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Morgan Stanley
NYSE: MS Financials Cap Markets 🔎 Screen
S&P 500
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 69 Forming View all →
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$337.2B
Market Cap
17.4
P/E
1.43
PEG
2.1%
ROCE
15.6%
ROE
7.68
D/E
31.1%
OPM
-5.8%
% from 52W High
75
α RS
🔍 MS is showing a high-conviction setup because it matches 8 of 37 tracked screener presets, RS Rating is 75, and an ECS of 51.3 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating ECS
Sources
Conviction 8/37 · RS Rating 75 · ECS 51.3
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🌏 Global Investor Returns
Currency-adjusted total returns for MS including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Morgan Stanley, a financial holding company, provides various financial products and services to corporations, governments, financial institutions, and individuals in the Americas, Asia, Europe, the Middle East, and Africa.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding MS
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 1.45M $238.0M 0.30% Mar 2026
Jim Simons Renaissance Technologies LLC 674.1K $110.9M 0.17% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Net Revenue
$21.3B
+27% YoY
Pre-Tax Income
$7.3B
+59% YoY
Pre-Tax Margin
34.4%
+6.9pp YoY
Net Income
$5.6B
+58% YoY
EPS
$3.46
+62% YoY
What Went Right
  • Record firm revenues of $21.3B and EPS of $3.46, with ROTCE of 26.6%.
  • Wealth Management added record $148B in organic net new assets, taking Wealth/IM client assets to $10T.
  • Equities revenue hit record $6.3B, up 69% YoY, and Institutional Securities pre-tax profit was a record $4.3B.
What to Watch
  • Other revenues in Institutional Securities were -$152M on mark-to-market losses on corporate loans held for sale, incl. hedges.
  • FX volatility traded near historic lows, keeping Fixed Income macro results roughly flat YoY.
  • Ted Pick flagged AI capex and geopolitics as 'known unknowns,' and cautioned that froth or bottlenecks could emerge in the AI investment cycle.
Management Guidance
  • Wealth Management Q3 NII: modest sequential increase from $2.3B.
  • FY2026 tax rate expected in 22%-23% range.
  • No explicit revenue or operating income guidance was provided; IPO pipeline and sponsor monetization are building.
Investor Lens
The investment thesis is stronger after this call: record revenue/EPS and ROTCE of 26.6% demonstrate the integrated firm's operating leverage, while Wealth NNA of $148B and $10T of client assets extend the growth runway. Excess CET1 of ~300-350bp gives optionality to invest or return capital. AI-driven capex and M&A pipelines add multi-year upside, though credit marks and low FX volatility are near-term drags.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Record Q2 as $21.3B revenue, $3.46 EPS on equities/wealth strength.
Revenue
Record net revenue of $21.3B was up 27% YoY from $16.8B. Institutional Securities drove $11.0B, Wealth Management $8.9B, and Investment Management $1.6B.
Profitability
Net income was $5.6B versus $3.5B a year ago, and EPS rose to $3.46 from $2.13. ROTCE improved to 26.6% from 18.2%.
Margins
Firm pre-tax income rose 59% to $7.3B, lifting pre-tax margin to 34.4% from 27.5%. First-half efficiency ratio improved to 65% from 71% as top-line growth outweighed higher execution-related and technology spend.
Balance Sheet
Spot assets reached $1.7T and standardized RWAs were $590B. CET1 ratio was 14.8%; the firm repurchased $1.5B of stock and raised the quarterly dividend 15% to $1.15.
Key Risks
Risks include $152M of mark-to-market losses on held-for-sale corporate loans, low FX volatility pressuring macro revenues, and management's caution around AI capex and geopolitical 'known unknowns' as possible sources of froth or disruption.
Outlook
Wealth Management NII is expected to increase modestly sequentially in Q3, and the annual tax rate should remain 22%-23%. No explicit firm-wide revenue guidance was provided, but pipelines and client dialogue are constructive across investment banking and trading.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-15
Record Q2 results with $21.3B revenue and $3.46 EPS, driven by strong performance in Institutional Securities, Wealth, and Investment Management. Client assets reached $10T, ROTCE was 26.6%, and a 15% dividend increase was announced.
Q1 2026 Q1 2026 2026-04-15
Record quarterly revenues and EPS were driven by strong performance across Wealth Management, Institutional Securities, and Investment Management, with robust client engagement and continued investment in technology and private markets. CET1 ratio remains strong at 15.1%.
Q4 2025 Q4 2025 2026-01-15
Record 2025 results featured $70.6B in revenue, $10.21 EPS, and 21.6% ROTCE, driven by strong performance across all segments and robust client asset growth. The firm maintains high capital levels, continues investing in technology and talent, and expects to sustain or exceed current goals amid macro uncertainties.
Q3 2025 Q3 2025 2025-10-15
Record revenues and EPS were driven by strong performance across all segments, robust client asset growth, and operating leverage. Investment banking and wealth management saw significant inflows and margin expansion, while capital strength and technology investments position the firm for continued growth.
Q2 2025 Q2 2025 2025-07-16
Second quarter results featured $16.8B in revenue, $2.13 EPS, and 18.2% return on tangible equity, with strong performance in wealth, investment management, and institutional securities. Robust asset growth, record margins, and a constructive outlook support continued momentum.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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