Question 1

What is Morgan Stanley's P/S ratio?

Accepted Answer

Morgan Stanley (MS) P/S ratio is 2.8× as of July 22, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. 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/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

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

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For Morgan Stanley specifically, the relevant sector benchmark is the current sector median of 2.3×.

Question 5

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

Accepted Answer

Morgan Stanley's P/S ratio of 2.8× is above its own 5-year average of 2.1× and above the sector median of 2.3×. 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/S ratio range?

Accepted Answer

In the available daily series, Morgan Stanley (MS) P/S ratio has ranged from a low of 0.2× in 2008 to a high of 3.6× in 2021. The 5-year average is 2.1× and the 5-year median is 2.1×.

Question 7

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

Accepted Answer

Morgan Stanley (MS) P/S ratio at the end of 2025 was 2.4×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

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

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). 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	$115B	2.4×	+0.5×	Dec 31, 2025
2024	$199B	$103B	1.9×	+0.3×	Dec 31, 2024
2023	$150B	$89.5B	1.7×	-0.6×	Dec 31, 2023
2022	$140B	$62.5B	2.2×	-0.7×	Dec 31, 2022
2021	$172B	$57.8B	3.0×	+0.5×	Dec 31, 2021
2020	$122B	$49.7B	2.4×	+0.9×	Dec 31, 2020
2019	$80.4B	$51.3B	1.6×	+0.2×	Dec 31, 2019
2018	$66.4B	$47.8B	1.4×	-0.8×	Dec 31, 2018
2017	$91.9B	$41.5B	2.2×	+0.1×	Dec 31, 2017
2016	$76.3B	$36B	2.1×	+0.4×	Dec 31, 2016
2015	$60.1B	$36B	1.7×	-0.4×	Dec 31, 2015
2014	$74.5B	$36.1B	2.1×	+0.4×	Dec 31, 2014
2013	$59.7B	$35B	1.7×	+0.5×	Dec 31, 2013
2012	$36.2B	$29.1B	1.2×	+0.5×	Dec 31, 2012
2011	$28B	$37.3B	0.8×	-0.3×	Dec 31, 2011
2010	$39.1B	$36.1B	1.1×	-0.3×	Dec 31, 2010
2009	$38.4B	$27.8B	1.4×	+1.2×	Dec 31, 2009
2008	$11.7B	$57.6B	0.2×	-0.4×	Nov 30, 2008
2007	$52.7B	$85.2B	0.6×	-0.3×	Nov 30, 2007
2006	$64.5B	$73.8B	0.9×	-0.1×	Nov 30, 2006
2005	$50B	$51.7B	1.0×	-0.2×	Nov 30, 2005
2004	$46.1B	$39.6B	1.2×	-0.3×	Nov 30, 2004
2003	$51.7B	$34.8B	1.5×	+0.2×	Nov 30, 2003
2002	$41.5B	$32.4B	1.3×	—	Nov 30, 2002


Citigroup (C)	1.5×
W. R. Berkley (WRB)	1.5×
American International Group (AIG)	1.5×
Capital One Financial (COF)	1.5×
Travelers Companies (TRV)	1.4×
Federal Agricultural Mortgage (AGM)	1.4×
Franklin Resources (BEN)	1.4×
Brookfield (BN)	1.3×
American Financial Group (AFG)	1.3×
Hartford Insurance Group (HIG)	1.3×
Markel (MKL)	1.3×
PSB Holdings (PSBQ)	1.3×
Principal Financial Group (PFG)	1.3×
PayPal (PYPL)	1.2×
Loews (L)	1.2×
AXIS Capital Holdings (AXS)	1.1×
Old Republic International (ORI)	1.0×
Assurant (AIZ)	0.8×
Allstate (ALL)	0.8×
Mercury General (MCY)	0.8×
Everest Group (EG)	0.8×
MetLife (MET)	0.6×
Prudential Financial (PRU)	0.5×
StoneX Group (SNEX)	0.0×
Atlantic Union Bankshares (AUB)	0.0×

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

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

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

About P/S Ratio at Morgan Stanley (MS)

Morgan Stanley P/S Ratio by Year

Morgan Stanley P/S Ratio 2025: 2.4×

Morgan Stanley P/S Ratio 2024: 1.9×

Morgan Stanley P/S Ratio 2023: 1.7×

Morgan Stanley P/S Ratio 2022: 2.2×

Morgan Stanley P/S Ratio 2021: 3.0×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

Morgan Stanley (MS) Key Financials