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Updated: Jun 10, 2026
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Morgan Stanley

NYSE:MS·Stock Analysis Report
Day Range
$206.27 - $210.24
Market Cap
327.41B
P/E Ratio
19.0444
Avg Value
$173.34
Year Range
$129.66 - $217.03
$207.28-$2.97 (-1.41%)
1
General Information
Morgan Stanley is a massive global financial services firm, with offices in 42 countries and more than 82,000 employees as of year-end 2025.

The firm cut its teeth in investment banking and institutional trading, where it maintains a strong presence today, but generates the lion share of its income from wealth and asset management franchises, where it boasted $9.3 trillion in client assets at the end of 2025. After reincorporation as a bank holding company in the wake of the global financial crisis, Morgan Stanley also boasts a top 10 banking franchise by deposits, with more than $400 billion in customer deposits, predominately attributable to cash sweeps from its wealth management and brokerage businesses.

2
Morgan Stanley (MS) Stock Graph
3
How We Grade Morgan Stanley (MS)

We grade stocks based on past performance, their future growth potential, intrinsic value, dividend history, and overall financial health.

The chart below shows how we grade Morgan Stanley (MS) across the board compared to its closest peers.

4
Benzinga Edge Rankings

Benzinga Edge stock rankings give you four critical scores to help you identify the strongest and weakest stocks to buy and sell.

70.43

Growth measures a stock's combined historical expansion in earnings and revenue across multiple time periods, with emphasis on both long-term trends and recent performance.

Momentum measures a stock's relative strength based on its price movement patterns and volatility over multiple timeframes, ranked as a percentile against other stocks.

31.33

Quality is a composite ranking that evaluates a company's operational efficiency and financial health by analyzing historical profitability metrics and fundamental strength indicators on a percentile basis relative to peers.

Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
5
Peer Ratings

See how Morgan Stanley compares to its peers in these key performance metrics from Benzinga Rankings.

Top Peers
Value
Quality
Growth
Momentum
Short
Medium
Long
GSGoldman Sachs Group
N/A
39.00
66.49
87.54
SCHWCharles Schwab
N/A
53.13
63.47
23.10
HOODRobinhood Markets
16.20
N/A
92.40
20.12
IBKRInteractive Brokers Group
58.10
78.60
90.78
89.53
Short: price trend over the last couple of months
Medium: price trend over the last couple of quarters
Long: price trend over the past year
Stock Score Locked: Want to See it?
Benzinga Rankings give you vital metrics on any stock – anytime.
6
Future Growth
Our estimate of future price growth is based on an aggregation of 9 analyst ratings over the past 3 months and their 12-month price targets.

Below, you can see that analysts are estimating a 12-month price target range of $190.00 - $230.00 with an average of $207.22

-0.17%
Expected movement for Morgan Stanley (MS) over the next 12 months
Based on these rankings

Recent Ratings for Morgan Stanley (MS)

Citigroup
Date:
May 8, 2026
Action:
Maintains
Prev. Target:
$170.00
New Target:
$194.00
Barclays
Date:
Apr 16, 2026
Action:
Maintains
Prev. Target:
$219.00
New Target:
$230.00
RBC Capital
Date:
Apr 16, 2026
Action:
Reiterates
Prev. Target:
$207.00
New Target:
$207.00
Wells Fargo
Date:
Apr 16, 2026
Action:
Maintains
Prev. Target:
$189.00
New Target:
$200.00
Keefe, Bruyette & Woods
Date:
Apr 16, 2026
Action:
Maintains
Prev. Target:
$210.00
New Target:
$218.00
Goldman Sachs
Date:
Apr 16, 2026
Action:
Maintains
Prev. Target:
$186.00
New Target:
$205.00
B of A Securities
Date:
Apr 16, 2026
Action:
Maintains
Prev. Target:
$220.00
New Target:
$225.00
UBS
Date:
Apr 7, 2026
Action:
Upgrades
Prev. Target:
$195.00
New Target:
$196.00
Evercore ISI Group
Date:
Apr 6, 2026
Action:
Maintains
Prev. Target:
$215.00
New Target:
$190.00
7
Valuation

Earnings History (3 years)

It is important to look at a companies earnings history to see not only if they are profitable, but if their earnings are growing.
As you can see from the chart above, MS's earnings have increased for the past three years, this is a positive sign for the stock.
8
Dividend
There are few things we like to see when evaluating the quality of a company's dividend history and future

Ideally, we would like to see a company have a long history of consistently high dividend payouts that have grown at a consistent rate. From here we want to be confident that this sort of dividend growth and consistency will persist into the future.

The chart below shows the historical trend in Morgan Stanley (MS) dividend yield on an annual basis.

-25.65%
Morgan Stanley (MS) saw a decrease in its dividend yield since 2021
9
Past Performance
How has Morgan Stanley (MS) performed over the past 5 years?

The two main factors that we consider when analyzing past performance is overall return and volatility

Using these two metrics, we can determine if this stock gave its investors enough return for the risk that they took on by owning it. This is measured by the sharpe ratio, which has been used as a primary measure of risk/reward trade-off for almost 60 years.

This ratio can be interpreted as the amount of return an investor has received for the amount of risk that they took on by owning the stock over that timeframe.

Morgan Stanley (MS) sharpe ratio over the past 5 years is 1.4585 which is considered to be above average compared to the peer average of 0.9499

10
Analyzing Morgan Stanley (MS) Recent Options Activity
Below, you can see the trend in options sentiment over the past 30 days.

Based on our data, MS's options trades have recently carried more negative sentiment than positive.

11
Company Financials
INCOME STATEMENT
The income statement also known as the profit and loss statement, primarily focuses on the company's revenues and expenses during a particular period.

The main purpose of an income statement is to convey details of profitability and business activities. Below, is MS's income statement for the previous four years along with its trailing-twelve- month profit & loss.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Revenue
50.21
50.67
57.62
65.97
68.77
Operating Revenue
50.21
50.67
57.62
65.97
68.77
Cost Of Revenue
Gross Profit
Operating Expense
Selling General And Administration
23.91
24.80
27.14
30.10
31.34
Research and Development
Operating Income
Net Non-Operating Interest Income Expense
Other Income Expense
Other Non-Operating Income Expenses
Pre-Tax Income
14.09
11.81
17.60
21.95
23.42
Tax Provision
2.91
2.58
4.07
4.93
5.13
Net Income
11.03
9.09
13.39
16.86
18.11
Net Income Common Stockholders
10.54
8.53
12.80
16.25
17.50
Total Operating Income As Reported
Total Expenses
Net Income From Continuing And Discontinued Operation
11.03
9.09
13.39
16.86
18.11
Normalized Income
11.40
9.47
13.49
16.97
18.11
Interest Income
21.59
50.28
54.13
59.06
60.59
Interest Expense
12.27
42.05
45.52
49.02
50.19
Net Interest Income
9.33
8.23
8.61
10.05
10.40
EBIT
EBITDA
Reconciled Cost Of Revenue
Reconciled Depreciation
4.00
4.26
5.16
4.66
4.51
Normalized EBITDA
Tax Rate For Calcs
0.00
0.00
0.00
0.00
0.20
Tax Effect Of Unusual Items
-0.10
-0.10
-0.03
-0.03
0.00
BALANCE SHEET
The balance sheet is a snapshot of a companies financials during a particular period in time.

It breaks down what company owns (assets) and what a company owes (liabilities), in order to give investors an overview of its capital structure.

FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Total Assets
1,180.23
1,193.69
1,215.07
1,420.27
1,581.42
Current Assets
Total Non-Current Assets
Total Liabilities Net Minority Interest
1,079.00
1,093.71
1,109.64
1,307.62
1,466.03
Current Liabilities
Other Non-Current Liabilities
Total Equity Gross Minority Interest
101.23
99.98
105.43
112.65
115.38
Stockholders Equity
Total Capitalization
341.22
366.50
393.29
461.02
484.82
Common Stock Equity
91.39
90.29
94.76
101.88
104.54
Net Tangible Assets
75.87
75.28
81.35
88.90
91.22
Working Capital
Invested Capital
337.61
366.68
405.18
472.42
498.77
Tangible Book Value
67.12
66.53
71.60
79.15
81.47
Total Debt
246.22
276.39
310.42
370.54
394.23
Net Debt
153.47
217.73
234.68
289.23
298.45
Share Issued
2.04
2.04
2.04
2.04
2.04
Ordinary Shares Number
1.68
1.63
1.61
1.58
1.58
CASH FLOW STATEMENTS
A companies statement of cash flows gives an investor a break down of the cash inflows and outflows from a companies operations and investment activities.
FISCAL YEAR (BIL.)
2022 ($)
2023 ($)
2024 ($)
2025 ($)
TTM ($)
Cash Flow from Continuing Operating Activities
-6.40
-33.54
1.36
-17.89
-1.01
Net Income from Continuing Operations
11.18
9.23
13.53
17.03
18.29
Depreciation and Amortization
4.00
4.26
5.16
4.66
4.51
Deferred Tax
Deferred Income Tax
Stock-Based Compensation
1.88
1.71
1.62
1.93
1.96
Other Non-Cash Items
0.62
0.31
0.00
0.41
0.48
Change in Working Capital
-23.50
-49.11
-19.37
-42.82
-27.12
Change in Receivables
14.66
0.60
-5.31
-26.64
-42.14
Changes in Account Receivables
14.66
0.60
Change in Inventory
Change in Payables and Accrued Expense
-4.90
-3.63
-25.55
50.71
57.99
Change in Payable
-4.90
-3.63
-25.55
50.71
57.99
Change in Account Payable
-4.90
-3.63
Change in Other Current Assets
Change in Other Current Liabilities
Change in Other Working Capital
-39.70
-49.37
31.90
-93.68
-83.70
Cash Flow from Continuing Investing Activities
-11.63
-3.08
-29.46
-46.78
-48.34
Net PPE Purchase and Sale
-3.08
-3.41
-3.46
-2.90
-2.94
Net Business Purchase and Sale
0.00
Purchase of Business
0.00
Net Investment Purchase and Sale
15.45
5.31
-1.90
-1.41
-0.68
Purchase of Investment
-29.83
-23.08
-39.19
-36.58
-42.67
Sale of Investment
45.28
28.39
37.29
35.17
41.99
Net Other Investing Changes
-0.35
-0.92
-1.48
-1.09
-1.38
Financing Cash Flow
22.71
-2.73
46.76
67.76
91.17
Cash Flow from Continuing Financing Activities
22.71
-2.73
46.76
67.76
91.17
Net Issuance Payments of Debt
37.56
13.62
28.14
39.78
56.82
Net Long-Term Debt Issuance
37.56
13.62
28.14
39.78
56.82
Long-Term Debt Issuance
72.46
78.42
108.36
139.17
162.93
Long-Term Debt Payments
-34.90
-64.81
-80.23
-99.39
-106.11
Net Short-Term Debt Issuance
Net Common Stock Issuance
-10.87
-6.18
-4.20
-5.83
-6.68
Common Stock Issuance
Common Stock Payments
-10.87
-6.18
-4.20
-5.83
-6.68
Cash Dividends Paid
-5.40
-5.76
-6.14
-6.59
-6.68
Net Other Financing Charges
-1.23
0.67
4.01
1.27
1.35
End Cash Position
507.19
413.88
388.93
415.30
458.09
Changes in Cash
4.69
-39.35
18.66
3.09
41.82
Beginning Cash Position
506.79
452.78
372.78
408.99
415.30
Capital Expenditure
-3.08
-3.41
-3.46
-2.90
-2.94
Issuance of Capital Stock
Issuance of Debt
72.46
78.42
108.36
139.17
162.93
Repayment of Debt
-34.90
-64.81
-80.23
-99.39
-106.11
Repurchase of Capital Stock
-10.87
-6.18
-4.20
-5.83
-6.68
Free Cash Flow
-9.47
-36.95
-2.10
-20.79
-3.95