---
title: Morgan Stanley (MS) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/ms
ticker: MS
as_of: 2026-10-17
sector: Financial Services
industry: Financial - Capital Markets
---
# Morgan Stanley (MS)

Morgan Stanley (MS) closed at $180.54 on Oct 16, 2026, overvalued by 28% vs its model value of $141.24 (from its peers' median P/E).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $180.54 (Oct 16, 2026) |
| Model value (from its peers' median P/E) | $141.24 |
| Price vs model | overvalued by 28% vs model |
| Range of that model | $125.97 – $168.10 |
| Market value | $284.8B |
| P/E (fiscal 2025) | 17.7 |
| Net margin (fiscal 2025) | 14.7% |
| Free cash flow (fiscal 2025) | -$20.8B |
| Dividend yield (trailing twelve months) | 2.30% |
| Beta | 1.21 |
| Cost of capital (WACC) | 10.53% |
| Business classification | Mature & Stable (Revenue declining (~0% recent), Moderate margins (10% net margin), High leverage (D/E 2.2x)) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Largest companies | #41 | $284.8B | https://sweetvaluelab.com/lists/largest-companies |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 2.30% |
| Dividends per share, last 12 months | $4.15 |
| Dividends / earnings (fiscal 2025) | 39.1% |
| Raised | 12 years in a row |
| Growth over 5 years | 18.9% a year |
| Latest payment | $1.15, ex-date Jul 31, 2026, paid Aug 14, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Jul 29, 2021 | $1.75 |
| To Jul 28, 2022 | $2.88 |
| To Jul 28, 2023 | $3.18 |
| To Jul 31, 2024 | $3.48 |
| To Jul 31, 2025 | $3.78 |
| Trailing twelve months (to Jul 31, 2026) | $4.15 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| P/E · peers | primary | $141.24 | $125.97 | $168.10 |
| P/E · own history | cross check | $185.57 | $154.12 | $216.18 |
| PEG | sanity check | $190.84 | $190.84 | $190.84 |
| Dividend discount | cross check | $95.31 | $67.22 | $136.91 |

## Insider activity (SEC Form 4)

Past 90 days: 0 open-market buys ($0) and 1 open-market sale ($212,055); 10b5-1 plan sales included.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Sep 22, 2026 | MITSUBISHI UFJ FINANCIAL GROUP INC | 10% Owner | Disposition to issuer (10b5-1 plan) | 1,340,519 | $285.0M |
| Jul 30, 2026 | MITSUBISHI UFJ FINANCIAL GROUP INC | 10% Owner | Disposition to issuer (10b5-1 plan) | 414,396 | $88.4M |
| Jul 28, 2026 | SCHAPIRO MARY L | Director | Open-market sell | 1,000 | $212,055 |
| Jul 28, 2026 | SCHAPIRO MARY L | Director | Bona fide gift | 2,325 | $0 |
| Jul 16, 2026 | YESHAYA SHARON | Chief Financial Officer | Open-market sell | 6,382 | $1.4M |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Oct 14, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/895421/000089542126000288/ms-20261014.htm |
| Aug 4, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/895421/000089542126000212/ms-20260630.htm |
| Jul 15, 2026 | 8-K | 2.02 Results of Operations (Earnings); 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/895421/000089542126000207/ms-20260715.htm |
| Jun 24, 2026 | 8-K | 8.01 Other Events; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/895421/000095010326009448/dp248866_8k.htm |
| May 15, 2026 | 8-K | 5.07 Submission of Matters to a Shareholder Vote | https://www.sec.gov/Archives/edgar/data/895421/000095010326007291/dp246746_8k.htm |

## Superinvestors holding it (latest 13F)

| Manager | Quarter | Shares | Value |
| --- | --- | ---: | ---: |
| Viking Global | 2026-06-30 | 1,622,593 | $339.2M |
| Richard Pzena | 2026-06-30 | 454,492 | $95.0M |
| David Katz | 2026-09-30 | 205,191 | $38.6M |
| Soros | 2026-06-30 | 19,096 | $4.0M |

7 tracked managers in all.

## About

Morgan Stanley operates as a prominent financial holding company, delivering a comprehensive suite of financial solutions and services. Its diverse clientele spans major corporations, governmental bodies, financial institutions, and individual clients across various global regions, including the Americas, Europe, the Middle East, Africa, and Asia. The firm's operations are structured into three primary divisions: Institutional Securities, Wealth Management, and Investment Management. Within the Institutional Securities segment, Morgan Stanley provides crucial capital-raising and strategic financial advisory services. This includes underwriting activities for debt, equity, and other financial instruments, alongside expert counsel on mergers and acquisitions, corporate reorganizations, real estate transactions, and project financing. Furthermore, this division is a key player in sales and…

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Source: https://sweetvaluelab.com/stocks/ms (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.