Financials Morgan Stanley Nyse

Equities

MS.PRF

US61763E2072

Investment Banking & Brokerage Services

Market Closed - Nyse 04:00:02 2024-07-12 pm EDT 5-day change 1st Jan Change
25.35 USD +0.08% Intraday chart for Morgan Stanley +0.53% +1.32%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 82,743 123,984 176,139 143,693 153,052 169,163 - -
Enterprise Value (EV) 1 348,481 309,590 366,069 339,995 340,207 344,606 332,274 332,274
P/E ratio 9.85 x 10.6 x 12.2 x 13.8 x 18 x 15.2 x 13.8 x 12.6 x
Yield 2.64% 2.04% 2.5% 3.56% 3.49% 3.39% 3.61% 3.83%
Capitalization / Revenue 2 x 2.57 x 2.95 x 2.68 x 2.83 x 2.93 x 2.79 x 2.67 x
EV / Revenue 8.41 x 6.42 x 6.13 x 6.34 x 6.28 x 5.97 x 5.48 x 5.25 x
EV / EBITDA - - - - - - - -
EV / FCF - - - - -9.21 x 71.4 x 55.8 x 52.5 x
FCF Yield - - - - -10.9% 1.4% 1.79% 1.91%
Price to Book 1.12 x 1.34 x 1.78 x 1.56 x 1.68 x 1.84 x 1.78 x 1.69 x
Nbr of stocks (in thousands) 1,618,598 1,809,198 1,794,412 1,690,109 1,641,312 1,625,163 - -
Reference price 2 51.12 68.53 98.16 85.02 93.25 104.1 104.1 104.1
Announcement Date 1/16/20 1/20/21 1/19/22 1/17/23 1/16/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 41,419 48,198 59,755 53,668 54,143 57,691 60,661 63,319
EBITDA - - - - - - - -
EBIT 1 11,473 14,418 19,672 14,369 12,345 14,838 15,918 16,868
Operating Margin 27.7% 29.91% 32.92% 26.77% 22.8% 25.72% 26.24% 26.64%
Earnings before Tax (EBT) 1 11,301 14,418 19,668 14,089 11,813 14,784 16,011 17,359
Net income 1 8,512 10,500 14,566 10,540 8,530 10,961 11,866 12,666
Net margin 20.55% 21.79% 24.38% 19.64% 15.75% 19% 19.56% 20%
EPS 2 5.190 6.460 8.030 6.150 5.180 6.846 7.552 8.240
Free Cash Flow 1 - - - - -36,948 4,828 5,953 6,331
FCF margin - - - - -68.24% 8.37% 9.81% 10%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - 44.05% 50.17% 49.98%
Dividend per Share 2 1.350 1.400 2.450 3.025 3.250 3.528 3.753 3.990
Announcement Date 1/16/20 1/20/21 1/19/22 1/17/23 1/16/24 - - -
1USD in Million2USD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 14,524 14,801 13,132 12,986 12,749 14,517 13,457 13,273 12,896 15,136 14,313 14,228 14,325 15,746 15,252
EBITDA - - - - - - - - - - - - - - -
EBIT 1 4,889 4,645 3,740 3,546 2,881 3,994 - - 2,099 4,389 3,804 3,793 3,397 4,638 4,210
Operating Margin 33.66% 31.38% 28.48% 27.31% 22.6% 27.51% - - 16.28% 29% 26.58% 26.66% 23.71% 29.45% 27.6%
Earnings before Tax (EBT) 1 4,884 4,588 3,319 3,388 2,794 3,760 2,812 3,145 2,096 4,395 3,633 3,522 3,355 4,341 4,017
Net income 1 3,592 3,542 2,391 2,494 2,113 2,836 2,049 2,262 1,383 3,266 2,658 2,579 2,497 3,227 2,969
Net margin 24.73% 23.93% 18.21% 19.21% 16.57% 19.54% 15.23% 17.04% 10.72% 21.58% 18.57% 18.13% 17.43% 20.49% 19.47%
EPS 2 2.010 2.020 1.390 1.470 1.260 1.700 1.240 1.380 0.8500 2.020 1.655 1.619 1.529 2.061 1.871
Dividend per Share 2 0.7000 0.7000 0.7750 0.7750 0.7750 0.7750 0.7750 0.8500 0.8500 0.8500 0.8500 0.9146 0.9146 0.9130 0.9280
Announcement Date 1/19/22 4/14/22 7/14/22 10/14/22 1/17/23 4/19/23 7/18/23 10/18/23 1/16/24 4/16/24 - - - - -
1USD in Million2USD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 265,738 185,606 189,930 196,302 187,155 175,443 163,111 163,111
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 - - - - -36,948 4,828 5,953 6,331
ROE (net income / shareholders' equity) 11.7% 13.1% 15% 11.2% 9.4% 11.9% 12.8% 13.6%
ROA (Net income/ Total Assets) 0.97% 1.04% 1.3% 0.92% 0.72% 0.91% 0.97% 0.98%
Assets 1 874,479 1,005,641 1,124,788 1,145,080 1,187,030 1,211,014 1,229,414 1,297,797
Book Value Per Share 2 45.80 51.10 55.10 54.60 55.50 56.70 58.60 61.70
Cash Flow per Share - -15.50 - - - - - -
Capex 1 - - - - 3,412 261 407 433
Capex / Sales - - - - 6.3% 0.45% 0.67% 0.68%
Announcement Date 1/16/20 1/20/21 1/19/22 1/17/23 1/16/24 - - -
1USD in Million2USD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
24
Last Close Price
104.1 USD
Average target price
100.5 USD
Spread / Average Target
-3.41%
Consensus