Morgan Stanley (MS): analysis in plain words
Is Morgan Stanley cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Morgan Stanley (MS) is listed on the NYSE and we classify it in banking. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Morgan Stanley according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Morgan Stanley (MS) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $193.97 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 15.4x | Price over earnings per share |
| Revenue growth | +10.8% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 25.6% | Profit for every 100 of sales |
| Net debt / EBITDA | Not meaningful (financial company) | Years of operating profit to repay debt |
| Dividend yield | 2.47% | Annual dividend over price |
| Market cap | $303.6 billion | What the stock market values it at |
The Morgan Stanley figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any MS figure that is not available shows as N/A: we do not estimate it.
How Morgan Stanley makes money
Morgan Stanley has two core businesses. Wealth Management advises individuals and manages their money, including through E*Trade, earning fees on client assets. Institutional Securities handles investment banking, IPOs and trading in stocks and bonds for institutions. A smaller Investment Management segment runs funds for investors.
Over the last 12 months, Morgan Stanley brought in revenue of $79.8 billion. For every 100 it sells, Morgan Stanley keeps 87.3 after the direct cost of what it sells (gross margin) and 39.9 after all operating costs (operating margin). With 83,728 full-time employees, that is about $953,000 of revenue per employee.
Morgan Stanley against its sector
To know whether a Morgan Stanley figure is high or low you have to put it next to similar companies. This table compares Morgan Stanley with the median of the 20 banking companies Fintols covers, with data as of November 4, 2026.
| Figure | Morgan Stanley | banking median |
|---|---|---|
| P/E | 15.4x | 12.2x (20) |
| Revenue growth | +10.8% | +7.3% (20) |
| Net margin | 25.6% | 32.6% (20) |
| Dividend yield | 2.47% | 3.55% (20) |
In short, against the typical banking company, Morgan Stanley trades on a higher P/E, grows faster and earns a thinner margin. By size, Morgan Stanley ranks number 3 of 8 banking companies quoted in USD on Fintols.
The bull case for Morgan Stanley
What works in favour of Morgan Stanley, according to its figures as of November 4, 2026:
- Morgan Stanley keeps 25.6 of every 100 it sells as net profit, against 32.6 for the median banking company: a margin like that leaves money to invest, buy back shares or pay dividends.
- Morgan Stanley grew sales +10.8% in its latest quarter against the same quarter a year earlier, while the median banking company Fintols tracks grew +7.3%.
The main risk for Morgan Stanley
The Morgan Stanley figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: falling interest rates (which squeeze what it earns on loans) or rising bad loans if the economy weakens.
Frequently asked questions about Morgan Stanley
Is it a good time to buy Morgan Stanley stock?
Fintols does not tell you whether to buy or sell Morgan Stanley, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Morgan Stanley stock trades at $193.97, 16% below its 52-week high ($232.25) and 27% above its low ($152.80). Its P/E is 15.4x against a banking median of 12.2x, and 14.2x on the earnings analysts expect over the next 12 months. With Morgan Stanley, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Morgan Stanley pay a dividend?
Yes. As of November 4, 2026, Morgan Stanley pays $4.60 per share a year, which at today's price is a yield of 2.47%. It uses 32% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 2.84%. The banking median on Fintols is 3.55%.
Is Morgan Stanley stock expensive?
It depends on what you compare it with. On P/E, Morgan Stanley trades at 15.4x its last 12 months of earnings: more expensive than the banking median (12.2x). For a financial company you also look at price to book value: 2.9x (banking median: 1.7x). A high P/E alone does not make Morgan Stanley expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Morgan Stanley's competitors?
On Fintols we compare Morgan Stanley with Wells Fargo, BNY and U.S. Bancorp, which are also in banking. As of November 4, 2026, Wells Fargo is worth $262.5 billion and trades on a P/E of 12.3; U.S. Bancorp is worth $95.1 billion and trades on a P/E of 11.9. Each has a side-by-side comparison with Morgan Stanley below.
Morgan Stanley competitors
- Wells Fargo (WFC) analysis · Morgan Stanley vs Wells Fargo comparison
- BNY (BK) analysis · Morgan Stanley vs BNY comparison
- U.S. Bancorp (USB) analysis · Morgan Stanley vs U.S. Bancorp comparison
To understand Morgan Stanley better
- How to Read a Balance Sheet: A Beginner's Guide
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Morgan Stanley: banking stocks, S&P 500 companies and S&P 100 companies. Open the full MS analysis with its valuation and scenarios. Educational content about Morgan Stanley, not investment advice.