GuruFocus·Jun 26, 2026
Goldman and Morgan Stanley Fall on OpenAI DelayMorgan Stanley (MS) and Goldman Sachs (GS) fell Friday after a report said OpenAI may delay its closely watched IPO until 2027.Goldman dropped as much as 4.8%,
Morgan Stanley(MS)Earnings, Financials & Key Ratios
MS•NYSE•Banking & Credit
$222.04
21.8× P/E·Price updated Jul 7, 2026
AboutMorgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Europe, the Middle East, Africa, and Asia. It operates through Institutional Securities, Wealth Management, and Investment Management segments. The Institutional Securities segment offers capital raising and financial advisory services, including services related to the underwriting of debt, equity, and other securities, as well as advice on mergers and acquisitions, restructurings, real estate, and project finance. This segment also provides sales and trading services, such as sales, financing, prime brokerage, and market-making services in equity and fixed income products consisting of foreign exchange and commodities; corporate and commercial real estate loans, which provides secured lending facilities and financing for sales and trading customers, and asset-backed and mortgage lending; and wealth management services, investment, and research services. The Wealth Management segment offers financial advisor-led brokerage and investment advisory services; self-directed brokerage services; financial and wealth planning services; workplace services, including stock plan administration; annuity and insurance products; securities-based lending, residential real estate loans, and other lending products; banking; and retirement plan services to individual investors and small to medium-sized businesses and institutions. The Investment Management segment provides equity, fixed income, liquidity, and alternative/other products to benefit/defined contribution plans, foundations, endowments, government entities, sovereign wealth funds, insurance companies, and third-party fund sponsors and corporations through institutional and intermediary channels. Morgan Stanley was founded in 1924 and is headquartered in New York, New York.Show more
- Net Interest Income$10.05B+16.7%
- Total Revenue$114.98B+11.5%
- Net Income$16.86B+25.9%
- Return on Equity15.46%+18.6%
- Net Interest Margin0.71%-0.2%
- Efficiency Ratio37.97%-1.5%
- ROA1.28%+15.1%
- Equity / Assets7.93%-8.6%
- Book Value per Share70.72+8.1%
MS Price & Volume
Morgan Stanley (MS) stock price & volume — 10-year historical chart
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Wealth Management Pivot Drives Structural Margin Gains
Investment Thesis • Updated 2026Q1
VerdictPositive: The firm's strategic shift toward recurring revenue streams is yielding tangible results
Growth:Accelerating
Profitability:Strong
Financial:Healthy
Cash Flow:Mixed
Primary Risk:Market-Driven Asset Volatility
Key Thesis Takeaways
- Morgan Stanley is successfully transitioning toward a more stable, fee-based wealth management model, as evidenced by the expansion of operating margins from 8.7% in 2023Q4 to 21.1% in 2026Q1.
- While the firm demonstrates robust earnings growth with a 30.8% EPS increase in the most recent quarter, investors should monitor the inherent volatility in cash flows caused by large working capital swings.
- The firm's commitment to shareholder returns remains firm, supported by a steady quarterly dividend payout of approximately $1.7 billion despite periodic fluctuations in free cash flow.
Verdict Logic
with EPS reaching $3.40 in 2026Q1 and a consistent dividend yield of 2.0% providing a floor for long-term investors.
MS Growth Metrics
Morgan Stanley (MS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years12.31%
5 Years18.28%
3 Years22.55%
TTM-
Profit CAGR
10 Years10.65%
5 Years8.93%
3 Years15.2%
TTM27.22%
EPS CAGR
10 Years13.36%
5 Years9.57%
3 Years18.37%
TTM29.11%
Return on Capital
10 Years3.47%
5 Years3.6%
3 Years3.27%
Last Year3.29%
MS Recent Earnings
Morgan Stanley (MS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 11/12 qtrs (92%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
Apr 15, 2026Metric
Actual
Est
EPS
$3.43+13.6%
$3.02
Rev
$20.6B+4.3%
$19.7B
Q1 2026
Jan 15, 2026Metric
Actual
Est
EPS
$2.68+10.3%
$2.43
Rev
$17.9B+0.8%
$17.7B
Q4 2025
Oct 15, 2025Metric
Actual
Est
EPS
$2.80+33.3%
$2.10
Rev
$17.1B+2.4%
$16.7B
Q3 2025
Jul 16, 2025Metric
Actual
Est
EPS
$2.13+7.6%
$1.98
Rev
$15.6B-2.9%
$16.1B
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 15, 2026 | $3.43vs $3.02+13.6% | $20.6Bvs $19.7B+4.3% |
| Q1 2026 | Jan 15, 2026 | $2.68vs $2.43+10.3% | $17.9Bvs $17.7B+0.8% |
| Q4 2025 | Oct 15, 2025 | $2.80vs $2.10+33.3% | $17.1Bvs $16.7B+2.4% |
| Q3 2025 | Jul 16, 2025 | $2.13vs $1.98+7.6% | $15.6Bvs $16.1B-2.9% |
Based on last 12 quarters of dataView full earnings history →
Latest MS News
Recent stock market news and headlines for Morgan Stanley (MS)
Business Wire·Jun 26, 2026
Morgan Stanley Wealth Management Expands Access to Private Markets and Alternatives with PMAX - Balanced and PMAX - Growth FundsNEW YORK--(BUSINESS WIRE)--Morgan Stanley Wealth Management announced that it has expanded access to the Morgan Stanley Private Markets and Alternatives Fund ("PMAX") by registering it as PMAX - Balanced. This change removes the accredited investor requirement, lowers minimum investment amounts, and introduces daily subscriptions, making private market strategies accessible to a broader range of clients through a simplified, professionally managed investment vehicle. Morgan Stanley Wealth Manag.
Fool - Investing News·Jun 25, 2026
JPMorgan Chase Pairs a 10% Dividend Hike With a New $50 Billion Buyback After Clearing the Fed's Stress TestFrom a victor come the spoils.
247 Wallst·Jun 25, 2026
A Private Credit Veteran Warns ‘A Canary in the Coal Mine Is Coming’ as a $1.8 Trillion Market CracksPrivate credit was supposed to be the safe, sleepy corner of finance where pension money quietly clipped coupons. That story is fraying. Morgan Stanley (NYSE: MS) just capped investor withdrawals at 5% from its $7 billion private credit fund, and Apollo Global Management (NYSE: APO) is again limiting redemptions from its largest non-traded retail private credit fund.... A Private Credit Veteran Warns 'A Canary in the Coal Mine Is Coming' as a $1.8 Trillion Market Cracks
Zacks Investment Research·Jun 25, 2026
Fed Stress Test: JPM & Other Big Banks Pass Again, Show ResilienceJPM and other big banks clear the Fed's 2026 stress test, paving the way for dividend hikes and fresh share buybacks after proving capital resilience.
Peers Comparison
Key metrics vs top competitors for Morgan Stanley (MS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $222.04 | $350.22B | 21.77 | 11.48% | 14.66% | 15.46% | 1.86% | |
| $1042.98 | $321.24B | 20.32 | -1.38% | 16.31% | 14.31% | — | |
| $339.22 | $908.94B | 16.92 | 3.31% | 20.66% | 16.32% | — | |
| $59.86 | $424.8B | 15.67 | -0.45% | 18.13% | 10.5% | — | |
| $140.75 | $241.37B | 20.14 | -1.41% | 9.34% | 7.49% | — | |
| $87.21 | $266.88B | 13.80 | -1.49% | 17.29% | 11.92% | — |
Compare MS vs Peers
Morgan Stanley (MS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MS SEC Filings & Documents
Morgan Stanley (MS) SEC filings — annual & quarterly reports (10-K, 10-Q)
8-K Announcements
1Material company update
Apr 15, 2026·SEC
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MS Frequently Asked Questions
Morgan Stanley (MS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
How fast is Morgan Stanley growing?
Morgan Stanley (MS) grew revenue by 11.5% over the past year. This is steady growth.
Is MS profitable?
Yes, Morgan Stanley (MS) is profitable, generating $18.18B in net income for fiscal year 2025 (14.7% net margin).
Dividend & Returns
Does MS pay dividends?
Yes, Morgan Stanley (MS) pays a dividend with a yield of 1.86%. This makes it attractive for income-focused investors.
What is MS's return on equity?
Morgan Stanley (MS) has a return on equity (ROE) of 15.5%. This is reasonable for most industries.
Industry Metrics
What is Morgan Stanley's net interest margin?
Morgan Stanley (MS) has a net interest margin (NIM) of 0.7%. NIM has been under pressure due to interest rate environment.
What is Morgan Stanley's efficiency ratio?
Morgan Stanley (MS) has an efficiency ratio of 38.0%. This is excellent, indicating strong cost control.