Morgan Stanley Stock Research

Market Summary

USD84.64+0.69

Market Closed

0.82%

MS Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

MS Stock Price

MS RSI Chart

MS Valuation

Market Cap

141.8B

Price/Earnings (Trailing)

12.85

Price/Sales (Trailing)

3.2

EV/EBITDA

0.5

Price/Free Cashflow

-22.16

MS Price/Sales (Trailing)

MS Profitability

EBT Margin

31.77%

Return on Equity

11.01%

Return on Assets

0.93%

Free Cashflow Yield

-4.51%

MS Fundamentals

MS Revenue

Revenue (TTM)

44.3B

Revenue Y/Y

-16.12%

Revenue Q/Q

-0.44%

MS Earnings

Earnings (TTM)

11.0B

Earnings Y/Y

-39.5%

Earnings Q/Q

-15.05%

Price Action

52 Week Range

70.69100.99

(Low)(High)

Last 7 days

-3.5%

Last 30 days

-13.7%

Last 90 days

-2.5%

Trailing 12 Months

-6.3%

MS Financial Health

Debt/Equity

2.18

Debt/Cashflow

0.08

MS Investor Care

Dividend Yield

3.41%

Dividend/Share (TTM)

2.8

Buy Backs (1Y)

5.47%

Diluted EPS (TTM)

6.15

Peers (Alternatives to Morgan Stanley)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AAPL	2.5T	387.5B	7.62%	-7.52%	26.35	6.47	2.44%	-5.35%
MSFT	2.1T	204.1B	11.55%	-7.07%	30.51	10.08	10.38%	-5.25%
GOOG	1.3T	282.8B	15.53%	-24.95%	22.08	4.68	9.78%	-21.12%
AMZN	1.0T	514.0B	2.44%	-40.04%	-368.89	1.95	9.40%	-108.16%
MID-CAP
NYMT	3.4B	258.4M	222.11%	179.36%	-11.46	13.24	24.91%	-254.56%
JBLU	2.2B	9.2B	-18.29%	-53.60%	-6.16	0.24	51.67%	-98.90%
SMALL-CAP
PLAY	1.7B	1.7B	-14.35%	-19.63%	14.09	1	61.79%	371.82%
TLRY	1.6B	602.5M	-7.75%	-62.41%	-2.78	2.67	18.18%	-18.59%
BYND	1.0B	418.9M	-4.85%	-67.83%	-2.77	2.42	-9.85%	-101.06%
MFA	986.5M	482.4M	-14.27%	-38.99%	-4.26	2.04	33.15%	-170.42%
CGC	913.9M	478.9M	-20.50%	-75.95%	-0.29	1.91	-31.50%	-634.70%
NKLA	774.5M	50.8M	-35.62%	-84.47%	-0.99	15.24	1229.98%	-13.59%
GPRO	754.2M	1.1B	-8.47%	-42.21%	26.14	0.69	-5.82%	-92.23%
INO	227.8M	10.3M	-31.25%	-74.40%	-0.81	22.2	478.23%	7.85%

Financials for Morgan Stanley

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-4.3%	44,341	46,346	48,560	50,604	51,710
EBITDA	-6.4%	27,414	29,304	30,450	31,416	-
EBITDA Margin	-2.2%	0.62*	0.63*	1.81*	0.62*	-
Earnings Before Taxes	-12.9%	14,089	16,179	17,665	18,912	19,668
EBT Margin	-9.0%	0.32*	0.35*	1.05*	0.37*	-
Interest Expenses	2.5%	9,327	9,097	8,650	8,233	8,045
Net Income	-11.7%	11,029	12,489	13,564	14,580	15,034
Net Income Margin	-7.7%	0.25*	0.27*	0.81*	0.29*	-
Free Cahsflow	-180.5%	-6,397	7,948	17,629	7,331	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	1.7%	1,180,231	1,160,029	1,173,776	1,222,233	1,188,140
Cash Equivalents	14.7%	128,127	111,696	131,286	136,086	127,725
Goodwill	-0.4%	16,652	16,721	16,757	16,825	16,833
Liabilities	2.0%	1,079,000	1,057,940	1,071,114	1,118,158	1,081,542
LT Debt, Current	-	-	-	-	-	-
Shareholder's Equity	-0.9%	100,141	101,011	101,596	102,901	105,441
Retained Earnings	0.9%	94,862	94,055	92,889	91,722	89,432
Additional Paid-In Capital	1.5%	29,339	28,893	28,394	28,007	28,841
Shares Outstanding	-1.1%	1,675	1,694	1,723	1,756	1,772

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-180.5%	-6,397	7,948	17,629	7,331	33,971
Share Based Compensation	2.7%	1,875	1,826	1,798	1,998	2,085
Cashflow From Investing	58.2%	-11,632	-27,836	-38,822	-27,178	-49,897
Cashflow From Financing	38.0%	22,714	16,454	32,804	41,274	41,547
Dividend Payments	1.2%	5,401	5,337	5,288	4,730	4,171

Risks for MS

What is the probability of a big loss on MS?

57.7%

Probability that Morgan Stanley stock will be more than 20% underwater in next one year

27.3%

Probability that Morgan Stanley stock will be more than 30% underwater in next one year.

18.5%

Probability that Morgan Stanley stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does MS drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Morgan Stanley was unfortunately bought at previous high price.

Drawdowns

Returns for MS

Cumulative Returns on MS

16.7%

10-Year Cumulative Returns

22.0%

7-Year Cumulative Returns

13.0%

5-Year Cumulative Returns

40.0%

3-Year Cumulative Returns

What are the long-term rolling returns for MS?

FIve years rolling returns for Morgan Stanley.

Annualized Returns

Which funds bought or sold MS recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	reduced	-3.15	1,177,810	29,122,000	0.23%
2023-03-17	American Portfolios Advisors	added	11.36	75,365	556,116	0.02%
2023-03-15	B. Riley Wealth Advisors, Inc.	added	5.48	418,093	3,525,090	0.10%
2023-03-13	Claro Advisors LLC	added	6.33	78,692	496,692	0.16%
2023-03-10	MATHER GROUP, LLC.	added	7.41	132,354	977,354	0.02%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-3.4	3,648,330	95,962,300	0.10%
2023-03-08	Capital Asset Advisory Services LLC	added	87.35	312,286	619,286	0.05%
2023-03-06	Rockefeller Capital Management L.P.	added	9.23	2,130,000	14,273,000	0.07%
2023-03-03	TIAA, FSB	added	12.48	3,849,330	22,145,300	0.09%
2023-03-03	ROBOTTI ROBERT	reduced	-21.7	-114,581	613,419	0.12%

Latest Funds Activity

Are funds buying MS calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own MS

No. of Funds

Morgan Stanley News

Schedule 13G FIlings of Morgan Stanley

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	state street corp	7.16%	120,966,594	SC 13G/A
Feb 09, 2023	vanguard group inc	6.67%	112,674,113	SC 13G/A
Feb 07, 2023	blackrock inc.	5.3%	89,304,670	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	1.4%	25,206,452	SC 13G/A
Feb 11, 2022	state street corp	7.28%	130,705,102	SC 13G/A
Feb 09, 2022	vanguard group inc	6.57%	117,937,806	SC 13G/A
Feb 01, 2022	blackrock inc.	6.0%	106,860,261	SC 13G/A
Apr 13, 2021	mitsubishi ufj financial group inc	20.87%	378,479,529	SC 13D/A
Feb 16, 2021	price t rowe associates inc /md/	5.4%	98,407,816	SC 13G
Feb 11, 2021	state street corp	6.67%	120,588,921	SC 13G

MS Fair Value

Morgan Stanley fair value in different scenarios

The table shows the Fair Value estimates for Morgan Stanley for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	59.46 -29.75%	111.73 32.01%	191.51 126.26%	324.91 283.87%	434.46 413.30%
Current Inflation	53.02 -37.36%	98.68 16.59%	166.32 96.50%	279.21 229.88%	370.17 337.35%
Very High Inflation	45.05 -46.77%	82.88 -2.08%	136.63 61.42%	226.18 167.23%	296.47 250.27%

Historical Morgan Stanley Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Morgan Stanley

View All Filings

Date Filed	Form Type	Document
Mar 24, 2023	424B2	Prospectus Filed
Mar 24, 2023	FWP	Prospectus Filed
Mar 24, 2023	424B2	Prospectus Filed
Mar 24, 2023	424B2	Prospectus Filed
Mar 24, 2023	424B2	Prospectus Filed
Mar 24, 2023	FWP	Prospectus Filed
Mar 24, 2023	FWP	Prospectus Filed
Mar 24, 2023	FWP	Prospectus Filed
Mar 24, 2023	424B2	Prospectus Filed
Mar 24, 2023	424B2	Prospectus Filed

Latest Insider Trading transactions for MS

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-24	SIMKOWITZ DANIEL A	sold (taxes)	-4,557,150	97.94	-46,530	head of investment management
2023-02-24	SAPERSTEIN ANDREW M	sold (taxes)	-4,009,660	97.94	-40,940	co-president/head of wm
2023-02-24	GORMAN JAMES P	sold (taxes)	-18,156,900	97.94	-185,388	chairman and ceo
2023-02-24	GROSSMAN ERIC F	sold (taxes)	-2,563,680	97.94	-26,176	chief legal/admin officer
2023-02-24	Hotsuki Keishi	acquired	-	-	41,016	chief risk officer
2023-02-24	PICK EDWARD N	acquired	-	-	138,040	co-president/head of is
2023-02-24	GORMAN JAMES P	acquired	-	-	335,240	chairman and ceo
2023-02-24	Hotsuki Keishi	sold (taxes)	-2,050,860	97.94	-20,940	chief risk officer
2023-02-24	GROSSMAN ERIC F	acquired	-	-	51,272	chief legal/admin officer
2023-02-24	PICK EDWARD N	sold (taxes)	-7,476,540	97.94	-76,338	co-president/head of is

About Morgan Stanley

James P. Gorman

www.morganstanley.com

65535

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.

MS Income Statement

2022-12-31

Consolidated Income Statements - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues
Investment banking	$ 5,599	$ 10,994	$ 7,674
Trading	13,928	12,810	13,983
Investments	15	1,376	986
Commissions and fees	4,938	5,521	4,851
Asset management	19,578	19,967	14,272
Other	283	1,042	678
Total non-interest revenues	44,341	51,710	42,444
Interest income	21,595	9,411	10,162
Interest expense	12,268	1,366	3,849
Net interest	9,327	8,045	6,313
Net revenues	53,668	59,755	48,757
Provision for credit losses	280	4	761
Non-interest expenses
Compensation and benefits	23,053	24,628	20,854
Brokerage, clearing and exchange fees	3,458	3,341	2,929
Information processing and communications	3,493	3,119	2,465
Professional services	3,070	2,933	2,205
Occupancy and equipment	1,729	1,725	1,559
Marketing and business development	905	643	434
Other	3,591	3,694	3,132
Total non-interest expenses	39,299	40,083	33,578
Income before provision for income taxes	14,089	19,668	14,418
Provision for income taxes	2,910	4,548	3,239
Net income	11,179	15,120	11,179
Net income applicable to noncontrolling interests	150	86	183
Net income applicable to Morgan Stanley	11,029	15,034	10,996
Preferred stock dividends	489	468	496
Earnings applicable to Morgan Stanley common shareholders	$ 10,540	$ 14,566	$ 10,500
Earnings per common share
Earnings per common share - basic (in dollars per share)	$ 6.23	$ 8.16	$ 6.55
Earnings per common share - diluted (in dollars per share)	$ 6.15	$ 8.03	$ 6.46
Average common shares outstanding
Basic (in shares)	1,691	1,785	1,603
Diluted (in shares)	1,713	1,814	1,624

MS Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 128,127	$ 127,725
Trading assets at fair value ($124,411 and $104,186 were pledged to various parties)	301,315	294,869
Investment securities (includes $84,297 and $102,830 at fair value)	159,931	182,998
Securities purchased under agreements to resell (includes $8 and $7 at fair value)	113,907	119,999
Securities borrowed	133,374	129,713
Customer and other receivables	78,540	96,018
Held for investment (net of allowance for credit losses of $839 and $654)	198,997	174,302
Held for sale	14,788	13,832
Goodwill	16,652	16,833
Intangible assets (net of accumulated amortization of $4,253 and $3,819)	7,618	8,360
Other assets	26,982	23,491
Total assets	1,180,231	1,188,140
Liabilities
Deposits (includes $4,796 and $1,940 at fair value)	356,646	347,574
Trading liabilities at fair value	154,438	158,328
Securities sold under agreements to repurchase (includes $864 and $791 at fair value)	62,534	62,188
Securities loaned	15,679	12,299
Other secured financings (includes $4,550 and $5,133 at fair value)	8,158	10,041
Customer and other payables	216,134	228,685
Other liabilities and accrued expenses	27,353	29,300
Borrowings (includes $78,720 and $76,340 at fair value)	238,058	233,127
Total liabilities	1,079,000	1,081,542
Commitments and contingent liabilities (see Note 15)
Equity
Preferred stock	8,750	7,750
Common stock	20	20
Additional paid-in capital	29,339	28,841
Retained earnings	94,862	89,432
Employee stock trusts	4,881	3,955
Accumulated other comprehensive income (loss)	(6,253)	(3,102)
Common stock held in treasury at cost, $0.01 par value (363,406,570 and 266,667,449 shares)	(26,577)	(17,500)
Common stock issued to employee stock trusts	(4,881)	(3,955)
Total Morgan Stanley shareholders’ equity	100,141	105,441
Noncontrolling interests	1,090	1,157
Total equity	101,231	106,598
Total liabilities and equity	$ 1,180,231	$ 1,188,140