Stocks · Financial Services · Financial - Capital Markets
Morgan Stanley MS
$190.31 +1.22% Close, Oct 2, 2026 · NYSE · Market cap $300.17B
Strong growthHigh risk
Next earnings report: Oct 14, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Earnings beat analyst estimates in each of the last 10 quarters (average surprise over the last four: +19.2%).
- Net debt is 12.4× EBITDA, a high level of leverage.
- Diluted EPS over the last four quarters was $12.28, up 39.1% year over year.
PromtFinance scores
Each score is a percentile within the Financial Services sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
Growth95Exceptional
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 26%
- EPS growth (TTM, YoY)Top 26%
- Revenue growth, 3-year CAGRTop 24%
- Revenue growth accelerationTop 23%
Quality18Very weak
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalTop 43%
- Gross marginBottom 37%
- Operating marginBottom 47%
- Cash conversion (OCF / net income)Bottom 8%
- Accruals (lower is better)Bottom 19%
- Net debt / EBITDA (lower is better)Bottom 9%
- Interest coverBottom 27%
Value31Weak
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 49%
- Free-cash-flow yieldBottom 11%
- EBITDA / enterprise valueBottom 38%
- Sales / enterprise valueBottom 23%
- P/E vs own 5-year history (lower is better)Top 44%
Momentum52Neutral
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 18%
- 6-month returnTop 29%
- 1-year return vs S&P 500Top 30%
- Distance from 52-week highBottom 28%
- Trend checklist (0–4)Bottom 27%
Revisions95Exceptional
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 15%
- Consecutive EPS beatsTop 9%
- Share of analysts rating BuyTop 39%
- Upside to consensus price targetTop 28%
Stability13Very weak
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 32%
- Maximum drawdown, 3 yearsBottom 48%
- Beta vs S&P 500 (lower is better)Bottom 7%
- Net debt / EBITDA (lower is better)Bottom 9%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 13.7% | 16.7% | ↑ |
| EPS growth (YoY) | 29.1% | 39.1% | ↑ |
| Gross margin | 56.3% | 59.7% | ↑ |
| Operating margin | 17.8% | 20.7% | ↑ |
| FCF margin | -19.3% | -12.4% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 16.7% | 13.7% | ↑ | Top 26% |
| EPS growth (TTM, YoY) | 39.1% | 29.1% | ↑ | Top 26% |
| Gross margin | 59.7% | 56.3% | ↑ | Bottom 37% |
| Operating margin | 20.7% | 17.8% | ↑ | Bottom 47% |
| Net margin | 16.0% | 13.6% | ↑ | — |
| Free-cash-flow margin | -12.4% | -19.3% | ↑ | — |
| Return on invested capital | 2.1% | — | Top 43% | |
| Revenue growth, 3-year CAGR | 22.5% | — | Top 24% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- -0.77×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- 2.1%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 1.6%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +36.9 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- 12.42×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 0.5×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 2.26%
- Net buyback yield (TTM)
- -0.50%
- Shareholder yield
- 1.76%
- Share count change, 1 year
- +0.0%
- Share count change, 3-year CAGR
- -1.2%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 4, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 10
- Beats in the last 8 reports
- 8 of 8
- Average EPS surprise, last 4
- +19.2%
- Average 2-day reaction, last 8
- +3.3%
- Positive 20 days after report
- 6 of 8
Analysts
- Consensus price target
- $235.25
- Target vs current price
- +23.6%
- Analysts with a rating
- 52
- Share rating Buy or Strong Buy
- 56%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 15, 2026 | +19.7% | +0.4% | -5.0% | -5.5% | — |
| Apr 15, 2026 | +13.6% | +4.5% | +3.3% | +4.7% | +21.2% |
| Jan 15, 2026 | +10.3% | +5.8% | +1.3% | -7.0% | +0.2% |
| Oct 15, 2025 | +33.3% | +4.7% | +2.5% | +7.2% | +19.9% |
| Jul 16, 2025 | +7.6% | -1.3% | -1.1% | +4.0% | +9.9% |
| Apr 11, 2025 | +17.6% | +1.4% | +2.4% | +14.2% | +32.8% |
| Jan 16, 2025 | +37.0% | +4.0% | +5.6% | +4.8% | -17.2% |
| Oct 16, 2024 | +19.0% | +6.5% | +5.4% | +17.9% | +10.5% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 15, 2026 | $3.46 | $2.89 | +19.7% | $21.35B |
| Apr 15, 2026 | $3.43 | $3.02 | +13.6% | $20.58B |
| Jan 15, 2026 | $2.68 | $2.43 | +10.3% | $17.89B |
| Oct 15, 2025 | $2.80 | $2.10 | +33.3% | $17.08B |
| Jul 16, 2025 | $2.13 | $1.98 | +7.6% | $15.60B |
| Apr 11, 2025 | $2.60 | $2.21 | +17.6% | $16.52B |
| Jan 16, 2025 | $2.22 | $1.62 | +37.0% | $15.04B |
| Oct 16, 2024 | $1.88 | $1.58 | +19.0% | $14.34B |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 15.5× | 15.7× | 48th | Bottom 49% |
| P/E (forward) | 14.8× | — | — | — |
| EV / EBITDA | 22.6× | — | — | Bottom 38% |
| EV / Sales | 5.25× | — | — | Bottom 23% |
| Free-cash-flow yield | -5.23% | — | — | Bottom 11% |
| Earnings yield | 6.45% | — | — | Bottom 49% |
P/E over the past five years
Range 11.1× – 17.7× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
What moved the stock over the past year
- Price return, 1 year
- +21.3%
- Earnings per share growth (TTM)
- +39.1%
- Change in P/E multiple
- +10.4%
Most of the move came from earnings growth.
Technical state
Trend checklist
- ✗ Price above 20-day average
- ✗ Price above 50-day average
- ✗ Price above 200-day average
- ✓ 50-day average above 200-day
- ✗ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 0
- 50-day average slope (20 days)
- -2.9%
- 200-day average slope (20 days)
- +1.7%
- Distance from 50-day average
- -9.1%
- Distance from 200-day average
- -1.8%
- RSI (14)
- 29.9
- Relative volume
- 1.16×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 26.6%
- Volatility vs own 5-year history
- 46th percentile · Normal for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.49
- Correlation with S&P 500
- 0.77
- Current drawdown from 1-year high
- -16.7%
- Maximum drawdown, 3 years
- -29.2%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 9, 2022 | Oct 27, 2023 | -35.3% | 431 days | 238 days (Oct 9, 2024) |
| Feb 6, 2025 | Apr 4, 2025 | -29.2% | 40 days | 60 days (Jul 2, 2025) |
| Jan 15, 2026 | Mar 12, 2026 | -19.3% | 38 days | 23 days (Apr 15, 2026) |
| Jul 15, 2026 | Oct 1, 2026 | -17.7% | 55 days | Not yet recovered |
| Jan 14, 2021 | Jan 29, 2021 | -12.3% | 10 days | 15 days (Feb 22, 2021) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $300.17B
- P/E (TTM)
- 15.5
- EPS, diluted (TTM)
- $12.28
- Revenue (TTM)
- $126.53B
- Dividend yield
- 2.18%
- 52-week range
- $151.84 – $232.25
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $57.78B | $62.48B | $88.29B | $103.14B | $114.98B |
| Gross profit | $56.41B | $49.93B | $50.13B | $57.36B | $65.62B |
| Operating income | $19.67B | $14.09B | $11.81B | $17.60B | $21.95B |
| Net income | $15.03B | $11.03B | $9.09B | $13.39B | $16.86B |
| EPS (diluted) | $8.03 | $6.15 | $5.18 | $7.95 | $10.20 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $26.33B | $25.98B | $27.91B | $28.16B | $30.05B | $28.86B | $33.15B | $34.47B |
| Net income | $3.19B | $3.71B | $4.32B | $3.54B | $4.61B | $4.40B | $5.64B | $5.58B |
| EPS (diluted) | $1.88 | $2.22 | $2.60 | $2.13 | $2.80 | $2.67 | $3.40 | $3.41 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | $33.97B | -$6.40B | -$33.54B | $1.36B | $49.00B |
| Capital expenditure | -$2.31B | -$3.08B | -$3.41B | -$3.46B | -$2.90B |
| Free cash flow | $31.66B | -$9.47B | -$36.95B | -$2.10B | $46.10B |
| Dividends paid | -$4.17B | -$5.40B | -$5.76B | -$6.14B | -$6.59B |
| Net share buybacks | -$12.07B | -$10.87B | -$6.18B | -$4.20B | -$5.83B |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $866.07B
- Total assets
- $1.68T
- Total liabilities
- $1.56T
- Total debt
- $524.58B
- Net debt
- $364.44B
- Shareholders’ equity
- $110.42B
As of Jun 30, 2026 (filed Aug 4, 2026).
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| Jul 31, 2026 | $1.15 | Aug 14, 2026 |
| Apr 30, 2026 | $1.00 | May 15, 2026 |
| Jan 30, 2026 | $1.00 | Feb 13, 2026 |
| Oct 31, 2025 | $1.00 | Nov 14, 2025 |
| Jul 31, 2025 | $1.00 | Aug 15, 2025 |
| Apr 30, 2025 | $0.93 | May 15, 2025 |
| Jan 31, 2025 | $0.93 | Feb 14, 2025 |
| Oct 31, 2024 | $0.93 | Nov 15, 2024 |
Short interest
- Shares sold short
- 14,693,087
- Days to cover
- 3.23
- Change vs previous report
- -1.1%
FINRA short interest, settlement date Sep 15, 2026.
Stock splits
- Jan 27, 2000
- 2-for-1
- Jan 15, 1997
- 2-for-1