Question 1

What is Morgan Stanley's P/E ratio?

Accepted Answer

Morgan Stanley (MS) P/E ratio is 17.2× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month earnings (net income), using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/E ratio calculated?

Accepted Answer

P/E = Share Price ÷ Trailing Twelve-Month (TTM) Diluted EPS, or equivalently Market Capitalisation ÷ TTM Net Income. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/E ratio?

Accepted Answer

The price-to-earnings (P/E) ratio, also called the earnings multiple, measures how much investors pay per dollar of a company's trailing twelve-month (TTM) earnings. It is calculated as share price ÷ TTM diluted EPS (equivalent to market capitalisation ÷ TTM net income). A higher P/E implies the market is pricing in stronger future earnings growth or lower risk; a lower P/E can signal slower expected growth, higher risk, or potential undervaluation.

Question 4

What is a good P/E ratio for Morgan Stanley?

Accepted Answer

There is no universal "good" P/E. As a rule of thumb, the S&P 500 has historically averaged a P/E in the mid-to-high teens; mature, slow-growth businesses commonly trade in the 10–18× range, while high-growth or asset-light companies often trade at 25–50×+. What matters is the comparison to sector peers and to the company's own historical range. For Morgan Stanley specifically, the relevant sector benchmark is the current sector median of 13.1×.

Question 5

Is Morgan Stanley's P/E ratio high or low?

Accepted Answer

Morgan Stanley's P/E ratio of 17.2× is above its own 5-year average of 13.8× and above the sector median of 13.1×. That places the current reading at the 82th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Morgan Stanley's historical P/E ratio range?

Accepted Answer

In the available daily series, Morgan Stanley (MS) P/E ratio has ranged from a low of 4.8× in 2011 to a high of 532.0× in 2012. The 5-year average is 13.8× and the 5-year median is 14.1×.

Question 7

What was Morgan Stanley's P/E ratio in 2025?

Accepted Answer

Morgan Stanley (MS) P/E ratio at the end of 2025 was 16.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month earnings figure available at that date.

Question 8

Why does Morgan Stanley's P/E ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (earnings). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$279B	$16.9B	16.5×	+1.7×	Dec 31, 2025
2024	$199B	$13.4B	14.9×	-1.6×	Dec 31, 2024
2023	$150B	$9.09B	16.5×	+3.7×	Dec 31, 2023
2022	$140B	$11B	12.7×	+1.3×	Dec 31, 2022
2021	$172B	$15B	11.4×	+0.4×	Dec 31, 2021
2020	$122B	$11B	11.1×	+2.2×	Dec 31, 2020
2019	$80.4B	$9.04B	8.9×	+1.3×	Dec 31, 2019
2018	$66.4B	$8.75B	7.6×	-7.5×	Dec 31, 2018
2017	$91.9B	$6.11B	15.0×	+2.3×	Dec 31, 2017
2016	$76.3B	$5.98B	12.8×	+3.0×	Dec 31, 2016
2015	$60.1B	$6.13B	9.8×	-11.7×	Dec 31, 2015
2014	$74.5B	$3.47B	21.5×	+1.1×	Dec 31, 2014
2013	$59.7B	$2.93B	20.4×	-511.6×	Dec 31, 2013
2012	$36.2B	$68M	532.0×	+525.2×	Dec 31, 2012
2011	$28B	$4.11B	6.8×	-1.5×	Dec 31, 2011
2010	$39.1B	$4.7B	8.3×	-20.2×	Dec 31, 2010
2009	$38.4B	$1.35B	28.5×	+21.7×	Dec 31, 2009
2008	$11.7B	$1.71B	6.8×	-9.6×	Nov 30, 2008
2007	$52.7B	$3.21B	16.4×	+7.8×	Nov 30, 2007
2006	$64.5B	$7.47B	8.6×	-1.5×	Nov 30, 2006
2005	$50B	$4.94B	10.1×	-0.2×	Nov 30, 2005
2004	$46.1B	$4.49B	10.3×	-4.3×	Nov 30, 2004
2003	$51.7B	$3.55B	14.5×	+0.7×	Nov 30, 2003
2002	$41.5B	$2.99B	13.9×	—	Nov 30, 2002


Ameriprise Financial (AMP)	10.6×
Auburn National Bancorporation (AUBN)	10.5×
1st Source (SRCE)	10.5×
Truist Financial (TFC)	10.4×
Eagle Financial Services (EFSI)	10.0×
Prudential Financial (PRU)	9.8×
UMB Financial (UMBF)	9.7×
T. Rowe Price (TROW)	9.6×
Old Republic International (ORI)	9.5×
First Financial (THFF)	9.3×
Globe Life (GL-PD)	9.3×
Hartford Insurance Group (HIG)	9.3×
Assured Guaranty (AGO)	8.9×
Cincinnati Financial (CINF)	8.8×
Federal Agricultural Mortgage (AGM)	8.8×
Travelers Companies (TRV)	8.4×
PayPal (PYPL)	8.2×
PSB Holdings (PSBQ)	7.5×
Arch Capital Group (ACGL)	7.1×
AXIS Capital Holdings (AXS)	7.0×
Tompkins Financial (TMP)	6.7×
Everest Group (EG)	6.5×
Mercury General (MCY)	5.8×
Allstate (ALL)	4.4×
Atlantic Union Bankshares (AUB)	0.0×

P/E Ratio for Morgan Stanley (MS) 2002-2026

P/E Ratio daily chart for Morgan Stanley (MS)

Historical P/E Ratio for Morgan Stanley (MS) from 2002 to 2025

About P/E Ratio at Morgan Stanley (MS)

Morgan Stanley P/E Ratio by Year

Morgan Stanley P/E Ratio 2025: 16.5×

Morgan Stanley P/E Ratio 2024: 14.9×

Morgan Stanley P/E Ratio 2023: 16.5×

Morgan Stanley P/E Ratio 2022: 12.7×

Morgan Stanley P/E Ratio 2021: 11.4×

Sector peers by P/E Ratio — chart

Sector peers by P/E Ratio — table

Frequently asked questions

Morgan Stanley (MS) Key Financials