Rankings Financial data & insurance broking Morgan Stanley
Morgan Stanley
86
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Multiples vs own history−7
- Quality of growth−3
- Peers−2
Strengths
- Customer inflow and customer assets+2
- Dividend and buybacks+2
How the score is built
From 100 to 86, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 2 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 185.73 USD
- Median analyst target
- 206.50 USD
- Upside to median
- +11.2%
- Analysts
- 26
- Target range
- 185.00 – 262.00 USD
- 52-week change
- +13%
- P/E (trailing)
- 14.7
- Forward P/E
- 13.9
- PEG
- 1.15
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 1 finding−3 of −30
- −3Quality of growthEPS +40% (TTM) is carried mainly by Institutional Securities (Q2: USD 11.0bn versus 7.6bn a year earlier), i.e. a cyclical trading and M&A peak; and more than half of the record inflow of USD 148bn in Wealth Management came from IPO-related equity plans (Workplace), which are non-recurring.
Price
Today's multiples against the company's own history and its peers. · 3 findings−10 of −35
- −7Multiples vs own historyP/B 2.80 (P/TBV 3.57 on TBV of USD 53.18) versus 1.42-2.51 in 2021-2025 and about 1-1.5 before 2020; the share price has more than doubled since 2023, while P/E 15.4 is at the top of the 12.1-17.9 range. The re-rating has been priced in ahead of time.
- −2PeersP/TBV 3.57 and P/E 15.4 versus Goldman Sachs (2.70 / 13.9) and JPMorgan (2.97 / 14.3) with almost the same ROE (18.0% versus 16.9% and 17.8%). The wealth mix explains part of the premium, not all of it.
- −1Earnings at the top of the cycleThe multiple is calculated on record earnings (operating margin 40% against 30-33% in 2022-2023); with normalised trading and advisory activity, the real P/E is higher.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−5 of −35
- −2Regulation and money launderingThe Wealth unit's customer controls (KYC/AML) are under investigation by FINRA (2021-2024) following earlier scrutiny from the SEC, OCC and the Treasury; no ruling yet.
- −1Credit qualityQ2: Institutional Securities 'Other' -USD 152m from mark-to-market losses on corporate loans and individual impairment assessments of certain corporate and commercial real estate loans; low level, but a growing loan book.
- −1LeverageDebt/equity has risen from 3.35 (2021) to 5.17; the balance sheet is growing on borrowed funding at a time of rising interest rates.
- −1
Plus
Only documented strengths. · 2 findings+4 of +15
- +2Customer inflow and customer assetsRecord net inflows of USD 148bn in Q2 (fee-based 39bn), total client assets of USD 10tn across Wealth and Investment Management; Wealth revenue a record USD 8.9bn and pre-tax margin 30.5%.
- +2Dividend and buybacksQuarterly dividend +15% to USD 1.15, buyback of USD 1.5bn in Q2 and a new USD 20bn programme; total payout (about USD 13bn annually) is below net income of USD 19.5bn; CET1 14.8%.
Caveats
What the score does not capture, or where the data is weak.
Q3 report 14 Oct. 2026 (before the open); the score is from before the report. Bank/investment bank: FCF and ROIC are not meaningful, valuation on P/TBV and P/E. stockanalysis has only 5 years of multiple history; the 10-year comparison is based on 2021-2025 plus the known lower level (P/B about 1-1.5) before 2020
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