheap because the business is shrinking or earning less than its capital costs.
0 of 2 signs (2 without data)
- NoLooks cheap: P/E under 12 or FCF yield over 8%P/E 18.1x
- —Revenue lower than five years agoFewer than six years of revenue
- —Returns below the cost of capitalNot rated yet
- NoMore than 30% below its 52-week high−20.6% from the 52-week high
Prices, beta and 1-year change: Yahoo Finance weekly snapshot, 30 Oct 2026. Business figures: the five questions under Valuation and financials. A sign is a reason to dig deeper, not a verdict. For education only. Not financial advice.
Read it through a lens
Price data: Yahoo Finance, delayed. Company figures: each company's own filings, dated where they appear. A ticker on this site is not a recommendation. For education only. Not financial advice.