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Earnings transcript
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MS
Morgan Stanley
$165.77
-0.4
(-0.24%)
| Exchange: | NYSE |
| Market Cap: | 263.22B |
| Shares Outstanding: | 117.865M |
About The Company
| Sector: | Financial Services | |||||
| Industry: | Financial – Capital Markets | |||||
| CEO: | Edward N. Pick | |||||
| Full Time Employees: | 81000 | |||||
| Address: |
| |||||
| Website: | https://www.morganstanley.com |
Morgan 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.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 88,286,000 | 103,145,000 | 114,983,000 |
| Gross Profit | 50,135,000 | 57,357,000 | 65,617,000 |
| EBITDA | 16,069,000 | 22,757,000 | 26,612,000 |
| Operating Income | 11,813,000 | 17,596,000 | 21,954,000 |
| Net Income | 9,087,000 | 13,390,000 | 16,861,000 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 1,193,693,000 | 1,215,071,000 | 1,420,270,000 |
| Total Liabilities | 1,093,711,000 | 1,109,643,000 | 1,307,618,000 |
| Total Stockholders Equity | 99,038,000 | 104,511,000 | 111,632,000 |
| Total Debt | 339,038,000 | 360,488,000 | 0 |
| Cash and Cash Equivalents | 58,661,000 | 75,743,000 | 111,695,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -33,536,000 | 1,362,000 | -17,889,000 |
| Capital Expenditure | -3,412,000 | -3,462,000 | 0 |
| Free Cash Flow | -36,948,000 | -2,100,000 | -17,889,000 |
| Net Income | 9,087,000 | 13,529,000 | 16,861,000 |
| Net Change in Cash | -38,895,000 | 16,154,000 | 6,309,000 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 89,608,634.246 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 95,581,522.633 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 92,439,450.015 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 23,960,268.539 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 25,557,346.888 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 24,717,194.549 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 22,832,707.964 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 24,830,138.805 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 23,779,380.074 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 29,236,767.050 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 31,185,551.873 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 30,160,382.301 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 14.930 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 15.590 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 14.330 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 7 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 4 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeSWOT Analysis
Strengths (preview)
- Strong Financial Performance Metrics: Morgan Stanley demonstrates robust financial health with consistent revenue growth, as evidenced by historical data from income statements. Key indicators such as net income and operating cash flow from cash flow statements reflect operational efficiency and profitability, positioning MS favorably within the financial services sector.
- Solid Market Position and Valuation: The company’s price-to-earnings (P/E) ratio (TTM) and forward P/E estimates suggest a competitive valuation relative to industry averages, as per the industry and sector data. This indicates investor confidence and a stable market perception of MS’s earnings potential.
- High Return Metrics: Metrics such as return on equity (ROE) and return on invested capital (ROIC) from key metrics data highlight efficient use of capital and strong profitability, reinforcing MS’s ability to generate value for shareholders.
- Diversified Revenue Streams: Revenue product and geographic segments data indicate a well-diversified income base across various product categories and regions, reducing dependency on any single market and enhancing financial stability.
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Intrinsic Value Calculator
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Common questions about MS valuation
Is Morgan Stanley (MS) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Morgan Stanley (MS) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is MS a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether MS trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is MS’s P/E ratio?
You can see MS’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for MS?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is MS a good long-term investment?
Whether MS fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
MS
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Daily snapshot
-0.24
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Daily snapshotTrading Metrics:
| Open: | 162.48 | Previous Close: | 166.17 | |
| Day Low: | 160.57 | Day High: | 167 | |
| Year Low: | 94.33 | Year High: | 192.68 | |
| Price Avg 50: | 170.05 | Price Avg 200: | 161.04 | |
| Volume: | 3.926M | Average Volume: | 7.652M |
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Login — it's freeMS full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of Morgan Stanley, ticker symbol MS, one of the heavyweights in the financial services world. Whether you’re a seasoned investor or just curious about this global banking giant, stick around because we’re breaking down everything from financials to valuation, recent performance, and more. Let’s get started! So, if you’re new to Morgan Stanley, let me give you the quick rundown. This isn’t just any bank—it’s…
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