Morgan Stanley
- Open
- 215.65
- Day high
- 218.38
- Day low
- 207.40
- Prev close
- 218.37
- Volume
- 6.7M
- Mkt cap
- $339.9B
- P/E (TTM)
- 17.3
- EPS (TTM)
- $12.44
- P/B
- —
- P/S
- 2.7
- Yield
- 1.86%
- Per share
- $4.00
- ▼Insiders net selling -$16.6M over the last 3 months (0 open-market buys, 11 sales)
- 🏛Institutions accumulating (13F)
Morgan Stanley (MS) is a Financial Services company listed on NYSE. The stock is up 53% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 11 sales (SEC Form 4). Drillr has 12 published research articles covering MS.
Morgan Stanley (MS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 12 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
MS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 15, 2026 | $2.89 | $3.46 | +19.7% | $21.3B | +8.5% |
| Apr 15, 2026 | $3.02 | $3.43 | +13.6% | $20.6B | +4.3% |
| Jan 15, 2026 | $2.43 | $2.68 | +10.3% | $17.9B | +0.8% |
| Oct 15, 2025 | $2.10 | $2.80 | +33.3% | $17.1B | +2.4% |
| Jul 16, 2025 | $1.98 | $2.13 | +7.6% | $15.6B | -2.9% |
| Apr 11, 2025 | $2.21 | $2.60 | +17.6% | $16.5B | -0.1% |
| Jan 16, 2025 | $1.62 | $2.22 | +37.0% | $15.0B | +0.1% |
| Oct 16, 2024 | $1.58 | $1.88 | +19.0% | $14.3B | -0.1% |
| Jul 16, 2024 | $1.65 | $1.82 | +10.3% | $14.0B | -2.1% |
| Apr 16, 2024 | $1.66 | $2.02 | +21.7% | $14.2B | -1.3% |
| Jan 16, 2024 | $1.01 | $0.99 | -2.0% | $12.0B | -5.6% |
| Oct 18, 2023 | $1.28 | $1.38 | +7.8% | $12.4B | -1.3% |
MS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 2, 2026 | WILKINS RAYFORD JRdirector | Grant | 1,310 | — |
| Jun 2, 2026 | Peterson Douglas L.director | Grant | 274 | $209.96 |
| Jun 2, 2026 | James Erika Hdirector | Grant | 1,310 | — |
| Jun 2, 2026 | Herz Robert Hdirector | Grant | 1,310 | — |
| Jun 2, 2026 | SCHAPIRO MARY Ldirector | Grant | 1,310 | — |
| Jun 2, 2026 | TRAQUINA PERRY Mdirector | Grant | 369 | $209.96 |
| Jun 2, 2026 | TRAQUINA PERRY Mdirector | Grant | 1,310 | — |
| Jun 2, 2026 | GOOD LYNN Jdirector | Grant | 1,310 | — |
| Jun 2, 2026 | Miscik Judith Adirector | Grant | 1,310 | — |
| Jun 2, 2026 | GLOCER THOMAS Hdirector | Grant | 512 | $209.96 |
| Jun 2, 2026 | NALLY DENNIS Mdirector | Grant | 345 | $209.96 |
| Jun 2, 2026 | Leibowitz Shelley Bdirector | Grant | 1,310 | — |
| Jun 2, 2026 | BUTLER MEGANdirector | Grant | 1,310 | — |
| Jun 2, 2026 | GOOD LYNN Jdirector | Grant | 274 | $209.96 |
| Jun 2, 2026 | GLOCER THOMAS Hdirector | Grant | 1,310 | — |
Source: MS SEC Form 4 filings, latest Jun 2, 2026. For informational purposes only — not investment advice.
See the full MS insider & 13F page →MS research & analysis
GS Stock: SpaceX IPO Fees and Retail Risk
GS lead bookrunner on SpaceX 4x oversubscribed IPO. Single deal $300-400M net economics. Retail allocation creates underwriter risk dynamics.
GSCGS, JPM, MS: Wall Street AI Won't Replace Investment Bankers
Goldman Solomon: 'no AI jobs apocalypse'. GS/JPM/MS price margin expansion (productivity) not headcount compression. Cohort positioning across three scenarios.
GSJPMBACWhich Banks Capture the $197B IPO Wave: Goldman and Morgan Stanley or the Diversified Giants?
Blackstone's Q1 beat and 'best year ever' IPO forecast confirm the $197B pipeline is executable, yet Goldman Sachs and Morgan Stanley trade at the same 12-13x forward multiple as JPMorgan despite deriving 18-22% of revenue from investment banking versus JPM's 7%. Long GS and MS versus JPM over six months targets 8-12% relative return as Q2 and Q3 underwriting revenue surfaces the fee differential.
GSCOINBXFed Private Credit Crackdown: JPM at Risk While BX, APO, KKR Stand to Win
The Federal Reserve's scrutiny of banks' private credit exposure creates a divergence in financial stocks: traditional banks like JPMorgan face regulatory risks while alternative asset managers like Blackstone and Apollo stand to gain market share. This analysis ranks six financial giants based on their exposure and positioning for the coming regulatory changes.
JPMGSBXMS Launches Lowest-Cost Bitcoin ETF — COIN and 5 Stocks Set to Capture Institutional Flows
Morgan Stanley's launch of the lowest-cost Bitcoin ETF marks a milestone in institutional adoption, benefiting custodians like COIN and BK, exchanges CME/NDAQ, issuer MS, and proxy MSTR. Analysis ranks COIN top for its ETF custody dominance amid record volumes and diversification. Watch ETF inflows and crypto derivatives growth as key catalysts.
MSTRCOINBKSpaceX IPO 2026: GS & MS Eye Fee Windfall as AI Unicorn Pipeline Breaks Open
See It Market's report on easing 2026 IPO bottlenecks—with SpaceX and AI unicorns leading—positions MS and GS for fee windfalls amid rebounding underwriting pipelines. Recent 20%+ IB revenue growth and healthy backlogs support bullish calls, while ARKK eyes innovation upside despite YTD lags.
GSARKKPPI Report + Fed Rate Delay: Why JPM, BAC and WFC Are the Surprise Winners
Resilient U.S. labor data ahead of PPI and Goldman earnings signals fewer Fed cuts, boosting big banks' NII. JPM, BAC, and WFC lead with strong deposits and growth guidance, while GS and COF lag on exposure.
JPMBACWFCSEC Options Roundtable: CBOE and ICE Face Fee Reform as PFOF Scrutiny Hits SCHW, IBKR
SEC's options roundtable agenda release advances reform talks on liquidity and fees, spotlighting ICE and CBOE's dominance amid record volumes. Brokers like SCHW/IBKR face PFOF scrutiny, but exchanges' premiums reflect growth tailwinds. Neutral outlook favors scaled players.
ICECBOESCHWUS-Iran Ceasefire Talks: Oil's Next Move Could Make or Break XLE's 8% Rally
Jane Fraser's NY Fed Council appointment spotlights big banks' rotating regulatory influence, with JPM, Citi, and MS best positioned for policy foresight amid flat TTM growth and weak shares. Analysis ranks six majors by exposure, metrics, and conviction. Key: NII guidance and Basel outcomes to track.
CJPMBACQ1 M&A Megadeal Surge: EVR and HLI Ranked Ahead of MS, GS, JPM for Advisory Fees
Anchored in Morgan Stanley's insights on AI, energy, and oil driving M&A, this analyzes six firms' exposure to Q1's megadeal boom. Boutiques like Evercore and Houlihan Lokey lead conviction rankings due to high-margin advisory focus, followed by bulge-bracket giants.
GSJPMBACIran Conflict Stresses Credit Markets: 6 Bank and Bond ETF Plays Ranked
Iran conflict signals stress US short-term credit, benefiting safe Treasuries like SHY and resilient banks like JPM while pressuring leveraged names like WFC and corporate bonds like LQD. Analysis ranks 6 plays by exposure and valuation. Key metrics show banks' liquidity buffers amid recent price weakness.
JPMBACWFCECB Tightening Warning: JPM, BAC, and CAT Among 6 Stocks With Most EU Revenue at Risk
FT's April 8 warning on ECB tightening revives 2011 fears, hammering US-exposed stocks. JPM, BAC, MS, CAT, HON, and PLD—holding 13-23% Europe revenue—top the risk list amid negative returns and slowing growth. Ranked bears: BAC leads vulnerability.
JPMCATPLD
Morgan Stanley company profile
Overview
Morgan Stanley (NYSE:MS) is a leading global financial services firm founded in 1935 by Henry S. Morgan and Harold Stanley. The company emerged from the Glass-Steagall Act's requirement to separate commercial and investment banking activities, spinning off from J.P. Morgan & Co. Headquartered in New York, Morgan Stanley has evolved into one of the world's premier investment banks and wealth management firms, serving corporations, governments, financial institutions, and individuals across the Americas, Europe, the Middle East, Africa, and Asia. The firm operates through three primary business segments and has positioned itself as an integrated financial services provider focused on raising, managing, and allocating capital for clients worldwide.
Business
Morgan Stanley operates as a comprehensive financial services firm across three distinct business segments, each serving different client bases and market needs. Institutional Securities represents the firm's traditional investment banking and capital markets business, generating approximately 27% of total revenues. This segment provides capital raising services through underwriting of debt, equity, and other securities for corporate and government clients. The division also offers financial advisory services including mergers and acquisitions advice, restructuring guidance, real estate transactions, and project finance. Additionally, it operates sales and trading desks that provide market-making services, prime brokerage, and financing across equity and fixed income products, foreign exchange, and commodities. The segment also extends corporate and commercial real estate loans and provides research services to institutional clients. Wealth Management is the firm's largest revenue generator, accounting for approximately 28% of total revenues and serving over 19 million client relationships. This segment provides comprehensive financial services to high-net-worth individuals, families, and small-to-medium businesses through a network of financial advisors. Services include brokerage and investment advisory services, financial and wealth planning, workplace retirement services including stock plan administration, annuity and insurance products, securities-based lending, residential real estate loans, and banking services. The division also operates the E*TRADE platform for self-directed investors, providing digital brokerage services. Investment Management generates approximately 6% of total revenues and manages assets for institutional clients including pension plans, foundations, endowments, government entities, sovereign wealth funds, and insurance companies. The segment offers equity, fixed income, liquidity, and alternative investment products through both institutional and intermediary channels. This division includes the Parametric platform for customized portfolio solutions and various alternative investment strategies. The business focuses on providing sophisticated investment solutions and has been expanding its alternative investment offerings to meet growing institutional demand. The firm's integrated approach allows it to cross-sell services across segments, leveraging relationships in one area to generate business in others. For example, corporate clients served by Institutional Securities may also use the firm's wealth management services for executive compensation plans, while wealthy individuals may invest in alternative products managed by the Investment Management division.
Revenue model
Morgan Stanley generates revenue through multiple complementary business models across its three segments, creating a diversified income stream that helps stabilize earnings through market cycles. The Institutional Securities segment operates on a transaction-based and advisory fee model. Investment banking revenues come from underwriting fees charged as a percentage of securities issued, advisory fees for M&A transactions typically ranging from 0.5% to 1.5% of deal value, and ongoing advisory retainers. Sales and trading operations generate revenue through bid-ask spreads, commissions, and financing fees charged to institutional clients. Prime brokerage services earn fees from securities lending, margin financing, and custody services provided to hedge funds and other institutional investors. The Wealth Management segment primarily operates on an asset-based fee model, generating recurring revenue through management fees typically ranging from 0.5% to 2.5% of assets under management depending on service level and asset class. The segment also earns transaction-based brokerage commissions, though the firm has been strategically shifting toward fee-based advisory relationships for more predictable revenue streams. Additional income sources include net interest income from client deposits and lending activities, product sales commissions from insurance and annuity products, and fees from workplace retirement plan administration. The Investment Management segment generates revenue primarily through management fees calculated as a percentage of assets under management, typically ranging from 0.25% to 2.0% depending on the investment strategy and client type. Alternative investment strategies often include performance fees (carried interest) when returns exceed certain benchmarks, providing additional upside during strong performance periods. Several factors significantly impact the firm's profitability margins. Market volatility and trading volumes directly affect institutional securities revenues, as higher volatility typically increases client trading activity and bid-ask spreads. Interest rate environments substantially impact wealth management margins, as rising rates increase net interest income from client deposits and lending while potentially reducing asset valuations. Equity market performance affects asset-based fees across both wealth management and investment management segments, as higher market levels increase assets under management and corresponding fee income. Regulatory changes, particularly around capital requirements and trading activities, can increase compliance costs and limit certain revenue opportunities. Competition from fintech platforms, robo-advisors, and alternative asset managers pressures fee structures, while economic uncertainty affects client activity levels and new business generation across all segments.
Competitive moat
Morgan Stanley's competitive moat stems from several interconnected advantages, though the strength varies across its business segments and faces evolving competitive pressures. The firm's strongest moat lies in its Wealth Management business, built on high switching costs and relationship-based service delivery. Wealthy clients typically maintain long-term relationships with their financial advisors due to the complexity of their financial situations, the trust required for intimate financial planning, and the disruption costs of transferring accounts. The firm's scale advantages enable it to offer comprehensive services including lending, banking, investment management, and specialized products that smaller competitors cannot match. The integration of workplace retirement services through stock plan administration creates additional client stickiness, as employees often continue relationships after leaving their employers. In Institutional Securities, the firm benefits from relationship-based barriers and expertise advantages. Corporate clients often maintain banking relationships across multiple institutions but rely on trusted advisors for complex transactions like M&A deals or large financing arrangements. Morgan Stanley's global presence, industry expertise, and execution capabilities create advantages in winning mandates, particularly for cross-border transactions. However, this moat is more fragile as clients regularly test the market and competition is intense among major investment banks. The Investment Management segment faces the most competitive pressure, as institutional clients increasingly scrutinize fees and performance. While the firm has built specialized capabilities in areas like Parametric's customized indexing and alternative investments, these advantages can be replicated over time. The trend toward passive investing and fee compression poses ongoing challenges to traditional active management businesses. The firm's integrated model provides some protection by enabling cross-selling opportunities and deeper client relationships, but this advantage is not insurmountable. Technology disruption poses the greatest long-term threat, particularly in wealth management where robo-advisors and digital platforms offer lower-cost alternatives for less complex client needs. Regulatory changes could also impact the firm's competitive position, particularly if new rules favor smaller competitors or restrict certain business activities. While Morgan Stanley maintains significant competitive advantages, particularly in serving high-net-worth clients and complex institutional needs, the firm must continue investing in technology and service capabilities to maintain its market position against both traditional competitors and emerging fintech challengers.
Risks & safety
Morgan Stanley maintains a strong financial position with adequate safety margins, though typical of major investment banks, it operates with significant leverage. **Overall Assessment**: The firm demonstrates solid financial stability with strong capital ratios, consistent profitability, and diversified revenue streams, though leverage levels require monitoring. **Capital and Liquidity Position**: - Common Equity Tier 1 (CET1) ratio of 15.1%, approximately 170 basis points above regulatory requirements - Total cash and short-term investments of $75.7 billion providing substantial liquidity buffer - Strong deposit base in wealth management providing stable funding source - No significant debt maturity concerns with well-laddered debt structure **Profitability and Returns**: - Return on Tangible Common Equity (ROTCE) of 18.8% for 2024, well above cost of capital - Consistent earnings generation with full-year 2024 net income of $13.5 billion - Diversified revenue streams reducing cyclical volatility compared to pure-play investment banks - Efficiency ratio of 71.1% showing disciplined expense management **Leverage and Risk Metrics**: - Debt-to-equity ratio of 3.45, typical for major investment banks but requiring careful monitoring - Current ratio of 0.66 reflects the nature of financial services balance sheet structure - Significant off-balance-sheet exposures through trading and derivative positions managed through robust risk management systems **Other Considerations**: - Regulatory capital requirements may increase under Basel III Endgame rules, though management expects to maintain adequate buffers - Market-sensitive revenues create earnings volatility during economic downturns - Strong dividend coverage with sustainable payout ratio supporting consistent shareholder returns
Recent development
Over the past several years, Morgan Stanley has executed a strategic transformation focused on building a more stable, fee-based business model while maintaining its leadership position in investment banking and capital markets. The firm's most significant strategic pivot has been the aggressive expansion of its wealth management platform through major acquisitions and organic growth initiatives. The successful integration of E*TRADE and Eaton Vance acquisitions has dramatically expanded the firm's client base and asset management capabilities. The E*TRADE integration brought digital brokerage capabilities and access to a broader client demographic, while Eaton Vance strengthened the investment management platform with specialized capabilities in areas like parametric investing and alternative strategies. Technology and AI investments have become a central focus, with the firm developing partnerships with companies like OpenAI to create AI-powered tools for financial advisors. These investments aim to improve advisor productivity, enhance client service capabilities, and provide more sophisticated portfolio management tools. The firm has been investing heavily in digital platforms and data analytics to better match clients with appropriate services and improve operational efficiency. The firm has been pursuing an integrated firm strategy that leverages relationships across all three business segments. This approach focuses on cross-selling opportunities, such as providing wealth management services to executives at corporate clients or offering workplace retirement services to companies served by the institutional securities division. Management has emphasized building deeper, more comprehensive client relationships rather than simply transactional interactions. Geographic expansion has been another key initiative, with the firm strengthening its presence in international markets, particularly in Europe, the Middle East, Africa, and Asia. This expansion supports both institutional securities activities and wealth management services for global clients, while also positioning the firm to capture growth opportunities in emerging markets. The firm has also been expanding its banking capabilities, including deposit gathering, lending services, and securities-based lending. This initiative aims to provide more comprehensive financial services to wealth management clients while generating additional net interest income. The development of workplace retirement services and stock plan administration has created additional touchpoints with corporate clients and their employees. Looking forward, management has set ambitious targets including reaching $10 trillion in total client assets across wealth management and investment management segments, achieving a 30% pre-tax margin in wealth management, and maintaining a firm-wide efficiency ratio of 70%. These goals reflect the firm's commitment to building a more predictable, fee-based revenue model while maintaining its market-leading positions in capital markets and advisory services.
MS company profile · for informational purposes only — not investment advice.
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